How to Find the Right Small Business Consultant

As a small business owner, I have learned that there are some situations that require outside help. While other business owners, mentors, and business support groups are just a few of the free resources available to small business owners, at times, it is worth paying for help. Here are some tips to help you decide whether to hire a small business consultant and what to look for if you do.

Deciding Whether You Need a Small Business Consultant

In general, consider hiring a consultant if your business is facing a strategic change that is significant and/or new, such as entering new domestic or international markets, embarking on a major expansion, or introducing a major new product or service. If you are thinking about selling your company, a consultant can help you determine its value and find potential buyers. Also, a consultant can assist you in working through business challenges such as the loss of an important customer, financing or cash flow issues, competitive threats and human resource problems.

Finding the Right Small Business Consultant

Deciding whether you need a consultant is, in many ways, easy. Finding the right one for you and your business can be more difficult. When choosing a small business consultant, look for the following.

First, seek out a consultant with expertise in the kind of problem your business faces. If your business issue is relatively narrow, a specialist, for example, in sales, marketing, technology, human resources and so on may be the best choice. If it is broader and requires more of a big-picture solution, a general business consultant might make more sense.

Second, look for proven experience with problems such as yours. Ask for references and check them thoroughly, and request examples of past successes that are relevant to your current business situation.

Getting the Most Out of a Consulting Relationship

In order to get the most out of hiring a consultant, it is important to frame your expectations clearly and concretely and to provide the right incentives, as follows.

First, the consulting arrangement should be solutions oriented. You are hiring a consultant to help you solve a problem, so be sure that his work ultimately is focused on finding and developing specific strategies to do just that.

Second, as much as possible, set specific and measurable goals that you expect your consultant to achieve. For example, you may be looking for strategy to reinvigorate sales of a lagging product, a marketing campaign to boost sales 5% in the coming year, or a plan to sell your company in the next six months. But don't just settle for plans and strategies, expect concrete evidence, such as actual sales increases, that your goals are being met.

Third, make your consulting agreement finite. Set a deadline to complete the consulting project and achieve the requested results.

Fourth, make at least a portion of your consultant's compensation contingent on meeting specific performance metrics spelled out in his contract.

Sources:
5 Steps for Small Business Looking to Hire a Consultant - DriveYourSucce$$

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