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While
small businesses have to be ever vigilant in how they spend their money, a
consultant can be an effective resource for pushing the business into the
next stage of growth. A consultant can also offer a valuable outside
perspective for companies who are struggling.
Think
of it this way. Often a financial advisor or consultant plays the role of a
CFO. Many small businesses can’t afford a full-time position dedicated to
assessing the financial impact of important business decisions. Outsourcing
this task to a respected, qualified and known consultant can give you
valuable insight into critical financial ad business decisions—everything
from how buying a large piece of equipment will affect the business
financially to how effective specific growth strategies may be for your
specific business.
But
you want to be very careful not to be swept away by fast-pitching business
consultants who use high-pressure tactics. If someone comes on super strong
and makes you feel uncomfortable, listen to your instincts. Remember this is
someone you will need to trust and work with closely. After all, you are
entrusting him/her with your business and your livelihood. You need to feel
confident with the advice and suggestions the person offers. You need to
trust this person has your best interests in mind and not his/her wallet.
Business
consultants offer all kinds of services, so be sure to investigate. Be clear
about what your looking for (i.e. professional development training for you
or your team, financial advice, organizational development, business
development or marketing skills) and enquire about the person’s
experience. Do not hesitate to ask for references. Don’t just rely on
their marketing materials.
Talk
to current clients to get a sense of how the person works.
Ask a prospective consultant for a list of referrals. Remember to
enquire about ongoing support. It’s not enough to have a plan in most
cases. You will want to make sure there will be support or help available if
you run into trouble during implementation. Negotiate fees for this support before
signing a contract. Clearly outline what kind of support (phone,
face-to-face, repeat training etc.) and the charges in the contract.
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