What makes a good business advisor?
- February 2024
Are you in search of a business advisor, like me, to help navigate tough industry challenges? If so, it’s only fair that you know exactly what makes a good business advisor – amongst the sea of experts – all claiming to bring the real results you’re after. I’m here to explain the business consultant skills that every advisor should possess. Plus, the kind of attributes that are essential for providing valuable guidance.
What is a business advisor?
In a nutshell, they act as a professional guide – offering expert advice to help businesses…
- optimise performance and reach higher revenue targets
- tap into new markets and grow an audience
- streamline operations with new digital technology
- make informed project management decisions
- improve workforce and people management
- and more.
When teamed up with business owners and managers, it is an advisor's job to offer recommendations and insights across various aspects like financial planning, goal setting, and industry operations.
Think of business advisory as a form of real-world knowledge-sharing. An advisor is a trusted partner who uses their first-hand experience to assess a company’s current situation and identify growth opportunities through know-how and expert decision-making.
5 essential business advisor skills
Now for the particulars…what makes a good business advisor?
Industry expertise
The best advisors understand market trends, have an eye on competitors, and know industry regulations and best practices inside out.
An analytical eye
What I mean by this is knowing how to analyse data/information and draw meaningful insights to use to your advantage. In other words, the best advisors identify patterns and gaps to gather evidence, measure results – ultimately improving performance. It’s a vital advisory skill.
Top-notch communication
Business advisors are great listeners. They are full of empathy and have the interpersonal skills to build trust and good rapport with their clients. The more an advisor can connect with you on a deeper level, the more effective they are at collaborating and tailoring their offerings to your specific needs.
Remember, the relationship shouldn’t be transactional – but completely transformative.
Problem-solving skills
Knowing how to stay calm under pressure is key to problem-solving – and that’s exactly what sets the best advisors apart. Along with a flair for critical and creative thinking, having that natural inclination to tackle challenges head-on means they can help you navigate even the most complex challenges.
Networking skills
Last on my list of business consultant skills: networking! A good business advisor has already-established connections with key industry players and is willing to use these relationships to open doors for their clients. Effective networking goes beyond just knowing people: they see a potential partnership before anyone – helping you stay actively and meaningfully engaged in your industry community.
Advising you to greatness…
If you’re currently looking for business advisory services from an expert who has already been through the grind and earned the stripes, take a look at my consultancy offerings.
Whether it’s to transform your ongoing operations or you’ve an upcoming project that’s causing you stress, my business advisory services can ease the burden and put plans into action.