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Why Every Entrepreneur Needs an Advisory Board — And How to Build Yours Now
- WO Team
- Apr 2
- 3 min read
Updated: Apr 4
By Holly Hartman
Starting a business is exciting—but it’s also filled with decisions, risks, and blind spots. The most successful entrepreneurs don’t do it alone. They build a trusted advisory board—a powerhouse team of professionals who help guide their decisions, protect their assets, and set the business up for sustainable growth.
At The WO Network, we believe in the power of collaboration and expert insight, which is why we’re thrilled to host our upcoming Business Lawyer Panel—a must-attend event for any woman entrepreneur serious about getting her legal and operational foundation right.
But first—let’s talk about the top 5 advisors every entrepreneur should have on their team from day one.
1. Business Attorney – Your Legal Lifeline
Your business lawyer is your protector. They help you:
Choose the right business structure (LLC, S-Corp, etc.)
Draft or review contracts, NDAs, and client agreements
Safeguard your intellectual property (trademarks, copyrights)
Navigate risk, compliance, and potential disputes
Pro Tip: Most startups skip this step—and pay for it later. That’s why we created the Business Lawyer Panel event, where top women in law will demystify what you really need to know (and avoid) when launching or scaling.
Wo Network Suggestion: Business Lawyers
2. Accountant or Tax Advisor – Your Money Strategist
Tax codes are complicated. A certified CPA or tax professional helps you:
File taxes correctly and on time
Understand your write-offs
Choose the right accounting method
Avoid IRS headaches
Plus, they can work alongside your bookkeeper to keep you financially organized and audit-ready.
Wo Network Suggestion: Accountant or Tax Advisor
3. Fractional CFO or Financial Advisor – Your Profit Partner
Even if you’re not ready for a full-time CFO, a fractional financial advisor can help you:
Forecast growth and manage cash flow
Set pricing strategies and understand profit margins
Make data-informed investment decisions
Prepare to attract investors or lenders
Wo Network Suggestion: Financial Advisor
4. Marketing & Brand Strategist – Your Visibility Guide
Your brand is more than a logo—it’s your first impression. A strategist can help you:
Define your unique brand voice
Identify your target audience
Create a visibility and content plan
Build authentic marketing that converts
This is especially important in today’s digital-first world, where connection drives conversion.
Wo Network Suggestion: Marketing & Branding Strategist
5. Business Coach or Mentor – Your Clarity Compass
Entrepreneurship is personal. A coach or mentor:
Helps you stay focused and clear on your vision
Offers accountability and support
Guides your leadership and decision-making
Provides a sounding board during pivots or challenges
They keep your mindset aligned with your mission.
Wo Network Suggestion: Business Coach & Consultant
Bonus: The Niche Expert You Didn’t Know You Needed
Depending on your industry or growth goals, consider adding:
HR Consultant – for hiring, compliance, and team culture Ann Brown
IT or Cybersecurity Specialist – if you’re digital or tech-based
Operations Consultant or Project Manager – to build systems and SOP: COO Sara Fracasso
Industry-Specific Expert – someone who knows your space intimately
Web Developer or UX Strategist – if your site is your storefront: Jenna Leadingham, Joanna Sherrow
Want to Meet Your First Advisory Member?
Join Our Business Lawyer Panel
Event Name: Legal Foundations for Women-Led Businesses
Host: The WO Network: Women Leaders of Louisville
Date: 4/10/25
Location: Gray I Ice I Higdon Law Office- St Matthews Area
Hear from a panel of powerhouse women in law as they break down:
Contracts every business owner needs
How to protect your brand and assets
Common legal mistakes (and how to avoid them)
Q&A with legal professionals who get entrepreneurship
This is more than just a panel—it’s your first step toward building a smarter, safer business. Makes sure to get your ticket today.
Ready to Lead with Confidence?
Whether you're just getting started or scaling your success, having the right advisors around you is non-negotiable. Don’t go it alone. Build your dream with a dream team.
RSVP to the Business Lawyer Panel today and meet the legal experts every founder needs.
Because at The WO Network, we rise stronger—together.
Stayed to next Blog coming soon on FAB 5 in Life for Busy Professionals
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