Build a Team of Professionals

Martha Kern

Sourcing professional services will help you focus on what you do best

As a business owner, you probably handle most of the responsibility of running the business yourself. But, what if you could utilize a team of professionals to consult and guide the management of your company? What if this team could understand your situations and needs on an ongoing basis?

No matter what type of business you own or how successful you are, everyone can benefit from the guidance and knowledge of these four key business specialists, many of whom are independent business operators just like you.

Attorney: You may want to hire an attorney who specializes in the needs of business owners and can consult with you on asset ownership, best-choice business form, succession planning, contract review, and employee-employer relationships. It’s crucial to establish a relationship with your attorney, so that you can pick up the phone when   you have a question.

Accountant: Again, you may prefer someone who understands the needs of independent business people and, if possible, also knows your industry. An accountant should help you “read” your books more effectively, translate raw data, plot areas of profit and loss, and show you how to manage your tax liability. In short, your CPA could save you money. Don’t make the mistake of meeting only once a year at tax time: give your accountant the opportunity to work with you all year long.

Financial institution officer: Credit is the lifeblood of many businesses. It’s always important to maintain contact with a person who can help you access the cash flow you need when you need it, and at a favorable rate. In addition to issuing credit, many financial institutions frequently provide a wealth of other services at minimal or no charge. Regular contact with your financial institution officer will keep you abreast of new opportunities that can benefit your business.

Insurance professional: An insurance agent familiar with the challenges facing independent business owners can act as an effective problem solver. Specifically, a trained, licensed insurance professional can play several crucial roles in your business:

  • Help your company meet its immediate insurance protection needs. This includes helping select and fund insurance for key executive coverage, death and disability* buy-out, pension, and other qualified plans.
  • Help meet your personal insurance and financial product needs.

Family decisions can be a key factor in making any business decisions. Your insurance agent can help you coordinate a cohesive insurance program that satisfies your needs and goals on personal and professional levels.

  • Help coordinate the work of other professionals.

Insurance agents will help you focus on the big picture and work to help you put together a team of professionals.


This educational, third-party article is provided as a courtesy by Martha S. Kern, CFP, ChFC, Agent, New York Life Insurance Company. To learn more about the information or topics discussed, please contact Martha Kern at 352-505-4967 or [email protected]

*Disability insurance is available through one or more carriers not affiliated with New York Life, dependent on carrier authorization and product availability in your state or locality.

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