Scaling an SME on a Budget: Why a Generalist is the Key to Growth
Growing a successful business isn’t just about having a great product or service — it’s about making the right strategic decisions at the right time. As an SME, you know that scaling your business requires expertise in multiple areas: finance, marketing, operations, HR, and technology. But hiring specialists in each of these fields can be costly and often out of reach for many growing businesses. This is where the role of a generalist becomes invaluable at the beginning of your journey.
Why Hiring Specialists is costly for SMEs.
Specialists are invaluable when a business reaches a certain size and complexity. A CFO, a digital marketing strategist, a supply chain expert, and an HR director all bring deep knowledge and experience that can transform different areas of your business. However, hiring these roles full-time, or even engaging high-end consultants, can quickly add up. For many SMEs, particularly those with revenues in the low seven figures, the cost of a specialist for every function is simply not feasible.
This presents a dilemma: how do you get the expertise you need to grow without overburdening your business with excessive costs? If you're wondering when should SMEs hire specialists or how to scale an SME on a budget, the answer lies in starting with a generalist.
Why a Generalist is Essential for SMEs in Growth Mode
At the earlier stages of scaling, a business doesn’t necessarily need deep expertise in every function; instead, it needs broad strategic oversight and operational clarity. This is where an experienced generalist—whether as a business consultant, interim COO, or fractional advisor—adds tremendous value.
Here’s how a generalist can bridge the gap for SMEs before they can afford a suite of specialists:
Big-Picture Thinking: A generalist sees the business holistically, identifying the key areas that need development while ensuring all functions align with your overall growth strategy.
Streamlining Operations: Instead of focusing too deeply on one function, a generalist improves processes across the board, ensuring that marketing, sales, finance, and operations are working in harmony.
Cost-Effective Problem Solving: Generalists are adept at diagnosing bottlenecks and inefficiencies, helping business owners make informed decisions without immediately needing costly specialist intervention.
Flexibility and Adaptability: As the business grows, needs change. A generalist can pivot, adapt, and help you prioritize investments in specialist support when the time is right.
Prepping for Specialist Involvement: By establishing efficient workflows and strong foundational strategies, a generalist ensures that when you do hire specialists, they can hit the ground running rather than fixing underlying issues first.
When to Bring in Specialists
The key is knowing when to transition from generalist support to specialist expertise. Here are some signs that it might be time to invest in specialists:
Your business is consistently hitting revenue targets but struggling with profitability—time to bring in a financial specialist.
Marketing is generating leads, but conversions are low—a digital marketing specialist or sales expert may be needed.
You’re hiring more employees and experiencing retention issues—an HR specialist can help build the right culture and processes.
Scaling operations are creating inefficiencies—an operations or supply chain expert could refine and optimize.
If you’re looking for affordable business consulting for small businesses, engaging a generalist before hiring specialists could be the best move.
A Phased Approach to Growth
For SMEs looking to scale effectively, the smartest approach is a phased one:
Start with a Generalist – Ensure you have strategic oversight, streamlined operations, and clarity on your priorities.
Engage Fractional Specialists – Instead of full-time hires, work with fractional CFOs, CMOs, or HR experts who can provide expertise without the full-time cost.
Hire Full-Time Specialists as Needed – Once your business reaches a scale where specialist roles justify their cost, bring them in to deepen expertise in critical areas.
Final Thoughts
SMEs don’t have to choose between struggling without expertise or overspending on high-end specialists too soon. A generalist provides the clarity, structure, and strategic foresight needed to grow sustainably. Then, as your business scales, you can strategically invest in specialists where they will add the most value.
If your business is at that pivotal growth stage and you're trying to figure out your next move, let's talk. With the right guidance at the right time, you can build a business that scales profitably and sustainably. If you're looking for tailored business consulting that aligns with your growth stage, let's have a conversation. I’d love to hear about your challenges and explore how I can help. Reach out today and let's start the discussion!