9 Things Your Business Must Have to Protect You (don’t skimp out here)

When you are setting up your business, you will need to be sure you do these 9 things to protect yourself, personally. This falls under the “not fun part” of setting up a business. These are absolutely necessary things to spend the time up front and take care of. I’m begging you, please please please protect yourself FIRST!!

1) LLC

It is important to set up your business legal structure. Choosing to register your business as an LLC can help you separate your personal assets from your business assets

2) Business Banking Account

This really is actually my number one. Do NOT, I repeat, do NOT comingle your personal and business bank accounts. The laundry list is too long to list here. By keeping a separate business account, you can track your revenues and expenses so much easier. You also protect your personal money.

3) Get an EIN (employer identification number)

This EIN will help you do so many things like open a business bank account (see above), business credit card, register as business on social media accounts and so much more. It is basically your social security number for your business.

4) Have Terms and Conditions on your website

PROTECTION ALERT!! This will explain and protect your intellectual property, refund policy, limiting liability and more. If you don’t know how to write one, there are several services available to find free templates and paid, more specific terms and conditions for your brand.

5) Have Privacy Policy on website

This one is quite literally a requirement (by law). The quick and dirty of this; it tells website visitors how their information is being stored and shared.

6) Find an Accountant/CPA

Please, if you do not have an accountant/CPA already for your personal taxes, get one for your business. I am in finance, and I even have a CPA. They are the true experts for your business and can help with tax breaks and understanding other business write offs

7) Trademark

Unfortunately, there are some mean people out there. If you don’t trademark your business, somebody else can and steal it from you. This could result in a large financial investment to change EVERYTHING you have built (not to mention all of that SEO you have been building).

8) Hire a lawyer

Maybe you don’t need to hire a lawyer full time, but it is probably a good idea to have a legal contact you can reach out to for advice or for an overall business review to ensure you are best protected and in good standing.

9) Maintain proper business licenses

Depending on your model, you will most likely have different business licenses you need to maintain or have visible in your workplace. This might be a good time to insert a legal consult.

If this list really brings you down, please read this as a reminder for 10 reasons why you need to start your business, NOW

I want you to succeed and do what feels good to you! No burn out, no disappointment! I want to hold your hand through this business journey!