I’m the type of person who wants to see results quickly from the ideas I dream up. If there aren’t any results, then I assume my idea is not working and start to consider what my other options are. I’ve had to remind myself that my actions may not always produce immediate results.
If you’ve got a business idea though, there are some things that I’ve learned you can do to help speed up your ability to transition to new ideas more quickly. These are the “one time” items that after you do them, you don’t have to do them again.
The first one of these actions is filing for an LLC. It’s incredibly simple to do and in Ohio only costs $125. I decided to keep the name of mine relatively generic so that it doesn’t lead people to believe I only provide one type of service. For example, Adam’s Discount Trucks wouldn’t make much sense if I decide to start fixing computers. I decided on Adro Solutions, LLC after asking around for ideas.
Next, you get your federal EIN number. It’s free and can be filed for online in less than 10 minutes. While you could use your social security number for different business things, using an EIN protects you a little bit more.
Finally, open a free business checking account. I didn’t need to deposit anything into mine and there are no monthly fees. If I don’t make any money for 6 months, that’s okay.
So there you have it. That’s how I created a business and started a business checking account. While all of this could have probably been done in a week, I dragged my feet and it took a bit longer than it should have. But I won’t have to do it again so the next time I can get down to business faster!
If you have any questions on how to start your own business, send me an email through the contact form or post a comment below and I’ll help you get started with your dream.