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 #LLCInsightsTIMESTAMPS:[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.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/@nycmee....tsbamapodcastInstagr https://www.instagram.com/nycmeetsbama/Youtube: https://www.youtube.com/@NYCmeetsBamaKat's Instagram: https://www.instagram.com/katerinafinckChris' Instagram: https://www.instagram.com/chris_merrimann/<br/><br/>This podcast uses the following third-party services for analysis: <br/><br/>Podcorn - https://podcorn.com/privacy