Welcome to part 3 of the 5-part series about what you need to successfully run your business. In this post, I am going to talk about the professional services that you need to hire from day one to get your business off the ground and keep it successfully running.
What are professional services? Wikipedia defines them as occupations requiring special training in the arts or sciences. Some professional services require professional licenses for professions such as architects, auditors, engineers, doctors and lawyers. Other professional services involve providing specialized business support to businesses of all sizes and in all sectors; this can include tax advice, supporting a company with accounting, IT services or providing management advice.
So what professional services do you need most?
In the beginning your lawyer can advise you on the formation of your business entity. Are you an LLC, C-Corp or S-Corp? Your lawyer will help you choose based on several qualifying factors.
Your lawyer can also help you write your service agreements and contracts. Having a legal and binding agreement will help filter out any confusion if an issue arises when providing services.
As you grow your business you should have a relationship with attorneys that practice in the areas of labor law, tax law and for some, criminal law.
Normally there is not a one size fits all type of lawyer. But, a general business practitioner will be your best place to start. They can help you with legal issues for your business.
That’s right, we all need a good accountant and sometimes a bookkeeper also. Unless you are a financial whiz and know about tax filing, payroll and bookkeeping, you need to have an accountant or a bookkeeper. Not all accountants and bookkeepers are the same. Spend time interviewing them and their staff. Make sure that your accountant’s and bookkeeper’s business model fits your business.
Technology is something that all businesses run on. It doesn’t matter if you are a 1-person business that is just getting started or are a fully staffed and more established company. Making the investment in the right technologies will propel your business forward. Choosing the right technology or IT company to support you as you grow will keep your business on track and your staff productive. When looking for an IT firm, like your lawyer or accountant, make sure their business practice matches yours. Most importantly with an IT firm, talk to them about documentation and processes. There is nothing worse than an IT firm never providing you with complete network documentation.
I am sure you knew I would add this one since Your Remote COO is your small business operations expert.
You could be the best IT person, florist, lawyer or marketing person but without organization and solid operations, your business can only go so far. Operations runs your day to day business, there is no reason you need to be a jack of all trades and master of none. Invest in a relationship with an outsourced chief operations officer like Your Remote COO or hire a qualified operations manager to run your day to day. The operations team will handle the mundane business tasks so that you are able to grow your business and stay focused on doing what you do best.
There you have it, 4 professional services that you need to have when starting or running your business successfully.
Starting a business is simple but running it successfully is hard work. Be a smart leader of business and surround yourself with professionals that can elevate you and your business to the next level.
All the best in success,