Why Every Business Owner Needs a Sounding Board

Why Every Business Owner Needs a Sounding Board
August 20, 2018 Toohey Reid

There’s no doubt about it, people at the top of the chain of command – executives and business owners – constantly have a whirlwind going on inside their head. An executive’s job is to be in touch with every aspect of the business, to know what’s going on, and to make stress-inducing financial decisions.

We know that’s a lot of pressure, we’re all human. No matter how good you are at your job, you can’t be a superhero. It’s natural to feel somewhat overwhelmed, confused, or even mentally fatigued. Sometimes the top can be a lonely place, and you need extra support to work through the tough decisions. But where does that come from?

Introducing the Toohey Reid Board of Advice program!

Although it may seem like a simple idea, a sounding board can actually have a myriad of benefits for your business. Just like a computer sometimes needs an update, a sounding board can provide refreshing advice and support to executives and business owners.

Why you need a sounding board

We’ve all had those days where nothing goes right, where your creativity has hit the wall, or you just can’t figure out a solution to a recurring problem. It’s natural. That’s where a sounding board is beneficial. For small business owners or business executives without an internal board to lean on, an external board can provide expert advice, bring a sense of clarity to situations and also supply reassurance during tumultuous times.

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Functions a good sounding board should provide

A business sounding board should have a variety of functions, all of which will centre around making your job as an executive, or business owner, easier. A professional external sounding board will:

  • Give you a space to bounce ideas around
  • Provide a different perspective
  • Provide creativity
  • Listen to your concerns and ideas
  • Question your decisions and provide clarity

Where to find a sounding board for your business

There are a variety of paths you can choose to take when it comes to setting up a sounding board for your business, but not all sounding boards are equal, so it is imperative to shop around before putting your business in the hands of others.

What is Toohey Reid’s new Board of Advice Program and why is it different?

With decades of experience in business accountancy and consultancy behind us, Toohey Reid is passionate about helping clients succeed. That’s why we’ve introduced the Board of Advice Program, to provide you with industry expert advice on how to manage various aspects of your business.

Quite simply, the Board of Advice Program has been implemented to help you make informed decisions on how you can strategically grow your business. From valuing your business to discussing governance matters and managing strategic growth opportunities, Toohey Reid provides expert advice on a comprehensive range of matters.

A great sounding board such as Toohey Reid’s new Board of Advice Program will ensure you:

    • Know how to protect your business
    • Learn ways to grow the value of your business
    • Maximise the capital value on exit of your business so you can achieve financial independence

Think you need a sounding board? The team at Toohey Reid is passionate about helping business owners and executives like you! Contact us today to find out how we can develop a strategy to ensure your business growth. Or head to our Board of Advice Program page to find out more information.

General Advice Disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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