A kind business… not in personality that is, but basically, what type of business? You might ponder over this for quite a bit, when first starting to organize your notes and thoughts.
So, can you actually answer this question? What kind of business are you because it entails much more than you might believe…
The three most common types of businesses that come to mind include, but of course, are not limited to the following:
- Sole proprietor
- Limited Liability Company (LLC)
- Partnership
Now, if you want to be the head honcho, aka the Chief Executive Officer (CEO). Then, a sole proprietor is the obvious choice for you. You could be your very own boss without having to worry about any other employees or business superiors to follow up with or answer to. It is literally just you, and only you!
However, if you want someone to share the responsibility with, then a partnership is the obvious choice. You can have someone who will share equal workloads, profits, debts and decisions related to the business. These are typically very common for practices that offer services such as accountants, dentists, doctors, etc.
Then, the third option is a LLC. This is a form of a private, limited company. It is a business structure that combines aspects of a partnership and sole proprietorship. This is a nice combination, if you are unsure of which one to pick.
Basically, it does not matter which way you ultimately choose to run your empire. However, if you need some help figuring out what kind of business you really want to be, then please feel free to contact us right HERE.
We’re more than happy to help you with all of your innovative ideas! In the meantime, please like us on FACEBOOK, then go and follow us on TWITTER.
