Categorized | Articles

The Value of Been There, Done That…

Posted on 03 March 2012

Finding the right advisor for your company can make all the difference.

 

Here’s the beauty of a top-notch advisor: They can make a big difference to your leadership team without breaking the bank. They can expand your network, fill gaps in your own knowledge, and just generally provide a sanity check.

 

But to get a good advisor, and to have a good relationship with them, you need a good fit. So what roles might an advisor play, and why might anyone be interested in being an advisor in the first place?

 

First, let’s look at some of the specific ways a good advisor can help your company:

 

Avoid potholes. Advisors who have “been there, done that” as serial entrepreneurs have seen the common pitfalls and can alert you before you even get close to falling down. This can save you a lot of grief and help maintain your positive momentum.

 

Expand your network and make key introductions. Your advisor should be willing to introduce your company to key people in his or her network. Think customer introductions, investor introductions, or connections to critical talent. Nothing beats introductions from a well-respected person in the industry. Use them wisely.

 

Serve as sounding board. A small team can’t possibly be up to speed on everything. Advisors can help fill gaps in your team’s expertise, or may know a ton about a market you’d like to get into.

 

Represent “the other side.” One of the most difficult things to do as a small business is truly understand your value to a customer. Some of the best advisors will not only have specific industry experience, but they may have worked at a key target customer. Their insights can be invaluable, their perspective on the value of your small business spot on.

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