Creating a small business, or a large one for that matter, requires a lot of hard work and determination. Many things come into play as we develop the business plan that will help us bring to life this dream of a company we have conjured up in our minds. However, an often overlooked principle is to surround yourself with three people from the very beginning, or certainly as soon as possible. These three people will in one way or another have a substantial connection to your business as you work to build it from the ground up. It is inevitable that at some point or another you will run into these three, and they are – in no particular order: An Accountant, a Banker, and a Lawyer. These three people before-mentioned will (if allowed), have significant input into your company’s future; but the key is to seek them out early.
Decisions as seemingly simple as creating the company by forming a Corporation, LLC, or even a Partership could have significant tax consequences in the future if not done correctly from the start. This is where an accountant and/or attorney can come in and guide you into making the right choices that are appropriate for you and your business. Of course, who can forget about the “money man.” Having a good-solid-personal relationship with your banker can make or break your business idea before it even gets off the ground. In a time when our relationships with banks are much more “automated,” it is imperative that as entrepreneurs, we plant those seeds with the appropriate persons that can assist in catapulting our dream from an idea, to a reality.
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