The learning curve is steep and the time element is crucial. Even with existing business owners, the astute and successful operators all understand that learning about the business and the industry is an ongoing and ever-changing task. Even major international firms maintain a retinue of consultants and advisors, including advisory boards and directors to help them in areas where they may lack specific expertise. This is especially true for small business owners that usually lack the resources to enable them to seek paid professionals for their guidance and direction. The obvious reward to the business owner is the assistance of individuals with expertise and skills with no cost or expense involved.
Nothing can be better than getting expert help at no cost to the owner.
Establishing a strong relationship with a bank officer is always an excellent start. Bankers are prone to assisting people in their businesses and are usually very knowledgeable not only about their customer's business, but many businesses in general. They may not always understand the element of risk-taking, but they do understand business and how it relates to and interacts with lending institutions. First-time owners should turn to their bankers and establish contacts that can easily endure for many years. An informed banker can be an understanding and helpful advisor.