Corporations always have a board of directors; it's a requirement of the legal business structure. But regardless of your business structure, as a small business you can, and should, have a board of advisors.

Your board is there to guide you and help you make critical business decisions, such as on the structure of your business. Most boards have a similar makeup.

Let's start with the four basic players on your board:

• A legal representative
• An accountant or financial representative
• A business insurance representative
• A banking representative

You'll compensate these individuals for their services either directly or indirectly. For example, you may pay your attorney or accountant on an hourly basis. In comparison, your insurance representative makes a commission from the products or services for which he or she contracts with you.

Your experts can be partners in your small business success. Empower them to be part of your success.