From managing people to managing money, running a business requires juggling a lot of responsibilities. While you have strengths in some areas, savvy owners take their businesses to the next level by outsourcing certain tasks to the professionals. Third-party consultants not only bring a deep level of expertise, they can work on a project or seasonal basis which may be less expensive than bringing on a new full-time employee.
If you’re struggling to do it all, consider these five areas of your businesses and the consultants that can help free up your time and boost your business.
Who should I call? Tax specialist or accountant, depending on the complexity of your businessWhat will they do?
- File your tax returns.
- Prepare tax forms for your employees, contractors, or vendors.
- Keep good records.
- Consider online bank statements1 that you can easily share.
- Check in during the year to avoid surprises during tax season.
Who should I call? Bookkeeper or accountantWhat will they do?
- Keep accurate and up-to-date books.
- Identify areas where you can save money on expenses.
- Build sales forecasts and projections to help you understand how different factions affect profit.
Who should I call? IT consultantWhat will they do?
- Set up your business’s technology infrastructure, including hardware and software.
- Keep your systems up to date and advise when it’s time to upgrade.
- Troubleshoot tech issues as they arise.
- Make a list of all your technology and providers.
- Run regular software updates.
- Back up your information on a schedule and know how those backups are stored, such as in the cloud, and protected.
Who should I call? Recruiter or HR consultantWhat will they do?
- Recruit, hire, train, and even fire employees.
- Manage the paperwork to onboard and maintain your employee relationships.
- Design comprehensive, attractive benefits packages and employee policies.
- Describe the type of company culture you want to build to help your recruiter source the right candidates.
- Write detailed job descriptions to help HR consultants fill clearly defined roles.
Who should I call? Marketing consultantWhat will they do?
- Get the word out about your business.
- Generate ideas for social media, digital ads, email, and your website that can help attract new clients.
- Build marketing into your business process.
- Document the process for how you develop your products and services.
- Write down your sales pitch.
- Ask about key performance metrics so you can evaluate whether your plans are working.
Sources: thebalance.com, Internal Revenue Service (PDF), The Motley Fool, Northeastern University blog, The CPA Journal, Monster.com, Wells Fargo, humanresourcesedu.org, CRF Research (PDF), Indeed (PDF).
1. Online Statements require Adobe® Acrobat® PDF reader. The length of time Online Statements are available to view and download varies depending on the product: up to 12 months for auto loans; up to 2 years for credit cards, student loans, home equity lines of credit, and personal loans and lines of credit; and up to 7 years for deposit accounts, home mortgage accounts, and trust and managed investment accounts. The length of time the specific product statements are available online can be found in Wells Fargo Online® in Statements & Documents. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
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