The One Skill You Must Possess to Be an Amazing Business Advisor

• 3 min read
The One Skill You Must Possess to Be an Amazing Business Advisor

We know that business owners struggle. It's why, according to the Small Business Administration, half of all businesses will fail before they reach year five.

They need serious help.

You ask the average accountant, bookkeeper, or business coach and they will confidently claim that "I can help them."

Although well-intentioned, these so-called 'business advisors' are not providing the type of help the business owner really needs - even though they think they are.

These 'mediocre' business advisors usually fit one of three types:

Type #1: "I've got a few letters after my name and thus I'm smart."

Type #2: "I've bought into this amazing 'business coaching system' and I'm going to force your business to fit the system (instead of the other way around)".

Type #3: "I'm telling you the problems; you're just not listening!"

Let's look at each type.

Type #1...

The "I've got a few letters after my name and thus I'm smart." person excelled in school. Excelled in tests. Excels in learning.

They're simply smart.

They have either a MBA, CPA, CMA, or any one of the plethora of acronyms that show the world they're smart.

They know all the answers.

Type #2...

The "I've got this amazing 'business coaching system' and I'm going to force your business to fit the system" person bought into one of the many 'systems' that promises great results.

These 'systems' are usually theory. They 'theoretically' should work.

They, theoretically, should work for any business.

Because...well, they worked for at least one business, at one point in time, by one (usually charismatic) individual ... and thus, they must (must!) work for any business.

The problem? These 'business systems' are very rigid.

They require the business owner to jump through many unnatural hoops.

They require the business to fit a mold that may be unnatural for that business or that business owner.

They require the business owner to fit a system.

And, since, business owners are human, they'll usually try to force something to work for a few months...

...and, as with anything that's 'theoretical', forcing something is not sustainable.

And so they stop 'working the system'.

Type #3...

The "I'm telling you the problems; you're just not listening!" person is a cousin of Type #1.

This person is usually smart.

This person knows everything there's to know about accounting or bookkeeping.

This person usually claims to be a great CFO.

This person knows their way around an Excel spreadsheet.

They can create financial models that would put mere mortals to shame.

This person has all the answers...if only their clients would listen to them.

The Missing Ingredient

The reason all three 'types' make mediocre business advisors is because they usually are missing the one ingredient that makes an amazing business advisor.

The missing ingredient: The ability to influence.

You could be the smartest person in the room and have all the answers - but if you can't influence someone then it doesn't matter.

It's why really intelligent people usually make lousy teachers.

(By the way, this is good news if you're not a scholar, don't have three letters after your name, or don't have a fancy coaching system).

It doesn't matter how smart you are, or how great you are at 'accounting' or 'business strategy' or 'financial analysis'.

If you can't influence a business owner to take action to improve their business then it simply doesn't matter.

Your efforts are wasted.

If you want to become an amazing business advisor you must possess the ability to influence change.

The ability to influence is what separates the mediocre from the amazing.

"A teacher is never a giver of truth; he is a guide, a pointer to the truth that each student must find for himself." - Bruce Lee

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