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Put Together a Team

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Taking your side hustle to the next level can be a little scary and intimidating—all of the forms, legal procedures etc. What you need is a good team of professionals to work for you and with you to get you through the process.

When setting up a legal business entity, like a LLC, you will want to consult a good attorney, a good accountant and a good insurance agent. Each of them can help you save time and money, help protect you against future problems, and work with you to avoid problems in the beginning.

Attorney   Accountant   Insurance Broker
What can they do for me?
  • Help you choose what business type best fits your needs and help you to set it up properly.
  • Help to protect you against future legal problems through advice and planning.
  • Review client contracts to make sure you are properly protected.
 
How do I choose a good one?
  • Attorneys are highly specialized. The best criminal attorney in the country may not be able to handle a simple real estate matter. Choose an attorney who has contractual and small business experience. If possible, choose an attorney who has experience working with your particular kind of small business.
  • Ask your attorney for references from past clients and make sure those clients are happy with the service they received.
  • Contact your state’s local bar association and ask for information about your attorney’s educational background, track record, and qualifications. Make sure there are no formal complaints.
  • Choose someone that you are comfortable with. Someone that you can be completely honest with, and who you are comfortable with taking advice from.
  • Don’t be intimidated. They are working for you.

 

What can they do for me?
  • Help you set up your bookkeeping system, offer general financial advice, provide quarterly financial reports to help you make business decisions and handle your tax filings every year.
  • Help you decide what legal business type makes the most financial sense.
  • Help you network with other clients and professionals they know. They can help with both your networking and with building your customer base.
 
How do I choose a good one?
  • Choose an accountant that has experience with small businesses and, if possible, with your specific type of small business.
  • Your attorney can help you choose an accountant. See who he uses.
  • Check their references and get referrals from other business people.
  • Your accountant doesn’t necessarily have to be a CPA (Certified Public Accountant), but the extra credentials won’t hurt.
  • Choose someone you feel comfortable being honest with and getting advice from.

 

What can they do for me?
  • Help you decide which plan, provider, and options are right for your specific business.
  • Act as a buffer and fight for what’s best for you.
  • Offer advice if you have an insurance claim against someone else.
 
How do I choose a good one?
  • As with both your attorney and accountant, you want to choose someone you feel comfortable with. Someone you trust and are okay with taking advice from.
  • Choose someone who has a lot of experience.
  • Check their references with past clients.
  • Get other business people or customers to recommend someone they’re happy with.
  • Insurance agents must be licensed in each state. Check with your state government to make sure they are properly licensed and don’t have any major complaints against them.

 

 

 

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