Questions About Working With a Business Advisor
If you’re considering working with a business advisor in Cambridge, Bury St Edmunds or the surrounding area, you may have questions about what the relationship is actually like.
These are some of the practical questions that aren’t answered on my How I Can Help page.
What Is the Difference Between a Business Advisor, Consultant and Coach?
The boundaries are not particularly clear – but the labels don’t matter very much.
A coach will generally help you reach your own conclusions by asking questions. A consultant is more likely to analyse a situation and recommend what should be done. An advisor often combines the two, contributing experience and an independent opinion while helping you think through the decision for yourself.
In practice, I move between these roles according to what would be most useful. Sometimes you need good questions. Sometimes you need a clear opinion. Frequently, you need both.
“Tim has the ability to look behind the numbers and see where the real value is. But more importantly, where that value can be enhanced and realised.”
Will You Tell Me What to Do?
If I have a clear view, I’ll give it to you and explain the reasoning behind it. I won’t hide behind a succession of clever questions when what you really need is an honest opinion.
That doesn’t mean I make decisions for you. It is your business, and you will understand aspects of it that an outsider cannot. My role is to challenge assumptions, identify things you may have overlooked and help you consider the likely consequences before you decide.
Do You Replace My Accountant, Solicitor or Other Professional Advisers?
No. Your accountant, solicitor and other specialists provide expertise within their respective fields.
My role is usually broader. I can help you frame the commercial question, understand the available options and decide what specialist advice is needed. Where appropriate, I can also help you interrogate that advice and consider what it means for the business as a whole.
I will not pretend to provide specialist advice outside my own experience or competence.
What Information Will You Need?
For an initial conversation, I only need a brief explanation of the business and the matter you would like to discuss.
If we decide to examine something in greater depth, I may ask to see relevant management accounts, forecasts, plans, organisational information or other documents. I will only request information that helps us understand the issue or make a better decision.
A mountain of reports is rarely a substitute for a straightforward conversation.
What if You Don’t Think You’re the Right Person?
I’ll tell you.
That might be because the issue requires a particular specialist, because I don’t think I can add enough value or simply because we are unlikely to work well together. Where I can, I’ll suggest a more appropriate source of help.
There is no benefit to either of us in forcing a relationship that isn’t right.
Do I Need to Know Exactly What the Problem Is?
No. Business owners often recognise the symptoms before they understand the underlying cause.
You may know that profitability is disappointing, decisions are taking too long, good people are becoming frustrated or that you are being drawn into matters somebody else should be handling. Part of my role is helping you step back, separate the symptoms from the real problem and decide what deserves attention first.
You do, however, need to be willing to talk openly about what is happening—even when the answer may be uncomfortable.
What Happens if We Disagree?
Then we talk about it.
You are not paying me to agree with everything you say, and I would not be doing my job properly if I avoided challenging you. Equally, I may be working without information or experience that you have, so I expect you to challenge my thinking as well.
A useful advisory relationship depends on both people being able to disagree honestly without making it personal.
Can Members of My Management Team Be Involved?
Yes, where their involvement would help.
Some matters are best discussed privately with the owner. Others cannot be resolved properly without involving the people responsible for implementing the decision.
We will decide who should be involved according to the issue—not because I insist on putting everybody through a standard programme.
Will Our Conversations Be Confidential?
Yes. I may need access to commercially sensitive information to understand an issue properly, and anything you share with me will be treated confidentially.
If other members of your team or external advisers are involved, we will agree what information can be shared and with whom. I am also happy to enter into an appropriate confidentiality agreement where required.
“The growth of an organisation is limited by the knowledge and ability of its team”
Can You Guarantee Results?
No – and I would be wary of anyone who did.
Good advice can improve the quality of a decision, expose weaknesses, prevent expensive mistakes and help maintain momentum. It cannot control customers, employees, competitors, economic conditions or whether agreed actions are actually taken.
The relationship should continue only while it is producing worthwhile value for you and your business.
Is There Something Else You’d Like to Ask?
If your question hasn’t been answered here, please get in touch. A brief conversation is often the easiest way to establish whether I can help.