Sometimes it is not enough to have business advisors, you also need to know the right questions to ask and there is the dilemma you might not know enough about a certain area of business to even know what to ask or that you need help in that area and there are so many different experts and advisors that it can become a round of too much information and very little making an impression.
You can have legal, accounting, business, bankers, financial brokers and insurance advisors all trying their very best to make sure that the area they specialise in is covered in your business plan, if you have one. Sometimes a business or venture comes about purely by chance, you know how to make something and it just so happens that a lot of people like the product and all of a sudden you find yourself on the end of an order that you are never going to be able to fulfil and this is when you realise you have become a business venture along the way somewhere and you didn’t even notice and there have been all sorts of things that you should have been doing but just didn’t have the time to look into.
This is where an adviser can come in handy, they will prioritise your business responsibilities and give them to your straight, no beating around the bush, just letting you know what you need to do to make your business a legal money making concern and what other matters you need to look into or get advice on. You definitely need to get the accounting under control and there is probably some kind of insurance you need to be taking out in case of accident or faulty goods, so that you are covered against being sued.
If you have staff then you need to take care of their superannuation, their wages and how much tax you are taking out of their pay, what safety precautions you need to take on the work floor or when making the product.
Ultimately you might need to talk to a bank about securing some finance for the business and the bank will have an advisor to explain to you all the different options there are and which one would probably be best for you and your situation. It doesn’t take long to be overwhelmed with all sorts of new information and legal requirements that until now have been a distant mirage off in the distance somehow, now however it is all coming to slap you in the face and instead of making something you are stuck behind a desk doing all the paperwork and generally not having a good idea, this is when you need to hire a secretary or business advisor who will do all the writing for you and you can get back to making and creating.