13 ways how consultants can save more time and money

For an independent consultant, time is money, irrespective of the industry you belong to. Finding creative ways to save time can reduce stress and build up more efficiency.


13 ways how consultants can save more time and money

Here are 13 ways how consultants can do it:

1. Follow the two-minute rule of thumb:

There are many business related tasks for a consultant that helps to stay organized and efficiently manage time. A good technique is the “Two Minute Rule.” If you can do it in less than two minutes, do it right away. These include things such as answering and archiving emails, scheduling meetings, and posting on social media etc.

2. Don’t Wait:

Take the time to address small tasks as they come. Avoiding procrastinating can boost performance effectiveness remarkably. Hence, consultants should ensure timely completion and execution of tasks. And avoid last minute hassles associated with it.

3. Take Advantage of Being On The Go:

Independent consultants often have a lot of downtime waiting for meetings to commence and similar incidences that eat away time. Luckily with modern technology, you can make the most of these precious extra minutes and do more for your business. Through your smartphone, you can check your email, follow up on an inquiry, or set up meetings seamlessly.

4. Use Your Camera:

You’re smartphone camera is a valuable business management and marketing tool. Make the most of this device to

  • Save time and stay organized
  • Digitally organize your business cards
  • Share interactive and real time updates on your social media profiles and website
  • Update your profile photo on LinkedIn to a professional headshot

5. Opt For Automatic Tax Withholding:

Independent consultants are required to file quarterly taxes. If you are like most, you spend a lot of time trying to keep track of all of your deductions and expenses throughout the quarter and estimating what your tax payment will be. Then you either file your taxes hoping you have done it correctly or you hire an accountant to do it for you.

6. Find An Advocate:

Independent consultants want to spend time on completing a project, not on creating invoices and collecting payments. Invoices need to be detailed – which means you need to spend time tracking your hours, expenses, milestones, project progress and more – and formatted and submitted for payment. That’s when you need an advocate that you trust, that is reasonably priced, and who will do this for you. The biggest challenge is finding someone who understands your business and who cares enough to treat it the way you do – who will do the job without damaging your relationship with your client, who will resolve issues quickly and who can work independently.

7. Follow a specific process and use frameworks:

It is very necessary for any consultant to follow a specific process while devising business strategies, that can save time and grant business insights. Also, Consultants use frameworks and business acumen to solve complex issues that aren’t readily apparent. They often have little time to make a recommendation so they practice frameworks.

8. Use data to drive analytics:

Data Analytics is the practice of using data to drive business strategy and performance. Consultants think logically and are realizing the power of data analytics solutions to drive revenue generation, to support and guide their solutions, and provide superior customer service to score over competition.

9. Use Email Marketing Tools and Calendars:

Time management is an important part of anyone’s day but as a consultant you are in demand. By using email marketing tools, planners and calendars, you can time your appointments and meetings or complete your work in sessions, all while staying focused. As a consultant improving your productivity is always a high priority. Email marketing can be the backbone to your entire consulting practice, nurturing potential clients and getting repeat engagements.

10. Devise Best Practices:

Independent Consultants usually strive for long term and continued growth within a short time. Hence to achieve such goals, they should devise and follow some best practices related to the consulting industry. Best practices can give the consultants a direction and guide them help to achieve their desired goals in a timely manner.

11. Use Technology as a Strategic Tool:

Best managed consulting firms and independent consultants use technology as a strategic tool to improve efficiency, scalability and client service. They realize the importance of operational efficiency and the automation of key tasks—both of which can provide a true competitive advantage. Integrating technology can streamline workflows, identifying opportunities to enhance productivity and also save a lot of time.

12. Stay ahead of Compliance Requirements:

You can get in touch with any renowned and well managed consulting firm to be proactive in meeting all the regulatory requirements. You need to stay abreast of compliance requirements, legal rulings and regulatory changes that affect how you run your business. This can help you to stay current on important regulatory and compliance development, and save both time and money in the long run.

13. Do Smart Planning and Budgeting:

As a consultant you need to strategically plan and stabilize your budget which might save a lot of time in the future. This will help in organizing tasks and streamlining business operations.

As a consultant you too should make the most of these tips and reap all the benefits that come alongside.

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