The process of starting your own business can be one that is both rewarding and overwhelming — and maybe a bit lonely. Luckily, you don’t have to navigate the process by yourself. Reach out to business experts and professionals to help get you started and guide you in your success.
Accountant
Whether you’re a sole proprietor or a corporation, it’s important to have an accountant. “Working with an accountant to properly set up your books is a really strategic way to better understand your financials right from the beginning and then, when it’s tax time, you won't be in a panic trying to figure out your taxes on your own,” says AWE’s Business Advisor Jenifer Horvath.
If you want to be a successful business owner, you should know where you’re at financially, and that means (ideally) checking in on a daily basis. Online options like QuickBooks or Wave make this easy; be sure to ask your accountant to help set you up with something that is convenient for you to use.
Lawyer
A lawyer is especially important for those looking to incorporate their business or enter into a partnership agreement. A lawyer can help with the fundamentals, such as structuring shares, negotiating/writing contracts, and the protection of your intellectual property.
Here are two affordable ways to access legal advice in Alberta:
BusinessLink’s Ask A Lawyer program. Sign up for a 30-minute phone call for a $29 fee to receive legal advice and ask questions.
To find a lawyer who best suits your needs, you can access the Lawyer Referral program provided by the Law Society of Alberta. Connect with up to three lawyers to discover the best fit for your legal needs. The first half hour is unbilled to discuss your legal issue, evaluate potential costs, and determine if that particular lawyer is a good fit for you.
Insurance Agent
“A lot of people miss this step,” says Jenifer. Ensuring that you have the proper insurance in place for your business is crucial, even if you are practicing as a consultant. A business insurance expert will assess your needs and find a business liability insurance policy that suits your company.
Trusted Advisor
This is someone with experience who might have some insights to offer you. AWE offers free advising services to women entrepreneurs in Alberta. An AWE Business Advisor can help you talk through your business strategy, your delivery model, and how to manage cash flow. They can also delve into marketing, talk about mindset management, connect you with other resources, and more.
Business Link also provides advising services with free one-on-one advice with one of their trusted advisors.
Business Coach
Starting a business can be stressful and having a coach to help you can be really beneficial. “A true coach doesn't provide you advice. They ask questions for you to get clear on what you need to do. The coach is on your side,” says Jenifer. A business coach can help take your business from where it is now to where you want it to be. They help you realize your vision.
Peers
Friends and family are great resources to lean on but sometimes they aren't the best people to turn to talk to about your business. “What I hear a lot from people is that their friends who don't run businesses don't get it,” says Jenifer. Instead, she recommends finding at least one individual who you can talk business with — someone who is maybe at a similar stage. Consider finding a mastermind group or if you prefer online, there are many options to be found.
Ask for Help
Whether you are looking to start a business or have already begun the process, the key is to find people and resources to support you. “Women who start businesses are often independent, we have a vision, a goal, we're self-driven, we often forget to ask for help,” says Jenifer. If you can reach out to people who can help you and give you ideas, you’ll be set up to create a stronger business from the beginning.
