HOW TO CHOOSE A PROFESSIONAL ADVISER

The way to deal with this is to go and talk to some of each profession. To ‘interview’ them and see how they will fit in to your work style and needs. You will be surprised at the differences you encounter, in attitude, ability, attention, interest, efficiency, organization and qualifications. And, price!

OK. You really do need to get your advisers sorted, before you start up.

Here’s what to do:

You look in Yellow Pages and see hundreds of names but you have absolutely

NO idea what the level of service, from any of them, will be.

You need to exercise some choice, but where DO you begin?

Start with some personal recommendations. It always makes sense to ask friends, business acquaintences. Chambers of Commerce or a business adviser. If they are happy with their contacts, over a period of time. it’s a good indicator for you, and a starting point for your search.

Reduce these to a shortlist of three, of each group.

Arrange to see them , one at a time, before making a decision.

Phone each one up, say you’re starting a new business, will want legal/financial services and would like to meet them. Then ask whether they provide a free, initial meeting. After all, you’re taking potential business to them, so you don’t want to be charged for that session. In fairness, most professionals these days will happily agree to this, as a way of meeting new clients. You won’t get, nor should you expect,much definitive advice in that free session but you can find out about them, which is the point of it.

On arrival, be observant. Notice how the offices look, how the place is run. The attitude of the staff can be telling. All these points reflect the culture of the business and the partners.

When you meet the adviser, continue the same process. His appearance? Is he interested in you or, as it’s a free session, is he signing letters or taking calls while you talk? I’ve had all these experiences in the past. Unfortunately the new entrepreneur can feel uncomfortable in this process, the first time it happens. Don’t! Your job is to find someone you can work with. You are looking for the best you can afford, in a person you are comfortable with.

In the meeting, ask the questions that matter to you and judge by the response. In particular, find out which person or partner you will be dealing with, how available they will be if you need urgent advice and, what the charging rates will be. It is important for both parties to be clear about costs. You wouldn’t buy anything else without knowing the cost, so don’t do it with professional charges. It is regrettable that often the advisers themselves don’t always make their hourly rates, or tariffs clear at the outset. This can understandably gives rise to disputes when the first bills arrive, especially as they are often more than the clients ‘guesstimate’.

You can then leave, thank them for their time and look forward to seeing them again. You owe them nothing and as you work through your list, you will quickly be able to make a selection (or not!) of the most suitable and preferred adviser for you. A few days invested in this rather tedious process is better spent BEFORE you become involved with your new enterprise than later ,when you are too busy to be selective.