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How To Start A Business

Interested in starting your own business but don’t know where to start? You’ve come to the right place. As a mercenary 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

A cool feature included with registering your business 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.

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 so that you don’t have to use your own home address on business documents.

File Online with the SCSS

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.

File Online for EIN

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.

File Online Form 2553

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. info@bobsburgers.com. We also provide Email Setup services, too.

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 platform. Whether you’re looking for a new website, or want to redesign an existing one, please reach out to us for a Discovery Call. It would be my pleasure to get to learn more about your business plan, or to develop one with you!

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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!

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