In “How to Offer a Service without Giving up Your Time”, I explained the importance of avoiding a situation where you are stuck wearing many hats. This is common among d.e.m. (do everything myself) business individuals, and is fine as long as you value the time you invest in your business. For the majority of us entrepreneurs, who like to enjoy life on our own terms, we want to retain as much of our free time as possible. This is a job for the players that make up an entrepreneur’s entourage and personal power team (p.p.t). Consider them a band of heroes, each equipped with their own skills/power, that save your time. An intelligent entrepreneur may bust their ass bootstrapping their business during its early start-up phase, but as business grows, the entrepreneur’s team must also grow. It’s like a plant that out grows the pot it was planted in, when it was just a seed. The entourage or the p.p.t. is a natural byproduct of a successful business and/or an intelligent entrepreneur scaling to a new level. All the players of this power team have their purpose, and there will be a time and place in which you will utilize each, and prosper together.
Mentor
A mentor is essentially someone who will ride shotgun with you on your journey, or a network of counsellors, coaches, or close acquaintances that have “…been there done that”, and are available to share their wisdom on xyz topic. This is the first individual(s) you should be seeking out before undergoing any new developments in your entrepreneurial endeavors. I am available for consultation for various reasons here, and do not be afraid to email me, even if you are unsure about how I can help you. I have been consulting successful entrepreneurs for the past two years strong, have spent thousands of my hard earned dollars for my education, and have been applying that knowledge to gain my wisdom in the field of entrepreneurship, real estate, stock market, and business. You can contact me absolutely free of charge, and I will reply. My mission is to educate or aide you, I’m not trying to create a sale with every email I respond to, so never hesitate!
CPA
The certified public accountant is a power player that should be scaled in once you reach an amount of expendable cash flow to hire one (at least for tax season). Accounting by large, is a self-regulated task, but a skilled CPA will understand tax strategy and will keep your books up to snuff, on a professional level. This is especially important once you have reached six figure cash flow and/or multiple streams of income.
Lawyer
The best time to draft this player to your team is when you are ready to separate your business from your persona. For example, when you are taking a micro business to a SMB level, when you are acquiring new real estate assets, or starting an investment group. You can give the lawyer power of attorney, and they may act on your behalf to handle business matters that may have otherwise required your immediate attention (no more interruptions while your “out to sea”). Utilizing the skills of an attorney and the CPA together, boardroom style could prove quite comforting in securing the corporate empire. You can research corporate entities and legal/tax structure.
Assistant(s)
Assistants can be in person and/or virtual (online relationship only). These players are an integral part of becoming a full-time entrepreneur. They come in all different “shapes” and “sizes” so to speak; from interns to CEOs, and various functions including:
· Marketing/Advertising
· Promoting
· Clerical
· Agency
· Communications
These players are discretionary and are appropriated based on each individual entrepreneur’s style, as the priorities of each are different. An entrepreneur focused on Real Estate may get more use out of agency, rather than one focused on paper investing. Think of these team players as the delegates of your entrepreneurial operations.
A mentor is essentially someone who will ride shotgun with you on your journey, or a network of counsellors, coaches, or close acquaintances that have “…been there done that”, and are available to share their wisdom on xyz topic. This is the first individual(s) you should be seeking out before undergoing any new developments in your entrepreneurial endeavors. I am available for consultation for various reasons here, and do not be afraid to email me, even if you are unsure about how I can help you. I have been consulting successful entrepreneurs for the past two years strong, have spent thousands of my hard earned dollars for my education, and have been applying that knowledge to gain my wisdom in the field of entrepreneurship, real estate, stock market, and business. You can contact me absolutely free of charge, and I will reply. My mission is to educate or aide you, I’m not trying to create a sale with every email I respond to, so never hesitate!
CPA
The certified public accountant is a power player that should be scaled in once you reach an amount of expendable cash flow to hire one (at least for tax season). Accounting by large, is a self-regulated task, but a skilled CPA will understand tax strategy and will keep your books up to snuff, on a professional level. This is especially important once you have reached six figure cash flow and/or multiple streams of income.
Lawyer
The best time to draft this player to your team is when you are ready to separate your business from your persona. For example, when you are taking a micro business to a SMB level, when you are acquiring new real estate assets, or starting an investment group. You can give the lawyer power of attorney, and they may act on your behalf to handle business matters that may have otherwise required your immediate attention (no more interruptions while your “out to sea”). Utilizing the skills of an attorney and the CPA together, boardroom style could prove quite comforting in securing the corporate empire. You can research corporate entities and legal/tax structure.
Assistant(s)
Assistants can be in person and/or virtual (online relationship only). These players are an integral part of becoming a full-time entrepreneur. They come in all different “shapes” and “sizes” so to speak; from interns to CEOs, and various functions including:
· Marketing/Advertising
· Promoting
· Clerical
· Agency
· Communications
These players are discretionary and are appropriated based on each individual entrepreneur’s style, as the priorities of each are different. An entrepreneur focused on Real Estate may get more use out of agency, rather than one focused on paper investing. Think of these team players as the delegates of your entrepreneurial operations.
