Our Business Consulting advisors answer a recent question one of them received, below:
Question: My business relies on input from many different advisors. This can be overwhelming: how do I balance all of the guidance I receive?
Answer: Proverbs 15:22 says that “Plans fail for lack of counsel, but with many advisers they succeed.” In our experience, we’ve seen it is also true that there can be too many “cooks in the kitchen.”
Organizations often have a range of specialists contributing a variety of professional services. There may be an attorney focused on the personal estate, a CPA focused on minimizing the individual tax burden, a CFO focused on not presuming on the corporate financials, and a consultant focused on the business’s overall health. Without someone coordinating the collective efforts of these contributors, providing accountability, structure, and communication, we have seen confusion ensue.
Conversely, we have seen the many-counselors model succeed when there is someone in charge. One client we worked with holds a monthly call, where one person coordinates activities and facilitates communications amongst the various contributors. That person keeps people accountable and in their professional “lanes.” With this type of guardrail established, many advisers can bring clarity, rather than confusion, to the business.
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