Blueprint to Business

CHAPTER 3Business Basics

The fundamentals of business aren't that complicated. Setting up a business isn't that complicated. Protecting your business isn't that complicated. Filing the proper paperwork with the state and federal government isn't that complicated. This section of the book will highlight the things you need to think about when starting out or even if you are already in business now.

PROTECTING YOUR BUSINESS

When you're building a business, a legitimate business, you have to ask, “What do I need to do in order to protect myself”? I'm a lawyer, but this isn't going to be legal advice. If you do have concerns or aren't sure about the process, you should consult with a local attorney. That said, you can do a lot of what's necessary on your own; lawyers make you think that you need a lawyer for everything, but much of it is not that complicated. I did a lot of these things before I was even a lawyer myself. All that being said, if you are ready to start a business, it would be worth a few hundred dollars just to sit down with a business lawyer.

Business Building Tip

Lawyers aren't necessary for business, but consulting with one in the beginning is worth every dollar spent.

Let's say you have an idea. The first thing you need to do is to set up a company. Being a sole proprietor—in other words, running a business as an individual person with no official status—is one of the craziest things you can do. I don't care if you're a landscaper, a plumber, or ...