If you’re a small business trying to gain profits and market share, leave no stone unturned when it comes to getting an edge. The United States is home to almost 33 million different small businesses. One of the best ways to help your company rise to the top is by finding a quality business manager.
You can hire someone full-time on a salary, but many companies today are supercharging their success by outsourcing the work to CSuite executives. What does this mean for your company, what are the benefits, and how can you make the right hire?
We’re happy to explain.
The tips below will help you when you’re considering outsourcing business manager services.
What Is the Role of a C-Suite Executive Business Manager?
Hiring a C-Suite executive to serve as a business manager can work out for your company in several ways. These pros take on several roles when called upon, such as fractional Chief Financial Officer (CFO), Chief Marketing Officer (CMO), and Chief Technology Officer (CTO).
You might choose a specialist, or a business manager that provides all-encompassing services. Some responsibilities that an outsourced executive business manager might fill include:
- Handling your risk assessment and strategic planning
- Playing a role in your company’s board or other governing body
- Auditing the way that you use your company’s resources
- Establishing programs and initiatives
- Providing professional coaching to your employees and managers
Companies can decide on what role executive business managers can fill, so consider this as a starting point.
What Are the Benefits of Outsourcing a Business Manager?
So, is it worthwhile to outsource your business manager, rather than hire someone full-time? The simple answer is a resounding yes. These professionals are skilled and can help you do more with less each work week.
Here are some advantages that you’ll appreciate:
You Get Access to a Wealth of Experience
There’s no substitute for the level of experience you get access to when outsourcing to an executive business manager. By title and category, they’re at the top of their field, so you cut through trial and area and start to get results.
They’ve been through several business management challenges throughout their careers, so you can count on the fact that they’ve faced adversities and obstacles.
It’s a Cost-Effective Practice
By outsourcing this work, you’re getting high-level service without paying a full-time salary. To get this level of experience as a salaried position in your company, it would take a lot of vetting, more money to budget, and you’d have to also offer a competitive benefits package.
You’ll also save money on any projects that you carry out. For instance, using a search form to hire someone to put together an Information Technology (IT) team and build infrastructure will cost far more than outsourcing for fractional CTOs and allowing them to leave their imprint.
Upgrading and Overseeing Your Technology
You need to always be prepared from a tech standpoint in this day and age. We live in a Web 2.0 world that is rapidly speeding toward the next evolution. People are increasingly using tech like voice search and Internet of Things (IoT) devices.
About 43% of cyberattacks today are perpetrated against or target small businesses.
In other words, you can’t afford to get left behind with your tech. Working with professionals with the highest standards and levels of information will help you modernize your company and handle these and other tech issues.
They Can Help You Raise Money and Address Debt
Outsourcing a CFO is also an excellent way to raise funds and handle debt issues.
One of the best reasons to outsource business manager services is because they can help your company create a budget that you can stick to. These pros also have relationships they can leverage so that you get seed money for different business ventures.
The sky is the limit when your company is raising money and minimizing debt, but you can be in for a world of hurt if these are issues that you struggle with.
You Can Establish Some Ironclad Practices and Protocols
Another reason to outsource to executive-level pros is that they can leave you with strong practices, protocols, and standards. They can establish routines that will set you on the right track and help your company improve its culture as it increases profits and brand awareness.
A strong culture also means that you will improve employee retention and reduce turnover.
How Can You Hire a Business Manager?
First and foremost, consider your goals and the challenges you’re facing so that you know what work you need. Choosing a fractional CMO is easier when you know what kind of marketing needs you have and what audience you’re trying to reach.
Budget for outsourcing services to make sure that you’re getting the service that you need without pauses in progress. Once you’ve found some quality pros, book a consultation with at least three business management companies, get their rates in writing, and create a working arrangement that is best for your company now and for however long you need them.
Outsourcing Your Business Advisory Services
These tips explain the advantages of having an executive-level business manager for your company. You should leave no stone unturned when it comes to getting this standard of professional help for your business.
At Lighthouse Power Business, we have everything you need to be more productive and effective. When you’re ready to request a quote, send us a message to schedule a call, or pick up the phone and dial (720)779-2313.
