Cornerstone Consulting Blog

How Do I Know When It’s Time to Bring in a Consulting Firm?

Feb 19, 2018 8:07:00 AM / by Bill Currence

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Is it time to bring in outside help? You may be thinking this as your business is going through a time of struggle. It can be difficult to know when you need an outside perspective. Here are five signs that it’s time to look to a consultant for help solving your business’ problems.

You need to increase profits but keep costs low.

The quickest way to increase profits is by leveraging the capabilities and experiences of someone who knows what they’re doing and won’t waste time. Hiring a full-time employee to address problems adds to cost in the form of a long-term salary, benefits, and other. Working with a consultant may cost more up front, but hiring the right one will pay off. In the end, it can be more profitable to invest in an expert who delivers proven results.

 

You need someone who knows best practices.

It’s important to get the right person for the job. Hiring a full-time employee only to find out they’re unable to do what you need sets you back financially and delays your timeline. It’s one thing to have knowledge and experience in your industry; it’s another to understand current best practices. It’s a consultant’s job to know exactly this. Bring in a short-term expert who knows what’s working right now to get you back on track as quickly as possible.

 

You need a strategic business plan.

Maybe you don’t even know where to start. Consulting firms come in and identify a sustainable business strategy for your company. In addition to forming an overall strategy, they also help you stay within your scope and on budget. The beauty of bringing in a consultant is that they have the time to devote to this to supplement C-suite leaders who are trying to juggle their jobs on top of developing a strategic business plan.

 

You need the big picture.

It’s important to get the full scope of your company’s challenges; this can be difficult to get if you’re right in the middle of them. Consultants can give you complete transparency into your business by compiling data. Obtaining the right data can be challenging if people within your business are skewing it as a result of personal biases. Consultants are objective, so they’re able to pull all of the data necessary to make the best-informed decisions. Getting absolute transparency into your company is invaluable.

 

You need a fresh perspective.

It’s common to be blind to problems in your business that may be right under your nose. If they’re ignored for too long, however, they get worse. If you’re hesitant to face them head on, you can benefit from outside help.

Consultants offer “tell it like it is” mentality that’s free of bias. They are trained to analyze data and develop comprehensive strategies according to your strengths and weaknesses.

 

If you think your business is ready to bring in a consultant, Cornerstone Consulting Organization is ready to work with you. We’re veteran-owned and employ specialists in many industries. Contact us today to learn if we would be a good fit for your company.

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Written by Bill Currence