Did you form a formal biz entity for thought leadership platform?

22 Replies

Dear BP fellow members, 

First of all, thank you for all the amazing information you guys are sharing. As a beginner investor wannabe, I'm learning a lot from this community and this is my very first question I'm posting ever since I joined. =)  

When people create their thought leadership platforms like Hunter's Cash Flow Connections, Joe Fairless' Best Ever show and/or Neal Bawa's Multifamily U on top of their Investment companies like Asym Capital, Ashcroft Capital and/or GroCapitus, do they usually form another formal business entity (Ex: through separate LLCs) to run their platforms or It wouldn't really matter? In my opinion, they use their platforms not only to educate people for free, but also they have paid coaching programs, and therefore, it is a separate business.

I have been actively studying and saving to eventually start my career as a multifamily apt investor/syndicator, and currently working on creating my thought leadership platform and wanted to inquire about this. On my second thought, it may not matter at this juncture as I'm just a beginner. 

If you have one, how did you structure it? 

Any comments will be greatly appreciated. Thank you! 

Yosef

@Yosef Lee I coach and mentor people one of which you mentioned as well as others in the space and they all have separate entities for their different businesses. If you are planning to raise capital or provide any other service you definitely want to set up a separate entity from your operating company and property level entities so the one will not affect the whole. We live in a very litigious society and there are lots of legal nuances in the business of raising capital and providing investment opportunities and advice.

@Greg Dickerson

Thank you Greg for your response. As I am trying to do it right from the beginning, I think that’s what I am going to do even if it is another task to do. There are lots of things to think and learn about, and these are challenging but so far I am having fun with it as well. Thank you again for your opinion.

I have my coaching, my podcast, my multifamily syndication business and my contracting business. They are all separate entities. You want to keep them separate, because they are ultimately different, even though they are related. 

My thought leadership platform is Youtube and Instagram. I've only structured one LLC at the moment. Once I do my first syndication another LLC will be formed.

@Yosef Lee

Congrats on your decision to start investing early. While you're getting a ton of good information here, your best bet is to reach out to asset protection attorney(s) to discuss the best structures in your personal case.

Businesses should be separate, but if the content is not a business (meaning it does not generate income), then you do not need a separate entity for a pure content platform. However, if you have paid sponsors for your content, you'll want to separate the entity. 

@Yosef Lee   this is simple my friend. Keep them all separate even though they may run congruent with each other. Now if you're creating a podcast or a meetup and you don't plan on making money, not sure if forming an entity would be needed here. 

@John Casmon

Hi John Yes, that was where I started this question. Cuz I see many of them are pure free educational contents but at one point they also have paid programs mixed up. but yeah i will be setting up a separate entity. Quick random questions, would you wait to put out your thought leadership platform before doing your first deal for pure education purposes or still wait till you do a first deal? Thanks

@Yosef Lee

You don’t have to wait, but be honest with your audience on where you are with your journey. Don’t pretend to be more experienced than you are and people will appreciate watching you start out, do your first deal and progressing from there. It will be relatable to share that perspective.

Yosef,
No worries. Mine is work in progress. And it always will be. Btw, that should be the case for everyone: as we grow, our businesses grow, and our platforms evolve as well. 

Originally posted by @Yosef Lee :

@Alina Trigub

Sorry, I just shortened it without thinking. I meant Thought leadership platform. =)

 

Yosef, my platform is ready for a while. You can check it out on my site. More details under my profile.


Originally posted by @Yosef Lee :

@Alina Trigub

Exactly! Good luck with your platform and let me know when it’s ready I will listen to it!

 

@Yosef Lee happy you are starting your journey.

I have entities for my business, consulting program, podcasts, ect.

I have several businesses and keep them separate.

Good luck and happy investing!

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