Most successful businesses start with a great idea. The next thing they need, though, is the right kind of funding. If you have a great business idea, you’ll want to talk to the following four professionals about how to get your business the right way.
An Accountant
If you’re going to talk finance, it makes sense to start out by talking to an expert. Working with an accountant is an excellent way to make sure that your business idea can feasibly be supported by your finances. A good accountant won’t just tell you whether what you want to do is possible. They will help to guide you on the path to making sure that you are making reasonable financial decisions.
A Loan Officer
Your next stop should be a loan officer. Unless you are planning on bankrolling the entire operation with the cash you have on hand, you’re almost certainly going to need to take out a business loan. Talk to a loan officer about what the application process is like, what you should expect when you apply, and what kind of funding is likely for a business that’s similar to the one that you have dreamed up. You might be surprised by how much information you can get from a simple conversation.
Another Person in the Business
It’s also a good idea to talk to someone else who is running a business of a similar size or in an industry similar to your own. These are the people who have already dealt with the biggest roadblocks to funding and who know all the mistakes you can make. Many of them are more than happy to let you learn from the obstacles they have already overcome. Even sitting down for an hour with another business owner can teach you quite a bit about how funding works.
LinkedIn is a great place where to find people with relevant experience. A simple search for the profile you are interested in, write a small connection request and reach out to them. Once they reply, try to schedule a quick consultation. More often than not you will get a free consultation, and get all your questions answered
A Securities Law Attorney
Finally, make sure that you talk to a lawyer who is experienced in dealing with business financing. A solid securities law attorney will let you know the legal implications of your business plans and will help you to find ways to get where you need to go while still complying with various state and federal laws. A good lawyer will be an incredibly valuable asset as you put together your business.
Always make sure to reach out to professionals about topics like funding. A few conversations can help you to avoid major mistakes, so have them early. Once you know how your funding should be set up, you can start to build your business.
