Want to Survive Long-Term? A Business Consultant is What you Need

With competition in the retail jewellery industry being cut-throat, it makes sense for businesses to turn to experts to steer their enterprise in the right direction.

- Suneeta Kaul

To hire, or not to hire business consultants? Most retail entities grapple with this dilemma at some point or the other in the course of their journey. However, it is increasingly becoming clear that the benefits of hiring a business consultant are innumerable; they have been known to re-charge enterprises, turn failing companies on their head, and infuse hope and passion in owners, as well as employees.

One of the reasons why business consultants show positive results, especially in family-owned businesses, is that they are not emotionally invested in the business the way owners are. Besides, they are not constrained by the relationships that the owners might have with one another, which might be preventing the latter from taking difficult decisions. Business consultants can identify and address challenges without worrying about whether they are treading on any family member’s toes. They are experts in their area, and can assess the requirements objectively, whereas owners may be subjective in their judgment.

CHANGING TIMES, CHANGING SOLUTIONS
Retailers point out that what worked yesterday will not work today – new strategies, new ideas are needed, and it is better to turn to experts in the field. Explains Tejpal Ranka, Ranka Jewellers, Pune, “There are multiple reasons why the jewellery retail business needs business consultants. Jewellery is mostly a family business, and things have been done in a particular way for generations. But times change, and with its passage, the way to do business also changes. The market, consumer expectations, attention span of the new generation – everything has evolved considerably.