Ultimate Guide to Business Advisory in Australia (for 2024)

In this comprehensive guide, we’ll explore what Business Advisory is, why it matters, and how it can benefit your business in Australia.

What is Business Advisory?

Business Advisory is a professional service where a Business Adviser provides a business with expert guidance and strategic business advice. Through Business Advisory, businesses are able to understand their problems, navigate business challenges, make decisions based on information, data and the experience of the Business Adviser, structure in the correct way, improve their cash flow, and achieve their goals. Business Advisors work closely with their clients, offering advice, insights and solutions tailored to their needs and circumstances at that point in time.

Understanding Business Advisory

Many businesses today will need Business Advisory at some point in time. It’s not just about having an idea, starting a business, getting cash flow, and then growing your business.

Many more stages of your business and dozens of steps are required to ensure your business can thrive and prosper. Because, like everyone, you want your business to bring you a decent profit.

To achieve this, you need to:

have a viable business idea in a niche that isn’t saturated (and will give you the best possible chance of success)
factor in your personal skills and attributes, as well as your business acumen and commercial knowledge
structure your business properly (and re-structure as necessary when you grow through the different business stages)
identify the best type of funding for your startup business and procure that funding (read our Ultimate Guide on Startup Funding to learn about this subject in detail)
stay ahead of your competition (and to do this, you need to be an expert in a number of different industry matters)
be a “jack of all trades” when you first start your business
then learn how to be a good manager and delegator
become an expert in sales, marketing, business development and bidding
take a step back from management into leadership as your SME grows
learn to work with a Board and/or an Advisory Committee
set up your internal business structures properly, including a Finance Team, a Procurement Division and a Legal Division
move into the large business mindset, with a more bureaucratic way of running the business.

This is where Business Advisory comes in.

It is difficult, if not impossible, for business owners without degrees in business and management to carry out all of the above tasks, while running their business day to day.

Business Advisory is an essential service that can significantly impact the growth and sustainability of businesses, whether small and medium-sized enterprises (SMEs) or large businesses.

How can Business Advisory help Business Owners and Executives?

By engaging a Business Advisor and getting help with Business Advisory, business owners and executives can get help with strategic insight, business strategy, finances and cash flow forecasts, business structuring, compliance, strategic planning, and much more.

Through Business Advisory, owners and business leaders are able to access a deep and varied understanding of their industry. They can brainstorm their big decisions, get help to deal with their business challenges, address problems they are having with the business, re-structure, ensure compliance, put proper functions, processes and procedures in place, get help building Business Divisions, and have someone to rely on and help remove some of the stress they face when doing all this on their own.

That’s where Business Advisory Services come into play – read more about Blaze Business & Legal’s Business Advisory Services here.

The best Business Advisers

For your Business!

We work with you. To help your business work for you

We are skilled Business Advisers and both Rachelle Hare and Shannon Drew have advised thousands of businesses in Australia over our careers.

In Blaze Business & Legal, we combine Business Advisory with our expertise in other areas (including Construction Law and Commercial Law) to provide you with broad advice that works for your business in your industry…with no gaps!

But we don’t just advise and make recommendations.

We then work with you to implement our recommendations and get actual outcomes and results for your business.

Read our Essential Guide on Business Challenges

Business Advisory generally relates to the giving of advice, strategies, recommendations and solutions. However, it is not usually intended to refer to the process of implementing those recommendations and solutions.

Blaze Business & Legal:

Provides Business Advisory to small, medium and large businesses; and
Helps their clients to implement their recommended solutions and carry out the work to fix their problems and business challenges.

We are invested in the success of our business clients, so we don’t limit ourselves solely to Business Advisory.

Contact us today for a free 30 minute Strategy Session

Why is Business Advisory Important?

Navigating Uncertainty: The business world is filled with uncertainty. Business Advisors help you anticipate and navigate challenges, ensuring your business remains resilient in the face of economic fluctuations and industry shifts.
Strategic Planning: Successful businesses are built on solid strategies. Business Advisory assists in developing comprehensive strategic plans that align with your business objectives.
Financial Management: Managing finances is critical for any business’s success. Business Advisors offer financial expertise, including cash flow optimisation and funding strategies, to ensure your financial health.
Unlocking Opportunities: Business Advisors have a keen eye for identifying hidden opportunities. They help you capitalise on these prospects, enabling your business to thrive.
Tailored Solutions: Every business is unique. Business Advisors provide tailored solutions that address your specific challenges and goals, whether it’s compliance, value maximisation, or process improvement.

At Blaze Business & Legal, we do all of these things and more!

How Business Advisory Works

Business advisory services typically involve:

Assessment: Business advisors begin by thoroughly assessing your business, industry, and financial health.
Goal Setting: Based on the assessment, clear business goals and objectives are defined.
Strategy Development: Advisors work with you to develop a strategic plan that outlines steps to achieve your goals.
Implementation: Once a strategy is in place, advisors assist in implementing it effectively.
Ongoing Support: Business advisors provide ongoing support, monitoring progress and adjusting strategies as needed.

When to Consider Business Advisory

Startups: If you’re launching a new business, business advisory can help you lay a strong foundation for growth.
Growth Phase: Growing businesses often face unique challenges. Advisors can guide you through expansion while minimizing risks.
Succession Planning: Planning for the future of your business or leadership changes is crucial. Business advisory services can help with smooth transitions.

Choosing the Right Business Advisory Partner

Selecting the right business advisory partner is essential. Look for:

Local Expertise: A deep understanding of the Australian business landscape.
Tailored Solutions: A commitment to providing personalized advice.
Proven Expertise: A track record of helping businesses succeed.
Trust and Communication: A strong client-advisor relationship built on trust and open communication.

Things our Clients say…

Anne

CFO, Large Construction Company

The team at Blaze Business & Legal have been instrumental in turning our business around. Their strategic insights and hands-on approach have made the biggest difference – sales are up, we have a better insight into our pricing and our staff are happier. I’ve tried offering Shannon and Rachelle jobs at our company, but nope, they said something about wanting to help other businesses as well. Sigh!

Improve your Business with comprehensive Business Advisory for sustainable growth!

Strategic planning and informed decision-making are crucial for sustainable growth for your business.

Our expert advisers are here to guide your business through its challenges and opportunities. Whether you are looking to optimise operations, manage risks, or scale your business, our tailored services are designed to align with your unique goals.

And we help you set those business goals as well.

Read about our Business Advisory Services

Our Business Advisory Services include…

Strategic Planning

We provide in-depth strategic analysis to identify challenges and opportunities, followed by actionable solutions that align with your business objectives.

Business Strategy

Developing Business Strategy
Long-term Strategic Planning
Drafting a Strategic Improvement Plan
Business Model Innovation
Market Analysis and Entry Strategies

Starting a Business

Business Analysis

SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
Competitor Analysis
Customer Segmentation
Performance Analysis

Problem Solving and Solutions

Identifying Business Challenges
Resolving Business Challenges
Brainstorming Solutions
Implementing Solutions
Monitoring and Evaluation

Board and Governance

We offer expert guidance and support in establishing effective board strategies and governance policies that align with your business’s goals.

Board Strategy and Direction

Advising on Board Strategic Direction and Implementation
Alignment of Board Direction with Employee KPIs, Position Descriptions, and Employee Performance
Supporting Board Committees
Attending Board Meetings and Holding Board Positions

Governance Policies and Procedures

Drafting Policies and Procedures to Give Effect to the Strategic Policy of the Board
Acting as Internal Head of Governance
Acting as Company Secretary

Risk Management

Our risk management services focus on identifying, analysing, and mitigating risks to protect your business and ensure its long-term sustainability.

Understanding Risk

What is Risk?

Risk Analysis

Identifying Potential Risks
Assessing the Impact of Risks
Risk Reporting

Risk Mitigation

The Role of Contracts
Developing Risk Mitigation Strategies
Implementing Risk Mitigation Plans
Monitoring and Adjusting Risk Mitigation Strategies

Read our Comprehensive Guide to Risk Management

Compliance

We help businesses develop and implement compliance strategies, ensuring adherence to regulatory requirements and preparing for audits.

Read our Essential Guide to Compliance for Businesses in Australia

Compliance Strategies

Developing Compliance Strategies
Implementing Compliance Plans
Monitoring Compliance

Regulatory Compliance

Understanding Regulatory Requirements
Ensuring Adherence to Regulations
Preparing for Regulatory Audits

Legal Advisory

Our legal experts provide comprehensive Contracts, Commercial Law and Construction Law / Major Projects advice, and Contract Drafting services to safeguard your business interests and ensure legal compliance.

General Legal Advice

Miscellaneous Legal Advice on Corporate and Commercial Matters
Advising on Legislation

Acting as General Counsel

Providing General Legal Counsel Services

Drafting Contracts

Creating Contract Templates
Drafting Contracts for Specific Transactions
Reviewing and Revising Contracts

Commercial Advisory

We help businesses to develop commercial strategies and conduct negotiations to maximise profitability and market presence.

Commercial Strategy

Developing Commercial Strategies
Market Analysis for Commercial Opportunities
Pricing Strategies

Audit Recommendation Implementation

We help you to implement the recommendations from Audit Reports

Commercial Negotiations

Negotiation Strategies
Conducting Negotiations with Partners, Suppliers, and Customers
Closing Deals

Conflicts of Interest

Financial Management

We help you make financial decisions to improve your financial operations and increase your bottom line.

And we help you understand Why Does my Business Lose Money?

Strategic Financial Advisory

Financial Planning and Analysis

Understand 14 Financial Red Flags in your Business (and what to do about them)

Management Accounting / Cost Accounting

Check out our innovative Cash Flow Boost Calculator

Budgeting
Cashflow Forecasting
Cost Analysis and Control
Financial Reporting

Find out how to stop your business losing money on a construction project

Acting as External CFO

Overseeing Financial Operations
Strategic Financial Decision Making
Financial Reporting and Compliance

Procurement and Probity

We offer specialised services in procurement planning and probity, ensuring that your procurement processes are efficient, transparent, and in compliance with best practices (including for government).

Procurement Strategy and Planning

Strategic Advice on Project Planning and Scoping
Drafting Procurement Documents
Reviewing and Revising Procurement Documents

Probity Advisory

Advising on Probity During Procurements
Providing Strategic Probity Advice
Acting as Probity Adviser

Contracting and Project Management

Our team specialises in contract management and project management, ensuring that your contracts and projects are carried out efficiently and effectively.

Contract Management

Contract Management
Contract Administration

Project Management

Project Planning and Scheduling
Resource Management
Project Monitoring and Reporting
Project Closure and Evaluation

Human Resources Advisory

We provide comprehensive human resources advisory services, focusing on employee development, performance management, employee relations, and compensation strategies.

Employee Training and Development
Performance Management
Employee Relations
Compensation and Benefits

Change Management

Our change management services are designed to help your business effectively manage change, with strategies that include assessing the need for change, developing and implementing Change Management Plans, and evaluating the impact.

Assessing the Need for Change
Developing a Change Management Plan
Implementing Change Strategies
Managing Resistance to Change
Monitoring and Evaluating the Impact of Change

Sales and Customers

We help businesses develop sales strategies and manage customer relationships to drive revenue growth and customer satisfaction.

Sales Strategy

Developing Sales Strategies
Sales Funnel Management
Pricing and Discount Strategies

Customer Relationship Management

Building and Maintaining Customer Relationships
Customer Feedback and Satisfaction Analysis
Implementing Customer Loyalty Programs

Operational Advisory

Our operational advisory services focus on process improvement, supply chain management, and operational efficiency to enhance your business operations.

Process Improvement and Optimisation
Supply Chain Management
Operational Efficiency Analysis and Boosting Operational Efficiency
Implementing Operational Best Practices

Training and Development

We offer tailored training and development programs, including coaching, mentoring, workshops, and one-on-one training, to empower you and your team and develop their skills.

Coaching and Mentoring

Training, Coaching, and Mentoring Services
Mentoring and Coaching Senior Executives and Employees

Workshops and Training

Workshops and One-on-One Training in Procurement and Probity, Contracts, and Legal Matters

Businesses we Advise

What are Business Advisory Services?

Ever wondered what all those Consultants are talking about? Check out our post on what are Business Advisory Services.

Here’s a useful post about Leveraging Business Advice for Growth

Industry-Specific Services

Our Business Advisory services are tailored to meet the unique needs of various industries. Whether you operate in construction, healthcare, technology, manufacturing, healthcare, retail, or any number of industries, our experts understand the nuances and challenges specific to your industry.

Here are some of the Industries in Australia where we support our clients

We get the issues that you are dealing with.

And we provide specialised insights and strategies that cater to the industry-specific regulations, market trends, and customer preferences.

Leveraging Technology and Innovation

In the modern business environment, technology and innovation are key drivers of success. Our Business Advisory services help you leverage cutting-edge technologies and innovative strategies to streamline operations, enhance customer experiences, and gain a competitive edge.

We assist in integrating technology solutions that align with your business objectives and drive efficiency.

Risk Assessment and Management

Our Business Advisory services include comprehensive risk assessment and management solutions.

We help you identify potential risks, develop mitigation strategies, and ensure that your business is well-prepared to handle uncertainties.

From financial risks to operational and strategic risks, our team of experts provides you with the tools and insights necessary to navigate challenges effectively.

And with 23+ years as a practising Commercial, Contracts and Construction Lawyer, Rachelle Hare can also help you assess and mitigate your risks from a legal perspective.

Regulatory Compliance

Navigating the complex web of regulations within Australia is critical for any business.

Our Business Advisory services include compliance solutions that ensure your business adheres to legal and regulatory requirements, avoiding penalties and safeguarding your reputation.

We assist in understanding and complying with industry-specific regulations, corporate governance standards, and legal obligations.

Sustainability, Corporate Social Responsibility (CSR)

In an increasingly conscious market, sustainability and CSR are vital. Our Business Advisory services include strategies for implementing sustainable practices and CSR initiatives that not only benefit the environment and community but also enhance your brand image and customer loyalty.

We help you integrate sustainability into your business model, creating value for stakeholders and society.

Environmental, Social, and Governance (ESG) Advisory

In today’s business, Environmental, Social, and Governance (ESG) factors are increasingly significant in driving sustainable growth and value creation.

Our Business Advisory services include ESG advisory, where we assist businesses in integrating ESG principles into their strategies and operations.

From environmental sustainability and carbon footprint reduction to ethical business practices and corporate governance, our ESG advisory focuses on aligning your business objectives with responsible and sustainable practices.

By embracing ESG, your business can not only contribute positively to society and the environment but also build trust with stakeholders, enhance brand reputation, and unlock new opportunities for growth and innovation.

Why Choose Us

Our team of experts provides you with the knowledge and insights needed to make informed decisions. We understand that each business is unique, and we tailor our services to meet your specific needs.

Our holistic approach ensures that all aspects of your business are aligned and optimised for success.

Benefits of Working with Us

Practical business focus
Combined Business and Legal Services
Expert Guidance
Customised Solutions
Risk Management
Operational Efficiency
Strategic Focus

All of our team own businesses too – we understand the realities you need to deal with on a day-to-day basis.

We can help you with….

Procurement Advice
Pricing Strategy
Sales Strategy
Strategic Project Advice
Carrying out Projects

Financial Growth
Management Accountant
Costs Accounting
External CFO
Tendering
Business Development

Contracting Strategy
Risk Advice
Risk Management
Compliance
Commercial Advice
External Commercial Manager
Contract Management

Government Contracting
Conflicts of Interest
Probity Advice
Defence Contracts and ASDEFCON
Contracting with Councils
Infrastructure, Civil, Construction, Mining
Water / Wastewater Projects

Read some of our interesting articles about Business Advisory and running your Business

Business Strategy

How to engage a Business Lawyer

Essential Tips for Engaging a Business Lawyer

Working with Consultants and Advisors

Starting and Buying Businesses

Guide to Construction Contracts in Australia

Guide to Construction Contracts in Australia

Industries in Australia Where We Support Our Clients

Industries in Australia Where We Support Our Clients

Business Insights and Survival Guides

Capability Overview

Our capabilities encompass a wide range of services designed to support your business in achieving its objectives.

These include strategic analysis, compliance and financial advisory, operational optimisation, risk management, board and governance support, human resources advisory, customer relationship management, commercial advice, change management and project implementation.

Examples of Our Work

Here are some recent projects / case studies that demonstrate how our Business Advisory services have positively impacted businesses across various industries…

Case Study: Construction Company

Challenge: A medium to large construction company in Queensland faced challenges in scaling operations and managing financial risks.

Solution: Our strategic analysis identified key areas for improvement. We implemented risk mitigation strategies and provided operational guidance.

Result: The construction company saw a 17% increase in revenue and significantly reduced operational risks over 18 months.

Expertise and Experience

Our team of experts brings a wealth of experience across various industries. With backgrounds in finance, law, business, strategy, operations, risk, procurement, commercial, compliance, and more, our advisers provide a multidisciplinary approach to solving complex business challenges.

Our expertise enables us to offer innovative solutions that drive sustainable growth.

Share with your Network!

Let’s chat about how we can help your business

Free Initial Consultation
No-Obligation Quote for our Services
We Work to your Budget and Timeframes

Call Rachelle Hare on 0407 050 907 or fill out the form below and we’ll contact you

Not quite ready to chat?

Take our free Business Quiz

Identify some of the challenges in your Business
Get no-obligation suggestions from us about how you can overcome those challenges

About the Author

Rachelle Hare – Managing Director and Principal Practitioner of Blaze Business & Legal

Rachelle Hare

Rachelle Hare is a highly experienced Construction Lawyer and Contract Lawyer, with over 23 years of experience in Tier 1 and Tier 2 Construction Firms, Top Tier Private Practice and Government.With 23+ years of experience as a Senior Lawyer, Strategic Contracting Adviser and Management Consultant in Construction Law, Contracts, Major Projects, Commercial Advisory, Compliance, Procurement, Contract Management and Risk Management, Rachelle has the rare skills to offer you seamless business advice and legal advice to help support your organisation.

As well as a Lawyer and Business Adviser, Rachelle has also acted as a Strategic Procurement Adviser, Compliance Manager, Strategic Risk Adviser and Commercial Manager.Rachelle owns Blaze Business & Legal, a combined Commercial Law Firm and Business Advisory Firm located in Brisbane, Queensland, Australia. Blaze Business & Legal assists a broad range of clients in the Construction Industry and related industries, and advises owners, contractors, subcontractors, NFPs and other organisations on a broad range of Construction Law, Commercial Law, Business Advisory and Management Consulting issues in Brisbane, Queensland and around Australia. Rachelle also owns Blaze Professional Learning, where she offers practical contracting skills, hands-on experience in drafting and working with contracts, and industry insights to help Professionals upskill and advance their careers with real-world skills.

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Rachelle Hare

April 27, 2024