There’s no business like show business, but there are several businesses like accounting.
I would need to take off my shoes (and that might not even be enough) to count the number of times that I have had this conversation with people who ask me for business advice:
Me: Have you started your business?
Them: I formed a LLC!
The only folks who win when you form a LLC without a real business behind it are lawyers and the state where you filed.
Forming a LLC doesn’t mean you have a business.
It means that you have a legal entity that could conduct business.
The advice about forming a legal entity, getting a bank account, etc. are backwards.
Go get customers.
Get them to pay you for something, a service or a product.
THEN do the legal stuff.
Until then, you don’t have a business.
When you have customers and revenue, you have a business.
Before that point, you have a pipe dream.
Want to know more? Check out my interview with my former corporate counsel and M&A attorney, Patrick Asplin.