PROTECT YOURSELF STEPS: BUSINESS FORMATION

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Author: Neena Speer

Published: March 4, 2021

Category: Featured Articles

Forming a business is a step by step process that does not require you to know everything. It requires you to know the basics like:

Opening a business bank account
How to open multiple accounts
Understanding how money is not taken out of a business 
Who are your customers to you
Who gets What in Your Contractor agreements
Having a checking and a business savings

After having your finances, business plan and pitch, you need to find customers. You don’t want people who only buy your products. You need beta testers: people who are going to try your products and give important feedback to help you present your business.

Scalability:

You have to know how you’re going to scale your business. You must develop strategies for selling your products or services. It can be through online e-platforms like podia.com.

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 You got to decide where your business model is going. For example, I like using courses or online products as an example of the easiest thing to show you to gather emails quickly to begin your sales funnels. Now these programs do cost money, but creating at least one good product that is sellable as a download or a masterclass or even an e-course can make up that investment in the long run.

You can also come up with some type of quick videos for the business that will allow you to continue to develop your business but build your following that you offer for free on YouTube, IGTV, TikTok, Clubhouse, and more.

LLC formation process

You have to know how many steps you take before you get to the business formation. Because you might want to have an LLC, a partnership (which I don’t advise), a sole proprietorship (which I don’t advise, a corporation that is also a nonprofit without the 501 c3 exempt status. The number of steps you take ensures that you’re on a good path with your business.

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Therefore, remember that when forming a business, that you need separate bank accounts, business entities, and all other basic business building skills that contribute equally to successful business branding.

Wanna learn more about the formation process, try my new CEO RANI Course and 3 Book Series.

Disclaimer: This is for informational use only. Not legal advice. An attorney-client relationship is not formed by viewing and receiving information attached to The Neena R. Speer Law Firm LLC’s social media pages @neenarspeerlawfirm. “No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.”

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