Process consulting is one of the most invaluable but underused services in the field of business as more and more organizations feel that they don’t need a third party to solve their internal problems. This type of consulting is designed to enhanced group effectiveness, address conflict, and shorten meeting times. It aims to help teams to work together effectively so they can easily reach their pre-set goals.
Process consulting, when done correctly, can offer the following benefits to clients; better decisions, more productive but shorter meetings, increased participation or potency, and most importantly, greater satisfaction.
A process consultant does not intervene in a group in accomplishing its goals — that is not part of his job. He is usually called in to help groups in solving their problems with their members and concentrate on how the team works.
He will come into play when there is conflict within the group that they cannot solve by themselves. An effective process consultant deeply understands conflict resolution, leadership development, and group dynamics. A process consultant is most useful during the stages of group development or when the group is either on its normative or formative stage.
When a group finds itself in conflict over values, facts, goals, and methods, the process consultant will help the group to reach a consensus over a particular conflict. This is to avoid unnecessary confrontation that can affect all the people involved.
A consultant usually does not participate in a group meeting instead, he acts as an observer. He observes group dynamics to easily figure out the various interpersonal relationships that can lead to conflict later on.
He will be allowed to participate when the group is starting to take so much time and having a hard time reaching a decision. He will ask clarifying questions and eventually, offer his feedback and observations to the group.
If you want to sink your teeth into this endeavor, these are some requirements that you need to meet. For starter, you need to have a background in small group learning and a degree in psychology. Possessing analytic skills and experience in reading body language are also helpful. It will also work to your advantage if you have relevant trainings and relevant experiences.
Although this service industry is usually being ignored by business owners, you can still succeed in this endeavor if you know how to convince those few individuals who need such services to hire you.
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What is an incubator hedge fund?
Simply put an incubator hedge fund is an investment vehicle designed for you (or you and your partner) to trade your own assets to establish a track record for trading. Incubator hedge funds are a low cost solution to beginning the process of starting and growing a full fledged hedge fund.
What types of incubator hedge funds are available?
There are many different types of incubator hedge funds which you can start up. Basically an incubator hedge fund can be started for any specific strategy and it will be based on the investment program you will use in the future to trade outside money.
One very popular type of incubator fund is a forex incubator hedge fund. In the forex incubator hedge fund the manager will trade in the off-exchange foreign currency markets. Because of the high leverage involved in forex trading, managers of forex incubators often have volatile returns.
A forex manager should note that there is likely to be registration rules for managers in the future. The CFTC is working on proposing these rules and the NFA has already produced a test for the registration of managers – the Series 34 exam which is a 40 question, 1 hour exam for forex managers.
What are the biggest issues with the incubator hedge fund?
The single biggest issue with the incubator hedge fund is that you must trade only your own assets in the vehicle. The reason is that the interests in any type of fund are securities and if you “sell” interests in the fund to a party who does not have an active roll in the management of the fund, you will need to go through the whole hedge fund formation process and produce lengthy offering documents.
This process is, necessarily, more costly and time consuming than starting an incubator hedge fund and it is a deterrent for those managers who simply want to establish a track record of their trading for later on.
Additionally, if there are outside investors in any type of fund structure there are potential investment adviser issues at the state level.
What is the incubator process like?
The incubator is a relatively simple process. You will start off by talking with a hedge fund attorney who has specialized knowledge of hedge fund formation. After the discussion, the attorney will begin to form the incubator entities and then help you to establish your trading account. The attorney will also provide you with background on all of the important rules you will need to know about creating a marketable track record.
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