Why is it useful to hire a business analysis consultant?
Even if the company seems healthy based on turnover and profit, this does not always mean that it is. Just like with a car, it is sometimes useful to look under the hood to see if everything is still in good condition. That is why new cars are regularly serviced. Nothing needs to be broken, but to be sure a check-up is necessary.
Another aspect of why it is valuable to hire a business analysis consultant is the so-called business blindness. As an entrepreneur, you are so involved with your business that you can no longer look at what can be done better in a completely objective way.
Acquisition of a business
If you want to take over a company, you want to be sure that this company is actually as healthy as the management claims. A business analyst looks objectively at all relevant aspects of a company and produces a report on this.
If employees are dissatisfied, this can have various causes. For example, that the pressure of work is too high, the pay is too low, or the management is too directorial. Business analysts can identify this type of complaint and compare it with the competition. This makes it clear where the real problem lies and what can be done about it.
Loss in turnover or margin
A business analyst can offer a solution if a company is making less and less turnover and margin without there being a directly demonstrable cause for this. By combining internal business analysis and market analysis, the entrepreneur can gain insight into how to re-establish a healthy business.
What are business analysts good at?
Experienced business analysts use different management models and are generally good at making calculations. The management models provide guidance when analyzing the various aspects of a business. The calculations focus more on efficiency, turnover, and margin.
How do business analysts work?
TheONE business analysts work remotely via a live video link. By holding discussions with management, managers, and often employees, they absorb information that they convert into graphical models. It provides immediate insight into possible bottlenecks within the company.
How much does a remote online business analysis consultant cost?
All online consultants at TheONE determine their prices themselves. During the intake, you pay them per minute, but if the scope of the assignment is clear, you can also agree on a fixed price. A simple scan quickly costs a few hundred euros, but a full business analysis can cost up to tens of thousands of euros. It depends entirely on the complexity and size of the business.
Can business analysis consultants analyze any kind of business?
Business analytics consultants are trained and have the experience to analyze any type of business, but of course, some are more passionate about a particular discipline than others. An intake is, therefore, essential to see if the consultant fits the company and entrepreneur. Feel free to try out several consultants at TheONE before you choose who is allowed to carry out the final assignment.