November 28, 2011 at 1:17 PM

While small businesses have to be ever vigilant in how they spend their money, a consultant can be an effective resource for pushing the business into the next stage of growth. A consultant can also offer a valuable outside perspective.

Often a financial advisor or consultant plays the role of a CFO. Many small businesses can’t afford a full-time position dedicated to assessing the financial impact of important business decisions.

Outsourcing this task to a respected, qualified and known consultant can give you valuable insight into critical financial business decisions.

But you want to be very careful not to be swept away by fast-pitching business consultants who use high-pressure tactics. If someone comes on super strong and makes you feel uncomfortable, listen to your instincts.

• You should feel confident with the advice and suggestions the person offers. 
• You need to trust this person has your best interests in mind and not his/her wallet.
• Business consultants offer all kinds of services, so be sure to investigate.
• Be clear about what you’re looking for (i.e. professional development training for you or your team, financial advice, organisational development, business development or marketing skills) and enquire about the person’s experience.
• Do not hesitate to ask for references. Don’t just rely on their marketing materials.
• Talk to current clients to get a sense of how the person works.
• Ask a prospective consultant for a list of referrals. Remember to enquire about ongoing support.
• It’s not enough to have a plan in most cases. You will want to make sure there will be support or help available if you run into trouble during implementation.
• Negotiate fees for this support before signing a contract.
• Clearly outline what kind of support (phone, face-to-face, repeat training etc.) and the charges in the contract.

At WG we can offer you a consultancy service that suits your business with our BoardTalk™ service.