Running A Business: Teamwork

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Serious entrepreneurs know that they need individuals with specialized skills and abilities to assist them in their business success.

You must remember you “don’t - know it-all” and you “can’t-do-it-all.” Utilizing the services of fellow professionals is important. Fortunately, there are many qualified Blacks who can be in your pool of selection in bringing on board talented advisors. Large corporations have a legal department, an accounting staff, an intensive banking relationship, and individuals who grow or invest the company’s profits. Small or new Black businesses can retain the services of needed professional advisors.
To find out who they are, their costs, their abilities and timeliness, ask fellow business owners to make recommendation. There exist directories of Black or minority professionals in different fields. Read and study these guides. It is important to interview potential candidates as future advisors for your company. Find out their talent, professional style, costs and track record. 

All business owners should have a general understanding of basic legal concepts, accounting procedures, banking matters and financial planning considerations. Do not avoid this. Knowledge and insight are the inner workings of your business operations. Being the business founder, president or CEO does not mean you can neglect the need for a thorough understanding of your total company operations. 

Your support team should share your business goals and objectives. But you as the business owner must be flexible when you are receiving suggestions or even criticisms. Initially new business owners, especially sole proprietorship have the tendency “to-do-it-all” when they run their infant companies. Oftentimes they do not have the capital to utilize outside professionals.

There are organizations such as the S.B.A. (Small Business Administration), S.C.O.R.E. (Service Corps of Retired Executives) and Small Business Development Centers at numerous colleges. These organizations offer free business advice and consultants to new as well as established businesses. Go online and use the Internet for business research.
Read and study trade publications in your selected industry. Join (at a cost) trade associations in your industry. Attend free or low cost business workshops and seminars. Get free information from the library or subscribe to business magazines such as “Black Enterprise,” “NV,” “Business Week,” “Network Journal,” “Entrepreneur,” etc.

Mr. Perry is a noted and respected business consultant and professional public speaker. He can be reached at

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