You Can’t (or Shouldn’t) Do It All Yourself: 6 Experts Who Can Help
You may have come from a background where your sole focus was your job. One of the first big awakenings with a start-up is that you realize you are now the official “jack of all trades.” While it feels good to jump in and manage everything, it’s not a practice that contributes to growth over time. Small business owners get sucked down the rabbit hole doing tasks that take up extraordinary amounts of time and not working in the areas where they make the greatest impact. It’s you why you need a team of experts, not on your payroll but whom you can access and feel comfortable with.
Each business may be different but your team will likely include:
- An accountant: you don’t need to know how to create all those financial reports but you do need to know how to read them and more importantly, use them. A good accountant will partner with you, teach you and offer advice on how to prepare for a loan or when to hire an employee. If you’re really bad doing the books, then include a bookkeeper—a cost-efficient way for someone else to input your numbers, create and monitor invoices, all the financial activities owners don’t want to spend time on.
- A banker: like the accountant, a good relationship with your banker is important when you need a loan for a major purchase or a line of credit to help you through your slow season. There are so many great banks on Cape Cod where you can open a business bank account. Make it a point to stay in touch with that banker, a great asset.
- An attorney (or maybe a few attorneys): owners are often reluctant to speak with an attorney due to perceived cost. Don’t let that stop you. Your attorney will likely save you money. As you seek an attorney, look for one that has the network to refer you to another with expertise in leases or employee issues or whatever your future need may be.
- Insurance agent: all too often, we see a business take insurance when they open and never look at the policy again. A good agent will meet with you annually to discuss the coverage you need as you grow. Tell them your budget and they will work within it.
- Virtual Assistant: if you have a business where you are constantly getting inquiries and making appointments, it’s easy to fall behind. One of the biggest complaints about service providers on the Cape is that they don’t return phone calls. Take advantage of Virtual Assistant services that are out there to do your scheduling, take calls or other tasks that you can’t get to. It costs money but it also adds clients.
- A Mentor: it’s hard when you’re by yourself to think through issues. It’s why organizations like SCORE are available with mentors who answer a quick question or work through major issues facing your business. Start a relationship with a mentor and regularly schedule a meeting that fits your needs. No matter how big or small your business is, you will benefit from an outside perspective.
These are just a few of the resources you need. And don’t forget about networking with other small business owners. The Cape is rich in organizations like the various Chambers, CCYP and so many others—all filled with people willing to share insights.
Need help with your growth plan or have other business questions? SCORE Cape Cod & the Islands provides free, confidential mentoring. Contact us at capecodscore@verizon.net, at 508-775-4884 or on our website at www.capecod.score.org