So, I’ve officially established my company! Moniluxx has been certified as an LLC and has its EIN number. I am so excited! What led me to this point was…you guessed it, Covid. At this time of writing, Covid is still a threat, but during the summer months, it has slowed down some. Masks are still necessary in prohibiting the spread of the virus. So, because of this, I am continuing to spend most of my time in my home.
I still have my day job and work from home, but I expect that will not continue for long. It’s really simple economics…during extremely slow periods, the company will look for ways to save money and trim where they can. I know you guys can relate to this. So, because I know this (I’ve seen this happen countless times before), I’m preparing for the worst. I am so fed up with experiencing anxiety because someone else has the power to control whether you can pay your bills or if you can provide for your family. I decided to stop letting others write my story and to take control of my life’s storyline and future. Who is more suited and can do a much better job than you when it comes to piloting your life?
So after determining this was the perfect time to start my own company offering luxury/comfort home goods through my website and linking to Amazon. I targeted Amazon as the perfect platform for inventory storage, handling customer payments, access to an extensive customer base, and Prime Shipping! Little did I know there was A LOT more involved to sell on Amazon. More about that later!
How did I get to this stage mentioned at the beginning? Rewind just a bit…..once I decided I really was doing this, the first thing I did was create a company name and decide exactly what I wanted to sell. I decided on Moniluxx (it’s a part of my name), and I did research on www.USPTO.gov to see if the name was already taken. What I didn’t know then was I should have also searched the social media accounts as well. I’ll find out later when establishing my social media accounts that there were similar names to mine but spelled slightly different. But don’t forget, I am completely new to social media and ecommerce. I am truly learning as I go!
After searching the USPTO database, I confirmed my chosen name was available. I then contacted the IRS at www.irs.gov to apply for a free EIN number for my company. With EIN in hand, I applied for LLC registration with my state. For the state of Georgia, the cost was around $200. I chose LLC due to limited liability protection for my business. *There is one more important step that I will discuss in the next blog.* Now, I am a legal business and ready to proceed! I thought to myself, ‘what do I do now?’ The better question is ‘What didn’t I do?!!’
Till Next Time!