FAQ's

General Strategy Consulting Questions

Q: What is strategy consulting?

A: Strategy consulting involves providing expert advice to help businesses make high-level decisions to achieve their goals and improve overall performance. Our consultants work closely with you to develop tailored strategies based on thorough analysis and industry expertise.

Q: Who can benefit from strategy consulting?

A: Businesses of all sizes and industries can benefit from strategy consulting. Whether you’re a startup looking to establish a market presence or a large corporation aiming to optimize operations, our services can help you achieve your objectives.

Services and Process

Q: What services do you offer in strategy consulting?

A: Our strategy consulting services include market analysis, competitive analysis, strategic planning, business model development, and implementation guidance. We tailor our services to meet the specific needs of your business.

Q: How does the strategy consulting process work?

A: Our process typically involves the following steps:

  1. Initial Consultation: Understanding your business goals and challenges.
  2. Research and Analysis: Conducting thorough market and competitive analysis.
  3. Strategy Development: Creating a customized strategic plan.
  4. Implementation Support: Providing guidance and support during the implementation phase.
  5. Performance Monitoring: Tracking progress and making necessary adjustments.

Benefits and Outcomes

Q: What are the benefits of hiring a strategy consultant?

A: Hiring a strategy consultant can provide numerous benefits, including:

  • Expert Insights: Access to specialized knowledge and industry expertise.
  • Objective Perspective: An unbiased view of your business challenges and opportunities.
  • Improved Efficiency: Streamlined processes and optimized resource allocation.
  • Competitive Advantage: Strategies to stay ahead of competitors and capitalize on market opportunities.

Q: How will strategy consulting impact my business? 

A: Strategy consulting can lead to significant improvements in your business performance, including increased revenue, enhanced operational efficiency, and a stronger market position. Our goal is to help you achieve sustainable growth and long-term success.

Engagement and Costs

Q: How long does a typical strategy consulting engagement last?

A: The duration of a strategy consulting engagement varies depending on the scope and complexity of the project. On average, engagements can last from a few weeks to several months.

Q: What are the costs associated with strategy consulting?

A: The cost of strategy consulting services depends on the specific needs of your business and the scope of the project. We offer customized pricing based on the level of support required. There is a consultation fee. Contact us for a detailed quote.

Getting Started

Q: How do I get started with your strategy consulting services? 

A: To get started, simply contact us to schedule an initial consultation. We’ll discuss your business needs and goals, and outline how our services can help you achieve them.

Q: What information should I prepare for the initial consultation?

A: For the initial consultation, it’s helpful to have information about your business goals, current challenges, market position, and any specific areas where you need support. This will allow us to better understand your needs and provide tailored recommendations.

Some General Questions:

Q: Do you need a business plan?

A: Yes. There are multiple of reasons.

  1. In the first year, a business plan will help minimize the risk factor of your business failing.
  2. If you are looking for investors, a business plan will help give them a roadmap of where your going with your business.
  3. A business plan will help you decipher financial projections and where your your money will be allocated. 
  4. A business plan can guide you in your future goals. It will help you to not make spiratical decisions that could cause harm. 
  5. If your looking into a new market, a business plan can help you see your demographic and geographical areas. 

Q: Do you really need someone to help assist in the application of the 501(c)(3)?

A: Yes and No. It will be helpful to have someone on your team who knows the terminology that the IRS are looking for to approve you. Also, the financial projections and documents can be overwhelming. Moreover, if you are equipped to dictate what they are asking and have the time and patience to do the application, then you will need no assistance. 

Q: Is starting a business easy?

A: No. To start a business there are State requirements that you have to initially do before starting your business. Business is a diligent procedure to get started and has a lot of particulars that have to be done. If it is done wrong, there are consequences that will happen. Always have a consultant on hand and ready for your questions. 

Q: Should I get my business certified as a minority owned, woman owned, or any other certifications.

A: It's up to you. To be certified, it take gathering a lot of documentation and the application is tedious. It is benefits to being certified:

  1. Tax incentives for working with other certified business
  2. Ability to build new network connections
  3. Be able to differentiate from other businesses
  4. Can increase your financial standing
  5. And more...

Q: What is the difference between all the business structures.

A: This is summarized

Sole Proprietor:

  1. Easiest to form and most common.
  2. No legal difference between the owner and the business, you are personally liable.

Partnership:

  1. All individuals who are involved with the business can manage and share the profits and losses. No difference than Sole Proprietor, you just have more people involved.

Corporation:

  1. This structure enables legalities to be separated from the owner(s) and the business. 
  2. When dealing with taxes, you  and the shareholders personally will be taxed and the business will be taxed, yet, creating double taxation. 
  3. Created this structure can be more difficult and more expensive. 

S Corporation:

  1. Creating this structure give your the liability protection as a Corporation.
  2. You can not have no more than 100 shareholders, in the USA.

Limited Liability Company (LLC):

  1.  With this structure, it is the most common.
  2. You can pass your business taxes through your personal taxes, but you will pay individual taxes on the business revenue.

Limited Partnership (LP):

  1. If you do this structure for your business, partners will have limited liability for the company based on the investment that they added into the business. 
  2. You must have one LP

Each state is different in the legal formalities of structuring your business.

Disclaimer: We Are Not Lawyers

The information provided on this website is for general informational purposes only and is not intended to be legal advice. We are not attorneys, and the content on this site should not be construed as legal advice. For legal matters, please consult with a qualified attorney.