Every great
business begins with a winning idea. A good entrepreneur is one person with such
an idea and the skill and will to make a success of it. However, there are
several steps between conception and success. Rarely will one individual have all
that is required to see that great business concept through. It will more
likely take a team, each member with a distinct skill, set to achieve success.
This well-known
fact so often only gets verbal affirmation from entrepreneurs. So many owner
operated businesses stay stunted not for a lack of capital or a sound business
idea but from the inability to assemble a great team. At the bottom of this
attitude is a fear of letting go. The owner fears losing control and so the
potential of the business is limited to what its founder can do - pretty much
by himself.
Stagnation is the
best results obtainable in such a scenario. This result is unacceptable because
if the business is not growing, it is dying. Businesses must move with the
times and seasons of their industries if they are to remain competitive.
Vesting a measure of control in verified professionals is not a choice but a necessity.
Since this is the
case, the owner must investigate the modalities of choosing business partners,
peers and contemporaries with an eye on the success of their original business
idea. A finance professional is indispensable to a good business team. Business
owners with scant financial background that do their own accounts miss out on
the expertise a trained professional provides.
The question few
know to ask: Do I need an accountant or a bookkeeper? This is the question I
will be discussing in my next post.
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