Stage 1: Assessments & Research

Stage 2: Strategies

Stage 3: Law & Taxes

Stage 4: Facilities & Insurance

Stage 5: Calculating Costs

Stage 6: Financing

Stage 7: Finalizing

Course Offerings

Step 11: Choose Advisors & Services

The Concept:
Every business needs an accountant, an attorney, and other support roles.
 
What you need to know:
Entrepreneurs tend to think of themselves as being able to do it all themselves. But that's impossible—to focus on your customers, you've got to let professionals advise you on legal, financial, and other spheres that are probably outside your area of expertise. And that doesn't mean just engaging professional service providers for advice–meaningful input can come from mentors and other entrepreneurs.

When seeking advisors, consider those with some knowledge about your industry and business structure. Interview advisors the way you would interview a key staff member—spend some time talking to them to make sure you can communicate with them openly and honestly. If the advisory relationship is fee-based, you must understand the cost of the service.

Points to consider:
Should your advisors be employees or third-party consultants?
Do you understand how much their services will cost?

Have each of your skill gaps been addressed with the obtaining of an advisor? These could include:
• Attorney
• Accounting Professional
• Technology/Systems Advisor
• Insurance Advisor
• Banker
• Payroll Service Provider
• Marketing Professional
• Advisory Board Members
• Other (Industry-specific)