Thought Partnership: A New Perspective for the New Year

Think about the last time you asked someone to check your work. Maybe you asked a copy editor to proofread a proposal or an accountant to review your financial plans. What was your reason for seeking assistance? Assuming you’ve applied all your industry expertise, the requisite time, and thorough research — and knowing no one knows your business like you do — what could someone else possibly add to your best efforts? And the answer is, of course, a fresh perspective.

When we spend most of our time intently focused on a single object or objective, it’s easy to get myopic. But a purely internal point of view risks unintended limits on your company’s prospects for growth and adaptability. Whether your business needs a new approach to communication and collaboration, strategies for building on what’s working, or assistance making positive, strategic change in response to discernible industry trends, a fresh perspective can make all the difference to building your business success without weakening your leadership influence.

Worthwhile perspectives

With no shortage of business consultants, coaches, mentors, masterminds, advisors, etc. proffering their services and expertise, how do you find an outside perspective worthy of your time and attention? Start with an honest evaluation of the type of help you need. Is your problem simple and narrowly focused or complex and company-wide?

Next, make sure to define your terms. A business consultant, for instance, typically offers an evaluation of your current business practices which may or may not include recommendations for improvement. Strategists, aka strategy consultants, help your business develop specific plans aimed at specific goals, and financial advisors help your company stay financially healthy with advice on the stability of your investments and the feasibility of your financial plans.

Find reliable help by consulting industry or professional associations, local groups — such as your community’s Chamber of Commerce — and your own trusted acquaintances. Mentors and peers in similar fields are a good place to start, but even those outside your industry can help you identify trustworthy, and worthwhile, outside perspectives. The idea is to find a thought partner whose business philosophy complements your own and whose vision and expertise can enhance your company’s potential.

Advantages of an outside perspective

You know your business inside and out, but that level of involvement frequently contributes to tunnel vision. Dedication and good intentions are important, but your business can also benefit from clear and measurable goals, market research, industry knowledge and experience, agility, adaptability, and a people-centered approach. Potential benefits of an alternate viewpoint include:

• A fresh set of eyes. An experienced thought partner can provide you with feedback on issues or ideas that may get lost or overlooked in the day-to-day running of your organization. Outside advisors may have a unique angle you have yet to consider.

• A push outside your comfort zone. Outsiders can challenge existing assumptions about what can — and cannot — work. When past successes or failures inhibit progress or innovation, an external advisor can help you overcome hesitation and pursue positive change.

• No baggage. Internal issues can cause conflict, disjointed approaches to problem solving, and poor decision making. Outside advisors aren’t burdened by a company’s internal baggage, so their recommendations rely on data, research, open communication, and appreciative inquiry.

• Customer and employee insight. In most industries, there are two sets of people central to business success: customers and employees. As more companies recognize and move to address the connection between the employee and customer experiences, an objective evaluation of your organization’s human centric activity is invaluable.

• Broad experience and expertise. The best thought partners work with a variety of clients and conduct extensive on-the-ground evaluation, research, testing, and analysis for each. A thorough advisory approach makes these external partners a wealth of useful business information.

• Access to resources. External advisors have tools, market data, and in many cases, a proprietary approach for evaluating and improving your company’s practices, processes, and procedures.

Focus areas to consider

An objective outside perspective may raise unexpected issues, but an experienced advisor’s thoughts are typically worth your attention — particularly when they adopt a “thought partnership” advisory approach. Whether recommendations are limited to your acknowledged areas of concern or based on a full-scope evaluation, a thought partner is focused on helping you maximize your company’s potential. You can expect honest and thorough feedback on everything from managing team dynamics for optimal collaboration to balancing your growth strategy for both progress and financial stability.

Thought partners focus on identifying challenges, encouraging accountability, and helping your team brainstorm creative solutions for improved efficiency, productivity, and progress.

To learn more about the business benefits of thought partnership and an objective outside perspective, visit fitch-consulting.com.