I sometimes don’t know which hard surface to bang my head against first. There’s the one waiting next to those who, being good at what they do in business adopt an attitude of possessing business acumen in specialist areas – to which they have no experience – or, the hard surface next to those businesses who follow these expansion of service offerings like a blinkered donkey following a carrot. It can magnetise me with despair.
Whilst some advisors are well placed to give advice it doesn’t follow they have a specific expertise appropriate to a specific business type. And, the less confident a business is, the more likely they’re exposed to a non value-for-money service when there is a gap between what is needed and what is supplied.
So, when the small business owner tells me their “house is in order” because they’ve been told by their “professional” advisor – but they can’t understand what they’ve been told, or why they are doing what they are doing with their business – that’s got to be leaning towards a paradox?
Image credit: Brett Jordan Article credit: Copyright SUF 2012
It is incumbent on any business owner to conduct due diligence on their advisors and consultants, and to understand what they are being told.
Ultimately, advisory comes down to trust within the relationship…and this would include an advisor acknowledging areas where they are not knowledgable.
That being said, innovation can occur sometimes due to a “fresh look”, so sometimes deep expertise is not advisable.
Thanks!