Do you see your doctor every year or two for a general check-up? You know that time when the doctor pokes, prods, gets blood tests done, and will often give you advice on changes you should make in your lifestyle to stay healthy (exercise, diet and so on). And once in a while the Doctor spots a problem you overlooked – or have been ignoring the symptoms of. Do you ever ignore symptoms? Many of us do. Sound familiar? And your business is no different.
What makes for a great Doctor? Along with all that training they get, the really great doctors are good because they see lots and lots of patients just like you. They have a broad experience making it easier for them to both identify symptoms and proscribe how to best cure.
Maybe you have a mentor or partner that you use to bounce ideas off. Maybe you don’t.
Once a business gets beyond 10 people and over $2m in annual revenue, I strongly recommend you get your business its first “physical”. Call in a professional that has broad and deep experience with small technology companies to look at what you are doing, and identify areas for improvement. I am sure you know areas of your business that “don’t feel right” – but you aren’t sure what to do about it. Getting a fresh look from an outside without a vested interest can be enlightening – and can help you get your business back on the growth path.
Can you afford to engage a good business Doctor (Consultant)?
You can. For just $5k you can get started with an initial business analysis – that has the potential to impact your business by hundreds of thousands of dollars. Sure it might lead to your investing $20k with the Doctor – but the ROI can easily by 10X – if not 100x.
So how do you find a good Doctor (Consultant)?
Like anything, getting good references, and having a quality discussion with the references, is the place to start. Of course their having a broad variety of experience working with small technology companies is a prerequisite.
One small technology business consultant I have seen a few of our partners have a great experience with is Phil Morettini (based in Southern California).
Next we’ll talk about the use of professional research to get your business back on the high growth path.