Here’s Why LLCs are a Waste of Time
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I've talked to a lot of entrepreneurs who think they need an LLC right off the bat, but that's not always the case. I didn't create an LLC for our company until we were already doing over a million dollars a year. At best, when you're Still getting your business off the ground, an LLC might be a waste of time and money. At worst, it's a distraction from something way more important.
So today, Entree Leaderships head coach John Falkins is walking through what an LLC does and doesn't do, when you might be ready for one, and what you should really be focusing on instead. Let's get to it. Alright, let's level set right off the bat about what an LLC actually is. It's a limited liability company, which I admit is clear as mud, that doesn't mean anything to anybody. It basically says to the world, this business is a separate thing from me personally.
It's just a form of legal structure. And here's what that means for running a business. First, it creates a separation, a clean line between you and and the business. And in a world where people will sue over the smallest thing, you want that line.
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