As part of our Business Insights series, our Mergers and Acquisitions Director, Leanne Carling discusses the importance of recruiting good advisors from the get go. From her background in property acquisition to acquiring profitable businesses, Leanne’s experience working with advisors spans over 13 years.
Leanne’s advice to people starting out in business is to recruit good advisors from the get go “It might be expensive to start off with, however it will save you a lot in the long run.”
She explains how when her and her partner in business and marriage, Graeme, were starting out, they sourced cheap advisors, a decision that would go on to cost them a lot of money further down the line. Leanne’s advice for people starting out is to make sure you have professional law firms, accountancy firms and bookkeepers that will keep you on the right track.
Leanne’s strategy is to seek out advisors that are going to take her to the next level, and advises to “Look for advisors that are at a higher level than where you are at the moment. You’ll find as your business grows, and you grow as a person, you’ll change advisors. You might want to change them for different deals, you might have certain advisors that are more qualified in that sector.”
What to look for in advisors?
Be sure they are performing in your sector, they’re fully qualified to give you advice and they’re walking the talk. Be careful who you take advice from – family members, friends, teachers – are they qualified to give out the advice that you’re looking for?
Leanne sums the importance of advisors up with her top tip: “Get great advisors and don’t be afraid to change!”