Blog Posts

I want to share a quick story about Tony, one of our consultants in North Sydney.

He’s been getting amazing client results, but last year he came to me and said, “I want to help even more people.”

So, we put a plan in motion.

One of the things we do at Trusted Advisor Network is hold quarterly planning sessions for clients. These sessions are game-changers. Here’s why:

1. Peer Inspiration: Clients hear each other’s wins and immediately benchmark what’s possible for them in 90 days.
2. Simple, Actionable Plans: In one session, clients walk away with a one-page plan—quick, focused, and incredibly effective.
3. Invite Guests: We also bring in other business owners to experience the process firsthand, which lets them see the results our clients are getting and how our content works in action.

Tony started running these sessions last year, and nine months later, he’s crushing it.

His clients are thriving, and he’s even taking some time off in Spain before heading to our 2024 conference in New Zealand.

This is what we’re all about—helping businesses grow and making a real impact in our local communities.

How up to speed do you reckon SME business owners are when it comes to driving sales in today’s economy? Let’s be honest—it’s a skill every business owner needs to master. Yet, I keep hearing the same three challenges popping up over and over again.

1. Over-Reliance on Passive Word-of-Mouth

A lot of business owners are just sitting back, waiting for the phone to ring. And when it does? Great, things are moving. But when it’s quiet, they just chalk it up to “a tough economy.”

Relying purely on word-of-mouth is a recipe for inconsistency. We know there are so many proactive things you can do to keep that phone ringing, yet too many business owners aren’t taking control of their lead generation. If you’re sitting around waiting, it’s no wonder sales are stalling.

2. No Basic Sales System in Place

Here’s a typical scenario: a customer asks, “Do you have X to fix my Y?” The business owner says, “Yep, here’s a quote.” And then what happens? The customer shops around, compares prices, and leaves the owner hanging.

The problem? There’s no structured sales process to move that prospect from inquiry to conversion. Information’s being given away for free, and the owner has no idea if they’ll land the sale. Without a solid sales system, it’s just too easy to lose out on potential business.

3. Paying for Leads Without a Follow-Up System

Many business owners think the solution to getting more sales is to hire a digital marketer to generate leads. Sure, that can work, but here’s the catch—it’s not the marketer’s job to make sure those leads convert into dollars in your bank.

Without a proper follow-up system, leads will slip through the cracks. You end up paying for those leads and the campaigns that drive them, but without a follow-up strategy, you’re just wasting money.

It’s not enough to just bring leads in—you need to nurture them, follow up, and turn them into paying customers.

I don’t know about you, but when I hear about a business challenge, I can’t help but dive in and figure out how to tackle it head-on. That’s the kind of work that really fires me up, and it’s what we’re all about. If you’re someone who gets excited by the thought of solving real business problems, then we should definitely connect.

One thing I get asked all the time is what background works best for coaching or consulting…

First up, experience matters. Aim for around a decade in business—whether you’ve run your own show or played a pivotal role in someone else’s venture. It’s all about fluency in the language of business: sales, marketing, margins, productivity, planning.

But what about style? Well, there are four distinct types to consider: decisive, creative, supportive, and objective.

Decisive types are all about making quick, confident decisions. They’re the ones who lay down the law and lead their clients forward.

On the flip side, creatives thrive on presenting a plethora of well-thought-out options. They’re the idea machines, always brainstorming and offering choices.

Then there are the supportives. They excel at offering encouragement and motivation, minus the cheerleading. They’re there to unpack doubts and build their clients’ confidence, step by step.

And last but not least, we have the objectives. They’re the masters of simplification, cutting through the noise to offer crystal-clear explanations. They’re not here to hold hands; they’re here to make things make sense.

Let’s dive into the distinctions between coaching, consulting, and advisory services, specifically focusing on what really sets them apart in client interactions.

When we talk about consulting, it’s all about leveraging your own knowledge and experience to guide your clients. You’re essentially telling them, “Follow steps ABC to achieve XYZ.” It’s a straightforward exchange where your expertise is the commodity.

But let’s flip the script and consider this from the client’s perspective. Imagine someone advising you on the top three actions for your current projects. You’d naturally evaluate their suggestions, pondering their applicability and your willingness to follow through. Even when experts are consulted, there’s an inner dialogue about the pertinence of their advice to your specific situation, which can affect your commitment to the proposed actions.

This is where the crux of pure consulting lies. If clients lack confidence in the advice, they might not act on it, leading to phrases like “I didn’t start” or “I was unsure.” This hesitation often signifies a lack of belief in the ability to execute the advice without direct assistance.

On the other hand, coaching takes a different tack. It’s about asking clients to identify two or three key actions they can undertake before your next meeting. This approach doesn’t rely on the coach’s expertise in the client’s field but on the power of the right questions to stimulate client-driven action.

Advisory services strike a balance between these two, marrying expertise with a coaching mindset to encourage clients to embrace and act on parts of the advice given. This middle ground is where the magic happens, blending knowledge with empowerment.

For those intrigued by coaching, remember that understanding its principles is one thing, but practicing it is another ball game. When you combine coaching with your expertise, you create a potent mix that’s incredibly valuable to the SME sector.

So, there you have it—an overview of coaching, consulting, and advisory services. I hope this sheds some light on their differences and how they can complement each other. Catch you later!

One question I hear a lot is ‘what’s the difference between coaching and consulting?’…

I’ve put together a quick outline above to clear up any confusion.

Imagine you’re a consultant.

You’re great at what you do, but your work is project-based.

You solve a problem, then you’re onto the next gig.

It’s a cycle of highs and lows, with cash flow all over the place.

Now, coaching is different.

It’s about long-term relationships.

We’ve had clients for years, bringing in steady income month after month.

So, here’s the deal: small businesses need guidance.

They could go it alone or partner with others, but that comes with its own challenges.

That’s where we come in.

We offer expertise without the headaches.

Bottom line: consulting is project-based, coaching is about building relationships.

At Trusted Advisor Network, we blend both for the best results.

If this sounds like it could be your next move, then take a look at our prospectus to find out how you can build yourself a lifestyle business that you can scale…

In the SME community, businesses often get specialist help for specific needs. For instance, they’ll get an accountant for compliance work, digital marketers to get more leads, and HR consultants for recruitment needs.

But as specialists are great in their line of work, business owners need a far broader skill base that covers the entire business… that falls under “Generalist” help.

Consider this: an accountant might identify a decrease in profit margins and attributing it to a bunch of different factors. But a Generalist will be looking for the root cause such as the need for sales training to make sure the focus is on value rather than price.

Similarly, digital marketers might generate a heap of new leads, but a Generalist will pinpoint issues like the absence of an effective follow-up process or sales system.

And in HR, smaller businesses might be budget constrained that prevents them from hiring specialist assistance with the associated costs. A Generalist will provide strategies to improve margins so there’s more money to attract better talent.

These examples highlight the importance of a Generalist perspective in dealing with common issues that affect SME businesses every day. If these are your types of problems that you like to fix, then check out coaching/consulting within the SME community!

If that’s you, then take a look at our prospectus to find out  how you can assist SMEs and build yourself a lifestyle business that you can scale…