When it comes to business, we tend to go solo. We step out on a wing and a prayer and hope for the best. We may take the time to sketch out a business plan. However, we don’t always have a people strategy. This means more than just the people on the team who sell and deliver your products and services. Consider those with the wisdom you need to avoid the “normal” potholes of running a business.
I call them my Fab 5 Board of Advisors. You can call on them for wise counsel when needed. Your investment in these relationships has a positive impact on your company sustainability. Let me introduce you to them.
Attorney – Find an attorney with experience in the area of your question or need. Business attorneys can handle contract reviews, business agreements and business structure setup. Intellectual property attorneys can protect the products and programs you create.
Banker – Even these days, you can have a relationship with someone at your bank. This becomes important should you need to apply for or increase a business line of credit or get a business credit card.
Insurance Agent –Having an insurance agent who has access to different insurance products, like business liability insurance or event coverage, helps protect your company.
Accountant – Have someone on your team who can help you interpret your monthly financials to ensure your finances are supporting your life and business. This goes beyond just having your CPA prepare your annual tax return.
Financial Planner – This is the person who will help you park the excess cash flow your business generates, so your money is working for you.
Taking your business to new heights requires support. Having the Fab 5 on your team is just the launching pad you need.