As a business owner, you’re probably handling many of your daily business operation tasks yourself. Business owners tend to wear many hats in the workplace, even if they don’t realize just how many.
I understand that there are things in the business you feel you are better at doing than someone else — even if that’s not entirely true. Your feelings are valid. But, when you wear too many hats, things start slipping through the cracks.
One person simply can’t do everything. Just because you can run the company doesn’t mean you’re the best person for each job. A business will grow faster — with less stress — if you bring in people who can fill talent gaps in your business’s specific areas.
For example, if you’re spending 8-10 hours a week on payroll and taxes, hiring a bookkeeper can free up those hours and handle all the receivables, payables, payroll, and taxes.
As a consultant, I can show you how to simplify decision making and help you get more done with less stress.
You may or may not still use that trusty old Rolodex, but regardless of how you decide to store your contacts, here are a few people you should have on that list.
#1 Financial Advisor
A financial advisor is a business expert who provides financial guidance and services to clients based on their financial needs and situation. A financial advisor helps individuals and businesses plan and create financial risk-reduction strategies and build wealth over time.
Financial advisors can help you with all types of financial planning — budgeting, saving for retirement, investment planning, tax planning, portfolio management, and estate planning.
A financial advisor can help you plan your finances in coordination with your business. Many companies turn to financial advisors to develop employee retirement benefits in terms of employer matching savings programs, 401K, stocks, IRA’s, or other retirement packages.
They’ll keep an eye on your profit margins, and help you effectively price your products or services.
#2 Benefits Consultant
A benefits consultant is a business expert who can help you plan and implement your employee benefits package.
They’ll advise you on health insurance, employee benefits, retirement plans, and other products. They’re an expert in advising on selecting and purchasing the benefits — as well as how to administer benefits.
Benefit consultants often have a long-standing trust relationship with their business clients, allowing them to assist with paperwork, compliance, and annual renewals. Many companies rely on benefit consultants to establish and run their employee benefits programs.
#3 Legal Advisor
A legal advisor is a business expert who is a lawyer who will provide counsel to businesses. Legal advisors help business owners make the right decisions about their business matters, from handling employee-related issues to drawing up contracts.
Businesses retain legal advisors to prevent the company from facing legal implications or consequences. They have strong judgment, communication, and negotiation skills that can well-serve business owners.
Businesses need legal advisors to help them get things right from the start. They’ll help you set up your business, go over your contracts, and make better business decisions. They will steer you away from potentially disastrous mistakes and handle any legal actions that come up.
#4 Insurance Advisor
An insurance advisor is a business expert who provides specialized guidance and advice for investments in various business insurance. They'll make sure your business is covered, from day-to-day operations to disaster.
Having an insurance advisor helps you recognize and prioritize your risks, determine which risks are insurable, and develop strategies to reduce risk. Your insurance covers most risks associated with a business — some are either uninsurable or insured at a higher cost.
An insurance advisor can help you decide what risks are worth insuring. Should you need to file a claim, they'll help you with the paperwork and advocate on your behalf.
#5 IT Consultant
An information technology (IT) consultant is a business expert who analyzes a business’s IT systems and structure. They’re responsible for implementing technological solutions to help solve business problems, create a schedule to analyze, implement, and test technology, and work with business owners to ensure consistency of use.
They’ll make sure your technology is set up correctly and maintained to help you avoid any downtime. An IT consultant can train you and your staff on your technology systems. Should a problem arise within a technology-based business, they're the ones to call on.
IT consultants can help implement new systems to increase employee productivity and awareness. They’re an essential part of the business team as they’re also able to implement security and procedures necessary to keep your data and sensitive information safe and secure.
#6 Marketing Professional
A marketing professional is a business expert who can advise you on how to best build and grow your business brand, generate new leads, and create a referral relationship with your existing customers.
Marketing professionals can help your business by identifying the strategies and techniques used to attract customers. They'll help you determine pricing for your product or service based on product demand and supply — which maximizes business profits.
A marketing professional will show you how to reach out to your customers and effectively convey why your product or service can better satisfy their needs.
#7 HR Consultant
A human resource (HR) consultant is a business expert, usually called in to solve or meet an HR-related need. An HR consultant can provide solutions and give recommendations to management.
An experienced consultant will help you successfully navigate the HR landscape, steering your business away from pitfalls, and keep your staff happy. An HR consultant can take on significant business needs like implementing a new benefits package or creating a new employee handbook without the need of an in-house HR staff member.
Even as a small business, working with a few employees, or if you’re working exclusively with contractors, you’ll have human resource concerns that need managing.
#8 Business Consultant
A business consultant is a business expert who analyzes businesses and creates solutions to their problems. They discuss goals with the business owner and develop efficient plans for meeting their goals.
Business owners have a lot of decisions to make every single day. As a business owner, you may lack the experience or processes to ensure all of these daily operations decisions will benefit your company.
A business consultant can come in and help transform your company to help it run smoothly and effectively. They’ll help you create an efficient plan to move you forward towards your goals.
You don't necessarily have to hire an expert to get the initial benefit of their experience. Many would do an initial consultation for a small fee, or even free. From there, you can decide whether or not their service will benefit you.
Many of these business experts also publish valuable resources on their websites, blogs, social media channels, and podcasts, which can be quite useful. Take the time to look people up and reach out to some of these experts that you would like to work or connect with.As someone who offers business and HR consulting, let me help you get started. Connect with me on LinkedIn.
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