Just asking what best practices typically are, because someone told me that I should try to get small but consistent income results before starting an LLC.
I guess this makes sense, since it can cost a little to start and is a lot of work. However, wouldn’t this mean my business’s initial income/expenses would be coming in/out of my personal account, rather than a business bank account?
Don’t most people advise against this?
I would personally say to start it sooner to avoid liability, but some would argue that it’s better to earn something first as the idea might not pan out.
But what if I’m planning on having another idea of the first doesn’t pan out?
I honestly feel like I just want another source of income, whatever it may come from. Wouldn’t that be better to simply make a general LLC with a versatile name that I could use for any number of my pursuits?
Go for it. What do you have to lose?
You could always changed the name in the future, LLC is only the corporate name which would show up on documents, while your branding would be what your customer’s would see.