Running a business can be a lonely job. It’s hard to find peers or mentors you can trust for help with your unique business challenges. It is virtually impossible just to keep up with all of the regulatory and technology changes. And then there are the people and management challenges. That’s where the right advisor can make the difference.
There are plenty of people calling themselves coaches, mentors, and advisors these days, so how do you tell the difference between someone who is good at selling (but doesn’t make a difference) and someone who can actually help you move the needle on your business? It’s a given that they should be both trustworthy and non-judgmental, but what else should you look for?
The right advisor should provide financial and operational support for your business in multiple ways:
- Education – They need to be able to explain core concepts in a way that resonates with owners and managers as well as team members at every level. It is impossible to get teams aligned behind critical metrics and measures when they have no idea what they mean or how their actions connect to those goals.
KRD’s approach: We use tools like the Profit Equation PlannerTM and Financial Fluency training to help front line workers connect their actions to overall revenue goals.
- Communication – They should be proactive communicators who provide information that aligns with different behavioral styles and presentation needs.
KRD’s approach: We use our knowledge of DISC behavioral styles and related presentation needs to display information in different ways: detailed spreadsheets, high level charts, dashboards, maps or videos.
- Automation – They should be knowledgeable and up to date on latest technologies which support financial and operational success in the business and can be applied in meeting critical business goals.
KRD’s approach: We send our teams to national technology and accounting conferences so we can stay abreast of tools and solutions as they arise. We invest in specialized training, like the Level 5 Advisory Training to make sure we are applying these tools in support of client goals.
Now is the time to take stock of your business and the way you have been operating. Are you getting the help you need to achieve your business goals? If not, it might be time to get some outside perspective. KRD can help.
