{"id":5105,"date":"2023-03-22T19:14:47","date_gmt":"2023-03-22T18:14:47","guid":{"rendered":"https:\/\/futuramo.com\/blog\/?p=5105"},"modified":"2023-03-22T19:25:29","modified_gmt":"2023-03-22T18:25:29","slug":"starting-a-business-remember-these-5-essentials","status":"publish","type":"post","link":"https:\/\/futuramo.com\/blog\/starting-a-business-remember-these-5-essentials\/","title":{"rendered":"Starting a Business? Remember These 5 Essentials"},"content":{"rendered":"\n

Starting a new business? This is a time full of excitement, hard work, and big dreams. As an entrepreneur, you\u2019re likely a big-picture thinker who can see a vast horizon of possibilities and opportunities \u2014 but what about the small, easy-to-miss details and common mistakes people make in business?<\/p>\n\n\n\n

We\u2019re here to remind you that amidst all the eagerness and anticipation, it\u2019s important to remember all the essentials. Read on for five things entrepreneurs need to know that often get overlooked when getting projects off the ground. <\/p>\n\n\n\n

1. Appoint a Registered Agent<\/h2>\n\n\n\n

Every official business entity is required to have a registered agent in every state it does business. A registered agent is a designated person who is always available to receive official government correspondence, including annual report forms, tax forms, notices of litigation, and more. <\/p>\n\n\n\n

You may choose to be your business\u2019s own registered agent if you\u2019re over the age of 18 and have a street address in the same state as your business. You may also choose another member of your business or even a trusted friend or family member, as long as they meet the requirements. But remember that whoever acts as your Registered Agent will have their personal information on public record, which you may want to avoid. And they have to be available at a physical street address during normal business hours, Monday through Friday, which can prove difficult if you need to travel or often work from different locations.<\/p>\n\n\n\n

There are many registered agent services<\/a> that will take care of everything on your behalf. They\u2019ll forward you every correspondence they receive so you can focus on running your business.<\/p>\n\n\n\n

If your registered agent ever needs to change \u2014 for example, if your current one moves to a different state that your business doesn\u2019t operate in \u2014 you\u2019ll need to file a Change of Registered Agent form with the state. This usually comes with a filing fee. For minimal hassle, try choosing a registered agent that has no plans to relocate, or use a service to guarantee a registered agent at all times.<\/p>\n\n\n\n

2. Consider a Virtual Address for Privacy<\/h2>\n\n\n\n

The U.S. Secretary of State requires an official business address to be listed when registering a business. If your company doesn\u2019t have a physical brick-and-mortar location, you may be wondering what to do.<\/p>\n\n\n\n

A virtual address protects your privacy by leaving your personal home address out of your business\u2019s registration details. A virtual address is a service that assigns you a real street address that receives, scans, and uploads all business-related mail to a secure portal you can access at any time from your phone or computer.<\/p>\n\n\n\n

Many entrepreneurs prefer the convenience of a virtual address<\/a> over a traditional P.O. box because they don\u2019t have to add a trip to the post office to their daily routines. The only downside is that a virtual address doesn\u2019t offer a physical access where you can receive physical packages. If that\u2019s something you\u2019ll need for your business, consider a large P.O. box option.<\/p>\n\n\n\n

3. Get All Official Agreements in Writing <\/h2>\n\n\n\n

We can\u2019t stress the importance of business contracts enough. They ensure that all parties are on the same page regarding work expectations, timelines, due dates, payment terms, exclusivity, and more. <\/p>\n\n\n\n

Without a written contract, you could leave your business vulnerable to people who\u2019d take advantage of your time, money, and intellectual property. You also wouldn\u2019t have any clear guidelines on how to resolve disputes, which could leave you in a tricky legal situation if things get messy.<\/p>\n\n\n\n

There are countless scenarios where a contract could be beneficial, but if your business plans on doing any of the following, a contract is a must:
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