How Do I Develop as a Business Advisor?

Start with your strong suit – and expand from there.

Business advisors are tasked with the complex assignment of navigating the business strategy across various divisions:

  • Management
  • Operations
  • Marketing
  • Sales
  • Recruitment
  • Technology
  • Legal frameworks
  • Finance allocation

Of course, no man can single-handedly direct all activities flawlessly. The horizontal understanding of how a business operates is a necessity, understood best by advisors with multiple businesses or several executive jobs over the years.

So business advisors focus on their core skill set, considering the contextual parameters of the remaining segments in the equation.

I have recently published an article on the 11 types of business advisors which can help clients choose the right type of advisor to work with, as well as guide advisors which niche or specific category to profile in.

If marketing is what you’ve done for a decade, support your client with mind-boggling marketing plans and KPIs. Apply recruitment know-how in assembling a team required to get the job done, with the financial parameters (ballpark) for most positions. Explain how tech enables conversions through marketing automation or analytics. Prepare an action plan for the first month, quarter, year.

You may also explore other fields or learn to acquire new skills but you can simply work on your strengths and expertise, and expand from there.

Unless you’re hired full-time as a contractor, you don’t have to spend weeks on building a complete business plan. Your value lies in your strategic skills combined with the understanding of the paradigms behind running a profitable business.