Important Features of Business Improvement Programs
You might be thinking, "Wait. Shouldn't this be titled something like 'What is Business Improvement?"
In a lot of ways, the answer is yes! But in other ways, it's more complicated than that. So here’s what we'll do: We’ll talk about why people get into business improvement at all, and then we'll talk about important features to know if you're going to start looking into any programs. We hope this will be useful for you!
For starters, people get into business improvement because they have a feeling that there's more they could be doing for themselves and their company. Some of them look at the competition and say, "They're doing it better than me. Why am I missing out?"
If you've been running your own business or working for someone else for a while, you might have some ideas in mind about what you could do to improve the service or product your company offers. But because there are so many tens of thousands of businesses operating in your area (even just a small town), it's sometimes hard to find out what other companies are doing.
Business improvement programs help answer this question by providing information on both local (city-wide) and statewide programs that can help you find examples of good practice within your industry.
There are three main types of business improvement programs.
Consulting services: Business improvement consultants help people assess their needs and then design a program to meet those needs. They might work with you to create a business improvement plan, or they might just come in once a year and make recommendations. But either way, the consultant's role is to help you find what you want and make sure the program is right for you. Some consultants will also arrange financial plans for businesses that want funding, but this service is usually optional . Financial planning: Consultants also offer financial planning services for businesses that don't want to tackle the challenge on their own. They will set up life insurance and retirement funds, help you choose a bank or credit union, and more. Demonstrations: These are programs where you bring in customers, employees, or other stakeholders and run a program based on what they want from the company. You might run presentations about your product, or you might present examples of the good services other companies provide. You can make these programs more sophisticated by organizing demonstrations of more interactive products (like virtual reality) or software (like video conferencing).
How much can consultants do?
Consulting services generally cost between $5,000 and $25,000. These programs will be customized to fit your needs, but you should expect that the consultant will conduct research, design a program for you, and initiate the implementation. And if you decide to implement the program yourself, there are some ways that your consultant can still help.
Consultants also provide financial planning for businesses who want it. They also offer services for government entities and schools, with prices ranging from $25,000 to $300,000 (or more). Financial planning involves helping organizations figure out how much money they need from outside sources (such as banks or investors) while minimizing risk. This is often a very involved and time-consuming process that results in a business plan, financial projections, and other documentation.
For demonstrative services, the prices will be based on your audience (how many people are attending the presentation), whether or not you want to incorporate new technology or software into the program, and how fancy of an event you want. Some business owners prefer to shop around for these services, but others will sign up for a package deal with their consultant. These packages usually cost $5,000 to $10,000.
What features should you look for?
This depends on what kind of program you're looking for! But in general:
You should find out how experienced your consultant is . You might ask whether your consultant has given presentations at the same conference as you, and how many times they've done that. They should be knowledgeable about the industry that they're helping you with.
. You might ask whether your consultant has given presentations at the same conference as you, and how many times they've done that. They should be knowledgeable about the industry that they're helping you with. Be sure to measure your financial goals . Your consultant will help you determine how much money is needed for specific business objectives and how it will be used. Before getting into a program, find out what kind of financial projections are offered by your consultant and compare them to similar projects done by other businesses in your area (and in similar industries). Do they seem realistic? Do they actually have targets in mind that are reasonable, or are they expecting too much?
. Your consultant will help you determine how much money is needed for specific business objectives and how it will be used. Before getting into a program, find out what kind of financial projections are offered by your consultant and compare them to similar projects done by other businesses in your area (and in similar industries). Do they seem realistic? Do they actually have targets in mind that are reasonable, or are they expecting too much? Look for examples of what has worked . Consultants can provide you with successful programs from their clients, but you should also look at examples of programs from the same industry that achieved different results . The key is to understand what works and why.
. Consultants can provide you with successful programs from their clients, but you should also look at examples of programs from the same industry that achieved . The key is to understand what works and why. Get recommendations from other people. It's always a good idea to find out who else you can talk to about your needs, and who you might be able to hire for additional help in case things don't go as expected. We've put together a list of services that can be found on our Business Improvement Resource page.
What do customers have to say?
"I was referred to Marvin through another consultant. His performance at the conference exceeded my expectations and I am looking forward to working with him in the future." - Alan Karcher, Institutional Chemical, Inc. Read more customer reviews…
"Marvin did an excellent job in preparing a proposal for our presentation. His attitude and professionalism were excellent, giving me confidence that he was up to the task. He worked with our company's needs while also providing his expertise in areas where he could contribute.
Conclusion
A consultant can help you make your presentation a success. Simply bringing in a consultant to run your presentation will not ensure success. You still need to plan out the event so that it takes the right direction, and you need to know what results you are hoping for (and willing to spend money on).
But if you don't have the time or the expertise, calling in a consultant can help your business achieve its goals on time and within budget. You'll just have to be clear about what you want them to do for you in terms of financial goals or demonstrative services. This way, they'll be able to estimate costs based on your requests and needs, which should save everyone some time and headaches during the planning process.