As any entrepreneur will tell you, starting and successfully running a business is tough. Managing your time, ensuring your company and employee needs are met, and allocating resources efficiently? Whew! It is certainly not for the faint of heart. But what happens when you are faced with one too many goals and not enough manpower to handle the pressure? Do you build from within or reach out to skilled professionals to give you a helping hand?
For many business owners, keeping work projects internal is advantageous. Not only do you have more control over workflow and its processes, but you are able to keep costs relatively low, communicate easily across departments and handle any crises that may arise within a timely manner. But there are times when this approach just doesn’t pay off. And realizing when it is more effective for your business needs to hire a reliable marketing expert is key to keeping your business afloat.
Here are the four signs to look out for that may indicate it’s time to hire a marketing expert to help you achieve your organizational goals:
1. Your Bottom Line Is Stagnant. Have you found yourself spending hours upon hours staring at a spreadsheet wondering, “Why are my expenses increasing while my bottom line is at a standstill?” If the answer is yes, it may be time to outsource your marketing efforts. A knowledgeable professional will be able to give you industry tips that will help attract new customers, bringing in additional revenue in the process.
2. Your Staff Is Overworked. With smaller firms especially, it is easy for employees to feel burned out with the constant workflow and increasing demands of clients. A true sign that it is time to bring in extra help is when you have hundreds of hours of work that need to be completed with the bandwidth of only 10 individuals. While you might think just getting your staff to complete more work is the answer, they’re just going to hit a wall of exhaustion at some point. You can reduce the workload on your employees, freeing up time for them to brainstorm more creative business ideas to further the mission of the organization.
3. You’re Falling Behind. Let’s face it: no one wants to fall behind on deadlines. It puts an unfair burden on your employees, affects your clients’ engagement and return on investment and, not to mention, puts your company’s reputation at risk. If you’re constantly playing catch up and unable to find new ways to strategize results, an outsourced firm could do some of the work for you. It is important to remember that while you may have the skills to complete the work, you just don’t have the time. And that’s okay.
4. Your Budget. Attracting top talent is one thing but hiring and training them is a costly byproduct of running a business. If you are a newer company that hasn’t quite built up the same reputation as that of household brands, it will be costly and often impractical to bring on top-notch talent, forcing you to hire lower level employees who may not have the skill set to just jump right into important projects. Being aware of your financial restraints as a business will help you in figuring out if you need to hire additional workers or a firm that works on retainer for projects.
The bottom line is growth and sales suffer when you’re ignoring the tell-tale signs that you are doing too much. Doing what is best for your company will help you secure leads and prevent them from falling right into your competitors’ arms. Because no one wants that, am I right?