One thing that surprised me in the interview was the fact that Patrick went with a sole-proprietorship model. When I started my B2B service as a side project, I went crazy looking at all the possible angles (a business suing you for a bug causing them loss of revenue, not being able to have a merchant account without a proper LLC etc) and back then it made a lot of sense to stick with the LLC model to create that shield in case something happened. Heck, one lawyer I consulted with even suggested I buy insurance.
Either, I have too much to loose and I am not a risk taker or there is something wrong with the advice I have paid for/read online :)
But the lesson is learned, from this point on, I will go with a sole-proprietorship model and avoid paying over ~$1K for the LLC..
Either, I have too much to loose and I am not a risk taker or there is something wrong with the advice I have paid for/read online :)
But the lesson is learned, from this point on, I will go with a sole-proprietorship model and avoid paying over ~$1K for the LLC..