One of my business philosophies has been to learn from other successful companies and/or people, and certainly do not ‘reinvent the wheel’
There are numerous opportunities for business success providing you blend your innovative thinking with others who have achieved success both nationally and internationally.
As I travelled the globe establishing JV’s, Licensing and technology agreements, it gave me a great privilege to view first hand best practice in a range of industries which could be adapted to add substantial value to business in Australia.
I also established clear boundaries for those I sought advice from. I would only select those mentors/advisors who could relate to my staff through personal experience and success. In other words, they had to have ‘been there’ and ‘done that’ and made it happen.
Credibility in mentoring/advising businesses is not through a so-called expert reviewing a business, writing a fancy report and then leaving that business to flounder through the report recommendations. It is all about the mentor/advisor having the desire to work with you and assisting things to happen. Too many consultants walk away and say their recommendations didn’t work because the business didn’t manage it properly.
I have seen this scenario repeat itself time and again. Investment made in consultancies with absolutely no post-investment review and/or accountability.
Australia can be competitive with the rest of the world providing you don’t ‘reinvent the wheel’ and by utilising experience and success from an independent industry expert who not only relates to your business through their successes but can also relate to your improvement strategies through their failures.