The Value of an Objective Third Party
by M. Anthony Sacco
Do you get a routine health exam? I have an acquaintance who, a few years ago, had to be talked into making a long overdue appointment with their General Practitioner for a routine physical check-up. This was after two or three years had gone by since their last physical exam and, after several months of an annoying and unexplained physical condition, that prompted the unwelcome attention, but was being ignored.
When the exam finally was performed, it turned out that the doctor identified not just one, but two serious conditions that were then confirmed by specialists through referrals. My friend, then having information (data) upon which to base decisions to take corrective actions began a series of treatments which have had beneficial effect on both of the conditions. Had there never been the pressure to get a professional opinion and assistance from an objective third-party the health issues would have progressed. And, there would have been a lack of accurate data to suggest a corrective course of action. Then the already serious conditions would have become more serious and my friend’s health would have simply deteriorated due to a lack of factual information and the resulting appropriate attention upon which were based focused corrective actions.
Does your business routinely have a check-up?
Okay, it probably has occurred to you by now, this analogy has direct bearing on how healthy your business may or may not be. And, whether you have a process to make sure that you periodically obtain a factual, objective analysis of your results in order to make sure your business is healthy, and/or identify hidden or overlooked negative trends before they become insurmountable problems. Organizations develop historic biases, filter out negative information, are too busy to take the time, may not have experienced a particular scenario before, and/or may be transitioning into a new, unfamiliar phase of the business. In any case, by having an experienced consultant as an objective advisor providing objective due diligence on a periodic basis to review results and recommend areas where critical attention should be focused, can be the difference between a failing or a successful business.
So who is the “General Practitioner” for your business check-up?
An experienced, outside business advisor or consultant who operates with honesty and integrity and maintains your privacy is our recommendation for a strategic resource to perform a business check-up and then make valuable recommendations. Specifically, a consultant with a broad business management background, with hands-on experience, with a strong education, who exhibits integrity and who is objective. To get the valuable advice needed, an outside perspective will eliminate the obvious conflicts of interest that crop up in internally staffed reviews or reviews that involve parties who provide you with contracted operational services . Independence from ownership, systems design or support, employee relationships, and/or authorship of strategic initiatives should be maintained in the “check-up” process for accuracy and integrity.
Resources:
Article “What is a Business Consultant”, Hom, Elaine J., Business News Daily, June 10, 2013
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