From the Corner Office

Interview with Kenneth Grandberg, President Brewster Wallcovering

Since 1954, Brewster Wallcovering has been a leading producer and distributor of wallcovering, fabrics and accessories for home and business. A family owned and operated business that has spanned three generations, Brewster has grown into one of the largest international independently owned producers of wallpaper and related products.  Brewster Wallcovering’s president, Ken Grandberg, recently spent some time with us, discussing the value of outside advisors to a business. 

1. Can you share with us what you think the value of outside advisors can be to an organization?

The value of an outside advisor is that they are not ‘in the forest.’  They can be objective because they are not directly connected to the day-to-day pressure cooker of the business operation.  They come to the table with a totally different perspective than those of us on the inside. I believe it is always good to have an outside perspective – both when times are good and when times are bad.

2. How have you used outside advisors at Brewster Wallcovering Company and to what effect?

We’ve had very good results with the advisors we have worked with. First off, we have an outside Board of Directors.  We have also used an acquisition advisor, a psychological advisor, and a restructuring advisor. Where we need a particular expertise, we have availed ourselves of specialists.

3. In considering outside advisors to work with at Brewster, what were some of the key factors you used to select the right ones?

Luck – lots of good luck!  Actually it has generally been word-of-mouth and recommendations.  The advisors we’ve worked with have not been strangers to us.  They generally are people who have passed our doorway for other reasons that we’ve liked.  When something has come up, we’ve then asked them to help us with specific issues.  For example, we ended up getting a lawyer in Toronto.  We got a reference from our local law firm, then we spoke with that person – and he recommended the person in his firm who was best suited to help us. It’s an extension of the trust we have in our own law firm who connect with other professionals that they know and trust.  We worked with this Toronto attorney and like him because in addition to his strong legal advice, he had good business acumen.  When there were other issues that could benefit from his combined expertise, we continued working with him.  Finding the right advisor is really an evolution out of good relationships that resulted in good experiences.  One strong relationship leads you to the next one.

4. Any important tips you’d share with fellow senior executives in considering looking for outside advisors?

Start by going to your current outside advisors, be it your attorney or CPA, and get references from them of people whom they trust as a way of starting to identify additional advisors for your company.  You’re lawyer or accountant already knows how you think, and already has an insight into your operations. Tapping their professional network can provide great leads to people who fit both you and your company.  This is probably more effective than asking for a reference from your friend Joe, who may be in a different environment, or have different issues.  A recommendation from an advisor you already know and trust, rather than a friend, will yield people who are going to be a better fit.  The only exception is if you are having a specific problem that one of your friends or peers has dealt with already – then a referral to his or her advisor makes the best sense.

5. Any last thoughts that you’d like to share with fellow Presidents/owners?

When using outside advisors, don’t be afraid to make a change if you need to.  Perhaps the fit isn’t right or progress isn’t being made.  However, don’t change just because you disagree with their advice or point of view.  The true value of getting outside perspective is getting the benefit of expert knowledge in a specific area – someone who has more knowledge about it than you do.  Carefully considering all their input, whether you initially agree or not, is key to using advisors effectively.

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