As a small business owner, you probably have a team of advisors that include a CPA, insurance agent, lawyer, banker and perhaps a marketing guru. Some of these advisors are a necessity in the United States economic environment where regulatory laws demand that you run your small business legally and adhere to compliance regulations (e.g. pay taxes).
Jack Mencini and Adam Sonnhalter, coaches to small business owners, and as owners themselves with Maximum Value Partners, www.maximumvp.com, tackle this somewhat perplexing How Question this week on: How do I know if I have good advisors?
In this week’s June 21 episode of Dirty Secrets of Small Business aired at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM, the business coaches get fired up on how to determine if you have good advisors or are just putting up with them because you have to. The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/
Jack states his opinion that many advisors, especially lawyers have what he has defined as a “misallocated arrogance.” It’s almost like they are doing you a huge favor by even answering your phone call or taking the time 5 days later to return your call. Adam also has a short fuse for any advisor who can’t return a client’s call within 24 hours. “In this day and age of cell phones, texting, etc., why is it that some advisors ignore their clients for days on end. There is really no excuse for this lack of responsiveness,” said Adam.
In trying to determine if you have good advisors for your small business, consider these five areas to rate them:
- How responsive and available are your advisors? Do they get back to you quickly or at least in 24 hours?
- Do they look out for your best interest?
Adam shared the story of one client who went to his banker asking for an additional business loan. You won’t believe what this banker did for our client who wasn’t a customer of his! Get the full story on the podcast.
- Are your advisors honest with you?
Most business owners are surrounded by too many “yes people” who never tell the owner the way things really are for fear of upsetting the person who signs their check. This “yes person” disease can often infect advisors as well. If your advisors haven’t upset you recently, chances are they might not be the right advisors for you.
- Does your advisor present you with solutions or problems?
As a business owner, chances are you have enough people in your world who present you with problems. Advisors shouldn’t be one of those people.
- Do they really listen to you?
When’s the last time one of your advisors presented a solution that didn’t involve their services or a financial benefit to them?
If you find yourself not giving a very high rating to your advisors after going through these five points, maybe it’s time to give Jack and Adam a call. They are well connected to many of the advisors you need who will have your best interest at heart. From coaching small business owners for over 15 years and having had dozens of their own businesses and advisors, the Maximum Value Partners are in tune with introducing you to advisors who will really be your partners on your journey of continued sustainable profits and success. In many instances, Jack and Adam become your most trusted advisors in being there for you 24/7 with sound advice and great solutions to all your How Questions.
For more info on small business challenges tune into past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/ or call Jack or Adam for help with your small business challenges at 877-849-0670.
If you have a success story or a question you would like to share, email or contact Jack and Adam directly at firstname.lastname@example.org or 877-849-0670.
You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Or call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.