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Global Business Consutlatncy is one of major activity of EYN Group in collaboration with Interntioanal Companies worldwide. We are mainly focusing on feasible projects after careful review of business plan and feasiblity study. On thinking differenly with creatively is our major strategy for business consutlatncy.

Business consulting in its purest sense is the ability to magnetize a business owner, entrepreneur, professional, mature or startup business to areas of critical performance based on meaningful, experienced, and documented understanding of the issue. Those critical areas can be marketing strategy, competitive advantage, business model, leverage, etc. It’s not a theoretical process and it’s not only understanding the macro problem but also the nuances.

An enormous amount of consulting is theoretical and done by wonderfully-intended and knowledgeable people, but their empirical understanding of the complexities of the situation is limited, particularly regarding things that have many moving parts and multiple impact points. Business consulting is about being able to look at a problem and opportunity in a non-static way and see it dynamically. It is to analyze in an integrative way; to understand how the problem or the opportunity, the challenge or the issue, interrelates with other factors and to be able to, from experience, council, advise, and direct the business owner to take better actions and make better decisions that will produce a greater outcome for the time and effort.

 

Role of Business Consultant.

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A business consultant, first of all, has to have the ability to understand function over form and cause over effect, because the consultant is going to either be brought in for a specific or a macro problem. A specific problem can be, “My website’s not getting any traffic.” The macro problem can be, “Were not getting enough sales,” or, “We’re getting beat in the market.” And you’ve got to be able to be causation-focused. You have to first look at the effect, but then determine what is really causing it. And then you’ve got to be able to deal not with form – “Oh, you just need better marketing” – but you have got to be able to understand function.

You have got to know that the micro, the granular, reality-base alternatives and know that one alternative doesn’t fit all. Let’s take a look at a complex business scenario as an example. Let’s say that you’re selling a supplement for weight loss.

You’ve got to understand what everybody else in the market is doing right and doing wrong. You’ve got to understand the alternative means of achieving the end goal, i.e weight loss. But is the end goal just weight loss? Because it could be just a lose weight or it could be to get fit and you’ve got to see okay, they can buy my supplement they can buy competitor’s supplement. My competitor has certain kind of positioning, how are they selling? What are they selling? What’s their mechanism for selling? How have they validated or authenticated their product? What’s wrong with it? Where is a gap? And you look at all the alternatives somebody could be doing.

 

How does the consultant-client relationship work specifically in terms of the contracting structure, the retainer fee, project rate, performance compensation, etc.

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it’s going to be all over the place. If you don’t want and/or need continuous collaboration, you can bring somebody in for a deep dive immersive compression accelerated process. I’ve a client that is brilliant. We talk occasionally and he’s got this list and he asks me all these outrageously great questions and we don’t talk again for 3 months.

You can bring somebody in for a day or two and just have them either give you generic stuff or you can just come over with very specific and well reasoned issues, questions, or clarifying requests. You can ask somebody that comes in with regularity, you get somebody that does it for you, you can have somebody that does it with you. You can have somebody who teaches your team how to do it. You can have somebody that comes in and for a while is the de facto marketing manager or sales manager. You can have somebody who’s paid, is paid a one-time fee and leaves and you never see him again. They come back whenever you want to pay them the fee again. You go to somebody who gets paid a fee every time they come. It depends on the quality, not even the quality; it depends on the self worth. There are probably some very capable and confident consultants who don’t have a very high self-image and they’re probably cheap and they’re probably great values.

We do multiple kinds of consulting; it depends really on the issue. Sometimes we just do a 1 or 2 day version and it’s expensive, but it’s done and we deal systematically and sequentially on a prioritized basis with all the issues and all the connections and all the different elements of the business and the personnel in the business and we figure it out and we try to develop it and then you never see him again.

Sometimes we will do a process where we work with him for a period of time twice a month just for an hour or two. Sometimes I get a fee. Sometimes we’ll work long term and we’ve got to pay his fee and we work an hour or so a week intensively and we get a percentage of the quote from making their current activities perform better, making their current under-performing activities either replace, eliminate or reinvigorate, figuring out new revenue generating approaches, products, service, markets, figuring out new value propositions.

But we would like arrangements where we get tied in some degree, either significantly or at least reasonably to the outcomes, so you’re in for a penny you’re in for a pound. We also expound over the years if you don’t have the company somewhat invested in you they aren’t going to take it seriously and contain it. There’s too much diversion and too much clutter they have to have some kind of a meaningful investment if they are motivated to get a return on or it doesn’t seem to work out as well.

Certain firms will charge you for a minimum amount, they’ll charge you by the hour, they’ll charge you a day rate. They’ll charge you for coming into your office and doing on-sites which is basically that they modify it. We have one model if the company is big enough, we don’t want to spend a lot of time with him, we want to make a million dollar fee and we’ll take you know 95% with our performance pace if they’re suitable in other arrangements where you know, we charge them $25,000 a month and they get 4 type accesses and quarterly we’ll get together and certainly use all over the place.

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