Building my company — what I’ve learned (so far)

My new LLC is now just a little over a month old, but in this short time, things have started moving! I had already been working with one client; this particular client was what prompted me to start my LLC in the first place. This morning, I reached a verbal agreement with a second client! While I’ll stop short of saying that my job hunt is over — I haven’t yet declared it as such — this particular client has enough work for me to keep me busy for a while. It might be enough to sustain me so that I can keep food on my table and a roof over my head (and maybe even more). There might be something to this self-employment thing after all!

That said, this is all still new territory for me. When it comes to owning and running my own business, I’m still getting my feet wet. I’m still tinkering with my website. I spent some time on the phone today with my bank where I’m still trying to establish my business account. There were some issues with my application, but they appear to be resolved, and my new account should be active within a few days. I also created a new Facebook page for my business; you can check it out here! (This article, by the way, will be the first ‘blog post to appear on my new page!) I also finalized newspaper publications for my LLC; it turns out that New York — my home state — is one of three states that requires an LLC to post a legal notice in its home newspapers. The law says that I need to place the notice in two papers — one daily and one weekly — that service my home county. They need to appear for six weeks — after which I need to file another piece of paperwork called a Certificate of Publication.

Let me go back to the bank account and mention one of my issues for a moment. I had been told that, if I’m a single-person LLC with no other employees, I can use my own social security number for tax purposes, which is true. However, the bank still requires an Employer Identification Number (EIN). The bank was kind enough to supply me with a link where I could easily apply for and obtain an EIN in a few minutes.

Several weeks ago, if you’d told me that I was going to start my own business, I would have laughed at you. At the time, I said that I didn’t know the first thing about starting my own business. Yet here I am, doing it! I’ve said before that getting ahead means stepping out out of your comfort zone. I still have a lot to learn, but in the past month, I’ve learned quite a bit. While I’m not yet ready to declare my job hunt over, I’m seeing enough happen with my new business to think that I might be able to make this work!

Stay tuned!

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