Business consulting, questions and answers
You have an idea, and you want to start a business. Having ideas means imagining things to be possible in a near future. Let us build on that.
How does consulting work?
A consultant either helps you overcome your challenges, or helps you approach an opportunity in a safe and cost-effective way by sharing knowledge, designing and/or implementing impactful and valuable solutions. A consultant is the substitute of your main and most precious resource: knowledge.
What is business strategy and business planning?
Although often interchanged, there is a difference between a business strategy and a business plan.
Business Strategy defines the model of your business and helps you make decisions about how your business will function. It structures and maps the business.
Business Planning, on the other hand, explains what the business will do in detail, from setting measurable objectives to the resources needed to achieve the objectives.
What is the difference between a business coach and a mentor?
There is a fine line between business coaching and business mentoring and most of the time businesses tend to overlap these two terms. We, at BRIDCON, make a clear difference between the two – a mentor focuses on advising, whereas a coach gets involved to assist the business owners and help them become aware and responsible for their decisions and success.
Both the business mentor and the business coach are individuals whose years of expertise will gradually help you to either start or grow your business, while developing your ideas and putting them into practice, sharing skills, experience, and contacts.
The relation with a business mentor may be longer than the one with a business coach; nevertheless, both relations are based on trust and continuous transfer of knowledge.
A business coach or mentor can advise either a business owner or a team, providing them with knowledge and the tools they need to work in a smart and cost-effective manner.
Is consulting expensive?
Most businesses are reluctant to working with consultants because they imagine consultants are expensive, at least this is the image of consultants pictured in movies. Businesses are complex mechanisms and most of the time when starting a journey without proper guidance, you will end up increasing the risk of failure, wasting time, money, and the trust that you will ever succeed.
The cost of consulting may vary depending on the type of knowledge needed and the urgency of solving the problem or grabbing the opportunity. This being said, we leave to you to decide if consulting is expensive or cost effective.
Do you have further questions? Drop us a line and we will revert to you.