Small businesses often use consulting services, as an alternative to full-time employees, to carry out various tasks and or projects. Consulting firms can assist you with time sensitive projects often known as “Project Based Consulting”. One definition used to describe Project Based Consulting or Project Outsourcing is: Outsourcing or “out-tasking”, a specific task(s) or project. In some cases, the tasks will be outsourced to a sub-team which is staffed and managed by the outsourcer.
There are many benefits to utilizing a Project Based Consulting firm for your business needs. Many Project Based consultants are experts in their fields and can add tremendous value to your business. For example, a Social Media Strategist, may be brought in to help with the launch of a new product, a Consultant who specializes in Mortgage Banking, may be brought in to assist with implementing a new compliance program for a bank. Here are a few of the benefits of utilizing a consulting firm:
Timelines: When an organization has limited resources but an aggressive time line to meet, a Project Based Consulting firm can certainly come in handy, particularly one that specializes in your industry. Essentially, as an organization, your team members can work on more than one project at a time, while staying on track with time lines and meeting organizational goals.
Reduce Training Costs: The Consulting team is responsible for training and skill development of their team. This means that, your staff can focus on their tasks while not having to worry about being pulled away from their daily tasks to train new employees.
Scalability: The ability to increase staff on an “as needed basis”, or downsize. This allows the organization to fulfill staffing needs without the long term, permanent commitment.
As a small business owner, or even a large organization, consulting services can add value in helping your business achieve its organizational goals.