Time is the ultimate equalizer. Every individual, from the CEO to the intern, has the same 24 hours each day to accomplish their tasks. So, why do some leaders consistently achieve more? The answer lies in their ability to prioritize tasks with the highest value and delegate the rest. For project managers with seasoned teams, delegation is a familiar process. However, executive leaders often find themselves without a team of experienced business managers to handle critical tasks such as financial planning, operations, or strategic marketing. Fortunately, there are solutions available.
Just as you might hire a part-time typist, virtual assistant, or contract employee, you can achieve similar benefits by engaging a C-suite executive on a flexible basis to lead or execute high-level initiatives. The key to success, as with any hire, is ensuring the individual has the expertise and experience required for the role. When combined with a collaborative, team-oriented approach, this strategy becomes a powerful recipe for success. Here are three primary advantages of outsourcing flexible executives that every business owner should consider:
- Gaining Valuable Time
Optimizing your time is a constant balance between the value you bring to your business and the cost of hiring someone to perform the same tasks. One of the most common mistakes owners make is underestimating their value to their firm. While the value of services provided to clients is often reflected in billing rates, the time an owner spends working on the business itself is far more valuable. By outsourcing tasks like financial management, employee development planning, or crafting marketing strategies, owners can free up hours each day to focus on acquiring new clients, opening new offices, expanding into new markets, shaping company culture, or improving production efficiency. These activities can significantly increase profits, enhance market value, and yield a greater return on investment. - Enhancing Efficiency
Many executives in the architecture, engineering, and construction (AEC) industry have spent their careers honing their technical expertise. As their businesses grow, they must balance this expertise with evolving business management strategies at each stage of growth. By engaging an executive who has already navigated similar growth phases and is well-versed in the challenges that come with them, owners can bypass the learning curve and achieve peak operational efficiency more quickly. This improved efficiency saves countless hours, even for the most skilled business owners, leading to accelerated growth and income at a lower cost. - Facilitating Team Development
A critical, often overlooked benefit of bringing in experienced business operators is the mentoring component. A flexible executive should not only contribute to strategic management but also serve as a mentor to the business owner and the team, ensuring progress at every stage of growth. This approach allows firm leaders to not only reap the benefits of strategic management but also to learn from it. The ultimate goal for the owner is to maximize the value of outsourcing by ensuring that it results in more efficient operations, experienced guidance, and ongoing knowledge development.
Flexible Executive vs. Business Consultant
You might wonder, what sets a flexible executive apart from a business consultant? A flexible executive works closely with your management team on an ongoing basis, leading initiatives from various C-suite perspectives. They bring cross-disciplinary expertise, allowing them to assess the return on investment (ROI) of a marketing campaign in the context of other financial investments or to understand employee retention from recruitment, financial, and operational standpoints. On the other hand, a business consultant typically provides a snapshot of your business at a specific moment in time and offers recommendations that the owner must implement. While a good consultant delivers informed and knowledgeable advice, the execution often requires change management skills that aren’t always included in the consulting process but are integral to the role of a team-oriented flexible executive.
When considering outsourcing at any level, business owners should seek individuals with the specific experience and expertise needed for the task at hand. A clear work plan should outline how the process will save the owner time, improve efficiency, and support the ongoing development of the team. By leveraging the right external talent, you can position your business for sustained growth and success.