On this episode we talked about why Entrepreneurship might not be for everyone, but Ownership is. The importance of approaching entrepreneurship the right way by taking it upon yourself to fully understand the activity/activities of setting up a business or businesses to it's entirety. We talked about Ownership and how ownership gives you control. We also discussed LeBron James recently becoming a part-owner of the Boston Red Sox, why we don't like MLM's (Multi-Level Marketing) and Forex (Foreign Exchange Market) and much more.  

Key Takeaways: 

How to establish a business tips from Small Business Administration (sba.gov) 

-Conduct market research and find a mentor who is in the business that you would like to get involved with.  

-Get a professional business plan written. 

-Acquire or save up some money to fund your business started. 

-Pick your business location/address.  

-Choose a business structure (LLC/S-Corp/None-Profit) etc. 

-Choose your business name.  

-Register your business. 

-Get federal and state tax identification numbers IDs. 

-Apply for licenses and permits. 

-Open a business bank account. 

-Get a Certified Public Accountant (CPA) to assist you or consult on any of the above as well as taxes.   

Follow us on Instagram and Twitter @loampod for more information feel free to reach out below as well.

Steph: Instagram @misterbottles and Twitter @GEDSuccessStory

Fonz: Instagram @fonz_onamission27 and Twitter @onamission_27

DISCLAIMER Fonz & Steph are NOT certified financial advisors, nor lawyers, nor economists, nor CPA's. We are two certified IT professionals that take ownership of the task of being financially competent for ourselves and our last name. The contents on this podcast are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice