What is a Business Advisor and what do they do?

Maximum Solutions Consulting Ltd.’s Business Advisor London, works with clients to solve problems.  This includes; strategic, planning, organisational and other business or operational related problems.  If you’re a startup or a small business in London and you are looking for some startup business advice about how to find a Business Advisor / how to choose a Business Advisor, read on.

It is important to understand that there is a distinct and clear difference between business advice (business advisory services) and business coaching:

Business Advisors

Provide answers to current business problems (including pre-start-up planning and organisation), whereas a Business Coach does not.  The primary goal of a Business Advisor / Business Consultant is to help clients develop, improve and/or grow their business.  They do this through providing specialist business advice, which solves problems.
Typically, a Business Advisor / Business Consultant has specialist, professional expertise in a specific area(s), which enables them to provide recommendations and solutions to solve such problems.

Business Coaches

Concentrate on you and your future professional goals.  Business Coaches do this through challenging you and asking questions.  This makes clients: Think and whether or not it’s Helpful, Inspiring, Necessary and Kind.  Ultimately, the goal of business coaching is to help clients come to their own decisions and answers.  A Business Coach does not need to be a specialist in the client’s business sector or industry, since their role is to guide and support, not offer or make decisions on behalf of their clients.

Before finding a Business Advisor London

The right Business Advisor can make you and your business more successful.  Deciding to hire a Business Advisor is an important decision.  You will want to do your own ground work first.  This includes identifying the area(s) you want advice on.  I cannot stress this enough, and that is the importance of also doing your own due diligence (i.e. research) carefully.  Do complete thorough research before making a decision on the organisation and Business Advisor.  Check Terms of Business, Terms & Conditions and other relevant policies, including fees and cancellation policies carefully.

The important questions to ask yourself are:

  • What made you think about getting a Business Advisor in the first place?
  • Do you understand the difference between the services provided by a Business Advisor and Business Coach?  i.e. are you looking for answers and solutions to problems or are you looking for guidance and support?
  • Have you worked with a Business Advisor before?  How was that experience?
  • What area(s) do you want business advice on and why?
  • What are you expecting to achieve through paid business advisory services?
  • How much will it cost and what are the cancellation and other policies I need to be aware of?  Obtain a quote and proposal before proceeding, so that timescales are also defined, along with fees.

About Business Advisors / Business Advisory Services London

First and foremost, advisors tend to be specialists in a particular area and/or industry.  You will want to choose one that is right for you and your specific business needs.  E.g. are you looking for accountancy related advice, business operational or process improvement advice?  Maybe you want to know how to set up a start-up or is it something else?

Just because you’re thinking about getting some business advice, doesn’t mean you’re a failure or broken.  Advisors help clients and businesses become more successful. Ultimately, choosing the right advisor, one with professional expertise, relevant industry and sector experience, can help business owners, leaders and managers resolve business problems and challenges.  In turn, this facilitates business development, improvement and growth, which sets you and your business up for success.

Where do you find the right business advisory service for you and your business?

First and foremost, use your network and start with peer referrals.  Generally, they’re a good place to start, but don’t stop there.  It’s important to weigh up all the benefits and drawbacks.  Plus, remember to compare these with a general online search.  Before proceeding, and much like you would if you were booking a holiday or hotel, check reviews and star-ratings.

Whilst a trusted recommendation from peers or a networking group could be the better option, it doesn’t mean it’s a full-proof solution.  It also doesn’t mean it will meet your specific business need(s).  As much as we are different, with different wants, needs and ways of working, so too are our businesses.

Equally, if you search online, business advisory organisations and individual advisors that appear at the top of a search, including the prioritised adverts, do not necessarily mean it’s the best business advice for you.  After all, many of those paid to get to the top of the search engine list because they have the resources and finances to do so.  e.g. through Search Engine Optimisation (SEO) strategies and large marketing budgets.

Find a Business Advisor London

If you’ve never had a Business Advisor in London before, but need some expert, professional business advice, now is the time to find the right business advisory service and advisor for you.  It’s a sign that you are passionate about your business idea and plan and/or care about ensuring your business is more successful.

It is important to understand what an advisor offers, their expertise, skills and experience.  Listen to their advice, but choose the right business advisor for you and your needs.  Remember, ultimately you have the final say on the decisions and/or plans you make.

Choosing the wrong advisor can be a costly experience and it is important that you trust yourself as much as the business advisor you decide to work with.  For example, if you have a clear vision, but your advisor doesn’t understand it or listen, following their advice could be damaging.

The wrong advice could be financially damaging to your bank balance and business.  As a start-up, this cost comes out of your own personal pocket, savings and/or a loan.  With this in mind, you want and need to find a Business Advisor London that is effective from the day you enter into a contractual relationship with them.  From the beginning, a good advisor will add value and demonstrate a return on your investment.

The right Advisor who walks their walk and talks their talk

It’s important to make sure if a Business Advisor demonstrates that they walk their walk and can talk their talk.  You can do this by regularly checking their website to see if they write relevant posts, blogs and/or articles.  i.e. to see if they reflect their online brand and what they say they do.  Try to choose a Business Advisor who shares high quality insight, posts videos, tips and information, which is relevant to your needs.  Give them a call to get an initial feel for things.

Finally, when choosing a Business Advisor, meet with them first and before agreeing any services.  The initial connection and relationship between you, the entrepreneur and Business Advisor is as important as their knowledge and expertise.  Without a good connection, how can you respect and trust their advice?

As an entrepreneur myself, I’ve come to realise that it’s about trusting my own instincts, listening to my gut and getting a good feel for things.  Make sure yours and your advisor’s values are aligned, not just from a business perspective.  If they’re not aligned, the business advisor probably isn’t right for you.