Out Shopping Around

In the canine performance arena, owners will often seek out the best trainers and the best venues where their dogs excel. It is no different in the small business world. Seeking out and shopping around for the best advisors is paramount to keeping your business healthy.

We form relationships that are beneficial to our efforts In business. Wr seek out accountants, bankers, lawyers, graphic designers, insurance agents, landlords, and many other vendors or professionals as warranted. It is helpful to create a history with your supporters. It will help for many of these professionals to truly understand where you have been and help counsel on where you should go.

But, there may be times when it is helpful to you and your business to seek out new assistance. An ideal time is when your assigned person leaves the company. You will likely need to explain your business to the new representative so it may be ideal to interview representatives at competitors. Some of your business relationships will last the life cycle of your company, others may not. Identifying when a fresh perspective is necessary is an important judgment call on behalf of the owner.

Many firms establish protocol to seek out proposals for orofessional services every five (5) years or so, if not needed sooner. We have seen firms review this annually but switching each year can create more chaos than anything else. Waiting too long for a review may allow for stagnation and less competitive rates. Balancing the timeframe is something that should receive your time and attention.

We enjoy partnering for support as business owners. Just remember to take the time at least every few years to ensure all the relationships you have built continue to help grow your firm.

Be well.