7 Reasons small-mid business needs consulting!
It is a given fact, managing a small/mid business is hard. You’re almost always strapped for time, resources, and budget. You’re most certainly running around in a million different directions, and you definitely can’t afford to waste time or money. However, what you really can’t afford is to spend your money on the wrong investments.
While hiring a consultant may seem like a bad investment when you’re a small/mid business, believe you me, it’s actually in your best interest. Why, you ask? Well, let’s assume you recruit a new marketing manager to increase conversions. When the new marketing manager starts, he needs to spend time familiarizing with your business, analyzing past campaigns, and building a cohesive marketing plan, before creating new content. That takes time. Time that you simply don’t have. So to reach your goals on time, you might want to consider hiring a consultant.
Here’s 7 reasons why your small/mid business needs consulting if you want to reach your goals:
1. You need a business/marketing plan… that too like yesterday!
When you develop a business strategy it allows you to strategically plan what needs to get done and when, to keep your projects on scope and well within budget. Consultants help stay on scope and on budget, by freeing up other employees’ time so they can focus on doing their job, instead of planning what to do next. This lets you to quickly increase efficiency, while developing the right business or marketing plan when you need it.
2. You need increased profits, and lower costs.
The fastest way to increase profit is by hiring someone who actually knows what they’re doing. All too many times, companies hire employees who claim they can do the job, but instead, ends up spending more money trying to do the job. Consultants, on the other hand, have years of experience across industries and job functions, so they have the skill-sets to actually do the job, the right way. They can deep-dive into your analytics and tell you exactly where and how to boost sales, and where to cut corners to lower the costs & increase profits.
3. You need an expert for the job, someone with the RIGHT set of skills.
Some companies have very niche products or services, so they just can’t recruit/onboard anyone. They need someone who understands the industry, target audiences, and is equipped with unique skills required for the job. Other companies have specific goals that require someone with right level of experience. With Consultants you don’t get the right package as per your requirements, whether it’s for a niche product or for specific goals.
4. What best practices are prevailing in the market
Aside from knowledge and experience in a particular industry, employees also need to know the best practices that are being followed in the market. Since the consultants are regularly and constantly helping companies with their problems, they are the ones with the most up-to-date best practices information.
5. A fresh perspective.
Imagine yourself in a maze puzzle trying to get out of it. Every path you follow may or may not lead you out of the maze, and after a while, it gets irritating, exhausting, and takes a toll on your morale. However, now imagine if there is someone looking at the maze from the top and guiding you to your way out, bingo! Consultants similarly help you while working with you for your business.
6. Your business needs correct insights
Data was, data is and data will always be the power that drives your business in the right direction. He who has relevant data has the power to push forward. Any Tom, Dick, or Harry can draw insights from the data. However, the trick lies in identifying and picking data relevant to your business. Hiring a business consultant gives you that edge over your competitors, consultants know what data to look at and what to do with the data that is relevant to your business.
7. You need to cut costs, like expensive benefits.
The challenge with recruiting full-time employees is that you have to pay out benefits and other perks, which can be expensive. For small/mid companies who aren’t yet ready to invest in those benefits, consulting can be a big money-saver because it allows them to quickly cut costs by hiring consultants on a per project basis.
About Author:
Mrinal Gokhale
Entrepreneur & Digital Marketing Consultant