Starting a Business
February 6, 2024
Interested in starting your own business but don’t know where to start? You’ve come to the right place. As an unlicensed web developer I’ve helped a lot of entrepreneurs start their business, and have compiled the steps to get you going.
Step 1: Register Your Business with the SCC
Yes, the alternative to going agora is registering with the State. The plus side comes with access to wholesale prices for stocking up on inventory, access to vendor lists, business lines of credit, and you also get to write off expenses. Sounds like a good trade-off to me.
You begin by securing official recognition for your business as a Limited Liability Company (LLC) by filing with the State Corporation Commission (SCC), e.g. Bob’s Burgers LLC.
Ensure compliance with a $100 LLC filing fee and a $50/year registration fee (mark this on your calendar).
Privacy-conscious entrepreneurs can utilize a registered agent service like Virginia Registered Agent Services for $49/year.
Step 2: Apply for an Employer Identification Number (EIN)
Once approved, you can apply for an EIN with the IRS, which is a social security number for your business. Copy and save all documentation for this.
Step 3: Apply for S Corporation Status
You have a window of a few months to do this after you register your LLC, so don’t relax filing Form 2553, to secure S Corporation status. This proactive approach avoids double taxation, maximizing tax-saving benefits.
Step 4: Apply for a Business Checking Account
Keep your finances separate by opening a dedicated business account using your EIN. Opt for reputable credit unions like Navy Federal Credit Union or Virginia Credit Union for favorable rates.
Step 5: Get a Logo
Personalize your brand identity by commissioning a logo through platforms like Fiverr. There are a lot of talented artists there offering diverse styles, such as minimalist, vintage retro, synthwave, or tactical designs.
Step 6: Get a Domain
I recommend Porkbun for registering your domain. It’s the best and cheapest service on the market right now with low cost annual renewal fees. Go for a classic .com domain.
With a domain and logo secured you can proceed with designing a business card, or hiring someone on Fivver to design it for you. Local to Richmond, Minutemen Press (what a great name) provides great printing services at an affordable cost.
Step 7: Get an Email Domain
Porkbun does offer email hosting, but it’s not what they do best. I would choose between Google Workspace or Microsoft Outlook 365. You need to buy a domain first before syncing up, e.g. email@example.com
Step 8: Setting up Payments
There are a lot of payment processing platforms to choose from. For me, I use Stripe. It also comes with a device you can attach on your phone to immediately accept payments on the go. You can also set up invoices to send to your customers/clients, too. For Bitcoin payments, I recommend going with OpenNode.
Step 9: Get on the Digital Marketplace with a Website
There are a lot of ways to build a website, but not everyone can build one that works. You’ll have to consider the pros and cons of each. I have a Business Form that I give to clients through Pixel Forge Studio to help them with their exploratory phase for a new website that you can use to develop your business plan:
Step 9.1: ???
Step 10: Profit!
Follow those steps and you’ll be well on your way towards the American Dream of being a part of the coveted bourgeoisies class. If you get to the size of being able to hire employees, remember to throw away resumes with pronouns in them. That’ll save you needless headaches and the stuff of HR nightmares.