How you can grow your business
A pair of fresh eyes can provide new perspectives and a new way of thinking that can help your business tackle a situation. Obtaining perspective from an outside source such as an accountant means you can bounce new ideas off them which challenge your thinking. That’s why we are here with a couple of reasons why you need an outsider’s perspective on your business.
No emotional connection
It is often senior leaders who want improvements, but when drastic changes need to be implemented they can be reluctant to follow through. This can be due to the attachment of their business or unwillingness to highlight changes that could highlight a previous error of judgement on their behalf.
An outsider working with the company can spot hidden opportunities that an internal member of staff may have overlooked.
Applying what works well from other businesses
In business, often great ideas are untested which raise doubts that they will ever be successful. Changes can be expensive and risky if not implemented correctly. However, consulting an expert with a wealth of experience from multiple industries means you can draw on their expertise. They are best placed to warn clients of the various pitfalls and potential problems with any of their new processes.
Easier to question processes
It’s human nature to not want to be seen as the villain who questions the methods and practices of the business. The fear of being known as being disruptive can make you feel like you will be dismissed by the organisation. So, instead of questioning how things are done, the problem escalates.
An outsider, on the other hand, is more than happy to question any potential processes and can highlight them before they are implemented before it’s too late.
Adapting with the Times
Fresh eyes avoid the thinking of “we’ve always done it this way”. If something has worked well in the past for your company, people usually continue doing the same thing even though the industry has changed. Kodak for instance, is one of the most recent corporate failures. Firmly establishing themselves as market leaders in the photography trade, they filed for bankruptcy for 2012 due to an unwillingness to move with the times. They had plenty of opportunities to act before digital photography would surpass film, but were too stuck in their ways. An outsider may well have come in, pushed for a change and ultimately helped them avoid completely crumbling
There is a wealth of research that suggests managers tend to hire people that remind them of themselves. This results in group of people thinking and acting in the same way, hindering the development of fresh ideas. Input from an outsider with contrasting experiences can deliver fresh ideas and that could help businesses get back on track.
Ultimately, growth requires fundamental changes to the way businesses usually operate. You will often see positive changes within professional football teams that are struggling by bring in someone else in to manage the situation. Someone with new tactics and methods. More often than not the result is a drastic upturn in their performance and fortunes. In a similar vein, a fresh perspective for your business could be just what you need.
Manchester accountants for Start-Ups
We get to know your businesses and deliver a fresh perspective by suggesting alternative revenue streams, areas for development, issues such as minimising tax liability and research and development.