Step 4: Engage Good People - Part 2

Advisors


Accountant, Lawyer, Bookkeeper, Financial Planner, Business Coach – these are some of the advisors that you will need to work with in running your business and when hiring an advisor it is important to do some homework first.

The same goes if you have hired these advisors already. Review their performance and check it against a measure of what you can determine objectively, you need from them. You may want to work through this with an outside party to clarify your issues.

When choosing an advisor, make a list of things that you expect from them. Determine which ones are ‘nice to have’ and which are ‘must have’ and interview the advisor with this list in mind.

What are their service commitments? How will they bill you? What can you rely on them to proactively tell you about things that you might need, but not know to ask for?

What are your commitments to them?

If your accountant needs something from you then you need to commit to make it available.

Are you going to consult with them before you go and make decisions around large financial commitments?

Are you going to pay them on time?

Don’t expect good advisors to stick with you if you are a poor client. If you are a poor client and they do put up with you … then you probably have an advisor that isn’t doing the job that you – or the business – needs.

Your advisors need to be held to some account, (as you do!) and you need to maintain some accountability to them so that what needs to be done, gets done and in timely fashion.

Your business coach is another who will be in a position to understand your business through your eyes, and from an outside view. Over time through helping you with your goals and project implementations and direction meetings, they have a depth of knowledge of your business that is grown over time and an external perspective to give you the inside scoop on what your business really looks like from inside, and from outside looking in.

This is a powerful asset for you and why finding the right coach with a fit for your values and frank in their discussions with you is so important. No ‘yes’ people and you want to maintain that relationship with them over time as the need arises. The cost for both of you to learn so much about your business should be considered and that relationship kept in good shape to leverage that investment already made in time, money and acquired learning, by you both.