how do roi experts help local businesses?

In real simple terms, an ROI expert understand how sales, marketing, operations, and finance all work together to improve client retention, client acquisition, and your entire profitability of your local business. Most have the background of CEOs, CFOs, and COOs. I myself, Will Schmidt, have been CEO to 4 companies and have consulted in an ROI expert role for over 42 companies the past 10 years. Let's dig in why ROI experts can help you too.

what is an roi expert?

what exactly does an roi expert do for you?

Day to Day Requirements of an ROI Expert

NDA, BAA and a P&L

You'll want to get a NDA and BAA with the person or entity first. Once that is executed they will want to gain access to your finances; Profits and Loss (P&L) for at least 3 years. This will give them sales trends, profitability trends, possible 3 year EBIDTA, and prepare you for both growth and a possible exit if needed. This process usually takes 3-5 days max and expect to pay the full rate of the ROI Expert's rate for this and each stage along the way. Most ROI Experts charge a flat fee but the equivalent is $250 to $1,000 per hour.

Processes, Automations, and Vendors

Next the ROI expert should examine the entire stage from a prospect to client to fulfillment, to retention, and referrals. Once the visuals make sense from the financials that were already reviewed, it's time to look at technology and the possible automations that could occur.

Personnel Examination

Next the ROI expert will ask to speak with employees. A great ROI expert will start with the lowest ranking employees who have been with the company for longer than 18 months (12 months minimum). From there the ROI expert will work his/her way up the food chain. The ROI Expert will not talk with any C-Suite until they have their recommendation. This is about the growth of the company not the egos of the owners or board of directors. You are paying for their findings, strategies, and possible execution of those plans down the road.

how do i find the right roi expert for my company?

One Day they can see more than your managers...

After checking references and making sure you can afford them, hire them for a single day. Ask them to go to your headquarters and take notes and provide a report as they shadow different departments. A great ROI Expert can provide amazing insights into workflow inefficiencies. The key is to tell no one who this person really is, in fact give them an "intern" status. You will be amazed at what they can report in a single day.

References

Do they have people who have went through what you're going through and what was the outcome? A simple 10-15 minute phone call can set you at ease.

Industry Specific

Do they know your industry? If they don't understand the common words and processes their learning curve will be longer delaying your results.

Do they have a process?

Can they describe their process in chronological order with benefits and results within each phase of the process? If not, they are guessing and you are a trial.

Pricing and ROI

• What budget do you have for this initial investment?
• What type of ROI can you expect in 90 days, 6 months, to a year?
• Is there a guarantee? Most do not guarantee because their analysis has to be implemented.
• Are you willing to go forward and lose your fast ROI for knowledge?
• Do you have an NDA, BAA, and agreement with a specific listing of Scope of Work and access limitations?
  

Do a thorough background check on their past success and meet with similar "like clients." Get an NDA, BAA, and clear scope of work agreement set. Be prepared for both great growth and no growth because their findings have to be implemented by you and your team unless you keep them on as an "interim position." Get over the worries of opening your books and then just let them do their thing. Listen to their findings, do your best to evaluate which ideas will work and then get to work. ROI experts are consultants, and because of this the true impact is your willingness to try new things. Good luck!

Key Takeaways for roi experts and their impact

Do you need help?

If you're in need of marketing services mentioned above, please contact us today and we'll perform a FREE marketing audit, give you the strategy, and go over the likelihood of a 20-40x marketing ROI within six months.

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