Small business owners who recognise that they could be more successful with some professional advice or mentoring invariably perform better than those who continue to plough their own furrow. It is the old adage – What does the athlete say when they have just one their gold medal, “It is reward for all the hard work I have put in and thanks to my team, I couldn’t have done it without them”. They have the talent, but wouldn’t have won gold without the help of their team.
The same is for all businesses. However who do they turn to? Their accountant, a part-time Finance Director, or a holistic business advisor/mentor? After all aren’t they all “business advisors”. The answer is yes, and ideally all three! The accountant will typically meet the client twice a year, the FD once day a week, and the business advisor/mentor two short sharp sessions a month.
A good accountant will not only provide all the statutory financial compliance that is needed, but also management reporting and financial and tax planning. The part-time FD will thrive on the management information provided by the accountant, interpret it, action it, formulate and implement a wide variety of strategies.
A good business advisor/mentor will have a holistic approach to helping the business owner achieve their goals. They will be a sounding board for the business owner to talk through issues; they transfer knowledge and confidence so that they business owner can grow their business themselves; they will help the business owner prioritise actions in an action plan; and they will most definitely hold the business owners accountable.
We at Mustard relish clients that also rely on a good accountant and a good part-time FD. Whether it be Business Growth, Exit Planning, Acquisition targeting or Franchising the accountant, FD and the Mustard advisor occupy three different, complimentary and valuable spaces around the business owner. How many people did Andy Murray have in his team to help him to be the first British man to win Wimbledon in seventy seven years?
Get in touch if you would like to find out more about adding to your team to achieve your goals.
Mustard – Giving successful business owners the tools, advice and confidence they deserve.
