OBJECTIVES

In this class you will learn:

• Types of startups, from the simple one-person business to the sophisticated high-tech startup financed by venture capital, with a lot in between.
• Choosing a business name, and how to own the name.
• Basic legal entities: corporations, LLCs, sole proprietorship and fictitious business name and “doing business as” (DBA).
• The business location: home office, retail store, business offices, and so on.
• What’s a business plan, and why is it useful?

OVERVIEW

With the business concept decided, how do you want to set up your business? These decisions are the nuts and bolts of building your business foundation:

• What is the best legal structure for your business? What are the costs? Which one makes the most sense for your business?
• Will you have a partner? If so, what will the tax implications be for both of you?
• Is your business name already being used by someone else? How can you find out?
• Do you need a storefront location to reach your customers?

DEFINITION

• 3 Weeks to Startup, Chapter 2, Need to Know, pages 21-23
• 3 Weeks to Startup, Chapter 4, Make it Legal
• 3 Weeks to Startup, Chapter 17, Paying Taxes

(Optional Reading)

• Just Getting Going, Building, or Planning to Fly (web only)
• Nice Summary excerpt of book on business structure
• You Need a Lawyer, blog post (Tim Berry)
• True Story: the Name Game Disaster, blog post (Tim Berry)

Nice summary, an excerpt of a book on business structure.

Nice summary, an excerpt of a book on business structure.

Joanna Van Vleck, once a student in this class, now has a very successful business based in Bend with locations in Portland, Dallas, Seattle, and virtually all over the web (The Trunk Club). She’s going to talk about how she did it, what she learned along the way, good and bad surprises.

For background, look up www.thetrunkclub.com.

And you can do the google search on the Trunk Club.