Growing Your Business with the Help of an Advisor: A Case StudyPosted: July 7, 2015
Being your own boss can be one of the most rewarding career paths, but without a doubt, it can also be the most challenging. Regardless of the size of the business, the leader at the top is not an expert in everything; it has been my experience that they are experts in a field. This means that there are many questions – operational, HR, financial, marketing, sales, and strategic questions – that will need answering.
A few years ago, I met a business owner in the creative field who wanted to grow his business from a home-based operation with no employees to a fully functioning business with a team of dedicated staff. This was something he had been struggling with and didn’t know how to achieve or whom to ask for advice.
Through our discussions, it quickly became clear that in order to truly make changes for a lasting and successful business, this creative entrepreneur needed a business strategy and resources. The owner and I established a series of meetings over the following months to create and detail the business strategy including goal-setting, creating a framework for the business; establishing what services will be offered to maintain and grow the revenue, creating pricing models, and examining additional product lines.
While developing the strategy, we also began planning for the resources needed to implement, support and drive the strategy including assessing locations, rental costs, reviewing staff requirements and duties, bookkeeping and accounting needs, invoicing systems, phone and internet systems, and IT support and back-up.
Once he executed on our strategic and resource planning, his business has not only grown, but is thriving! This business owner is typical of the entrepreneurs I see as a business advisor, where they have a clear vision of what their business is and where they want it to be, but what they need is the proper strategy, resource planning, and business advice to help them realize that vision.
Just as “two heads are better than one”, achieving success and reaching your goals often requires expertise beyond your own skill set. Calling on a business expert will help ensure your business needs are calculated and understood so that your business results align with your vision.
Do you have a business advisor or coach? How valuable have they been in helping you grow your business? I look forward to a lively discussion!