I’ve been there – one minute you’re just going about the little business you started, getting those first few customers or clients, deciding on branding, feeling proud you’ve finally broken away from the 9 to 5 grind. Fast forward a couple of years, and there’s somehow a company around you, or at least the beginning of one.
You’re doing everything yourself: working out Xero, how or if you need to hire someone, you’re working every evening and weekend and you’re completely overwhelmed.
To top it off, you’ve lost the clear vision of where you’re even trying to get to – you’ve not had time to think beyond this week.
That’s where a business consultant comes in. Here are five ways a business consultant can transform your small business:
1. Efficiency
Most small businesses begin with a sole trader and grow from there, organically. This means that your business is built around the working practices you inherited; but are those the best and most efficient? Efficiency can refer to time, to money and to ease of operations, and a business consultant can look at everything you’re currently doing and advise you on whether you’re making the most of those elements.
Sometimes this can be simple stuff you’ve not got around to yet, such as automating all payments. Sometimes it’s a lot more in depth, looking at the roles of each of your team members, their strengths, their weaknesses, and how that can be optimised to turbocharge your business. Improving your efficiency will improve your time management, your bottom line and your work-life balance.
2. Accountability
All right, own up, how long have those “working on your business” items been on the to do list, or floating around in the back of your mind? That onboarding process you need to document, that cash flow doc you know you need in place before you go for investment but there’s just never time?!
A business consultant will help you prioritise the tasks that are going to give you the best bang for your buck, help you carve out time to get them done, and then check into make sure you’re willing and able to do them. Those things that have been on the list for six months? They’ll be done within no time at all. Your business will thank you.
3. Outside perspective
When you’re working in your business day in, day out, it’s easy for your mind and your agenda to get clogged up with small items, the immediate pressures you face and the next win you’re looking for. Sometimes this leads us to run down paths that don’t align with our goals – hands up if you’ve ever invested a load of time or cash in a project that felt redundant a year later?
Having somebody looking down at your business from a height, who’s more isolated from the day-to-day, allows a much broader perspective. When it comes to brainstorming, thinking of new revenue streams, and working out the best next step for your business, this external perspective is invaluable.
4. Experience
Have you ever started, scaled and exited a business before? If so, great! You already have amazing experience. But if you’re an accidental entrepreneur, my guess is that you haven’t. All good business consultants will have – beware of those who have just done a coaching course and don’t have any lived experience!
That hurdle you’re facing with funding, or a tricky employee? I’ve been there, done that, and made many mistakes along the way so that you don’t have to. As well as that lived and practical experience, having another entrepreneur as a sounding board is a really useful resource – make the most of it.
5. It’s low risk
All accidental entrepreneurs are hungry for growth, otherwise they wouldn’t have started their businesses. Setting up a new side-line, opening a new site, or over-leveraging yourself with new clients are all high-risk strategies to increase growth. Investing in a business consultant is low risk – all that’s at stake is the fees. But the rewards can be enormous.
The efficiencies, the advice, the experience and of course the network they bring to the table can transform your small business without drastically changing what you already do. And if you have a huge idea you want to get off the ground once all the foundations are in place? They’ll be by your side to support you.
Wondering where some strategic consultancy could take your business? Drop me a line and let’s chat. If I’m not the right fit for you, I’ll point you to somebody who is! I look forward to smashing through that ceiling with you soon.
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