If we’ve learned any big lessons since starting our business, it’s the importance of teamwork. ❤️🐘
As entrepreneurs we wear many hats …. and some of those hats fit perfectly while others aren’t so compatible. We’ve learned that surrounding ourselves with smart professional advisors as part of our team is the best step we can take to protect our business’ health.
Advisors are important. Here is our go-to list of who to surround yourself with to ensure all your bases are covered:
1. A corporate lawyer
The first team member we recruited on our advisory team was our corporate lawyer. Following an hour long call, we knew why we needed to incorporate, what that structure looked like and we knew next steps (i.e. contracts!). A must.
2. Insurance provider
Next up was talking to insurance providers to protect the business. We needed professional liability insurance and we needed insurance to protect us with a contingency plan in the event that something happened to key decision makers.
3. Accountant and bookkeeper
Yes, even we have accountants! We know that it’s important to have accurate and timely financial information, so we get our books done and we review the results monthly. We consult tax specialists on big changes. We chat with our accountant (i.e. one of our team members!) on year end filings and planning.
Now we’ve got a killer team - we’re empowered to go and do what we do best with our risks out in the open and planned for.
Next up are:
- website designer
- employment lawyer
- HR advisor
- business development support
An advisory team is important. If you are looking for support to build your finance team, we would love to chat! Reach out at hello@modaccounting.ca to schedule a call to chat. 💕