 Hey coach welcome back to our channel. My name is Ben neighbors If you're brand new here make sure and click that subscribe button this way You can stay updated with all the brand new videos that we have coming out on Mondays Wednesdays and Fridays Now in today's video I'm gonna talk about the three things you need to do legally to start your business And this is something I go into a lot of depth in our startup sports business Academy book and video series But I just want to briefly talk about this because I know most coaches out there who end up starting a training business They don't have a legitimate legitimate business. They do things with cash checks. They don't get insurance They don't streamline anything and I want to make sure that doesn't happen to you All right, so here's the three things that you have to do number one You have to set up a legitimate business and how do you do that? Well, and most cities out there here in the US. It's very simple You go to Google and you type in so I live in San Antonio, Texas For example, I would type in how to start a small business in San Antonio, Texas And for me personally when I googled that the first thing that popped up was legally how do I do it and it showed me exactly where to go and this happened like 10 years ago what I had to do is I had to go to the courthouse and File a legal business name and that's how it is for most coaches out there that I've personally helped and That would be step one is you need to legally go file your business name And you probably need to do that downtown or at a courthouse and there's also other ways you can do it You can go to like legal zoom comm. There's other websites where you can do that but that is step one and here's why that is step one it's because if you do that you have skin in the game now you Actually have a legit business You don't just go out to the park or go out to the basketball courts and just train kids and get cash or checks That's not a real business having a real business Really gives you the peace of mind knowing alright This is a real thing and you're probably gonna want to push harder when you have a real business versus Something that's just a hobby. Okay, so that's step one is go Google how to do it in my city All right, how to start a business in my city All right step two is once you have all the paperwork for your legitimate business now You need to go to the bank that you've been banking up for the last couple years I would assume or go to a new bank and open a business Checking account and I'm very specific about that. You need to open a business checking account And what you do is you walk in or you call the bank before You get there and you say hey I want to open a new business checking account and I want to do this for this business And so when you go set up your legitimate business downtown or at the city hall wherever you do it You then take the paperwork to the bank and they have to have that paperwork Otherwise, they won't let you set up your business checking account and from there you sit down with someone at the bank They will open the business checking account with you You're gonna have to probably put some sort of deposit down and from there now you have a way of getting paid by parents This is where all of the money you ever make in your business. It's gonna go into your business checking account I would also recommend this is kind of like step two of opening up a business checking account is I would get a business credit card this way all of your expenses are Clearly written off and you use that business credit card for your website for your payment systems If you have insurance which I'm about to talk about here in a second Everything at that point is on your business credit card And if you have a good business credit card, you can earn miles. You can like have free hotels You can get points however you want to do that as long as you're responsible with using that business credit card You're good to go, but you need to go to the bank Okay now the next step is you need to get insurance and the other day I created a video and I talked about why you need insurance, but you need to have liability insurance For your business and I'm talking about for the kids that train with you Okay, and it's really important because if you don't have that then if someone gets hurt You're gonna end up getting screwed. You're gonna get sued You're gonna lose all your money and that ultimately falls back on your shoulders because you're the business Owner it should be you that has that, you know done. Okay, so again, we're recap Number one you got to set up a legitimate business go online do five minutes of research It will show you step by step where you need to go How much that's gonna cost you in order to do that step to you go to the bank If you don't have a good bank that you like going to now then go to a brand new one All right, step three you need to get insurance now if you want to take the next steps and learn how to now get clients and Streamline those clients where you have a system where every month you get paid month after month I want you to click on this button up here That's gonna take you to an information page about our mastermind program This is where I personally help coaches just like you or either starting or they want to go the next level And these are this is really set up for coaches who are serious. It's not for those who want to do it part time I want to help coaches this year and make a hundred thousand dollars per year or more And that would be a great group for you to join if you are committed So go ahead click on that button there that takes you to an information page from there You can apply for the program. I'm very picky with who I work with So I want to make sure when you go through the application you go through it in depth From there, I will call you and see if you're the right fit. So that's it Thanks again for watching this video comment below if you have any questions And like I said click on that resource there. I know that's gonna help you out