Hiring a consultant for your business is a big investment. Make sure you hire someone with a lot of business experience like you. Interview different advisors and be sure to ask for recommendations. You want a counselor who is not afraid to tell you how it is, even if you may not want to hear it.
Some things to note are how many consultants have experience working with different companies. Does the consultant have professional network of peers? Can he or she provide you with case studies from other companies they work for? Business consultants are ready to help you. Make sure to interview them as you would any of your team members.
Let's say your company sells scented candles that repel mosquitoes. Your competition might just be a botanical business selling plants that do the same. Your advisor will ensure you benefit by offering the fragrance that is in demand for this season.
With accurate financial reporting, you can understand the factors that are missing from your business, thus hindering the progress of your business.
Also, it will be easier for your business advisor to provide the best advice on how to improve your business. Your advisor should be someone you feel comfortable with and who you believe is in your best interest.