Congratulations; you are about to launch your dream and a brand that represents your mission, goals and values. With the digital age and communication advancing so quickly, information is shared faster than ever, and a communication method has never been easier. This can be both good, and bad (only bad if you aren’t prepared) for your business. It is advantageous in the sense that you can reach more people, but this means more people have access to reaching you and some don’t always have noble intentions. Here are three tips any startup should embrace in order to set a path for healthy growth.
- Hire a Business Attorney
One of the biggest mistakes a startup can make is hiring a lawyer after they have been sued. You have legal needs to protect your brand and sustainability; hiring a business attorney can put you in a position where your ship can be steered clear from potential defamation or legal problems. For example, if you plan on hiring specialized experts from another country you will need a business attorney who understands immigration visas specific for employment and how to avoid costly pitfalls that often come when not properly handled. Business attorneys will also help you create your proposals, contracts, and stay up to date on legalities that may require ongoing revisions to protect your company. Having a business lawyer will also help you know how to work with clients in industries with strict rules and regulations, like pharmaceuticals, addiction treatment and medical.
If you plan on staying in business for a long time, chances are fair someone might sue you; it's the world we live in. Having a lawyer who already knows your business inside and out will have a better chance of putting out any small fire before it turns into a complex inferno. Do a little online research, find some business attorneys near you, interview them, and find one that is knowledgeable, respected, and easy to communicate with.
- Get an Accountant
If you are starting a new business, you are going to be extremely busy trying to grow your business, so having an accountant will free up much of your time. According to a 2015 Sage Survey, more than 82% of successful entrepreneurs hired accountants within the first year of their business. Keeping track of vendor expenses, payroll, ROI data and a number of other responsibilities can really sink its fangs into your time and bleed you dry in areas that need your attention as the CEO.
- Hire a Digital Marketing Agency
You may think you have a good understanding of your market, customers, and products, but according to a 2016 Quora Survey 71% of businesses interviews expressed that bringing on a marketing firm helped them better understand their place in their industry, and they saw growth with a return. Digital marketing agencies do a number of things from web development to SEO (search engine optimization), as well as paid search and social media marketing. Not all businesses need every single one of these services; look for a digital agency that focuses on growth with trackable revenue increases that uses only the marketing channels right for your business. In other words, avoid agencies that have packages and instead seek out a marketing firm that offers customized marketing strategies for each client.
This guest post is courtesy of Michael Zhou.