Starting lineup and bench advisors for your new LLC

Congratulations on making it to the seventh and last part of the series. As you have probably realized, this entrepreneurial journey cannot be done alone. I know this because the men and women who haven’t properly sought out a good starting lineup or bench players (advisors) are either no longer entrepreneurs or slaves to their ideas. The starting lineup involves those who affect the day to day objectives to keep your business running. The bench players are people moving freely and can be picked up and dropped as needed without any hard feelings.

Starting line up advisors for your new LLC

(Photo by Andrew D. Bernstein/NBAE via Getty Images)

Your starting lineup greatly impacts the success of your business. This could be the following professionals listed below:

  • Attorney
  • Accountant
  • Banker

You can choose anybody that you like to be part of your starting lineup but you want to make sure that these people will have a very clear role in where your business goes in the future.

[bctt tweet=”Your starting lineup greatly impacts the success of your business.” username=”Magnitax”]

Bench Advisors for your new LLC

Bench advisors are individuals who you don’t need them at the moment but have value. These could be specialty service providers such as a: graphic designer, a Public Relations professional, or an Event Planner. After assembling your bench advisors, you probably want to know how to evaluate the value of an advisor. When looking for an accountant, attorney, graphic designer or an event planner, keep these things as a must:

  • Awesome referrals from past clients
  • Their education (Licensed Attorney, CPA and etc.)
  • Their fees based on your project

With this information, you will be able to get a great idea of what they can do based on your company’s financial position. Having a budget ensures you do not stress over the amount of money that you’re making and focus on the value your advisors will provide.

My take on hiring attorney’s for your new LLC

A great attorney will separate you from the pack when starting your company. The types of attorney’s to keep in mind as your business grows are:

  • Intellectual Property Attorney (Trademarks and etc.)
  • Securities Attorney (Stock offerings and etc.)
  • Estate Planning Attorney (Selling family business and etc.)
  • Business Attorney (Contracts and etc.)

There are just a few of the attorneys that will help with everything from company formation to acquiring your competitors in the future.

Congratulations on finishing What can you do form your LLC without expensive attorney fees series

The series created by Jean-Désir Fils was structured as seven separate blog posts. Each post broke down the steps needed to form your LLC without expensive attorney fees. This series will not go into details for your individual state. The series includes a downloadable checklist that will ensure you remain on track to succeed no matter your level of business know how. Check out the series in its entirety or go back over sections that plagued you:

Downloadable LLC Formation Checklist

LLC Formation Checklist (Download here)

First Part

What company name to choose for your new LLC?

Second Part

What tax-related tasks do I need to complete with the IRS for my new LLC?

Third Part

What organizational tasks do you complete for your new LLC?

Fourth Part

What are some tips to make a "Doing Business As" (DBA) for my new LLC?

Fifth Part

What are some of the licenses needed for my new LLC?

Sixth Part

What are some of the smartest ways to fund my new LLC?

Seventh Part

What to look for when hiring the best advisor team for your new LLC?
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