Start a Web Business Fast (But Do It Right)
I get asked this question a lot:
What is the easiest and quickest way to start a web business?
The answer really depends on a lot of things.
For many purposes, it is pretty easy to actually launch a website. If you are publishing mostly content (text, photos and videos), then a simple WordPress theme will likely suffice. If you are going to be selling anything, you may need to look at an e-commerce solution like Shopify. Or for more complex applications, you might look to hire a professional web designer and/or developer.
The real issues revolve around the business side of the question. Is this just a personal hobby you are trying out, or are you serious about starting a business? If the latter is the case, you will want to spend time reviewing the different types of business entities. There are a lot of options, and trying to figure out what is best for you can be challenging.
Different Business Structures
Incorporation
C-Corporation
S-Corporation
Professional Corporation
Non-Profit Corporation
LLC Limited Liability Company
Professional Limited Liability Company
LLP Limited Liability Partnership
Sole Proprietorship
General Partnership
LP Limited Partnership
My advice is to seek out an expert like MyCorporation to answer your questions and help you decide. Note: I have not used them personally, but several friends have. There are many other online services, or you can meet with a local lawyer or accounting firm that advises startups.
I have started both an S-Corporation and an LLC and there are pluses and minuses to every business entity. For many reasons, you should not just operate a business as “yourself” (unless you’re set up a legitimate sole proprietorship) as there are plenty more risks associated with that. Not to mention, various business types may benefit you with certain tax advantages.
The best structure for you will also depend on the type of business you have and where you are located. You may consider meeting with your local Chamber of Commerce, tax department or Small Business Administration (SBA) office.
The main thing is to not simply rush out and launch a website; carefully consider what type of business you are going to operate. Get this structure in place early on, not after the fact. This is crucial for ensuring you are not caught later with tax liabilities that could not only threaten you financially but could get you fined or put out of business.
Photo credit: Dierken
