The Top Two professionals you definitely need if you decide to open your own business

A CPA (A Certified Public Accountant) and a Primary Doctor

The Top Two professionals you definitely need if you decide to open your own business

Now, if you want my TOP five rankings of professionals you should have, it’s easy:

#1 CPA (tie)
#2 Primary Doctor (tie)

#3 Banker

#4 Attorney

#5 Marketing / Advertising Executive

Now, I’m sure you wondering why I, as an attorney, would have an attorney ranked #4. 

It’s simple so let me explain going backwards in my ranking.

At #5, we will start with a marketing / advertising executive. This professional is great but most of us are probably relying heavily on ‘word of mouth’ and ‘referrals’ and we probably can get the initial phases of business on our own.  As we start generating revenue, getting a marketing / ad executive on your team is crucial.

At #4, we have the attorney.  As an attorney, I am a HUGE supporter of seeking out legal counsel regarding contracts, creation of your corporate entity, and evaluating your company regarding potential legal exposure.  However, most people probably won’t know what they will need in terms of legal and there are things you can do on your own.

At #3, we have the bank.  Where your money goes is crucial but you probably won’t be in a position to avail yourself of the loans or lines of credit when you first start.  So, deciding your bank is definitely an important decision because the bank that will accommodate how your business moves is crucial.

Which brings me to the top 2 professionals which are TIED!

They are tied for two reasons.  

Your CPA is for your BUSINESS’s health.  Your Primary Doctor is for your PERSONAL health.

First, the CPA.  Let’s be real.  Taxes are VERY funky but a CPA can do so much more.  They can evaluate the performance of your business.  They can ensure you are utilizing the corporate organization that benefits you.  They are constantly being updated about tax changes or things that impact your taxes.  And keeping it further 100 (as the young folks say), have you thought about the consequences of working from home?  How about the equipment you use?  Do you use your personal cell phone for business purposes?   There are so many daily nuances to your business that you don’t even realize but GUESS WHAT?  Your CPA realizes.

Second, the Primary Doctor.  If it’s just you, then YOUR health is important to your company.   I don’t care if you don’t like doctors but if something happens to you, your company will be impacted.  If you start to gain or lose weight, if you find yourself drinking more, if you find yourself getting stressed, if you find yourself losing sleep, or any other health issues, your company will feel the impact.   Your company is tied to your health so if you don’t take care of the MOST VALUABLE ASSET to your company (which is YOU), then your company will suffer.

Take the time to choose your Professional Business Team wisely but remember, these people are there to ensure your company’s (and YOUR) company’s well being.