You’re a business owner and you’ve got a big problem. The kind of complex problem that could inhibit business growth, or worse yet, close your doors. You are already time starved and are fairly certain that you don’t have the specialized skill set needed to address the issue. If your “pain” is related to big picture issues that involve finance, sales or marketing, you’ve probably identified that you need C-level counsel. And you need it now.
An outside advisor may be your most efficient and cost-effective option, and here are four reasons why:
1. You Need a Specialized Skill Set
Complex problem solving requires the expertise of an executive who has done the work before. Given your current revenue, you’re not at the point where you should consider hiring a full-time C-Suite partner. Instead, it’s the right time for a C-Level advisor who can work efficiently, effectively and bring a view of the issues that no one on your full-time staff has the experience to diagnose and solve. Yes, that new salesperson you hired has closed a few new deals and you think that down the road he or she has the potential to be a world-class sales manager and sales coach. But a sales manager is not a VP of Sales. An advisor with VP of Sales/Chief Revenue Officer experience has built many high performing sales organizations and is a low risk, cost effective, high reward solution to your problems.
By choosing an outsourced CFO, CMO or CRO, you’re investing your resources in order to obtain a specific outcome or series of results. You have the opportunity to “rent” the talents of someone who already has the track record of success and the expertise.
2. You Need Someone Who has Walked the Walk
Direct experience is essential. Would you allow a medical student to perform your knee surgery? He’s at the top of his class, after all. Or do you need an experienced orthopedic surgeon who has operated on hundreds, if not thousands, of knees and comes highly recommended? You need someone who has “been there, done that” in many different business environments. You’ll be in good hands with an executive who has previously encountered your problems or issues.
3. You Need Laser Focus on Specific Issues
Bringing an advisor in from outside your immediate organization yields a perspective that current employees just can’t have. Your outsourced executive will have the ability to lay out the parameters of the work at hand, and his or her time will be tracked against KPIs and associated tasks.
Contrast that with trying to solve the problem yourself, or asking an internal resource to solve the issue while still doing his or her regular job functions; the chances of success are low. An advisor won’t have any other job duties – their sole reason for being is to complete the strategies and tasks they are hired for and deliver the agreed upon results.
4. You Need Help YESTERDAY – Time is Money
If time is money, the ability to act quickly can save your business. You’ve already spent weeks or maybe even months trying to diagnose your issues. You’ve even brainstormed with your best and brightest employees on possible solutions, but their lack of experience with these specific problems has not inspired your confidence. A wrong move could cause more harm than good.
An external advisor can be enlisted in short order and can own the heavy lifting and in-the-trenches work that will stop the bleeding and begin the momentum your business needs in order to thrive.
Who Ya Gonna Call?
LinkedIn or online searches are good resources for identifying C-Level expertise in your area. Do a keyword search for the specific skill set needed, such as “outsourced or fractional or interim CFO, CMO or CRO/Sales VP.” Make sure you select a partner who has C-Level experience.
The right outsourced partner will solve the issues you have, yield the results you agreed upon, and lead you down the path to greater success. Your advisor will complete the agreed upon work and then they’ll leave, and you will have the right toolkit to carry on without them.