Tapping into the Expertise of
Outsiders
Many business owners recognize that they need to spend time thinking about the
big picture--the growth, direction and management of their companies.
Unfortunately, they are either too caught up in the day-to-day work of
running their businesses or too uncertain about their strategic planning
skills to give important issues the attention they deserve.
If you find yourself in a similar position, perhaps you could benefit from some outside
help.
The insights and perspectives of a group of individuals not directly
involved in the day-to-day operations of your business can help you see
things in a different light. These “outsiders” can offer valuable advice on
a range of important issues. You may want to look into tapping the expertise
of a semi-formal group of advisors or an advisory board of directors.
Sources of Help
You can use your own contacts in the community or ask for the assistance of
professional advisors when seeking the names of suitable potential
candidates for your board. Very often, the best candidates can be found
among members of your local business community, successful professionals,
community leaders, entrepreneurs and academics.
Types of Advice
Only you know what issues are significant for the long-term financial health
of your firm. Still, an advisory board should be able to help
you with a strategic business plan, an analysis of your management team’s
strengths and weaknesses and the identification of any improvements that
should be made to your overall operational systems. An effective board can
help you streamline business standards and procedures as well as assist you
with issues related to compensation, best practices, budget planning, cash
flow and overhead.
Our Experienced Professionals
The Somerset Construction & A/E Team of advisors is dedicated to serving the construction, architecture and engineering industries. With our years of experience and knowledge, we can help your management team through the strategic planning process, which is as critical as ever in this challenging economic environment. 2010 is predicted to continue challenging our businesses. Don't wait--strategic planning for 2010 should happen prior to the end of the 2009. Please contact us today for advice and assistance.
Somerset CEO Series
The Somerset CEO Series may be
a more long-term solution for you. Briefly, it is a combination of bi-monthly group
meetings and bi-monthly individual coaching and mentoring sessions over a
period of 20 months. During the program, participants work through an
overall business success system and tools, creating 'The Playbook.' During the group
meetings, there is collaboration and business networking among participants.
Learn more about the program.
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.IndianaConstructionCPAs.com
info@somersetcpas.com