| You've identified which gift God has given to you to | | | | There is a minimal cost that varies state by state but |
| create that major opportunity to excel, and you've | | | | normally it's less than $100. One word of caution: If you |
| shared your vision with a select few individuals who | | | | decide to establish an LLC, an S Corp or a regular |
| assisted you with solidifying your plan of action. What | | | | corporation, I strongly encourage you to solicit the |
| next? Now you must work. Most people do not realize | | | | advice of a certified public accountant to establish the |
| their maximum potential because they are always | | | | business properly, leaving no room for error. This |
| planning what they would do. There is so much time | | | | direction may cost you a little more money but it's well |
| daydreaming about the vision and sharing it with others, | | | | worth it. |
| that the actual work never takes place. But | | | | Your next step is to leave the records office or |
| understand this, now it's time to move. The path to | | | | accountant and go to your local bank. You have your |
| your destiny must begin step by step. Today is the | | | | forms in hand and $100. Open a business checking |
| day you make your dream a reality. | | | | account. From this moment forward, anything done on |
| First, you must choose a name for your company. | | | | behalf of your business should be completed out of |
| When giving your company a name, I suggest you also | | | | this account. Any income earned should be deposited |
| write your mission statement as well. Then you must | | | | into this account, not your personal account. DO NOT |
| decide how would you like to operate your business. | | | | COMMINGLE THE FUNDS! You will only confuse |
| Would you like to be a sole proprietor? Perhaps there | | | | yourself and blur the business and your personal |
| is someone who shares your dream with you and will | | | | assets. |
| support you one hundred percent, giving you an option | | | | Once you've established your business and you've |
| to establish a partnership. Other choices include an S | | | | opened your account, the next item on your agenda is |
| corporation, C corporation and Limited Liability | | | | finding someone who is in the same field as you are. |
| Corporation. How you incorporate your business is | | | | Maybe they will serve as your mentor or perhaps you |
| primarily based on your personal goals and objectives. | | | | can just ask questions. I suggest you set up a meeting |
| Once you name your company and incorporate your | | | | with someone and ask questions, questions, questions. |
| business, you must file for a federal tax identification | | | | Go online and see if someone is advertising their |
| number. Why? This is the number that identifies your | | | | services in the same industry. Have them send you as |
| company with the Internal Revenue Service for all | | | | much information as possible because you want to |
| income earned by your new business. | | | | figure out how to make money. After all, that's why |
| I know what you're getting ready to ask next. Nicole, | | | | you're going through all of these changes anyway--to |
| how do I accomplish all of that? Quite easily. The first | | | | fulfill your destiny and to make money. |
| thing you need to do after picking a name for your | | | | I'm going to stop here for now because I think this is a |
| company is to go to your local county clerk's office | | | | lot to absorb. But I will give you a glimpse of what's |
| and check the court records to see if your name is | | | | next just in case you can't wait. Simply put, people |
| being used. If not, file your company name and | | | | need to know about you. How do we accomplish |
| business in the state where you intend to transact | | | | that? Marketing and advertising! |
| business. At the county records office, they will assist | | | | As always, I welcome your feedback. |
| you with the proper forms so you don't mess up. | | | | |