A lot of small businesses are started by people who have a great idea and a lot of expertise in a given field, but who are not really experts in the business side of things. They can deliver the products and services that excite them but they are not so good at billing, cash flow and the other boring “details” that people need to focus on when trying to run a business.
The good news is that for the most part business owners do not need to worry about complex models and the issues that big companies need to think about. They can get by with much simpler structures, if they get them right from day one. However, it will take some effort to sort this out. That is what a small business advisor can help with – providing business owners with the information that they need to set up a company that will run smoothly from the early days.
Issues like record keeping, tax, insurance and company structure are all major concerns when you are dealing with setting up a new company. A business advisor will explain these issues in a way that you will be able to understand. They will help you to make the right decision and will explain the benefits and downsides of each structure and choice. This means that you will be in a position to not just make the right startup decisions but also evaluate your options for the future.
Running a business is very rewarding, but it is a big undertaking so it makes sense to seek advice whenever you can and use the knowledge and experience of those who have come before you. When you are successful, perhaps you could become a mentor yourself!