Making the most of Advisor Value
By Steve Marsten
There is no doubt doing business at the moment is tough. We have been through the ringer this last year with bushfires to flash flooding, and now the coronavirus, the December/January period has been tough for many people. The stock markets are volatile, and the words “recession” and “global financial crisis” are spreading through the media again. More than ever, it is important that we have a good understanding of
the value of getting professional advice on how to protect and take our business to
the next level.
Below are some things to consider When Engaging Professional Advice.
What is the Value of a Good Business/Investment Advisor?
A good Business or investment Advisor will partner with you to help drive your company and its investments, to the next level. They must have strong business acumen and the ability to help you and your team drive performance. Give consideration to their experience. Make sure the professional is experienced in running a company. All businesses have growing pains – cashflow issues; profitability HR and other business risk issues etc. Find an advisor who is experienced in dealing with other professional advisors such as an HR Specialists, or marketing specialists or lawyers. They should have sailed through the tumultuous times; seen the ups and downs in business; experienced the good and bad and even the ugly in managing staff and payroll. Here is a thought - Anyone can be trained to be a Business Coach or advisor, but if they haven’t gone through the pain of running their own business, how can they really coach you, your managers and staff?
Practical experience over theory is way more important. Further, a good Business Advisor is always improving their skill level to excel at their craft.
Why Engage or Set Up an Advisory Board?
How beneficial do you think it would be if you had a team of professional advisors were to collaborate together to help your business grow? Engaging an Advisory Board can be very daunting for a business owner; however, it could offer some real benefits to you and your company. You need a dedicated Business Advisor who, with a team of professionals, can help keep your business on track.
Business owners want a team with good insight and foresight. If a company needs expert advice, then a good Business Advisor should be able to go to the market and find the experts you need to help your company achieve its goals.
An experienced Advisor knows how to formulate a sustainable Strategic Plan for your business.
At UHY Haines Norton (CQ) we have the most experienced team of business professionals in the region to assist Businesses build their foundation on the business basics – Profitability; Cashflow; Asset Protection; wealth creation and succession. Call the team now on 07 4972 1300.