Mustard outlines some of the ways you can tell if you need advice and guidance from a business adviser.
What exactly is a business adviser?
In the world of sport, even the highest performers have a team of coaches, mentors, and advisers to help them get the best out of every aspect of their performance – strategy, tactics, skills, physical fitness, resilience and mental fitness. To perform at the very highest level in business, you need the same – someone to advise you on strategy or tactics; to coach you in the skills you need; to ensure your business has the right resources and is fit for stable, sustainable growth.
Here are 10 signs in particular that you need a business adviser.
1. Are you stuck?
Maybe you, the business owner, feel like you are stuck in a rut – even the best of us sometimes lack inspiration, and if you’re the person at the top of the tree, where do you go for help? A business adviser can help you find the inspiration that drove you to set up your business in the first place, and get you back on track.
2. Have you reached a ceiling?
Maybe the business is doing well, but you don’t seem to be able to grow your business anymore. Perhaps your business grows, you find that you can’t cope, and the business has to shrink again. You’re not alone – this is one of the most common problems facing business owners. A business adviser can take an objective view on where it’s going wrong, help you put plans together to break through that ceiling, and hold you to account to make sure you keep on growing.
3. Are you afraid to take more than a couple of days off?
Is the business so dependent on you that you can’t take days off without letting customers down? Have you been on holiday and worried that when you come back it will all have gone wrong? A business adviser can help you put structures and systems in place so that whether you’re there or not, things get done the way you would have done them yourself, the same way, every day.
4. Do you feel that you’re not getting your just rewards for the effort you put in?
Are you achieving the targets you set yourself and your business, but aren’t making as much money as you thought you would? Or perhaps you don’t have the time to enjoy the money that you’re making, or even find that doing business just isn’t fun any more? A business adviser can help you to achieve your potential so that you have more money, more time, and more fun.
5. Do you have difficulty finding and holding on to the right people?
Many business owners try to recruit people just like themselves – in most cases this doesn’t work – you replicate your own weaknesses as well as your strengths. Business owners may be constantly disappointed by the quality of the people they employ, or the people get frustrated and leave. A business adviser can help you define your company culture and values, to identify the skills and attributes you need for the longer term and the type of person that will fit best into your business and complement your team.
6. Do you find your time is not your own?
In the early days you worked long hours because it was fun and because you enjoyed the work. Then one day you turn around and find your kids have grown up and your friends have moved on. A business adviser can help you with effective time management to ensure you have a good work life balance.
7. Do you wish you had someone to talk to?
Is there anyone in your business to sanity-check your boldest ideas? When it’s not going to plan, who can you confide in? Where do you go for business support? We all need someone to talk to, but when you’re at the top of the tree you don’t want to undermine the confidence of the team – meaning that being a business owner can be a lonely place. The pressure of putting on a brave face can take its toll and potentially lead to poor mental health. A business adviser can act as a sounding board, take an objective view, and help you to see the bigger picture. They will hold everything you say in confidence, offering advice in your best interests and holding you to account so that you stay on track.
8. Do you want to grow your business but aren’t sure how?
There are so many ways to grow your business – organic growth, growth through acquisition, franchising or licensing – but which is the best for you? A business adviser can take you through the alternatives to help you decide on the best approach and guide you through the steps you need to take.
9. Do you want to create a legacy for your children?
You built your business hoping that when your four-year-old grows up they’ll want to follow in your footsteps. Of course, that’s not guaranteed – they may well want to be a footballer, a rock star, or an astronaut – but if they’re already working with you in the business, a business adviser can help to provide them with the skills they need to take over your business and help you with succession planning. That way, you can retire in the knowledge that they have a stable and secure future.
10. Do you want to sell your business and do something more exciting instead?
Many business owners don’t understand how time-consuming it can be when it comes to selling their business, or how long the process will take. A business adviser can help you maximise the value of your business and minimise the length of time you will be tied to the business once it has been sold. This means you can focus on the important things like buying a great big yacht and sailing around the world, taking up kite-surfing, or just relaxing and enjoying the fruits of your labours.
A business adviser is for the good times, not just the bad
Employing a business adviser is a sign of strength. Whether you’re experiencing one of the signs above, or you want help to take your business to the next level, Mustard Advisers can help you to achieve your potential so that you have more money, more time, and more fun. Contact us today to find out how we can help.