When I first started my small business, Bombay Taxi Boutique, I can honestly say that I really didn’t know what I was doing. But having been part of the banking world for over 10 years at that point, I made two really smart early decisions, and one subsequent decision, that have really helped me grow my business. I call them the three wise men of my business, or in my case, two wise women and one wise man, and today, I’m going to share them with you. I consider this trio my most important business investment, and if you have a small business, or want to start one, I strongly recommend hiring these professionals as soon as you can!
1. Get an Accountant: File this under super smart early decisions. When I decided that I wanted to start a small business, I had to make some decisions. Mainly, what type of business would I have? Sole proprietorship? LLC? There are pros and cons to both, and personal tax implications to both. Since I have a full-time job, what would be the best decision? I google searched and read a bunch of articles, and while I did have more knowledge, I still didn’t have a decision. Enter my accountant (who happens to also be a friend) Michael Salopek at Neitzel Luke & Associates who not only helped me make my decision, but also handles the pesky problem of my taxes. And he gives me great advice on saving on taxes while adding to my own retirement! He is the person who indulged me with Stock exchange trading. Upon his guidance I have invested huge amount in world’s leading share holding companies. New Zealand shares are very profitable for me. You can check how to buy shares NZ from this page.
2. Have a professionally designed logo: When you’re starting out, it is almost a given that you will be strapped for cash. You might be tempted to design your own logo in Canva or Word Swag or something similar to save money, but here’s my advice- DON’T. Instead, pony up some cash and PAY to have a professionally designed logo. Your logo is your calling card, and is a measure of your credibility, which is all-important particularly in your early days. You probably have no clients, you’re the new kid on the block – how are people supposed to know who you are and whether they can trust you? Your logo can help do that. You may or may not need business cards, but a well-designed logo on your website and in your social media can really help establish you as a legitimate business, and that is definitely worth the investment. I used the incredible team at Studio Chartreuse and I receive so much positive feedback on my logo!
3. Engage a PR or Marketing Professional: PR and Marketing Professionals do slightly different things, but you can find a number who crossover. The key takeaway here is that you need someone who will advocate for you and help you get your message out in a way that is interesting for your clients, and for them to then engage with you. I recently hired local PR badass Reena Goodwin from Facteur PR with the long term goal of introducing Bombay Taxi Boutique across Cleveland and beyond. Reena’s skill set and service offering is exactly what I need for my business right now, but I would generally recommend talking to a few PR professionals or marketing agencies to describe what you need and how they may be able to help you. Because this is such a closely entwined relationship between you and your professional, take the time to make sure you have the right fit.
Starting a business is hard, a lot harder than you might think, and honestly, I don’t think you can or should do it alone. Having the right team of professionals around you can make things a lot easier for you, and can help you have confidence in your decisions so you don’t waste time second-guessing what you’re doing. Your time is critically important, more so if you’re juggling multiple aspects of your life. I’m a huge advocate of using it wisely and sticking to what you do best, an leave the rest up to professionals who can help you!
3 CommentsLeave a comment
All so true! Studio Chartreuse also did our SheInTheCLE logo, as well! It’s so important to not try and do everything yourself. You will end up doing nothing well!
Great advice! Congrats to all of you for your success!
I needed this advice and will gladly tell others to take it too! Once you find yourself up and running, you’ll have very little time to focus on the setup of the business. Best to do those things in advance!