Even when you are your own boss, the business is yours lock stock and barrel, and you are considered an expert in your field, there are going to be times you will need help – especially when you are just starting out. I believe there is a core group of people you really need in order to be truly independent.
They are:
Accountant. Every business needs a numbers-cruncher – someone who not only knows what your financial situation is, but is still willing to work with you! He or she will be invaluable in determining what’s best for you financially.
Attorney. Look for an attorney who has the kind of experience you need. I needed a good Patent Attorney and used the same one for more than 20 years until he retired. I have been using another group for the past eight years or so. Your attorney should be smart in order to help you choose the right course for your business, i.e. should it be a partnership or corporation. He or she also can advise you on most issues during the course of your business and prepare simple agreements and documents. Ask other successful business people you know which lawyers they’re using.
Banker. Yes it’s true. You really should establish a business account at a local bank and carry on all your transactions there. This may help you when the time comes that you need financing, a business credit card, or possibly a reference.
Insurance Agent. You will need to have someone to advise you as to what kinds of insurance will be needed in your office (even if it’s in your home) and the types of coverage available and recommended for your particular business.
Assistant. You should have a person to handle everyday details like bill paying, handling appointments and engagements and administrative work so you can concentrate on your business. I know this sounds elementary but many times people think they can do it all themselves and that’s really not true. If you are good with numbers and setting up systems, or incorporating, or doing research, you can save yourself some money; but you should hire professionals to guide you.
In addition to the people I’ve mentioned above, you will probably also need help marketing your business and managing the many issues that come up on a daily basis. There are many websites on the Internet like this one, providing all kinds of advice for people just starting out.
Other sources of help are your local SCORE office (retired executives willing to help start-ups); local community colleges; local chambers of commerce; rotary clubs and similar organizations that provide either free services or referrals to the professionals you need to help you.
And finally, don’t overlook your family and friends. Ideally, your spouse or significant other will support and understand your time and financial commitments to your new business – and during start-ups these commitments can be significant. Friends should be supportive of your endeavor as well and can sometimes be helpful in recommending people to help you out.
Article – Copyright 2000 Stanley I. Mason. Syndicated by ParadigmTSA
