Your small business is alive and well, providing enough for you and your family. What’s next? The most natural question that will come to your head is how to grow your business to the next level.
However, we should remember that scaling or expansion is not an easy task. In fact, overexpansion is known to be one of the most common (and dangerous) reasons of small business failures. As tempting as the opportunity to scale and expand a business is, when not managed carefully, it is doomed to fail. Why is overexpansion so dangerous? Here are a few notable points why
- While starting a business is fun and passionate, scaling a business is more often a robust and mechanical process. It can be slow and tedious, and are generally not as rewarding.
- It is a well-known fact that passion is vital in managing your energy in building a thriving and resilient business. By doing the scaling process yourself,something you might not love, you take away a huge chunk of energy of the business.
- Admit it, you might have too much on your plate. As a leader, you are always expected to make all the decisions both strategic and tactical, you have to continuously update your knowledge base to stay up to date with the trends, the news, and the current best practices. Can you really add the expansion process to your plate?
With that in mind, you might already scream for help deep inside, and hiring a small business consultant might be the help you need. But will getting an outside help be beneficial to your business both short-term and long-term? Sometimes it’s not a question of what if, but rather a question of when.
When Will Hiring a Small Business Consultant Be Profitable?
Although there will be many factors that will determine the outcome, there are generally two occasions where hiring a small business consultant might generate a more positive ROI dan doing everything yourself, there are
1: – You Need Help Outside Your Expertise
- You’re a sales guy and your sales pitches have been the key to success in your business. However, on an occasion such as an expansion, you will need someone with better managerial expertise. Hiring a manager or teach yourself the necessary skills might be an option, however, getting a ready-to-help outside consultant will clearly save more time and money.
2: – You’re Better Off Investing Your Time in Other Areas
With the same assumption, you’re better off spending your time generating more sales and let the consultants manage other processes in parallel.
To calculate whether hiring a consultant will be profitable, you can do a simple calculation:
- Put a dollar amount of your time. For example, if you are making $100,000 worth of sales every month with roughly 120 work hours a month, you are worth $833,33 per hour.
- Determine the amount of time you’ll set aside from that 120 hours to do the other job. Back to the assumption, let’s say you’ll put 50 hours a month to manage the expansion process. That should translate to a loss of $41,667 of sales.
- With that calculation, hiring a consultant less than $41,667 a month will still be a profitable decision.
How then, will a consultant help grow your business? A small business marketing consultant might help you in a lot of areas of your business. However, it may come down to just 3 reasons:
Small Business Consultants Drive Profit Growth
Before Getting Help: Always fearing your business is doomed to fail. Human beings, after all, always have the tendency to fear the unknown.
After Hiring a Consultant: Confident of your clear goals, mission, and vision, and how to generate profits required to achieve those goals to impact millions of people.
Profit generation is, after all, the end goal of all for-profit businesses and failure to generate profits is one of the things most feared by most business owners. Here are some of the reasons why:
Ineffective Sales Plan and/or Ineffective Sales Execution
Failure to generate a clear sales plan can create an overwhelming fear. Even more, even a well-done sales plan can fail with bad execution.
However, a sound sales process with a great execution will bring a lot of benefits to your business.
Your Marketing Strategy Didn’t Capture The Modern Customer Journey
With the rise of the social media that changed the way we consider, purchase and advocate products or services we use, we need to re-think the customer journey process from traditional marketing to the modern growth-hack point of view.
Failure To Understand, Much Less Utilize The Important Metrics
We all know the importance of data, metrics, and how it can benefit your decision-making process. However, data shows that only 22% of companies understood the important metrics and how to utilize it to make better decisions.
Even worse, you might not have the right structure and infrastructure to collect and process the necessary data. In this condition, hiring an outside help to analyze the data to help you course correct might be an ideal solution.
Weak Marketing Strength
Not every company have a great marketing team at its core, and it may generate future problems such as:
Content and Educational Marketing is King, Is Your Team Ready?
Preparing contents relevant to your business is hard, and your business might not have the required expertise to do it yourself.
The modern marketing process is a very complicated one. Rather than investing in a new marketing team that might took a long time and a lot of money, outsourcing the problem might be a better solution.
Here are some of the notable strength and expertise required for profit growth in this modern business world.
If you posses the required skills, good for you! If not, maybe getting an outside help from a small business marketing consultant will be a great decision before it’s too late.
Is it the right time to get an outside help? As much as you want control over your business, you should remember that your best interest should be the future and growth of your company.
There is no shame in asking for help, in fact, it will only help you get more time to focus on the things you can contribute best to your company. If you are willing to tackle things your own way, don’t worry! We will also try to help you along the way. Download our latest marketing guide (https://liftyourbusiness.com/marketing-guide/)for more information such as: -Top performing sales and marketing strategies not only to get leads, but also to get more loyalty and advocacy -Avoid most common marketing mistakes and revenue blackholes -Easy way to form your complete, and working, marketing strategy All of that for free, and just one click away!
Let’s look at some of the benefits of doing it yourself, hiring a team, and outsourcing.
Many businesses, however, are fearful of hiring another so-called ‘marketers’ and ‘consultants’ because of bad experiences in the past. Not to worry, we at LiftYourBusiness.Com promise to help your marketing system on your own, and will certainly be available for help when you need it.
Get More Done With Less
Your business is thriving when you are around the clock, but simply stalled when you are on vacation, and even when you take a few days rest.
The key to scale your business from good to great is to establish that automation and passive income system where the business can be partially or totally autonomous from you.
A small business consultant might help you achieve that goal to have a business that can make money while you sleep faster, and better.
Make More Impact To Those That Matters
Remember that dream when you first start this business that you can finally make this world a better place? As cliche as it is, it is still the dream of many entrepreneurs.
Are you frustrated then, that although your business is currently successful, it hadn’t touched as many lives as you intended it to be?
Rather than being an empty dream, impact and how businesses changing people’s lives has been studied and proven to be one of the most important qualities of sustainable and resilient business. The harsh truth is, without enough impact, you might lose business sooner or later.
Outside small business consultant might help you with a strategic plan to impact more people, all while maintaining a scalable and sustainable revenue and wellness of your company.
Bottom Line
Is it the right time to get an outside help? As much as you want control over your business, you should remember that your best interest should be the future and growth of your company.
There is no shame in asking for help, in fact, it will only help you get more time to focus on the things you can contribute best to your company.
In Summary Here Are The 3 Reasons to Hire A Small Business Consultant
1- Grow Your Profit
2 – Get More Done With Less
a. Grow Your Team (either mentally or quantitatively)
b. Grow Yourself
c. Improve Automation & Systemization
3 – Improve Your Impact
Is it the right time to get an outside help? Asking for help gives you more time to focus on the things you can contribute best to your company and are meaningful to you, put you in flow and give you pleasure. If you’re interested in exploring how Lift Your Business can help you, email us using the contact form here and we’ll get back to you within 24 hours.
Or if you want to tackle things your own way first, don’t worry! We’ve got you covered there too. Download our latest marketing guide The Ultimate Marketing Guide for Small Business Owners with Big Visions for more information such as:
-Top performing sales and marketing strategies not only to get leads, but also to get more loyalty and advocacy
-Avoid the most common marketing mistakes and revenue-draining blackholes
– How-to form your marketing strategy
Click on the link above to get it now 🙂
