Using professionals in your business: You get what you pay for


When anyone starts a business, one of the main concerns is cost control. Even with the smallest of businesses, your cash is valuable and you want to spend it carefully. But there are certain things which you shouldn't do without, and that's the help of qualified professionals.

I've often heard of new small business owners who have found an attorney or accountant who will help them "for free" or who is willing to barter for services. I'm a believer that you get what you pay for. If you are paying nothing for your legal advice, there's probably little real value that you're receiving from the lawyer.

Let's face it, the good accountants and attorneys get paid for their work because they're worth it. Those who aren't getting paid probably aren't giving advice that's worth much. In the areas of law and taxes, you shouldn't skimp and try to save a buck. It's not worth it in the long run. Find a good professional and pay for their services. It's worth the money!

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.