How do I start a business? What are the most important first steps to take? How can I avoid the common business mistakes? Am I ready to be an entrepreneur? This week, we are covering the top 10 steps to take when starting a business. I’m walking through the essentials. And the good news is these are easy tasks you can complete this week! Have questions about any of these topics? Contact me! And enjoy the episode.
Listen on your favorite platform: APPLE, SPOTIFY, and STITCHER.
**While this educational blog post and advertised e-guide was created by a licensed South Carolina attorney, the information in both are purely educational. The information in this blog post and guide is not legal advice nor does it create an attorney-client relationship.**
The key to this first step is purchasing your domain name (or website URL) for a domain hosting site instead of through your current website provider. The reason being that if and when you inevitably change your website hosting service, you want to ensure that you’ll be able to take your domain name with you with no hassle or charge. For example, when I first started my business, my website was hosted on Weebly. I bought my domain name prior to the website though, through GoDaddy. So when I switched my website platform to Showit years later, I had no issue transferring my GoDaddy domain name to the new provider because I owned it.
Forming a Business Entity means filing the necessary documentation for your business to actually become a separate entity. Many businesses choose to become an LLC because of the many legal and personal protections this type of business entity offers. For more information on LLC Formation, go back and listen to Episode 12 of this podcast. You can also grab my complete Digital E-Guide to Forming an LLC in South Carolina. It’s a complete step-by-step guide walking you through the process with all the necessary links and proper documentation needed.
While not legally required in some instances, it’s advantageous to separate your business finances from your personal assets. This will not only save you the stress when it comes tax time, but it will also help you maintain a level of separation between your business and your personal life should there be any question that arises. You will likely need an EIN to open your business bank account. I recommend that you open a business account at the same institution you currently bank if you like them!
Join me over on this week’s episode of the podcast for the rest of the tips that essential for businesses when you are just starting out. Are you a wedding photographer? Grab my free 10+ page E-guide to Jumpstart your Photography Business.
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August 9, 2022
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