No one likes to feel stack, especially by your cloud, but the IBM cloud is the most open and secure public cloud for business. It can manage all your absent data anywhere. Smart loves problems, IBM, let's put smart to work, visit, IBM dot com, last flexible work, the side school. My name is critical about a very practical question. Before. You today actually get a lot of questions on this topic that I can't answer, because I'm not qualify dont. Give legal advice can necessarily talk about the best business structure, attack structure for your business, the decision to pursue a patent process or not how to plant protection and so on, but it's it's tricky because a lot of people want to know you know, should I form formally LLC or an escort or something else or just remain, as a saw proprietor makes perfect sense that people have these questions. So I like the way this listener frame. The question

easy for me because he's asking for more general advice about best practices, experiences based on many conversations. How might someone make this decision? So it's not so much to know what is best for him, but how does someone make a decision, and perhaps this can help someone else move forward if they're feeling stuck all right? So when should I become an LLC in this guy's case filing an LLC in his state is expensive? Is it worth it and how does someone make vision. Let's talk about transfer wise, the smartest way to send and receive money internationally, if you had to move money across borders chances are. You are haunted by hidden fees, whether you use bank or another provider. They likely hidden extra fee in the exchange rate and you pay too much and if you didn't notice. Well, that's the whole point, but transfer wise is different,

you always get the real right when you send over seventy countries or when you convert currencies using their multi currency account, you pay one super low fee and keep more of your money. Over six million customers are already saving with transfer wise. Try them today, get your first transfer free. I visiting transfer wise dot com, slash podcast hi? This is Thomas from Syracuse and I've been listening to the show for about a year or so, and I really like this new format, I'm curious about your thoughts on when do incorporated business. Do you think it's better to do run or after getting a certain amount of clients revenue? My gut feeling has been to the violent LLC first to keep everything organise an official

but finally- and I will see in my state- is pretty expensive, so I've been having some hesitation on that is their common process. You ve noticed from speaking with side hussars over a year. They express pathos was out. Thank you so much posting and Syracuse. They like to know your at their best of luck with a new project. So, as I said, the introduction I dont give legal advice. I can't basically but another way you friend a question because you lobby to give them some advice. It might actually be helpful to someone There are no, I understand why people have this question so perhaps just a couple of common experiences like thinking of it that way You can do a lot of things as a sole proprietor like first and foremost, I would say looking it. You know the history of our archives and not just that, but many many other people I've talked to over the years featured in my books and different case studies. I would say majority

those stories, not like a ninety percent majority, but at least fifty percent either start as a cell proprietorship. Or start and remain as that structure for a long time show, you really can do a lot of things, not structure. You can register with the state and get a business bank account. You can get a business credit card, there's not a lot of distinction in terms your clients, your custom. Your process. Any of that, and also remember the most important thing always always like this is the you know. I guess I would say the most important thing how that works. Focus on how you actually make money. That is essential, because sometimes people get hung up on this stuff for so long and then I actually have a revenue model, and you know you can usually incorporate later. You can even unincorporated if you feel like you did the other way. You want to make a different change but you have, if you have no revenue model, you don't have a business location, worry about that first and foremost. Now. Having said that,

I use that word worry again. If you are worried about this or if it is your gut instincts, just just pay the money because now Actually that much money, it's only a lot if you're working with a lawyer to do it under a lot of service now legal zoom is probably the most common one. I believe that they have been a sponsor of the pact cast in the past, but they're kind of ubiquitous, I'm sure, there's some other service You might be able to just kind of you it on your own. Just Google, you know Pile LLC, New York file, LLC Wisconsin, whatever it is So it may be a few hundred dollars which is not cheap, but it's also not the end of the world. Tough. If there's a stumbling block is holding back just find a way around that do whatever is best for you and you may at some point when you get some advice from someone who is more qualified than me, but again noted some common experiences and you can do a lot as assault proprietor. Just

My experience and many other peoples as well alright I'll listeners if you're gonna question whether its specific one or a general one just come methodical school dotcom such questions we have between them throughout the year along with updates mother listeners. Thank you again so much Thomas and thank you listeners. So glad you out there much more is coming up. My name is critical about. This is Sicel school. From the onward projects.