A Growth Consultant is responsible for recognising the challenges that organisations face and helping them resolve issues related to their operations in order to achieve sustainable growth.They take businesses to new heights by helping them move forward in a realistic but visionary manner. What does a Growth Consultant do?
What is growth consulting?
Growth consulting is a process that helps organisations identify and fix the issues they face when trying to reach their goals. The idea here is to use specific tools and expertise to support organisations through all phases of the growth cycle.
With growth consulting, businesses all around the world are able to create long-term sustainable growth and establish smooth-running operations.
When does a company need growth consulting?
If a business can relate to any of the following scenarios, then it is highly likely that a growth consultant needs to be brought in:
- If you aren’t making any sales: This is when your business hasn’t been seeing any growth despite having a customer base.
- You’re starting to lose money: This is when you’re not making enough money and have to think about next steps.
- You’ve been in the same spot for a while: This is when you’ve been at the same point for a while now and want to reach the next level of your business faster.
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What are Growth Consultants responsible for?
A Growth Consultant is in charge of reviewing what a business does and developing data-driven recommendations to drive growth and boost revenue.
They start by conducting in-depth research to gather as much information about the company’s objectives as possible. They then fine-tune the company’s processes by creating a strategic action plan that ensures business growth.
Growth experts are also responsible for making sure that a company’s team fully understands the new strategies in place and how to implement them.
They make sure that strategies are executed correctly and that after the new systems are in place, growth continues for the organisation.
Responsibilities of a Growth Consultant include:
- Conduct analysis about what a business does
- Develop data-driven recommendations to drive growth and boost revenue
- Educate team members on new opportunities
- Fine-tune company processes
- Create a strategic plan that ensures business growth
- Ensure that team members are able to comprehend new strategies
- Make sure new strategies are implemented
- Conduct complex analysis in order to find new market opportunities
- Provide plan for post-system growth
- Create a detailed report for upper management
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Skills and expertise of a Growth Consultant
Growth Consultants have in-depth knowledge of business processes and have a proven track record of providing actionable solutions to various growth problems.
They are able to analyse strategic and operational business needs and the capability of assessing complex business issues.
Growth Consultants also have skills that are directly related to the industry they’re in. For example, business Growth Consultants will have knowledge of various business sectors and processes whereas Marketing Growth Consultants will have in-depth knowledge of marketing strategies.
In terms of technical skills, Growth experts have excellent organisational, time management, and communication skills and are able to lead and present with ease.
What are the skills of a Growth Consultant?
- In-depth knowledge of business processes
- Proven track record of providing solutions to various growth problems
- Ability to analyse strategic and operational business needs
- Ability to assess complex business issues
- In-depth knowledge of relevant industry
- Excellent organisational skills
- Good time management skills
- Excellent leadership skills
- Strong presentation skills
- Strong attention to detail
How do I become a Growth Consultant?
Growth experts usually have both a Bachelor’s and a Master’s degree in Business Administration, Economics, or a related field. Individuals can also however immediately start working in the industry after obtaining a Bachelor’s degree.
You can also choose to obtain certifications that are relevant to your field of interest as a Growth Consultant. Check out some options down below:
- Consulting Business Growth: More Consulting Business Clients
- Management Consulting Specialization
- Corporate Strategy
- Consulting Approach to Problem Solving
Salary of a Growth Consultant
As a Growth Consultant, you can make almost $98,400 per year on average. Salary for this role can range from $58,000 – $171,000. The exact amount you make depends on factors like location, skills, expertise, and so on.
In Germany, Growth Consultants can earn anywhere between €39,000 – €76,000 whereas in the UK, they can earn between £25,000 – £70,000.
How much do Growth Consultants make?
| US | $58,000 – $171,000 |
| Germany | €39,000 – €76,000 |
| UK | £25,000 – £70,000 |
How much do freelance Growth Consultants make?
Growth Consultants on freelancermap charge on average:
Rates in this field range between $40 and $96/hour for most freelancers.
The daily rate for Growth Consultants (8 working hours) would be around:
