Many small business owners nationally are finding it increasingly difficult to plan for the future of their business, especially when they’re the ones dealing with day-to-day tasks. A common complaint of most small business owners is that they rarely have time to sit down and work on their business, rather than in their business.
A natural step to helping to solve this issue is hiring a consultant. Where historically business consultants were once only available to big businesses with thousands of dollars to spare, that’s now changed with many new firms specializing in small business consulting.
Maryland has a vast network of small local businesses, many of which are members of the Maryland Chamber of Commerce. This is a great place to make local connections and discuss issues impacting the local business environment.
However, if you are looking to hire someone to offer professional advice, a business consultant could be the right choice. They will give you an outsider’s perspective on your business and will help to identify areas where your business could be developed.
Choosing a Small Business Consultant
Before choosing a small business consulting firm, there are some crucial factors to consider. In some cases, it can be a costly investment, but doing the right research will ensure its worth the money.
- Area of Specialism – Like with any agency or consultant, each specializes in a particular area, business size, or industry. There’s no point hiring a consultant that works with corporate pharmaceuticals if you’re running a local clothing store.
- Budget – As a small business, this is likely to be one of the most important considerations. If you’ve done your research and found a consultant that specializes in small business, it should be affordable. After all, their business is your business, and it’s in their interests to be affordable. Don’t be afraid to negotiate either if you’re working to a very tight budget.
- Experience – It’s important to look at this in two ways, both experience as a consultant and relevant work experience. You may come across a consultant who’s worked in your industry for years and has just started their own consultancy. On the other hand, you may find someone that’s only ever been a consultant and never worked for another business. When looking at options, consider what you think is the best option for your business.
- Business Goals – Are you looking to build awareness in the local area, take your business national, or reduce your operating costs? Identifying your business goals will save time, and ultimately, money. Ideally, you don’t to be paying a consultant to be helping you figure out what you want to achieve; you want them to be helping you achieve it.
- Compatibility – It’s likely that you will be working with whoever you hire closely, so it’s crucial that you feel they understand your goals and your business. You should set up face to face or web meetings before committing to any one consultant. Just like with an employee, if you don’t get along or aren’t aligned, then it’s unlikely anything positive will be achieved.
Getting the Most out of a Small Business Consultant
A good small business consultant will help and advise on the different ways you can secure the future of your business. Thanks to the internet, you may be able to find a consultant online that specializes in your industry if there aren’t any in the local area.
To get the best consultant for your budget, make sure you contact 3-5 different firms before committing. That way, you can get a feel for what they offer and what a fair price is.
Finally, you should consider getting references or contacting previous customers to see what the consultant did for them. Any good consultant will offer these up without any resistance and may even encourage you to contact previous clients.