Consultancy for Growth

One of the key areas of work undertaken at Harrison Spence is consultancy. This is in essence, practical, independent advice that helps a business owner improve, grow, solve problems or prepare for an important change, such as a sale, acquisition, succession or even a move to a directly authorised status.

Consultancy can be delivered by a number of different methods. This may range from support with a specific project to ongoing strategic advice as the business develops.

I am fortunate to have NED roles, in a variety of industries outside of financial services. In my experience, leadership teams, particularly those running start-ups or growing businesses, have multiple challenges.

Growth is paramount, but unless you’re fortunate enough to have a reliable source of organic expansion, it comes with costs, uncertainty and risk.

Staffing, technology investment, market conditions and cash flow all must be managed carefully. Like many organisations today including our own government departments, teams are often being asked to achieve more with fewer resources and people.

This is where an effective board can make a real difference.

A good Non-Executive Director provides an independent perspective and an outside pair of eyes and will challenge boards without becoming involved in the day-to-day running of the business.

Strong boards don’t just provide governance and oversight. They help leadership teams focus on the decisions that will create the greatest long-term value. I like to think my role is to bring clarity, experience and confidence, helping ensure that the right decisions are made at the right time. In addition, with age comes knowledge of what has been tried and has failed and what has been successful.

People often ask me what the most essential board discussions are about. In my experience, they usually revolve around three simple questions:

• What assumptions are we making that may no longer be true?
  • Which risks deserve more attention, and which ones are simply distracting us?
  • Where should we be investing today to strengthen our position for two or three years from now?

Most business face similar problems, very little is new or unique, and an NED appointed to the board can both assist the board and reap dividends for the shareholders. 

At Harrison Spence, we have genuine experience of both running and advising IFA businesses, and we would be delighted to hear about your business plans and how we may assist.