We are living in increasingly competitive times. The role of the internet and its fundamental act in connecting us worldwide has made it more complicated than ever for businesses to stand out from the crowd. As a result, more and more corporations are turning to professional Executive Consultants to help them navigate through saturated markets and overcrowded industries.
Kevin Modany is the Managing Director at Bluerock Partners and an esteemed executive consultant. A professional specializing in mergers and acquisitions, Modany is especially suited to help his clients overcome the hurdles they must tackle.
Throughout his career, Kevin Modany has synthesized some of his best practices into a template he uses for his work. Let’s explore these best practices to see how they can better serve executive consultants looking to follow in his steps.
The Importance of Communication
Working with executive leadership requires firm and clear communication, and honesty is paramount. Modany advocates for clear communication and honesty amongst all parties, even if it may make the process take longer.
Modany says, “If you ask me a question, you’ve got to be careful because I will give you an answer. I don’t believe in anything other than being honest and forthright. Sometimes it’s painful, but you’ve got to be truthful.”
The entire business can prosper when executives rely on consultants to communicate ideas.
Perform a Thorough Analysis of Competition
The competitive landscape that businesses must navigate can be overwhelming without the support of an executive consultant. Executive consultants work with professionals to detail comprehensive competitive analyses at the regional, local, and national markets. Along the way, organizational consultants can take note of the goods, services, and technologies competitors offer.
When a competitive analysis is thoroughly performed, it can guide clients toward making better decisions while more effectively positioning themselves to compete. Equipped with this kind of information, companies can navigate to better financial outcomes.
Embrace the Role of Data in Making Decisions
Finally, Kevin Modany advocates for using data as often as possible when making a decision. While Modany firmly believes in gentler soft skills, he knows how vital big data can be to the overall process.
Modany utilizes data to help guide his decisions. Eventually, this data makes its way to the client, wherein they discuss and formulate the different strategies that may solve the company’s issues. That said, Modany wants to stay aware of the data conversation.
Kevin Modany says, “There’s a plethora of data. People are collecting more and more of it. I think it requires that we prioritize and ensure that we are focused on the right data set and that we don’t get overwhelmed by it.”
Modany added of his affinity for data, “There are still qualitative considerations, but you always have to have that as part of the equation.”