4 Steps to Start Your First Business
4 Steps to Start Your First Business
Today I will share with you the 4 Steps you will need to take to start your very first business. If you want to see me go into depth on these steps I have videos and a playlist on this channel that do so. But here's the overview...
Step 1 - Set up your Limited Liability Company or LLC with your state. This process will result in you filing your Articles of Organization. The price was $125 and the website for the state of Florida is Sunbiz.org which redirects to Dos.myflorida.com. Your turn around time may vary but I received an email confirmation the next day.
Step 2: Publish your intent to engage in business with a newspaper in the county in which your principle office will be located. When you set up your LLC you will have a primary address. You can find a newspaper in that county to advertise. A few counties im Florida are available through (sun sentinel) on the website advertiser.sun-sentinel.com but my county wasn't so I used the Business Observer website which is legals.businessobserverfl.com and the cost was $28. I signed up on a Wednesday and it was published in the paper that Friday.
Step 3: You can either immediately sign up for your DBA or your EIN. I registered my EIN next so that I during filing I could enter my Doing Business as name on the form for my Employer Identification Number. You sign up for your EIN at IRS.gov. This gives you a unique 9 digit number that essentially acts as your business' Social Security Number. This is free.
Step 4: If you sign up for your EIN as Step 3 then the fourth step is to obtain your DBA. In the state of Florida, where I live, your DBA, or Doing Business as, is known as a Fictitious Name. If you are going to run a business that has a different name than your LLC name then you will want to have a doing business as name. If you live in Florida this can be obtained on Sunbiz.org which redirects to Dos.myflorida.com. The price was $80.
Once you have your EIN, then congratulations, you now own your own business! And with your Doing Business as Name you can run a business with a completely separate name than your LLC name. If you want to see me go into depth on these steps I have videos on this channel that do so in the playlist on the screen now. Make sure to subscribe so that you don't miss out on any of the steps on my journey to creating a successful online business. Until next time I pray your great effort leads to even greater success.
Disclaimer: I am not affiliated with this site and they did not sponsor this video. I shared my honest insights in this video. In addition, I am not a financial advisor. Labor Gains does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.
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