Another perspective

(22 /01 /2013)

Having an outsiders view of your current situation often will highlight where the issues are and where improvements can be made.  Trying to see the issues while being down in the trenches is very difficult, sometimes impossible.  Falling back onto the blame game where it is the rest of the world that has the issue and not us is commonly the standard response.  This doesn’t explain why other businesses are running and growing profitable businesses.

What does an outsiders perspective bring?

Potentially the different set of eyes can identify the real cause(s) of the issues being faced.  This could be that the menu is too big, current location is not suitable, the menu is outdated, location trends are moving toward other offerings, pricing is too high comparative to competition, out of control costs, etc.

When should an outsiders perspective be sought?

Another key is getting an outsiders view of your at the right time.  Many people leave this go for too long before seeking the opinions of an adviser.  Often it is too late and the damage done is irreversible leading to only 1 outcome.  The answer is that the advice needs to be there as early as possible.  Even while things are going well, the views of an outsider can have an even greater impact on growth and profits.

Who to get involved?

You should be looking for an adviser that will offer you unbiased opinion based on the experience and lessons they have learned from doing exactly what you are doing.  An adviser that cares about your success and is not in it for themselves will also give you the advice you need.  Often this is not your Accountant, your Solicitor or your Bank Manager.  Their interests are not the same as yours and they don’t have the background or industry experience that you need.

Change is hard but it needs to be done.   Remember if nothing changes, nothing changes.

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