A good advisory team can turbo charge a management team. But not always. Advisors should support a business in its quest for profits that far exceed the cost of their advice. Here’s our take.
We are advisors so we have an interest in helping people. We also have a policy of not working with other advisors if they are below par. Below are some criteria for advisors.
Qualities of good advisors:
Advisors should be knowledgeable and experienced. They should be pragmatic and adaptive to circumstances within their sphere of expertise. And they should be good team players. They should present possible courses of action clearly. They should be professional, organized and orderly. They should not be extremist or conceited.
At the all-important international level, local experienced advisors should be consulted in each country concerned. This is because law and practice tend to vary in each country.
In-house or external advisors?
In-house advisors may help a business expand more quickly than external advisors with many other clients.
On the other hand, external advisors tend to be more exposed to issues that matter as other clients may have already encountered them.
Knowledge, abilities and experience all help
Which advisors?
That of course depends on what is needed. Here are a few examples of advisors and examples of their uses.
- Investment bankers – finance, M&A deals.
- Lawyers – contracts, deals, regulatory, employment, real estate and other legal matters.
- Accountants – accounting, tax reporting, tax advice, deal advice
- Technical teams – computer systems maintenance, other technical matters
- Environmental advisors – especially for older industries
- Marketing – getting the right message over to potential customers
- Other advisors – many exist of course.
Do you need AI or people to get a business deal off the ground?
You need both. A good AI (artificial intelligence) agent may help provide an initial general picture and point out product strengths and weaknesses it is programmed for. But human specialists apply judgement and often notice specific aspects to consider.
We strongly having a project management team with an experienced team leader to coordinate things and act as a communication channel with other parties.
An appropriate team leader might be a senior executive, an accountant or lawyer or investment banker or an experienced M&A advisor (such as our firm….).
Are lawyers pricey?
Always consult in good time with law firms in each country concerned regarding all relevant legal aspects. In particular, ascertain whether legal protection is in place such as patents or copyright. Check also that all privacy legislation is observed and that an appropriate privacy policy is publicized and observed. Lawyers may sometimes seem pricey but they are an investment – they bring knowledge and help reduce risks.
Tax aspects:
Always consult in good time with accountants, lawyers and tax specialist in each country regarding all relevant tax aspects. This is to help reduce numerous possible tax risks that may be present at a company or involved in a deal such as: complex structures; non-reporting issues; double taxation; potential planning opportunities, etc.
Do you need AI or people to get a business deal off the ground?
You need both. A good AI (artificial intelligence) agent may help provide an initial general picture and point out product strengths and weaknesses it is programmed for. But human specialists apply judgement and often notice specific aspects to consider.
We strongly having a project management team with an experienced team leader to coordinate things. An appropriate team leader might be a senior executive, an accountant or lawyer or investment banker or an experienced M&A advisor (such as our firm….).
What else matters in a deal?
Plenty. In particular, evaluate the motives, resources, risks, strengths and weaknesses of each party. And watch the timetable.
Where can you locate specialist advisors around the world?
Try Advisors.biz
What else matters in a deal?
Plenty. In particular, evaluate the motives, resources, risks, strengths and weaknesses of each party. And watch the timetable.
In conclusion:
Experienced business advisors can boost a business if they deploy knowledge at both the macro and micro levels.
For more information:
- Contacts us at: Email HQ@Advisors.Biz or leon@hcat.co, or Tel/WhatsApp: +972-54-644-9398.
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