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Thread: First thing you do when opening a business

  1. #1
    Gay is the new Black
    Join Date
    Jun 2006
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    Columbia, SC
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    First thing you do when opening a business

    When you get into a business, you want to know you are legally going to be able to maintain what it takes to run that business BUT… You also want an accountant to cover your costs and make sure you are on top of your game.

    Do you seek legal advice first, see if it’s something you can do, then get an accountant, set up the business license and try to put the legal consultation under the business as if it happened after you registered the llc/corp?

    This being if you don't already have a lawyer or accountant for your other ventures.
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  2. #2
    Making Pain Pay!
    Join Date
    Jul 2006
    Location
    Colorado
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    960

    First...lets kill all the lawyers!

    I think it is a 100% imperative that you seek good legal advice and have them review your business plan. Even if they are not an adult lawyer, they can still point out any pitfalls you might be missing. That being said, I recently met Chad (From Chadknowslaw) and he would be the first person I went to if I was about to start a new venture.

    A good accountant (at least where I live) is very inexpenisve, and well worth the effort. I would definately NOT go to some place like H&R Block. If you are going to see them, you might as well buy TurboTax or something along those lines.
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  3. #3
    ...since my first hard-on. A_DeAngelo's Avatar
    Join Date
    Aug 2005
    Location
    Central California Coast
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    its important to have good legal and financial advice when starting a business however, in my opinion
    you can get bogged down by too many restrictions.

    The "concept" for the business - the essential creative process - the process that drives the initiative - can be squashed by too many professional opinions.

    Common sense will dictate the feasibility - lawyers and accounts like common sense (so do investors)

    that's my 3¢


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