21 Sep Reasons to hire a business consultant
Top reasons you should hire a business consultant
As a small to midsize business owner, you didn’t get to where you are without knowledge and skills. But there may come a time when you need a little help to take your business to the next level, such as a business consultant and business consulting services.
Benefits of business consulting
Business consultants can increase profits
Most importantly, we can identify ways for you to reduce expenses and increase your profits. Because business consultants have specific expertise, they are aware of ways for you to reduce your overhead.
One way would be to hire a consultant to complete tasks you don’t have time to do yourself. By supplementing staff, you can save over having to hire a full-time employee. Even though consultant fees are generally higher than a salary, consultants don’t require benefits, which can result in savings over time.
Business consultants can give an objective perspective
You might be too close to see your business clearly. We can look at your business objectively, identify problems and give you options to fix them. We can even do “the dirty work” you don’t want to do.
Business consulting can help you accomplish your goals
You won’t get anywhere if you don’t know where you are going. That’s why we think it’s important to develop a long-term plan that keeps the big picture in focus. The short-term daily demands of running a business can often take precedence over your larger goals.
Hiring a business consultant can help you refine and focus on your vision when things get hazy. We can help you see where you are going and develop a road map to get there. A long-term plan can also help create your business’s foundation for the next generation.
What if you don’t know what your ultimate destination is? That’s what a business consultant is for.
A catalyst for change
Businesses can become entrenched in corporate culture. One way out of a rut is to get a push from the other side.
Consultants can be a benefit without having to worry about issues that might get in the way of positive change. The final goal is to make your business successful now and in the future.
Business consultants have a new set of skills
We can use our skillset to make a difference in your business whether it be the sale, merger or purchase of a business, contract negotiations, succession planning, and more.
As business consultants, we will focus our energy on creating clear paths that led to success for your business.
DVF has long been recognized as a firm that is forward-thinking with expertise in the area of business consulting. Therefore, our team can identify business solutions and assist in the implementation of a course of action to realize a client’s objectives and goals.
We assist our clients in a myriad of specialized areas that may include forecasting and projections, succession planning, cash flow management, business plan preparation and more.
Why should your company consider business consulting?
Business consulting should be forward-thinking and innovative. In many cases, businesses and individuals have situations that occur that are outside of the normal scope of an accounting firm such as budgeting, forecasting projections or cash flow management. We believe it is our responsibility to take the proper steps to guide you through the process and offer sound instruction and establish practices that will elevate your business to the next level.
In any of these situations, goals and objectives should be considered along with a course of action. At Dempsey Vantrease & Follis, our cast of business-centric associates have assisted clients in several areas that include the following:
- Forecasting and projections
- Preparation of and consultation regarding business plans
- Industry-specific consultation
- Succession planning
- Cash flow management
- Customized coordination of communications involving other professionals including attorneys, brokers, bankers, and insurance agents
- Employment agreements
- Buy-sell agreements
- Consulting agreements
- Non-compete agreements
- Organization documents (LLC, Partnership, Corporation)
- Asset purchase agreements
- Stock purchase agreements
What are the benefits of a business valuation?
In today’s business landscape, a business valuation is an essential step to determine the value of a business. Many industries are unique within their own regard so a business valuation provides an estimate of value for an ownership interest in a business entity at a particular point in time.
In many cases, businesses and individuals may face situations that require special business valuation services. Many put time, money, and much effort into growing a business so a business valuation can offer many benefits for the long-range picture and health of a business.
One of the benefits of a business valuation is that you can create a clear and concise picture that accurately represents the value of your business. By examining financial documents, tax returns, budget numbers and other agreements, our team of Middle Tennessee CPAS lays the groundwork for a solid foundation.
Another benefit is found within the fact that a CPA can be a wealth of information on areas that may increase the value of a business. At DVF, we understand that when determining the value of a business it is sometimes more than just number crunching and there are many intangibles that go along with the process.
Once a business valuation is achieved, you will be more likely to adapt to conditions within your given industry and make informed decisions regarding not only your own business but competition and the economy.
At DVF, our Middle Tennessee CPAS designated as Certified Valuation Analysts offer business valuations services in the following areas:
- Estate Planning
- Gifting Programs
- Business Acquisitions or Divestitures
- Litigation Services
- Buy-Sell Agreements
- Due Diligence Services
- Business Succession Planning
- Loan Applications
- Family Limited Partnerships
- Divorce Cases
To schedule a meeting with a member of our business consulting team, call (615) 893-6666 to contact our Murfreesboro office or (615) 444-4125 to speak with our Lebanon staff.