Death, divorce or disability might seem remote possibilities to business owners and partners, but the havoc they leave behind can destroy a a family, a person’s financial future, and a business. Find out why succession planning is essential at every age and every stage of the life of the business.

If you own or are a partner in a business,Guest Posting you should have a succession plan (or buy/sell agreement or contingency plan) to facilitate a seamless transition for the company in the event of your divorce, disability and/or death. The succession plan should also be adequately funded with a combination of cash reserves and insurance. If there is no succession plan or buy/sell agreement in place and fully funded, you risk the business, your future and your family’s future.

Without a fully funded succession plan or buy/sell agreement, death, divorce or disability could cause the business and your future or your family’s future to go up in smoke. If you are one of the 80 – 90 percent of business owners who do not have a succession plan you are holding a ticking time bomb.

Every succession plan for a business owner or partner should pay attention to four things:

· Maximizing the value of the company

· Planning for the foreseeable Issues

· Planning for unanticipated catastrophic events

· Planning to reach your future goals

Divorce. Based on recent data from the National Center for Health Statistics, Centers for Disease Control and Prevention, a marriage today has a 36% chance of ending in divorce. Your business or your business interest is probably the biggest asset you have (depending on your age and the size of your investments in real estate). Unless you have a prenuptial agreement, in the event of a divorce, your spouse is probably entitled to at least a portion of your interest in the company.

Without a good succession plan, a divorce settlement could mean that you now have your ex as a partner in the company. Divorce could also mean that your spouse now owns your share of the company because you did not have the financial resources to buy out his or her portion. You could be working for your ex without a succession plan or buy/sell agreement.

If you had a succession plan, however, qualifications for ownership of the company would have been spelled out and could have excluded divorced spouses. The plan would also have spelled out what would happen to the business in the event of a divorce of the owner or a partner. The succession plan also would have stipulated the creation and adequate funding of a contingency fund that would provide the funds needed to buy out the interest of the spouse of the owner or a partner.

Disability. Any kinds of disability can affect the ability of a business owner to continue to manage a business or to make the same level of contribution to the business. Disability can result from an accident or an illness. Disability can be partial or complete. Every business owner or partner needs a succession plan to specify how the disability will affect ownership of the business, contribution to the business or exit from the business. The succession plan should address your future and the company’s future.

The disability section of your succession plan should address:

· How you believe a disability would affect the value of the business

· How other partners will be affected financially

· How the decision will be made about the merits of you leaving the business

· Funding disability insurance to pay for your future

· Effects on medical and other insurance

· Funding to get the company through a transition

· Funding for partners to buy out your interest in the company according to a succession plan.

Death. Death needs to be considered at every age. As much as we don’t want to think about it, death will come one day. The issue that must be addressed in succession planning is what will happen to your business partners, the company and your family after your death. Even though the likelihood of your death at age 30 is extremely low, it is important to keep in mind that you have far more options and opportunity if you plan early. The older you are the more expensive life and disability insurance will be. Once you get a catastrophic disease (cancer, heart disease, diabetes) it will be difficult (if not impossible) to get life insurance; if you get it, the cost could be prohibitive.

Planning for your death (at any age) can be critical to the survival of your business. If you were, for example, the managing partner in a firm, your absence without a designated and trained successor could cause considerable uncertainty about the future of the company. Your death could affect the ability of the firm to borrow money. A death could also cause uncertainty and changes in terms from vendors. It could cause the loss of key employees. Finally, it could hamstring your partner(s).

No matter how unlikely you believe it is that you will go through a divorce, become disabled or die before a ripe old age, these life events could be disastrous for you, your family, your business, and everyone associated with it in the absence of a succession plan. There should be a designated successor for your role in the company and a clear transition plan. There should be incentives to keep key employees from leaving the company during a transition. There should be adequate cash reserves and insurance to allow your partner(s) or successor(s) to buy your share of the business from your heirs. There should also be enough insurance or cash funding to carry the business until your successor can demonstrate the stability of the company to lenders, vendors and customers.

Death, disability and divorce are the three things most business owners think of when a conversation about succession planning is begun. Unfortunately, however, only 10 to 20 percent of the business owners who need a succession plan actually have one. If you are one of those without a succession plan, don’t you think it’s time to do something?

The Key Ingredient to Marketing: The Marketing Plan

Find out what you need to know about the marketing plan and marketing strategy.

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You may have heard the term marketing plan,Guest Posting but do you really know what it is and how it helps lead a business toward success? The sole purpose of a marketing plan is to outline in writing the specific actions you plan to take in order to attract the attention of potential customers. Then the marketing plan goes a step further because it details out how you intend to persuade these potential customers into buying the product or services your company offers.

It’s about the strategy

In essence, the marketing plan is the guide you use to implement your marketing strategy. This means that the key ingredient to marketing your business is the marketing plan itself. This plan spells out what your business goals are and then draws you a road map on how to reach your goals.

There are two ways that a marketing plan can be developed. Some businesses have someone dedicated to their marketing efforts or they hire a third-party marketing professional to create it as a standalone document. Other businesses include it as part of the overall business plan. Either way, the marketing plan has the same intention; it’s the blueprint for communicating the value of your business to your customers.

The difference between marketing strategy and a marketing plan

People often confuse a marketing plan and the term marketing strategy. While marketing strategy is part of the marketing plan, there is a difference between the two. The marketing strategy involves the goals of the entire business including a definition of your business, a description of your products or services, a profile of your target market (current and potential clients) and a definition of your company’s unique selling proposition (USP), which is what makes you different from your competitors.

While the marketing plan includes the strategy, the true part of the plan itself is the specific actions you’re going to take to achieve the goals you’ve established with your strategy.

Some of the items your marketing plan includes are pricing (for each product or service), the sales and distribution plan and how you plan to advertise and promote your business.

So, can you have a marketing plan without a marketing strategy? No.

Can you have a marketing strategy without a marketing plan? You can, but it’s a complete waste of time. Again, the marketing plan is your roadmap to achieving your strategy. You wouldn’t go on a long road trip without first mapping out the route from you home to your destination, so why in the world would you have a business without a plan for marketing it and attracting business?

Three Levels of Business Succession Planning

There are essentially three levels to a business succession plan. The first level of a business succession plan is management. It is important to recognize that management and ownership are not the same. The day-to-day management of the business may be left to one child,Guest Posting while ownership of the business is left to all of the children (whether or not they are active in the business). It is also possible that management may be left in the hands of key employees rather than family members.

The second level of a business succession plan is ownership. Most business owners would prefer to leave their businesses to those children that are active in the business, but would still like to treat all of their children fairly (if not equally). Yet, many business owners lack sufficient non-business assets to allow them to leave their inactive children an equal share of their estate. Thus, a business succession plan must provide a means of transferring wealth to the children who are not interested in, or not qualified for, continuing the business. Business owners must also assess the most effective means of transferring ownership and the most appropriate time for the transfer to occur.

The third level of a business succession plan is transfer taxes. Estate taxes alone can claim up to 45% of the value of the business, frequently resulting in a business having to liquidate or take on debt to keep the business afloat. To avoid a forced liquidation or the need to incur debt to pay estate taxes, there are a number of lifetime gifting strategies that can be implemented by the business owner to minimize (or possibly eliminate) estate taxes.


Whether management of the business will rest in the hands of the next generation, in the hands of key employees, or a combination of both, the business owner must learn to delegate and work on the business. It can take many years to train the successor management team so that the business owner can walk away from day-to-day operations. For many business owners, giving up such control can be difficult.

All too often, business owners focus more on the ownership and transfer tax issues involved in a business succession plan and ignore the people issues. In the typical family business, the future leader is likely to be one of the business owner’s children. If so, steps must be taken to assure that the future leader has the support of the key employees and other family member owners. Generally, a gradual transfer of roles and responsibilities gives the successor time to grow into his/her new position and allows the business owner some time to get use to his/her diminishing role. Thus, lead-time is important for a smooth transition.

Many family businesses are dependent on one or two key employees who are critical to the success of the business. These key employees are often needed to manage the business (or assist in the management of the business) during the transition period. Therefore, the succession plan must address methods to guarantee that key employees remain with the business upon the death, disability or retirement of the business owner. Among the commonly used techniques used to assure that key employees remain with the business during the transition period are employment agreements, nonqualified deferred compensation agreements, stock option plans and change of control agreements.


Often, a major concern for family business owners with children who are active in the business is how to treat all of the children equally in the business succession process. Other concerns for the business owner include when to give up control of the business and how to guarantee sufficient retirement income. For example, selling (as opposed to gifting) the business to the active children results in all children being treated equally and provides the business owner with retirement income. For those business owners that are not reliant on the business for their retirement, they can gift the business to the active children, and leave the inactive children non-business assets. If, as a result, the inactive children will not receive an equal (or fair) portion of the business owner’s estate, make up the difference by establishing an irrevocable life insurance trust for their benefit.

Simultaneous with the gifting and/or selling of business interests, the new owners should enter into a buy-sell agreement. A buy-sell agreement is a legal arrangement providing for the redistribution of shares of the business following the death, disability, retirement or termination of employment (triggering events) of one of the owners. The buy-sell agreement would also set forth the purchase price formula and payment terms upon the happening of a triggering event. If properly designed and drafted, a buy-sell agreement will create for the departing owner a market for what otherwise would be a non-marketable interest in a closely held business; will allow the original owners to maintain control over the business by preventing shares from passing to the departing owner’s heirs; and will fix the value of a deceased owner’s shares for estate-tax purposes.


The transfer tax component of business succession planning involves strategies to transfer ownership of the business while minimizing gift and estate taxes. The gift and estate-tax consequences deserve special attention. Unanticipated federal estate taxes can be so severe that the business may need to be liquidated to pay the tax.

While there is currently a lapse in the estate and generation-skipping transfer taxes, it’s likely that Congress will reinstate both taxes (perhaps even retroactively) some time this year. If not, on January 1, 2011, the estate tax exemption (which was $3.5 million in 2009) becomes $1 million, and the top estate tax rate (which was 45% in 2009) becomes 55%.

For business owners with taxable estates, a gifting program can be used to reduce estate taxes. For lifetime gifts or sales of the business, nonvoting shares are usually used for two reasons. The first is to accomplish the business owner’s desire to retain control of the business until a later date (i.e., the owner’s death, disability or retirement). The second reason is to reduce the gift-tax value of the shares because of valuation discounts for lack of control and marketability.

Gifts of business interests up to $13,000 ($26,000 for married couples) can be made annually to as many donees as the business owner desires. This amount is adjusted for inflation in increments of $1,000. Such gifts not only remove the value of the gifts from the business owner’s estate but also the income and future appreciation on the gifted property.

Beyond the $13,000 annual gift tax exclusion, the business owner can gift $1 million ($2 million for a married couple) during his/her lifetime. While the use of the gift tax exemption reduces (dollar for dollar) the estate tax exemption at death, such gifts remove the income and future appreciation on the gifted property from the business owner’s estate. Unlike the estate tax exemption, the gift tax exemption remains fixed at the $1 million level.

While a business owner can gift shares in the business outright, consideration should be given to making the gifts in trust. One advantage of making gifts in trust for the benefit of the active children is to protect them from their inability, disability, creditors and predators, including divorced spouses. Another advantage to making gifts in trust is that the assets in the trust at the children’s deaths can (within limits) pass estate-tax free to the business owner’s grandchildren (and perhaps more remote descendants depending on state law). These are sometimes known as generation-skipping or dynasty trusts.

For business owners with very large estates, there are sophisticated gifting strategies that can be used with little or no gift tax, such as installment sales to a grantor trust, private annuities, grantor retained annuity trusts, and self-cancelling installment notes. There is also statutory relief, including Internal Revenue Code Section 303, which permit the tax-free use of a closely held corporation’s cash to pay a deceased shareholder’s estate tax; and IRC Section 6166, which allows the business owner to pay estate taxes on installments.

Life insurance often plays an important role in a business succession plan. For example, some business owners will wait until death to transfer all or most of their business interests to one or more of their children. If the business owner has a taxable estate, life insurance can provide the children receiving the business the cash necessary for them to pay estate taxes. As mentioned above, business owner can use life insurance to provide those children who are not involved in the business with equitable treatment. Finally, life insurance is a popular way to provide the cash necessary for the business or the surviving owners to purchase a deceased owner’s interest pursuant to the terms of a buy-sell agreement. In many instances, the cash surrender value in a life insurance policy can also be used tax free (by surrendering to basis and borrowing the excess) to help pay for a lifetime purchase of a business owner’s interest.


Succession planning is critical to ensuring the continuation of any family-owned business. An effectively developed succession plan provides for a smooth transition in management and ownership with a minimum of transfer taxes. Given the number and complexity of succession options available, effective succession planning requires time, the assistance of outside advisors, the input of family members, and the willingness to address interpersonal conflicts that can arise during the planning process. Once completed, the succession plan will provide peace of mind for the business owner and key employees, personal satisfaction for family members, and new opportunities for the business itself.

Do You Know How to Pick the Right IT Consulting Firm?

The way that people do business has changed dramatically over the last few years. More so now than ever, companies rely on information technologies to have access to inventory, communication with clients and marketing that runs all the time. If you don’t engage with an IT consulting firm that can ensure that your business stays up and running and does so at a reasonable cost then you might be putting your core business in jeopardy.

One of the first things that you should talk to a potential IT consulting firm about is the cost of their services. There are different ways that companies will charge for consulting services and you may either get a rate per employee hour or you can get a quote for a single price to offer information technology solutions. Most companies will opt to have a fixed price to provide IT consulting services and that way they can limit the costs of having the work done for them. If you set up a scheme where there is billing, you might run into problems and have an exceptional amount of work to do trying to figure out how much it is costing you.

Something that is extremely important to any business is to maintain the systems. Any good IT consulting firm will be able to provide you with service commitments as far as how often and for how long your systems might be down. This commitment should also include any kind of situation where systems are down for longer than the agreed amount of time.

Having systems unavailable can be extremely costly to any business. When either employees or clients cannot access the necessary information they need, not only does it mean lost business but it means that your company is not going to look very good in front of its clients. Customers are not aware that it is somebody else’s fault; when you are paying an IT consulting firm to manage your information technology services then you need to know that they will make you look good in front of your clients.

When you’re talking to an IT consulting company about working with your business, the subject of systems monitoring must come up. Waiting for problems to happen can be much worse than finding them before they become a serious problem. Talk to the firm that you are considering contracting with and ensure that they have the ability and commitment to monitor your systems on a full-time basis.

You’ll also need help when it is needed. That may seem like an obvious statement, but many IT consulting firms are not properly set up to field questions and provide support around the clock. There’s no way of anticipating when the situation is going to arise, so make sure to be clear with a company that you’re dealing with that you need to have access to capable help desk support at all times. The investment that you make in IT consulting can be one of the most important things that you do for your business. Make sure that you’re getting your money’s worth.

Unique Uses of Salesforce Consulting

Salesforce consulting is a common practice among most businesses now. This is because the people in the sales department of any business are probably the most important employees. The reason for this is the fact that these people deal with the customers of the business directly. Since keeping customers happy is what guarantees success, the demand for professional consultants is now very high.

Most people assume that they need salesforce consulting only if they need to train their employees regarding customer relations. This, however, is not true. While you may not know it, CRM encompasses a lot more than simply knowing how to talk to customers. There are a number of unique uses salesforce consulting can provide. Here are some of these.

For one, a great use is the guidance and coordination salesforce consulting provides. For example, you may have a number of employees who are great at talking to customers. However, all of these people may have their own preferences while doing their job. CRM advisers will eliminate this problem by providing the same training solutions. All your employees will follow the same guiding force and will, therefore, be true representatives of the business.

Secondly, salesforce consulting can teach you a lot about modern methods. For example, even if your employees are efficient, you may be lagging behind in using the latest techniques and applications for CRM. A professional adviser will educate you about new applications that will not only improve your efficiency but will also save your time. You will, therefore, stay updated with modern technology and will effectively use it to manage your relationship with your customers.

CRM is one of the areas that take up a lot of business costs. However, you need to realize that you must do your best to reduce these. If the costs of your business are too high, salesforce consulting can help you in lowering them. This is because these experts will tell you about methods that will not only be effective but also cheap. Reduction of business costs obviously means that you will earn higher profits. This means that obtaining these services will increase your profits not only by pleasing your customers but also by directly reducing your costs!

Therefore, if you are one of the people who do not believe that consultants are useful, think again. There are several unique uses and benefits these professionals can provide for your business!

How Management Consulting Can Help Your Business Rebound From an Unprofitable Year

Business, like all competitive fields, is one where the weak are culled by how well or poorly they adapt to a changing business world. Businesses who succeed are the ones who never rest on their laurels, but who keep forging ahead regardless of whether times are good or bad.

Consulting is one effective way to have an outsider analyze your company and give you honest answers about what you’re doing well, and what you could be doing better. Consulting firms highlight core capabilities while finding ways to reduce costs and eliminate redundancy to improve efficiency.

Consultants are available for businesses of every size, and few industries are without professionals who specialize in consulting in specific sectors or industries.

Management consulting is a vital service to companies who need help from the top down. Some companies grow too quickly to allocate human resources effectively, and still some need better role definition and communication that could still enhance an effective organization.

Cost control is another service provided by consulting firms which almost every company can benefit from. Whether it’s outdated technology or simply using too much electricity, controlling costs is something that every business can change, even if they can’t change their amount of revenue.

Consulting firms work within the frames of a company’s culture and objectives to realize goals as quickly and efficiently as possible. Executives who are busy patching organizational holes left by layoffs or hiring on new personnel could avail themselves of professionals who spend their days doing nothing but poring over your operations to find out where money is just waiting to be saved and redirected back into the organization.

Consultants can also help successful businesses maximize their upwards climb through strategic planning and marketing assistance. Some of the most innovative businesses are helmed by experts in their field, not necessarily experts in business. And a little expertise can go a long way when it comes to trying to find market placement and an image tailor fit to each product and business.

Consulting is a fantastic method of getting a fresh perspective on your business from someone who is trained in the field of making businesses run more smoothly. Consulting can help you with your IT solutions or it can help you with the accounting or marketing expertise your company might desire.

So if your numbers aren’t where you feel they could be, remember consulting could be the silver bullet that helps you boost efficiency and cost control with a relatively low upfront cost. The companies which adapt best to the business environment as it changes will have the easiest time staying current, and staying in the black.

Why You Should Use An Internet Business Consultant

When people look for your company on the Internet, are the search results pointing them to your website or at least to links for sites that provide useful information about your business? If your company doesn’t have a presence on the Internet, it may seem like you are practically invisible to the world. It would be a good idea for you to use an Internet business consultant to help people find your company.

A consultant will help you set up a website for your business if you don’t already have one, or analyze your existing website to see what works and what needs improvement. You’ll need to provide information about the goods or services that your business offers, and present it in a way that makes sense to busy people who are simply trying to find what they want with the least amount of hassle. The consultant will make sure that your website tells people all about you, such as your goals, mission and history, along with testimonials from satisfied customers.

You may include biographies of key employees, along with photos and contact information. Depending on the nature of your business, you enable people to see a catalog of goods and services, a blog that gives customers regular updates about the business, and the ability to sell things online. Other useful pages on your site will give information about your privacy policy and answers to frequently asked questions. Your website may also benefit from allowing visitors to talk with one another, sharing information about the goods and services you provide.

Consultants will also help you with the content that appears on your site, such as articles, photos, sound and video. Besides editing text and selecting the best types of media files to use, the consultant should provide search engine optimization (SEO) services that will help you get indexed properly. Your goal will be to make it easy for people to find your company when they search for key phrases related to your goods and services.

Beyond helping you with your website, a good consultant will assist you in using social networks to further increase the reach and recognition of your brand. Members of social networking sites who like your business will be able to quickly share their recommendations with their online friends. Your presence on the Internet can extend further as you post clips on video-sharing websites, add comments to forums and publish articles about your business.

Because so many people access the Internet with their cellphones and other smart devices, a good Internet consultant should also be able to help you optimize your company’s website for mobile access. When someone visits your website with a cellphone, the site automatically detects that it is being displayed on a phone, and presents a streamlined version of each page to that it is easier to read on a tiny screen. For example, instead of seeing dozens of paragraphs about different subjects, people will see just the headlines for each item, which they can then tap to read more.

Make a point of asking your consultant whether it would be a good idea for your company to develop its own app for use on smartphones. An app enables you to offer added value to your customers, so they can use your services or get more information about your company while they’re on the go.

Protect Your Construction Investment – Hire Building Consultants

From the smallest construction project to large multi-million dollar ones, building consultants are needed to protect your interests in a variety of areas. After all, it is almost impossible to fully involve yourself in every aspect of building. Something’s got to give and this is where hiring a professional consultant comes in.

What exactly does a building consultant do? They could be hired by a home builder to straighten out disputes with vendors or help deal with the local government on disputes about property lines. In larger scale projects, consultants could act as project managers, review contracts or even serve as mediator during certain negotiations. If you are unsure as to whether you really need to hire a consultant, here are a few more areas to consider:

Solving Disputes

Building consultants could serve as a neutral intermediary party in regards to filing or responding to paperwork about construction project problems. They might provide strategic advice for represented clients or serve as an enforcer to ensure a party adheres to a particular judgment made against them.

These consultants also may represent a client during mediation as well as help them prepare the paperwork and rebuttals. Consultants negotiate on a client’s behalf and arrange for the facilitation of settlement actions.

Contracts and Claims

Part of the duties of a building consultant might include drafting contract proposals on the client’s behalf as well as review current proposed contracts, amendments and other legal documents pertaining to a construction project. The consultant may also be called upon to help draft rebuttals and responses to contracts as well as help negotiate new terms.

Should there be any claims to file, building consultants may help you identify areas where you may be eligible for a claim. They may also help file claim forms, defend the claim with proper authorities, or even help file extensions so you can have more time to research a potential claim. Consultants may also acts as neutral parties and review claims to determine validity and chances of success.

Project Management and Training

Another duty of this type of commercial consulting is the creation of procedures and check systems for your projects. They might audit financial reports, train staff or provide general management support. Project management duties might include supplies forecasting, cash flow analysis and scheduling of vendors and materials for a project.

All aspects of a construction project, regardless of size, could benefit from the consulting advice of a professional. Hire business consultants with experience in both large and small projects.

What Are the Prerequisites of an Efficient Salesforce Consultant?

Businesses are now desperately looking for Salesforce Consultants to achieve their Salesforce development needs. There are certain key qualities to look in to before selecting the right Salesforce Partner. They must be able to communicate productively and must have deep expertise in knowledge and innovative skills.

Listening Skills

A Salesforce consultant must be a good listener in general. They must be able to understand your business goals and also must be quick enough to grab your ideas and translate it in to design. Ask for documentation so that you can be sure of whether they have arrived at the right conclusion about the Salesforce development needs of your company. Flexibility is another key aspect to look in to. Check whether your Salesforce consulting partner is ready to adapt to any changes that might happen in the future for your business requirements. The flexible the consultants are, the good they will be.

Knowledge Specialists

It is an important aspect in Salesforce development. It is a basic requirement that you should choose the knowledge experts as per your business requirements. The knowledge experts have been categorized in to three.

They are,

• Administrator

• Developer

• Implementation Experts


A Salesforce Certified administrator would be responsible for effective management and maintenance of your Salesforce development requirements.

• Responsible for security and user management

• Look after the main features of service and sales cloud

• Workflow automation and approvals

Developers certified developers will be responsible in guiding you towards the design and development of a constructive data model.

Other functionalities of certified developers include,

• Follow the best practice for building custom applications

• Identify use cases

• Evaluation and configuration of security settings

• Enhancing the business logic

• User interface customization

Implementation Experts

Implementation experts have specialized knowledge of dealing with the challenges in the implementation of customer-centric solutions.

Two kinds of Implementation experts are usually available with a Salesforce Consulting company.

• Certified Sales Cloud Consultants

• Certified Service Cloud Consultants

The sales cloud consultant deals with the designing of the applications as well as Sales and marketing solutions. They are also involved in the customization of user interface to enhance productivity and also tailor the analytic solutions for keeping track of the key metrics. Service Cloud Consultants focus mainly on designing and building solutions keeping in view long-term success. These consultants design Customer Contact Center Solutions that helps in incorporating features such as knowledge bases, customer portals and partner portals.

Creative Solution Providers

Salesforce consulting partners must be able to deliver a combination of best practices along with innovative skills. Each business will have their own individual requirements and the consultants are responsible in delivering solutions that are unique and able to maximize efficiency.


Company stability signifies its reliability too. Check how long the company is doing business and get more information about the testimonials of the clients they have dealt with. A winning track record means the Salesforce Consulting Company you have chosen will be able to deliver your needs in more than one area of solution.


It is desirable to check whether the reputation of the company is trustworthy or not. To check whether they have any customer satisfaction issues, it is better to ask for references right away. This will make sure that you have taken the right decision by choosing your Salesforce Partner Company.

Could Hiring a Business Consultant Be One of Your Smartest Business Decisions?

Today, businesses are facing a variety of challenges and thus, the needs of the business are changing. Owners and managers are faced with questions of growth, development or whether they should “batten down the hatches” for survival. Often, managers and owners do not know exactly what to do in such uncertain times. Others may have ideas of what needs to be done, but are unsure of the exact plan to reach the desired outcome. This is precisely the situation where a business consultant becomes a tremendous asset to a business. A business consultant that understands the business objectively can be managements’ coach through these challenges.

As businesses mature, new problems and challenges arise that offer various complexities that management may not be able to place in context. An experienced business consultant will put those challenges into perspective- by using their broad knowledge base- smoothing out the complexities in a way that will also allow management to learn and evolve.

By retaining a business consultant and by keeping him/her summarily involved in your business at all times, you put a key ingredient in place for success. Not only will that consultant be able to react quicker to issues- by not having to “catch up”- but the consultant will likely spot trends that can be lost, when day to day operations get in the way of objective thinking by on site managers.

Issues with inventory control, operational efficiencies, market changes, employee morale and other key day to day operational or administrative tasks can be vetted and outlined by an engaged business consultant; saving a company time, money and other valuable resources.

What makes the business consultant such a great decision?

Regardless of size, all business owners and managers face tough decisions. Those decisions can be muddied by the stresses of day to day operations, outside influences or a lack of organization. Business consultants have one objective: Support their clients business and its management, in a manner that provides prosperity.

1. Business Consultants are engaged in analyzing the business culture and environment. By understanding your individual environment and that of the entire market, your business consultant will give you clear, objective advice on issues affected by these.

2. Business Consultants will have a top down view of your operations. Through regular review of your operations, they will pinpoint inefficiencies and/or weakness in your operations, again, providing you with objective advice in order to take corrective action.

3. Business Consultants will understand your financial situation and how each part of your company contributes to that situation. Through regular review of your operations, your consultant will identify positive and negative trends within your company, tackling issues long before they become infectious or cause too much damage.

4. By being a part of the forward looking plan, you will gain an objective pair of eyes, looking out for your business from an entirely clear perspective. Always with an ear to the ground on industry or local issues, your consultant should provide advance information on a wide variety of topics that may affect your company’s future.

Small business consulting is a growing field of expertise. It has been realized that all business owners and managers benefit from having an objective consultant on their team. By engaging a business consultant and keeping them involved with your company, you ensure that he/she will be able to react for your business in an efficient manner, helping you solve issues quickly. In today’s hyper-communication environment, reacting to issues efficiently with sound information is key in making good business decisions and having a prosperous business.