Imagine if you were a football player on a team of one. How could you play against another complete team? You could use a similar analogy when thinking about your home office. Sometimes it feels like you are competing against an entire team on the playing field of business. It shouldn’t be that way at all. Here are a few professionals that can help you gain a competitive edge.
1. The C.P.A. It’s always amazing how many small businesses use a bookkeeper that tells them to “throw their receipts in a shoebox and make the I.R.S. work if they audit you.” An excellent C.P.A. is worth their weight in gold. Not only will s/he help you implement tax strategies for the upcoming year, s/he will defend you to the I.R.S. if there are any questions about the tax return. If you have a C.P.A. that won’t handle your I.R.S. problems, find a new one. A good C.P.A. will help you figure out your best corporate structure, prepare your taxes to take full advantage of your deductions, and help you analyze your books if something is going wrong. Some even offer full bookkeeping services. Shop around for one with whom you have a good rapport. If your C.P.A. thinks that everyone else is dumb, find a new one, and never put up with one that is condescending. You must feel your C.P.A. is approachable or you will never talk about issues that are crucial.
2 The Insurance Agent: Shop around for a good agent. Again, only work with one with whom you have a good rapport. A good agent will check for a cheaper policy for you every sixteen or twenty months without complaint, and often will find you a better deal. Educate yourself on the policies before you buy them by reading up online for other business owner’s experiences. Find out what the agent’s role is in case you have a claim. If they will not help you, find out if others in your city will. Sometimes when you need the insurance, you need someone to just hold your hand while you go through the process of filing a claim. Remember that smaller firms often have cheaper quotes for the same insurance..
3 The Lawyer: You are looking for a smart, attentive one. Once you have a business, you will leave behind unpaid bills and other items should you become incapacitated or die. This can seriously affect the lives of your loved ones. As soon as you can afford it, get a good lawyer and get your trust set, as well as complete directions as to how your business should run if employees are involved. Get your medical directives and other responsibilities handled. Besides, if you are ever approached to sell your business or enter a partnership, you will need a good contract lawyer on your side fighting for you. Pay to write up any contracts, and you will know how good your lawyer is at doing this by how s/he gets your estate readied.
4. Others: This is different for everyone. For some investors it is the real estate agent, for others it is the webmaster or a marketer. Whatever it is that you need, be sure to get people who are interested in making you successful.
The most important aspects of having that person on your team are competency, trust and rapport. Building your team of professionals will make you more competitive and help your home office business shine. Then you’ll know when you head to work in the morning, you won’t be going alone.
