When you start a business, you will need help to be successful. Below are five advisors that you need to get your business off the ground:
- Attorney: Your attorney will help you stay out of legal trouble from helping you choose the right business entity to writing the sales document when you sell your company for millions!
- Banker: Your banker will help make sure you have the right accounts set up, walk you through loan processes, and offer general business advice if they are good.
- CPA: You accountant will know more about you than your spouse; he or she should know where you spend your money, how to spend it so you save on taxes, and file the right documents so your city, state and the IRS don’t come after you for unpaid taxes.
- Insurance Agent: Your insurance agent will make sure you have the right coverage without having too much coverage and being insurance poor; set up yearly reviews so that if your business changes, your coverage changes with it.
- Mentor/Business Advisor: You mentor should be someone that is in a similar field or at least has owned his or her own business; he or she will give you advice when you hit bumps, a shoulder to cry on when you have lows, and celebrate the successes of your business throughout your company’s life!