Help Me With Sign Illinois Banking Document

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hello and welcome to digital auto pros we're here to talk about one thing I've had a lot of people asked me recently how do you start a business I just need the first steps I don't really know what it takes I don't know what that looks like I'm here to tell you you can do everything right now on your own it's not that difficult you can do it you've got this step one business step two banking step three branding those are the three core steps I'm going to walk through today but I'm really excited to show you really excited to get started all right so we're gonna do this one really quickly I'm gonna give you just the high-level links and the actual pieces that you need to do it so you can go out there and they have everything you need to make sure you have those next steps cool you ready let's do it [Music] [Applause] [Music] okay so today I'm gonna draw a little bit because I like drawing I think it's recording it helps us visualize what we're about to do what we're looking for here so like we talked about there's going to be three steps we're going to review today and the first one one so three steps and those three are the business side we've got the banking side right and then we've got the branding now technically these come in a certain order but branding he can come first and then business and banking come second this really just depends on what you're looking to do with your branding and how you are currently making money or would like to make money these two are very very important obviously because of taxes and regulations you don't want to end up getting penalized because you do so well and your branding you make so much money and then something goes wrong here so I have a pretty cool method where I try to do these two kind of all three up front but it's mostly business and branding first and then I add banking in and then I kind of tie those together so let me explain how that works with business the things you need to start this is your absolute must-have neat twos is going to be an LLC or an S corp so your choice on e but if you're a solo entrepreneur and you're just starting you have that idea you've got that passion you want to figure out how to do it you're gonna be looking LLC now why an LLC well an S corp is going to be more of an actual corporation after the first two years I would consider going into an S corp this is after you you're gonna have a lawyer at this point you're gonna be talking to them but there are a few tax benefits to be giving LLC up front there's also something called a sole proprietor the reason why I do not recommend a sole proprietor is it doesn't keep you covered from you and your business so if your business gets sued technically you can be sued because you're a sole proprietor that's what happens when you get too far ahead on your branding and then all of a sudden your business and you're kind of a sole proprietor and then all of a sudden you get sued and your business and your and your home are now at large so have your LLC have your S corp depending on what you are if you are a non-profit that's an entirely different one a different piece this is something you want to talk to your lawyer about I just wanna really clarify that so we've got the LLC right and the second piece you need for business is an E and E i n is going to be your employer identification number sorry that's a little bit confusing E and that's an employer identification number so these two things this one costs $50 plus ten a year and then the ein is free okay and I'm going to show you both websites where you can get this in just a second so all I did was type in Colorado business LLC if you live in a different state I recommend doing it definitely obviously Illinois business LLC and you're going to see an advertisement you're gonna see another advertisement but then you're gonna come up to one that just says your SSOs state dots ego or your dot C or whatever state you live in so it's the Colorado Secretary of State I always click on this one because the Secretary of State's who you want there's a lot of other people but they're gonna charge you differently for it to end up having to pay thousands of dollars because this is truly an affordable very easy once someone just explains the guidelines to you I'm explaining the guidelines to you please please take advantage of this if you're trying to save a little bit of money a lot a bit of money okay so you've got this this search name availability and what you're going to want to do is you've got this business information here okay so that's where you want to go so you're gonna want to go right here if you see the Colorado Secretary of State business information and then you've also got Colorado Secretary of State file a form I choose to go to file a form business information will give you information about what you're looking for but file form is what you're gonna want to look for so I click on file form and you see right here limited liability company got all this stuff LLC's corporations partnerships so if you have a partnership that's what you're looking for and you really just come here this is your main resource this looks confusing it feels really confusing it's very scary trust me once you just jump into and just set some time aside and say I'm gonna do this for an hour I'm gonna read what's going on it becomes much more simple so you click on LLC and then now at this point you're gonna be typing in the name so we're gonna do this is a test that we're gonna go next now it's gonna ask for a bunch of things that's gonna ask for your address it's going to ask for your articles of organization what this means is it's kind of your business documents saying who's in charge of the company and the structure you're going to be using a lot of times I when I think about it I consider myself as the CEO and then anyone underneath that I kind of give them a title as they come in if you don't have anyone that's alright you just have a CEO at the moment and then start processing through having a board because eventually they're going to ask you for a board and you want those people that you really trust and that our mentors that understand your industry or understand that have a value to your business consider these two things because eventually somewhere else you write this down once it's written down on paper you can just have it make sure it's not actually something you need right at this very second it's not something they're going to check for but it is something they're going to ask if you have and you just want to check sign up look really what they're looking for is for you to establish your name and for you to establish your address and who you are with your social security number it's an important thing to add that your name for your company does not need to be the same as your name for your brand keeping News 2 separate like you'll see some people be the Holding Group where their actual businesses point being you can have a lot of businesses underneath a business and underneath that name so having this name does not need to be your main business name but whatever you do type in there it is exact and they don't mess around with that it's down to the spelling it's down to the all the different pieces so make sure that you keep does that name very very clear understandable and kind of business professional from a financial standpoint I think that's important it's going to ask who's appointed is it gonna be a business or is it gonna be a person if you're a sole entrepreneur it can be yourself if you are looking for some sort of business background you could have the business link into another business this is pretty advanced but just know it is possible for you to be able to run that ok getting too deep don't worry about it so as you see here it's gonna be SOS Colorado I'm gonna have this in a link as well so don't worry about that after you finish this it's going to ask you for your credit card it's going to give you your your business it's going to give you that LLC business identification this is important because when it gives you your business you're gonna have to go and you're gonna have to apply for an EIN what happens is you just go to one of these programs and I personally a lot of these do it for free some of them take a little bit longer but again I try to go to the IRS and here apply for a federal tax ID in Colorado and you can see with Google all I typed into US apply for an EIN number Colorado right so you come down here and boom again I'm going through this a lot it's kind of boring stuff it's a little bit technical but you can just come through here and just say apply now this looks like it's a third-party company I also like this one because it is IRS no tax and you can do sole proprietor or limited liability and boom you see that now it's asking me for your LLC name so this is what you just filled up you just created this LLC within your core estate secretary of state or the Secretary of State after you do this the trade names optional you don't need it the members in LLC is one you have an individual partnership cool so you can see this that tax is separate entity from owner all right or you can have it and you're planning on having a corporate tax structure so you do your business taxes a little bit different this is your choice at first like I said for the first two years I personally choose to do this if your lawyer or someone else tells you something differently a tax attorney please listen to that over me because this is really just a basics how do you start with business you put your owner and your members so remember asked for members how many members are involved this is what they're looking for it's gonna ask for that social security number your address and the reason for applying start a new business banking purposes etc etc and ask for these main guys because if you have any of these they might have some issues aka Alcohol Tobacco Firearms gambling etc etc and when you actually acquired your business this is based on when there's two different pieces to this there's one when you actually sign up for your secretary of state name and that's usually what I put there because you might be running a business before but if you're gonna back file taxes do it for as far as you back file if you're doing it just as a brand new business started the same day that you got your actual LLC name or your business name registered cool and look at that and then you got your VI n application and you get this back within an hour to two days it does not take a very long time you can have everything done literally in one day I've done it many many times with companies where I go to start it and it's done by the end of the day cool how's the fast little section I think I appreciate you guys walking through all the links like I said the main point though is with that business is you're gonna have your LLC it's $50 to apply and then plus $10 a year and that will give you what you look for in the e is going to be free so the next piece is banking in order for banking to work they ask for two different things you need your LLC you need and technically it's three things because they're going to need your information Durbin and I personally a checking account and the city once account because I think it's good to have that savings account in there if you can't get a checking account because your friends too bad that's okay don't worry about it just get that savings account a lot of times they'll give you a business a business card that will apply for that so if you don't have a personal checking account what's really cool about starting our businesses if your credit is just absolutely terrible you can come in start a business and it will allow you to get a lot of those benefits of having your credit be a business credit instead of your credit itself now again this is there's a lot of tech stuff that goes into this but it is something if you have a real business and you're really doing this allow the system to work with you not against you once you have your LLC in the ein which I said takes one to two days all right you can get your banking set up really the next day and you have a credit card within one to two days so this is really cool if you're worried about the business having your home address one thing sometimes people add is a Pio box a p.o box can be anywhere from 25 to 44 three months right so you've got now you understand their business you've got your banking and now I want to talk about branding branding is a whole other piece because branding it really comes down to your company name right so you need your company name you need to understand what you do you lose your company name you need a logo you need products you need sales material and marketing material right so all these things are necessary but making all of these things happen there's really expensive and takes a lot a lot a lot a lot a lot years and years and years and years of stuff to do what I personally recommend as I have created a really awesome course giving you the branding how to choose a company name or a personal brand name how to build your logo how to create your own digital products how to create the sales material behind it and how to create a marketing online platform so the main piece is you have to have a brand in order for your businesses to see how do you people see that you're credible do you have a website do you have that logo do you have your business cards there's some really key individual pieces that when you're just starting a business this is the stuff that allows you to start opening doors and allows you to start getting those connections that you didn't even know we're there so I'm really glad that you're asking that's what digital line approach does that we give information on how to start businesses how to build awesome brands that are really credible powerful and allow your idea your passion or whatever you really really want to get done in this world to have an impact and have a voice and how cool is it that you can have a voice that touches millions and millions if not billions of people in 2018 I'm pretty stoked about it and I'm really really stoked for you to check some of this stuff out I think it's pretty cool and I will leave links and everything in the bottom of this for now I appreciate you being here and I hope that you enjoy starting a new business follow along if you're confused or would like some more stuff about plenty of steps on how to I'm really stoked you just tuck has now seen how literally business banking and branding can get you everything you want to have your business started up and running and I'm telling you we've got everything you need right here to be able to do it I highly recommend you check out the branding course how do you recommend you take a look at this get your LLC started get your EIN started you are enough you can do this I'm telling you it doesn't even think you could do this literally less than 50 bucks and it is ready in no time cool I hope this helps my name is Dan brew you can follow me at digital auto pros or at I am de abreu thanks so much I look forward to seeing you on the next video see you guys [Applause] [Music]