50 percent of new businesses will collapse within five years.
As an entrepreneur, this stat is enough to send a chill down your spine. A 50/50 chance of survival isn’t what you want to hear when you’re looking to open a new business.
The good news is you can beat the odds and run a successful business that will outlast you. The secret lies in having a good strategy and making use of all the professional help you can get. This is why it’s advisable to hire business consultants.
But did you know there are different types of consultants?
Continue reading to learn about the various consultants every business should consider hiring.
1. Small Business Consultant
If you’re yet to start your business, you’ll certainly benefit from the input of a small business consultant.
These consultants are usually experienced entrepreneurs who have run multiple successful small businesses. They tap into their vast knowledge and expertise to help upcoming small business owners design a good business model, write solid business plans, and choose effective marketing techniques.
If you’ve already set up shop, you can still bring in a small business consultant, especially if you need advice on matters such as expansion and financial management.
2. Human Resources Consultant
As your small business grows, you’ll need to build a team of employees. Since the competence of a business is as good as the competence of its workers, it’s important to ensure you’re hiring the best talent.
However, you’re an entrepreneur, not a recruitment expert. Without the right human resources knowledge, you can easily make the wrong hire.
This is where a human resources consultant comes in handy. This professional will craft a recruitment strategy for your business, design human resources policies, and help you find the right workers.
3. Management Consultant
Unless you’re a qualified business manager, running an organization can prove to be a tall task. Instead of taking on the task on your own, you can hire a management consultant.
These professionals specialize in troubleshooting management issues for organizations of various sizes. Their goal is to ensure an organization has a sound and efficient management and operation structure.
In most cases, management consultants are also known as strategy and operations consultants. So, when you hire a management consultant, ensure they’re also experienced in strategic and operational consulting.
4. IT Consultant
43 percent of cyberattacks target small businesses. What’s more, a single attack can cost a business upwards of $200,000.
Clearly, the stakes are high for any business that has digital operations.
To protect your business online and ensure it’s operating at the forefront of technology, hire IT consultants. These professionals will ensure your business is using the latest computer systems, give your staff IT training, and take measures to protect your data and other assets.
You Need Different Types of Consultants
As an entrepreneur, you need diverse expertise to give your business a strong chance of succeeding. But one person can’t be a master of everything. This is why you need to hire the different types of consultants described above.
Keep reading our blog for more startup insights.