Even benevolent friends can become advisors to your business, regardless of the fact that they may not have any significant experience. But what are the key dissimilarities separating a great business advisor from an average one?
Here are some factors that we think are important:
- Exposure to a variety of situations and scenarios in the business world.
- The ability to fuse information learned from related experience with the current context faced by the business. Thus, being able to form rational recommendations based on comprehensive assessments.
- The knack to communicate in a way that is easily understood.
- To help provide a path to achieve the desired outcomes, with regards to the resources available to the business.
So, based on these factors, can an accountant or an advocate make a good business advisor? Well, we believe yes, provided that the individual is able to do all of the above in a way that is reasonable and can provide the ‘light bulb’ moment. Though most will acknowledge being able to do that, not all can do.
It’s like what we always believe, “The right business advisor can take your business from good to great”
The Things to Consider
How can you assess whether someone can make a good business advisor? Decked are a few useful things to seek when seeking help of a professional Business Advisor in Melbourne:
Business Model
What is the main cash-flow generating activity of the business you are considering? If their main field is via an area other than business consulting, then it is possible that their expertise is largely based in that area. Try opting in for an organization that has a track record of working with companies from a business perspective.
Ability to work with you
You need to feel comfortable with the person you are going to work with. You need to be able to trust them, as you will be revealing confidential information about your business. If you are not comfortable with your Business Coach, it’s unlikely they will be able to help you on any meaningful level.
Experience
Do they have the extensiveness of exposure to business that you require? Do they have an in-depth knowledge of working in various stages of business growth and will they be able to work with you from an experienced perspective? Experience is vital to know that they have succeeded with others before trusting their advice.
Don’t take unnecessary risks with your future! Allow the professionals at Medvisor Consultants to guide you towards achieving your financial goals. We offer multi-disciplinary practices in Accounting, Taxation and Business advisory in Melbourne. Our specialist areas span a broad spectrum of services includes accounting, taxation, and compliance to business strategic and operational planning. Visit our website today for more insights.
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