Learn How to Start a Business Fast

Complete guide to starting a business including all the legal, accounting, tax, and bookkeeping information you'll need!
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  • Lectures 34
  • Length 2 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 10/2015 English

Course Description

The course is for people that want to start a business.

I dive into the legal and accounting side of getting a business up and off the ground.

  • I'll walk you through the different types of entity options available, including c-corporations, s-corporations, and LLC's.
  • I'll explain the tax implications related to each entity option.
  • I'll also show you how to form an LLC on your own, how to apply for a federal tax identification number, how to setup your accounting software, how to organize your corporate record book, and how to get started with your bookkeeping.

In all, at the end of this course, you will be pretty much all set to make your first sale!

What are the requirements?

  • No prior knowledge or skill is required

What am I going to get from this course?

  • Learn how to form an LLC, file for a federal employer identification number, setup bookkeeping software, and compile corporate record book for a business

What is the target audience?

  • This course is for anyone looking to learn the legal and accounting side of starting a business, including entity formation, tax considerations, and bookkeeping basics. Individuals that have already formed and entity and have their books setup should not take this course
  • The entity formation portion of this course only covers the formations of entities in the United States of America. This course does not cover forming an entity outside the USA.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Start Here
03:20

Start here- an explanation of me and the content covered in the course.

Section 2: Choosing an Entity
04:44

An explanation of why you need to form an entity for your business- it is all about protecting your personal assets / wealth.

03:37

A basic explanation of corporations.

02:32

A basic explanation of limited liability companies (i.e. LLC's).

12:19

The reality is, very few entrepreneurs / business owners understand taxes or how their business pays taxes. Even less understand s-corporations and why structuring a business in this way may reduce their tax liability. I explain the basics and benefits here. If you are interested in learning more about the benefits of an s-corporation and whether it is right for your business then you should talk to your accountant.

03:02

This video explains why an LLC may be the better option for you and your business. If you're really interested in c-corporations, then talk to your accountant about the tax implications of c-corporations in more detail.

Section 3: Forming an LLC
03:46

This video talks about some things to consider when hiring an attorney to help you form a business.

12:05

This video shows you what you need to do in order to file an LLC on your own. Give it a shot if you're interested, but hiring an attorney is the best route. That said, I've provided links to the corporation's division in ALL 50 STATES. After watching the video, check out the document provided in the Resources tab for this video for your state in order to get started filing your articles of organization on your own.

Because I am an attorney I need to say this: if you are not comfortable taking the risk that is associated with creating an LLC on your own (i.e. the risk that you might do something wrong, miss a step, etc. resulting in you not having a valid entity), then you should hire an attorney to assist you in the process.

09:27

In this video I talk through some online formation services. I specifically show you how to use legalzoom- I'm not an affiliate and I don't endorse their service. It's just a cheap way to go through the formation process if you don't want to hire and attorney and you don't want to figure it out on your own. Incfile.com is also a good option (I'm not an affiliate). Either option is pretty simple to use and relatively straight forward.

Section 4: Organizing Your Corporate Record Book
01:27

Brief discussion of Articles of Organization

02:01

Brief discussion of an LLC Operating Agreement and why you need one for your business. Look at Resources section of this video to download the Sample Operating Agreement that I prepared for this course.

00:55

Brief discussion of Consent Resolution. Look at Resources section of this video to download the Sample Consent Resolution that I prepared for this course.

01:09

Explanation of how to compile your corporate record book.

Section 5: Tax ID, Bank Account, Bookkeeping, and More!
02:37

This video addresses what you'll need to open a bank account for your business

12:35

This video shows you how to apply for a federal tax identification number or EIN online in minutes

04:06

This video reviews some of the accounting software options that are available to you in your business

02:48

This video reviews some of the basic bookkeeping tasks that you need to know in order to get started tracking your business' transactions

02:23

This video provides a basic introduction to the Quickbooks accounting software (I'm not an affiliate) and how to setup your business' on this software

03:49

This video shows you how to enter an invoice in quickbooks

02:18

This video shows you how to receive payment from a customer on an invoice

04:10

This video shows you how to make a deposit of funds that you have received from your customer

03:04

This video shows you how to enter an expense for your business in quickbooks

01:02

Congrats! You are all done forming your business! We'll wrap up here :)

Section 6: BONUS: Deep Dive Into Operating Agreement and Consent Resolution
02:36

This video goes into detail explaining the Consent Resolution that I have linked to the course.

04:04

This lecture discusses Article I of the Operating Agreement I have linked to the course.

00:57

This lecture discusses Article II of the Operating Agreement I have linked to the course.

03:57

This lecture discusses Article III of the Operating Agreement I have linked to the course.

02:01

This lecture discusses Article IV of the Operating Agreement I have linked to the course.

01:46

This lecture discusses Article V of the Operating Agreement I have linked to the course.

01:19

This lecture discusses Article VI of the Operating Agreement I have linked to the course.

01:51

This lecture discusses Article VII of the Operating Agreement I have linked to the course.

02:00

This lecture discusses Article VIII of the Operating Agreement I have linked to the course.

01:13

This lecture discusses Article IX of the Operating Agreement I have linked to the course.

01:30

This lecture discusses Article X of the Operating Agreement I have linked to the course.

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Instructor Biography

Scott Brookens, Attorney / Entrepreneur

I'm a business law attorney and I help entrepreneurs start businesses. Before I became an attorney, I managed two small businesses from the initial startup phase through a fast-paced growth stage. It was a wild ride where I discovered a true love for all things business!

Additionally, I come from a family of business owners. My parents purchased a small business when I was young and they still own it to this day. While I was growing up, I worked for them and had the opportunity to see first hand the challenges and rewards that come with choosing the path of entrepreneurship. Now, I have the privilege of being their attorney and walking with them in a different way as they continue to grow their business.

Given my entrepreneurship background and legal expertise, I understand both the technical side of getting a business off the ground and I appreciate the risk and challenges that entrepreneurs must go through each day to keep their businesses up and running. All said, I love business and I love helping people start their own entrepreneurial journeys!

Lastly, but most importantly, I am a husband to an amazing wife and a father to two amazing children. My family is what drives me forward and keeps me going each day. I could not do what I do without their support every step of the way!

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