Frequently Asked Questions
Got questions about your business (or ours)? We’ve got answers. Below are some of the questions we get asked most often. If you don’t see an answer here, feel free to check out our Tips, Tricks, & Insights Articles in case we wrote a longer answer, or ask us directly with the contact form below!
What does a small business consultant do exactly?
We help businesses who are in the planning, launching, and growing stages to identify challenges, devise effective solutions to those challenges, and execute those solutions.
It may be as simple as providing a one-sentence answer over the phone or at the table, or it may be that we shadow your operations for a week and crunch the numbers. We do what we need to do to make a positive impact for your business.
The amount of time I’m putting into my company is killing me. How can I get my time back?
Delegate, and we’re not just talking about employees. At the end of the day, you, like the vast majority of other small business owners, are probably taking on far too much to keep the costs down.
Whether it’s to employees, automated software, or an outside firm like ours, you need to delegate the stack of work on your desk so you can stop being an administrative assistant and get back to running a business, not just surviving it.
Why would I ask for help from someone who doesn’t know my business as well as I do?
You probably know how your body feels better than your physician, but you should ask your doctor for medical advice. A suspect of a crime knows their story better than their lawyer, but they should let their lawyer navigate the legal process.
Business itself is our specialization. You are the best subject matter expert we could ask for regarding your business specifics, and we are the unbiased pair of eyes you need to get where you’re going.
Why is my small business struggling?
The truth is, without taking a closer look at your specific company, it’s hard to say. The most common issues small businesses face are properly managing their cash flow (and finances generally), accomplishing things with their time instead of just doing things with their time, effectively deploying and developing teams or groups, and keeping up with the books, bills, documentation, and other paperwork.
We provide strategies and solutions in all of these areas and more. Give us a call so we can help you figure things out!
Why do my employees keep quitting?
Are you in a high-turnover industry focusing on unskilled labor and entry-level compensation? Are your competitors finding ways to offer better benefits or compensation for the same work while still being profitable? Do you actively cultivate a safe, professional, and satisfying work environment? What steps do you take to get your crew invested in your mission? Does your company have a mission to rally behind?
Your people are the key to your success, and these are the kinds of questions that make all the difference to your people.
Why doesn't my business show up on Google?
Most often, it’s because your company’s Search Engine Optimization (a factor of effective digital marketing) is either insufficient or, more commonly, nonexistent. To really have a fighting chance on Google you’ll need one or both of the following:
- An optimized, responsive, streamlined website backed by a powerful (ethical) backlinking strategy
- A content-rich, well-established Google My Business profile with enough existing positive reviews and sufficient location data to put you at the top of the results list.
We provide top-tier hosting and SEO-centric web design & construction without breaking the bank. We also offer ethical and effective feedback management assistance to make sure you’re maximizing your presence. Give us a call!
How should my business be taxed?
It depends entirely on what you’re trying to accomplish with your business. Most small businesses will be fine as a Sole Proprietorship, Partnership (or Limited Liability Partnership) or Limited Liability Company, where your income is “passed through” and taxed personally, which is the simplest. Many businesses who are set up as LLCs can take advantage of the S-Corp tax designation, which, depending on the state and company’s compensation setup, can help save some bucks. For-profit companies seeking to minimize risk, harness economies of scale, and take advantage of centralization and uniformity will probably be better off incorporating (usually as C-corps). Companies and organizations with a strong central mission may want to explore options such as a Nonprofit tax designation (the tax-exempt and tax-deductible 501(c)(3) is the most sought-after, but there are other options with different benefits) or incorporating as a Public Benefit Corporation in states where the form is allowed.
Can I organize my business as a Nonprofit?
This is a little bit of a trick question because technically, a Nonprofit is not an organizational entity – it’s a tax designation that can be applied to various other organizational entities (i.e. a “Nonprofit Corporation”).
With that out of the way, whether or not becoming a Nonprofit is a good fit for your business really depends on the nature and importance of your business’s mission as well as how actively you intend to pursue that mission for the benefit of society around you. Nonprofits can be trickier to manage than a standard business type, and their ability to retain their tax designation hinges on various specific factors including the “material benefit to society” that they offer.
If you are starting a business primarily to achieve positive social/societal/environmental or otherwise communal change, we’d be happy to help you get moving in the right direction.
Does my small business need a website?
Absolutely. More importantly though, it needs a website that is well-built and a good fit for the business; as with all business needs, it’s not a “one-size-fits-all” situation. While we designed our own Denver SEO Hosting & Web Design framework to be a powerhouse for digital marketing, we have also helped local artists who need less focus on lead generation and more attention paid to a visually striking online portfolio. A well-designed website will clearly communicate your brand, offerings, position, etc. while connecting you to your market, and all with minimal upkeep and maintenance.
Why is it so hard to find new clients and customers?
Aside from the disastrous economic impact of Covid-19, the fact that Colorado is rife with competition (Forbes lists Colorado as the #4 state in the U.S. for entrepreneurial pursuits), and the obsolescence of some of the most common old-school business practices (sales tactics and “location,” for example)?
The two reasons we run into most often are that small businesses don’t want to prioritize digital marketing enough to sufficiently take advantage of a largely digital marketplace, or they don’t know how or aren’t willing to really sell the value of what they do.
A third and more sneaky problem is that businesses don’t know how to effectively manage their feedback to generate and preserve the fabled “word-of-mouth marketing” that they banked on when they wrote up (or didn’t write up) their marketing plan.
Whether it’s online, face-to-face, or through the efforts of your dedicated sales team, we want to give you the skills and resources needed to get your value out in the marketplace and noticed. Call or email and let’s talk about it.
Why are my margins so low?
That depends largely on which margin you’re talking about! Looking at an Income Statement (a.k.a Profit & Loss Statement, P&L, etc.) the revenue is up top and the net income is down at the bottom. Between those two points, you also have your gross margin measuring how well your revenue addresses the direct costs involved in generating it, your operating margin accounting for the costs of simply running the “backend” of the business, and your tax and interest expense, which, if out of whack, can cost you unnecessarily.
Net income is unfortunately the sole focus point because it is quite literally the “bottom line,” but if any of your other margins are underperforming, that unerperformance will transfer all the way down the statement.
Maybe you’re a little off on the pricing and your contribution margin is lower than desired, which would require a market assessment and possibly a price adjustment or supplier renegotiation. It might be that your administrative costs are running up the bills, which is a conversation all its own. It might even be that you’re not taking advantage of all the tax breaks you could be getting, so your tax rate is needlessly inflated.
Get in touch with us so we can help you get to the bottom (or the top?) of it!
How expensive is it to hire a consultant?
It varies depending on what you’re trying to accomplish. If you just need to run a few key questions through the grinder of an expert opinion, the going rate is anywhere from $50 – $185 per hour in Colorado depending on who you ask. If your current project is restructuring your entire management structure to facilitate stronger communication channels and optimized workflow, you’re probably looking at anywhere from a couple thousand dollars if you’re a small-medium business to tens of thousands of dollars if you’re a little on the larger side.
While some business owners get sticker-shocked at first, it’s almost always beneficial to get an expert opinion, and when well applied, it’s an asset with an unbelievable return.
At Helsing we know and appreciate that most of our clients aren’t made of money (yet). We offer pricing models that are tailored to the needs and abilities of your business, including performance-based compensation plans, and even Sweat-Equity compensation plans for qualifying clients. Contact us and see how we can give you the value you need without the hassle.
Our Process
Our Path to Success
We know getting help with your business at any stage is a significant undertaking. That’s why we base our services off of a streamlined model of engagement that minimizes lag-times and maximizes flexibility and impact. Check it out below!
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1. Preliminary Consultation
We’ll engage in a combination of calibrated questions and conversation to get up to speed on your business, your goals, and relevant circumstances.
We’ll also take care of any paperwork at this stage to make sure our expectations are aligned, including our Non-Disclosure terms.
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2. Rapid Discovery
Once we have an idea of what you’re up against, we’ll take what knowledge we have and bolster it with some quick research to fill in any gaps.
Common research areas include industry metrics and characteristics, location & market, and more.
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3. Primary Report
At this stage, we’ll present you with some avenues you can explore for making the changes you’d like to see successfully.
If you are receiving our Rapid Consulting service, this is the final stage of work. We’ll close the file and ask for your feedback.
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4. Deep Discovery
This is where the magic happens. We’ll use every tool at our disposal to thoroughly explore the specifics of your individual business and generate a detailed and actionable picture of your situation.
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5. Solution Design
Armed with an enhanced understanding of relevant factors, we will collaborate with you to design a specific plan of action for achieving the desired objectives.
We’ll create a mutually agreeable, fully targeted Statement of Work, and calibrate expectations.
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6. Solution Execution
This is where the vast majority of the work often falls. We’ll execute our plan as efficiently as possible and within the scope of the specifications agreed on in step 5.
Any revisions or modifications necessitated during execution will be made and documented here as well.
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7. Terminal Consultation
With the work completed to specification, we can meet a final time to wrap up paperwork, complete compensation if necessary, transfer materials, and review the work.
We’ll also ask you for your feedback at this point; we are always improving and we want you to be a part of that process!
Don't See Your Question?
No need to worry. If we didn’t already cover it in a longer article in our Tips, Tricks, and Insights section, reach out and let us know what you’re looking for. There are probably other people who have the same question and we want to share what we know with you!
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