Even the smallest and newest business needs help
from at least two kinds of specialists: an attorney and an accountant.
Depending on your type of business and your skills you may need
the advice of other professionals such as an insurance agent, computer
specialist or public relations experts. There are several guidelines
you should follow no matter what kind of expert you are dealing
with.
Always interview professionals to make sure you feel comfortable
with them. Since you will be exposing various aspects of your
business, you may want to check out their references before deciding
on a particular person. Also make sure to check out the fees
that you will be paying ahead of time so you won't be surprised
when you receive their bill.
Be honest about your business situation. If you are seeking
advice on investments or legal matters, you will only be hurting
yourself in the long run if you are not completely honest. Professionals
need complete information in order to give you the proper advice
based on your particular situation and needs.
Always pay your professionals on time and be prompt in keeping
your appointments with them. Remember that your professionalism
is also being considered by the professional you are working
with.
Your Lawyer can help you with many stages of business from the
initial setup to handling more difficult aspects of your business.
A lawyer can help you decide which business entity you would
benefit the most from such as sole proprietorship, partnerships
or a corporation. He or she can help you with zoning, licensing,
contracts, patents, trademarks, copyrights and other legal problems
or questions. Since there is always a possibility of a lawsuit,
you will also want to have someone who is familiar with your
business before any legal crisis may occur. You should also consider
when choosing a lawyer, what their specialty is so they will
be the most beneficial to you should a situation arise.
When choosing a lawyer, it is always best to go with someone
who comes highly recommended as well as for the fees they charge.
You might find an attorney who charges $75 an hour, only to learn
that he has little experience in business ventures and may not
be the best choice for representing you and your business. Should
you decide to hire an attorney on retainer, always have a written
agreement as to what you expect and what is expected of you in
your working relationship. You will also need to agree on a high
spending limit so that if additional work is required beyond
what you intend on spending for fees, the attorney should call
you before proceeding so you won't be shocked by unauthorized
fees on your bill.
Your accountant is a very important part of your business. As
with the attorney referral, you will also want a referral for
an accountant. He or she will have access to all of your business
information and you should be able to trust that this information
will remain confidential. Discuss fees in advance and have your
attorney write up an agreement about how you will work together.
Decide in advance whether the accountant will handle all matters
of your financial workings, such as all data entry and tax computations,
or if he or she will simply be double checking your own work.
I have found it most beneficial and financially "doable" to have
the accountant go over my records at the end of each year when
the annual tax returns are filed. Many, prefer to have an accountant
involved in the quarterly tax returns or even in the day to day
recording of accounts payable and receivable.
Making the right choices as to the professionals that will be
involved in your business is important. Remember, they work for
you so you'll want to interview each one thoroughly and make
sure you feel that you can trust them completely with your business
matters.
Kim Haas is a WAHM and Founder of
Womans-Net.com,
a popular online networking community focusing on working from
home and women in business and owner of
http://Article-Host.com.
To learn more about Kim, visit
http://kimberlyhaas.com
Copyright 2005 Kim Haas