Why, How, When Should You Use Consultants?

Written by Super User. Posted in Growing Pains

Why, How, When Should You Use Consultants?

Can we hire and retain all the talent we need? Should we use external consultants? When is the right time to bring in an external consultant? These questions are discussed at Board and Management meetings everyday.

As companies grow, they begin to contend with growing pains. New challenges emerge that were not there before. As a leader who is alive to these changes, you may begin to see skill gaps in your team. You may begin to ponder the best responses to these challenges. Below are some thoughts that might point you in the right direction.

5 Early Warning Signs That Your Business May Be Failing

Written by Super User. Posted in Growing Pains

5 Early Warning Signs That Your Business May Be Failing

We began this series by asking When Should a Business Owner Look for Outside Advice? and then Why Don't More Business Owners Ask for Help Before it is Too Late?

The possibility of failure is not a thought most entrepreneurs want to entertain, but statistics indicate that less than 45% of companies make it past their 4th birthday. Business failures can be caused by outside forces such as the increase in global competition, but experts say most stem from internal weaknesses often neglected by owners and managers.

Why Don't More Business Owners Ask for Help Before it is Too Late?

Written by Super User. Posted in Growing Pains

Why Don't More Business Owners Ask for Help Before it is Too Late?

My experience over the past many years, both as a buyer of consulting services and later as a consultant, has taught me that many business owners wait too long to seek an impartial look at an issue.

In many of the loan workout cases I have handled, by the time the banker got nervous enough to call me, it was too late to make any substantial change. The company no longer had the money or time to do what needed to be done.

Interestingly also, in many of these cases the CEO or owner still didn't believe they needed help! They would voice frustration that the lender was sending me in to take a look.

When Should a Business Owner Look for Outside Advice?

Written by Super User. Posted in Growing Pains

When Should a Business Owner Look for Outside Advice?

The answer to that question seems obvious: when you have an issue you can't solve internally, right? Well, maybe, maybe not!

My experience over the past many years has taught me that many business owners wait too long to seek an impartial look at an issue. There are several reasons I've encountered for this that we'll address later in this post.

What I've learned both as a business coach and a small business CEO is the best time to seek advice from a competent source is before you think you need it.

Yes, You Are Qualified to Forecast Your Business

Written by Super User. Posted in Growing Pains

Yes, You Are Qualified to Forecast Your Business

There’s a scene in one of the Monty Python movies in which the woman on the operating table is about to give birth. Frightened, she asks the doctor—a memorable John Cleese character—”Doctor, doctor, what do I do?”

The doctor, looking down at her with a sneer, answers, “You? Nothing. You’re not qualified!” It’s a very funny scene. I’m a man. I’ve been present for several births. I know who does everything. Not the doctor.

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