Having personally run businesses for nearly 10 years and having worked with business owners for almost 20 years, I have formed some very strong opinions, based on clear evidence, when it comes to having a support network of professionals around you.
First let me say – You cannot operate a business well or for as long as what you can when you invest in your health and wellbeing. Starting and running a business is mentally, physically, and emotionally taxing. You need to be investing time and money in your physical self as well as mental self, to give yourself the best chance of achieving ‘your success’.
But let’s bring it back to your network and your environment. Often when you start a business, cashflow is low, so you attempt to do everything ‘on the cheap’ and with the Aussie mindset of ‘she’ll be right’. But when things go bad, or the pressure is on, neither of those are good options. Invest for success now! So, who do I have in my corner that I recommend you have in yours (in no particular order):
- Lawyer – Ensuring all legal documents, engagements, contracts etc. are watertight. Whether you are engaging a new client, selling a widget, or employing your first team member, you need to get it right from the outset. Protect your business and your personal assets as well as your business brand. A competent lawyer is vital to ensuring you not only remain operational, but that you do not engage something that puts you in professional danger (at risk).
- Accountant – The old bean counter! Sorry to all the accountants out there. Historically people felt that accountants were simply there to lodge their tax return. This is most certainly NOT the case. Having all structures for operation appropriately set up is crucial to the long-term success of the business as well as your personal assets protected. Nobody likes paying more tax than they need to, so get your structures right to ensure all income is paid out appropriately. At business sale time, this investment will become invaluable. From personal experience I promise you, this is a big one.
- Mentor/Coach – A huge part of my journey has been having the best support, guidance, and advice along my journey. Whether it’s personal (nutrition, routines, stress management etc.) or professional (revenue goals, collaboration ideas, understanding your target market etc), having this support person is vital. A neutral voice to challenge and support your way of thinking.
The work I do with my clients and often the key people in their business, is more than just health and wellbeing. It is about creating a lifestyle that supports their professional journey. A professional journey that has to align with their personal vision of success. However, my role is to also help them build the strongest team of professionals around them to support their journey.
Never go it alone. Build your team of professionals and enjoy the journey to ‘success’.