Category: business consulting

What Is Lean Six Sigma?

“What is lean six sigma?” is a question Western businesspeople have been asking themselves for decades since the meteoric rise of Japanese industry in the 1980s. Since the term’s introduction, many companies have successfully implemented lean six sigma into their production processes and workflow. It has become, to some, an article of faith. For others,…

How to Create a Business Plan

Many people never learn how to create a business plan even though they own and operate a business. Maybe they think formal business plans are reserved for multinational corporations, to be executed by highly educated executives. Maybe they assume a business plan is too complicated for a small business owner to learn, or more detailed…

How to Develop a Strategic Plan

Many entrepreneurs start their businesses with a relatively simple idea for a product or service. They also have a relatively simple goal of producing and selling that product or service as profitably as possible. Yet, this isn’t unique just to new entrepreneurs. Senior managers in charge of large divisions within publicly traded companies, however, also…

Warren Buffett: A Master of Business Relationships

Warren Buffett is a name you’re guaranteed to have heard of if you’ve paid any attention to the international business landscape in the last fifty years. There is practically a whole sub-industry of literature out there promising to unveil the secrets of Buffett’s success. Buffett – also known as the “the Oracle of Omaha” -…

How to Read Financial Statements

Knowing how to read financial statements is one of the most vital skills you can possess in business, and an essential one for a consultant. Financial statements are the tools used to assess the overall financial health of any organization. They give you a report card on a variety of crucial factors such as income,…

Types of Consultants

There are many types of consultants that exist to help organizations address business issues. Being a consultant can be a fulfilling and lucrative career. That is, if you are willing to put in the long hours, continue to learn, and consistently produce results for your clients. Types of Business Consultants Before we talk about all…

Effective Leadership in Turbulent Times

In turbulent times like these, effective leadership sets the tone and direction for an organization. Nerves are on edge and uncertainty can decrease productivity, but an effective leader can motivate others to remain calm and keep the larger vision in view. What Is Effective Leadership? Before we can talk about effective leadership, it is important…

New Excel Functions: Power Query, XLOOKUP, & Others

New Excel Functions—for some of us, every Excel update is like Christmas morning. Others shudder at the thought of using Excel (though that probably means you’d have a tough time as a management consultant). Those who know the power of Excel know it offers much more in the way of simplicity than complexity. A little…

Top 7 Business Frameworks

Frameworks play an important role in helping consultants and business leaders approach organizational problems from different angles. They provide structure that inform day-to-day operational decisions and strategy. They do this both on a micro and macro level. Business frameworks aid businesses in meeting goals and reaching objectives that lead to long-term success. To help you…

First Mover Advantage: Business Framework

First mover advantage has become a kind of gospel in the business world. Companies everywhere are making huge investments on the assumption that being first to market with a new product or service will give them an insurmountable edge over their competitors. But if you’re not well versed in startup-speak, you might find yourself wondering…