Business side of things...

[August Hansen]

So I have already got my feet wet with a couple things. Before I really dive in, I want to make sure I have the backend/business side of my operation set up for ultimate success. So with that, I have a couple questions...

How did you structure your business? Did you create an LLC/S-Corp/C-Corp/etc?

Do you have business bank accounts?

What type of name did you select for you business?

I know its basic stuff for many of you but could really be insightful for a beginner like me at this critical stage.

Any words of wisdom are much appreciated! Cheers!

 

[T J Tutor]

How did you structure your business? Did you create an LLC/S-Corp/C-Corp/etc?

I incorporated myself (T J Tutor, LLC) as my shell corporation many years ago, then I created another under it. After you get to a certain revenue plateau, you will want to convert the LLC to a C-Corp. Ask you accountant about that.

Do you have business bank accounts?

YES! Absolutely.

What type of name did you select for you business?

I always tell everyone to incorporate themselves as the shell corporation. This way you always have your name as a brand if needed.

I know its basic stuff for many of you but could really be insightful for a beginner like me at this critical stage.

Perfect thinking August.

Any words of wisdom are much appreciated! Cheers!

Maybe I am wise, I know my girl always says I am a wiseguy!

 

[August Hansen]

I incorporated myself (T J Tutor, LLC) as my shell corporation many years ago, then I created another under it. After you get to a certain revenue plateau, you will want to convert the LLC to a C-Corp. Ask you accountant about that.



YES! Absolutely.



I always tell everyone to incorporate themselves as the shell corporation. This way you always have your name as a brand if needed.



Perfect thinking August.



Maybe I am wise, I know my girl always says I am a wiseguy!

You are indeed a wise man! You better watch out, I just might start asking you a lot more question if you keep answering them lol. Seriously though, thanks for your kindness in helping others to succeed. I'm meeting with my accountant tomorrow to iron out all the specifics. Thanks again @tjtutor !

 

[Franklin Hatchett]

I'm from NZ so a little different from US.

1: I registered my company as a Limited Liability company (LTD). I'm a director of the company/employee so I pay myself a wage each week.

2: Yip

3: I just used my family name. Doesn't matter what my company is called in the line of work I do. I'm never going to be advertising my actual company... it's just there for the money side of things.

 

[August Hansen]

I'm from NZ so a little different from US.

1: I registered my company as a Limited Liability company (LTD). I'm a director of the company/employee so I pay myself a wage each week.

2: Yip

3: I just used my family name. Doesn't matter what my company is called in the line of work I do. I'm never going to be advertising my actual company... it's just there for the money side of things.

Franklin, thanks for your insight! Been poking around on your blog, its great stuff. Really helpful for driven newbs like me.

 

[Franklin Hatchett]

Franklin, thanks for your insight! Been poking around on your blog, its great stuff. Really helpful for driven newbs like me.

Thanks . still got a lot of work to do, it's very time consuming at the moment haha