It Takes a Team – Banker, Accountant, & Lawyer

One way to mitigate poor financial decisions is to put together a team. There is no one on this earth who can know and do everything themselves. When you stay educated, but also hire a team to help you make good decisions, it makes it easier for you to break through almost any financial mindset blockers with their help.

Banker

A good banker can help you with all sorts of information that you may need for your decision-making process. You need a bank that works with the type of business you are in the way you need to do business. Don’t overlook your local banks and bankers. Sometimes local is better and they still have all the technology that online banks have.

Accountant

Every good business needs an accountant. You may also feel that you need a bookkeeper too although many accountants can set you up with mostly automated accounts which may reduce your need for a bookkeeper but it’s up to you. The more people you have watching the money, the better.

Lawyer

You’re going to need contracts, licenses, and so much more as a long-term business owner. Having the help of a lawyer or having one on retainer in case you need them is a good way to add this position to your team to help protect you from making bad choices. Remember that sometimes bad choices are just due to lack of knowledge and this person will give you knowledge when you ask them the questions.

It’s important to make it part of your business plan that you’ll hire these professionals for your financial team. But, one problem with hiring professionals is that you must be willing to listen to them. If you won’t listen to your professional’s advice, why have them?

First, hire the best that you can afford. But then also learn enough about the topic so that when they’re talking to you about issues as they come up, you are aware of what’s going on and you understand their advice, so you can make good decisions.

Even if you cannot afford to talk to every one of these professionals every single day, having them on your team part-time, or on retainer, just in case, can often be all that you need to ensure that you make good choices for your financial future. If you cannot afford these professionals, you can at least read their books, take their courses, and study the subject so that you will at least be aware of your deficiency.

Building your financial team may take some time. But understand that this team is imperative to your continued success because they will keep up to date on important legal and financial matters while you keep informed on what your audience needs and wants so you can create it.

For more conversations and networking, join me inside the Facebook group "The Ripple Experience for Entrepreneurs" here:

 https://www.facebook.com/groups/513305429902936