Where your experience becomes your business.

Why Independent Consultant Businesses Are Thriving

Why Independent Consultant Businesses Are ThrivingAs the world emerges from the economic catastrophe of 2008, some businesses seem to be thriving more than others. You can study facts, figures and metrics all day to determine why some businesses have recovered more successfully than other organizations, but I believe that the differences between successful companies and those that are on the road to failure are pretty simple to understand. You just have to look at how these companies operate. By taking a look at the business world in this way, it becomes clear why independent consultant businesses are thriving.

Preparation and Contingencies

“Proper preparation prevents poor performance” – have you heard this one before? It seems like a simple concept, but you'd be surprised by the number of businesses that fail to prepare for events such as the recent recession. One major difference between the companies that were able to recover from the economic collapse of 2008 and those that were not is that the successful organizations had plans to deal with disaster.

Some of these companies were led by visionary managers who realized the importance of preparation. However, many of the organizations that were able to emerge from the recession unscathed did so because they worked with consultants to help them establish a realistic view of the future and all of its possibilities – both positive and negative. Since the pain of the recession is still fresh for many business leaders, more and more of them are hiring consultants now so they can be prepared for when the next economic disaster hits.

When it comes to preparing for the future, independent consultant businesses can help in a number of ways:

  • Generating solid succession plans to keep businesses thriving long after key members have left

  • Providing analysis that can show how a company may or may not survive a disaster

  • Promoting ideas and strategies that are designed to help companies grow instead of retaining the status quo

  • Giving leaders solid planning ideas that come from an intelligent, outside perspective

Corporate vs Independent

Even though I'm a strong proponent of what independent consultant businesses can do, I understand that the large corporate firms have their place in the world. They can deploy thousands of consultants to key areas around the globe simultaneously to implement ready-made solutions, which is something that independents simply cannot do. They also provide companies with a proven name that they can trust. At the end of the day, no one is going to be fired for hiring one of the top consulting firms, even if the results are less than spectacular.

There are strong advantages to hiring independent consultants, though, and many businesses are starting to understand this fact. They've realized that they're not necessarily getting more education and experience from the top firms, and they understand that smaller firms are able to implement solutions more quickly and nimbly. Moreover, they've come to realize that independent consultants are able to offer true innovation instead of stale strategies.

Since businesses are becoming more aware of what independent consultants can do for them, the demand for the services of smaller consulting practices is rising. This is especially true within the realm of small and mid sized businesses, many of which have sprung up in the aftermath of the global financial crisis. Why are some of these smaller companies growing while others stall, sputter and fail? In many cases, the successful companies have hired independent consultants to help guide their businesses into a lucrative future.

Independent Consulting Businesses Will Continue to Thrive

I've only begun to scratch the surface of why independent consultant businesses are doing so well these days. In my next post, I'll go into greater detail about why smaller consulting firms are performing so well, and I'll give you some tips to help you join this exciting field. Opportunities for consulting are everywhere today, but you need the right approach to take advantage of them. Stay tuned!


Are you looking for more information about consulting? Ex3matters.com is packed with great resources. Download Buddy Hobart's free eBook, “Experience Matters,” for an in-depth look at the realities of consulting, and obtain your free consulting guides for more information on how you can start your own independent consulting business.