One of the most common types of businesses you’ll find in the world of B2B is consulting firms. Consulting businesses can help other businesses get off the ground, manage their accounting, market their products and services and more. These consulting firms develop long-term relationships with their B2B clients in order to support them as fully as they can. Sometimes a larger business may even offer consulting services as an entry point to their other products and services.
There are a number of different types of consulting businesses in the business world, and almost 2 million people employed in management consulting in the US alone. If you are an expert in your field with a passion for supporting other businesses, consulting services may be a great way to establish yourself in the industry.
Strategy Consultant
A strategy consultant helps new and developing businesses plan their short-term and long-term goals and then create a strategy to reach those goals. Strategy consultants can help businesses develop their business plan and a blueprint for their operational processes. Financial consulting is often folded into strategy consulting, as strategy consultants help their clients figure out what plans fit within their budget and the kind of revenue they will need to generate to reach their goals. Strategy consultants often work with the decision makers of the business, such as the CEO, CFO, or COO.
Operations Consulting
While strategy consultants dip into operations and financial consulting, operations consulting goes on a deeper dive into the operations of the business. An operations consultant reviews and analyzes the operations process. How are products and services formed, how do they reach customers, and how does the business keep the lights on? These are all things an operations consultant can help to optimize.
They may advise clients on ways to strengthen their supply chain or streamline workflows so that clients waste less time on unnecessary tasks. By strengthening operations, the business can focus on what brings in the most revenue and what leads to the most satisfied customers.
Financial Consulting
Financial consultants help you manage the complicated finances of your business. Accounting firms often offer financial consulting as an additional service. They may give advice to utilize certain payroll and accounting software. They may help budget for certain goals or aspects of the business, as well as stay within budget. They may advise clients with regard to business investments.
Tax season can be a hectic time for businesses. A financial consultant, especially one that is a certified accountant, can offer guidance when it comes to deductions and getting the most out of your tax return.
Startup Consulting
Launching a startup can be exciting but daunting work. A startup consultant can offer support and guidance to new startup entrepreneurs to fortify their launch and their early days of business. A startup consultant is a type of strategy consultant, but one who focuses on startup businesses. They will have experience working with new and experienced startup entrepreneurs and will be able to anticipate the challenges and opportunities that will face a startup in the early days.
Information Technologies Consulting
An IT consultant is an IT professional who specifically focuses on helping businesses organize and optimize their information technology systems. They may recommend the best systems for the business, advise with respect to training, and work with the executives to develop an IT budget.
An IT consultant is different from having an IT team or personnel in the business, although an IT team might consult their business on the best technologies and systems to use. Similarly, someone with years of experience on IT teams might decide to become an IT consultant.
Human Resources Consultant
When a business is overwhelmed by an internal conflict, they may bring in a human resources consultant to help them resolve it or better organize their human resources department. Human resources consultants offer guidance on things like retaining employees, resolving conflict, budgeting for HR, and boosting company morale.
An HR consultant can also come in handy for situations like mergers and acquisitions. When a merger combines two companies with different cultures, or an outsourced team is brought on to work with the in-house team, advice from an HR consultant can help smooth over the culture clash.
Industry Specialist Consultants
Some consultants specialize in a particular industry. They may have years of experience working within that industry or degrees that speak to their authority or experience. They can advise and consult other professionals on any matters relevant to that industry. The specifics of the consultation will depend on the industry. If you have dedicated years to a particular industry and decide you want to move into the B2B world, becoming an industry specialist consultant could be one way to do so.
