Case Studies

When Business advice goes wrong

Why is it so important that Confident Consultants are amongst the best advisors any enterprise can hire?

Consider the four cases below, where business owners were left broke or vulnerable as a direct result of poor advice from a ‘consultant’:

 Real-life example 1

Someone who I knew a little rang and asked if I had time for a coffee. We met and after the initial niceties I noticed he didn’t look happy – so I asked him how he was doing. He quietly told me that he’d gone bankrupt. He’d lost his business, his home – everything he’d worked decades to achieve. It was all gone.

He had been working with two advisors and was following their guidance. We tend to assume that those offering professional advice know what they are talking about – that they are the experts. It’s a fair assumption, so we take any guidance they give as ‘good advice’. Sadly this is not always the case.

Unfortunately, my acquaintance’s business spiralled into trouble and he was forced into bankruptcy. With hindsight he realised it was quite needless. His awful situation was a direct result of the poor ‘advice’ he had been given.

This was a difficult tale to hear, as I could clearly see where it had gone wrong and realised a basic business ‘health check’ would have avoided this travesty. That health check is now included in The Confident Consultant toolkit.

 Real-life example 2

I heard a very similar story from another acquaintance. They had watched their business fail and been forced into bankruptcy, also losing everything. Again they had received poor, misleading advice.

In both of the above examples, it was tragic to see good people who had reached midlife suddenly find themselves penniless despite a lifetime of hard work.

They were both proud parents left dealing with the extraordinary stress of wondering how they would look after their family.

 Real-life example 3

I met a business trainer and coach who also provided consultancy for her clients. I was shocked how limited her knowledge was and also the way she had set up her own business – she was open to losing everything, yet was dispensing ‘advice’ to others.

 Real-life example 4

A former colleague of mine phoned one evening excited about the new work she had just won. We seldom spoke about work but on this occasion I asked a few questions and realised that her accountant had give her some appalling business advice – so poor in fact that I can remember it stopped me in my tracks and I sat on a churchyard wall to give her clear instructions on what she must do…within the next 24 hours.

These true stories are why I’m so enthusiastic about helping people like you to become the best consultants possible. You are needed.

How does The Confident Consultant help me to avoid these mistakes?

The Confident Consultant® is built on solid foundations. It makes use of tried and tested, high-quality business methods. The material ensures that you can analyse and understand the organisation you’re working with, which allows you to guide a client to take sound, relevant actions that will make their business more robust.