I hope the answer to this question is yes. I know Suzanne has the most to lose if I decide to make a really boneheaded move. She might not have the same technical knowledge as others. At the same time she is more likely to ask me tough questions I need to answer.
The United States is the home of the rugged individualist. Or is it?
If you’re a business owner you’ve had to fire employees. I also bet you’ve had to fire an advisor. You might not think of it as a firing, but it is. You’ve decided you no longer want to work with an advisor, a consultant, or a coach. I believe it’s just as important to fire an advisor using the same principles as firing an employee.
Should you give you advisor a warning?
The difference between the two is really pretty simple. Consulting is figuring out what you want to do and how you’re going to get there. Coaching is helping you figure out the steps and keeping you focused on why it’s important for to achieve your outcome.
The challenge isn’t knowing the difference, it’s executing on both so you get an outcome for the time, money, and effort you spend. Let’s face it, you’ve had lots of experiences with consultants and you might even have had an experience or two with a coach. I bet that most of the time they’ve been less than satisfactory.
If you own a business you may or may not have a board of directors or a board of advisors. If you don’t you’re missing a great opportunity. The perspective that outsiders bring to your company is one that will add value to your company’s results.
Even more importantly who’s on your personal board of directors? Do you have a group of people who help you make decisions about how to get the most out of your life?
I spend a lot of time at professional meetings. Often there ends being a conversation at some point about “client control.” This is where professionals sit around a debate who should control the client relationship and what profession is best positioned to do so.
Every time I listen to one of these conversations I’m first annoyed and then repulsed. I don’t know about you, but having anyone talk about how they’re going to control someone makes no sense to me. Our job in the advisory business is to not control you, but help you discover what you want and then develop strategies with you to get an outcome you desire.
If you own a business you need to have method for identifying, hiring, and supervising professional advisors you hire. I believe the following points are important.
I find that anytime I write about ways for business owners to back off and make their businesses more valuable the topic of exit planning seems to come up. It’s not that I dislike exit planning, I just find it interesting that advisors often think that activities that make a business more valuable are done to get the business ready to sell.
I find that most business owners don’t make their businesses more valuable because they want to sell them. You make your business more valuable because there is a certain amount of fun and profit involved in making your business worth more.
People who are good at things tend to have strong egos. They understand that they can provide results that many others are not able to produce. At the same time many times those with strong egos are difficult to be around.