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💡 Business Tip - One LLC for Multiple Businesses (Issue #44)
Easily test new models, products, services, offerings, etc.
Can you have multiple businesses under one LLC?
Yes, you can! That’s how I’ve structured my business to give me the flexibility to test lots of business ideas without trying to form a new company every single time I have a new concept I’d like to explore.
Over the past 13+ years, I would have wasted a lot of time and money if I had formed a new LLC or corporation for all of my wild and crazy ideas.
Instead, I treat Brilliant Forge LLC as the parent company where I “forge” new ideas, test them, and decide if I want to keep running them or shut them down (e.g., if they aren’t working out).
All of my Invincible businesses (like Invincible Solopreneurs) are examples of ones that survived. Dozens of others didn’t make the cut.
Read this excellent article for more information about the pros and cons of this strategy.
I’m Larry Cornett, a coach who can work with you 1-on-1 to design, launch, and optimize your business. You might also be interested in my “Employee to Solopreneur” workshop. I live in Northern California near Lake Tahoe with my wife and Great Dane while running my businesses 100% remotely.