Knowing how to setup your online business can be an overwhelming thing to figure out when you first get a business started.
In a lot of ways, it’s easier to do than it’s ever been, but it can still take some time and energy.
In this episode, Mike and Brice chat about the different business structures that can be set up: sole proprietorship, limited liability company and various types of corporations.
The setup of your online business has significant implications for things like taxes and liability. It’s important to be aware of these implications and choose wisely for your business.
For many people starting their own business, it can be overwhelming to figure this stuff out. Be sure to talk to a professional in case you are unsure of what to do.
Tune into this episode for some helpful information about the early practicalities of setting up your online business. Check out the show notes below to follow along.
- The different structures of how you can form a business: sole proprietorships (3:21)
- How the Limited Liability Company (LLC) framework works (7:46)
- How Corporations are structured (12:41)
- What to do if you are wondering how to structure a business you are starting (19:46)
PEOPLE / RESOURCES
LET’S CONNECT ONLINE!
- Join The Building It Online Community
- Brice Gump — Major Impact Media | Connect with Brice on Facebook
- Mike Sebastian — Outside ROI | Connect with Mike on Facebook
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