What is Operational Consulting and How Can It Benefit Your Real Estate Business?
We like to think of consulting as a general term that means one thing: helping others in business. However, there are countless types of consultants out there. In this article, we will be defining operational consulting and diving into the different types of consulting in business operations.
What is operational consulting?
Operational consulting is defined as advisory services that improve an organization’s internal operations and overall performance. Unlike management consulting, operational focuses more on the day-to-day functions of a business and keeping the company running smoothly in all of its divisions. Management consultants advise executives on the management of teams, but operational consultants advise whole teams on consistency and performance goals.
According to Study.com, one must possess the following key skills to be a successful operational consultant: strong critical thinking, analytical and mathematical skills, written and verbal interpersonal communication skills, and the ability to develop relationships with clients and their team members.
Operations Management Consulting in Real Estate
For real estate professionals, leadership skills could make or break their business. These professionals are not only required to lead their team of brokers and agents to success, but they also need to possess the skills that enable them to persuade, convince, and establish long-term relationships with clients.
The recommended skills listed above are similar to those recommended for a real estate broker. Yet the jobs are completely different. In real estate, an operational consultant would be brought into the offices of a brokerage to meet with agents and other team members.
Meetings would be set up to discuss current operations, so the consultant is able to find where there is a void or lack of attention, which is halting the company from further growth. These services include developing service delivery models that are on target and ready to execute. What makes operational consultants so effective is their promise to implement their models into action with their client’s company to ensure optimized business processes.
Types of Consultants in Real Estate
Business Operations Consultant
With the mind of a true business consultant, a business operations consultant researches analysis and data modeling to improve the operations of a company in an effort to increase efficiency. By taking data that has been collected from the company’s sales and overall performance models, a review is done by the business operations consultant to create a new plan for the employees’ everyday practices. This is done to resolve any operational issues within the company and put the business back on the road to success.
In real estate, a business operations consultant would meet with a real estate agent or broker and review their day to day operations: networking, pitching, sales history, organizational practices, etc. to find what is missing, where performance is lacking, and what needs to be done to boost efficiency in day-to-day practices.
Advisory is given to the executives and decision makers when a management consultant is brought into a company. The C-level executives, branch managers, team leaders, etc. would meet with a management consultant to access the company and identify issues within individual departments for a review on how each department affects the whole company. The advisory would include information on the company’s overall performance with solutions to all the issues that were brought to attention. The management consultant would then direct the higher level management on how to implement these recommendations and explain why in doing so the company’s efficiency and profit margins will increase.
In real estate, a management consultant would meet with the CEO or broker/owner of a real estate company. The consultant would review all sales and marketing histories and come back with a business model ready to be implemented to target stronger markets, boost marketing efforts, and increase overall sales and performance for each agent within the firm.
Real Estate Consultant
This is the job title of a professional who provides investment and financial advice to those looking to buy, sell or invest in real estate. No detail must be left behind when making a purchase as expensive as a piece of land or property, so real estate consultants ensure those making pricey decisions that problems in the process are avoided and that their money is spent wisely with no cost overlooked.
Find Your Consultant in Real Estate with Roos Advisors
Today, over 700,000 consulting firms provide services across virtually all aspects of business globally; so, why choose Roos Advisors?
Our certified professionals use experiential evaluation and learning to help your team work more effectively by developing the core fundamentals of trust, conflict resolution, commitment, accountability, and results-driven goal setting. Our assessment tools uncover opportunities for improvement in all aspects of business management and our DiSC® certified consultants assist organizations to discover preferences and tendencies within teams to build cohesive, productive teams.
At Roos Advisors, we help real estate business owners and individuals reclaim their sense of direction and quality of life by providing practical, actionable solutions. Developed by our team of certified coaches, our guided courses are specifically designed to reconnect you with your highest self, reignite your passion for real estate, and put you back in the driver’s seat, both personally and professionally. Each of our programs implement a whole-person approach, integrating personal reflection and development with practical exercises designed to instill new habits based on fresh perspectives.
We’ve got a long track record of providing services to the real industry, working with clients like Build Luxury Red and the NYC Network Group, and we know the ins and outs of the industry. Let us put our skills and expertise to good use and take your real estate business to new heights.
Schedule a free 15 minute phone consultation to see if we are the solution you have been looking for.