by Jonathan Jones
As a business grows, business owners have to hire more and more people to achieve the mission and serve their customers. Based on their business model, leaders are wise to determine their core business and the right people to make the most profit to reinvest into growth of the company. The core employees and managers should be hired, trained and developed to maximize their performance and should be the focus of the owner and the organization.
When it comes to some professional roles, you may not be able to afford full-time employees. As a business leader, your time is valuable, just like the “billable” people in your organization. You may need to outsource key roles to a service that you pay for hours a month rather than salaries. Common roles to outsource include fractional CFO, legal counsel, IT services, training, marketing and public relations, and business coaching.
When choosing an outside resource, be sure to do the following:
1) Take time to look for the right service or professional. It is like hiring an employee. You need advisers you trust. Ask your peers for referrals.
2) Look for professionals who understand your industry. This saves you time in training them on your industry.
3) Make sure they want to know your company culture and what makes you unique. Your culture is your most distinguishable asset, and they must consider that when providing their generic service.
4) Make sure that they understand you and that you trust them completely. Trust is key to every relationship related to your company.
Real trusted advisers and support can help you focus on your business model and increase your profits. Choose them wisely.
Jonathan Jones (Jonathan.jones@vistagechair.com or 314-608-0783) is a CEO peer group chair/coach for Vistage International.
Submitted 7 years 203 days ago