Barbara Weltman: How to Build Your Dream Team & Plan For Success

Small business owners often don’t know what they don’t know, and that’s exactly why my conversation with Barbara Weltman was so eye-opening. We discussed the new reporting requirements from FinCEN (Financial Crimes Enforcement Network), which primarily impact small businesses and sole proprietors. With steep penalties for noncompliance, business owners need to be aware of these changes, especially if they’re forming a new business. The process is simple and free, but many business owners are still unaware of the obligation. As Barbara emphasized, staying informed is essential to avoiding unnecessary risks.

Beyond compliance, we also explored the importance of building a strong advisory team. Many small business owners try to do everything themselves, but Barbara highlighted how outsourcing key roles—such as accounting, legal, and IT—can actually save money in the long run. Having the right experts in place allows entrepreneurs to focus on what they do best while ensuring the business runs smoothly. She also stressed the necessity of regularly reviewing financials, using tools like QuickBooks, and proactively managing business goals to stay on track.

If you're a small business owner, entrepreneur, or thinking about starting a business, you won’t want to miss this insightful episode. Tune in to the full episode of Conversations with Carroll to hear my full conversation with Barbara Weltman. We dive deep into essential business strategies, financial planning, and practical steps to protect and grow your business. Listen now and take control of your success!

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