Most people would automatically list an accountant and a lawyer as the most necessary sources of advice for the small business owner. These professionals provide vital services, but there are also many other available sources of advice.

 

To get the best advice, you need to be sure that you go to the most appropriate source.

 

In this day and age where there are numerous laws and regulations affecting business, SPECIALISED advice - particularly in matters relating to financial management, marketing, taxation, leasing premises, employment of staff etc. is vital. The more experience an adviser has with your kind of business or with the issue you wish to discuss, the better able that adviser will be to provide expert advice. Therefore, before deciding on a particular adviser, you should establish that they have that level of knowledge and experience.

 

The Small Business Development Corporation and the SBC network can help you identify the kind of advice you need and can also help you access any necessary specialised advice.

 

Advisers are not mind readers To get the best from your adviser, explain clearly what you want.

 

For example, if you are considering renting retail premises you might say, "I want you to:

 

Tell me if there are any clauses in the lease that might be detrimental to the business and advise how I might negotiate better conditions.

Identify all of the costs and charges that I will have to pay as the tenant, and detail by how much each item is likely to increase for each year of the lease."

Here we have the basis upon which you wish to engage [and pay for] the services of an adviser. You know what you want, and your adviser knows what you expect. If the adviser is doubtful of their ability to deliver then they will say so and will usually suggest someone else with the appropriate expertise. A successful adviser-client relationship is based on mutual confidence and respect, and it is therefore important for you to feel comfortable with your adviser. If these elements are missing then you should seek another adviser.

 

Perhaps the hardest thing of all is knowing when advice is essential. When you have no experience, or when you are starting something new, even if you are already in business, then you probably need advice.

 

The best person to talk to is someone with specific knowledge of the matter in question, but sometimes identifying just who that person might be is not always easy. Once again, this is where the Small Business Development Corporation and the SBC network can help in the referral process.

 

Most advisers charge by the hour, and a few telephone calls will help to confirm the going rates. When you have chosen an adviser you should go well prepared as this will save time and money.

 

Take all relevant documents, and present them in a neat and tidy manner arranged in whatever order will be most easily accessed.

 

If you want advice on a contract or some other document, mark those parts of the document that are of particular concern.

 

Always prepare a list of questions, and group them under headings so that all of the questions relating to one subject are together and not scattered at random. All of these steps make an adviser’s task easier and will enable you to get full value for the fee you have agreed to pay. It makes little sense to pay $100 per hour for someone else to sort out your paperwork!

 

If your adviser suggests a particular course of action, make sure you understand why that particular recommendation has been made. Ask if any alternatives have been considered, and establish in what ways the suggested course of action will be better for you and your business. Your adviser will respect your more if you ask questions and demonstrate that whilst you may not have the same expertise as your adviser, you intend to make informed decisions.

 

Remember that an adviser works for you, and that a good working relationship takes time to develop. Like your family doctor who knows your medical history, your business advisers can provide a better service the more they know about you and your business plans.