Telecom Company getting of the ground Help

[vq352k]

Hello my name is Joseph I'm 23 years old male from Virginia.

I want to start up a small business with my dad. He has been working for a third party for almost 20 years. I have been working for a third party for over 5 years. We have the following:

Cable/Wiring Infrastructure Installs Commercial & Residential

*Knowledge about what needs to be done to get job done.
*All Materials and tools needed to get the job done.
*Enough Capital to get started( i think)
*Clients(just a few for now, but hope to grow soon)
*High quality & better performance(then the companys we have worked for)

I have a billion questions, but i'll try to keep it as simple as possible.
Our business will be based in VA, USA Here are my questions:

where do i go to register my company?
what type of licenses do i need?
what kind of insurance do i need?
Are there people who would actually sit down with me and help create a plan for something like this? if so where do i find one?
Will I be forced to get workers comp.?

I'm sure as i get tips ill get more questions. Thank you very much for taking the time to read my post & as i learn i hope I will be able to help others.

Best Regards
Joseph R.

[ltressel]

Hi Joseph,

Here are some links to start off:

registering a company:

http://www.commonwealth.virginia.gov/Forms/index.cfm

EIN number (irs stuff):

www.irs.gov

Talk to any insurance company like liberty insurance, state farm, farmer's insurance for your liability insurance coverage.

I will seek an attorney's help for advice on what kind of incorporation you need to do. He can also advise you on what pitfalls to look for and create a good corporate by laws for you based on your business and not just a generic one.

I will also suggest that you speak with your tax guy and see what he suggests for you regarding your tax responsibilities depending on what you pick-LLC, S-corp, c-corp.

This may all mean greek to you for now but you will be able to learn as you go. Entrepreneurship isn't easy but the pay off is worth it if you succeed.

Good luck Joseph-

PM anytime if you have questions. However, I am not an alternative for legal advise or tax advice. I can surely point you to the right directions.

LT

[CEO Space World]

It sounds like you are off to a good start.

What you need is a sequencing coach. Most businesses do the right things in the wrong order and it cost them too much time and money and that is what causes businesses to do less than optimum.

I do not do that but we have many in our network, not to mention everything else you need.

As for capital, figure out what you need for a salary for you and your father for 2 years, 2 years of expenses and then double that number and you would have enough capital. That is our general rule of thumb.