Start-up Company Questions
I am looking for a more in depth look on how to start up an LLC. First off, I would like to briefly introduce myself. I am 18 years old, going into college for a Digital Marketing Technology major with a minor in Business Administration. I understand the basics of business as I have kept myself educated on business concepts and marketing concepts by competing in clubs/orgs like DECA. Videography is also something that I am passionate about and I have gotten to be very, very good at it. I have competed on the national level for Television (Video) Production at SkillsUsa. Because of this, the kind of business I would startup would be a video production firm/service. I would have businesses pick days out of a booking calendar and I would come record a professional video for them. I would also edit their video depending on the service package they select (standard vs. premium, but I will not go into specifics). I see LLC filing links on google that sound very promising; however, I do not want to fall for any scam that could potentially take advantage of my limited knowledge on the subject. Where (in your opinion) would be the best place, site, or person to go to to start an LLC? Also, is an LLC the best option for me?
One other question, I want to start this company with a colleague of mine. He is also very skilled in video production as he has competed on the national level for Cinema Production at SkillsUsa and has won many contests for names including Honda* (*on the regional level). Him and I would be the owners of this company; however, I do not want to start a partnership as I notice they very rarely work out according to plan (as everything does, but this I have seen a lot in my short life). Of course, I could be incorrect and a partnership could be perfect for my idea of a company.
As a side note, thank you for taking the time to do this free service and answer my questions! I looked at other forums and questions on this site and have a lot of respect for the time everyone puts into their responses, as well as the integrity all of you keep for questions that are almost incomprehensible. Again, thank you!
Kudos to you for launching yourself into a business venture at a young age. I’ve linked articles you might find helpful. The one thing I’ll suggest that will give you a leg up is hiring a business coach to walk through all the start up steps with you. Many small business owners fail on their first few attempts, because they make preventable mistakes. A business coach has been there, and can steer you clear of the landmines. Of course, our website has lots of helpful articles too, for financing, marketing, hiring employees, paying taxes, etc.
Best of luck to you!
Laura, SPHR, HR Writer