When starting a new business, it is important to not only research tasks to get started, but also who will be on your business team. Your business team is a collection of professionals who assist your business with how to structure your business, legal compliance, liability protection, setting up your financial software, and tax planning. Below are considerations when considering professionals for your business team. 

Business Attorney

A Business Attorney will guide you on choosing an entity structure, draft your operating documents, interpret contracts, prepare standard contracts the business needs to operate, assist with leases for commercial space, and review loan documents before you sign on the dotted line. Having an attorney to reach out to with questions, concerns, and to provide your quick dispute resolution when a problem arises. It is not a good idea to wait until you are being sued to start looking for an attorney to assist.

 When evaluating a business attorney to add to your Business Team, consider the following:

1. Communication. Does the attorney respond to your questions and emails? Are you only speaking with the receptionist every time you call? Do you get the feeling that your attorney is not the one doing the work and is unable to answer simple questions?
2. Flexible Price Structure. Is the attorney flexible with the fees that your business will pay? Most attorneys offer monthly retainer, flat fee, hourly, or hybrid price structures for services.
3. Connections. Attorneys are specialized, and your business attorney is not going to have experience and skills to handle every legal issue that arises. It is vital to find an attorney that is honest when a situation arises that is outside of his or her expertise and has relationships in the community that allow your attorney to get you to a quality attorney they know in a hurry.
4. Location. With the progress of technology, many attorneys can accomplish tasks and successful representation from afar. When considering an attorney that will be providing remote representation, ask about the technology that the attorney uses or the plan on how the representation from afar will not cause a burden to your business.
5. Open to Learning. Even if the business attorney does not specialize in mobile dog grooming businesses, is he or she willing to learn and get to know your business and the unique situations that your business will encounter?

Commercial Insurance Broker  

A Commercial Insurance Broker will assist you with your insurance needs that are unique to your business and protect your business from liability and loss.

When evaluating a Commercial Insurance Broker to add to your Business Team consider the following:

1. Interested in Protecting the Business. It is important to feel like the broker is seeking to get you the best protection for the best price. Conversations should be focused as much on what your business does as what your insurance options are. Has the agent considered the liability that is unique to your business?
2. Experience. Has the broker been in the commercial insurance game for a while, or is this his first rodeo? Has the agent/broker worked with a similar business? Do not depend on the agent who helps you with your personal homeowner’s insurance to automatically know about your business’ commercial insurance needs.
3. Options. How many insurance companies work with the broker/agent? You want to make sure that you have a variety of options for coverage and you are not limited.
4. Quote Process. Was the process of getting quotes smooth? This experience is a good introduction to how the broker/agent does business.
5. Reputation. What have other business owners said about the insurance and agent/broker? Explore online to see what kind of feedback is available. Are most of the reviews positive?

Certified Public Accountant (CPA)

 A Certified Public Accountant (CPA) will assist you with tax planning and set up for your new business whether it be how to pay yourself, the best way to tackle payroll for employees or get your bookkeeping system set up. Many business owners do not hire a CPA to save money, which is a mistake. Hiring a CPA can save you money and avoid many headaches.

 When evaluating a CPA to add to your Business Team consider the following:

1. Qualifications. Make sure that you are hiring a CPA and not a bookkeeper for tax planning.
2. Fees. Are the fees set for tasks, or are the charges based on hourly work? Are there differing prices for different people that will be working on your business’ account?
3. Services Provided. Does your CPA only handle taxes or will the CPA also be able to assist with bookkeeping and payroll needs? Do you want these services all from one office?