The Five Phases of Business Advisory Success

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The term ‘Advisor’ or ‘Business Advisor’ seen on a growing number of firm websites often causes confusion to customers, prospects and importantly team members and begs some questions.

To start with:

  • What is advisory or business advisory?
  • What advisory services should we be offering? 
  • What process should be used to assist clients grow their business and improve profitability?
  • Can all our team members deliver these services, and more importantly should they be delivering these services?
  • How long will it take to build the capability to deliver advisory services?
  • How much can we leverage these services? What can be scaled?
  • What would our clients value and where do they need assistance?

In essence, business advisory shouldn’t be confused with other types of advisory such as wealth, compliance or preparing a business for sale. Business advisory is supporting clients improve the growth, profit and people through insights, problem solving, strategy and implementation support.

To simplify the complexity in this discussion, I’ve attempted to classify business advisory into five phases, describing what services can be delivered, the skills needed to deliver these services, the typical roles of the advisors delivering them and the tools to help an advisor in the delivery process. These phases are not intended to be a journey or progression, some will decide that they are best suited to phase one or two and will only focus there, while others will evolve their capabilities to deliver the more complex, but highly valuable offerings outlined in phase five.

There is no right or wrong. See below:

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About James Mason

James Mason

James Mason has been managing director of Mindshop since 2000, where he oversees the advisory training, coaching, resources development, and growth needs of business leaders and advisors.


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