Step-by-step, we’re getting closer to having all the detail work completed. But the details are essential to starting an online business. Of course, the details can also be boring, frustrating and tedious. What’s the detail work? Things like filing articles of organization to establish an LLC (Limited Liability Company), obtaining a business license, setting up business checking accounts, and much more.

If you’re visiting A Couple of Quitters for the first time, here’s a summary of who we are and what we’re doing: I’m Scott and, along with my wife Tammy, we’re starting work-at-home businesses so we can quit our jobs and live the lives we always hoped for. Our businesses are online or Internet-based businesses. Guided by the Internet Business Mastery Academy, we’re following a proven plan which should result in both of us having successful Internet businesses. The Academy is filled with courses that lead you through each step of the process and includes tons of audio and video guidance at every step of the way. Each week, we post updates with general details about the steps we’ve taken toward establishing our businesses. We offer our own observations and lessons we learn along the way, plus our own suggestions for helping you navigate through the process too. Here’s a rundown of what we did this week:

• Met with a small business attorney
• Talked about health insurance options with a local broker
• Obtained health insurance plans from an NFIB Member Health Insurance Plans representative
• Obtained our EINs (Employer Identification Numbers)

Business Attorney Meeting

On Friday, Tammy and I met with a business lawyer. We had a list of questions. Mainly, we wanted to find out if we are doing things right, especially regarding registering our businesses, getting our business licenses, registering DBAs, etc. We also asked some tax-related questions but the conclusion was (as we expected) that we should see a CPA (Certified Public Accountant) for that information. It just so happens that we’re planning to meet with a CPA next week.

The Health Insurance Saga

I was expecting a work-up of some health insurance plans from my NFIB contact person. I didn’t get those until yesterday so I haven’t had a chance to review them. The big issue is pre-existing conditions and issues related to worker’s comp. The plans I received may solve those issues but may also include more work along the way. I’ll cover this more when I have enough clear information to share.

I called the local broker who serves the company I work for. Currently, I’m not receiving my health insurance through my job, but I’m familiar with the insurance and the broker, himself. Shortly after our 20-minute conversation, I received some health insurance plan via email. Again, I haven’t reviewed them yet, but I’ll be covering this topic again.

Employee Identification Numbers

In order to set up our business checking accounts, we’re required to have Employer Identification Numbers or EINs. We were able to do this online. It was fairly easy and only took a few minutes. You just click the appropriate boxes, fill in the necessary blanks, and hit submit a few times. Speaking of setting up our business checking accounts, we’re each going to be using a two-checking-account system to prevent identity theft in our businesses. Read How to Protect Your Business Funds from Hijackers to learn how. If you haven’t read about this and you’re starting a business, you’ve GOT to read this post. Even if you’re not starting a business, this post will tell you how to protect your personal funds as well.

Next Week

Slated for next week, we’re planning to chat with a CPA to ask about setting up our books for tracking expenses. Also, we’ll probably set up our checking accounts and dig into the health insurance plans to see if there’s anything viable that we could actually use. Lastly, we’ll probably select a web host and begin phase one of setting up our business blogs.

We can’t spill ALL the beans. If you would like step-by-step instructions for starting your online business as well as dozens of resources, you can find them in the Internet Business Mastery Academy along with video tutorials showing exactly how to use them. To get a 30-day, no-risk, trial membership to the Internet Business Mastery Academy, simply click on this ad and receive a free audio course –it’s a good intro to the Academy. If you decide to join, please consider using one of our affiliate links on this page so we get credit for referring you. Thanks!