FAQs - Frequently Asked Questions
Should I Use a Lawyer To Form My Company?
It depends! If you have legal knowledge about the differences and pros and cons concerning: C Corporations, S Corporations, LLCs, LLPs, Sole Proprietorships, Cooperatives, then doing it yourself may be the way to go. Just make sure that you cross every “T” and dot every “I.” If you do not possess corporation legal knowledge, it’s probably best to utilize an attorney.
Do I Need a Business Plan?
Honestly, the short answer is, “YES!” That emphatically stated, the long answer is also, “YES!” You have heard the adage, “If you fail to plan, you plan to fail?” That profound truth will always ring true. You will be hard-pressed to find a phenomenally successful company that obtained success through osmosis.
Is It Mandatory For Me To Obtain a Business License In Addition To My Corporation Filing?
At best, that is a question you want to have answered by an attorney in your state and county. Or, contact the county you will be operating in to find out if there are any licenses or permits that you must obtain. Some businesses may not require a business license in some states. BE ADVISED: you want to know the answer to that question definitively. Do not, under any circumstances, leave this issue unaddressed. The last thing you need is to find out the hard way that you are operating illegally.
Am I Personally Liable For The Debts That My Business Incurs?
The answer to the question depends on the type of entity that you form; this is why you must take great care to choose the proper business structure. Additionally, once your business banking is established, you CANNOT commingle your finances with your business finances. That is classified as “Piercing the corporate veil.” It merely means that when those lines are crisscrossed, you can become liable for your business’ debts.
What Amount of Finances Will My Business Need?
The answer to that question starts with your written business plan. Here is a critical point that MUST permanently stick to your cranial cavity. As an Entrepreneur, the one position you NEVER want to be in is, UNDERFUNDED! An appropriately crafted business plan puts you in a position to be adequately funded at all times.
Is Social Media Marketing Important For My Business?
Years ago, people were glued to their TVs, listened to their radios religiously, and were constantly bombarded with flyers and billboard ads. In today’s business climate, Social Media Marketing is somewhat like a combination of radio marketing, flyers, TV advertisements, and billboards. If you are not utilizing Social Media, you are losing potential clients.
What Forms of Marketing Should I Be Using To Grow My Business?
Every business will be different in how, when, and where they reach their potential clients. Having shared that, here is a shortlist of some of the popular marketing options:
Social Media Marketing, SEO, Pay Per Click, Email Marketing, Push Notifications, Clickfunnels, Outbound Marketing, Content Marketing, and Video Marketing.
Is I Legal To Operate My Business From My Home?
The answer to that question hinges on several variables—namely, zoning laws, code enforcement, HOA rules, and business licensing and permits. If your business requires clients to patronize you physically, the answer [may] be no! If you need a storefront, or, if you must run certain types of machinery, use chemicals or have noise concerns, the answer may also be no. Always consult with the proper authorities before proceeding.