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Are you starting a new business? Is your business planning to expand? Are you facing changes in your market or your industry?
These are questions that take time to consider and weigh the outcomes. Not every business has the luxury to sit down and debate these topics, unless of course it is a case of starting a business from scratch. Existing companies sometimes expand into competing in new and different industries due to market changes that cause them to become more flexible.
Naturally, this is a time when confiding in a business consultant is advantageous to help build a strategy for the expansion of an existing business or opening a new corporate venture. In any scenario the perspective of a consultant will help guide and build a strategic plan so the business may move forward easily and without incident when working in unfamiliar market territories.
It all begins by identifying the priorities driving the need to expand, which then result in clarifying the challenges and goals for this type of move. A business consultant acts as a sounding board that aids in arriving at measurable and practical manoeuvres towards achieving the goals. The following list of questions, are the stepping stones of the process,
- Is your business operating in a way that reflects your mission?
- Are your goals in line with the realities of your industry?
- What do you need to make sure your business continues to grow?
- Does every aspect of your company contribute to reaching your business goals?
The benefits that result in strategic planning are first the insight gained of the present market or industry. Secondly, the creation of a roadmap, so to speak, for the business to follow that enable it to reach the goals set forth by the plan. The planning process is an exercise in critical thinking that pays off in an increase in business. Therefore, planning prepares a business for the following,
- Gain a snapshot of the company’s strengths, weaknesses, opportunities and threats
- Know the threats and opportunities that can impact on your plans
- Improve efficiency to help you meet your objectives
- Have a plan to overcome problems before they come up
- Seize business opportunities that fit your mission and vision, and avoid those that don’t
- Increase cooperation as employees focus on common goals
- Manage and maintain a consistent growth
- Become ready for change
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If you business advice, make sure to call the professional Ottawa accountants at Envolta. We can offer business consulting services to help you make sound decisions with favourable financial implications. Building relationships with our clients is our number one priority -You are not just a number. If you are not 100% satisfied with your service, we will give your money back.