Today, I want to talk about objectivity and expertise in business.
As business owners, we often get so close to the challenges we face that we can't see the bigger picture.
You’ve probably heard the saying, "You can’t see the wood for the trees", meaning that when you’re too immersed in something, it’s hard to see what really needs to be done.
Whether you’re trading under a lot of pressure, dealing with finances, systems, or customer expectations, or whether you’re thriving, having a solid plan is essential.
But too often, people seek objectivity too late, when they’re already in trouble. Objectivity is something you should incorporate early on, long before you find yourself at a crossroads.
I believe having experienced guidance can make all the difference. This could come from business mentors or coaches who have lived through the highs and lows, scaled businesses, sold them, franchised them, and still continue to invest in and grow businesses today.
Expert Guidance
There’s no selling pitch here, you know what I do, you follow my stuff.
I have a hybrid business management program and I’m a non executive high-end player, but that’s not what this is about today.
I just want you to start looking around you in your network of associates, maybe other business owners that you aspire to be or you admire.
I’m not talking your Richard Branson’s, or the Dragon’s(which is a staged TV show for entertainment purposes) a pantomime at best.
I’m talking about maybe a guy or girl in the local community who’s really doing well in business.
Good, solid foundation, strong reputation, maybe on some type of mentoring program like what I do, I’ve been a mentor for HSBC Young Enterprise program.
Somebody’s who’s really respected and been there and done it, and not blagged it, if I’m being totally honest.
What exactly is objectivity?
It’s about having an external, experienced person step into your business, assess it, and give you a clear and unbiased view.
Whether your business is thriving, and you’re managing growth, or struggling with cash flow and operations, objectivity helps you understand the real issues.
This person will listen to you, detach themselves from the emotions involved, and give you the honest truth.
Maybe your company is doing great and you just need help scaling up, or maybe you’re facing obstacles and need an immediate fix.
Either way, an objective opinion is invaluable.
When you’re stuck in the weeds, it’s easy to become biased in your own narrative, filling in the gaps to justify your current situation.
But an experienced business advisor can strip that away, helping you see the real causes of your success or struggles.
From there, you can make decisions based on facts, not assumptions.
I remember when we grew our business from 2001 to 2003, from a complete startup to £4.4 million in sales.
We were struggling to hit our target, facing a lot of roadblocks, even though we had a good amount of cash in the bank.
But the value of objectivity became obvious.
Getting a second opinion from someone who’s been there, someone who knows the ropes and can offer both advice and hands-on assistance was the difference maker.
There’s nothing like having someone who understands the nuances of running a business guide you through the tougher times or help you sclae higher where different skills, people and demands are required.
Let me share a story about someone who helped me significantly, Bill McGrath.
Bill was an experienced business leader and my non-executive director (NXD) for several years.
I met Bill when he was in his 60s, and even though I’d had some successful exits by then, I still learned so much from him.
He had experience as the CEO of Wickes Europe and the UK MD of Comet Electrical, among other prestigious roles in the FTSE public companies.
He knew how to navigate complex business models, and more importantly, how to scale them.
We had been stuck at £4.4 million for over a year.
Our growth was stagnating, and no matter how much we tried, we couldn’t break through that barrier. But after working with Bill, he dissected our business in 20 minutes, yes 20 minutes!!!
Analyzing it in ways that the banks and our accountants hadn’t been able to in four years.
That moment was a game-changer for us.
Bill’s involvement helped us grow to £12 million inside 18 months. The insight he provided was invaluable, and his approach changed the way I ran the company.
Bill wasn’t just a Non Executive Director, he was a partner who rolled up his sleeves and got involved.
His objectivity and expertise helped us see things clearly and move forward with actionable solutions.
When you bring in objective advice, it can transform your decision-making and, ultimately, your bottom line.
Here’s why you need to consider it:
But the important thing is this: Don’t wait until it’s too late.
Objectivity is valuable at every stage of your business journey—whether you’re scaling, solving problems, or optimizing your systems.
As a Non-Executive Director (NXD), I always advise my clients to be careful with equity.
Don’t give away shares to non-execs. Objective advice loses its value once you tie someone too closely to the business financially.
Non-execs need to remain detached in order to provide impartial, unbiased advice.
I’ve seen businesses where equity stakes were given to NXDs, and while it may seem like a good way to incentivize them, it often results in the loss of objectivity - and that’s when things can go sideways.
As a business owner, the value of objective advice can’t be overstated. ||
Whether your business is in a growth phase, or you’re working through challenges, having an experienced guide can make all the difference.
Look for people who’ve been there and done that, people who can provide value without the bias of ownership or self-interest.
If you’re struggling to grow, if you feel like you’re stuck, or if you just want to scale faster, seek objective advice.
Don't wait until it's too late. Bring it in early and let it guide you through the complexities of running a business.
And if you can’t afford one-on-one coaching or consulting, get involved in a mastermind group. You’d be surprised at the value you can get from like-minded business owners, sharing experiences and learning from each other.
As I always say, you don’t need to do it alone. Make sure you’re not just surviving, but thriving.
Always here to help you start, grow, and thrive. Let me know how I can support your next big move.