Entrepreneur Magazine columnists Courtney Spritzer and Stephanie Abrams list Hiring a Good Lawyer as one of the four things a start up business owner should do that may not be in the business plan. Another professional they suggest engaging is a knowledgeable accountant. And I could not agree more. In fact, I get worried when a client tells me they are not working with an accountant.

Two other professionals I strongly suggest seeking out:

  1. A business insurance professional. Notice I said “business” insurance professional. All insurance agents are not created equal and over the years I have seen clients that have serious gaps in coverage for their business. It is absolutely critical to work with an agent who is willing to learn the details of your business and what risks you face.
  2. A banker. A solid relationship with a banker is invaluable. Many business owners will bank with the most convenient bank or perhaps their personal bank and never seek to establish a relationship with a banker. This is a mistake. The time to establish a relationship with a banker is from the outset rather than waiting until you need a loan. And if you need a loan to get your business going, talk with your lawyer and accountant to get recommendations for a business friendly banker. All bankers are not created equal either.

I must admit I love it when I see articles from business publications discussing the need for a business lawyer. Just like the other professionals I mentioned it is important to establish a relationship with a business lawyer from the outset to get your business on the right track.