Who should be on my business’s advisory team?
Updated: Dec 5, 2022
Maybe you’ve taken the exciting and empowering step of starting a business. Or maybe you’re an established business and reassessing your business’s needs and goals now that you have some time and experience under your belt. Whatever your situation, it’s a great idea to consider what advisors and partners you can and should have on-hand to help you protect and develop your business, such as:
Attorney: We would be remiss not to start with our personal favorite, your legal partner. Your attorney can assist you with your business’s contractual needs by drafting and reviewing your business’s contracts, which can save your business from future costly disputes or lawsuits. They can also help you conduct a thorough legal assessment of your business and provide you with the steps necessary to help address any identified gaps for you to best maintain your business in good standing and avoid any interruptions to your business’s operations. Ultimately, this will benefit your bottom line and can mitigate risk to your business.
Accountant: Your accountant will be one of your business’s most important advisors. There is no doubt that business is driven by matters of finances, taxes and numbers. We would recommend that you form a partnership with an accountant that you trust early in your business, and they can help you identify your accounting and tax obligations at the outset. Accountants can also help you analyze your business’s finances to make decisions that lead to the growth of your business.
Banker: Choosing the right bank for your business and forming a relationship with a personal banker can help provide your business with access to the banking products and services that can help your business grow and abide by applicable laws. The more your banker knows about your business and its evolving needs, the better your banker can help you assess the next steps for your business.
Insurance Provider: Your business may be your primary source of income and is undoubtedly a product of many hours of arduous work and passion. That means it should warrant the same level of protection that you may give your home, car or possibly life via insurance coverage. Insurance is one of the most important sources of protection for your business and its assets. A good insurance broker can help you identify the best coverage for your business and can help you reassess if and how that insurance coverage should change over time as your business evolves.
Please contact Serna Legal Services at 312-601-9859 or email@example.com if you’d like to learn more about this topic or you’d like to take the first step toward establishing a partnership with our legal team. Remember that with Serna Legal Services, your business will ¡Celebra! Legal Services!
This content is published by Serna Legal Services, LLC and is available for informational purposes only and is not considered legal advice on any subject matter. By viewing this content, the reader understands there is no attorney-client relationship between the reader and the publisher. The content should not be used as a substitute for legal advice from a licensed professional attorney, and readers are urged to consult their own legal counsel on any specific legal questions concerning a specific situation.