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When should your small business hire a consultant?

By
Industry Observer with Chirpy Home

At some point, you may need to hire a consultant for your small business. As much as you know almost every aspect of your business, you will find that there are areas which call for different kinds of expertise. This is where a consultant comes in. A consultant will provide highly specialized skills to fill temporary needs within an organization. Statistics show that 17% of businesses fail due to a poor business model, 14% due to poor marketing and 14% due to ignoring customer needs (Mansfield, 2019). These are some of the areas that a consultant can help your business with.

 

So, how do you know that it is time to hire a consultant?

 

When you need help outside your expertise

On occasion, you may need expert advice on areas such as finances, taxes, legal matters, strategy, among others that are not your area of expertise. This is when you can call in external expertise to help you. As a small business owner, you may know the basics in these areas but sometimes you need an expert. For your small business to grow to greater heights, you may need to invest in a consultant to solve your problems, give advice and make propositions in these areas.

 

When you need to focus your time in the core areas of your business 

Outsourcing comes in handy when you need to focus your attention on the core area of your business. For example, if you are a manufacturer, you may need to focus on this to ensure that quality is not compromised and that you are constantly developing your product. As a result, you seek out different consultants to handle other areas such as human resources, sales and marketing, information technology among other areas. Consultants can help you develop systems that would help your business operate efficiently without needing you to constantly keep an eye on the operations. This kind of delegation will help you focus on the core of your business and all the systems will help this core of the business to operate efficiently like a well-oiled machine. With the right kind of systems in place, the business will prosper and grow and these systems can also help you handle fast growth such that it doesn’t spin out of your control.

 

When you are spreading yourself too thin 

It is common for small business owners to want to oversee all areas of the business. Who can blame them? Most of the times, they have started the business from nothing and would do anything to ensure it doesn’t end up in the ashes. “All Tops Start Ups” interviewed some entrepreneurs and discovered that an average small business owner works an average of 52 hours a week, which is 63% longer than the average worker (Oppong, 2015). A Gallup study also showed that 39% of business owners worked 60 hours a week (Sutter, 2017). It’s therefore very possible that you may be spreading yourself too thin and as the saying goes 

 

“A jack of all trades is a master of none”. Further, this can also make you fatigued such that you are not giving your best self to your business. In such a situation, you may need to acquire a consultant to help you handle some business that doesn’t need too much of your attention.

 

That’s why Strategy Leaders is here for small business owners like you. Since 1995, they have been a small business consultant and work on your small business strategy to help get you on the road to better business. They are not only limited to this expertise but the firm also provides specialized consulting to other industries. They are then a proven and reliable construction consultants, energy consultants, and cannabis consultants

  

References

Mansfield, M. (2019). Startup statistics- The numbers you need to know. Retrieved from https://smallbiztrends.com/2019/03/startup-statistics-small-business.html

Oppong, T. (2015). 4 entrepreneurs reveal how long they work every week. Retrieved from https://alltopstartups.com/2015/10/05/how-entrepreneurs-work/

Sutter, B. (2017). How hard small business owners work. Retrieved from https://www.score.org/blog/how-hard-small-business-owners-work

Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, e-Pro, TAHS

I agree.  Every business needs outside advice and guidance from time to time.  It is especially important when the small business owner is stretched too thin.

Aug 07, 2019 07:48 PM