Are you asking your friends and acquaintances any of these questions?
* Should I set up my business as a S Corporation or a LLC?
* Do I need liability insurance?
* Should I make people sign a non-disclosure agreement if I share details about my product or business model?
* Should I set up my books on a cash or accrual basis?
Pamela Slim says she hears these a lot, and her advice is to ask a professional. She refers her readers to the “big four” professionals every entrepreneur needs to run an effective business:
1) A lawyer
2) An accountant
3) A banker
4) An insurance specialist
So the questions you should be asking your friends and acquaintances are: “Do you know a good lawyer?”; “Who’s a good accountant?”; “Who is your banker?”; “Where can I find a good insurance broker?”
If you don’t know people who can help you with answers to these, you need to get involved right away in business organizations in your area and make the acquaintance of other business people. They can be great resources for you in many ways.