If you run a small or midsize business, you’re likely a skilled multitasker — and proud of it, too. However, if enlisting help from a small business management consultant is not part of your overall strategy to drive growth and increase profitability, you could be missing out on important opportunities to take your company to the next level.
In this post, we’ll look at four reasons leveraging the knowledge and insights of consultants — particularly those with finance and accounting expertise — can be a game changer for your small business operations. But first, here is a quick explanation of what these highly skilled professionals can do, and why many businesses engage them.
A small business management consultant helps leaders of small and midsize companies understand how and where they can improve operations to solve challenges and achieve growth.
Depending on their area of specialization, these consultants can offer insights on finance, technology, risk, compliance and audit, and more, helping organizations to streamline processes, implement new technology, manage change and drive innovation. They focus on helping businesses transform strategically, enhance efficiency and profitability, and position for long-term success.
Many leading businesses today, large and small, rely on alternative labor models that include consulting solutions to achieve their finance priorities. Anda another key benefit of working with a reputable consulting solutions provider is having the option to engage skilled management consultants for critical roles, such as chief financial officer, as your business expands or positions for an initial public offering or other major transaction.
This added expertise can help you refine your approach and confirm your growth strategy is scalable and resilient, giving you the best chance to achieve your vision for the future.
Here is a closer look at four ways working with a small business consultant can provide value to your organization.
Reasons Small and Midsize Businesses Should Consider Working With Small Business Management Consultants
As explained above, improving efficiency is a top aim for consultants. And one of the most significant and persistent challenges for small and midsize business owners is managing resources effectively while keeping costs under control.
You may be inclined to handle as much as possible in-house, including tasks that may fall outside your team’s expertise, like financial planning and analysis (FP&A), cost and performance management, sourcing and procurement, or even IT. However, this is a risky approach that can burden your core staff and easily lead to costly mistakes.
A small business consultant can help you identify solutions to improve efficiency and keep your team focused on value-adding work. For example, you can lean on an experienced consultant to evaluate your financial practices and suggest improvements to optimize costs and streamline workflows.
As part of that process, a consultant may find your business can benefit from implementing finance automation tools or a modern enterprise resource planning (ERP) system that can centralize and automate back-office processes from financial reporting to inventory tracking.
The business landscape is increasingly digital, and companies that prioritize digital transformation can sharpen their competitive edge by enabling data-driven decision-making, improving productivity, and increasing customer service and satisfaction.
One particular benefit small and midsize businesses can realize by strategically adopting technology like generative AI and advanced analytics is the ability to operate with the same efficiency and reach as large enterprises — and often, with greater agility.
A skilled consultant with experience in guiding transformation projects for small and midsize companies can help you assess your current processes and introduce new solutions that align with your business goals. For instance, if finance transformation is your objective, small business management consultants can provide support in critical areas such as operations management, supply chain logistics, ERP implementation and risk management.
Small and midsize businesses often face sudden shifts in demand, which can stretch resources thin and put additional pressure on employees. Without adequate support, a surge in demand can lead to delayed deliveries, dips in quality, unsatisfied customers and a higher risk of burnout for your staff.
Consultants can provide the guidance and resources needed to help your company navigate these fluctuations smoothly. They can evaluate your staffing model and identify workflow bottlenecks and skills gaps, helping you adapt swiftly to changes in demand. They can also assist in scaling up your ERP or other digital systems to handle increased workload without putting undue strain on your employees.
By working with skilled consultants to optimize your core team’s workload and plan for scalability, you can protect your brand and business reputation while fostering a work environment that promotes greater productivity and job satisfaction. And in a market where customer expectations are higher than ever, the ability to scale your operations with speed and ease can set you apart from your competitors.
Learn more about the value of adopting a scalable staffing model at your small business to establish a robust pipeline of skilled resources, including consultants.
Building a successful business isn’t just about short-term wins — it’s about laying the foundation for sustainable growth. But it can be challenging for small and midsize business leaders to look beyond immediate needs and urgent problem-solving to focus on building a long-term strategy.
However, when you have a small business management consultant in your corner, it can be easier to identify new markets and growth opportunities, stay on top of emerging trends and mitigate risks.
Consultants can provide your business with support for key financial planning initiatives, such as cash flow forecasting and investment analysis. And by introducing finance transformation solutions like AI-powered advanced analytics and data integration, they can make it possible for you and your team to gain deeper insights into the current financial health of your company and project future trends.
Partnering with a small business management consultant, or a team of consultants, offers benefits that go well beyond a quick fix for current issues. With expertise in digital transformation, finance transformation, ERP implementation and more, top consultants can offer your business access to fresh perspectives, specialized skills and objective insights.
Critically, these professionals allow you to focus on what you do best — leading and growing your business — while staying adaptable in a competitive landscape.
Contact Robert Half today to learn how our world-class consulting solutions for finance and accounting, risk, audit and compliance, technology, and other critical functions can help support your small or midsize business as it seeks to address immediate challenges while positioning for long-term success.
