Savor the Success - Business Network for women entrepreneurs

As you probably know, I’ve been doing the Phenomenal Year workshop.  I’m enjoying it.  It’s really helped to give me some ideas of how to increase business and I’m pretty sure it’s got me on the right road. (At least I hope so...)

Along those lines, I’m taking Angela’s suggestions about making my blog posts here more...well... helpful. 

As I said in an earlier post, I’ve decided to write a series of SHORT e-books (10-15 pages each) on legal topics.  I’m going to call the series the “Why The Heck Should I Do That?” book series.

I think that a lot of people do things because they’ve “heard” that it’s a good idea or they’ve been told that lots of other people do it.  It irritates me to no end. 

I’ll give you an example from my first book (which I plan to have completed by Monday (fingers crossed)), “Why The Heck Should I Do That:  Organize My Company in Delaware or Nevada.” 

I can’t tell you the number of times that people come to me and say, “I want to form as a Delaware Corporation.” 

I always have to ask a simple question.  “Why?”

Their answer (more often than not):  Silence.

I have NEVER met anyone who’s been able to give me a reasonable answer as to why they want to do that.  If they have an answer at all, they either tell me that someone told them to do it or they heard that it’s a good idea, but they don’t know why.  No, really...it drives me bananas.

Shouldn’t that be important?  Don’t you want to know why you should do what’s important for your business?  Seriously, it’s really important to understand why you need to do certain things for your business.  It’s part of being a smart businessperson.

Now, I’m not saying that you should never organize in those states.  There are companies for whom it makes perfectly good sense to organize there, but it’s not right for most companies.  In fact, it’s a really expensive mistake to make as an entrepreneur starting out. 

Don’t believe me?  I’ll give you an example.  Let’s say you’re running a company in New York State. 

Keep in mind that you’re allowed to register in any state that you like. 

If you register in Delaware, it costs about $90.00 to file your company as a corporation.  Perfect, right?  Ah ah ah, not so fast. 

If you’re doing business in the State of New York, you’ve got to register as a Foreign Corporation.  In New York, that’ll cost you $225.00 on top of the $90.00 that you’ve already paid. 

Had you just organized in New York to begin with, it would have only cost you $125.00.  And Delaware has a franchise tax, which is WAY too complicated for me to explain here. So, is Delaware the right decision? 

Maybe, maybe not (probably not).  You’ll have to read the book to find out for sure.… If you want more legal information like this, visit my legal blog. 

I’ll keep you posted and let you know when the first book is ready…. 

I'd love to hear your opinions on the premise of the books and the titles, etc.  I'm not sure yet whether I'm selling them (for a nominal fee, like under $5) or whether I'm giving them away... Like I said, I'm open to suggestions... 

Goal:  To launch my law firm and raise my kids without losing my mind.