Tuesday, May 6, 2014

Turning your business around Part IV: Do you need outside help?

If your business has not achieved the level of success you were hoping for, you may turn to outside help for the answers.  A consultant, coach or advisor may bring the expertise you need to improve your operations, your procedures or your bottom line.  Before you sign any contracts, a few things to consider.

First, you will want to make sure you have found the right person or business to help you.  Get references to make sure there is a track record of success in assisting business turnarounds.  You will also want to verify that they have worked with similar types of businesses or similar problems/issues.

Second, make sure you understand what the full cost of the service will be.  A contract is a must so that everything is spelled out in terms of cost and timing.

Finally, you must be committed to making changes.  The consultant can give you all the answers you need to turn things around, but if you aren't willing to implement the changes, you are wasting your money.  It is hard for most entrepreneurs to let go of the reins, but they need to from time to time!

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