Who is on your dream team?
Being a business owner comes with a lot of wonderful benefits: flexibility, working from anywhere with an internet connection, self-actualization. It also has challenges, for sure. One that is particularly hard for me is the feeling of being on my own to navigate the growth and development of this enterprise. Building my team of staff over the past few years has definitely helped to ease some of this, but I have also worked hard to develop an external dream team of experts to advise and mentor me in the areas that aren’t my strength. I highly recommend this to any business owner who is operating solo or with a small staff.
Many of us get into business because we love the thing the business does, not necessarily because we are skilled at running a business. That’s where we need to rally the troops and find our team to help with the areas we lack. Here are a few people I recommend adding to your team:
A CPA - I think even before a bookkeeper I have always recommended this relationship for small business owners. US tax code is very complex and there are intricacies of business ownership, personal finance and property ownership that only a trained professional can help you navigate. I don’t think you have to pay for tax filings annually, if that isn’t in your budget, but I would spring for it every 3 years or so or if you’ve had a weird year. 2020 was definitely a year when it paid off to have a CPA you could consult with and utilize to navigate the chaos.
A lawyer - Not everyone needs this one, but if your profession has a level of liability or you are forming partnerships or more complex business types, it is a must. You need to make sure that your contracts are set up correctly, your business forms are all properly filed, etc. Also, as your business grows, using an employment expert to help you draft policies and handbooks can be worth its weight in gold. The up front investment may seem like a lot, but in the long run, it will save you headache and cash.
A bookkeeper - (obviously 🙂) Not everyone needs a bookkeeper when you are starting out. But as your business grows, it is important to weigh the value of your time in other areas of your business. You could spend hours each month keeping your financials up to date, but is it the best use of your time? Also, just as you are an expert in your field, we can optimize your systems and make sure everything is done correctly from the start so you have the best financial info to make decisions based on.
A business coach - Again, we don’t start a business knowing it all, and we are often making key decisions all on our own. Having an expert to navigate big changes or challenges can give us perspective and ideas we may not have come to on our own. They can also help connect us with others that may benefit our business.
Social media/marketing manager - For a lot of us the ins and outs of social media gets overwhelming. instagram, tik tok, facebook, youtube, what do we choose? How do we do it? What is best for my business? Is this thing on? Having an expert develop your strategy and create or assist in your content management can be a life saver. It frees you up to spend more time on the stuff you love about your business while still generating new customers and clients.
Financial advisor - As your business grows and your life becomes more complex it is important that your financial situation also evolves and you need an expert to help with that. Whether it's retirement, trusts, real estate or life insurance, that jar under your bed is not your best strategy and finding someone to help is important.
There are definitely others you could add to this list, but this is a great place to start. We will spend this month detailing some of these roles and how they can help you as a business owner. Who is on your team?
Looking to add a bookkeeping, payroll or social media management professional to your dream team? Click below to schedule a free, no pressure consult:
