5 People Entrepreneurs Need On Their Team
During my initial coaching sessions with new clients, I often notice a common problem. That problem is that most of them want to do everything themselves! And though initially they may be able to do it, there will come a time when they will have to get help, especially if they want to grow their business and maintain their mental stability. Since I am not a licensed psychiatrist and won’t be able to provide them medical support, I try to help them avoid mental instability by recommending that they have the following 5 people identified for their support team.
- Assistant – There will be so many tasks required when you start your business that an assistant will be a must. As an entrepreneur, you have to stay focused on executing the strategic vision and not get bogged down in working on every single task. Sometimes what is even worse, is that some tasks are missed altogether because they get overlooked. An assistant can help make sure that these important small things are done.
- Attorney – The legal structure of your new business is one of the most important decisions you can make. Most budding entrepreneurs have no idea if a sole-proprietor, partnership, corporation or LLC structure will be the best match for them. Legal expertise on the front end can help you get that decision right from the onset and avoid unnecessary expenses on the back end. Attorney’s can also review legal documents and provide you insight before you enter into any contracts that might be the best for you and your company and .
- Accountant – As an entrepreneur, if your business does not make money, it probably does not make any sense. That’s why having a person to watch and make recommendations on the best way to track and manage your money is crucial. And what might be the most important thing is that they can handle reporting your taxes to the IRS.
- Mentor – Having a mentor is crucial to an entrepreneur’s success. A mentor can accelerate your learning curve by providing perspective. Their experience will help you avoid any of their mistakes, or reduce the amount of time spent spinning your wheels in situations that they are familiar with. A mentor-entrepreneur can also help you by providing access to their own network which in most cases will be more mature than yours.
- Coach – With so many ideas in your mind and that same amount of tasks or more on your to-do list, a coach will play a crucial part in your success. Your coach will act as your thought partner, helping you prioritize responsibilities, assisting you to define your execution strategy and then following up to hold you accountable for the execution. They will help take you from “I want to” to “I will.”
As an entrepreneur, you will not be able to be an expert in everything, therefore you have to surround yourself with other people to help fill in those gaps. Your team will be critical to your success, so getting the right people on board to provide expert advice and to keep you on track to what is important to building a strong sustainable business model.