What are the Myths & Misconception about Consultant or Management Consultant mostly people thinks?

What are the Myths & Misconception about Consultant or Management Consultant mostly people thinks?

Read More About Management Consultancy Click Here 

Many people don’t know much about the “Management Consultancy” or “Consultancy” profession. If you want to know more about it Read It Here. People when think of taking consultancy of any problem their first reaction is like “Why we need consultants to solve our problem? 

He is a third part person how he can solve our problem?” these are some common reactions but some people thinks that hiring a consultant or taking a guidance from management consultant for an organizational problem is a very expensive thing that people can’t afford. 

Here I would like to inform you that the consultancy or management consultancy profession is not bounded by such assumptions it’s way more then that, beyond, and dynamic thing if you want to explore particular about this then read the article Here.

  Let’s find out what are the Myths & Misconception about Consultant or Management Consultant mostly people think?

1] Consultant always ask for high fees and does not deliver the required performance.

Sometimes people judge without knowing the consequences of any particular situation or case or client. Please don’t forget that after hiring a consultant both [client & consultant] has to sign the agreement which both parties agree on to perform the desired actions against the problem or any other management consultancy help including the fee structure. One should think that it’s like you are doing a good and long term investment for your business when you hire a consultant. 

A good consultant will never give you any kind of false information or false commitment for the sake of generating business ware as he/she will give you the realistic and practical approach towards your problem and always provide you the SMART [Specific, Measurable, Achievable, Realistic, and Timely.] solutions including required business analysis. These days Management Consultancy is more than Philanthropic Advisory in INDIA. 

2] All CEOs, Directors are buddies of Management Consultant.

We all agree that a management consultant or consultant has to work with the team head or team leader, CEO & Directors of the company, management team of the company. Some people think that “CEOs, Directors are buddies of Management Consultant” which is false. Keep in mind that “Management Consultancy” is a very high professional career and there is no place for any single error while decision making. When you work with all professional ethics then there is no place for any kind of developing friendships or personal contacts. 

3] The guidance of the consultant is the same that you already know or you tried the same solution to solve the problem.

 

Many people and the business owner thinks this that as an owner we know our business very well then how come this third part person will provide the perfect solution to our problems they will give the solution for the sake of giving the solution which is again false. One should educate ourselves that all management problems are solved with combined efforts of management consultants and the respected companies owner or management team. 

The work of management consultants requires a lot of gathering information, collecting real-time data, performing business analysis, looking for permutations and combinations working towards any problem and they will tell you the real root cause of the problem and the possible solution to overcome on it. 

4] The Consultant lives a very lavish and luxurious lifestyle.

 

A lot of people think this that when you become a management consultant then you can live the lavish and luxurious lifestyle you are allowed to travel the world with business class flights, having food at five-star and luxurious restaurants, enjoying parties in pubs and lounge bar, etc. and all the expenses are covered by the client.  This statement is also false. Frankly speaking to live the lavish and luxurious lifestyle you have to work hard on your dreams if you have dreamed about living the lavish and luxurious lifestyle. This management consultancy profession will make you rich through all knowledge and skills which is more important than living the lavish and luxurious lifestyle.    

5] The Consultant does not stick on their advice.

 

This is one of the most common judgment people make that “Consultant does not stick on their advice” once the consultation did they will forget the problem and the issue and if the same client comes next time then the consultant will start solving the problem similar like-new problem and will give some another advise and let the client move back and forth only for sake of earning money. 

You have to educate yourself that management consultancy is a dynamic process and why the solution to problem changes is because of some consequences and certain conditions. But again all the process of consultation is discussed before solving any problem with respected management then it’s allowed to take a certain action.

 

In the end, what matters is the choice you make. In the world, plenty of good management consultants are there whose mission is to help the business around the world. 

If you are looking for any kind of management consultancy then we are here for you. Do visit: www.puissance-we.com  

Dos and Don’ts for Management 

Any company regardless of size big or small, startup or grownup has its management or management team. If your company you may have the employee who has to work for yourself from several days to till the number of years. Whatever you planned as management is going to give the impacts on your operations. 

For this so many things are involved such as work environment, relationships with HR and the employees and other extra activities you do for your complete team as motivations, innovative work practices, games, and learning, competitions [please understand here not any kind of business target or deals], etc. if you observed, in the end, it is observed that all this is the decision of management right, isn’t it? 

So, let’s take look at what are the latest Dos and Don’ts for Management People.

If you want to read more on management please read all articles. Click here. You find all the knowledge articles.  Enjoy Reading!

Do: Before publishing anything to your employees do proper study or you should have complete knowledge about it.

I know what are you might be thinking, what is this? We know everything and we are part of managing our decision is a final decision. You might be right at your position. These days we are part of technology. People are becoming smarter and smarter day-by-day. Employees are now educating and keeping themselves updated with the latest technology. 

So, your interaction with the employees should not happen one-sided. You both should interact with maintaining the proper   discipline of work ethics. Your employs should not think that management people don’t know anything or they are not the expert in the respected field and they are asking us to do unpractical things concerning their professional work.

Don’t: Do not lie about the company or business or you should give any wrong or false information about the company to your employees.

Again! I know a lot of thoughts might be coming into your mind. Right now I would like to just list out a few. Keep in mind that your employees are not a dump or numb person. Your employee is a very sharp, smart and attentive person therefore he/she is working for you.  You should not give over commitments to all your staff members. 

Since now all activates are done via the internet so, a lot of information is on the web. Keep in mind that people search for everything on the internet so, all your company information is also people's search. In the end, any kind of misunderstandings should not happen with the company’s information and ethics.

Do: Try to become a good leader or show leadership.

Frankly speaking, these days no one like the tough boss, people are now fed up with so-called domination of the boss or management people and they lose the respect in front of their staff members or employees and they don’t keep faith and trust for the company and then you end up with losing good employees. People follow the leader with their hearts because they show good leadership. 

So, if you become a good leader for your employees then automatically all staff members with following and keep faith and trust in the company and be the company forever.

Don’t: Don’t create partiality in between your staff or even don’t be impartial to anyone with your staff.

You should treat everyone equally. Keep in mind that people come and go, especially employees. They will work in your company to take experience and then leave the company for more betterment. [Except some of the people who stay in the company]. Keep in mind that employees will always do their work and they come only for work. 

So, treat them professionally as per the rules and ethics of the company with leadership. Always maintain a good relationship with them. These days’ people now know the importance of goodwill and you will never know in the future required them. 

The End of an ERA for Traditional Management Consultancy

The End of an ERA for Traditional Management Consultancy

Since from the past several 7 to 8 years, we are part of the digitizing world and concerning that, we have acquired all the necessary changes to our business models which we called it adapting the change.

So, if you want to stay in the game you have to accept the change. Some of our business partners may have to face some difficulties but that’s the different aspect altogether. Our Management Consultancy Industry was found in the 1980s till now this industry has served the number of clients in various industry sectors.

That time was different and now the things are different I hope you can imagine. Everyone is smart enough to know what is best for themselves these days. So, yes it’s an end of an ERA for Traditional Management Consultancy.

Now the Management Consultancy Industry sector in INDIA is one of the fastest-growing sectors and as per the recent research, we are now expected to become a part of Rupees 27,000 crores by 2020 with 6000 Management Consultancy firms and on the global level the net worth is of $250 billion with total 700,000 Management Consultancy firms.

As a management consultant, our duties do not end here in this modern ERA which is full of Technologies, Innovations, Virtuality, Methodological Rigor and other functional expertise, skills, and talent. Therefore it’s a huge responsibility to give advisory to our clientele and here traditional method of management consultancy doesn’t work.     

In this modern ERA, people are more concerned about results, instant results and the money they spend on those particular services. These days the values on planning, analysis and building a strategy are decreasing day-by-day. Here the people don’t keep faith in Management Consultant. The reality is that doing, planning, building strategy, analysis are the major area of work.

 

If you are failed to do this thing then you’re all results, efforts, money and time get wasted. It’s very important to follow the advice or guidance from a Management Consultant. You will never know how this will create a huge impact on your business and helps to grow more professionally and financially. 

Today is the time of revolution and all management consultants have a big responsibility. Now people hire management consultants based on real-world interactions, actions towards your goals and their respected results. Since the establish business is working together is booming, therefore, it's affecting the upcoming new business as well as recent business. 

In such cases one has to take care of building good strategy, legislation, alliances, cybersecurity, data privacy, and transformations also most of the human work is now done by the technology, so the traditional operations part of any company now has to manage smartly. As a result crowdsourcing, network-based consultancy is now evolving in the management consultancy industry.               

Why Need Consulting For Sales and Marketing?

Why Need Consulting For Sales and Marketing?

These days everyone wants to do business or wants to become a self-professional. Now you are working for yourself. How you will measure the growth? Primarily we always measure the growth by how much is the company earning the profits? How many sales are happening? Isn’t it?

Being a startup you may face many difficulties to make your position in the market do your business and another aspect is people don’t have enough knowledge to ask help from Management Consultants. These Management Consultant people help to push your operations strategy in a result-oriented achievement towards companies' success.

Sales & Marketing is a very critical section of all businesses in the industry. Some people say it’s an art, responsibility, duty, skill and many other names. You approach the management consultant for sales and marketing purposes you might be stuck in some problem or you want to outsource the sale & marketing work or you need guidance to train your team or just need a consultancy.

 

A sales & marketing consultant is an advisor or outside advisor. Their duty is to seat and with company management and to solve the problem they are facing or find the appropriate solution which is the best for the company as per the current market requirement and the economic position by creating and implementing workable business strategies.

An advisor will help you to make a strategy for sales & marketing plan, will help to determine the blueprint o the pan, will do the necessary analysis for your services or products, based on company history will guide you properly to do the latest changes as per the current market and the technology. These people are certified management consultants and you should take help from them rather than finding help from someone who is not capable.

Since nowadays technology is emerging day-by-day and everyone wants to be a part of it. So, it’s our responsibility to use that technology in a smarter way to avoid human error or physical work, etc. you need to change your business models as per the latest industry trends. The technology is a never-ending process. So, it’s very important that you should know in your industry what is trending to implement it successfully you need help from professional management consultants or your in-hose companies or organizations team to execute all the necessary things for you.      

The Management Consultancy Industry Future in INDIA

The Management Consultancy Industry Future in INDIA

If you notice in INDIA, a person wants to buy something generally what we do we ask other people the opinion of that particular product, we try to get pinion from the person who has already used that product, we look for product’s advantages and disadvantages, we also research the product cost in various shops, we also research on where you will get the best quality of the same product, etc. So, if anyone analyzes this you can easily make out that, they are asking advice from other people to reduce some problems that may arise in the future. We give and take such advisory sessions in every day to day life and it happens unknowingly. This is a kind of consultancy type of a thing if consider it professionally.   

Whenever do we want to take any decision? Or before taking a decision we always take advice from someone who is elder than us, who is an experienced person, who has knowledge about that particular thing or product. Similarly in professional services or we need help from experts or we can say that consultancy. In other words, we need a management consultant in every aspect of the business journey.  As per the research, the Management Consultancy Industry is a million-dollar industry that will grow tremendously in the future.

If you see the current situation of the market is that the consultancy services are in demand for both domestic and foreign organizations. The best part is this opportunity to become a professional management consultant is spreading across the young youth of this country.  Various program is get conducted by institutes and associations to spread awareness and the value by developing more consultants from our own country which will help us in increasing the economical status of the country.

If you really want to understand why we need management consultancy?  Click Here 

Read more on The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA Click Here

The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA

The Management Consultancy Now and Beyond: More than Philanthropic Advisory in INDIA

INDIA is a country of opportunities in every aspect. We are considering the only economical phase of this country with respect to earning money for each and every individual till micro, small, medium and large industry sectors as well as so-called big shots in the industry. So, from the age around 16-18 until you die who has done something to earn money especially small or very small! Businesses this kind of economical picture you will find in INDIA such as “Chai Wala, typical college assignment writer, person who seals fruits into cut pieces, cleaning glass, person to do dust cleaning, etc. and the professional service providers are already present! ”  These out of the box ideas you will find only in INDIA for sure. 

If you notice there are kinds of combo offers structure type for choosing the service provider like for an example to fulfill one particular need of a customer you will get professional, high professional, non-professionals, self-employed, freelancers so, yes this creates a big confusion in people all over INDIA. Here you have to take help from Management Consultants to avoid future problems and find right solution without wasting time and effort by doing smart work and this is the reality for the industry nowadays. People in INDIA have big misunderstandings with the term “Management Consultant” they don’t know the real meaning of the “Management Consultants”, how they work, why people follow them, how they find the solution, why someone needs the help from management consultant, they don’t know the value of system creation in an organization, they don’t know the value of being organized etc. so on and so forth so like this doubts people have in their mind when it comes to “Management” or “Management Consultancy”.

Let’s see the current status of Management Consultancy now in INDIA. As per the recent research “The Management Consultancy” industry has grown up to 30% based on the skills of respected consultants also the estimated up to Rs. 30,000 crore Management Consultancy Industry.  So, the approximately  50% of the people are taking help from professional management consultant in various ways like by becoming external for organization, for a temporary basis  or project wise or only just consultancy, for making business more profitable and reducing the cost or reducing the overheads and overall improving the organization’s performance and educating the team or staff members of the  company including government and public sector companies but rest of the people may think that we are self-have enough knowledge compare to third party, some people criticized the management consultants for their work structure and plans that they are failing to make our business successful, they think the service or help of management consultancy is too expensive. The biggest problem of these people is they don’t want the consultancy part of the modifications in executions they just need more money in lesser time without doing constructive efforts so, they will start criticizing you and also they will make you feel that you are failing and you don’t deserve to be consultant even if you are authorized or certify consultant.  These people also have the common tendency of thinking that CA, Lawyers, Ph.D. holders, and MBAs will help them in there all the problems and they have other options to outsource the project. So, why they will need “Management Consultant” isn’t it?

The future of this multi-billion dollar industry is growing with changes every minute. We need to become versatile and updated to adapt these changes. So, it’s more than Philanthropic Advisory, yes you read it right just giving advisory will not work anymore. The major change is the Digitization, AI, Analytics and Cybersecurity because of this there are hundreds of analytical tools, models, templates are available, with the help of research & development work some methodologies also changed and new methodologies are getting developed the conclusion behind this is that, the amount of work done by people will replaced by emerging technology this will affect the costing of this industry. The big players of this industry like BCG, IBM, Deloitte, and PricewaterhouseCoopers have incorporated the digital, AI and Cybersecurity changes. So, you might be facing some situations where you have to change your strategy or plan or business model as per the value-based pricing models but as usual client will continue to complain about your fee structure no matter what! Similarly consulting organizations will continue to face the problems while finding skilled and talented consultants to become the asset for the “The Management Consultancy” industry. Globally this is mostly seen as a practical solution for this industry with respect to this the money, time, efforts investment in new technologies will tend to raise the revenue of the company So, companies need to look for their own growth strategy.

Finally, we need to strengthen the framework of our “The Management Consultancy Industry” in INDIA. 

Best Groups for Business Networking You Should Join in India

Best Groups for Business Networking You Should Join in India

As a business-minded person, we always look for some opportunity to do business with or to make customers or to do business deals with others, etc. but sometimes you may not able to find proper people. In business networking one can say that the structure is like help each other and grow together but some people have big misunderstandings like you will be making direct sales, you will able to get qualified leads for business, also in such groups competitions for the same services that your business is giving, etc.

The reality is business networking group helps you to grow on a long term basis, provides you other professional contacts, they give the opportunity to establish a trust among all group members, give you the all kinds of knowledge on [latest trends, current position of market etc.], gives you opportunity to introduce your business with others. In short, you will share your business cards, you will discuss with group members, share your knowledge, will give advice on small-small things, value-added discussion among group members, and meet different people every time you visit. You will get to learn the experiences of others their stories and challenges and how they overcome them, you may find mentor for yourself and for business growth.

If are in India or you want to do business networking in India, then let’s find out the business networking group or join a business networking group in India.

1] The BNI – Business Networking International

BNI is the largest networking group in the world. For India it’s BNI India. One of the biggest advantages of this group is you contact anyone from around the world, from around the country respectively. You have to spend a day every     week with BNI group. The joining cost may differ from country to country. This group is kind of that you are doing real investment for your business and it’s worth joining this group. You will get several benefits like learning, professional and personal contacts, motivation, mentors and the focused mindset people.

2] IMC – Indian Merchant Chambers

The IMC is one of the legendary organizations which help you to identify the business opportunity across the country. The IMC is a primary chamber of trade and commerce industries in India. The biggest advantage is opportunity for networking global trade and commerce industry and making India strong economic nation worldwide.

3] Rotary International

The rotary international is a worldwide service organization with the goal to do the business together and provide the public services on goodwill. They will guide you on each and every step when you are a part of this group. All the members of this group are known for ‘Rotarians’ and usually they work on principles. The group is open to all types of people who also have to meet once on a weekly basis.

These are the best business networking groups in India. In addition to that, you will find more local groups in India state and city wise also.  

- By PuiSSance We Team 

Top 4 Major Reasons: Why Small Business or Startup Business Fails

Top 4 Major Reasons: Why Small Business or Startup Business Fails

Nowadays we live in the 20^th century. Till now So, many changes have occurred in our economy.  The overall economic condition of the counter also has been changed. To run a country or to run an organization your economic conditions should be strong and positive, with respect to that, the structure of the economy and market also has been changed. Similarly the business model also has been changed. Now I think you can easily make out the real reasons for failing small business or startup businesses are also has been changed.

If you analyzed from past years the structure of business model and the market position you will find that, people are seeking business opportunities always like you never imagine such as people may do business in these ways for example earlier the fruits shop vendor was selling the fruit as it is but now they are selling slices of fruits, you get easily available chopped vegetables, small business from home(Homemade breakfast, lunch, dinner, cakes, chocolate, all other food category stuff, reselling of other household things, etc. ), the freelancer work for  developer, designer, photographer, chef, etc. , professional organization, professional people. Now you can again make out if you need any particular service for you and you searched in the market you get lot of same service providers. Then it becomes more difficult to keep trust.

When you do a business or customer interaction the trust factor is the main key to running a business smoothly including the cash flow. So, very first reason is Saturation.  Saturation is the biggest reason which will slow down your business process and if same situation for long then you may find yourself winding up your business. For example You opened an IT Organization providing the services of web development but in the market you will find thousands of companies providing the same services. Also if you think as customer, they may get different quotations for the same requirement. Then customer starts comparing and most recent research found that they will take service from where they think we can easily rely on them. So, the same the trust factor plays very important role.

 

Another reason is the strategy. Most business owners fail to make a proper execution plan or the system they work. If your business is taking required modification as per the market and economic conditions then you don’t have to worry. In reality if you don’t have planes then it’s very difficult to sustain your business and end result will be you have to shut down your business. You can prevent this situation by creating versatile and dynamic strategy for your business as per the current market situation, economic condition of the country and with latest trends.

Another reason is ignoring the behavior of the customers. In almost every business we keep in mind that customer is a ‘God’ or ‘Boss’ and always give them a royal treatment. If you don’t understand their demands then it’s a big problem. For example: if you have an electronics goods shop, one customer came and asked for a mobile phone having latest features. You show them a mobile phone with satisfying his/her requirement including the cost and also giving the option for negotiation for the amount. But simultaneously customer is also searching same mobile on online selling sites. He/she finds some better options online and buys from that particular site. So, the shop does not have sale in this particular case. Here you may have to consider the behavior like age group, gender, working style, etc.

The most important reason is doing business for short term money or taking instant lot of money from customers. As a business person you might be facing lot of financial pressure, pending dues from other suppliers, etc.  In such cases your one side of mind may think that, make a customer fool to get money or to get first order you also agree to give the services which your business is not having that particular service for the purpose of not losing the customer. If you do so, this will not run for a long time. Because customer is not willing to trust you. You may do this several times with new customers or repeated customers but one day customers will know what you are doing then they will not come to take your service. Now a day in this smart revolution customers is also becoming smart.   So, Plan properly the marketing & selling strategy from professional Management Consultant.

If you thinking why need Management Consultant Please read here.     

- By PuiSSance We Team.  

Top Biggest Common Small Business Startup Mistakes to Avoid

Top Biggest Common Small Business Startup Mistakes to Avoid

In today’s world of economy and business markets the model of business is changed as time and generation changes, therefore, the business opportunities are also increased in form of freelancer, on hourly basis, part-time, full time and the micro, small, medium and large enterprises, etc.  In order to start the business, you need a lot of desire, a focused mindset, willing to make all efforts to accomplish the goal.  If you are one of them who wants to own a business or start the business on his/her own then you should really take care of some of these common biggest mistakes that possibly one can do while starting a business. Let’s list out what might be the mistakes are:

• Not Having Motto Or Goal For A Business
• No Proper Planning of a business
• Not Doing Market Research
• Not Able To Manage Staff
• No Financial Budgeting
• Note Taking Help From Management Consultants
• Waiting For Investments Or Someone To Invest
• Starting A Business With Off Track Niche
• Lowering Your Business Cost
• Not Doing Constructive Marketing
• Not Doing Proper Legal Documentation Of A Business

Not having a motto or goal for a business

If your business-level is at a startup then please write it down your end of a business, generating money from a business is not a goal. As a business professional you do work hard and earn money. So, set such a goal that will bring the change in economy and will last for a longer time. If you didn’t plan then you will not have a direction on how to take forward steps for your business and you will get confused and always surround by the question in your mind with this you will feel like your now in a trap and there are no solutions for this, but such cases do take help from the one who has proper and correct knowledge like management consultants or strategist. 

No proper planning of a business

Before you come under the category of startup level in your mind you have lots of ideas. In order to convert those ideas, in reality, you need to put lot efforts and hard work, but it did everything without proper planning then it will be like we just work hard without getting nothing. If we do planning or discussions with management consultants. One can get an overall idea n how to execute the idea and how to get return on investment in a systematic way.

Not doing market research

Now in the market, there are so many business ideas are out there. Such ideas ware people get influenced within a seconds and start doing actions to execute that idea, but some of business principle is sustainability. So, in order to get desired result we need to keep on doing hard work patiently and if we didn’t then we tend to close the business setup. To avoid that market research is very important. You get to know current market status, what market is looking for and other consumer requirements etc.  For that you need to have proper people who will help you out in this and you can rely on it.

Not able to manage staff

Every startup owner or founder has created an imaginary vision while starting a business. The vision is like they will get good team members and they will get control over those team members easily and will get work done from them. In reality Itis very difficult to find good people and experienced people initially. You need to take people like similar mindset people so that, they are ready to survive without money in tough times of the company and will not leave you or owner or founder or management alone. Like you when you start business keep in mind your income will not flow early it will take time like a year or 2-3 years to get going. So be prepared for those situations. Never lose hope. Keep on trying even those it very difficult. Once you face this kind of challenge and came out successfully you will become unstoppable.

No Financial Budgeting

Now you finally open the company with all positivity and desired having required investment of money or your savings money. So, the initial six months you did properly spend money on office expenses, salaries of all employees, etc. and then suddenly you will find yourself in big depth. During this whole process, you will never know how much money you spend and when your tough time comes then you might not having the money that will help you to retain your business productivity. So, financial budgeting is very important. Please be careful while spending money on expenses. Get help from proper professional financial advisors.  

Note Taking Help from Management Consultants

In our human body, our heart is main and import part similarly in every business whether it is small or larger the management is a very important part of the organization. In India, we have seen mostly founder or owner think him/herself as they know everything and with what little knowledge they try to make the system without any proper knowledge which indirectly affects their working productivity.  So, without wasting time do take advice from management consultants which will lift up your business by doing smart work.

Waiting for Investments Or Someone To Invest

There are people who themselves don’t work hard for their own business, but someone else should work hard and do I for them. So, practically his does not happen. So people ask them to invest and work together. Most importantly one person can’t run a business it needs a group of people and we need to help each other and grow together.

Starting a Business with Off-Track Niche

There are people who act like someone else is doing so, I will do the same. In business, this doesn’t work. In this process, people might choose the niche without thinking and research work we called it homework.  So, sometimes this kind of chosen field might not be grateful to you. You need to think properly while choosing the business field. In these situations the management consultant will help you out.     

Lowering Your Business Cost

As a business person one thing you should keep in mind that, you should not lower down the product cost or services cost. In order to get more clients or customers. Please do proper research before taking any decision.

Not Doing Constructive Marketing

One thing keeps in your mind. Companies good time or bad time never lose marketing. Keep on doing the marketing.

Not Doing Proper Legal Documentations of a Business

Once you take the decision of starting a new company or starting a new business. Be sure that you register yourself properly in the law of government of India so that you can get reliability. Clients can rely on you without any doubt. 

- By PuiSSance We