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HOW TO OFFICIALLY “START” A BUSINESS

Step 1: File an Articles of Organization with your state

(If needed) Register as an Agent with your State (free)
Do a quick business name search (in State) for conflicting names
Wise to also search the US Trademark Office:
“Register a Business” or file “Articles of Organization for a Limited Liability Company”

Step 1: COMPLETE!

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HOW TO OFFICIALLY “START” A BUSINESS

Step 2: Get an Employer Identification Number (EIN)

Once you have your Articles of Organization, you need to get an Employer Identification Number (EIN) - this is like a social security number for businesses
Correct Government Website
“Apply Online Now” and answer the questions - it’s easy, FREE, and fast (don’t overthink or stress out about the questions - just answer them to the best of your abilities)

Step 2: COMPLETE!

HOW TO OFFICIALLY “START” A BUSINESS

Step 3: Open a Business Bank Account

All you need for a business bank account is you Articles of Organization, EIN, personal identification, and occasionally an Operating Agreement (usually only if partners)
If you need an Operating Agreement, you can use Legal Templates and fill this out. (An Operating Agreement answers simple questions about ownership percentages, initial personal investment, etc. Again - don’t overthink it. Answer to the best of your abilities.)

Step 3: COMPLETE!

HOW TO OFFICIALLY “START” A BUSINESS

And then… Begin Using Business Bank Account for all Business revenue and expenses.

All coaching revenue should be deposited into your business checking account (checks, ACH, paypal, venmo, cash app, etc)
All coaching and business related expenses should be spent from the business bank account (tax free - these expenses come right off your income so that you don’t pay taxes on that income)

Equipment, travel, milage, even a car used specifically for business, laptop for online coaching, internet, business meals (50% tax free), marketing expenses, - and if you have a home gym/ home office that square footage is tax deductible each year for things like utilities, and renovations.

If you are a sole proprietor you may pay yourself anything you want out of the business bank account (best practice is to write a check with “Payroll” in the memo line for easier accounting)

THE BUSINESS OF ONLINE COACHING

Why I Love TurnKey Coach

In the first 5 min of signing up for TurnKey Coach, you’ll have your own Stripe account that allows for seamless integrated payment collection so that you can start charging clients for your coaching services today. (signing up for a new payment processing account is often a bit scary - TKC takes all the pain out of the process)
Just a few min after that, you can set up all your coaching plans, and a very clean, simple landing page (that you can share on all of your social media accounts) and start signing up clients right away.
TKC never holds that money - it gets directly deposited into your business bank account (that you just set up) within a business day or two.
TKC also makes no money off of processing fees - the only processing fees you pay are the very nominal rates that Stripe charges.
TurnKey Coach is the the best way to start your online coaching business, taking a ton of the business management off your hands; so that you can be free to do what you love: simply coach, growing your pay to $150/hr and more, all WHILE improving service to your clients.
To learn more about TurnKey Coach and be invited as an early user, visit TurnKey dot Coach to schedule a demo call. That’s TurnKey dot Coach to schedule a demo call with me, today.

HOW TO OFFICIALLY “START” A BUSINESS

Next Steps:

Systems are nothing more than very clear, detailed checklists of orders of operations for a task; (E-Myth Revisited)