Many of our clients at fi-Plan Partners are involved in a owner managed business. We can offer our clients business consulting in many areas because we are a owner managed business ourselves.
One of the biggest challenges for a business owner can be maintaining control of their business without limiting the product or service. Here are three steps that you can take to help you get better control of your business. Each of these steps is an effective way to get better control of your business, bring down your anxieties, and increase your quality of life.
The first thing you can do to get better control of your business is to have a good professional advisory group. You will need a CPA, an attorney, and a commercial lender. Each of these professionals needs to have a good understanding of owner managed business so they can help you navigate through the issues and concerns that go with their area of expertise. We organize these professionals for our clients and even refer them to quality professionals if they are in need.
The second thing you can do to get better control of your business is to stay on top of the changing business models in your industry. Most business industries change over the years. For instance, the news and health industries have changed drastically over the last few years. Your industry might not have such major changes but even the slightest change or trend can cause you to have a hard time keeping control of your business.
Thirdly, successful business owner executives get better control of their business by being willing to ask for help from their professional advisory group (See above). Each professional in this advisory group wants yourbusiness to succeed. They should be delighted to consult with you as it will create a win/win situation for each of you.There are many other steps you can take to get better control of your business, but these are an excellent starting point. Do you have any questions or would you like to receive business consulting from us? Please leave a comment below, email here or call me at (205) 989-3498.
Ashley Page, JD, MBA
Senior Vice President
fi-Plan Partners is an independent investment firm in Birmingham, AL, serving clients across the nation through financial planning, wealth management and business consulting. fi-Plan Partners creates strategies in the best interest of their clients using both fee based investing and transactional investing.