Have you ever asked yourself why someone should hire a business consultant? This is not a walk over question that you can simply respond with a yes, or no. Many business founders believe that there is no need to hire a business consultant for as long as the business is operating smoothly.
However, at Wanok we believe that business consultants can be compared to badminton game. Do you watch badminton? If so, are you convinced that even the best badminton players in the cosmos have trainers? And, they have a number of them not just one.
We believe that best badminton Players need trainers in order toreach the highest very as far as badminton is concerned. Therefore, any business be it a starting or already existing business require business consultants if it is to grow and evolve a
Business plan
For anyone thinking about making a business plan, be it for a fresh business or for already existing one, there are a number ofalternatives that you can think of. For example many think of writing the plan by themselves, other spend little funds by hiring business consultants to write business plan for them. Much as many think that writing a business plan by themselves is the cheapest and quickest route, those who hire business consultants testify that hiring a consultant is a better option for new or already existing business.
Before you make a decision of writing a business plan by yourself, consider some of the following benefits of hiring a business plan consultant. First and fore most, at Wanok, we are objective when it comes to business planning. We believe that when a person tries to write a business plan by him or herself, may try to neglect some facts about his or her business or may write a plan basing on his or her sentiments rather than facts. When writing a business plan, we take an objective approach and tackle the facts about your business basing on experience in the field of business. This can help our clients to avoid the repercussions that may rise as a result of making a business plan depending of his or her subjective feelings about the business.
Also, Wanok consultants give adequate time to your Businessplan. We are aware that our clients have less time to sit down and write a business plan by themselves. Adding on that, writing a business plan is a task that requires a lot of time and research, it takes months to compile all document that are needed to have a successful business plan. Our consultants will dedicate a lot of time to your business plan and make sure that is completed within the deadline you set.
We as well provide you with more than just a written document. As far as writing a business plan is concerned, a couple of things are needed more so in the final document. By having your business plan written by Wanok consultants, we shall unveil problems that might be associated with your ideas, and advice you more in the areas where you need extra need. By doing so, you will be in position to look at your business this time round not in red tinted glasses but through the eyes of Wanok business consultants. This will help you acquire new ideas and skills which will enable your new business to flourish just in its initial stages.
The causes of business failure are many and varied, and may stem both from the external environment as well as from factors internal to the business. Internal causes of business failure may in many cases be capable of being foreseen in advance, while on the other hand some external causes are not so predictable. In most cases, a complex mixture of causes contributeto business failure; it is very rare for one single factor to be involved (FEE, 2004).
Earliest empirical studies on business failure examined the role of various owners and firm characteristics to explain business failures. The numerous characteristics shared by failed firms, are directly related to personal decision-based characteristics of the owner (lack of insight, inflexibility, emphasis on technical skills, etc.), managerial deficiencies (lack of management skills and appropriate managerial training, etc.) and financial short- comings (no accounting background, cash flow analysis, financial records, etc.). Many aspects of poor manage- ment are reported to be connected to several related issues, such as poor financial circumstances, inadequate accounting records, limited access to necessary information, and lack of good managerial advice (Gaskill et al., 1993). Some studies focused more on the mana- gerial causes of failure and listed some 25 causes and categorized them simply as poor management, and concluded that poor management combined with the personality traits of the owner.
Benefits of trusting Wanok as your Business consultants
- First and foremost, at Wanok we have a lot of experts who acquired experience over years in as far as starting and maintaining already existing business are concerned. Through our experience, we bring knowledge from multiple domains thereby allowing you to make the right decisions at the right time. Still to note, as experienced Consultants, we bring to your knowledge all the barriers and obstacles that can hinder your business, or organization, we help you navigate through these obstacles thereby guiding your business or organization towards the right direction.
- Most importantly, as concerned consultants, we understand the role of investors in as far as business is concerned. We can link you to the right contacts who are ready to help you find investors. We can as well advice you on the right timing and approach for presenting your idea to potential investors. In the same vain, due to the fact that Wanok consultants are very active especially in the local business circles, we understand how hectic it is to find honest employees. Being that we are well established in different parts, we have contacts of lots of employees and hence we can help you to recruit the right people to add new skills to your starting or already existing business or organization.
- According to Drea Knufken in her research entitled “The 25 worst Business failures in History”, she asserts that up to 50% of businesses fail within five years of inception. As the tittle of herwork indicates, Drea points out 25 businesses that failed just within five years of their inception. These businesses failed due to a number of reasons but the most fundamental reason is lack of consultation.
- Additionally, in her research aimed at finding the causes of business failures, Zahra Arasti points out the most common causes of business failures which are all associated to lack of consultation. For instance, some fail because of the poor decision made by the owner of the business due to lack of managerial skill, lack of insight, inflexibility, emphasis on technical skills, to mention but a few. For Gaskill, the poor management skills are related to issues like poor financial circumstances, inadequate accounting records, and limited access to necessary information.
- Having seen some of the causes of business failures, we can infer that these causes occur as a result of lack of consultation. When consultation is done, most these causes can be avoided. As experienced consultants, at Wanok, we believe that when trusted, we can fore see in advance both the internal and external factors and can hinder the prosperity of your business and guide you on how to go about them.