What the BIG Companies Do -That you're MISSING

the following people are critical to the health of your company you're going to need to develop a relationship with a banker an accountant a lawyer and an insurance agent and it's not just hiring them to provide services for your company you need to establish a relationship because at some point in the life of your business you're going to need special services from these people beyond what they normally provide I'm going to explain how important this is how critical it is to the health of your company and hopefully you can start to implement this in your business making the connection with the right team of accountants attorneys lawyers and insurance agents is a little bit like assembling a pinewood derby car I'm uh I'm not going to tell my seven-year-old son to go out grab the jigsaw and the power tools and go ahead and carve out a baseball bat shape and a pinewood derby car and I am like a seven-year-old when it comes to the legal matters of my company I'm not going to take charge of that going to find someone that knows what they're doing I'm going to divvy up the responsibilities but I'm going to establish a relationship with these people so when they come to work for me they know my company Beyond just what I've told them and just beyond the normal scope of work there's a way to do that it's reaching out and networking it's going to be an events Chamber of Commerce events getting to know the local people in the area and then taking it a Step Beyond asking them if they're interested in at all maybe going out to lunch or something like that that's a critical element three out of the four people of my team I've met through networking and I've had them perform special favors for me since that time within the last year and a good example was December 14th my accountant let's say it's the baseball bat says to me Stan and this is a true story you need to spend $100,000 really quick so what do I do I call up my banker The Angry Bird's car and said can I borrow $100,000 cuz I just don't have that kind of cash lying around on December 15th the next day my banker The Angry Birds car calls me back and says I have your $100,000 ready and would you like to go out to lunch that's the power of a special relationship now I have to go out and buy a whole bunch of equipment and I can't even take it home without insurance my McDonald's car and so I call up my insurance agent and over the phone she gets the she gets the information she needs not through me she calls the people I buy the equipment from and handles the whole thing so I know and I'm going down the road I'm safe and secure now in this case I didn't even have to call my attorney because the other three members that's the volcano car had taken care of everything for me that's the power of relationships but let me tell you something about my volcano car attorney Joe Phelps friend of mine met him a year ago now many people really wouldn't think about developing a relationship with an accountant an attorney an insurance agent and a banker those are the people that are critical as your business grows you're going to need them to do perform special favors for you at times you don't know what those are right now but when the time comes you're going to be very thankful that you know who you have to go to and they know you as as well you want to create that Network that allows them to have your back and allows you to be able to rely on them if you're just going to the standard chain Banks or the standard chain insurance agencies and you walk in and they don't know you you need to change you need to go somewhere where everybody knows your name like the old cheers song this is a critical thing your business is important to you don't hire the cheapest person just because of price make sure you understand the importance of getting the right people on your team in those four critical areas because you hopefully won't always need them but when you do you want to know that they've got your back I hope this helps have yourself a good [Music] day