It’s a question many small and medium business owners ask.
Too often, SMEs pay for advice that sounds impressive but hardly moves the needle.
The reality is that SMEs don’t just need advice — they need corporate-strength capability applied in a practical way.
Real business success requires attention across the entire business, including:
- Clear strategy and a practical business and financial roadmap
- Strong leadership, management and people capability
- Marketing and sales effectiveness
- Financial control and performance visibility
- Technology and systems
- Operational efficiency and customer experience
Ultimately, the goal is to build a sustainable business, increase enterprise value, and be exit or sale ready.
Focusing on just one area rarely delivers meaningful results.
Equally important is who is providing the advice.
Many advisors have strong technical knowledge. But business owners should ask a harder question:
Have they actually started, scaled and exited a business themselves?
Real-world experience changes the quality of advice. It brings commercial judgement, pragmatism and an understanding of what actually works.
Good advisory should be strategic, holistic, practical and implementable.
Business owners: what has been your experience with business advisory, what worked and what didn’t?
Our colleagues share their practical insights:
Joseph Essey
SME’s, Family businesses, Fast growing businesses – they all have their own DNA. Businesses need to work with advisors that understand them. How can you validate this? Testimonials, speak with others that have used them, check their website. Most importantly – talk with them! Do they speak your language and understand your business model.
Graham Sander
Small to medium businesses, why do 80% fail in the first five years?
Questions I often ask to get conversations started are:
- Do you have a budget which becomes your target?
- Do you measure actual results against this budget?
- Do you engage regularly with your employees? Open communication is vital
Jason Tjoeng
From a digital strategy perspective, SMEs often lack structure, tracking and integration across marketing and systems. Effective advisors align digital with business goals, implement CRM and reporting, and ensure marketing drives measurable revenue. The focus should be on scalable, data-driven systems that support consistent growth, conversion and long-term enterprise value.
George Mavros
From a sales, marketing and IP perspective, good advice must create commercial traction and protect enterprise value. Strategy matters only when it converts to customers, margins, and defensible assets. The best advisors integrate growth, brand and IP, helping owners ask the right questions and make decisions that drive revenue today while building long-term value and optionality.
Lina Tjoeng
From a legal perspective, SME owners should seek advisors who provide not only legal expertise but clear, practical guidance that supports informed decision-making and risk management. True value lies in holistic, commercially grounded advice that builds confidence, ensures compliance, and strengthens long-term business sustainability.
Martin Collins
Sustainable business planning ensures your business continues to trade and maintain value even if you are unable to work. Have an Enduring Power of Attorney in place the right people to manage your business if you are unable to do so. Have will in place to ensure your family obtains the benefit of your work.
Milind Kulkarni
From an IT lens, the best advisors bridge strategy with execution,especially in tech and data. It’s not about flashy tools, but measurable outcomes. Have they implemented systems that actually improved margins, efficiency, or decision-making? Real capability shows in results, not reports.
Matthew Lee
Advisors often recommend changes to business structures e.g. changing from a sole trader to a company. Whilst a company can offer a lower tax rate and limited liability there is a significant increase in the administrative and regulatory compliance obligations. A good advisor will clearly explain it.
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Eric Tjoeng – CEO, Business Growth and Exit Specialists
Top SME Business Exit Specialist to Watch in 2025/2026
2025 Best Business Growth Services & Advisors in Australia
Top 10 SME Business Advisors to Watch in 2024
Top 10 Strategic Planning Services Companies in Australia in 2023
