Do You Need Business Advisory Services?

Most businesses need more than just a tax return – they need a business advisor. A tax return will tell you how much you made, how much you spent, and what you owe to the ATO. That’s compliance. It’s essential, but it’s not a business strategy.

Compliance is what most accountants do. But it doesn’t help you make better decisions. It doesn’t stop you from making the same mistakes next year. And it definitely doesn’t help you grow your business.

That’s where business advisory services can help.

A good business advisor doesn’t just look at your numbers, they help you understand what those numbers mean for your business. They spot the problems and opportunities most tax accountants miss.

Their role is to help you improve your profit margins, cut expenses, manage KPIs, and set business goals, all while keeping you accountable.

Think of it like this: your accountant is the scorekeeper, and your business advisor is the coach.

Here’s how a business advisor can help you:

You won’t be wondering where your cash went or why you’re working harder but not seeing more profit. You’ll know exactly what’s working, what’s not, and what needs to change.

A business advisor helps you make better decisions. Should you hire that extra staff member? Can you afford to expand to a second location? Is your pricing too low or too high? They’ll give you real data to back up your decisions.

A business advisor helps you plan ahead instead of reacting to problems.

They also help you stay accountable to your goals. It’s easy to say you want to grow. It’s harder to stay focused and actually make it happen. A business advisor keeps you on track and makes sure you’re taking action in the right direction.

If you’re serious about building a business that’s profitable and sustainable for years to come—you need more than a tax return. You need a financial expert in your corner who understands your numbers, knows your industry, and can help you achieve your goals.

What Does a Business Advisor Do?

In simple terms: a business advisor helps you understand your finances and shows you how to use that information to grow your business. They’ll help you understand what’s happening right now and plan for what comes next.

This is what business advisory services look like in practice:

1. A business advisor helps you understand your financial data.

You don’t need someone to tell you that you made $500,000 in revenue last year. You need someone to explain why your profit margin is only 8% when it should be closer to 20%. You need to know which jobs are making you money and which ones are costing you.

2. They help you set clear goals and financial targets.

A business advisor helps you figure out what growth actually looks like. Do you want to increase revenue by 30%? Improve your profit margin by 10%? Build up 12 months of cash reserves? They’ll help you set targets and KPIs that make sense for your business, and track whether you’re hitting them each quarter.

3. They identify bottlenecks and opportunities for growth.

Maybe you’re losing money on materials because you’re not buying in bulk. Maybe your pricing hasn’t changed in three years, but your costs have gone up 15%. Maybe you’re turning down jobs because you don’t have enough staff. A good business advisor spots these things and helps you turn them around.

4. They manage cash flow and profitability.

Cash flow is the number one reason small businesses fail. Not because they’re unprofitable, but because they run out of cash at the wrong time. A business advisor helps you forecast when money’s coming in and going out, so you’re never caught short when the ATO bill or staff superannuation is due.

5. They plan for tax, staffing, and expansion.

Your tax bill shouldn’t be a surprise. Neither should the cost of hiring someone new or expanding into a second location. A business advisor helps you plan ahead, so you’re making decisions based on what you can actually afford.

Here’s the simplest way to explain it: While your accountant looks back, your business advisor looks forward.

Your accountant tells you what happened. Your advisor tells you what to do next. In practice, that might look like:

• Monthly or quarterly meetings to track your performance against targets
• Real-time data analysis through Xero, MYOB, or QuickBooks
• Strategy sessions on pricing, margins, and cost control
• Forecasting, budgeting, and scenario planning (like “what happens if I hire another employee?”)
• Advice on business structure, cash flow management, and business health checks

It’s like having an expert CFO without paying a full-time salary.

If you’ve ever asked yourself:

• “Why do I feel busy but not profitable?”
• “Where’s all my cash going?”
• “How do I grow my business without burning out or overextending myself?”

Then you don’t just need an accountant. You need a business advisor.

How Business Advisory Services Can Help Small Businesses

Many small business owners make decisions based on gut feel. Sometimes, that works. But sometimes, it doesn’t.

A good business advisor helps you see the story behind your numbers.

They’ll look at your profit and loss and tell you why your labour costs are eating into your profit margins. They’ll look at your cash flow and explain why you’re always short at the end of the month, even if your revenue is high. 

They’ll help you understand which parts of your business are working and which parts need fixing.

A business advisor acts like an external CFO. They’re not emotionally attached to your business the way you are. They can see the problems you’re too close to see. And they hold you accountable to the goals you set.

They’ll help you make decisions based on real financial data.

The Difference Between an Accountant and a Business Advisor

This is where it gets confusing for a lot of people: “Isn’t my accountant already doing all of this?”

Maybe. But probably not. 

Your accountant makes sure your BAS is lodged on time, your super’s paid, and your tax return is lodged. That’s critical work. You absolutely need it. But it’s backward-looking. Your accountant is reporting on what’s already happened.

A business advisor looks at what’s happening now, and what’s coming next. They help you make decisions that improve your business and grow your customer base.

Think of it this way:

• Accountants report history. Business advisors shape the future.
• Accountants focus on compliance. Business advisors focus on growth.
• Accountants tell you what you owe. Business advisors help you keep more of what you earn.

If you’re like most business owners, you’ll probably need both. Your accountant keeps you legal and compliant. Your business advisor keeps you proactive, profitable, and on track.

Some accounting firms (like ours) offer both services. Others just do the compliance side. If your accountant only talks to you once a year at tax time, you’re missing out on the advisory side, which is where the real value is.

How Business Advisory Services Work

If you’ve never worked with a business advisor before, you might be wondering what’s involved.

Here’s how it typically works:

1. Discovery: Understand Your Business Goals and Pain Points

The first step is a conversation. What are you trying to achieve? Do you want to grow revenue? Improve cash flow? Hire more staff? Buy a property? Retire in 10 years?

It’s just as important to ask: what’s not working right now? Are you stressed about money? Constantly chasing invoices? Struggling to make payroll? Not sure if you’re pricing your jobs correctly?

This is how your business advisor figures out what you actually need help with.

2. Analysis: Review Your Financials, Systems, and Structure

Next, your business advisor will review your financial reports. They’ll look at your profit and loss, balance sheet, cash flow, and any other reporting data you’ve got. They’ll also look at how you’re set up: your business structure, your software, your invoicing process, and your pricing.

The goal is to figure out where the problems and opportunities are.

3. Planning: Build Forecasts, Budgets, and KPIs

Once they’ve analysed your setup, a business advisor will help you build a plan. That might include a 12-month cash flow forecast, a budget for the next quarter, or key performance indicators (KPIs) to track your performance each month.

A good business advisor won’t give you complicated spreadsheets full of jargon. They’ll give you a simple, clear plan that tells you what to focus on and what to measure.

4. Advisory: Regular Check-ins to Measure Progress

This is the ongoing part. You’ll likely meet with your business advisor every month or quarter to review how you’re tracking. Are you hitting your targets? If not, what’s happening? What needs to change?

This is where the real value happens. Because it’s easy to set a goal. It’s much harder to stay on track without someone keeping you accountable.

5. Accountability: Stay Focused on the Actions That Matter

Your business advisor’s job isn’t just to give you advice. It’s to make sure you act on it.

If you were going to increase your prices, did you? If you were supposed to tighten up your invoicing process, did it happen? If not, what’s getting in the way?

They’ll help you find solutions so that you don’t just go back to business as usual.

The Key Areas a Business Advisor Can Help With

Here are the main areas a business advisor can help with:

Cash Flow Forecasting and Management

Cash flow is everything. A business advisor helps you predict when money’s coming in and going out. That way you’re never caught surprised when tax bills are due.

Profit Improvement

You might be making good revenue, but if your costs are out of control, it will eat into your profits. A good business advisor helps you identify where money’s being overspent and how to improve your profit margins.

Cost Control and Profit Margins

Do you know which jobs are profitable and which ones are costing you money? A business advisor will break it down job by job, client by client, service by service, so you know where to focus your energy.

Pricing Strategy

When was the last time you increased your prices? If your costs have gone up but your pricing hasn’t, you’re losing money. A business advisor helps you price your work properly without scaring off your customers.

Goal Setting and Performance Tracking

What gets measured gets managed. A business advisor helps you set clear, realistic goals and tracks whether you’re hitting them.

Business Structure and Risk Management

Are you set up as a sole trader, partnership, or company? Are you maximising your tax position? Are you legally protected if something goes wrong? A business advisor helps you structure your business properly for growth and protection.

Growth Planning and Expansion

Are you thinking about hiring staff? Or opening a second location? Expanding your products or service range? A business advisor can help you figure out if you’re ready and what you need to do to get there.

Signs You Might Need a Business Advisor

Here’s how to tell if you need business advisory services:

1. You’re busy but not seeing increasing profits

You’re working harder than ever. Your revenue is going up. But your bank account doesn’t reflect it. Where’s all the money going? 

Revenue isn’t the same as profit. If you’re turning over $500,000 a year but only taking home $60,000, something’s wrong. A business advisor can help you understand why, and help you fix it.

2. You’re unsure where your cash is disappearing to.

You know money’s coming in, but it’s disappearing faster than you can track it. Bills, wages, suppliers, and tax. It all adds up, but you can’t quite figure out why you’re always short.

3. You only talk to your accountant 1-2 times a year.

If your accountant only gets in touch at BAS or tax time, you’re not getting the support you need. Your business changes every month. Your advice should too.

4. You want to grow but don’t have a plan.

Do you want more revenue? More profit? More time? A business advisor helps you figure out what growth actually looks like, and how to get there.

If any of these sound familiar, it might be time to talk to someone who can help.

FAQs – Business Advisory Services

Do I need an accountant and a business advisor?

Yes. Your accountant handles compliance (BAS, tax returns, super). Your business advisor helps you grow and plan ahead. Most good accounting firms offer both services, but not all. If your accountant only does tax returns, you’re missing out on the benefits of business advisory.

How often should I meet with my business advisor?

Most of our clients meet monthly or quarterly for progress and strategy sessions. The frequency depends on your business and your goals. If you’re in a growth phase or dealing with cash flow issues, monthly check-ins are ideal. If things are stable, quarterly might be enough.

Are business advisory services tax deductible?

Yes. They’re considered professional business services, so they’re fully tax deductible.

Can business advisory be done remotely?

Absolutely! With Xero, MYOB, and cloud reporting, you can meet with your business advisor from anywhere. We work with business owners all over Australia.

I’m looking for a business advisor in Perth. Can you help?

Yes! We work with Perth-based businesses across trades, medical practices, professional services, and more. If you’re based in Perth and want help understanding your numbers, improving profitability, or planning for growth, we’re here to help.

Ready to Hire a Business Advisor?

Running a business is tough. You shouldn’t have to guess your way through it.

You probably didn’t start your business to spend your weekends stressing about cash flow or wondering why you’re working 60-hour weeks for less money than you’d make working for someone else.

You started it because you’re great at what you do. You wanted freedom. You wanted to be in charge. And you wanted to build something incredible.

When you work smarter and know your numbers, you can set goals and make smart decisions. And maybe even enjoy your weekends again.

That’s where we can help.

At Evolve Accountants & Business Advisors, we do more than just paperwork and tax. Want to grow? Hire staff? Understand your cash flow? We’re here for it. We know what you’re dealing with and how to fix it.

Contact us today and see how we can help your business grow the right way.

Let’s get your business where it should be: making money, built to last, and working for you (not against you).