136 days ago
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Running a business doesn't stop until the business stops. You can start a company faster and easier in the United States than almost anywhere in the world, but getting it right takes a plan. You'll need to consider whether you need a business loan, temporary or permanent staffing, whether you're going to use a public relations company to get word out about who you are, business insurances, data backup, where are your customers coming from? Will you need to contract with a lead generation service? And this is just the very tip of the iceberg.
Most companies in America are the equivalent of garage businesses with no corporate structure. That works fine for most people ... until you need to hire someone, take out a business loan or you get sued. Business incorporation provides you legitimacy, and some legal protection. Sure, there are legal forms and paperwork to complete, and you will need to ensure compliance with a formal set of rules (most of which you're already following,) but the benefits will easily outweigh the nominal cost of incorporation.
Megan Hughes, an expert on business formations, inaugurates Startup Boardroom with her answer -- if you think you've found a way to start a company without help, you're probably fooling yourself.
Aaron Patzer, CEO of Mint.com, discusses startup accounting and the financial history of Mint.com, which recently bought by Intuit for $170 million. Slides and video of Patzer's presentation are included.
