A Small Business Owner's Guide to Using External Consultants for Expert Advice
by Amber Ramsay
As an entrepreneur, you're no doubt passionate about your work. Owning and managing a business gives you fantastic flexibility, allowing you to configure every element of daily operations personally. While you might be tempted to do it all yourself, realistically this isn't always possible.
Outsourcing certain tasks to consultants will save you time and allow you to benefit from another professional's niche expertise. Experts like Craig Saphin Consulting can give you the tools you need to take your company to the next level. Discover the benefits of hiring consultants and how best to work with them below.
Understand how consultants can boost your business success
Handling every aspect of your business operations will ultimately leave you stressed and burned out. Entrepreneurial burnout is a real problem. It can leave you feeling overwhelmed and unhappy in your professional life. Symptoms of burnout range from lack of energy to reduced productivity.
This is where a consultant can step in. Consultants are experts in their field. As CB Insights reveals, they offer not only expertise but also provide you with valuable information and insight. Plus, they can guide you on how to implement that knowledge. This can create greater business efficiency and free up your time so you can focus on your core competencies.
Figure out what areas you could use external support for
Now that you're aware of the benefits of hiring consultants, it's time to consider where you might be able to benefit from an external professional's expertise. Possibilities include information technology, bookkeeping and tax filing, infrastructure management, advertising and marketing, human resources, and more.
For example, getting external guidance regarding branding can boost your business profile and reputation. As Branding Mag explains, branding can ultimately help you attract and retain more customers, increasing profits and long-term success. In addition to improving business value, branding can enhance employee pride and create trust among consumers. A financial consultant is another useful investment. For example, they can advise on what type of business structure will offer you favorable tax benefits.
As your business grows, you may end up hiring additional employees. Overseeing staff can be challenging if you've never done it before. In this case you can hire a consultant to help or utilize software like QuickBooks Time to track how employees are spending their time so you can improve productivity. This software allows you to track, submit, and approve employee timesheets and view employee locations right from your smartphone.
Set up processes to successfully collaborate with external experts
Once you've decided which consultants you want to work with, take steps to optimize their impact. Mind Tools provides a guide explaining how to effectively work with consultants. For example, you should clarify the role you expect them to fill and express your needs to define the direction you want to take your business in.
You also have to train your internal team to make the most of consultants. CIO Magazine explains that you want to integrate consultants into the team and ensure that workers trust them and are amenable to their feedback. Of course, feedback should go both ways. Baseline Mag provides tips for measuring a consultant's value and providing feedback. Value measures might include cost savings and revenue growth, for example.
Small business owners can benefit from consultants in various ways. Defining your needs is the first step to leveraging the expertise of an external professional. The above guide can help you through the process.
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