I’m back! I took a month off, but it was a much needed break. It gave me a chance to reassess and improve my content. During that time, I made some calls, conducted a survey, and scoured Facebook groups to find out which questions are troubling you in your business. I received great feedback and it looks like many of you still have questions about how to get started and how to choose the right business entity for you. So I’ve created a Five-Part series which I will release over the next 5 weeks. The series will cover (1) choosing the right entity, (2) legally protecting your website, (3) protecting your digital content and avoiding copyright infringement, and (4) reviewing and entering into contracts, and (5) a bonus: the business of running your business.
You guys are in for a treat – lots of good legal information coming your way.
First up is “Choosing The Right Entity For You.” The most popular (and most stressing) question I received was where do I start? What kinda of entity do I form? Do I need to form an entity before I get started? So I’m going to start from the very beginning: what are your entity options and how do you choose the right entity for you.
The best part of the series is that each episode comes with a cheatsheet. And in this week’s download (which you can get up above), I’ve made it as painless as possible for you. I’ve included an exercise on how to choose the right entity for you, a list of the entity forming agencies in each state with hyperlinks to their website, and I’ve created a worksheet that will help you keep records of your fees and other obligations each year. I’ve also included a separate link for you to download the hyperlinked document for the entity-forming website for each state. Download that HERE. (Click below to get the entire cheatsheet)
I begin this episode by talking about your entity options. When it comes to starting a business, you generally have three options: (1) Sole Proprietorship, (2) Limited Liability Company (LLC) and (3) Corporations. Each one has its pros and cons but no one entity is the right answer, it’s up to you.
Next, I discuss the factors you should consider and what you should weigh for your own personal situation that will lead you to make the choice that works best for you and your business needs.
Finally, I give you clear actions steps and break down the step-by-step process you need to go through to weigh the factors, look at the pros and cons of each entity, and to make sure at the end of this episode, you know what to choose, why you chose it and how to actually form the entity.
And that’s what we’re all about. I want to empower small business owners and entrepreneurs to tackle and handle their own legal needs. This way you spend more time doing what you really love . . . mmmkay?
Now go and enjoy the heck out of this episode. I’ll see you next week.
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Twitter: Art Steele – @ArtSteele_esq