If you’re an entrepreneur or starting out in business in Nelson and Marlborough, you could find things are a little lonely as you take your first steps. But the great news is you don’t need to take those steps alone, you can receive the help and guidance you need from a business advisory board.
A committed business advisory board can be a real boon for your business, here are 5 key benefits:
- You’ll gain clarity – A well selected advisory board will challenge you to take a step back from your business occasionally, encouraging you to think clearly and objectively.
- You’ll be inspired – Select the correct mix for your advisory board and you’re guaranteed a creative think tank on tap. Board members will offer new perspectives, opportunities and solutions that can help propel you to profitability.
- You’ll build your reputation – When you’re not going it alone, you’ll be surprised how your company’s reputation and credibility in the market place will grow.
- Your bank will ❤️ you for it – Financial institutions are often reassured by the presence of an advisory board, especially if you’re looking for business financing.
- You’ll meet the right people – Networking is a huge advantage to any business; and you’ll be able to tap into your advisor’s connections… Now that’s great value!
If even the idea of building your business advisory board sounds daunting, we have 3 tips to ensure you get it right!
- Fill your knowledge gaps – Find people who who have the experience you need. If you’ve never owned or built your own business before, find people who have. If your business can’t accommodate a full time Chief Financial Officer, find someone who can offer sound financial advice. If you’re changing direction in business, find an advisor who has experience in that sector. At Johnston Associates South many of our Chartered Accountants have real commercial experience in various business sectors, it’s why our business consulting division works so well for our clients.
- Don’t rely on the yes men and women – Friends and family can only give you so much advice. Firstly they may not have the expertise you need, and secondly they might not want to tell you when an idea or plan is, for want of a better word… Pants! At Johnston Associates South, we want your business to succeed, so if you decide to work with us as your business advisory team, you can rest assured we will always be honest, open and frank.
- Get the most out of your meetings – You’ve invested in an advisory board, now make sure you get a great return on your investment. Prepare for meetings well in advance. Choose a site that is comfortable and free from distraction. Experience has shown us that many start up businesses in Nelson and Marlborough, aren’t always equipped to conduct meetings, that’s why we are. We provide you, our clients, with the board room and all the equipment to ensure you get the most from your business advisory meetings.