Why You Should Hire An Advisor When You Start Your Business

You have an amazing business idea and you’re ready to bring it to fruition. You’re eager to get it up and running as quickly as possible because you’re convinced it’s going to be a hit. You don’t have much business acumen, but you’re confident that you can make it work. You don’t think you need professional help.

Are you sure about that?

The numbers vary, but somewhere between 60% and 90% of businesses will fail within the first five years. Approximately 20% will fail in the first year. These numbers aren’t favorable. 

Being a successful business owner requires a lot of determination, financial acumen, and strategic thinking. You have to beat the odds. Even if you do have a great idea, it’s a good idea to consult with professionals so you can be sure that every element of your business is on the right track. You don’t have to turn into an accounting or finance expert overnight, but you should get the expertise of someone who is. 

Getting professional advice gives you access to invaluable information that is relevant to your particular circumstances. You can get help navigating tricky situations, be warned away from common mistakes, and catch small problems before they develop into larger ones that could topple your business. There are many nuanced fields within a single business (marketing, hr, finances) that each require specialized knowledge to operate at their best. You can probably develop enough of an understanding of them to get by when you start your career as an entrepreneur, but you’re doing a disservice to yourself and your business.

Without an experienced advisor you may overlook key factors that are integral to your success; fail to make a successful plan; rely on ‘gut feelings’ to make decisions rather than on data that would point you in the right direction; combat issues like cashflow shortages; pay too much in income taxes; have issues accurately projecting profits and start a business that isn’t feasible. The list goes on. As a business owner you’ll likely encounter challenging situations over the course of your career, but there’s no need to make it unnecessarily difficult from the start. Getting an advisor can help put you on the right path so you can avoid some common pitfalls and focus instead on success and growth. 

At GEPC, we offer a variety of advisory services to meet your needs. We’ll make sure you’ve got all your bases covered with our new business consultation, will help you market your most profitable offerings with our strategic marketing service, and can teach you how to manage your cashflow with our cashflow management coaching program. You want to be a successful business owner, and we want that for you as well. Allow us to help. We offer discovery consultations so we can determine your needs and develop a tailor-made plan just for you. 

Even though you’re not a business and finance expert, you can start your business with a strong foundation that will facilitate growth in the future. Feel confident in your decisions and in the future of your company. 

You can schedule a free consultation at gregevans.ca or (705) 880-2224 to learn more about what we have to offer. It all starts with a conversation.