Incorporation

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When choosing to start a business, whether it be your first business or your 10th, you come to that important time of decision when you think to yourself, “Should I incorporate or should I start my business as an LLC formation?”  While there are benefits and drawbacks to both, I want to talk today about what I think is the number 1 reason to start your business as an Limited Liability Company.

So, what’s the number 1 reason to start your business as an LLC formation?

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When considering whether to form your small business, you may be asking yourself, “Is a LLC formation – right for me?” A Limited Liability Company can be a great way to protect your personal and family finances from business risks, as well as provide tax savings. There are some great benefits for those who choose a LLC formation. Yet an LLC is not right for everyone. You as the business owner are the only one who can truly decide what’s best for your business. So when thinking “Is this right for my own business?”, be sure to educate yourself and surround yourself with professional advice.

First, let’s start with the benefits of starting your own business via LLC formation:

1) Reduced Liability

LLCs reduce the liability you face as a business owner. Similar to a corporation, The LLC functions as a separate legal entity, protecting owners from liabilities of the business. Read the rest of this entry »

Any entrepreneur knows that at the point he or she stops learning, the success curve begins to fall.   We don’t all have the time or opportunity to go back to school or read lengthy books every week.  One way that I personally get solid, deep learning on the fly is with Stanford University’s Entrepreneurship Corner.  I highly recommend it.

Here is one I recommend.
Speaker: Jensen Huang, CEO of NVIDIA

Here is another video that I recommend if you plan on building a long-term, high-cash business:

Speaker: Hugh Martin of Pacific Biosciences

Check out more here.

“Why is now the best time to start my own business?”, you ask.

-The economy has taken an enormous downturn, meaning several things:
-Less job security for you
-More available employees
-Less competition to hiring
-More willingness for employees to work part-time
-Lower cost of supplies
-Companies cutting advertising and expansion, lowering competition and opening gaps for market entry

All of these together mean that now is an ideal time to start your own business, even if you’re low on capital.

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