When you think of starting your own web marketing business… You may imagine having an office with rows of web designers and developers producing Websites while you sit back and collect tons of cash.
That’s a great dream to have but for now, the office will be a desk in your spare bedroom or wherever you have some privacy.
The rows of designers are just you and your computer since you will be doing most of the work on your own in the beginning.
Starting a business involves much more than just saying, “I want to be my own boss.”
There are legal requirements, forms, permits, licenses, and fees to
pay. But before you take on the paperwork, you need to decide what it is you really want from a business.
Take some time to think carefully about your new venture and how you will define “success.”
This will determine the amount of time you can put in at home, how hard you will have to work and any other personal factors that might influence your business decisions… What do you really want?
• Are you looking to make a little extra money from your Web Marketing hobby?
• Do you want to generate income in your spare time?
• Would you like to work in the evenings to supplement the income from your present job?
• Do you want to build a business that will let you work at home, full time?
• Are you planning on becoming a major force in the Web Marketing Industry?
The answer to these questions will determine the direction you will take in starting your business.
Take some time to talk it over with someone you trust or a few people. Don’t skip or rush this exercise. Be open with your ideas.
What may seem like a good goal to you may not sound so great if you hear another person’s perspective.
And remember the clearer your goals are the strong your building foundations will be. Let’s choose your business structure.
Your Business Structure
First of all, let’s talk about why you need to choose a business structure. You do not have to this right away but I strongly recommend that you choose a business structure as soon as you get your first client.
Most of your clients will be business people and in my experience, they like to do business with other businesses. Just having some kind of business name on a document can make you seem more official to them.
With a registered business you can
• Open bank account
• Write checks
• Pay taxes
• Generate income
• Distribute profits
Check with your local Chamber of Commerce to find out what type of businesses are available to you since each country has its own set of rules and regulations.
These rules can even vary from one place to another within a given country.
The three common basic legal business structures are
• Sole Proprietorships
Each structure is different from the others and each has its own set of
requirements, advantages, and disadvantages.
If you are unsure which one to choose, go with a sole proprietorship, that’s the one I use and I haven’t had any problems thus far.