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Schedule a 30-minute call with Erica Gilson, Chief Operating Officer, to discuss how True North M&A can assist you with your exit strategy or acquisition plan.
Erica Gilson
Chief Operating Officer
Available 8 am to 5 pm CT

Business Planning: Why You Should Hire a Business Advisor

True North Mergers & Acquisitions

April 28, 2023

If you’re a business owner, you’re probably self-employed for a reason—you have vision, drive, a DIY spirit, and an innate desire to succeed on your own terms. Despite your experience and talent, every entrepreneur has limitations, which is why you should consider hiring a business advisor.

From helping you scale and avoid burnout to ensuring you secure a more stable financial future and plan for retirement, here’s why every entrepreneur should hire a business advisor.

Achieve More Independence and Stability

You may not have plans to step away from your business, but when you build a venture that grinds to a halt in your absence, you introduce serious risk to your business, employees, and your own financial future.

Thriving businesses operate independently of any individual—even their owners. But making that happen takes strategy and expertise. That’s where a business advisor comes in.

A business advisor can help you implement a strategic plan where processes, systems, and roles can be implemented or improved to create a more independent and scalable operation.

In short, a business advisor will help you build a venture that does not depend solely on you.

Secure Your Financial Future

Many business owners make the mistake of assuming they are more prepared for retirement than they actually are. This is where a business advisor comes in handy.

A solid business advisor can analyze your current financial situation, projected income, and potential risks to create a personalized retirement savings and investments roadmap.

A business advisor can also help you assess the value of your business, explore options for selling or transferring ownership when the appropriate time comes, and facilitate a smooth transition that aligns with your retirement goals.

Gain a Fresh Perspective and Objective View

Business advisors are not entrenched in the day-to-day operations of your business. They aren’t friends with your employees or managers and are not biased by any personal attachments to the business.

You have a lot to gain from that fresh, detached perspective.

A business advisor brings an external viewpoint, which allows them to assess the business objectively, identify where there are gaps, and offer fresh insights you may have overlooked.

Set Long-Term Goals and Achieve Them

Most entrepreneurs have goals, but these goals are often vague and unquantifiable. And that makes achieving them tricky.

A business advisor can help you set specific, measurable, achievable, relevant, and time-bound (SMART) goals. Next, they’ll help you break down these long-term goals into actionable steps and milestones, creating a roadmap for success.

A business advisor can also help you set key performance indicators (KPIs) and implement systems for tracking and measuring progress. This ensures you make data-driven decisions, take corrective actions when necessary, scale, and achieve your long-term goals.

Access Our Experience to Achieve Your Goals

Whether you want to set long-term goals, scale your business, or build an exit strategy, our experienced business advisors can help. With decades of experience and a track record of successful mergers, acquisitions, and growth, we have the expertise to ensure the long-term success of your business. Contact us today!

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