9 Types of Consultancy businesses

If you are trying to explore starting a business in consultancy this post will help you to understand the various types of consultancy firms you can start depending on your skillset and expertise. Becoming a consultant company is a very attractive option in today’s chaotic world if you have all that it takes to solve your client's problem. Consultants may work with multiple companies at one time, only spending a few hours a week on each. Or, they might be brought in full-time for 6 months to solve a bigger problem.

What is Consultancy

Dictionary meaning – The practice of giving expert advice within a particular field. Consultant, Consultancy company/firms are the generic words used for the professionals who give professional and expert advice in a particular area and has a wide knowledge of the subject matter.

A consultant or a consultancy firm comes into picture when a person or a company wants an expert advice/guidance without actually hiring the expert. i.e., they just have to Pay for the advice or the short-term work which they are expecting from the consultant. For example you contact a tax consultant only when filing tax returns or when some deals taking place instead of hiring them.Consultant-types

Types of Consultancy company/firms

Becoming a consultant company is very attractive option in today’s chaotic world if you have all that it take to solve your clients problem. There are many types but here let me try to put some happening consultancy options for you.

Human Resources or HR Consultants

Management of an organization’s workforce, or human resources. Most of the companies outsource the job of attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture, and ensuring compliance with employment and labor laws. You need to co-ordinate between candidate and the companies. There are many models in which you can work out with the client in this kind of business. HR nowadays also  focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, diversity and inclusion.

Strategy Consultants

Helping organizations figure out any problem in their operations and work strategy and to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Its also called as management consultative for the company where in you can play a key role in technology implementation and workflow management.

Technology Consultants

Delivering software solutions that improve business performance of the clients and Turning the initiatives into reality  – in other words, the strategic know-how and understanding of key technology drivers to plan the adoption, development and integration of advanced technology into clients business. Providing a scalable architecture and enable the client business to gain competitive advantage over the others.

Public Relations or PR Consultants

Public relations (PR) is the practice of managing the flow of information between an individual or an organization and the public. Your role will be to build reputation or a point of view about the company which you serving in front of public, investors, partners and employees. In other words, you control what other thinks about company’s leadership, products, or of political decisions

Marketing Consultants

Marketing Consultants job is to focus on developing strategies in order to successfully promote, sell and distribute goods and services to targeted consumers. On a larger scale, marketing serves as a viable means of getting a new brand name, product or service into the public eye and transforming it into a lucrative business. Companies, therefore, seek the expertise of marketing consultants in order to discover creative techniques for launching as well as sustaining their business.

Legal Consultants

Role of a legal consultant is to identify, prevent and solve legal issues facing a company or a client. There are different specialization in this field like legal consultation in employment, banking, contract, corporate, intellectual property, tax, real estate, information technology or trust.

IT Consultants

Information Technology Consultant job is to recommend Computer Hardware, Software and Networks to build high performing systems and workflow. IT consultant provides technical expertise in areas of information systems design, software programming and development. Technology consultants are having specialization in different areas and are also called as information system consultant, system applications consultant, data management consultants and network consultants.

Social Media Consultant

Role of a Internet marketing agency or a Social Media Consultant is to help companies to increase traffic to their websites by methods of search engine optimization and content and by social media marketing. Your role will be to build strong online presence of the client and build a brand online, by using various social media platforms like social networks and social media. Keep yourself up to date with new and changed capabilities offered by the web

Financial/Investment Consultants

Financial consultants, also known as financial advisers or financial analysts, are licensed professionals trained to help individuals or organizations make intelligent financial decisions. These professionals typically use information about market trends, stock values, taxes, and other economic factors to help a client decide if an investment is appropriate or not.

Having a consultancy firm can be very profitable and have a high churn rate. You can learn about the consultancy experiences  and processes before going ahead and setting up your own consultancy firm.

Courtesy: Best consultancy management in Australia