Although it can feel like you’re all alone when you’re starting a business, the opposite is true. There are a lot of people involved in getting you off the ground. Instead of treating them and their services as a means to an end, create lasting business relationships with them and your business will be better off for it. Here are five relationships you want to foster when you start your own business so you can call and get a response whenever you need a hand.
A Banker Who Is Available
Finding a banker isn’t hard. Finding one who is available to help you can be. It isn’t uncommon for bankers to take days to get back to clients. You’ll be glad if you take the time to find a banker who is used to working with businesses and is willing and able to help you whenever you need it. That’s especially the case because a banker can do a lot more than provide your business with a loan! Additional services your banker may be able to provide include:
- Examining accounts to help you improve cash flow management
- Streamlining payroll and payments with digital solutions
- Facilitating relationships with other professionals in the area
- Matching up your banking goals with your tax goals
- Giving you advice on sustainable ways to grow your business
A Lawyer You Trust
You aren’t alone if you want to avoid the lawyer for a while as you get your business off the ground. Attorneys can be expensive! Unfortunately, you’re just setting yourself up for trouble later. Find yourself a lawyer, and make sure you find one you trust. An office that addresses multiple needs is better than a single attorney who focuses on just one area. For example, find an office that deals with product liability, insurance, corporate litigation, and other business-related issues. They can help you at the very beginning by helping you decide on a business structure, they can help you register trademarks, and they can represent you in the future should you ever face a lawsuit. Should it ever come to that, you’ll be glad that you’re working with a lawyer who is already familiar with you and your business.
An Insurance Agent With Flexible Policies
As a business owner, there is an overwhelming number of policies you have to consider. A few you may not realize that can save your business include policies like:
- Business interruption insurance
- Cyber insurance
- Employment practices liability
- Errors and omissions insurance
These policies are in addition to the ones you absolutely have to have, like property insurance and small business auto insurance, if your employees drive during business hours. You don’t want to have to talk to multiple insurance agents. Look for one that offers a wide range of policies to businesses. Not only will they understand your business better, you’ll have one point of contact and just one policy to keep track of.
An Experienced Accountant
Your business won’t run without money. You need a small business accountant to help manage your organizational finances. It’s one of the things you’re likely to spend the most time thinking about, which is why you need an accountant. Accountants help businesses in many different ways. Not only can they help you get your business off the ground, they can help you keep track of your finances during regular operations, and they can help you look for ways to save money. They can also make it a lot easier to file taxes when tax time comes around. Having an account is better than not having one at all, but if you can, look for one with experience working with businesses. Their confidence will bring you peace of mind.
At Least One Business Mentor
There are a lot of ducks to arrange in a row as you’re opening a business. The last thing you want to do is spend the few extra precious minutes you have every day contacting a mentor, but that’s exactly what you should do. There are many benefits of having a mentor, even if it can sometimes feel like just another person you have to call. Not only can they encourage you through tough times, they can provide you with advice, and they may also be able to help you establish important connections within the community.
There’s a lot to do when you start a business, but one of the first things on your agenda should be to compose a business team you trust. When you have all these people on speed dial, you can expect more success with less worry.