Studies show 80% of new businesses fail within the first five years. That’s an overwhelming number and an eye opening statistic for serious entrepreneurs. In light of this, positioning yourself for business success is critical. That means getting in alignment with experts who can help turn your business dream into a profitable reality. Take a look at these 5 must have professionals you need to create your business dream team & avoid business failure.
Every great player needs a great coach. If Kobe Bryant and Lebron James have a coach, you need a coach too. A business coach looks at where you are and creates a game plan for where you’re going. An awesome business coach is well versed in business strategy and has a track record of transforming businesses and their owners. To clarify your vision and elevate your strategy, a coach is an indispensable part of your team.
Social Media Strategist
By now, the whole world seems social media obsessed and it seems everyone is on it, young and old. Yet, how can you translate followers into customers, likes into sales and photos into ads? Knowing how to use social media for more than a popularity contest will serve you well. Hire a social media strategist to create an out of the box, masterful campaign that will get you noticed, heard and paid.
Yes, you need a reputable, experienced business attorney on your team. No short cuts, internet contracts or “do- it- yourselfâ€ stunts will do. You need the real thing to help you guard against liability and ward off litigation. Your attorney is the watch dog of your business and not having one is like leaving your front door open while you sleep. It’s not prudent, safe or wise.
Hiring an accounting professional is one of the smartest things you can do, unless you like run-ins with the IRS. They can manage business records, accounts receivable, accounts payable, and if needed, payroll. Most importantly, they file your quarterly tax forms and maintain your financial records. Don’t let budgetary constraints restrict you. Most accounting professionals offer part-time or as needed services to accommodate your needs.
Public Relations Professional
PR is the mouth piece of your brand. It’s one of the most effective ways to build your business and strategically communicate your message. When targeting your ideal consumer, PR can help you maximize your exposure and bring visibility to your brand in a variety of ways. If you’re ready to harness the power of publicity and kick your exposure to the next gear, hiring a PR professional is a great move.
Remember, your business can be profitable and sustainable, despite what the statistics say. You can win at entrepreneurship. Just be persistent, constantly focused and have a dynamic dream team to help you do it.
Teri Harrison is the CEO of Fearless & Fabulous Worldwide, a personal development and business consulting company for extraordinary entrepreneurs. She is also the author of Winning at Entrepreneurship: Innovative Strategies for Small Business Success. For daily empowerment and business insight, follow Teri on twitter: @_teriharrison.