Business Advisors as Business Doctors
In the world of business advisory, a fresh and empathetic perspective can yield transformative outcomes. By thinking like healthcare practitioners — such as doctors, chiropractors, nutritionists and the list goes on — business advisors can offer deeper insights, more effective, targeted solutions, while simultaneously building more meaningful relationships. Much like physicians prioritise their patients’ well-being, business advisors too must deeply care for their clients’ businesses and overall success.
The Importance of Empathy in Business Advisory
One defining characteristic of healthcare professionals is their compassion for their patients. Whether they are diagnosing an illness or helping patients regain mobility, their primary motivation (in most cases) is always the best interest of those they serve. Similarly, business advisors must adopt an empathetic, client-centered approach. Genuinely caring about the success and well-being of a clients business is foundational to crafting meaningful solutions to the unique challenges each small to medium business faces.
Diagnosis Comes First
A critical first step in both healthcare and business advisory is a comprehensive diagnosis. Just as the good healthcare provider doesn’t prescribe medicine (for example) without understanding the underlying illness, advisors must resist the urge to jump to conclusions. A thorough investigation is needed to identify root causes, often requiring deep dives into the business’s operations, finances, and customer dynamics in order to see the full picture. By identifying the real problem (and most often multiple problems) — not just the symptoms — business advisors can avoid wasting time and resources on solutions that miss the mark.
Going Beyond the Client’s Initial Assumptions
Often, clients approach business advisors with preformed conclusions about what they need — for instance, increased marketing efforts or operational cost reductions. But just as a patient might misdiagnose their symptoms based on an internet search, business owners may not fully understand what the true issues are within their business. Whether this is due to biases, not being truthful with themselves, or some other reason, too many business owners miss real opportunities in their business simply by not seeking external advice and assistance from a professional. In our case, good business advisors look beyond these surface-level complaints and uncover the real issues, which may range from poor customer service to deeper structural inefficiencies.
The Power of Triaging
In healthcare, triaging involves prioritising which conditions need immediate attention and which can wait. This principle translates seamlessly to business advisory services. Once the diagnostic phase concludes, business advisors should analyse findings and order issues by their level of urgency or potential impact. Not all problems can or should be addressed simultaneously — thoughtful prioritisation leads to more effective and sustainable solutions.
Developing Clear and Actionable Solutions
After diagnosing and triaging, the final piece of the puzzle is crafting tailored solutions. Much like a doctor writes a prescription or recommends therapy, business advisors should create clear, actionable plans. These solutions should be as specific as possible, detailing steps to resolve each issue and the anticipated outcomes. Vague or cookie-cutter recommendations seldom lead to success.
Follow-Up and Continuous Improvement
Healthcare practitioners don’t stop with a single intervention — they track progress, adjust treatment plans, and ensure their patients are on the right track. Business advisors can follow suit by checking in regularly, assessing the impact of implemented changes, and modifying strategies as needed. This commitment to continuous improvement can make the difference between temporary fixes and enduring success.
Building Long-Term Trust
Trust is at the core of the relationship between patients and healthcare providers. Business advisors can foster the same level of trust by demonstrating unwavering dedication to their clients’ goals, transparency in their recommendations, and a proven track record of results. Businesses are more likely to follow through on advice when they believe their business advisor truly understands and values their objectives.
Elevating the Profession
Adopting a healthcare practitioner’s mindset not only benefits individual clients but also enhances the credibility and professionalism of the business advisory industry as a whole. By emphasising empathy, precision, and continuous care, business advisors can position themselves as indispensable partners in their clients’ success.
Thinking like a healthcare professional transforms the way business advisors diagnose, prioritise, and resolve organizational challenges. By deeply caring for their clients, committing to thorough diagnostics, and prioritising issues effectively, business advisors can go beyond surface-level fixes and deliver meaningful, long-lasting results. Just as doctors improve lives, business advisors can profoundly impact the success and sustainability of the small to medium businesses they serve.
At Benchmark Business Advisory, we believe that providing effective business advice and business advisory solutions is about more than just pointing out problems—it’s about partnering with you to create and implement solutions that drive real impact. Whether you’re looking to increase profitability, reduce risk, streamline operations, scale your business or get it ready for sale, our proprietary process provides the structure and support you need to achieve your goals.
Ready to unlock your business’s full potential? Contact us today to learn how Benchmark Business Advisory can transform your operations and set you on the path to sustainable success.