Discover the CEO of YOU™ – Build Your Professional Team

Discover the CEO of YOU™: Building Your Professional Team

“The strength of the team is each individual member. The strength of each member is the team.” – Phil Jackson

To truly step into the role of the CEO of YOU™, assembling a professional team of advisors is essential. Building a practice is much like constructing a house. You need specialists for various tasks, and together, they bring the vision to life. As the CEO, it’s your responsibility to gather a team that will help turn your dream into reality.

Do You Have a Professional Team?

When was the last time you met with a team of professional advisors to make a key business decision? If you’re like many independent practice owners, you might be thinking, “What team of professionals?”

Most practice owners manage day-to-day operations on their own. But running a practice can be far more efficient and profitable with the help of a skilled advisory team. These advisors consult, guide, and provide valuable insights to help you manage your practice better. In this article, I’ll share how having a team of professional advisors creates a protective shield for your practice.

Why You Need a Team of Professional Advisors

From the moment you decide to start a practice, you should begin assembling a team of professional advisors. This team can generate a wider range of ideas than you could on your own, offering innovative and creative solutions. A good team listens to your ideas, challenges your thinking, refines your strategies, and mentors you toward success.

Many practice owners hesitate to hire professional advisors, often saying, “I can’t afford it.” But the cost of not having the right team can be far greater, leading to missed opportunities or even failure. A dream team of advisors can propel your business to new heights, providing the expertise and balance needed to thrive.

How to Find the Right Advisors

Here are three effective ways to find professional advisors:

1. Assess Your Needs: Identify the areas where you lack expertise. Consult with trusted colleagues or friends who can help you pinpoint gaps in your knowledge or skills. Sometimes, an outside perspective will reveal areas you hadn’t considered.
2. Leverage Professional Associations: Look into resource pages from associations within your industry or those related to the expertise you need, such as legal or financial advice. State bar associations, for example, can provide information about prospective legal advisors.
3. Join Local Networking Groups: Chamber of commerce networking events are great places to meet potential advisors from various fields. These professionals often come with strong industry connections, which can help open doors and create new opportunities for your practice.

Questions to Ask Potential Advisors

When interviewing advisors, consider asking the following questions:

• What is your advising experience? Make sure your potential advisor isn’t already working with your competition to avoid conflicts of interest. Establish a non-disclosure agreement for added protection.
• Can you share past successes and challenges? You want to ensure the advisor has learned from previous experiences and can apply those lessons to your practice.
• What advice would you give in this situation? Present a few tough scenarios your practice might face. The quality and relevance of their advice will reveal whether they align with your core values and business philosophy.
• Have you worked with practices similar to mine? While it’s useful to compare with others, you want an advisor who will tailor their approach to your unique challenges, not apply a one-size-fits-all solution.

Building a practice requires guidance and support from various sources. While family, friends, and mentors will undoubtedly play a role, having a professional team will help ensure your practice reaches its full potential. Regularly engaging with these advisors will keep your business efficient, profitable, and prepared for the challenges ahead.

Next week, I’ll outline the five key players you need on your professional advisory team. Stay tuned!

Ready to Build Your Team?

Do you have a professional team of advisors who challenge you to grow and help you reach your goals? If you’re unsure, we’re here to help. For more information on building a team that supports your success, click HERE to sign up for our CEO of YOU™ business coaching.

Until next time, remember to dream big, take risks, and become the CEO of YOU™!