Starting a Business is Easier Than You Think
The biggest mistake I’ve made as a business owner was not starting my business sooner. Starting a small business takes a little effort, but the truly legal aspects of it, are very simple. I’m going to walk you through the steps for how to create a single member LLC which is how my business is structured.
Choose a Name
For some people, this comes easily. For others, this really is the hard part. But the first thing you have to do is pick a name. Some things to think about when you’re choosing a name are:
- Is it available as a URL or domain name you want? You can check here: https://domains.google.com)
- How might people abbreviate it? Are you okay with those abbreviations as ways to refer to your business?
Reserve Your Name
Don’t get too attached to that name yet. Depending on your state, you will have to check name availability and register your business. The link to check this and reserve in Indiana is https://www.in.gov/dor/business-tax/register-a-new-business/. If you live in another state, it’s as easy as typing “Register a business in insert your state here” in Google.
Create Articles of Organization
This step is essentially done for you in Indiana as you do the registration with the state. You will identify your registered agent as you complete the form in Indiana and a copy of articles of organization are created. If you live in another state, look for the steps to appoint a registered agent and file articles of organization.
Create an Operating Agreement
Businesses have rules. You get to write yours. These are written in the form on an operating agreement. I didn’t do this right away but have an agreement now as I’ve continued to learn more about running my own business and protecting my assets for the long run.
I’ve been using a Rocket Lawyer annual membership since I started the business. Keep in mind that this is NOT actual legal advice. However, you can ask an actual lawyer legal questions which has been…