Dream Big, Dare to Fail (but Protect Your Fall)

The Life Lesson:

Never give up on what you really want to do. 

The person with big dreams is more powerful than the one with all the facts – Life’s Little Book of Instructions

We live in a world of huge opportunity.  If you love yoga, shopping, fantasy football or are a master at photography or social media or wooden palette crafts, it is possible for you to turn your true passions into huge successes.  Undoubtedly, it’s happening every day to people around you.  You can search YouTube and find a “how to” video on just about anything or read a blog that brings solutions to the toughest of complications.  It’s everywhere.  Each and every day people are turning their life’s delights into their livelihoods.  And making millions to boot.

Guess what? You are allowed to as well.  You are allowed to have a dream and pursue your version of more. Have you ever thought: What if I open a coffee shop? Invent an app? Create an online course?  Start my own YouTube Channel? Pay attention to those thoughts that drive you, even if they don’t make sense to anyone else. Especially if they don’t make sense to anyone else.

Other people’s opinions are not an excuse to never start.  Failure is not an excuse to stop.

There is only one you, and you were put on this planet to do you.  Other people’s opinions are not an excuse to never start.  Failure is not an excuse to stop. I can tell you from personal experience, people will judge you and you will at times fail.  I can also tell you from personal experience, these judgments and failures are part of the process.  You are exactly at the point in life where you are supposed to be, criticisms and missteps included, so don’t let them stop you. Rise from your falls, learn from your mistakes, ignore the commentary and don’t take no for an answer.  Because here’s the big, gigantic bonus: By doing this, you are becoming an example for your kids. Show them what it takes to make your dreams come true.


The Legal Lesson:

It’s all just unicorns and rainbows, said no entrepreneur ever. – Erica Endyke

When you do take that first step to entrepreneurship, be sure to do it right.  Otherwise, you could end up in a courtroom or pay a massive amount of taxes.  Creating an LLC can help to avoid some of the impacts of both disasters (and more), and it takes just a few simple steps:

1.     Visit the Massachusetts Secretary of State Corporations website (https://www.sec.state.ma.us/cor/coridx.htm) and do a quick “search” to ensure that the name of your LLC is not taken (you’ll have to choose another if it is). Then “file online” to file your “Certificate of Organization.” This will be done by completing some basic information in the open fields. (Hint: A registered agent is a person with a Massachusetts address who will be able to receive mail, most likely yourself.);

2.     Obtain an Employer Identification Number (EIN) from the IRS (https://sa.www4.irs.gov/modiein/individual/index.jsp), which also requires filling in a few data entry boxes. Hot tip: a call to your accountant or trusted advisor may be useful prior to completing this application;

3.     Call, email or visit with your most awesome attorney who will draft you what is sure to be an amazing Operating Agreement, or basically the recipe book to your LLC;

4.     Open a business bank account with the EIN you obtained;

5.     Follow the steps in your Operating Agreement and don’t comingle funds.

Once you have it set up, making amendments or changes to the structure of your LLC is very easy and there is no need for continual maintenance like you would see in your average Corporation.

Going through the initial process of setting up your LLC does take some time and organization, but it is not difficult.  Trust me, this undertaking is instrumental to anyone who is starting their own business (and also another example of how it is more sh*t than shinola when launching.)  Of course, I am always here to guide you at any point and every step. 

You can do this. You were meant to do this. Don’t listen to the naysayers and don’t let the rest of us down.  So dream big, dare to fail (but protect your fall.)