FCUS
NZBUSINESS.CO.NZ 33
- Execution (Reliability)–theydowhattheysaytheydoand
they are competent.
The best way to determine whether your potential advisor
possesses these ingredients is through conducting a thorough
referencecheck.Asktheadvisorstoprovideyouwithformer
clients that they worked with in similar situations. Then ask these
refereesthequestionsthataremeaningfulforyou.Youcanuseour
list above to start the conversation.
It’s interesting to note that some professional advisors don’t
view themselves as being in a service industry and often conduct
themselves poorly from a service point of view. They aren’t upfront
aboutfeesoransweryourquerieswhenitsuitsthemandnotto
your timeline.
Lack of responsiveness is a common complaint. So setting
those expectations upfront is important – including asking about
feestructures.We’veheardstoriesaboutsituationswheremoney
wasneverdiscussedandnastysurpriseshappened,leadingto
commercial disputes and long lasting resentments.
A letter of engagement that incorporates the brief, milestones,
fee structures and agreed outcomes is imperative to minimise the
risk of this happening to you, and should be used as a touchstone
forbothparties.Trynottoovercomplicateitandturnitinto
OHJDOHVH XQOHVV LW¶V D KLJKO\ FRPSOH[ SURMHFW ZLWK VLJQL¿FDQW
¿QDQFLDO LQYHVWPHQW ± LQ ZKLFK FDVH LW PD\ EH QHFHVVDU\ WR GR VR
Ifyouareaprofessionalserviceproviderreadingthisarticle,
theinterestingthingtoaskyourselfis:doyoumeettheabove
standards?Thatis,doyouclearlyarticulateyourvalueproposition,
fees, communication levels and terms of trade?
<RXPD\QRWKHDUIURPGLVVDWLV¿HGFOLHQWVGLUHFWO\EXWDVZHDOO
know, they’ll tell their network.“Time and
again we’ve
learnt that a
little work up-
front and clear
communication
savesalot
of time and
moneyinthe
long run.”
IF THIS IS SOMETHING THAT YOU’D LIKE TO WORK
TOWARDS, THEN CONTACT [email protected] AND
WE’LLBEINTOUCHWITHOURNEXTWORKSHOPDATE.
GALIA BARHAVA-MONTEITHAND
MARISA FONGARE CO-OWNERS OF TBC PARTNERS.
(WWW.TBC.PARTNERS)BUSINESS
MANAGEMENTWhen you set a clear brief and lay out your expectations, then
potential advisors should be able to clearly tell you if they can
meet your brief. Time and again we’ve learnt that a little work
up-front and clear communication saves a lot of time and money
in the long run.
- LOOK FOR SPECIFIC QUALITIES IN YOUR ADVISORS
From what we’ve observed, professional advisors that provide
outstanding services have the following key ingredients in
common:
- Transparency – about their processes, about who is actually
going to undertake the work, and most importantly, about what
their fee structure is from the outset. - Outstanding communication throughout the project –
characterised by being frequent and responsive and using all
different mediums. Good professional service providers call you,
they don’t just send emails. - Experience – that is relevant for you, be it specialist or
generalist, in any case, it is up to date and includes exposure to
\RXUVSHFL¿FVLWXDWLRQ
[email protected](^2018) JUNE
ANARE VIFOR AI
TO SUCCEED
Custom
whoc
Puing a
on their
LEADERSHIPARE
ROLES REALLYHARDER THESEDAYS?
WHY EMPLOYEEBURNOUT COULDBE KILLING
YOUR BUSINESS
JUNE 2018
TAKINGARA
HOWON YOU
RETAINTHETO EB
BEST ROI ON^7 WAYS TO G
ANINTRODUCTION TOADWORDSG
CHINA’S E-COMMERCEMARKET
on theirPgvalues:
8
ESIE
A SURUSI
IVALG
Business(IÞFLHQF WKURXJK
WHFKQRORJ\ t +RZ LV \RXU
EXVLQHVV DGDSWLQJ"
SECURE YOUR PLACE TODAY
JULY 2018 ISSUE:
COMI NG
UP NEXT