Sunday, August 19, 2007
Just Getting Started?
Are you thinking about starting a business and trying to find out how to get started? Speak to your trusted advisors and mentors if you are lucky enough to have them. If you don't, think about getting one or two. Every new business should have a competent accountant and lawyer to provide advice about start-up. How will your current financial situation be impacted by this new business? Is the new venture risky financially? Will there be large start-up losses? Does the business pose the risk of law suits? These are questions that your lawyer and accountant will want to address before you get started. If you are looking for a good lawyer or accountant, the best way to find one is through word of mouth. Go to two or three other business people who you respect and ask them who they deal with and if they would recommend their advisors. Or go to a seminar where a lawyer or accountant is speaking to get a sense of how they communicate and what their personality may be like. Establishing a relationship with your professional advisors will take time so think of your initial consultation with the professional as the beginning of a long-term relationship. It may take a couple of appointments before you find the right fit. But finding the right fit will be important in the long-term success of your business.