Proper Planning for Starting a Business Creating a Solid Business Plan

In this conversation, the hosts discuss the process of starting a business and the importance of proper planning. They emphasize the need to avoid using platforms like LegalZoom and instead go directly to the state government website to create an LLC. They also highlight the importance of having a business address, phone number, and email, as well as getting a logo and website set up. The hosts stress the significance of getting an EIN and a DUNS number, and they provide tips on choosing a business name and a registered agent. They also mention the importance of listing the business on platforms like 411 and Yelp. In this conversation, the hosts discuss the importance of operating a business as a separate entity and the need to separate personal and business finances. They emphasize the importance of consulting with a tax professional to ensure proper structuring of funds and explain the process of obtaining an LLC and EIN. They also discuss the need for multiple business bank accounts and the different purposes they serve. The hosts provide insights on building and improving credit, including strategies for increasing credit limits and removing derogatory marks. They stress the importance of money management skills and having a solid business plan in place before seeking funding. They also touch on the role of mentors and the importance of seeking professional advice in areas such as taxes and legal matters. The conversation concludes with a reminder that every business faces challenges and the importance of continuous learning and improvement.

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DéMilles Instagram & Tik Tok: railway2success
Alex's Instagram: _ajthe1
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Markel Instagram: Mogulsince97

⏰ Timecodes ⏰
Chapters

00:00 Intro
08:53 The Importance of a Business Address, Phone Number, and Email
18:06 Getting an EIN and a DUNS Number
19:36 Choosing a Business Name and Registered Agent
23:53 Listing the Business on Platforms like 411 and Yelp
31:06 Operating a Business as a Separate Entity
36:15 Strategies for Building and Improving Credit
46:30 Mastering Money Management Skills
49:54 Creating a Solid Business Plan
55:13 Continuous Learning and Improvement for Business Success

#podcast #startingbusiness #businessoperations #llc #businessfunding #legalzoom #businessbanking