Recognising an advisor

Jason Holden has been saying plenty about how to select an accountant who will be an advisor but there's one thing he misses in my opinion. Language.

Let's say you're a builder. When talking to your advisor, would you expect him/her to know what a reduced level dig is about and the cost implications on a contract of a sandy substrate? Say you're a nursing home operator - do you think the advisor should know about spend management on food supplies? How about if you run a nightclub that has live acts - would the advisor know about gig over-riders?

If they do, then there is a fair chance that when seeking advice, you'll have overcome the first hurdle in building a relationship - speaking the same language.

There is a catch. These business specific terms and their business implications are not learned overnight. One way you could think about helping the professional advisor - yes…they need your help as well…remember we're talking relationship…is to run a blog site where you talk about the things that matter to you in business. A great example is Stormhoek, the vinyard blog for a South African winery. It's a roaring success. As is English Cut, a blog by a bespoke tailor. And let us not forget Tinbasher. The name should give you a decent clue.
Of course this cuts the other way. The professional advisor who fails to offer you insights into the profession that are useful to you and written in a language you can understand is not much good to you. Are they?

2 Responses to “Recognising an advisor”

1. Jason Holden
   http://www.holdenassociates.co.uk
   
   Said on July 10th, 2006 at 10:49 am

   Dennis, I have already covered speaking the same language in my posting (http://www.sme-blog.com/?p=133 ) where I say:

   ‘Remember, when selecting the expertise of an advisor you want a specialist that meets your specific needs, whether this is industry experience or specialist skills that will help you raise finance.’

   It has to be said though that strictly speaking Dennis not everyone needs an accountant/advisor with industry skills, certain industries certainly, for example the not-for-profit sector, anyone without the experience or skills sets and knowledge should not enter this arena and offer advice, others are medical, dentists, doctors etc again best left to the advisors who understand these areas, but a local shop or a painter and decorator etc really do not need an advisor with industry specific skills to help them, they just need one who can listen and apply their knowledge in an innovative way.

2. Dennis Howlett
   http://www.accmanpro.com
   
   Said on July 10th, 2006 at 3:02 pm

   I’m a huge fan of at least being able to say something about an individual’s industry in their language as a pathway to understading their needs. One of the most common complaints I hear is: ‘My accountant doesn’t understand my business.’

   Also - I’ve found that as a business grows, the more information is needed so the greater the need to ‘get under the skin’ of the individual and the business.

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