If a traveling medicine man came into your office and promised that his elixir – if taken properly – would, after five years, provide your business such substantial growth that you would need to increase your staff size nearly 60%, would you believe him? Perhaps not…but maybe you should.
OK, there are no magic elixirs in business (or anywhere else). But there are professional advisors that are proven to improve functional business areas such as marketing, accounting and human resources. Research from the Kellogg School of Business Management at Northwestern University confirms how guidance from consultants can be a game-changer.
In the study, 80 firms selected at random received consulting services while a control group of 282 companies continued business as usual without expert guidance. After one year, the companies with consultants improved their productivity and return on assets compared to those that didn’t have professional support.
Five years later, the results were even more impressive. Firms with a consultant noticed substantial growth and increased their staff size nearly 60-percent. These businesses gained confidence, boosted employee wages, and set goals – something that wasn’t possible for them in the past.
The control group’s evolution was relatively stagnant.
Of course, as they say in automobile commercials, “Your mileage may vary.” No two companies are exactly alike, but why continue to struggle figuring out a strategic plan and setting goals for your company’s growth and success? Partnering with companies to help plan, set goals and meet those expectations is why TRG Marketing was formed 20 years ago. We’re still doing it today and there is no medicine man on staff.
For additional insights on how today’s business owners can accomplish gains when they enlist the services of a professional advisor and more, read What Does It Take to Make a Small Business Work.
