As business owners, we cannot do it all by ourselves. Small business specialists can help tackle problems in accounting, law, insurance, graphic design, marketing, management and other critical areas.
I’ve found there are three primary reasons for a business owner to hire an outside expert:
- For the short-term when over-extended, such as market expansion or preparing a business for sale
- For specific or sensitive issues, such as personnel problems
- For issues demanding special expertise, such as computer systems, taxes or engineering help.
Here’s how you can choose the right professional for you and your business:
Before your search begins
Determine what you really need, when you need it and how much you can afford to spend. This will help you decide the type of professional to look for and the criteria you’ll want to use in evaluating your options. Know the results or outcomes you would like to obtain. This will help clarify the level of expertise you’re looking for.
The Search
Ask for recommendations from colleagues in businesses of similar type, size and philosophy (instead of blindly searching the internet). If colleagues have been satisfied clients they will be happy and eager to refer the professional or consultant to you. You can also find quality help through business associations and industry-specific professional groups.
The Screening
Find an advisor who can really listen, evaluate the situation, make recommendations and then, if appropriate, help you implement solutions. When you first talk with the professional, notice if he or she can connect your problem to his or her previous experience. Pay attention to the questions the professional asks you.
The Meeting
Spend the first few minutes of your first face-to-face meeting setting an agenda, identifying possible outcomes and getting agreement on the length of the first session. This will help focus your time, set criteria for measurable results and keep you in charge. The professional should be able to define the basic issues and then estimate time, terms and fees.
The Agreement
It’s wise to get things in writing, including a work plan and timeline. Many professionals will provide a letter of agreement but don’t expect consultants, like a computer or management consultant, to provide a full analysis for free. A thorough analysis of your business situation and expert recommendations are worth paying for in advance of a solution being implemented. This important step, if done properly, can actually save the overall expenditure of certain projects and should be included in the total budget for the project.
Using professionals in your business is not a sign of weakness! It is an indication of sound management practices. As a business grows, staff can be added to replace outside experts or you can continue to use contract professionals.
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