Ease into your First Entrepreneurial Venture
By: Adam Pollack
Many people that own and operate their own profitable small businesses today don’t necessarily have an MBA or any formal business education to speak of, and that is perfectly ok. In some cases, having the drive, great idea and audacity to venture out and start something on their own can supersede those armed with business degrees and sizeable start-up capital.
Unfortunately, whatever educational background you may have, many small businesses never become successful and end up folding. It may take several attempts and ideas until you are lucky enough to establish something profitable. The first business you start may not be the one that eventually brings you success.
A good way to begin your entrepreneurial endeavor is to register a DBA (doing business as). This can be done in the appropriate county or state office, or online with a service such as LegalZoom for a little over $100. Registering a DBA allows you to conduct business under a fictitious name. For example, Joan Smith can now do business as “Springfield Landscaping Service”. The DBA or fictitious name would be “Springfield Landscaping Service” and Joan can now cash checks written out to that name, open a business bank account under that name and establish legitimacy for her business.
If you are unsure about your business direction, plan and/or acumen, you might want to ease into your venture. Take baby steps. Dip your toes before diving in. Start with a DBA and then take it from there.