• New Wave Accountants

4 Important Characteristics of the Right Business Advisor

Starting a business isn’t easy but with the right advisor by your side, you will make better business decisions and lead you to successfully accomplish your goals. If you hire an advisor that is incompatible, it could spell bad news for your business. You don’t want someone who will give you the wrong counsel.


To find the perfect business advisor to help you out, here are some of the key characteristics that you should watch out for.


1. Experienced at Executing


A good business consultant should have experience in executing the knowledge that they are imparting to you. Why trust the advice of someone who hasn’t successfully executed it, right? It is one thing to be knowledgeable, it is another to be experienced.


Having the experience to execute will give your advisors the knowledge of how long it takes, how feasible the goal is and other such information. Don’t be afraid to seek out highly successful businessmen as advisors. Chances are, they want to give back and impart the knowledge they have learned as well.


2. Values Their Time and Resources


When seeking a business advisor, it is important that you have a clear question they can counsel. While they do have an inclination to help, they still have important matters to deal with other than your issues. When you have a clear “ask,” you get straight to point and can build a meaningful relationship with your advisor.


If your advisor values their time, you know that they will be punctual, reliable and straightforward with their counsel. It will not only help you stay on track, but it will strengthen your relationship.


3. Aligned with Your Business Goals


Of course, you wouldn’t ask for advice from someone who does not share the same values as you. A good business advisor should share the same goals, and the same passion to meet them. If they are invested in your ventures, then they will give much more helpful advice.


Not to mention, they will work whole-heartedly with you as you grow your business. If you find someone with experience working in the same industry, it will also help to give you insight on what your own business needs to improve upon.


When they have gone through it themselves, they should give you helpful tips and spot any shortcomings from a mile away. They will help you fine-tune your business strategy in a way that will bring you more success.


4. Is Not Afraid to Disagree


That being said, a good advisor won’t always agree with you on certain matters. While you should have the same goals in mind, you should find an advisor that won’t be afraid to disagree with you.


They could play the devil’s advocate to help you assess any business-related problems from another perspective, or they could prevent you from making any risky decisions that could harm your business.


A true, good business advisor won’t be afraid to question your decisions and make you rethink strategies. Having a level-headed business advisor will help mitigate any risks and prevent your business from going under.


Conclusion


When finding a business advisor, it’s best to find what that you get along with and is able to impart the right knowledge to help you succeed. Finding an experienced mentor won’t be easy, but will be highly beneficial to your business in the long run.


Looking to expand your business? New Wave Accounting offers bookkeeping services in the Gold Coast to help you grow and scale your business. We work with you to develop business strategies based on data and analytics about where your profit goes and your business worth. Contact us today for a free strategy session.



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