The Importance of an Outsider’s Perspective
As a business owner, you pride yourself on the years of experience and specialized services you provide your clients. However, with the uncertainty and swift changes that the economy is undergoing because of COVID-19, many corporations are struggling to perceive the future of their business. With employees completing jobs from home they have always done in the office and many executives fretting over what is next, the benefits of an outsider’s perspective on your business framework has never been more relevant. Here’s why you need to consult an outsider:
Trust your fellow business executives
The name Andy Grove comes heavily acclaimed within corporate circles due to his imposing success with Intel, serving as an extremely influential technology executive that helped make Silicon Valley what it is today. In his memoir, Only the Paranoid Survive, Grove details the extensive period of time where he and fellow management at Intel suffered huge losses due to the changing landscape of memory chips in the 1980s. Being surpassed by Japanese enterprising, Intel lost their competitive edge in the industry. What saved them, Grove reminisces, was how they began to consider the outsider’s perspective to transform their struggling company into a renewed corporate leader. The switch from memory chips to microprocessors proved prosperous, but Grove notes how many outsiders thought the decision took longer than necessary, “people who have no emotional stake in a decision can see what needs to be done sooner.”
Why you need an outsider
Grove’s story is a stunning expression of ingenuity, timing, and strategic planning that revolutionized Intel and the tech industry as well. However, when strategic inflection points occur, like the ones presented by COVID-19 and work from home demands, not all existing management is prepared to adopt the intellectual objectivity that an outsider can offer. Even with such extraordinary capabilities, corporations benefit from continual engagement with external advisors who appreciate the company’s structure but are able to offer their own specialized expertise, perspective, and skillset to better forecast opportunities for change. Outside directors and advisors who complement your business’ strength by bringing diverse opinions prepare you for better long-term forecasting, accurate customer feedback, and ultimately successful implementation of new strategies and structures.
How Financial Advisors help
While an internal financial team provides stability and comfort, Deloitte suggests that the future of successful business structures includes the outsourcing of Financial Planning and Analysis. This is because financial advisors, like the ones at Sobo, who are prepared to assist corporate clients using centralized methodologies and expertise in the benefits of automated information technology can offer businesses the leading edge in strategizing for the future of your industry. It is crucial during strategic inflection points like the one our economy is currently facing for companies to be equipped with outstanding Fraction CFO Services who produce reliable and timely reporting in pricing and profitability analysis, as well as exit and succession planning so you can identify strategic growth opportunities.Call us today at 404-999-0712 or visit us online to discuss how Sobo’s financial advisors can provide a highly skilled and reliable outsider perspective for your company.