Choosing a GREAT “Dream Team” for 2012
Happy New Year! It’s a new year with new opportunities and new challenges. Most importantly, it’s a chance to re-create your awesome professional team of supporters and advisors—-almost like your own personal Board of Directors!
I am talking about your “Dream Team”—those individuals who are professionals but also confidants and advisors that will propel your business into the next level of profitability and sustainability. This blog will tell you WHO should be on this “Dream Team” and WHAT you should look for in a “Dream Team” Member as well as HOW you go about filling the slots on this “Dream Team.” Let’s begin.
Who and Why?
- Banker- This should be obvious but this Team Member has access to capital, i.e. money, that can help provide your business with cash flow or an emergency loan if one is needed.
- Attorney- Again, this should be another obvious Team Member. Nothing can shut down your business faster or eat up more of your profits than a lawsuit or unknown regulation or rule. Make sure you have a business attorney that understands businesses and can respond to your business needs. Of course, Kendrick Law Practice is always at your service (www.kendricklaw.net).
- Insurance Agent- This may be less obvious than the previous two (2) Team Members but remember that insurance (premises liability, umbrella, health, car, home, life, personal, etc.) is important to make sure in case something unexpectedly happens, your business and you are protected.
- Accountant- This should be another one of those pretty obvious Team Members. Someone has to count, record and analyze the expected cash flow that you are highly expecting to receive right?
- Business Consultant- This is someone who knows how to run a business and that can give you not only business theories but timely practical tips for short term tactics and long term strategies to grow your business.
- Marketing & Branding Expert– No one can sell your business like you but it never hurts to have some extra help to focus your time, money and energies towards productive marketing efforts.
What? (should you look for in these Team Members)
- Look for someone you are comfortable with– Clearly you need Team Members that you feel you can trust and talk to about sometimes difficult business issues;
- Look for someone knowledgeable- Your “Dream Team” is only going to be as powerful as your weakest Team Member; hire professionals and sleep easy at night;
- Look for someone who has access to your ideal client- It never hurts to have someone on your Dream Team that can send clients your way; it just makes sense; and
- Look for someone that believes in you and your business- A professional that just sees you as another “client” or “referral base” without believing in your mission is a LIABILITY and not an ASSET.
How? (to Choose Dream Team Members)
There are different strategies, wants and needs to picking individuals for your “Dream Team” but I will tell you how I did it for Kendrick Law Practice. I asked myself the following questions:
- What is the most valuable asset for me for Team Members? For me, it was access. Even if I obtained Donald Trump or Oprah Winfrey as Team Members, if I couldn’t access them (email them and get a response or pick up the phone and call them), they were useless to me. So I choose professionals I could contact at home or on their cell phone and I knew were responsive to communications I sent.
- Who is in my vicinity? Part of having access is the ability to drop by for coffee or lunch to maintain constant communications with my Team Members so I asked who was located where my business was located or in areas I frequented.
- Are they in my area of expertise? Not only did I choose a banker, I chose a small business banker. I didn’t go to a large accounting firm; I choose an accountant who works with small business owners. These are not only potential referral sources but there is a connection with common goals and passions we both share.
DISCUSSION QUESTION: Who else would you add to YOUR “Dream Team” and why?
Why Kendrick Law Practice?- We SAVE you money by:
- Providing access to comprehensive legal AND business advice and consulting, creating value for
your company’s investment in us.
KLP’s Founder, Dar’shun Kendrick, holds a law degree and Master’s in Business
- Providing security through our three (3) point guarantee:
- “24 hour guarantee”- You will receive a phone call from an attorney within 24 business hours of submission your information through our website;
- “72 hour guarantee”- You will receive your document drafted or reviewed within 72 business hours after payment (or it’s FREE!) and
- “Dispute guarantee”- KLP will negotiate the terms of any document that we drafted or reviewed FOR FREE should a dispute arise (*Does NOT include litigation costs.).
- Providing predictability through our FLAT FEE pricing on most of our services. You know EXACTLY what you are paying for a completed document.