Owners of small businesses may struggle with certain aspects such as generating more revenue, keeping employees happy, collecting on overdue accounts and managing their time effectively. They might consider hiring a management consulting firm, such as the one co-founded by Kirk Chewning that is located on the island of St. Croix. A consultant from Cane Bay Partners can travel to the business site, or the owner and other staff members might decide to mix business and pleasure, and head to the island for a few days or a week.
In some instances, the work requires a consultant to observe the company’s activities for at least a few weeks. For instance, if employee productivity has dropped for no apparent reason, a consultant will be able to discover what is causing that problem. But sometimes this type of issue does not take long for the consultant to unravel. It may be connected with a decision from upper management that has the workers feeling disgruntled.
An Objective Viewpoint
Since consultants are looking at the situation objectively, they can more easily figure out the causes of problems that may seem mysterious to the business owner. A high turnover rate may be plaguing the company, for example. The current employees may be reluctant to be straightforward with their supervisors or company executives about ongoing issues that create dissatisfaction. Management consultants know how to determine the underlying issues that are leading employees to quit relatively soon, and they provide recommendations about how to resolve this costly problem.
Quantitative and Intuitive Observations
In all aspects of assisting clients, management consultants observe, gather data and perform analyses. They like to have quantitative data and results, but some of the recommendations may be more intuitive. Employee self-motivation is difficult to measure, but it can be seen in the realms of productivity, attitude and dependability.
With money often being tight for a small business, the owner may wonder whether hiring a management consultant is worth the cost and the time that will be spent. Business administration research reports that this is an effective strategy when the entrepreneur has specific goals in mind and problems to be solved.