The majority of businesses grow and develop off the back of the inspiration and drive of one or two people. Striking off into the unknown is part of the journey and the freedom of reactive, independent decision-making can be beneficial. Striving in isolation, defining new methodology, problem-solving on the fly – these are all in a day’s work for new and developing businesses. But this approach will only allow so much progress.
Solo circumnavigators use skilled support teams before, during, and after the event. They don’t invest time working out the weather they’ll be facing in 24 hours with chart and barometer, instead using expert weather services, with access to massive technical resources.
If your strong suit is the sales or operational end of your business, that’s where your time is best invested. Building a team to fill the other roles makes sense but, whether you’re running an SME or a super fund, it’s rarely viable to have them on your payroll.
Whether dealing with operational management, developing a strategic plan to carry your business onwards and upwards; contemplating a takeover; or working on a long-term exit strategy, enhancing your team with experienced advisors is a sound investment in the future.
The benefits of bringing a holistic understanding of risk, business, financial and tax impacts into everyday decision-making multiply over time. Year-end accounts provide an opportunity for past performance analysis but they can also provide an understanding of what can be achieved in the future, combined with the right guidance.
Taking a proactive rather than reactive approach inevitably leads to better results and better risk management. Without external input, it’s easy to become trapped within barriers of our own creation. Experienced advisors can open a broader view to dissolve barriers and enable growth planning, strategy implementation and embed good risk management practice.
If you would like more information or to speak with a trusted NKH Knight business advisor, please don’t hesitate to contact us on 08 9367 8133.