Top 5 reasons why your business needs an expert

by Kesh Morjaria on January 18, 2011

1. Missed Opportunities; It’s always easier to spot opportunities for others than for yourself. A fresh viewpoint will often lead to you finding an opportunity in what you perceived to be a problem. Any obstacle in a business can be turned on its head to create a positive solution. Seeking an expert, objective opinion can set your business on a fast track to success.
2. Emotional attachment; As the business owner/manager you are often too close emotionally to every small detail of your business. If you were a Surgeon you’d find it much more difficult to operate on your five year old Daughter. An expert third party can highlight where tough decisions may need to be made in order for your business to flourish.
3. Market Intelligence: It is unlikely you will have experience of the structure and processes of a varied range of companies. This is one of the major shortfalls found in most small businesses and it is a gap which can be filled by speaking to a third party who does possess the experience and skills to help you see alternative courses of action.
4. Selective expertise: You cannot be an expert in everything. Just because you own a hospital it does not mean you can also perform major surgery. Equally we would not expect a Gynecologist to perform cardiac surgery. Why would we expect a Web-Developer to know about Internet Marketing or an IT Technician to understand social media promotion?
5. Time: As a business owner your time is valuable. An expert in time management can save an enormous amount of time and therefore a huge amount of money. It’s possible to recoup lost money but it is impossible to recoup lost time!
Your business has far more chance of success when you understand the importance of not trying to do everything yourself.
Building a support team of skilled people around you is a key factor in running a successful business. If you look at those who have enjoyed enormous success in their business, you will discover one thing they all have in common. They have recognised where their skills lie and have sought out others with complementary skills to their own to partner with. It’s this strong team which has enabled them to achieve such success.
Who are the experts in your team?

Previous post:

Next post: