Saturday, September 8, 2012

How To Start You Business: The Business equivalent of Legal Zoom

How to start you business? Find a good attorney is a must. But maybe you can save some money by doing some simple steps on your on.
I was told about the Legal Zoom of  Business is  Biz Filings. You can look them up at

Business License Application Package Starts at $99

Receive the necessary license and permit applications your business needs to operate in its city, county and state.

Doing Business As (DBA) Starts at $110 + state/county fees

Operate your business under a new or additional name.

Starting a Business Basics

In addition to helping you incorporate or form an LLC, BizFilings has the other products and services you need when you start a business. Featured services include:

Registered Agent Service $149/year

Required by state law, the Registered Agent receives important legal and tax documents and helps your business stay compliant with state requirements

Incorporate with BizFilings in 3 Easy Steps
Complete our easy step-by-step online order process
Receive your customized incorporation documents
Steps you need to do:
1. Business plan
2. Incorporate your business or form an LLC Address necessary post-incorporation formalities
3. Obtain your federal tax identification number (also called employer identification number or EIN)
4. Obtain a state tax identification number, if applicable
5. Obtain the necessary business licenses and permits
6. Hire an amazing accountant
7. Hire a great attorney.
8. Open a business bank account and obtain a business credit card
9. Set up your business accounting/bookkeeping
10. Establish business credit
11. Obtain business insurance
12. Ensure you comply with government requirements (e.g., unemployment insurance, worker’s compensation, OSHA, payroll tax requirements, self-employment taxes, etc.)
13. Determine your business location and take these steps:
Home-based: check zoning requirements
Other location: Lease office or retail space and obtain the necessary furniture, equipment and supplies.
  14.  Create any necessary contracts, service agreements and invoices so you can easily bill customers, track payments and keep records.
15. Obtain business financing
16. Create business cards, letterhead, envelopes, etc.
17. Secure a domain name
18.Create a website
19. Create a marketing plan
Make sure you get your NCNDA signed first to protect your clients and contacts.
Make sure you have a Irrovacable fee agreement signed.
Otherwise don't do business. When money is on the table things can get "ugly" and your once "honest" business associates will suddenly not no you and be off with the money.

Lessons learned by believing in a business associate who said he was my partner in any deals I bring him that closed I would get half. I was new, believing and trusting. I have all the papeer trail emails in the world but my trust in that Irrevocable signed contract makes it just harder to go backwards to now get my commission on 2 deals worth over $1 million dollars. Money can make a person forget their "religion" and your part of the fee commission. Who gets your commission if you dont get it? One guess, your nice business associate!!!!

Ten Steps to Start a Business from: ******

Prepare a business plan and materials

1. An important first step is preparing a business plan to define your business, products and services, and outline your goals, operating procedures and competition. If your company needs funding from a traditional loan or venture capitalists, a business plan will be required. Make sure your plan includes a marketing approach, so people are aware of what you're selling and how to find you.
2. Create a business logo, cards and stationery. These items establish your company’s identity and help potential customers find and remember you.

Meet legal requirements

3. Of course, incorporating your business or forming an LLC with the state is important because it protects your personal assets from business debts and liabilities. Other benefits of forming a corporation or LLC include tax advantages and greater credibility with customers, vendors and business partners.
4. Select an accountant and attorney. Many small business owners seek advice from accountants and attorneys. As you search for an accountant and attorney, get referrals from friends or family, and look for professionals who have worked with other small business owners or companies in your specific industry.
5. Get necessary tax identification numbers, licenses and permits. A federal tax identification number, or employer identification number (EIN), acts like a social security number and is required for corporations and LLCs that will have employees. Contact your state's taxation department to learn if a state tax identification number is required in your state. Also keep in mind that most businesses need licenses and/or permits to operate—in your city, municipality, county and/or state.
6. Insure your business and investigate other requirements. Some industries have specific insurance requirements. Discuss your needs with your insurance agent to get the right type and amount of insurance. Remember to look into any other government tax and insurance requirements that might apply to your business, particularly if you have employees. For example:
  • Unemployment insurance
  • Workers' compensation
  • OSHA requirements
  • Federal tax
  • State and local tax
  • Self-employment tax
  • Payroll tax requirements (such as FICA, federal unemployment tax, and state unemployment tax)
  • Sales and use tax

Prepare yourself financially

7. It is crucial to separate business finances from personal ones, so open a business bank account. Most banks require company details, such as formation date, business type, and owner names and addresses. If your business is not incorporated, most banks will require a DBA (doing business as or fictitious business name). Contact your bank about requirements prior to opening an account.
8. Arrange your business accounting and apply for loans. You may want to use an accountant, or handle finances yourself with a small business accounting solution. Either way, properly account for all business disbursements, payments received, invoices, accounts receivable/accounts payable, etc. And if you don’t have enough capital to start a business, this is also the time to seek funding from banks or through Small Business Administration (SBA) loan programs.
9. Establish a business line of credit. This will help reduce the number of times your company prepays for purchased products and services. It also helps establish a strong credit history, which is helpful for vendor and supplier relationships. Getting a Dun & Bradstreet (D&B) DUNS (or D-U-N-S) number for your business is advisable, as it is often used to check business creditworthiness.
10. Ready your workspace. For home-based businesses, ensure you are meeting city zoning requirements for your area. For non home-based businesses, you'll likely need to lease office space. Don't forget to purchase or lease furniture and office equipment to get your business up and running.

Check out!!!!!!!!!!!!!!!!!!!!!!!!!!

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