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How Do I Find a Good Business Advisor?

by Angelo Ean - 04 Jul 2022, Monday 494 Views Like (0)
How Do I Find a Good Business Advisor?

Do you feel like your business is dragging its feet? Are you struggling to inspire your employees or identify what steps are required to expand your operations? A business advisor could be just what you need to help reinvigorate your team and set achievable goals.

A quick search of the term ‘business advisor Sydney’ will bring up hundreds of companies offering advisory services. How can you be sure that a team will deliver on its promises and make a tangible difference to the performance of your company? How do you find a good business advisor?

The role of a business advisor

A business advisor is responsible for identifying possible areas of improvement in your business and establishing a plan to help you get there. These areas can be anything from your operational performance to financial management.

Business advisors typically bring significant experience with them. Often, they will have worked in a hands-on role for many years before making the switch to consulting work. Alternatively, they may have provided advisory services for businesses of a similar shape and size, meaning they understand the challenges and opportunities you are currently facing.

However, practical experience is not the only thing an advisor needs to succeed. They also require a range of soft skills — the ability to form positive professional relationships, excellent communication skills, and strong problem-solving skills. They must be able to use data to establish informed strategies and be able to weigh up risk vs. reward when looking at potential business opportunities.

Finding the right person

A business advisor who doesn’t possess these skills could do more harm than good for your company. After all, you’ll be making decisions about the future of the company based on their advice.

Your first step should be to identify exactly what sort of help you need. Are you struggling to retain top-performing talent? Is making a consistent profit a problem for you? Do you feel like too much time is being wasted on what should be routine tasks?

While some business advisors can provide general advice, if you have a specific problem, it’s best to find a consultant who specialises in that area. Adopting this approach should narrow down your choices significantly.

Your next step is to find a business advisor with an appropriate level and type of experience. Keep in mind that while experience in your industry is important, a fresh perspective can provide unique solutions to problems you had not previously considered.

Where to find this person? Well, you can start by conducting a general search online. Now you’ve identified what skills, attributes, and experience they require, it should be easier to draw up a shortlist. LinkedIn is another excellent resource for conducting research on business advisors in Sydney.

Finally, consider asking other companies in your industry for recommendations — particularly if you’ve noticed they’ve recently made positive operational changes. Hopefully they’ll be happy to share the secret to their success!

Finding the right business advisor may take some time but it will certainly be worth it in the end. Start your search today.