While making the decision to go into business — finally! — is a commendable one, the work doesn’t stop at the launch party. The sacrifices, the late nights and early mornings are just a few of the changes you are sure to face in your pursuit of business success. You’ll also want to consider the hard truths you are almost certain to succumb to, such as profit & losses, disgruntled employees, and even theft.
If this has now discouraged you from going forward in your entrepreneurial pursuit, here is some good news: you don’t have to be alone to be a solo business owner. In fact, you can put just about anyone in place to combat the pitfalls of owning a business. For example, an IT expert will help save your data by installing security measures into your hardware and software. A security professional will give you the best solutions for camera installations so that the wrongdoers will be caught in the act, redhanded.There are many ways to help ensure business success once you’ve become your own boss. Click To Tweet
Here are a few other things to consider when going into business for yourself:
Business lawyers are teachers, too.
If you are struggling to identify the pros and cons of a business entity, a contract, or a dispute, turn to a business lawyer. Attorneys are highly skilled in all things start-up, including filing the necessary paperwork — or revising the paperwork, if you’ve already launched your business but could use a newly-formed agreement for a new aspect you’d like to include. In addition to having the ability to assist you with navigating paperwork, they can often provide guidance with handling new employees. If an employee needs to be terminated or reprimanded — say, for sexual harassment, for example — you’ll need to know how to lawfully address him or her. And in the day and age of undocumented workers, you’ll want to consult with an attorney to understand what is and is not allowed. Finally, your products and services are the backbones of your business, so you’ll want to ensure they are safe for purchase and in some cases, consumption. Let a lawyer handle this, too.
Accountants are more than bookkeepers.
An accountant has a level of skill to manage monetary dealings within a business. Not only can an accountant manage the receivables and the payables, but he or she can help you prepare for any auditing or other IRS events. In addition, as your business grows it will become necessary for you to have an organized system of financial accounting so that company reports, and tax matters can be produced and handled at any given time. Plus, it will become less and less efficient for you to be responsible for any items outside of direct business building. Accountants are very organized; let them help you keep track of your profits, and company financials.
Marketing consultants aren’t just for large corporations.
A marketing consultant helps business owners identify the needs of the clients, and communicate your methods of helping the clients satisfy those needs. Ultimately, they help you secure the clients, and revenue, that supports all other aspects of your company.. It’s easy to assume that your product or service is worthy of the sale, but if the marketplace isn’t interested, you won’t be selling anything. Bringing in a marketing consultant allows you to learn how to frame your business so that it delivers on what the customers want, as opposed to what you think they need. Whether it’s social media, TV, or even print, a marketing manager gets your business ready for the masses.
Mentors aren’t just for college students.
The best entrepreneurs have the help of a mentor, someone who has been there, done that, and could write the book on your product or service and have achieved business success. Assuming you can do it all by yourself is just bad business. You’d be doing your customers a disservice by not taking advantage of the company-building knowledge a mentor has to offer. Some mentors can connect you to better vendors and bigger opportunities to promote your brand. Mentors, unlike your parents, are not afraid to tell you what you’re doing wrong in your business. They simply care about you being the best business owner you can be. What’s more, mentors are often pleased to support you and are not looking for compensation. Such mentors remember the “start up” days and are looking for a chance to help make your path much smoother. A business mentor will prove to be invaluable to your efforts and business success.
Ultimately there are no shortcuts to growing a business. It takes dedication and determination. While making a business successful requires hard work on your end, it never hurts to turn to the experts for an extra hand. Contact our office today for more information. We are happy to help you on your path to business success.