Plain and Simple: Bright Business Insights Spring 2019 | Página 4
DEDICATE SPRING TO YOUR SERVICE PROVIDERS
In Business, You’re Stronger Together
While you’re making plans to complete a little extra deep cleaning
around the house this spring, why not commit to taking a closer look
at your business as well? Not only is it a good idea to regularly assess
your business’s strategies, continued assessment is actually critical to
your ability to increase your business’s value.
To grow a successful business, you need to collaborate with a team
of advisory experts (CPA, banker, insurance agent, attorney, etc.). I
can’t stress this team approach enough as the ideas generated from
this group will be vital when it comes to driving long-term value (and
success) within your own operation.
Teamwork Makes The Dream Work
The key to any successful service provider relationship is teamwork.
As industry professionals, you and your service providers all bring
significant expertise and experience to the table. If you feel as though
your service provider relationships aren’t valuable for one reason or
another or that they aren’t offering helpful insights, it might be time to
look elsewhere for assistance. Additionally, if you’re discrediting your
service providers’ importance, your business could suffer. Instead,
strengthen the relationships you have with your advisory team as they
will help you successfully drive long-term business growth.
Meeting Of The Minds
One of the best ways to keep your advisor relationships strong and
your business strategies fresh is to call an annual meeting of the minds.
At least once a year, you should host a joint meeting to review the ups
and downs of the last year, gain different perspectives on a variety of
business-related topics and facilitate new ideas from external sources.
Meeting with each of your service providers individually could
actually increase the likelihood of miscommunication – or accidental
omission of important details–which is why it’s so important to bring
everyone together at the same time and location. More often than not,
the knowledge and insight that stems from these meetings will be
invaluable to the future success of your business.
Harnessing an approach of collaboration among your service providers
will impact your ability to drive value to your business. You will not
only become informed on matters that could, directly and indirectly,
affect your business, you will gain insight into tactics and strategies
that could help you operate your business with greater efficiency.
Oftentimes, business owners schedule this meeting to occur at the
beginning of the year. Now that tax season is over, this is a good
time to send out your invitation. To learn more about building
successful relationships with your service providers, give me a call at
330.521.4536.
by:
Joel Yoder, CPA
Manager
212 North Washington Street
Millersburg, OH 44654
330.521.4536
[email protected]