This is the first part of a series of videos that will explain in detail How To Stat A Business. I will be taking a trip into the world of starting a business from beginning to the en, and the end being actually getting funding for the business.
In this first part, I will start with letting you know that even though you may have dreams about a idea or product that you think is going to sell millions, you may want to start out with opening up a business that, is fund-able, and when I say fund-able, I mean A business that creditors will want to give financing or credit to. This is a very important stage, because this can make or break a company.
Do you know what an SIC Code is? Most people don't. An SIC code is a six digit code that breaks down the kind of business you are in. If you are looking to stop using your personal credit to run your business and fund your ideas, this code needs to be one that is considered fund-able. This code can make or break a company that is depending on getting financing or credit. With the wrong SIC code you can be denied credit based on your business solely and will have to depend on your personal credit. In The Come-Up Compilation Ebook, there is a list of the Top 10 SIC Codes to use, when one of the companies main goal is to acquire funding. Just to put it out there, A company that I have always had my eye on is a cell phone store, see the cellular industry is a great industry to get into; its not going anywhere right now, and not only that you can offer other services that will help bring you more revenue such as cell phone repair, and Computer repair.
After this point I would choose 3 names I want for my business and head to my states website to do A Business Entity Search. After in-putting the names in the Entity search and none of them comes up; I can choose my name that I want out of those 3. Now I would start looking for the certificate or articles of Incorporation to fill out. There is a video and post on How To Incorporate A Business Or Corporation, at www.itsmapps.com or www.itsmapps.blogpost.com, stay tuned for the other videos, give your comments and questions.
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The Come-Up Compilation Ebook
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