Frequently Asked Questions

Q: What does it cost?

A: The cost of a business advisor should be viewed as an investment rather than an expense. In this regard, there should be a very clearly measured ROI (or return on investment). Growth Associates* holds a rule of thumb of not embarking upon a client relationship unless both parties can envision a second year, pre-tax return of three times investment. In the case of ownership transitions, a much greater measure can very often be contemplated.

Q: Am I financially committed to a long-term contract:

A: Although the spirit of the understanding is to work together for twelve months or more, the Growth Associates* advisor agreement allows a client to stop at any point. In fact, if after commencing, it becomes apparent that, for whatever reason, a satisfactory return is not possible, either party can suggest discontinuing.

Q: How does the process begin?

A: Simply contact Growth Associates* (formerly Growth Advisors Niagara by the way) to make an appointment. We will typically send you a questionnaire that will take less than 30 minutes to answer and, from that, we will prepare a confidential, written assessment of your business. Upon meeting, we can then determine both your individual needs and whether there may be a fit with an appropriate Growth Associates* programme.

Q: What criteria determine if Growth Associates* is right for my company?

A: Not all client/advisor relationships will work and neither does Growth Associates* hold boundless resources to service your particular market. As such, three critical factors should be considered before committing to Growth Associates*: a) Can the organization strategically grow in sufficient time to justify the investment, b) Is the Business Owner open to personal development and change, and finally, c) Is there a fit between the Business Owner and the Advisor in question?

Q: As a successful business owner, how can Growth Associates* prepare my business for an eventual ownership transfer?

A: Many owners believe that their business does not operate effectively without their continual presence. If that’s truly the case, what is the business worth? In these circumstances, sad but true, a sudden absence of the owner would only return a “fire sale” value of assets alone. In order to gain full benefit from a future stream of earnings valuation, the business must demonstrate how it will smoothly function for a new, less experienced buyer/manager. Either a One-on-One Advisory Service or an Ownership Transition Workshop will allow you to focus on this (and many other important aspects).

Q: I’m confused about the term “coaching”, with what seems to be a multitude of conflicting services?

A: Not surprisingly confused, “coaching” has become an overused term that can mean many things. There are: life coaches, executive coaches, career coaches, health coaches, personal coaches, sales coaches, transition coaches, leadership coaches, ADD coaches, mentor coaches, management coaches, real estate coaches, retirement coaches and so on. As for business coaches, anyone with no real proven business education and applied management background can actually pose as a “Business Coach”. In other words, be careful in your selection. Approaching well recognized certifying bodies, such as the Professional Business Coaches Alliance, is a good place to start. Then, before trusting someone with costly fees and your business future, why not do some credential research and reference checks to prove them out.

Q: What types of businesses and industries does Growth Associates* support?

A: The foundation blocks of any business are in many ways astoundingly alike. In that regard, provided your advisor has had sufficient prior experience in personally managing a good variety of businesses, you will not be at a loss. Over and above this fact, Growth Associates* has access to a wide array of resources from which to drawn industry specific ratios and performance factors.