Self-employment

Build a team of business advisors

It’s impossible to know everything about running a small business, so you’ve got to build a talented team of professional business advisers. Paid or unpaid, a business adviser is someone who knows more about a specific area than you do.

ROGER PIERCE
[ 2007-05-02 ]

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Most new entrepreneurs should seek out:

  • An Accountant. To make sense of the latest tax laws, help you to take advantage of every allowable write-off, and to advise you on day-to-day business decisions (such as whether to buy or lease).

  • A Lawyer. There’s plenty of legal risk to running a small business, so legal counsel is absolutely necessary. Your lawyer can review leases, contracts and partnership agreements or help you to incorporate, set up holding companies and otherwise minimize your legal downside by providing sound advice.

  • A Financial Adviser. Either a banker or an independent financial planner, you’ll need someone to ask about money management, financing options and tax shelters.

  • A Business Coach. The one person who ties together all of the advice given out by the people mentioned above is your business coach. He or she should work with you to achieve your goals, overcome challenges and embrace opportunities.

    • To learn more about running a successful small business, attend the Small Business Big Thinking Conference hosted by Visa Canada on June 4 in Montreal. For details please visit www.visa.ca/bigthinking.

    Entrepreneurship expert Roger Pierce advises startups at BizLaunch.ca




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