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Lighthouse Newsletter: July 2020

What is Management Consulting?

I thought I would focus this month on the true meaning behind what I do. One of the most frequently asked questions I get it "what is management consulting?"

Most small businesses and entrepreneurs typically fall into one of two camps:

  1. They are so focused on the success of their product or service that they don't have the time to worry about the actual management aspects.

  2. If they do have the time, they don't actually know where to start or what to focus on to improve the financial and operational health of their business.

Management consulting gets to the heart of those two scenarios. We provide strategic, results-driven counsel to our small business clients so they can focus on what they do best. When I meet with a new client, one of the first things I strive to achieve is to understand what it is about their business that is keeping them up at night. Maybe one of these sounds like a business owner you know…

  • Struggling to understand financial data from their system or maintaining critical financial information outside of a system completely.

  • Constantly feel like they’re reacting to situations or scrambling to prepare come tax time.

  • Unsure of their biggest challenges and barriers to success.

  • Unsure which of their products and services are most profitable and how to reach those customers.

Once I have a better idea of a client’s needs, we can build a plan to address their biggest concerns. That may mean we are evaluating different tools or options for the business to implement in order to streamline some facet of their business. It can also take the form of a more structure CFO-type role where we are able to review financial reports and key performance indicators to make recommendations at regular intervals. There is truly no “one size fits all,” or even most, in management consulting. My goal is to help my clients design and build a path to the most efficient and profitable version of their business.

If you or a business owner you know is interested in learning more about how we can help, please reach out for an initial one-on-one consultation to discuss your individual needs.

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