One of the first things most new business owners do is register their entity with the Secretary of State. While this may seem like a logical first step there are several important questions that need to be addressed first that you will come upon once you begin the application process.
Many businesses fail because the founder didn’t know what he didn’t know. As entrepreneurs, we always want to project that we have all the answers even when we do not. Moreover, admitting our ignorance to others makes us feel inferior which bruises our ego.
There are a number of common mistakes many founders make that can destroy everything they worked so hard to achieve. Most occur when there is some business success. Some mistakes are made out of ignorance during the initial filing process with the Secretary of State and others are the result of failing to finish the process.
Most people associate registering their business with the Secretary of State as the proper way to secure their unique business name. While this reason is partially true, it is not the real reason a business needs to register their entity with the Secretary of State. In this short video, we discussed the real reasons why […]
That got me thinking about the role licensing plays in business. A common belief is that state licensing is necessary to protect the public from bad actors. The reality could not be further from the truth. Can you imagine a group of people getting together and spending their time and money to create a petition […]
Many new business owners make several formation errors during and after the registration process that can come back and bite them later. 1, One common formation error is that the registering agent fails to include an entity identifier in the name, such as LLC or Inc. 2, Once registered, many LLCs fail to produce an operating […]