Business owners are often advised to “work on their business and not in it” if they want to grow their profit and develop their people. Owners know that to do this they need to spend more time analysing and planning and less time on operational issues, but still find that they are doing tasks others could do. This leaves them little time to step back and take a long-term view of the future of their business.
There are many reasons why this situation develops, but regardless of the cause, the result is predictable. The business stagnates through lack of innovation and although it may continue to trade profitably for some years, eventually it becomes vulnerable to adverse market conditions.
Want to Grow Your Business but Don’t Know How?
Many of our clients were in this situation when they first came to us for advice on how to break this cycle. Along with providing accounting assistance, at Carbon Group our clients can also access the skills of a business advisor to help them take their business to the next level of income, profitability and market share.
A business advisor gives impartial, independent advice to clients about a range of issues that they may have intended to look at, but somehow have never found the time to seriously consider. We have found that business owners often have a vague, long-term future vision in their minds, and sometimes a brief outline of a plan. Without the time to work on it, or in many cases, the specific skills needed to examine all the necessary factors, it remains undeveloped.
Outside Advisors Give Impartial Advice
This is often the point where clients ask for our assistance to bring their vision to fruition. Sometimes the process can be quite challenging for them. We use the information about their business to ask questions that are often difficult, especially when a course of action that seemed a good thing at the time has adversely affected their reputation or profitability.
Planned Approach Needed Now – To Delay could be Costly
There is really no optimum time to involve a business advisor. Waiting for the business to grow to a certain size, for example, could result in the business not growing at all, if there is no planned approach to expansion. Any business at any stage will benefit from an external and independent eye peering into its internal workings, asking questions and challenging the status quo.
We understand that for business owners, being under scrutiny by an outsider can be uncomfortable, but the benefits will far outweigh any initial negative feelings. It really is a case of not seeing the wood for the trees for owners working in the business, instead of on it. Our staff members at Carbon Group are professionals who know how to work with business owners to get the best result.