Article by Michael Todd, Business Advisor, Western Sydney Business Centre

Every business owner faces challenges and every business owner could use help with some of those challenges. A Business Advisor’s role is very similar to that of a sporting coach. They coach a team of sports players and advisors coach small business people.

While the players are on the field playing to win, the coaches are on the sideline watching every move and finding ways for the champions to perform even better.

Any new demands from the coach should help improve performance and results of players. It is the same for small business people. Performing within their existing capabilities will only maintain the business the way it has been. Improvements to the business can only come through advice and a change in behaviour from the owner.

The following are benefits of having a business advisor:

Support – We truly think about our clients constantly. It helps to have someone who is in your corner and who is focused only on you and your needs.

Discipline – You want to be accountable to someone impartial.

Ideas – One good suggestion and it often pays for itself, and that is just the start.

Better decisions and process – Over time, it greatly improves the quality of decision-making. That is what it’s all about, constantly making better decisions.

Being more strategic – To help business owners see things from a broader perspective, be more strategic and make fewer mistakes.

Faster learning – A business advisor is there to shorten the learning curve.

Ongoing development – A business advisor can also give you access to a variety of specific skill sets at low cost, help you anticipate risks and create new networking opportunities

Peace of mind – It can help you sleep at night knowing a business advisor is comfortable with the direction your business is heading.

Our business centre sees over 1,400 businesses a year and I see the same situation often. Your advisor has to specialise in identifying ways to improve performance of your business, encouraging continual improvement. The way I see it, the knowledge of the ‘game’ and the position on the sideline ensure that clients who use the advice will be winners of the future.