When it comes to business questions which we are asked the most common is around the them of a financial advisor, what they can do for a business and when you should be looking to hire one. To help answer this question we have brought in the services of Scott Tominaga, a successful financial advisor to many businesses and someone who has spent years working to improve the quality and decision making of many companies. This is what Scott had to say on the topic of whether a business needs a financial advisor, and when they should look at recruiting one.
What a Financial Advisor Can Bring
A financial advisor can benefit your business in so many ways and they can really help you to reach your individual business goals. Financial advisors can be completely impartial when it comes to taking financial decisions for your business, something which many business owners cannot do because they are emotionally invested. Beyond this a financial advisor can help with plans for growth and finial opportunities, as well as bringing solid list of contacts which can help with lending, investment and even finding new premises.
Does Your Business Need a Financial Advisor?
Scott believes that every business should have an advisor who they can go to when there are financial decisions to be made and discussions to be had. Because of the fact that these men and women live and breathe the financial industry they are able to help just about every type of business reach their individual goals and achieve higher levels of success. Even a small business can benefit from having a financial advisor on board and Scott believes that the investment which is made into paying fro a financial advisor, will come back time and time again thanks to the advice which they will offer. Whether it is saving money, spending money or managing the company’s finances, this is s service which every business can gain from.
When Should You Hire a Financial Advisor?
A common mistake which many businesses make is that they don’t hire a financial advisor until they are in trouble, or until a certain opportunity presents itself. The reason why this is a mistake is because it gives the advisor little to no time to plan and execute in the way that they would like. For this reason Scott believes that it is never too early to hire a financial advisor and having one on hand from the early days of your business can massively help to add financial stability to your company, and to spot potential opportunities which are coming your way. Scott’s advice would be not to wait for an issue to arise before contacting a financial advisor, the earlier that you get an advisor the sooner that you can build up a bond, and the sooner that they can understand how your business works, and what you are looking to achieve from it.