How to Start a New Business

Technology has made many aspects of our lives much easier and more convenient. It would be logical to assume that the instructions of how to start a business would be as easy as an online cookie recipe. The problem is not the finding of the cookie recipe, but the choosing of which one to try. This is the problem of starting a business, it usually starts with an online search. Once the enter key is struck the information drowning process begins and finding a breath of fresh air can be difficult.

It all starts with an idea, “hey, I could do that”. Then some deliberation on whether you can actually do it and if people would pay for it. A dance between humility, confidence, and lack of experience usually lasts a brief period before the risk of whether to start a business makes logical sense or not. After the decision has been made to give it a go, it is time to start the process of forming a business. Before one can though, you must figure out what business structure is best suited for the hair brain idea that keeps you up at night. LLC, S-Corp, Corporation, DBA, just when you thought you were past the phase of being indecisive you find yourself right back in the mix as to what box to check on a form. As a sole proprietor, the LLC is a common choice due to simplicity and liability protection.

Finally deciding on a business structure is great until you hit the stage of filing for a trade name. The late-night dreaming has likely spawned a catchy name or two for this experimental exercise in not knowing what you are doing. However, just because you think of it does not mean you get to use it. A search of the state’s trade name database is a must to make sure you are not a day late and dollar short on your millionaire making moniker. If you pass the test of originality, it is time to file for the trade name of your business. The state website usually can grant this with a small fee and a pdf making it official that you are now safe and sound with a registered trade name. Interestingly, Ballistic Artisan was not too hard to lock down.

With an official name handled it’s time to pursue business filings with a state agency, typically the Secretary of State’s office. If you happen to live in Nebraska, once you file your articles of incorporation and get an approval notification, it is time to head to the news stand. That is right, if you graduated high school before 2010 you may have heard of if not thumbed through the pages of a few newspapers in your day. In the state of Nebraska, you must run a classified ad for a few weeks in the local newspaper, hopefully you still have one close by. Once 1980 is aware you are starting a business, you must tell the Secretary of State’s office that you indeed went back in time for the prescribed amount of time. A signed notice by the publishing newspaper is sent as proof to the state for finalizing the new ventures creation.

Having jumped through enough ludicrous hoops you are done and off to making your millions. Well, not quite, things such as an operating agreement and tax licensing may be necessary if you plan to do a lot of business with your business. These subjects are better left as their own entities as the requirements of each business will likely be slightly unique. A good night’s rest is overdue at this point, the bad idea ferry has flown off and it is now an officially registered and recognized business.