Small business consulting gives you all the details and resources you need for a proper consultation when running your small business day to day activities.
The purpose of seeking outside help when building a business is to make your life and business easier. Lawyers, accountants, brokers, consultants all have your best interests at heart but at the end of the day they want to get paid for their small business consulting. Whoever you choose to work with, it is important to make sure you are getting value for money and the best deal available.
It is vital that any professional adviser you employ for your small business consulting regards you as being in charge. You set them guidelines and expect to be regularly informed of developments. Transparency and organisation are essential in order to avoid paying two people for the same job while failing to cover a crucial area.
Lawyers are very good partners to rely on during the whole process of business start up. It is worthwhile spending an hour with a lawyer early on in the sales process because they can alert you to key issues.
Choose your lawyer with extreme care and discuss the payment up-front. Perhaps you can get a recommendation from a friend or from your broker. Always remember that you are paying the bills so you have the right to be kept informed of all developments. And don't forget to send an associate to be present when lawyers are holding their meeting.
In your attitude towards the sale it is often helpful to make a clear demarcation between business decisions and legal decisions. As a result, you will keep control of the transaction and maintain a certain distance if the lawyer decides to go on the attack over a certain issue. Try to finalize a cost per hour before enlisting their service because lawyer's fee will probably be the highest and the least predictable.
When carring out your small business consulting, always remember your accountant. The accountant is a right choice for you. Some say avoid them wherever possible until the last minute, while others say establish a close relationship and involve them from the beginning. Whatever you decide, it is necessary that you choose an accountant you can trust.
Make sure your accountant reads a draft of the definitive agreement, before you commit to the small print. Their crucial role in the due diligence process means they can offer expert advice on the conditions of the sale. They will also help you to spot any anomalies in your paperwork which you can be sure the buyer's accountant will also find.
Try to agree on the accountant's fee for the total project, regardless of hours put in, so that the money you need to allocate is specified from the start. Enquire whether there will be additional costs later. If you find yourself in an argument over pay, your lawyer can advise you on whom to contact and how to go about it.
There are a variety of advice agencies providing solid small business consulting that can be consulted at any stage during a business sale. Research the agencies thoroughly and decide who covers your field.
You need to be careful because sometimes a broker may offer to be paid by the buyer, the broker will then act on behalf of the buyer and you may miss out on more lucrative offers. Small business consulting tends to cost by the hour, so agree a target number of hours for each stage of work as well as a system for keeping you up-to-date with the costs. You may also choose to specify a maximum fee that you are ready to pay.
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