I had the privilege of participating in a discussion concerning “Financial Wellness” on WAKM – 950 AM radio last week. As we preparing for the beginning of the show, and the participants were getting to know one another before the show began; passing out business cards, etc. I was reminded of three recent articles by Dr. Jeff Cornwall of Belmont University (please see- A Good Business Attorney is a Key Resource for Start-ups, Second Leg of Entrepreneur’s Stool, Third Leg of the Stool ) as I discussed small businesses with my fellow participants including a banker and a CPA. To summarize Dr. Cornwall’s articles, he discusses the importance of including in the development of your small business plan the reliance and counsel of three important figures- your attorney, your certified public accountant, and your business banker. His analogy is that the success of your business relies on the three legs of a stool, and consequently they all rely upon one another in order to stand upright.
I would encourage you to read Dr. Cornwall’s Articles and to visit with your support- your attorney, accountant, and banker – sooner than later.