01 Oct Why Business Advisory Is Important For Your Startup
What is Business Advisory?
When you think business advisory, what comes to mind?
Several entrepreneurs that I discuss with often conclude that business advisory services are for the big brands. It’s quite hard to realize that even in 2018, most entrepreneurs do not understand that there is a need for business advisors to help maximize the potentials of their small company.
Business Advisory is basically the offerings of services focused on strategizing for the success and growth of a business.
Why do you need Business Advisory?
As a small business owner, you need business advisory to grow and scale your business, to make crucial decisions and to know your business direction.
Business advisors often do a lot of coaching to help guide you on what to do as a business and what not to. You will be surprised at how many things you had taken for granted or you had assumed was not necessary for your brand.
A few days ago, I sat in a meeting with a team of business advisors and while we were discussing about a business industry that I assumed I was sort of an expert on, I realized that not only did I know nothing about this industry, it was going to be difficult to help such businesses develop marketing strategies, a key function that I do for brands.
Having a vast knowledge about an industry is a major quality that business advisors have and you, a business owner or say an investor doesn’t.
Asides coaching, business advisors serve as your long-term thinking partner. You might have already developed a growth map for your brand and probably imagined where you want to be in say, fifteen years. A business advisor helps you develop smaller goals to ensure you stay on track of meeting that fifteen years goal that you had set.
They are like our secondary school guidance counselors that understood that if you wanted to study Law at the university, you need to pass “Government” as a subject in your Senior WAEC exams.
Business Advisors understand your brand values and will help you create strategies to ensure that at no time do you de-prioritize those values. They are sort of like mentors who ensure that your brand is successful in the end. In case you don’t know, your brand’s success is also theirs because they can leverage on yours to help others grow as well.
I help small businesses and startups develop business strategies such as; Digital and Traditional Marketing Strategy, Branding Strategies, Online Advertising, Social Media Management, Tech Services (web development, mobile app/product development, web apps), etc.
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