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Small Business Owners - Why Should You Have Business Consultants And Attorneys In Your Team?
| Guest post by: Lalitha Brahma |
Article Overview: When I ask business owners why they are in business, I get one of these answers: I want to be my own boss and have freedom to do what I am PASSIONATE about. I want to have TIME freedom.
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Free Download - Entrepreneurs -Five Easy Ways To Boost Your Creativity? By Lalitha Brahma |
Small Business Owners - Why Should You Have Business Consultants And Attorneys In Your Team?
When I ask business owners why they are in business, I get one of these answers:
I want to be my own boss and have freedom to do what I am PASSIONATE about.
I want to have TIME freedom.
I have excellent SKILLS and EXPERTISE. I can make more money in less time and do not want the employer to decide how much I can make. However to run a profitable business, having skills/expertise or wanting time freedom alone is not enough. Starting and building a long term profitable business will require the business owner to learn, understand and sometimes teach the following aspects:
Knowing who you are and creating a Simple Business Plan that integrates your personality and business.
Entity Choice
Purchasing Office Equipments and Office supplies that will be required to run the business.
Marketing Plan
Hiring and firing employee/Independent Contractor
Business Insurance
Building a Website
Access to Capital
The knowledge of above aspects requires access to Business Consultants and Attorneys. Initially, a Small Business Owner can use internet for FREE resources and learn. However if a business owner spends his valuable time, energy and money learning the above mentioned important aspects, he will be devoting very little time doing what he is PASSIONATE about. In the process he is neither using his SKILLS/EXPERTISE nor having TIME FREEDOM. As you can see, the very purpose of starting the business is defeated. However if you HAD ACCESS to EXPERIENCED and AFFORDABLE business consultants and attorneys who could reduce YOUR learning time tremendously, you could spend that time in building your business PROFITABLY.
Action Exercises
Here are two things you can consider doing:
1. Write down the amount of time YOU spend or spent on researching the answers to your most pressing business and legal questions.
2. Considering YOUR hourly rate, what is the dollar value for the research time?
3. Would it be profitable for your business, if you had EXPERIENCED and AFFORDABLE business consultants and attorneys take care of these questions and you spent YOUR time on YOUR REVENUE PRODUCING activity?
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About the Author: Lalitha Brahma RSS for Lalitha's articles - Visit Lalitha's website Lalitha's passionate coaching process provides individuals and business owners with the knowledge necessary to transform their lives and their businesses. Her personalized coaching focuses on profits not revenue, and enables people from all walks of life to go from employer-dependent paycheck to life-altering, self-sufficient, profit-pulling entrepreneurship. Is your Regular paycheck stopping you from exploring the ENTREPRENEUR in you? If you answered "Yes", go ahead and sign up for her FREE Ezine to learn the secret of breaking the Regular paycheck barrier at http://www.elbeeservicesllc.com Click here to visit Lalitha's website   A Guide To Copywriting |
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I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles).
As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business.
This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business.
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Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
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[quote:ka7lg35i]Who Prepares Better Business Plans, Men or Women?
A new study based on four years of data from men and women in a training program for microenterprises finds that they come out the same in quality scores. "However, women scored significantly better on the presentation of their plan to judges," conclude the study's authors, Ronald G. Cook, Paul Belliveau, and Christine Lentz of Rider University, in a paper presented at a recent meeting of the Small Business Institute. [/quote:ka7lg35i]
What do you guys think?
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I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section?
Here's a list of what we currently have:
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Wish me luck, I plan on revolutionizing the small business world with this!
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