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]