002 - What to Consider When Starting a Business

🎙️ On today's exciting episode of "NYC Meets Bama," we dive deep into the world of entrepreneurship to discuss essential considerations when starting a business. We want to share valuable insights and tips that we wish we had known when we embarked on our own entrepreneurial journey.

In this episode, we explore a wide range of topics to set you on the path to success. We demystify various business structures, including LLCs, operating agreements, registered agents, limited partnerships, and even trusts. Understanding these options will empower you to make informed decisions when establishing your own venture. Additionally, we cover what to do when you're just starting out, such as developing a solid foundation and creating standard operating procedures (SOPs). Our practical tips and actionable advice will help you kickstart your business effectively.

#NYCmeetsBama #BusinessStructuring #LLCInsights

SPONSORS:

Riverside (Get 20% OFF) - https://www.riverside.fm/?via=nycmeetsbama

PropStream (Get your 7-day free trial) - https://trial.propstreampro.com/nycmeetsbama

Go to https://betterhelp.com/nycmeetsbama for 10% off your first month of therapy with BetterHelp and get matched with a therapist who will listen and help #sponsored

TIMESTAMPS:

[00:00:00] Kick-off: Returning hosts Chris & Katerina discuss topical matters.

[00:00:54] Unraveling LLCs: Asset protection and structure.

[00:03:51] Anonymity vs. Asset Protection: The role of vetting attorneys in businesses.

[00:09:22] Optimizing Employee Value: Variations in IRS view on rental types and the necessity of addressing these.

[00:10:37] Growing Wealth? Ensure adequate asset protection with your growing net worth using LLC insurance.

[00:12:09] Scaling Tips: Leveraging SOPs & KPIs in business growth.

[00:17:07] The Streamlining Approach: Start small, work smart & leverage CRM.

[00:24:29] Wrap Up: Stay updated, follow us on YouTube, TikTok, and Instagram.

Your feedback matters to us, so please let us know if you enjoyed this style of video. We are eager to hear about the challenges you're facing, and we'd love to dedicate an entire episode to answering your burning questions. Together, let's navigate the intricacies of entrepreneurship and pave the way for your success.

Remember to stay tuned for more thought-provoking conversations like this one! Follow us on all platforms to ensure you never miss out on our latest episodes.

Like and Comment! 

FOLLOW: 

TikTok: https://www.tiktok.com/@nycmeetsbamapodcast

Instagram: https://www.instagram.com/nycmeetsbama/

Youtube: https://www.youtube.com/@NYCmeetsBama

Kat's Instagram: https://www.instagram.com/katerinafinck

Chris' Instagram: https://www.instagram.com/chris_merrimann/

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy
Podcorn - https://podcorn.com/privacy