If you’re considering becoming a business advisor, you’ll want to consider the types of clients you’ll have. Are they looking to buy or sell a business? Or perhaps they need assistance converting their existing or planned business into a franchise? Regardless of a client’s particular need, we’ve found that our clients tend to share some overarching traits.
In general, business advisors help clients navigate through the ins and outs of business or franchise ownership. They might advise clients on getting a company off the ground, increasing profits, diversifying revenue streams, or the best way to buy a business. And although no two clients are alike, many of them do tend to be either entrepreneurs or small business owners.
As More Americans Go to Work for Themselves, More Business Advisors Will Be Needed
More and more Americans are considering becoming entrepreneurs and small business owners. In fact, two-thirds of Millennials now report that they’d rather work for themselves than for someone else. With an increasing number of workers wanting to strike out on their own and start or buy a business, the demand for qualified business advisors is sure to grow.
Self-Starters, Goal Seekers, and Creative Thinkers
Before deciding on a career of any kind, it’s helpful to consider the general attributes that would broadly typify your client base. In general, people who have successfully launched and operated their own businesses are motivated and hardworking. Their success is in large part due to knowing what they want and how to get it. Moreover, entrepreneurs and small business owners tend to:
- want expert advice on how to grow their company or product.
- be very busy, so may be distracted or not take the time to follow the advice given to them. Business advisors need a flexible attitude to work with clients who might change their minds quickly or forget what was said during meetings.
- create long-term plans that they don’t always keep. Unforeseen circumstances or changes can happen quickly in the business world, so what they need may change from one day to the next.
- be creative thinkers. They come up with new ideas and solutions for old problems, which is a significant part of their success in business.
Getting Them to the Next Level of Success
The most important thing for an entrepreneur or small business owner, new or experienced, is to have a roadmap to get them to their goal. They want to know how to take the next step with their business, whether getting it off the ground or turning a profit.
As a result, the business advisor’s role is critical. Their expertise will save them the time and money they’d otherwise spend in conducting a given transaction on their own. And they keep entrepreneurs on track by allowing them to focus on the day-to-day work of running their business – and, therefore, on what matters most — achieving professional success.