Need some handy business advice? We’ve got it

You’ve got big dreams but aren’t sure how to get there. Engaging a business advisory service can help you set and implement goals. To help you decide if Illumin8’s business sherpas are the right fit to help you get your business to where you want it to be, we’ve come up with a few FAQs.


For any number of reasons, many small businesses are launched quickly. And while they might be profitable enough, the owner never really had time to think about why they’re doing what they do. Illumin8’s business advisory service can help you define your business purpose then offer suggestions on how to get the best from it. We can help you break down your service offerings then rebuild them to increase profitability. If you want to understand the numbers behind your business, what the current state of play is and how to increase margins, we can discuss that. Together we can set quarterly and annual goals, track monthly actions to work towards those goals, and establish how to put out any fires along the way. It’s an ongoing business education process.

How often and how we meet is largely determined by the business goals you’re trying to achieve and how you see our business advisory service helping you. If your business is in a growth phase you might want to book monthly meetings. If you’re setting business intentions for the financial year, you might decide on quarterly. There’s also the option of an annual business check-up. We can meet online or, if you’re in Melbourne or on the Mornington Peninsula, we can get together in person at a time that suits.

Typically, you’ll do the doing – the plans we’ve discussed together during our advisory sessions – between one meeting and the next. Of course, there may be some aspects of your business, particularly on the financial side, you can engage Illumin8 to undertake for you. But primarily business advisory sessions are about just that: advice rather than implementation.

Most of our clients have small to medium businesses that fall into the following industries: ecommerce, hospitality, trades and construction, creatives, food and booze brands, and professional services. If you are really passionate about what you do though, chances are we’ll get along well because if there’s anything we admire, it’s inspired people doing what they love.

Taking the next steps in a small business can sometimes be daunting. Especially if, say, you’ve worked as a sole trader until now, but are thinking of taking on employees, or are considering moving to bigger premises so you can expand production. During a business advisory session, we can break down your finances to establish the current state of play, look at your business structure, identify any increased obligations you will have, and set some incremental goals so you are constantly moving towards your growth goals.

You’ve spent years pouring your time and often your heart into this, so when it comes time to sell your small business or pass it on to someone else you need to make sure you have a business succession plan in place. Our team of accountants and advisors can work with you on the financial steps, so you do the right things in the right order and have all your bases covered. You can feel certain that when the time comes to move away from your business, you’ll have shored up operations, systems and personnel so your business can support your employees and serve your clients long after you leave.