FREQUENTLY ASKED QUESTIONS

If you are considering using a Business Advisor, these questions can assist you in making the decision to improve your business!

1. What can a Business Advisor do to help my business?

A Business Advisor provides business owners with information, expertise, tools and resources that will help them run their businesses more effectively, and profitably.  Advisors can also be used for special projects such as assisting to improve the business, or they can play a more active role, providing ongoing business advice to their clients.

2. How does a Business Advisor work?

When a company hires a Business Advisor, he/she will first talk with the business owner about their goals, challenges, and desired objectives for the program.  The next steps may include additional discussion, reviewing records, visiting the premises, and meeting with employees, as needed.  If there is a specific area of concern, the Advisor will focus on that.  At the end of the program, the Advisor will generally provide a report, and recommendations, for improving the business.  If desired, the Advisor can also assist with implementing the recommendations.

3. Do we really need outside help?

There may be times when the business owner doesn’t have the expertise, resources, or time to complete an important project.  Using a Business Advisor is a very cost effective way to identify issues and solutions, and deliver the tools, resources, and experience required to complete the project quickly. Some examples of where an Business Advisor may be used effectively include:

 •  The business is not experiencing the desired or expected results
•  Growth and/or operations are being negatively impacted by complex business issues
•  There are problems or challenges in the operation that cannot be resolved internally

4. What do we want the Business Advisor to accomplish?

Once the situation, or issue, has been identified, the Advisor can help to define the specific objectives for the project, and the results that will be achieved.  The program and results should be clear, measurable, achievable, and agreed to by all. 

5. Are we willing to fully participate in the relationship?

For a project to be successful, it it critical that the owner fully support the project, outcomes, and devote the time and effort required for discussion and review.  In addition, the owner must be open to making the changes that may be required, to achieve the desired results.  If any one of these components are not in place, the results may not be achieved, or sustainable over time.

6. What qualifications should the Advisor have?

Among other things, a Business Advisor should have long term business experience and expertise, and bring personality, objectivity, resources, and specific solutions to the client, to ensure that the desired goals are achieved. This includes helping to solve problems, identify potential areas of concern, and assisting the business to expand and grow.

7.  How much will this cost?

In general, a Business Advisor can determine the investment for a program or project after talking with the owner about the business, challenges, and needs of the business.  At the point, the Advisor will prepare a proposal that includes specific details of the objectives, work to be performed, the results to be achieved.  In the majority of instances, the final results will far exceed the investment.