So recently I have been tasked with setting up a business. I had no idea what I was doing, but after a couple months of going back and forth, I think I can break it down into the necassary steps. Obviously the first thing that you will want to do is determine what form of business you would like to start. Corporations and Limited Liability Companies are legal entities, so your assets are seperate from the company, making your personal possessions safe. That is the bottom line on that one, if you are going to be in something where you could potentially be sued, then you should consider the Corp. or LLC.
I am setting up Hentsch Enterprises as a base hub for my personal operations. In business I believe that it is important to market yourself, so this is a huge step. My company started April 1 2010. The reason why I find this important is because now I have been operating this business for over 5 months. When I get done working through marketing at corporations and other businesses, my consulting business has already been established for a long time. This will help with credit, credibility, and just overall appearance. I also established a reseller account to work out some retail ideas that I have.
So, step one.. Visit these sites and learn about the benefits and costs associated with the different business models:
- Sole Proprietorship
- Corporation
- Limited Liability Company
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