| The statistics on small businesses going broke in | | | | that they document all communications with your |
| the first 12 months of operation are nothing short | | | | accountant.Remember one thing, it does not |
| of obscene and seriously scary. In Australia and | | | | matter whether your Bookkeeper or your |
| other western countries such as the United | | | | accountant makes a mistake, ultimately, you as |
| States 70% of all small businesses fail within the | | | | the business owner are responsible for your |
| first 12 months of operation but let me tell you | | | | books. If they get it wrong, it will be on your |
| from experience, surviving after that 12 months | | | | head, so always make sure that you understand |
| is no less harrowing.After 10 years of running four | | | | what they are doing.Adviser 5: IT |
| small businesses and creating them from scratch I | | | | PersonEverybody hates computers and I am a 20 |
| can tell you with some authority, that I did not do | | | | year veteran of the industry and I still hate them. |
| this on my own. In fact, I reckon I have made | | | | Having a good IT person is essential. Most |
| every mistake in the book on how not to run a | | | | businesses today are now totally reliant on their |
| small business, but yet I have still survived. The | | | | IT Technology and if your technology goes down, |
| secret to staying in business is all down to being | | | | the question you need to ask is, "could your |
| able to talk to my ten Small Business Mastermind | | | | business still operate?" If the answer is no, then |
| Advisers.My ten Small Business Mastermind | | | | you need to hire an IT person who will be there |
| Advisers are there as my support team in helping | | | | in an emergency.When choosing an IT Person or |
| me make the right decisions. See often when we | | | | company make sure they are qualified in the |
| make a decision in small business, it might be right | | | | technology you are using. For example, if you are |
| at the time but down the track it can do you a | | | | using Microsoft Windows technology in your |
| lot of harm. Having your small business | | | | office, then your IT Person should have at the |
| mastermind advisers on call, you can simply call | | | | very least the Microsoft Certified Desktop |
| them and ask them the consequences of the | | | | Support Technician qualification.Adviser 6: Website |
| choices you are about to make.For example, | | | | and Search Engine ExpertIf your business is not |
| having the right business structure and putting | | | | on the web and you are not selling products to |
| your business assets in the right structure will play | | | | the global market then you are making your life |
| a major roll in the success of your business when | | | | incredibly difficult and you are missing out on lots |
| you decide to exit the business. Se e most people | | | | of opportunities. The internet is a fantastic tool |
| who go into business only ever think of the | | | | for doing business but be warned there are lots |
| business as a job they do not look at it from the | | | | of crooks out there, especially in the search |
| perspective of how they will exit the business | | | | engine optimization industry.Before choosing a |
| when they have built it into an enterprise.Those | | | | web builder and search engine expert ask to |
| ten small business mastermind advisers will help | | | | speak with some of their existing clients or talk to |
| you to ensure that you have met your obligations | | | | other business associates and find out who they |
| and that there are no hidden issues that might | | | | use. I will say you should expect to pay anywhere |
| come up in the future for your business. For | | | | between $1,500 to $5,000 per month for this |
| example, we recently chose to sell off our car | | | | service depending on your business and what sort |
| cleaning business as my wife wanted to pursue | | | | of income you want to derive from the |
| something different. Because of the way I had | | | | internet.Adviser 7: Business CoachBusiness |
| structured some of the trademarks in my | | | | Coaches, are like website and search engine |
| company that related to hers, when we went and | | | | experts, there are a lot of snakes out there who |
| sold the business it created a number of | | | | have no real small business experience. Before |
| headaches in the sale process. Essentially we had | | | | choosing a Business Coach ask them if they have |
| to shift ownership of those trademarks to her | | | | ever owned a small business or if they had been |
| company prior to the sale which created a | | | | a principle small business manager.If you have |
| number of financial costs that we have had to | | | | been in small business for a while, then it will be |
| endure even though my company never made | | | | very obvious to you as to which business |
| any money. This issue arose simply because in | | | | coaches have owned businesses before going into |
| the early days, I did not have my 10 Small | | | | business coaching. Their approach will tend to be |
| Business Mastermind Advisers to tell me how my | | | | more practical then something out of a book. |
| choices would impact on me in the future.Adviser | | | | Once again before choosing a business coach, talk |
| 1: AccountantIn business today, with the | | | | to your business colleagues and see if they can |
| complexities of superannuation, sales tax or GST, | | | | recommend someone.Adviser 8: Financial |
| income tax and all the other taxes out there an | | | | PlannerManaging your money is a major issue and |
| accountant is a must. As a small business owner | | | | most accountants will not give you Financial |
| you need to find an accountant that is a small | | | | Planning Advice. A good financial planner will be |
| business specialist and is proactive in working with | | | | able to help you where to put your business |
| you.What I have found is that some accountants | | | | money, to get good growth but also to be easily |
| will only do what you ask them to do and will not | | | | accessible.You should also have a good financial |
| step in and give you advice if you do not ask. | | | | planner for your personal 401k or superannuation |
| You want an accountant that if they see you are | | | | policy but also if you are managing an employer |
| doing something wrong then they will tell you | | | | superannuation program. Most small business |
| without you asking.The other thing you will need | | | | owners forget to build their own 401k or |
| to ensure is that you hire an accountant that | | | | superannuation policy as they are building their |
| outlines where all of their hours are going. It is | | | | business and when they get to selling their |
| very easy for you with accountants and solicitors | | | | business they find they do not have enough to |
| to end up with 5 or 6 figure bills.Adviser 2: | | | | live on once they retire because once the |
| SolicitorThe solicitor is another important Small | | | | business debts are paid off, nothing is left.Adviser |
| Business Mastermind adviser. Just like the | | | | 9: Business BankerFinding the right bank and right |
| accountant you need to make sure that the | | | | business banker is essential to succeeding in |
| solicitor is a small business specialist. The role of | | | | business. You definitely need to build a |
| the solicitor is to help you with all legal issues like | | | | constructive relationship with your business banker |
| what structure suits what you want to achieve, | | | | as they will be your life line in a dire cashflow |
| do your forms and policies meet your legal | | | | situation or if you need money for a deal you just |
| obligations, like your privacy policy, recruitment | | | | could not let go by.Business Bankers can also help |
| policy etc.They can also help you protect your | | | | you with other issues like leasing and hire |
| assets and in particular your intellectual property | | | | purchase accounts, but also other facilities like |
| like trademarks, copyright etc. Often small | | | | merchant facilities, sales tax bank accounts |
| business owners do not do the basics of | | | | etc.Adviser 10: Insurance BrokerI learned the hard |
| trademarking their business name and logos to | | | | way on how important an insurance broker is to |
| stop other business predators using their | | | | your business. The previous insurance company I |
| identities.Adviser 3: Marketing and Advertising | | | | dealt with did not advise me that none of the |
| ExpertA Marketing and Advertising Expert is a | | | | glass in my building was covered if I was broken |
| must in today's market place. I have found that | | | | into. I have extensive insurance, but because |
| with the various media types, people in the | | | | Glass was an optional extra, the previous |
| industry can get better deals than if you dealt | | | | insurance company did not tell me this and when |
| with the media owners. For example, recently I | | | | we were broken into, even though I pay over |
| chose a new advertising specialist to join my small | | | | $5,000 per year in insurance, I still had a $4,000 |
| business mastermind advisers because their | | | | bill for all the glass damaged during a break and |
| company was able to negotiate lower television | | | | enter.This particular experience really drove home, |
| advert placements, than what I could dealing | | | | how a good insurance broker, whilst upfront might |
| directly with the station.Your marketing and | | | | cost you more, in the future will save you |
| advertising expert should have some experience | | | | more.Just like any employee when you are putting |
| in your industry and be able to show real statistics | | | | together your Small Business Mastermind |
| of adverts and marketing campaigns that actually | | | | Advisers you need to interview each adviser and |
| achieved results. More so, they should also have a | | | | ensure that you are able to work with them. |
| mantra of test and measure to ensure that your | | | | Further to this, to get the best advice from your |
| campaigns are giving you value for money and | | | | Small Business Mastermind Advisers you must be |
| more so, are making you a profit.Adviser 4: | | | | 100% honest and open with them, even when |
| BookkeeperSome accountants have their own | | | | things are looking dire. If you are not totally |
| bookkeepers, but I have found that quite often | | | | honest, then they cannot give you the advice |
| they are more expensive than bookkeepers not | | | | that will help you get out of trouble.Would you like |
| tied into an accountant. Further to this you should | | | | to learn more on developing your own Small |
| always check to make sure the bookkeeper is | | | | Business Mastermind Adviser Group or how to |
| certified. In some countries, including Australia, | | | | implement the Thirteen Secret Steps all |
| bookkeepers can be certified through the National | | | | millionaires know in the path to becoming an |
| Bookkeepers association or the CPA.Your | | | | obscenely wealth and successful person. Then find |
| bookkeeper must be prepared to work with your | | | | out how with a copy of our Think and Grow Rich |
| accountant and if they have questions you must | | | | book by Napoleon Hill and our audio package. |
| give them permission to speak with your | | | | Check out our Meditation Music to help you |
| accountant and more so, you need to make sure | | | | master this important program. |