The 6 People You Need On Your Side When Starting a Business

Having the right people in your corner can make all the difference.

When starting out a business you need to have the support and knowhow of some very important people to be successful. Your support dream team will each play very important parts in establishing and running your business from the planning stages to support at the end of the day and through the last breath of your business.

Here are the people you need on your side as an entrepreneur:

Family Members

This one is first for a reason. Without the support of your family and friends starting a business can be difficult. If you are married your spouse will have to give you moral support and likely have to help you manage all of your other commitments through the planning and opening stages. Allowing them to help you will reduce your stress and just having them in your corner through the ups and downs of running your business is going to help you make better decisions and create a calmer self, knowing you have them to lean on.

Learn: Top Free Resources for Small Businesses

CPA

Sure there are programs that can help you with your taxes once a year, but having the professionals to help you get the additional credits and cash back on your taxes is well worth the cost of hiring a CPA. They can also help you when setting up your business and making sure all of your paperwork is set up properly with the IRS. You don’t want to get on the wrong side of the government and have to pay additional fees and holds for your inability to correctly cross your T’s and dot your I’s.

Also: How Much Does an Accountant Cost?

Lawyer

Yes, attorneys are pricey but they should not be overlooked for a reason. A lawyer should be consulted in the very early stages of planning your business. What if your entire business model is built on something that is already copyrighted or something that you cannot possibly get zoned rights on? Hiring and interviewing the right lawyer for your business is crucial. Lawyers can be very specialized so finding the right one or the right firm, can take a little time. You may need someone to negotiate your lease agreements so you can get the very best retail space for what you are willing to spend.

Asking a few key questions when interviewing your lawyer can save you time and headache later on down the road. You first would like to know if they are representing any other players in our industry. What if something happened between you and a competitor, who would represent who? Also asking about their experience and getting referrals on businesses they are handling if possible. What is their fee structure and could you use them on retainer purposes when you are less likely going to need them as often? Have your list and do not be afraid to shop around until you feel your business will be in the right professional’s hands.

Financial Advisor

Your business plan in the early stages of your startup is just a dream until you have some sort of funding. Launching a business often requires loans, lines of credit and credit cards to get going so. Additionally, you may want to reach out to investors, in which case having representation from a financial advisor is crucial. They have a variety of ways businesses get the capital they need and they have connections with the best and newest available funds anywhere. Financial advisors can also guide you on cuts and costs that will help or hurt your business to guide you towards profitability.

Marketer

When seeking a marketer, you have a few options. You can hire an agency, freelancer or in-house staff. Additoonally, there are different types of marketers, some of which are specialized in complex forms of marketing  or generalists who can do a little bit of everything. Who you hire depends on what exactly your needs will be with your marketing strategy. You could end up spending a whole lot at some top rated marketing agencies, but with a freelancer they can likely do the same, if not better of a job committing to your needs and desires for your companies projection to your clients for less. Interviewing and getting what you want without overpaying is key. Customizing your needs like social media, website and logo designs, and advertising availability are just some of the areas your marketing guru can supply your demands.

See: 7 Ways Small Business Can Reach New Customers

Mentor

Every good business owner should have a mentor or advisor to lend an ear and be confident in the advice they are giving is true and accurate. Sometimes their advice can come from their experience running their own businesses or although the fields of business are different, you can still relate your questions to them. Before making decisions that can make or break a business, consulting them prior to making these decisions has to become something you depend on and see as just another example of the professionals you need to hold tight and keep in your inner circle.

Up Next: 11 Small Business Grants for Women

The Bottom Line

Starting a business should not be a one-man show event. It takes a team of professionals with their expert advice leading you to your pursuit of opening up a health thriving business.

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