Whatever your industry, there are a few key roles you definitely want to have filled on your team. These are essential and optional support staff that can help you stay out of trouble and grow your business:
Essential! Your CPA is your tax compliance expert who knows the ever-changing tax laws and how to interpret the laws as they apply to your industry. They are exactly what you need to maximize your deductions to reduce your taxes owed.
2) Insurance Broker
Essential! You’re going to want to have the right kind and right amount of protection for general liability, Errors & Omissions, Directors & Officers and other kinds of insurance and your broker will make sure you have that and can help keep you in compliance with Workers Comp and Disability insurance. They can also give you good information for personal coverage, like life insurance.
Optional, but you know we recommend it. Whether outsourced or in-house, a bookkeeper helps you organize your financial information to be able to plan for the future and understand your business trends over time. A full charge bookkeeper can do everything from data entry to the preparation of reports for your review.
If you need help analyzing or interpreting your reports and looking at “if/then” scenarios, then you may want to talk to a CFO. A CFO can also help with internal structure and controls, outside financing, project management, and strategic planning so that you can focus on innovation and the more creative side of your business.
Optional, but recommended. Having someone to look over contracts and agreements before there is a problem can save you time, money and stress. Lawyers can help identify potential issues with clients, employees and partners and structure language to protect you. There are a lot of online resources for “boilerplate” language so you can do the first draft to save money and have your lawyer look over later.
6) Consultant/Business Coach
Optional, but recommended. If you’re stuck and need help figuring out the next way to produce the best results for the growth and management of your business, a business coach/consultant can help get you back on track and inspire news ideas. Remember, it’s more important to have someone with experience with businesses of your size than in your industry, as growth challenges tend to be similar across industries.