Over the years, I have countlessly witnessed firsthand the damage that can be caused when someone gets the wrong advisor to help them fix the problems with their business. Yes, the scenarios may vary, and a few details may be different but the story is pretty much the same. This usually happens when the advisor tries to twist a problem and force it into something that would fit their understanding and expertise – I understand this but regrettably, this doesn’t always work. They spend too much time and energy heading down the wrong path which ironically just leads to creating more problems.
I have handled numerous engagements from a large number of solicitors and accountants over the course of my professional career. I found that the best type of advisors that any business could have are those who have a clear understanding of their limitations and possess the ability to recognise expert advice from others. To put it simply, you wouldn’t go see a vet to get a diagnosis on your health problem, you would go to your GP. One would then expect your GP to send you to see a specialist depending on the nature of the issue – business is no different.