02 Jan, 2018

Needed Advisors for Starting a Business

Becoming a business owner can be one of the most rewarding experiences which can offer you more time, flexibility and financial stability. But before getting the advantages the process of actually starting a company can be tough, stressful and complicated. That’s why, hiring the right business advisors is absolutely essential for your success.

Receiving support, suggestions and new ideas regarding your business could change the whole trajectory of your company. That’s definitely where an experienced advisory board comes in and helps you when it comes to choosing investors, partners or even staff.

Unfortunately, very few entrepreneurs really have what it takes to build and sustain a business based only on their experience. Often times they get overwhelmed about the difficulties and prematurely abandon a promising company.

According to a study, 60% of company owners have never hired or even met with a business advisor, while quite few of them have established a plan for future market transformations.

A team of committed advisors can help you override challenges and improve your success when you need it most. Basically, it’s an inexpensive way to add more value to your company.

 

But before we find out more about what type of professionals a competent advisory board should include, let’s take a look at how we should actually choose the people we want to have on our company’s team and how to properly manage them.

 

Thoroughly investigate their backgrounds

When hiring any new employee, carefully investigating their backgrounds is a key aspect. Individuals who have plenty of financial and business experience are definitely the best choice. Previous job stability should also be one of the most important things to look at before deciding to hire someone.

 

Clear expectations

Always inform your team of your expectations from the start. They should know their responsibilities and this way you won’t get any surprises. Discussing confidentiality and availability even from the start can save you a lot of time and money.

 

Create a manageable team

Instead of hiring more people, only choose the ones who fit your business model perfectly. That way you’ll only have quality advisors and won’t be overwhelmed by the fact that you can keep track of their work and progress.

 

Have regular team meetings

Although you may feel that you are always running out of time, having regular meetings especially with your advisory board could influence the success of your business more than you think.

 

 

Benefits of an Advisory Board:

·         Cost savings

·         Solid second opinions

·         More experience behind decisions

·         Varied up-to-date expertise

·         Time saving

·         Improved profitability

 

 

Now let’s cut to the chase and see who we really need on our team:

 

A Financial Advisor

Critical for your business’s income, a financial advisor can help you foresee different trend changes, while developing a long-term financial plan. Your company will be ready to find new funding opportunities, allowing you to take control of your business’s plan.

You will definitely save precious time and money, because complicated tasks will be taken care properly quick and sure. It will be easier to monitor your brand’s expenses and predict future income.

Last but not least, an experienced financial advisor will help you focus on the actions that will get results, making your company much more profitable.

 

A Qualified Accountant

Even though most people use accountants once or twice a year, hiring a permanent accountant will definitely make your life simpler.

Accountants are actually crucial in various stages of your business’s development. They will give you a hand when it comes to loan applications, growth transitions and many other different financial tasks.

If you’re thinking that hiring an accountant is going to make your company lose money, think again. Instead of spending time on various detail oriented tasks, you could focus on other aspects of your business’s growth.

 

A Marketing Consultant

When it comes to the success of your business, advertising is an essential step. Hiring an experienced advertising consultant will get you in the spotlight and substantially propel your income.

A good strategic advertising campaign can really do wonders for a struggling company and get it on the right track. A marketing consultant will use the latest technology in the industry, while bringing new trends in the industry to your attention.

Effectively using social media, corporate branding and access to a variety of digital marketing tools are only a few of the advantages that you’ll be getting after hiring a professional.

 

An Attorney

By hiring an attorney who has vast business experience you’ll be completely taking care of the legal aspect of running your company. Whether you have different issues with your employees, structuring your business or negotiating a contract, having an experienced attorney by your side you make your job a lot easier.

The support that an attorney can provide your company is immense, making the lawyer a business’s closest friend.

 

A Copywriter

Regularly publishing great fresh content on your business’s website is an excellent plus. Keeping your customers engaged and even communicating with them through this content will definitely improve your sales.

A copywriter will be able to ideally capture your company’s services and improve your marketing strategy through persuasive content. This way, your brand’s website will become a real marketing tool that will drive more traffic and attract more potential prospects.

 

A Human Resources Advisor

Issues with employees will never cease to exist, that’s why a human resources expert is highly recommended for any company that’s ready to thrive and achieve its growth potential. Hiring the right HR advisor will improve a business’s relationship with its clients, resolving many problems like the inability to keep employees and missing out on the right individuals that could be of great value.

After choosing potential employees, HR consultants usually provide them with training suitable for your company. Their performances will constantly be evaluated.

Regardless of their size or industry, companies should acknowledge that HR plays an important role when it comes to stability, acting as the middleman between management and the employee.

 

 

 

Finally, hiring a team of professionals business advisors will not only bring tremendous benefits to your company, helping it considerably grow, but you’ll also be able to see how your schedule will clear up more and more, while your business will thrive like never before.