Wyoming Business Tips for June 18

A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.

By Bruce Morse, WSBDC northwest regional director

“I have heard of people who have business advisers. Is that something I should consider, and how does it work?” Jeff, Cody

Having a business adviser can be looked at a number of ways but, essentially, it is another perspective or outside view of your business.

This person could be someone in your industry who can share how he or she might approach a similar challenge, or someone from a totally different industry but similar role (CEO, manager, etc.) who could provide suggestions or thoughts from that perspective. Or, it could be a mentor you have had along the way. Of course, it also can be a professional consultant or coach.

Some of these, like a professional, might cost you a little money, or perhaps it can be as simple as buying someone lunch or a cup of coffee and asking for his or her feedback.

For example, you might feel that generating more sales is your biggest challenge. Sometimes, the root cause of a problem might be entirely different. In this case, perhaps it is the product or service that is not up to customers’ expectations.

Or, maybe you need a full-time salesperson to promote the product because you tend to get pulled in too many different directions to focus on it properly. It also could be a marketing mix or pricing problem. An outside adviser who is not blinded by the day-to-day activities within the business often can ask the right questions to help you uncover the real problem, and possibly the solution you have been seeking.

A local SBDC Network representative could be one of those independent coaches or business advisers. We provide no-cost, confidential services and can ask probing questions that help your business live up to its potential.

A blog version of this article and an opportunity to post comments are available at www.wyomingsbdc.org/blog1/.

The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email wsbdc@uwyo.edu, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.