if you are looking to start a business you've probably already googled it you've probably already been on YouTube and what you found is most people are going to tell you that you need to have this awesome idea and you need to provide value and then they go right into how you can sell your product there are so many little details in between that they're not telling you they're not telling you about when to file your LLC or how your taxes should go or any of these other little details that you start to figure out as you become a business owner that no one tells you about sure your sales are great how are you managing the money that you're bringing in when is it time to grow how do you you know take advantage of all the tax credits how do you get funding if you're looking to grow specifically small business loans or grants these are things that not a lot of these videos talk about and when I started my first business I didn't really know a lot of this stuff I thought you file an LLC you legitimize your business immediately and then you figure the rest out and that is not the case that was bad advice bad advice that was provided to me by the Small Business Association cause if you think about it it's in their best interest for me to sell for me to sell stuff and to pay taxes they don't tell you that you have to pay taxes even if you don't sell stuff so today I'm going to walk you through from start to finish how to start and grow a business and all the little details in between that most people are not telling you so let's get into it before we get into this framework that I've developed just understand that I'm going to be doing things out of order the general steps for starting a business are going to be the same no matter who is telling you how to do it everybody has to do the same exact things to start a successful business there is consistency in the videos that you're that you're seeing what I am going to say is that I do things in a little bit of different order this has worked for me this has helped me grow six of my businesses and start a non profit the other thing I wanna say is that there are a phenomenal there are a lot of phenomenal business owners out there you have the Alex Hormozies the Russell Brunsons you have a lot of people are giving you business advice but like Chris Williamson said on the Modern Wisdom podcast you should really only be looking at someone who was in your position 10 steps ago so for ease of this analogy that I'm going to be telling you guys let's say each step is one month do you think 10 months ago Alex Hormozy was in your position maybe making less than six figures no he was a millionaire 10 steps ago same thing with Russell Brunson so they are leveraging their experience of having been millionaires they might be able to reflect a little bit about how they started especially how they grew their business from nothing but you are not in that world you are not in the world that they were in when when they started to build their business from scratch so the advice is giving you that's working for them today is not going to work for you because you are not trying to grow a multimillion dollar business I am not a multi millionaire I have seven very successful businesses well I'm selling one so let's just say six very successful businesses in a non profit and this has worked for me this has helped me go from zero to six figures and for a couple of my businesses zero to seven figures 10 steps ago I was probably where you are which is on YouTube I started my first business at the end of 2,019 right before the pandemic and my businesses survived I happen to go into an industry that actually did really well during Covid as my first business was a security business meaning I provided executive security to business owners to the elite and during Covid we still needed security more so than ever so my business is really well I started a fitness business a supplement business I have a business consulting firm I have you know I have a pro then I have a business where we make physical products so it's kind of like a start off as an Etsy store now we're hosted on our own website so I have businesses in various niches and I started the first two wrong I went off of the advice that I was given on social media that I was given by the Small Business Association what that did was they told me hey file your LLC figure everything else out I did it for the security business got lucky did it for the fitness business and I did not get lucky I Learned the hard way so every business I started since then has been using this framework and it has worked my last business that I started was last year we're already profiting in the 5 feet figures meaning that our revenue is already in the six figures so this framework has worked for me I'm going to mention some caveats I am a business consultant so I have experience in multiple different industries so I'm there are some deviations from this framework that I will explain to you as we go through this framework so the first step is an idea maybe this idea is you think is a really good business idea the main thing is not just an idea it has to solve a problem and it has to solve a problem for more than just you so if you have a really cool idea for let's say like an invention or a product what problem is that invention or product solving and who is it who's who has this problem if you are trying to create a more efficient way of dispensing detergent into the washer who is that problem affecting and is this actually a problem do people need something that's gonna help them dispense detergent more efficiently into their washer maybe you think it's a good idea but that brings me into the next part of this first step which is validating your idea understanding who else has this problem once you've established how you're going to solve their problem the next thing we do is a little bit of market research do you have any competitors out there this is when we get into something called a SWAT analysis you're gonna be doing all this while you're validating this idea to understand if this is a really cool idea or you just weird and thought of something weird so this market research is gonna understand is anything like this exist is there anything that comes close to it so going back to this laundry dispensing problem let's say there is a product out there maybe it's a pump that you put on the end of your laundry detergent and that's supposed to be like ease of use you have to worry about messing with this little cup thing you just put it right into the you know right into the washer and you're like well that's a really cool idea but what if that thing had a hose if you have it up in a cabinet you never have to take it down you just take this hose out and you pump it right into the washer weird do people really have this problem are people really gonna want this is it really that much of a is really that much of a problem to just fill the cup and put it in there you I don't know we have to do the market research that mean that might be that might mean asking people if this is a problem that they were had you're not gonna tell them what your solution is but you're gonna answer the problem or let's say just going back to ease of use I thought the laundry just came off the fly but let's say you're a plumber and you've noticed that there aren't a ton of plumbers who work after hours there's a couple and they dominate the market and they're super expensive they take advantage of the fact that someone who's calling a plumber at midnight is having a is having some sort of plumbing emergency and you wanna enter that market but you wanna go into it maybe a little bit differently maybe it's just maybe you establish clients ahead of time right maybe you say hey listen and you set up an account with me and I'm your on call plumber you pay me $100 a year and I'm guaranteed to come to your house when you call me even if it's the middle of Christmas dinner so that's your idea then you go and look at your competitors okay they're just 24 7 they're not guaranteeing anything they're not always available you look at their Google reviews you look at their Yelp reviews and you see the issues that people are having but you also see the things that people like about this business like maybe they had be there maybe they were at the person's house in less than 15 minutes or maybe they gave them a really good rate or whatever the case is you look at the good and the bad based on with the public saying so with that you determine how your business is going to fare up against them and what is your unique perspective the other thing I wanna mention is around this time when you're doing your idea validation in your market research you won't understand who your target audience is so if you're gonna be an after hours plumber your target audience is probably gonna be homeowners unless you're gonna go into like some sort of commercial thing and it's gonna be apartment apartment buildings but who is a real client of an apartment building the property manager okay what's the demographic of the average property manager or if you're doing residential what's the average population of homeowners most of the people who were handling this are going to be the husbands right so you're saying okay I need to appeal to middle class men of this education level of this ethnicity or whatever the case is you can get as specific as you want I generally tried to narrow it down to like education level age and gender so you can tell yourself okay I need to make I'm appealing to the people the types of people who own homes and what do people homeowners care about I don't know you have to go look for me I care about cost effectiveness but doing things right I don't have a cheap plumber come out who's not actually gonna fix the problem either the problem gets worse the problem comes back and now I'm spending more money so most homeowners are gonna be paying attention to the cost of things but also the quality of the work so now that you've done your market research you validated your idea it's not just some weird idea anymore you've actually validated this thing you've done the market research you understand your competition you understand the pain points of homeowners which is things are really expensive or you know maybe there's only a couple to choose from or maybe they took a long time you understand the good and the bad and now you can start to build your business and this is only getting to business plans I know there's gonna be a lot of people out there like you don't need a business plan you do need a business plan and the reason why I say you need a business plan isn't to be anything fancy or like professionally done or like in this really awesome presentable format the business plan is for you it's not for you to give away it's not for you to give to anybody else once you're getting a business loan and yeah the business plan is gonna be for the bank or the lender whoever but you need a business plan because going to force you to ask yourself the difficult questions the difficult questions are going to be things like what are the strengths weaknesses and opportunities and threats of your business in your market if you're a plumber there aren't a ton of threats of them maybe competition or maybe state regulations or maybe if you're going into like the firearm industry some of the threats to you and your business is gonna be policy and regulations and laws that are passed are you in a state that is gun friendly you know these are questions you have to ask a lot of people don't ask themselves these things because they've never been presented with the question you can present yourselves the question by completing a business plan now I have a ton of free business plan templates on my website a lot of things I'm talking about right now can be found on my website I also wrote a book about this on how to start a business I also wrote a book about how to run a successful business and you know master taxes as a small business owner I'll leave a link to both those books in the description this is kind of like a Cliff Notes version of those books there's a lot more detail in the books including you know resources and links to specific things I'm gonna be talking about which I'm not gonna get too much into into right now but just understand kind of going back to my point that you need a business plan there's a free template that was my point of that there's a free template on my website if you need help kind of putting together business plan the Small Business Association also has business plan templates because they require business plans if you're gonna apply for a loan from them or honestly from anywhere so in this business plan it's going to ask you not just about your idea it's not gonna ask you only about your SWAT analysis and understanding the market um in your market research it's gonna ask you things about day to day operations how do you plan on running this business how much time do you plan on dedicating to it right now you might think you're gonna wing it but don't wing it be consistent consistency is key to almost everything whether it's going to the gym running a business you need to be consistent so this business plan is going to ask you things about that you know what's your operational strategy if you're you know making and selling physical products like I have an Etsy store on making phone cases like this if I'm gonna be making upside down if I'm gonna be making phone cases maybe I make the cases on Wednesdays and I ship them out on Fridays but I'm taking orders throughout the week and everybody who places an order knows orders are fulfilled within seven to 10 business days so come up with that and that goes in your business your business plan the operational strategy it's also gonna ask you things about like who's your target audience and then understanding who your target audience is your business plan is gonna ask you how are you gonna market to them how are you gonna put your business in front of them why are they gonna buy from my Etsy store or realize your plumbing service when there's a million others out there what makes you different and how you can get your business in front of them to tell them how different and how amazing your business is that's also a part of your business plan your business plan is going to force you to answer the hard questions it's going to force you to plan it's what it's called it's a business plan yo da it's what is your plan generally business plan is gonna probably be done every year I recommend if your business is fast pacing growing constantly you might need to update your business plan every quarter by annually however you want the other thing your business plan is going to ask you usually at the bottom usually it's the last thing once you figured out how your business is gonna run how you gonna market it once you've done your industry and market research once you've done all of that getting it to the financial part of it how much is it gonna cost you to run this business and don't think about paying anything out of pocket write down everything from office applies to raw materials you know you can put an advertising budget in there if you want I don't really I don't really recommend that initially we wanna try to grow your business organically in the beginning because add spend can start to add up but that financial analysis is going to see how much is gonna cost you to run that business maybe month to month write what your overhead cost and then how much money do you think you're gonna make and that question is answered based on market research so I had a client who was going into the wine industry and you know knew what he was doing had been working in this industry for a really long time was getting $1 million in funding from bank and thought that he was not gonna be negative the first year thought that he was gonna make millions of dollars the first year it's like how do you think you're gonna enter this brand new market and get all these clients when your competitors every single one of your your competitors is over 20 years old they've been in the industry 20 years and they have clients they've been working with for decades yes you might be the new face maybe some of those clients are disgruntled and don't wanna work with them anymore and I've only been working with them because they've been forced to cause they're the only person in the market you enter the market as a fresh face you might steal some of that business but there is a high probability that you could be negative in the first year and you have to plan for that a lot of business try to grow too fast try to too much too fast and that's why you're in the negative the plan that I'm teaching you right now is to keep you in the positive even in the first year so in that financial analysis you're going to figure out what your overhead cost is and this is going to be key for what we're going to be doing later on in this framework so to kind of review what we've done so far we have your idea we validated your idea through market research we put everything together in your business plan from determining your competition your operation strategy your marketing strategy and your financial analysis you ask yourself those hard questions then we get right into the cost breakdown how much is gonna cost you to start your business from licensing fees running your LLC what your annual taxes that's due to state every year and would you would you have to pay the federal government are you currently working right now you know how much is your office supplies gonna cost you raw materials once you figure out what your overhead cost is then we need to understand how much money you need to invest in the beginning so leave an example of a I'm gonna give two examples here so let's say you want to start an e commerce right you wanna sell like I sell these phone cases maybe you wanna sell phone cases for every single phone so the galaxy the Pixel the iPhone and you wanna have 5 designs 5 designs for each phone but each of those phones has like a pro version or different like iterations well that means you're gonna have to buy a lot of inventory right off the bat that's gonna put you in the negative you're gonna be the negative before you even start your business so bring it in you need to bring it in and I know you you know you're probably thinking like I'm gonna be the greatest and I'm gonna sell all these things and you might you might be but you need to start small so if I was gonna start my Etsy store again I would do like I did and I'm only gonna make phones I'm only gonna make cases for let's say the iPhone 16 or whatever iteration they're on right now those are the only cases that I'm making because I can keep my inventory small and I can make them to order whereas if I were gonna try to make cases for every single phone that's out there I'm gonna have to spend thousands of dollars in inventory before I even start my business let's say you are going to industry like plumbing as plumbing is my favorite example because you can't do any actual plumbing work until you were licensed and legitimized in your state so LLC the whole 9 so that means your overhead cough right off the bat is gonna be a lot more I recommend if you can be a sole proprietor at first and I can't wait to see what people are gonna say about that but keep your overhead small if an LLC is meant to protect you it's limited liability you're limiting the liability that's on you as the business owner so if you're not going into some crazy high risk high liability industry like if I'm making cell phones it's pretty low liability and if I'm starting really small I don't really foresee there being a big problem start small and defer the LLC to later on and this is the piece that kind of makes my framework a little bit different is because a lot of people will have you get to this point and immediately file your LLC well the clock starts when you file your LLC the state the federal government are like cool your business now you owe us money they don't waste any time they don't care how much money your business is making you could be in the negative they don't care they want their taxes especially the state of California it's not pro rated so if you start your business November 1st they want their taxes by December 31st and it's $800 so doesn't make any sense so if you're gonna start your business in October wait until January to file your LLC or wait until you can afford the tax cost so if you're like okay I need to put away $90 every month for taxes can can you afford that right now and you're over and the answer is probably gonna be no cause you're making zero dollars or just starting your business so when your business picks up and you can afford to you know pay that money in the taxes and you're not you know risking any sort of liability you could potentially defer that yes you're gonna be the sole proprietor yes you're gonna pay a higher tax rate right now but what's gonna cost you more money to file your LLC and pay taxes or to pay the 15.3% in income tax like what is gonna yeah you have to figure that out I can't answer that question for you cause I don't know what your business is so you need to see what's gonna be worth it is it cheaper for you just to pay the full income tax right now or is it to you to file your LLC and pay state and federal taxes for your business now if you fire LLC there's a lot more tax breaks including that 15.3% becomes 50% right offable right offable that's not a freaking word that's not a word you can write off 50% of that so and I talked about that in another video basically you have to weigh there's like a a little bit of a decision that you have to make as a business owner to determine whether or not that is the right you wanna take I recommend starting off as a sole proprietor for as long as you can and then getting your LLC depending on you know that cost analysis now you need to figure out do you need capital to start your business if you need capital and requires you to go to a bank or an investor I I would just be aware they're gonna base it off of your income and your credit scores if you're not bringing any money or enough money or if you don't have a good credit score chances are you're not gonna get a loan from a bank chances are you're not gonna really be the ideal candidate from an investor so you need to figure out how you are going to self fund this and for a lot of people that's the best way to go unless you have somebody who can help you with grant writing without spending a ton of money on an actual grant writer or if you yourself wanna take a stab at it but a lot of grants they're gonna wanna have you like I know some of the grants that I've applied for and have actually gotten the money from is or were awarded funding you know they wanted a video they want to learn more about my business but if your business is just starting off your very high risk changes are people are not gonna want to give you their money mostly because a lot of these companies who give out grants they market with that they say that they gave $1 million to small businesses and look at all the small businesses that are doing really well with the money that we gave them you're not gonna be an ideal candidate for them even in that sense ending with the bank so you wanna figure out how you can sell fun which is why I always recommend that you start small right I can make cell phones for every single cell cell phone that's out there but can I afford it when I'm just starting on an Etsy store maybe start with one phone maybe one design and then as people start to buy those things as it start to generate revenue then I say okay if I go up to maybe I do the iPhone 15 and iPhone 15 Pro how much more is that gonna cost me an overhead can I afford that right now was living in the positive every decision you make has to be extremely strategic and put these things in your business plans maybe you say I'm only gonna make cases for iPhone 16 up until I can make $500 a month in profit once I get to $500 a month in profit then I can introduce a second product and give yourself a few choices maybe all of a sudden Galaxy S23 are doing really well and that is the next product that you that you offer cause you wanna broaden the people that you're selling to it not just iPhones but maybe also galaxies so you put that in your business plan at $500 I'm gonna introduce either the iPhone 16 Pro or the Samsung Galaxy S23 or the Google Pixel these are the things you're gonna work into your business plan and maybe give yourself a couple of landmarks maybe after you make $500 a month in profit maybe it's okay at $750 in profit I'm gonna bring in three new products you have to figure that out in your business plan that's a point of the business plan it's also a point of the market research you can understand what the cost of good sold is gonna be now if you are a plumber let's say offering services you're probably licensed to do everything so what you need what you're going to limit yourself in is potentially you know what service reaction offer if someone calls you because they need you to change change out the the drain in their sink which thing that I just did now maybe it's not worth it for you to go out there and do that because you know that you need to make at least $100 per call in order to cover your overhead if your licensing and your insurance and all that other stuff so you say well it's not worth it for me to go out there because I charge $70 an hour and that job's gonna take me 15 minutes I'm not gonna charge them maybe you charge them the full hour they're like do I wanna pay $100 for somebody to spend 15 minutes here it's not worth it for you it's not worth it for them so maybe you find a way to package that in with something else maybe you say hey listen I have to charge you a minimum of $70 but this is gonna be a quick job so I tell you what I'm gonna hook you up right now and you know you work in a way where you can make a deal out of it and you can still have a client who thinks like oh man this guy's really hooking me up or this girl's really hooking me up and they refer you so it's a part of that networking piece which is the next step you need to spread the word but the spreading the word is more than just posting on social media and ads fund you need to actually get out there and getting out there can mean telling your network of people what you're doing and that might be hey letting them know ahead of time building up the anticipation this is gonna be part of your marketing strategy marketing and networking should go hand in hand so you're going to tell the people you work with or maybe tell your family and friends that you're gonna be starting a business and maybe you do start that social media page and instead of just being super salesy and like just trying to collect money right away provide a ton of value if you're gonna be making a bunch of cell phone cases maybe do a ton of behind the scenes stuff are we gonna be a plumber who knows that it's a waste of time for you to go and change someone to drain cause it's gonna take you two seconds to do but there's no one's gonna pay as much as you need to charge them so you make a video showing people how to change the drain you build your social media following and you you build you provide a ton of value to them so yeah it wasn't worth it for you to go out there and change that drain but now you have a step by step video that people are gonna save and refer to and share with their friends when they actually do need something they say oh yeah there was that one guy who taught me how to change my drain and it worked I'm gonna call him cause I know he's local and he can help me and maybe you end up building a social media following which are actually monetized and that video is now gonna make you some money so networking is also kind of that providing value peace notice how we haven't even gone into LLC stuff yet or tax stuff we haven't even touched that yet we're literally just still building the business and a lot of this can be done in a matter of weeks I'm not talking months here honestly if you sit down and you go through and you develop your idea you do your market research you build your business plan if you're doing all these things that can take you a span of a week and then you can get into everything else over the next couple of weeks by providing value to people but the key here again is consistency so in your operation strategy in your marketing strategy you should have put something in there how many videos you're gonna post or you know where is your niche a lot of homeowners hang out on next door they hang out on local you know Facebook pages for their town or their community that's where they hang out do you figure out where they hang out so if you're a plumber homeowners hang out on Facebook they hang out on next door they hang out and can on community pages how do you take your business and put it in front of them and by putting your business in front of them which I said earlier is by providing value you're not just putting a business ad in front of them you're providing value and putting the value in front of them you are not asking them for anything yet and yes I can get to marketing all day you should build an email list you should start a website and have them go to your website and send it for your email list maybe you make some guides and things for them or maybe you send them things that are on social media or maybe you send them things that you're gonna post on social media but they get it ahead of time little things like that you're providing value you're networking you're putting your name out there and yes you can make a logo and you can do all those other things branding is important so if you wanna pair this networking and marketing um with branding which is good idea so people get familiarized with your logo and they recognize it it's something that they trust at that point sure if you wanna start branding absolutely go for it but when you start branding you need to determine whether or not you need to protect yourself do you need to file a trademark do you need to file a copyright you need to do any of those things to protect your business that right now would be the time to figure that out again these are questions that are also asking your business plan I only touch on a couple of things in a business plan but patenting and all those other things are gonna be a part of your business plan you know do you need that if you do now's the time right as you're networking or before you network now's the time to do all of that stuff so you have that Protection you have that branding that logo that slogan and all that other stuff ahead of time part of that is also gonna be like your website website is a big part of branding and marketing so that's gonna go in there as well up until now you have developed a phenomenal foundation for your business and this is important because a lot of the videos out there a lot of the articles that are out there a lot of the things that I have read and I have watched tell you about how to generate a ton of money but you're like throwing money at nothing there's no structure there there's no foundation so you're just throwing your money into the ocean for no fucking reason so this is how you build a foundation this is when you throw your money your money is lending into the bank or into a big old pot of money it's not going into the ether so now is when we decide if we want to file an LLC if you've gone up to this point and you're in a you're an industry that requires a license before you can start working like plumbing like contracting well in the city California you can do contracting work of no more than $500 before you required to have a license and insurance and all that other stuff so for you you have to file an LLC right now you have to do these things you might have to do these things before you even start networking and that's the caveat to this framework but let's see your an Etsy store when you're ready to file your LLC based on what you planned and your business plan which was when I start making $750 I can introduce two products but I can also file my LLC because now I can afford to pay the taxes now is when you do that now is when you file your LLC I highly recommend you look at when taxes are due so if they are due calendar year wait until January 1st to file your LLC if they're pro rated so if you file in the middle of the year so you file in June then you only have to pay 6 months worth of taxes cool figure that out on your state most dates are calendar year they want their taxes by December 31st stream lines everything so for me I'm like why would I start my business in July and solve to pay a full year worth of taxes even though I wasn't in business the first you know seven months now is the time to figure that out and now is the time to file your LLC if you've worked that into your business plan if not if it's already required and you've already done that then you you know you're good you've checked the step off and again if you were going to a business that is high risk high liability now you file your LLC before you start doing any of those those things because you wanna protect yourself you wanna make sure that your assets are protected things that you've built up until now are protected and last but not least is growth so these things should be done these decisions should be made within the first year if your business is not growing if your marketing is not working if you're not getting clients you need to go back to the drawing board I have a ton of videos on this I have a ton of articles on this on my website I also have books that have written that talk about how to go back and analyze everything that you do you should be collecting metrics so when you actually start your business you should be understanding your metric so if you've identified middle aged white dudes in a rich neighborhood who have Phds or college diplomas or rich daddies if you've determined that that is your target audience when you put your marketing out there when you put your social media post up there is that who you're reaching if not then you need to go back to the drawing board and I'll give you an example when I started my my fitness company I primarily worked with women mostly because when I when I personally went out there to go find a personal trainer I found a bunch of college bros who had no formal education in the physical fitness industry I had a wild extensive background in medicine which is different than physical fitness 100% but I couldn't find anybody who prioritize what I was prioritizing which was stress management sleep and nutrition everybody out there wanted me just to hit the iron they want me just in the gym I couldn't find anybody who matched my priorities and when I talked to other people I did my market research and idea validation I realized there were a lot of other women in that boat so I went to my personal training certification I had a bunch of science degrees and degrees in medicine and overall health nutrition so I started fitness business my advertisement was me working out was you know I did a photo shoot with females in my apparel with collected branding in the beginning again I didn't do everything in order because I follow the internet so I made some mistakes but what I found was when I looked at the analytics of my social media post and eventually my ad span I look to see who I was reaching I found out that majority of people will be on my post won't dudes why just have naked chicks all the time on my post right I'm not really appealing to the female demographic these were very hard dark images right dark gym lifting iron getting the pump that is straight up again appeal to dudes mostly

00 in the afternoon and pump iron until my chest is positively sick um I found out like 60% of the viewers that were engaging with my post were men so I had to go back to the drawing board there's tons of things you can do you can have split you can there's tons of ways to test your marking but what I found was when I kind of went with a little bit of a softer approach um and not so like military right angle saluting sort of like um hardcore fitness stuff um it started to appeal to women I was able to pivot and I was able to actually get my target audience who was who I built my business around was helping women like me who wanted to prioritize stress management sleep and nutrition which has now become more of a priority these days but I've been in the game for 10 for for 10 years and I've had this business for five so you know I'm still standing but what I found was that I was not hitting my knees and because of that my business was suffering so I had to go back to the drawing board to figure out how to adjust things so technically this is when I built my business plan this is when I understood kind of the competition that was out there how I can make myself more unique and how I can get my target audience again the first two businesses that I started were serious lessons Learned because I went off of what I thought I was supposed to do but now I have the actual like boots on ground blood sweat and tears time to figure out like what was on the internet was right but it was not in the right order this to me is the this is the better order in which you should do things okay the last thing I'm gonna talk about is taxes so I'm not gonna get too much into detail with taxes but basically there are a ton of benefits of having an LLC and starting a business when it comes to tax breaks and be you know their pass through taxation they provide a way for you you know if you're working if you have a full time job and you have a business on the side it's awesome tax breaks then because a lot of the tax breaks that you get are overarching tax breaks they're tax breaks for you and your total income to include that income that you're getting from your 9 to 5 there are a lot of benefits so when you are weighing when you were trying to figure out whether you want to start an LLC now or later be a so proprietor I say file your LLC as soon as possible and the whole like escort thing um and C court thing those are ways to file they're not business structures and in my opinion you at least in California you shouldn't even be considering an escort until you're making at least $40,000 in profit per year because there are a lot of things that you have to pay it's a higher cost to have an Escorp to file those sorts of taxes with a tax breaks are awesome but the tax breaks don't get awesome until you're at least making 40 k in profits until then having an escorp is just kind of pointless it's not really designed for the startup whereas an LLC that structure that individual business model is more so what's gonna benefit you right now we start bringing in money you consider escorps and obviously C corpse more of a corporation thing and that's at the topic for another day so I hope that makes sense I hope this framework makes sense I went through it really quickly again I have a ton of information on my website free information I also have two books that I wrote so that's also out there should you want kind of a more in depth guide now the book is also available for e download if you just want it on your phone you can buy it from Amazon um those things exist I think this framework makes more sense if you have any questions or comments feel free to leave them in the comments I'll answer them I'll go through and answer as many questions as I can and I just wanna say I'm not shooting from the hip here I have a masters and a doctor in business I own several businesses this is not just someone coming to you with a college education thing I know how I know how to start a business it's I've done it I've done it several times I've sold a few businesses along the way this is the best way to do things yes hey guys I wanted to interrupt this video real quick and remind you that my free guide Wellness Wisdom and warfare a Veteran's Guide for Mastering Life is now available for download using the link in the description or if you go to my website jesseburg com slash free guide or it's under the podcast tab you can download it for absolutely free it's over 60 pages of just tips and tricks and things to help my veterans out there master their health master their fitness master their mental and spiritual health just things that I've Learned through my journey as just a veteran and that I've Learned as an educator and as a professional in multiple fields as an entrepreneur I put all these things in one place and I put it together for absolutely free so again link is in the description or if you head to my website Jesse Verga com you can download it for absolutely free women in business for about six years at this point but my business is still going we made it through Covid and I'm making a ton of money from it so take what you can from this video if you have any questions again let me know in the comments