We Could All Use A Little Advice

August 2, 2015 by Andy Crow

Many business owners are tackling everything that needs doing in their business single-handed. One side effect of these rapid changes and growth is that nobody can be an expert in everything. This is why some of the biggest challenges businesses face today are best addressed by using Business Advisers. Using their expertise and skills they can address particular problems at particular times, and can provide the best possible outcomes.

Some of the problems that can be addressed are as follows.

Financial management
Many business owners are “ideas people”. They are great at the big picture but not so competent with things like cash flow, profit margins, reducing costs, financing, etc. Small and medium businesses may not require a full-time Financial Director, but could use an adviser who can help guide them.

Monitoring performance
Using a meaningful set of performance indicators that provide the business with insights about how well it and its staff are performing is vital. Many small companies rely on overly simple finance indicators that don’t tell the whole picture.

Regulation and compliance
As markets and technologies shift, so do rules and regulations. Depending on your industry, it can make much more sense to bring in a consultant to help with these areas rather than trying to understand the complexities yourself, and risk fines for non-compliance.

HR
You might not need full-time human resources or recruiting staff, but during growth periods, finding the right people and developing the right skills is key to a sustainable future. Bringing in a consultant with the expertise to find exactly the workers you need would be a wise investment.

Technology
As technologies change it’s vital for companies to innovate or be left behind. Many business owners started their businesses before many of these technologies even existed! Even the smallest companies can market their products internationally via the internet. Consultants can be vital for integrating new technologies, in particular mobile, app development, and cloud computing.

Big data
90% of the world’s data was created in the past two years and managing, keeping safe and extracting insights from the ever-increasing amounts of data your company produces needs to be in the hands of a qualified professional who can help you get the most return from that information.

Customer service
Customers now expect instant customer service, and can take to the web to share their displeasure at less than satisfactory service just as quickly. Consultants can find ways to not only improve customer service but also monitor and maintain their online reputations

We are living in an era of constant change. Preparing for and embracing that change by investing in the right kind of advice is the best way to meet these challenges head on. Chorus Business Advisers offer free consultations to help clients. For more info information on any of these issues contact Chorus Business Advisers on 0845 8671263 or email info@chorusadvisers.co.uk.