Article last updated on January 29, 2022
A growth strategy consultant helps companies understand what it takes to be successful in today’s marketplace and then provides them with the tools necessary to achieve their goals.
A growth strategy consultant can help you determine where your company stands on the path toward success. They will also work with you to develop strategies that will help you achieve those goals.
Businesses hire a growth strategy consultant because they have the expertise to help you make sense of all the data out there and to create a plan for reaching your business objectives.
I have been working as a growth strategist for the past seven years, and most businesses I’ve worked with have one thing in common. Lack of clarity on what exactly to do to grow their business.
Time and time again, I see businesses struggling with how to get from point A to point B. The problem is that they don’t know where they are or where they want to go.
How do I know if my company needs a growth strategy consultant?
You might need one if…
- You are looking at ways to grow your business.
- Your company has been around for some time but is not growing as fast as you would like.
- You want to change direction or take advantage of new opportunities.
- You don’t have enough resources to keep up with market changes.
- You are concerned about competition.
- You are unsure of how to get more customers.
- You are trying to figure out why your sales aren’t increasing.
In short, people who don’t want to throw darts in the dark, they hire growth strategist.
What Do Growth Strategy Consultant Do?
The job of a growth strategy consultant is to help you achieve your company’s vision, mission, and KPIs.
They will help you identify your strengths and weaknesses so that you can focus on areas of opportunity. They will look at your current situation and come up with ideas on how to improve your position.
They may suggest ways to reduce costs.
One of the fundamental things is to help ensure that you stay focused on the right things.
Most businesses get caught up in day-to-day activities such as making sure orders arrive on time, meeting payroll, etc.
When these tasks are completed, they often feel as if they have achieved something worthwhile. However, this isn’t necessarily true.
If you find yourself doing too many things without any clear idea of which ones are important, a growth strategy consultant can help.
Very often, not having a clear direction leads to confusion and stress. This is especially true when you are trying to decide whether to invest in paid marketing, organic marketing, or something else.
There are so many options available that it can be hard to choose. This is where a growth strategy consultant must be an expert. They will help guide you through the process of deciding what to do and when to do it.
Setting realistic expectations
It is easy to get excited about the possibilities of growth. But sometimes we set ourselves up for disappointment by setting unrealistic expectations.
A good growth strategy consultant will help you understand what you can realistically expect from your efforts.
Most businesses I’ve worked with think that they are just one Facebook ad away from skyrocketing their business.
If you are building a sustainable serious business, then you know that there are other factors involved. You also know that you cannot rely solely on social media for success.
Business models can vary greatly, but one thing is consistent. If you want to grow your business, you need to be strategic and focus on your core strengths.
Actionable growth strategies
Once you know exactly what you can achieve, a growth strategist will give you actionable strategies to implement.
Growth strategies must be easy to understand and implement, because the last thing we want is more complexity. We want a strategy that is simple and easy to implement to make our business better.
The best growth strategists will ask questions such as these:
| What are your strengths and weaknesses? | Are you making progress towards your goals? | What are your short term and long term goals? |
| Who are your competitors? | What is your unique value proposition? | What are your customers saying about you? |
| What are your brand values? | What are your customer standards? | Do you have an effective sales funnel? |
| What are your biggest challenges? | How much money are you spending on advertising? | How much time are you investing into each channel? |
| Is your website optimized for conversions? | Have you considered outsourcing some work? | Where does your content come from? |
| Do you have a plan to keep up with new trends? | Do you have a plan for scaling your business? | Do you have any gaps in your knowledge? |
| Do you have enough resources? | Do you have the right people? | Do you have support systems in place? |
| Do you have clear KPIs? | Can you measure ROI? | Do you have processes in place? |
I could list more of these questions, but the main thing is that growth strategist must understand the complete situation before coming up with solutions.
That’s why it’s important to hire a growth consultant who has experience working with similar companies. They’ll be able to provide insight into how you compare to others in your industry.
Why Hire a Growth Strategy Consultant?
As mentioned, a good growth strategy consultant will help you gain an understanding of your current situation so you can see exactly where you stand and which areas need improvement.
In addition, they will help you identify key issues that could prevent you from achieving your goals. Finally, they will help you set realistic targets and develop a road map for getting there.
There are three main reasons why you should consider hiring a growth strategy consultant.
1. They Will Help You Make Sense of All the Data Out There
It is easy to become overwhelmed by all the information available on the Internet.
There are so many articles, blog posts, books, podcasts, videos, etc., that it is hard to know where to start.
A growth strategy consultant will be able to help you sort through all the noise and provide you with an analysis of your situation.
2. They Can Create Strategies That Will Help You Reach Your Objectives
As mentioned above, a lot of companies struggle with deciding what to do next.
This is because they don’t have a good understanding of where they are now, where they want to go, and how to get there.
A growth strategist can help you develop a plan that takes into account your current situation, your goals, and your budget.
3. They Can Identify Opportunities For Improvement
Many small businesses make the mistake of focusing solely on their own operations.
However, if you want to succeed, you need to think about how you can best serve your customers.
A growth strategy consultancy can help you identify potential opportunities for improvement.
For example, you could use a growth strategy consultant to help you decide whether you should invest in a new product line or service.
Or, you might ask them to analyze your competitors and determine what they are doing well and what you could learn from them.
In short, you, the business owner, will benefit from hiring a growth strategy because:
- You’ll have a clear roadmap to reach your business goals
- Identify opportunities that you might otherwise miss out on
Improve business efficiency - Reduce decision overload
- Reduce or completely eliminate marketing ad spend
- Recognize opportunities to improve average customer value
These are the main benefits and reasons for hiring a growth strategy consultant, but there are other things to keep in mind as well, so I want to give you a couple of tips on how to find a good growth strategist.
Tips on How to Hire a Growth Strategy Consultant
It is not easy to find a growth strategy consultant that can actually provide solid results. In fact, most of them talk the talk but fail to walk the walk.
That said, here are some tips on how to hire a growth strategy consultant that will deliver real results.
- Experience: Make sure the person you hire has experience working with similar companies. This means that they should either have worked at a company like yours or have developed strategies for similar businesses.
- Skills: A good growth strategy consultant will be familiar with different types of strategies. They should be familiar with the latest trends in digital marketing because these are the areas that will be most helpful to your business. They should also understand social media platforms such as Facebook, Instagram, Twitter, LinkedIn, etc., because this is where your target audience spends most of their time.
- Results: Finally, it’s important to look at the results that the consultant has delivered for previous clients. If you see consistent positive results, then you know that the consultant is worth hiring.
If you follow the above three steps, you will be able to find a growth strategist that will be able to help you achieve your business goals.
FAQ About Growth Strategy Consultants
What is the average time for business growth strategy consultants to complete their project?
The average time for growth strategy consultants to complete a project varies depending on the type of consulting work that they do. This depends on the size of your business and the complexity of the strategy that you need to implement. Generally speaking, you can expect to spend anywhere from 2 weeks to 4 months. The length of time required will depend on the scope of the project.
Does growth strategy consultant create growth hacking plan?
A growth strategy consultant does not necessarily create a growth hacking plan. However, if you choose one who specializes in growth hacking, he or she will be able to provide you with a detailed plan that includes all aspects of growth hacking. But keep in mind that growth hacking is only a temporary solution until your business achieves sustainable growth.
Is there a difference between a growth strategist and a business growth consultant?
There is no difference between growth strategist and growth consultant. Both terms refer to someone who helps businesses grow. They both specialize in helping businesses increase sales and profits.
Is it necessary for a growth strategist to attend business school in order to understand business strategy?
No, it is not necessary for a growth strategist or any other professional to attend business school. You don’t need to go to college to become an expert in business strategy. The most important thing is direct experience working with businesses.
Can a growth strategy consultant work remotely?
Yes, growth strategy consultants can work remotely. In fact, most of them prefer to work this way. The business climate is changing and more people prefer to work remotely.
What are the top skills that a growth strategist must possess?
It is very important for a growth strategist to have strong communication skills. He or she needs to be able to explain complex concepts to people who may not be familiar with them. Also, he or she should be able to listen carefully and have analytical skills because he or she will be analyzing data about your business.
Can a growth strategy consultant help me find disruptive technology?
Yes, a growth strategy consultant can help you identify new technologies that could disrupt your industry. These technologies can change how your customers interact with your products or services.
What core value proposition should I use when hiring a growth strategist?
When hiring a growth strategist, you should look for someone who has expertise in developing effective marketing strategies. You want to hire someone who understands what makes your company unique and wants to help you communicate that message effectively.
Does my business plan matter when hiring a growth strategist or consultant?
Your business plan doesn’t matter as much as your goals. When looking for a growth strategist, make sure that he or she shares your vision for your business.
Conclusion
Having a growth strategist or business growth consultant as your partner in growth can be incredibly beneficial. It could make a huge difference in the success of your business.
At the beginning of the article, I mentioned that most businesses that come to work with me have one thing in common, and that is a lack of clarity.
That lack of clarity truly sabotages business owners and makes business growth almost impossible.
If you are struggling with business growth, then you owe it to yourself to get clarity on where you are going and why you are doing what you are doing.
You also need to know whether you are making progress towards your goal or if you are just spinning your wheels.
The good news is that once you get clarity, you will discover that there are many ways to achieve growth.
You will learn which methods work best for your situation and which ones will not.
That’s why growth strategists exist. They are experts at helping you figure out what works and what does not. In short, they can help you grow your business.
