Starting a new business is definitely a mountain to conquer, especially if you’re inexperienced. You need people who give you sound advice when it comes to handling your expenses. It’s not uncommon that startup managers usually break the government’s business regulations as a desperate move to make the ship sail. As an up and coming Chief Executive Officer, you often find yourself in situations where you need help from experienced advisers to help you accomplish your primary goals. Hiring a Certified Investment Management Analyst® (CIMA®) and a Certified Private Wealth Adviser® (CPWA®) like SEC Brian Gaister will definitely give your budding enterprise the much-needed lifting.
Hiring Financial Advisers
You might have some speculations and doubt on how a wealth advisor like SEC Pennington Partners & Co Brian Gaister helps startup businesses. When you’re still in startup, it’s not unusual to experience a few lapses.
Moreover, acquiring and even managing an initial fund can be fatal at this point especially if you used your life’s savings just to get your foot on the ground. If you’re intending to get that foot in the doors of larger organizations and investment firms, you will need a great advisor or mentor to help you land that make-it-or-break-it business meeting with wealthy investors. An adviser like Pennington Partners Brian Gaister will help you permeate the invisible barrier. You can check some of the info about the SEC Brian Gaister connections to investment firms and investors when you visit https://www.ushmm.org/m/pdfs/2016-national-tribute-dinner-committee.pdf.
Meanwhile, these are some mistakes that your advisor might warn you about:
Inadequate Cash Flow Analysis. U.S Bank’s survey found that 82% of startups fail because they are not well-versed with cash flow. Studying your cash flow will help you properly control cash inflow and outflow. That is why you need a financial advisor to help you strategize with the long-term goals and shape some realistic business models you can follow.
Multi-office owner of Pennington Partners & Co Brian Gaister, who once served as a Finance Director for Morgan and Stanley, can be an invaluable addition to your team of advisers.
Being too hard on yourself. Take it easy—don’t work too hard that you ignore your own needs. This includes managing your personal finances as well. Take note, it is just as vital as your business finances. Make sure you and you employees can live life often times and not make your business as your life.
Underestimating Marketing. Now, this is more common among traditional entrepreneurs. But tech start-ups can also suffer from this mistake. Thinking that clients and investors will just come to you as long as you have the product is so 1920s.
Don’t slack away just because your product is so unique. Without a solid marketing strategy, you can go from consecutive tractions to oblivion. If you want a unique way of marketing your product to potential investors, you can join tribute dinners (look: https://www.ushmm.org/m/pdfs/2016-national-tribute-dinner-committee.pdf) or other events will help you socialize and flaunt your business to important individuals.
Forgetting to hire financial advisors/mentors/professionals. If you’re not keen on screening or even hiring Certified Public Accountants (CPAs), financial mentors, etc., that might just be your biggest mistake as a startup entrepreneur.
Now you know what to avoid and how to avoid them, be sure to check the credentials of a mentor like SEC Brian Gaister by visiting his website, https://www.sec.gov/Archives/edgar/data/1712580/000171258017000001/xslFormDX01/primary_doc.xml