No Entrepreneur Is A Know-It-All


Starting your own business allows you complete freedom to be your own boss. But this isn’t a reason to stop listening to others altogether. The most successful entrepreneurs still rely on the guidance of others. This is because business encompasses a great number of skills from accounting to marketing to understanding business laws. The best advice usually isn’t free, so be prepared to pay some money. Here are four reasons to invest in advice. 

Getting Your Head Around Taxes 

Tax laws are always changing. As an entrepreneur, you will have to do your own tax assessment every year. Having a financial advisor on call can be handy for helping to keep accurate bookkeeping records as well as knowing when and where to claim money on expenses. Laws can get even more confusing once you start trading internationally. Companies such as Frank Hirth could be useful for getting advice on overseas tax laws. Aside from taxes, financial advice may also be useful for dealing with investments, shopping for loans, deciding a business structure and understanding currency exchanges. 

Translating Legalese 

You’ll come across a lot of complex legal terminology (often nicknamed ‘legalese’) when running a business. In these situations, it can often be worth getting advice from a solicitor. Solicitors can also help you to gain a better understanding of various business laws to ensure you’re running your company above board. On top of this, they can help to write contracts to protect against lawsuits, defend you if someone does try to take legal action, or help you take legal action against someone else. Unless you’re a solicitor yourself, it’s unlikely you’ll have the knowledge to deal with these situations effectively on your own. Most solicitors can be hired on a need-to-know basis and can be valuable to have on your side. 

Keeping Up With Digital Trends 

Digital technology is rocketing ahead. Most businesses are now computer-heavy and it can be worth outsourcing IT support to make sure your business isn’t trailing behind. IT support companies such as Wavex can advise you on digital security measures to take, as well as software and apps that could help speed up business and even cut costs. They may even be able to monitor your business’s server and be on hand to help fix any bugs or react quickly to a hack. Outsourcing a company will be far cheaper than hiring an IT technician, whist giving you the same instant communication. 

Making Sense Of Modern Marketing 

The world of marketing has evolved in leaps and bounds with the advent of digital technology. A marketing strategy may have once involved newspaper ads, phonebook ads and telesales. Now companies are focusing on ways to build web presence such as creating internet ads, using social media and getting top search engine rankings. There are marketing consultancy agencies out there that can guide you on the best approach to take in order to attract new clients online. Consultancy may be cheaper than paying a company to do the work for you, although jobs such as web design and SEO and ad design may still be better suited in the hands of a professional.





I hope you enjoyed this article about how to learn and grow as an entrepreneur through constant self-improvement.

Interested in more articles about frugal entrepreneurship?

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Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business

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