tments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't

More and more people are realizing that they can't rely on big business or government to secure their financial future. They choose instead to take personal responsibility for their future by purchasing or setting up a small or homebased business. They bring their passion and their personal area of expertise to the venture. Regrettably, many try to 'go it alone' with disastrous results.

There is one thing that is common to virtually all 'Big' business. In fact, I will suggest that it is critical to getting 'big', plus it's even critical to a venture's very survival, especially longterm. 'Big' Business employs experts. The President and the Chairman of the Board have the good sense and the humility to realize that they don't know everything. The small business or home business person must understand that as well.

While you may not have the assets to hire the 'expertise power' of the largest corporations, you can do more than you might realize. You do not need to have these experts all on staff to obtain the expertise they possess. You do, however, need access to the expertise at your finger tips. The following are the areas that I am referring to. Regardless of the size of your business, you will need the following expertise if you plan to survive and prosper in the business community.

Legal Expertise: Every business needs access to solid legal advice. For instance, if you plan a partnership, even within a family business, it makes good sense to have a partnership agreement. We live in a litigious society. Make sure you establish a relationship with a legal expert before venturing into any business.

Accounting Expertise: It's amazing how many folks, especially in homebased businesses, do not have an accountant or fail to keep proper records. You are courting disaster if you try to operate outside the tax laws for your jurisdiction. You also will never know where you stand financially with your business without proper bookkeeping.

Insurance/Risk Management Expertise: This too is an area of neglect for many small entrepreneurs. If something happens to the key people in the company, what happens to the company itself. A professional insurance broker that specializes in small business can point out the pitfalls and steer you clear.

Banking/Credit/Investments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't

longterm. 'Big' Business employs experts. The President and the Chairman of the Board have the good sense and the humility to realize that they don't know everything. The small business or home business person must understand that as well.

While you may not have the assets to hire the 'expertise power' of the largest corporations, you can do more than you might realize. You do not need to have these experts all on staff to obtain the expertise they possess. You do, however, need access to the expertise at your finger tips. The following are the areas that I am referring to. Regardless of the size of your business, you will need the following expertise if you plan to survive and prosper in the business community.

Legal Expertise: Every business needs access to solid legal advice. For instance, if you plan a partnership, even within a family business, it makes good sense to have a partnership agreement. We live in a litigious society. Make sure you establish a relationship with a legal expert before venturing into any business.

Accounting Expertise: It's amazing how many folks, especially in homebased businesses, do not have an accountant or fail to keep proper records. You are courting disaster if you try to operate outside the tax laws for your jurisdiction. You also will never know where you stand financially with your business without proper bookkeeping.

Insurance/Risk Management Expertise: This too is an area of neglect for many small entrepreneurs. If something happens to the key people in the company, what happens to the company itself. A professional insurance broker that specializes in small business can point out the pitfalls and steer you clear.

Banking/Credit/Investments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't

ng to. Regardless of the size of your business, you will need the following expertise if you plan to survive and prosper in the business community.

Legal Expertise: Every business needs access to solid legal advice. For instance, if you plan a partnership, even within a family business, it makes good sense to have a partnership agreement. We live in a litigious society. Make sure you establish a relationship with a legal expert before venturing into any business.

Accounting Expertise: It's amazing how many folks, especially in homebased businesses, do not have an accountant or fail to keep proper records. You are courting disaster if you try to operate outside the tax laws for your jurisdiction. You also will never know where you stand financially with your business without proper bookkeeping.

Insurance/Risk Management Expertise: This too is an area of neglect for many small entrepreneurs. If something happens to the key people in the company, what happens to the company itself. A professional insurance broker that specializes in small business can point out the pitfalls and steer you clear.

Banking/Credit/Investments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't

t have an accountant or fail to keep proper records. You are courting disaster if you try to operate outside the tax laws for your jurisdiction. You also will never know where you stand financially with your business without proper bookkeeping.

Insurance/Risk Management Expertise: This too is an area of neglect for many small entrepreneurs. If something happens to the key people in the company, what happens to the company itself. A professional insurance broker that specializes in small business can point out the pitfalls and steer you clear.

Banking/Credit/Investments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't

tments Expertise: Establish a good working relationship with your friendly banker. It makes no sense to try to establish a relationship if you find yourself in a crisis situation. By then it will most likely be too late.

Business Planning Expertise: If you are going to invest your money and your passion in a venture you will be wise to have a well laid out business plan. You will almost certainly require one if you need outside financing. You should have one even if you are putting up all the money yourself. You absolutely need to know that your plan is viable, don't you? There are government agencies as well as community groups that can help you create a good business plan. Check them out.

Selling Expertise: Most businesses are involved in selling something at one level or another. After all, nothing happens until something is sold. Someone who is a great cake baker and wants to create a small cake business but has no idea how to sell anything or how to deal with the emotions when sales don't always happen may be doomed to failure. Someone who has a service to offer needs selling skills as well. Selling is a profession as are the others I've mentioned. Either get training for yourself or hire and train someone to sell for you. Trying to 'wing it' in this area of your business will cost you a fortune.

Marketing Expertise: Do not confuse marketing a business with selling your product or service. They are two entirely different areas. Marketing is taught in colleges while sales as a profession is not. Colleges can be an inexpensive source of marketing ideas. Some have offered programs where students will volunteer or work cheaply to gain experience.

Computer Expertise: In Business today, you can't afford to be computer illiterate. There are loads of affordable training courses available in most centers. Make sure that you have the basics as you get started. You can layer knowledge on as you go.

If you make the commitment to lay the foundation for your business carefully you can gather this expertise and never feel that you are 'in it alone'.