ventures

Easy Steps to Starting a Company

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Below is a step-by-step guide to properly starting a company, more specifically a Limited Liability Company (LLC). If there are terms or concepts that are unfamiliar to you, click on the links within the text for clarification.

  1. Start with a new idea or an improvement on an existing product or service. You can generate these ideas or improvements by asking questions like, “What am I passionate about? Is there an easier way of doing this? Could I create this cheaper? Is there a way to get this information faster?” Questions such as these will stimulate your mind to come up with ideas.
  2. Write a business plan. Once you have an idea you are ready to pursue further, create a business model around the idea to generate a positive stream of income.
  3. Register your company name with the Secretary of State in your state. Procedures to register in the state of Georgia or all other states. (Note: once a year you will need to file an annual registration form with your Secretary of State to be current.)
  4. Prepare and file your articles of organization for your company (Depending on the state, there may be additional forms to complete).
  5. Obtain an Employer Identification Number (EIN) for your company.

Please understand that though the steps to properly start a company are easy and clearly defined, it is your level of passion and discipline are the key factors to your success.

For those of you who are still overwhelmed by the amount of effort that is involved in starting a company, we have another option for you. “Business-in-a-Box”, which is a personal mentoring service catered to help you take your ideas and turn them into a legitimate company. If you are interested in these services please contact Maven IG at mavenig@gmail.com.

Posted on March 9, 2009
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