You’ve realized that you are destined to achieve extraordinary success in your life. You’ve identified which gift God has given to you to create that major opportunity to excel, and you’ve shared your vision with a select few individuals who assisted you with solidifying your plan of action. What next? Now you must work. Most people do not realize their maximum potential because they are always planning what they would do. There is so much time daydreaming about the vision and sharing it with others, that the actual work never takes place. But understand this, now it’s time to move. The path to your destiny must begin step by step.
Today is the day you make your dream a reality. First you must choose a name for your company. When giving your company a name, I suggest you also write your mission statement as well. Then you must decide how would you like to operate your business. Would you like to be a sole proprietor? Perhaps there is someone who shares your dream with you and will support you 100% giving you an option to establish a partnership. Other choices include an S corporation, C corporation and Limited Liability Corporation. How you incorporate your business is primarily based on your personal goals and objectives. Once you name your company and incorporate your business, you must file for a federal tax id number. Why? This is the number that identifies your company with the federal government for all income earned by your new business.
I know what you’re getting ready to ask next. Nicole, how do I accomplish all of that? Quite easily, the first thing you need to do after picking a name for your company is to go to your local county clerks office and check the court records to see if your name is being used. If not, file your company name and business in the state where you intend to transact business. At the county records office, they will assist you with the proper forms so you don’t mess up. There is a minimal cost that varies state by state but normally it’s less than $100. One word of caution-if you decide to establish an LLC, an S Corp or a regular corporation, I strongly encourage you to solicit the advise of a certified public accountant to establish the business properly leaving no room for error. This direction may cost you a little more money but its well worth it.
Your next step is to leave from the records office or accountant and go to your local bank. You have your forms in hand and $100. Open a business checking account. From this moment forward, anything done on behalf of your business should be completed out of this account. Any income earned should be deposited into this account, not your personal account. DO NOT COMMINGLE THE FUNDS! You will only confuse yourself and blur the business and your personal assets.
Once you’ve established your business and you’ve opened your account, the next item on your agenda is finding someone who is in the same field as you are. Maybe they will serve as your mentor or perhaps you can just ask questions. I suggest you set up a meeting with someone and ask questions, questions, questions. Go online and see if someone is advertising their services in the same industry. Have them send you as much information as possible because you want to figure out how to make money. After all, that’s why you’re going through all of these changes anyway-to fulfill your destiny and to make money.
I’m going to stop here for now because I think this is a lot to absorb. But I will give you a glimpse of what’s next just in case you can’t wait. Simply put, people need to know about you-how do we accomplish that? Marketing and advertising! As always, I welcome your feedback on www.nicolesimpson.org and don’t forget, my second edition to my book The Ultimate Plan…Planning for a Reason, A Season, and a Lifetime will be available the first quarter 2007!