SCORE is a Resource Partner with the U.S. Small Business Administration
Your Business Team
You might ask, “What is a Business Team?” A Business Team is the core group of professionals to whom every business must have access. It includes an attorney, accountant, banker and insurance agent. It is this team that helps you (1) to form your business and (2) to operate your business without falling into the many pitfalls that can befall a business. A business owner should develop an ongoing relationship with each of these professionals so that they know you and your business and you can call upon them when ever the need arises. Your team members should also know of each other so that each knows who to call if a need spans multiple professions.
Imagine you've just got a call from a prospective customer who tells you that they are sending a contract over for your signature and ”Oh, by the way, send me your Certificate of Insurance this morning too.” You want to be able to respond quickly to such a request, but you need a lawyer to look over the contract and you need to get that Certificate of Insurance too. Then is not the time to be looking for a lawyer or an insurance agent. Situations similar to this arise often in any business; therefore, you want to have your Business Team in place.
You might ask, ”How do I find these people?” There are several sources you can use:
In any case you should plan on interviewing at least three firms for each team member. You want to understand from each one the following items:
One other person you should consider for your business team is a Mentor. A Mentor is a person with business experience preferably in a business similar to yours with whom you can discuss your business. This person can help an entrepreneur hone your abilities and advise you on navigating new challenges. A mentor can be a boon to an entrepreneur in a broad range of scenarios, whether they provide pointers on business strategy bolster your networking efforts or act as confidantes when your work-life balance gets out of whack. Read this article about finding a mentor ... “How to Find a Business Mentor” from the Inc. magazine. SCORE is a good source to consider when looking for a mentor too. The SCORE Counselors are all experienced business persons and can bring a wealth of experience to the table for you.
So ... this is what a Business Team is. Do you have yours in place?