Get Your Team in Place.

If you are new to running your own business, here is a bit of advice we have been giving to clients here at Bowie & Jensen for almost 20 years: get your professional team in place as soon as possible. All businesses, especially small businesses, need a good solid team of professionals to help them from the start.

A C.P.A. to advise on tax,accounting and financial issues; a banker to help with capital needs and cash flow management; an insurance advisor to help with health, property and casualty, and malpractice insurance if appropriate, not to mention life and key man insurance; and finally a lawyer to help with choice of entity, entity formation, leasing, employment, trademarks, contract and other legal issues that come up in each business.

We advise that you be very skeptical of any one person or firm that claims to be able to supply players for more than one position on your team. It is very hard to be good in one area, and exponentially harder to be good in two or more. Make sure your team members know and respect each other. You want them pulling together in your best interest, not trying to prove to you that they are the smartest or most valuable member of your team. Finally, use your team to help you gather information, analyze it and make decisions to move your business forward.

Getting the team in place from the start allows you to establish a solid foundation for your business. Please contact Mark Jensen at jensen@bowie-jensen.com for more information on this topic.