WHY SHOULD I CONSIDER A BUSINESS ADVISOR?
Hiring a business advisor to evaluate the current state of your business, and suggest/steer meaningful change can be a valuable investment for businesses of all sizes. Here are several key reasons why it’s beneficial:
- A Business Advisor offers a wealth of experience and experiences that can steer you to greater success and help you avoid the trap doors that have stalled growth for so many other businesses. Their outside perspective can clarify challenges and provide fresh solutions that may not be apparent to those inside the business.
- Owners and senior executives are in the thick of things 24/7, which often prevents them from seeing opportunities or problems. A Business Advisor provides a fresh, unbiased, and experience-based view of the business and its employees, not compromised by promises, hope, or wishful thinking.
- A Business Advisor reviews the organization’s financials with a fresh set of eyes. That fresh view makes it easier to spot errors, questionable entries, misallocations, and more. Ensuring accurate and properly formatted financials contributes to better decision-making, problem identification, and profitability.
- Your Business Advisor will contribute to solving nagging operational and personnel problems. As a business owner, you likely struggle to balance performance and loyalty. While the role of the Advisor is not to actually manage personnel, here too that fresh set of eyes can provide an objective view of your employees and leadership team.
- A business management consultant can serve as a link to a broad network of industry experts, potential partners, or prospective senior employees.
- In the midst of the day-to-day, your Business Advisor will keep you focused on the future, looking for and adapting to market changes, economic downturns, management transitions, or even a potential sale of the business. They can also assist with succession planning, ensuring the business continues smoothly after leadership changes.
- Our Business Advisors are also Certified Business Coaches with thousands of hours of experience. A coach can help turn “B” employees to “A” employees, help improve the performance of marginal employees, and help leadership teams meet and work much more effectively.
When Should You Consider Hiring a Business Advisor:
- If you are just starting out, a Business Advisor will help ensure that the foundational decisions you make at startup are appropriate to support growth, promote a strong resilient organization, and manage risks.
- Contrary to common perception, growth can be as damaging to a business as stagnation. Growth challenges cash flow, hiring, processes, the organization chart, and allocation of resources. A Business Advisor helps ensure that growth is manageable, appropriate for the available resources, and is managed in a way that preserves the integrity of the organization.
- For most business owners, the business is their single, largest asset. And for most, they will most likely sell a business only once in a lifetime. A Business Advisor, skilled in Exit Planning, can help ensure that when the time is right, the owner is prepared, and the business is in the best possible shape to present to prospective buyers. are prep-crisis periods when facing significant challenges that threaten stability.
- Preparing for sale or transition to ensure a smooth process.
