Setting Up A Business From A to Z

A – Assess Yourself & Your Idea
• What problem are you solving?
• Are you ready to commit?
• Side hustle vs. full-time

B – Build a Business Plan
• Vision, mission, audience
• How your product/service fits into people’s lives

C – Choose a Business Name
• Tips: Memorable, unique, easy to spell
• Quick check: domain, social handles, trademarks

D – Determine Your Legal Structure
• Difference between sole prop, LLC, corporation

Here’s the breakdown—simple, clear, and no legal jargon overload:

Sole Proprietorship

What it is:
You are the business. No legal separation between you and it.

Pros:
• Easiest & cheapest to start
• Minimal paperwork
• You keep all the profits

Cons:
• You’re personally liable for business debts & lawsuits
• Harder to raise funding
• Your business ends if you stop operating

Best for:
Freelancers, side hustles, very small operations with low risk.

⸻

LLC (Limited Liability Company)

What it is:
A separate legal entity that protects your personal assets (your house, car, etc.) if the business is sued or goes into debt.

Pros:
• Personal liability protection
• Flexible tax options (can be taxed like sole prop or corporation)
• More credibility than a sole prop
• Easier to add partners or members

Cons:
• Costs more to set up than a sole prop
• Some annual fees and paperwork

Best for:
Small to medium businesses that want protection and flexibility without heavy corporate rules.

⸻

Corporation (C-Corp or S-Corp)

What it is:
A fully separate legal entity—more formal, more rules, more potential for big growth.

Pros:
• Strongest liability protection
• Easier to raise investment capital
• Perpetual existence (business keeps going even if you leave)
• S-Corp option can reduce self-employment taxes (under certain conditions)

Cons:
• Most expensive and complicated to set up
• More regulations & ongoing paperwork
• Potential “double taxation” with C-Corps (profits taxed at corporate and personal level)

Best for:
Startups aiming for big investors, tech companies, or businesses planning to scale rapidly.

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My “Beginner’s Pick”

For most first-time entrepreneurs:
➡ LLC is the sweet spot.
It gives you personal protection, flexibility, and credibility—without the heavy complexity of a corporation.

E – Establish Your Brand
• Your logo, tone, and why it all matters

F – File Legal Paperwork
• Business registration steps
• Get an EIN, license, etc.

G – Get Finances in Order
• Separate business account
• Bookkeeping basics
• Finding funding

H – Hire Help (if needed)
• When and how to bring others in
• Virtual assistants, freelancers, employees

I – Initiate Marketing Strategy
• Website + social media = digital storefront
• Start telling your story now

J – Join Communities
• The power of networking
• Local events, online spaces, mentors

K – Keep Records & Stay Compliant
• Why receipts, renewals, and taxes matter

L – Launch Your Business
• Launch plans: big event vs soft open

M – Monitor & Adjust
• Look at data, feedback, and gut feelings
• Don’t be afraid to pivot

N to Z:
• N: Niche down to stand out
• O: Outsource where you’re weak
• P: Protect your peace and time
• Q: Quality control matters
• R: Revenue streams – don’t rely on one
• S: Systemize to grow
• T: Test everything (ads, offers, messages)
• U: Understand your customer deeply
• V: Visual identity = trust
• W: Work-life balance
• X: eXceed expectations
• Y: Your “why” fuels your grind
• Z: Zero excuses – it’s time to start!