What with looming spending cutbacks as a result of the public sector borrowing requirements, plus the current political uncertainty around the future of business support agencies - in particular the regional development agencies - following the change in government, it would be fair to say that the current picture relating to business funding is also 'uncertain' (just goes to show you the benefit of doing your STEP analysis - see our free top ten tips for growing your business).
Connected with this, I've just fielded one of the most jaw-droppingly naive questions of my Business Doctors career so far from a member of the Bradford business support community that's compelled me to blog this entry. Now, admittedly, Bradford has its own issues relating to poverty and regeneration, but I think we need to try a little harder to pull ourselves up by the boot straps.
Names have been witheld to spare any blushes, but the conversation was along the lines of:
Questioner: "Business Doctors - now that sounds interesting."
Me: "Yes, it is, it's keeping me extremely busy."
Questioner: "So what do you do, do you basically dish out loads of free funding to businesses"
Me: "Er, nooooo....! We help businesses to achieve their vision by helping develop a unique strategy that matches their own unique internal capabilities with the most attractive external opportunities."
Now to me, this highlights that whilst publicly funded agencies are working really hard to make the changes cities like Bradford need to see, potential clients need to look very carefully at any service they are being offered in order to check it meets their own needs. If the wrong service is matched with the wrong client, then the business support community as a whole can be tarnished by the project failing to meet its objectives.
What are the benefits to business owners of getting professional outside help?
- As owners of SMEs have often undergone organic growth ‘from the tools’ themselves, they may not have the skills and experience to make the changes they need to make;
- There is usually value in taking independent advice because it challenges your own thinking; as humans we are poor at thinking through the downside of our bright ideas;
- Bringing in an extra pair of hands can help free up time to help prioritise what really needs doing – enabling the business owner to start to see the ‘wood for the trees’ and take a long term view of where he or she is going.
So I would say, let’s get away from this something-for-nothing trap that we can fall into and get real about the value that professionals deliver. Business support is just that – it’s not free money to burn, it’s support to help entrepreneurs achieve their vision.
What do you think? Leave a comment or contact me with your view.