What to Look for in a Strategy Consultant

You’re going through a major shift. Make sure you pick someone who understands it.

When a business is about to implement an important change or enter a growth period or major transition, they often look to strategy consulting firms for support. Although strategy isn’t the only factor that leads to successful implementation, it is considered one of the most important when it comes to potential for growth or profitability.

A strategy consultant can provide your organization with the necessary tools, processes and expertise to achieve success when going through a major change or shift. That is why choosing the right strategic consultant is so important. So what should you actually be looking for?

Extensive business experience

The firm you choose should have the confidence and knowledge on a wide range of variables and processes for working through a major change. When interviewing firms, you should ask for a portfolio of successful engagements and look into their educational background as it relates to strategy and implementing processes.

Your consultant must have a proven track record of successful strategic planning. With such an extensive background, your consultant will be able to relate to your team from the start and instantly gain their trust. Without that trust, it will be very difficult for your team members to adapt to the strategies the consultant is implementing.

Experience in your industry

Yes! Your strategy consulting firm should have both a wide-range of experience in all industries as well as proven experience in your specific industry. How can they be expected to develop the right strategy for your business if they are not well versed on the language used by your industry?

In order to be effective, it is critical that they understand the inner workings of your industry’s market trends, what strategies work best for that industry and the major competitors in the space.

A measurable and defined framework to develop your strategy

All Systems Grow’s mantra is such “Strategy without an executable plan is destined for failure.” If there is no framework built around developing your strategy, there are no specific processes or steps. Without steps, there’s nothing to measure. Without measurement, you are unable to determine success. One of the first things you should ask firms about is their process for developing strategies that will be useful to your particular business.

Knowledge of the latest technological innovations

We live in a technology-driven, sharing economy. Regardless of whether your industry directly relates to technology, you use technology in some capacity. It is essential that the consultant you choose understands the latest tools available.

Get a sense of their experiences and success

Any business strategy consulting firm should be willing to provide references from previous clientele so you can get a sense of their past experiences and success. However, it is important to do your own research as well. While a strategy-consulting firm might work for several different businesses, it doesn’t mean that it will work for your business. These tips will help you make the most informed decision, but the only person who knows if it’s the right decision is you.

If you’re ready to take the step towards finding a strategy consulting firm, get in touch with All Systems Grow and ask us how we answer these questions—or anything else you’d like to know!