Elmhurst is quickly becoming a dynamic urban city, home to more than 2,500 thriving businesses. Elmhurst is now a highly sought-after locale with both national and international recognition. The city’s allure is not only because of its optimal location within the metro area, but also due to Elmhurst’s remarkable sense of community; it was one of Family Circle Magazine’s Top 10 U.S Towns to Live In.
Elmhurst has always been the place to start a business, but now it’s easier than ever. Major incentives such as grants for new businesses and tax breaks have helped new businesses and existing companies expand their operations in the city limits. Today, the city offers many unique opportunities to entrepreneurs who are looking for an alternative to city life in downtown Chicagoland and its sky-high prices.
However, opportunity comes with its own set of challenges. For business in Elmhurst, business advisory services may be the solution to help you pull ahead of the competition and maximize on the thriving customer landscape. Is your organization ready for professional business advisory services? In the content below, we outline a few signs that your business may be ready for a business advisor.
3 Signs Your Business May Need Advisory Services
1. Your Mission Statement is Blurred
Do you remember why you first launched your business? As the daily complexities of running a business arise, it can be easy to lose sight of your mission statement. However, understanding your unique value proposition(s) is key to distinguishing from your competitors and pulling ahead in the market.
Business advisors are mission statement experts, often enlisted to help business owners rediscover and redefine the reason behind the business and bring clarity to muddled value propositions. Our goal is to take a deep dive into your financials, seeing how your current situation matches your overall mission, and what changes could be made for the benefit of that mission.
2. Your Business Growth is Stagnant
Has your business growth plateaued? Business stagnation will allow your competitors to move ahead. A business advisor can help identify points of weakness that may be causing stagnation and brainstorm tactics that could help pull your business ahead.
3. You Are Unsure How to Capitalize On Opportunity
Business owners understand the importance of looking for opportunities to grow their business. Business advisors can help quarterback your approach and provide the right information for helping with decisions such as mergers and acquisitions, equity and debt structuring, buy vs. lease decisions, and even business procedure analysis and improvement.
Then, when it is time to look into the future, a business advisor can offer help with succession planning, from selling the business to offering assistance with business owner retirement planning.
Need Business Advisory Help? Get in Touch With DHJJ.
The examples discussed above are a sampling of circumstances when pursuing a business advisor could be beneficial for a business – but the list is certainly incomplete!
A business advisor could be an excellent investment if you have a lack of in-house resources, require a business operations audit, need insight into business-altering decisions, or you want to break into a new market.
If you think you may need a business advisor, get in touch with a specialist at DHJJ, and we will offer insight into the best next steps for your organization! We can be reached at 630-420-1360 or via our online contact form.