Newsflash: Your new business is probably going to fail in the next 10 years.
That’s according to the stats, anyway! On average, only a third of start-ups survive longer than a decade of operations. Scary stuff, right?
It just goes to show how hard it is to run a successful business that prospers over time. Markets change, technology modernizes, uncontrollable environmental factors emerge (we’re looking at you coronavirus), and the competition’s fierce throughout it all.
Honestly, it’s amazing that so many organizations last as long as they do.
That’s one reason that so many companies hire a business consultant to help. Their expert input can make an almighty difference when it comes to avoiding trouble and driving growth.
But how do you know when the time is right to work with one? That’s the question we want to address today. Keep reading to learn exactly when hiring a business consultant makes the most sense.
When You Lack the Necessary Tools or Resources
It’s hard to overstate how much goes into running a successful business.
Take marketing. This is one core component of any operation. However, it breaks down into a whole range of unique and distinctive elements.
For instance, there are:
- Facebook ads to run
- Google Ads to set up
- Social media accounts to monitor
- Blog articles to put together
- Back-links to generate
- Videos to produce
- Landing pages to create
- Outreach emails to write and send
Each process can drive success but requires particular insight and resources to complete. Sometimes, employees don’t have what they need (be it knowledge, time, or inclination) to do a certain task.
Know the struggle?
Well, this would be a perfect time to hire a business consultant. Whenever you lack the means to perform a key task, you can bring them in to plug the gap.
When You Need Specific Expertise
A lack of knowledge is less of an issue when you’re experimenting with Facebook ads, for example.
Here, you can simply throw some money at a campaign and see what happens. The worst-case scenario? You lose a few hundred dollars!
It’s when you’re forced to make complex decisions and handle intricate processes that ignorance can be a significant problem. When revenue, jobs, and profit margins are on the line, you have to make appropriate calls in full awareness of the possible outcomes.
Once again, hiring a business consulting firm can help. Their expertise makes up for your lack of knowledge and improves the possibility of seeing positive results.
Whenever Something’s Going Wrong
Most business problems have an obvious cause. The result? You can spot the issue and find an adequate solution with relative ease.
Occasionally, though, you encounter an issue that leaves everybody nonplussed. It could be operational, technological, financial, marketing, or HR-related. In any case, the managerial team can’t figure out what’s gone wrong in order to solve it.
These kinds of situations are another good reason to call a consultant.
With a fresh set of eyes, they’ll be able to audit your business, assess the situation, and, with a bit of luck, identify what’s causing the trouble. From there, they can provide expert advice to facilitate the fix.
When You’re Ready to Scale
Has your business steadily been gaining traction? Have you acquired a solid base of loyal customers that drive high levels of revenue each month? Are you growing at such a rate that you lack the means to grow with it?
Well, then you may need a business consultant to help you scale up.
Working with someone who’s familiar with large-scale corporations could have the impact you need. They can provide key guidance as you upgrade your infrastructure, offer advice on best practices to adopt, and set the framework that’ll accommodate your growth.
When You Want to Scale
Your business might not be at a point where it’s ready to scale. In fact, it might be growing slower than you’d expected. You might be struggling to attract an audience and make sales as you’d planned.
Nothing you’ve been trying seems to make a difference and you’re running low on fresh ideas. Even worse, morale in the office is going down at the same time.
Our advice? Hire a consultant!
Remember, they’re in the business of improving businesses. Just as they can guide a company as it scales, the consultant can offer advice to stimulate its growth in the first place. Working with an expert could be the ticket you need for the business growth you desire.
When You Need to Improve Your Hiring Process
Hiring high-quality employees is all-important to a business’s fortunes.
A bad apple spoils the bunch, right? One staff member with an awful attitude can hinder the entire team’s level of productivity, success, and enthusiasm. The culture and atmosphere in the workplace can be compromised too.
If you’ve just suffered a string of bad hires, then it’s worth looking at your hiring process. There could be fundamental flaws that are scuppering your ability to hire the right people.
Alas, it’s a slippery slope. Bad hires and terminated contracts can damage your reputation as an employer. Top talent will start looking elsewhere for jobs, leaving you with lower-quality candidates.
Hiring a human resources business consultant would help. They’d assess the situation, offer advice, and use their expertise to improve recruiting and retention.
Now You Know When to Hire a Business Consultant
Starting a business is easy. Starting a business that succeeds in perpetuity is not.
The statistics speak for themselves: Only a fraction of the start-ups that emerge each year go onto achieve their goals. The majority get stuck, fail to adapt, and are forced to close as a result.
That’s where hiring a business consultant can be so beneficial. They can offer input, advice, and practical support that facilitates growth and protects against trouble.
Hopefully, this post will help you determine when to hire a business consultant in order to reap those rewards!
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