Have an Advisor in Your Corner

Defining a Business Advisor

A business advisor, also known as a business consultant, is a professional who uses a range of developed skills to assist owners with their business endeavors. Consultants are very experienced and familiar with different aspects of business and can therefore provide clarity and direction for business owners that have less business experience.?

What a Business Advisor Can Do for You

Advisors specialize in analyzing businesses to find faults as well as solutions within the company. Business consultants can help business owners meet their goals and improve their business overall; this may come in the form of increased productivity, customer satisfaction, management solutions, etc. Specifically, a business consultant provides expertise, identifies and solves problems, teaches and trains employees, initiates change, and revives businesses.?

A business advisor tends to have three steps in their process: discovery, evaluation, and implementation.?

Discovery is the first step in business consultation. Business advisors try to learn as much as they can about the business they’re working to improve. During the discovery stage, business consultants usually tour the company’s facilities, meet and speak with employees, read all company materials, and evaluate the company's finances. The discovery process also involves going over the company’s mission and current processes.?

Evaluation occurs after the discovery phase. Now that the business advisor has an in-depth understanding of the company, they can start to identify strengths, weaknesses, and problem areas. Some of the problems might have already been identified by the business owner, hence why they hired a consultant. The consultant will propose a strategy to overcome those obstacles while also identifying other issues that may arise in the future and how to avoid them. A consultant brings an objective opinion and fresh viewpoint which can make identifying problems easier. Employees and business owners should be prepared to politely take the consultant’s feedback as constructive criticism. Maintaining open and honest communication is essential during this process.?

Implementation, or restructuring, is the last phase that occurs after the business and the consultant have agreed on a plan. In this final stage, the consultant strategically builds on your company’s assets and monitors progress.?

Consulting Firms vs Consultants?

Not only do business owners get to choose between a variety of different consultants, but they also have the opportunity to work with a consulting firm. Rather than hiring an individual professional, a consulting firm provides the option for business owners to work with the expertise and resources of multiple consultants at once. It would make sense for a large company with a big budget to choose a consulting firm and get the opinion of multiple established professionals. However, small businesses are more likely to benefit from an affordable business advisor with experience in the designated area of attention. Individual business consultants tend to be more flexible and can focus their full attention on your business, while consulting firms have extensive experience and resources.?

How to Choose the Right Advisor

When looking for the right business advisor, you should search for a professional who has background in your industry and experience solving the kinds of problems your business is experiencing. Finding a business advisor in your specific industry is plausible and will ultimately yield the best results. You should search for someone who is passionate and organized. When starting your search, leverage your network by asking other business owners or professionals if they have any recommendations for business advisors. Otherwise, you may research and read reviews for consultants online. Research is the most important step, so have some questions at hand. You’ll want to learn about the consultant’s background, experience, and qualifications. Look at their LinkedIn profile, resume, education, website, and certifications. Be sure that your potential consultant has hands-on experience that applies to your business. You should ask the consultant for their portfolio or a list of brands they’ve worked with and request references. When meeting with a consultant, be upfront about the specific problems your business is facing and make sure that the style and personality of the consultant suits your business.?

Consultant Contracts

After taking the above measures and deciding on a consultant, it’s time to draw up a consultant agreement or contract. These agreements tend to last three to six months with a renewal option. Contracts typically lay out the consulting parameters, payment schedule, fees, deliverables, and deadlines.?

Taylor Precourt, Business Advisor

I am Taylor Precourt: an experienced and driven business consultant. The success of my strategies shine through in my past projects, always leaving clients with great results. One of my most recent projects was the Grand Opening Gala for my client Priano. This project took a lot of time and hard work, but the event was a success and I can’t wait to see where Priano goes from here! My tenacity and vision allow me to help other business owners with growth and revival. As a business owner myself, I understand the challenges that business owners face and how to overcome them. My extroverted personality and passion for helping others make me a powerful business advisor. If you would like to work with me and Twelve Tables, click here . Twelve Tables is a collective of highly skilled professionals specializing in different facets of business.?