Thread by @dvassallo

Here are some things I did to set up the business and how much they cost me. If I was on a tight budget I wouldn't have done most of these things, or found cheaper alternatives. But nonetheless, I think this info can be useful to anyone going through the same process.

Thread.

https://twitter.com/dvassallo/status/1126925437790081024

*⃣ LLC Formation:

I did this with @RocketLawyer in WA state for $509. This includes a yearly $150 fee for a registered agent. More about registered agents here: rocketlawyer.com/registered-age…

I got the LLC certificate and EIN in about 3 weeks. The EIN is needed to open a bank account.

I was originally going to use Stripe @atlas, mostly because I ❤️ @stripe and I ❤️ @patio11. But I did this when I had no clue what I was going to do, and Atlas required a lot of details upfront (mockups, screenshots, design docs):

https://twitter.com/dvassallo/status/1108101537547485185

. That put me off a bit.

Then I was going to use @LegalZoom but I got spam called while I was filling up the form (hadn't even submitted it yet). Kept receiving calls for days even after I abandoned the sign up. Not a good first impression.

@RocketLawyer only called once the day after signup to confirm.

The LLC formation process took a bit longer than I expected, but I was satisfied with Rocket overall. Also, I like that my LLC is in my home state not in Delaware (Atlas only supports DE). I can't explain why I like it that way though. 🤔😁

*⃣ Domain Name:

I spent a few hours looking for something suitable, and then stumbled on encrypted.dev from Google Domains. It was a Premium domain, so it costed nearly $400. If budget was tighter, I found some other good ones for just $12.

*⃣ Business Bank Account:

I first tried opening an account with Chase and Wells Fargo (since I use them for personal stuff & mortgage). But Fargo never responded after I faxed them all the paperwork, and Chase wanted me to visit a branch. Then I found @AzloNow and they're great!

My account with Azlo was open in under 24 hours. Signup experience was the best I ever had with any financial institution. I only had to choose the operating industry from a drop down, and a write a 1-line description of my services. (No mockups!)

The external bank verification happened immediately by signing in with my other banks (rather than wait several days to get those 2 transactions). So far very happy, and I wouldn't consider anything else for a business bank account. No monthly fee too. azlo.com

*⃣ Physical Mailing Address:

Anti-spam laws require showing a physical mailing address in emails. I got one from a UPS Store near me: theupsstore.com/mailboxes. It was $400/yr here in Seattle, which I found steep for something I don't expect to use. But maybe there's a cheaper alt

*⃣ Mailing List:

I had never setup a mailing list & I found the process more complex than I expected. I used @Mailchimp & despite the learning curve, I'm satisfied. I'm on the $10/mo plan, but also paid $99/year to use a custom domain. You can see it here updates.encrypted.dev/subscribe

*⃣ Logo:

Probably the least important thing of all at this stage. But I like having something visual to look at, and this is my money, and I don't report to anyone 😁. I used @99designs and for $700 I got 841 designs in 3d to choose from: 99designs.com/logo-design/co…. Winner got $412