“Remote shopping, while entirely feasible, will flop.” — Time Magazine, 1966

The Incorporation Process

The first time you incorporate a company, it can feel unfamiliar.

There’s terminology.
A few decisions.
Some forms.

After that?

It becomes routine.

What once felt intimidating becomes a five-minute task.

Like most things in entrepreneurship, the difficulty is psychological, not procedural.

Let’s simplify it.

Decision One: The Company Name

This is where many people get stuck.

They obsess.

They brainstorm endlessly.
They hire branding consultants.
They test logos.
They argue over syllables.

Weeks pass.

Nothing moves.

Here’s the truth:

Your company name will not make you successful.

Your product will.
Your service will.
Your customer experience will.

Apple wasn’t powerful because of the word “Apple.”

Google wasn’t compelling because of the word “Google.”

The product made the name.

Not the other way around.

Don’t Overthink It

A clear, simple name is enough.

It should be:

• Easy to spell
• Easy to pronounce
• Easy to remember

That’s it.

You can refine branding later.

You cannot build momentum later.

Perfection is procrastination disguised as professionalism.

What Actually Builds a Brand

Customers return because:

• The product works.
• The service is excellent.
• The experience is smooth.
• They trust you.

If you deliver those consistently, your name will gain meaning.

If you don’t, no clever branding will save you.

Reputation is built through behavior.

Not typography.

The Rule

Choose a name.
Check availability.
Register it.
Move on.

Do not let naming delay momentum.

Remember:

You are not building a logo.

You are building value.

‍

Do you use Post-it® notes because the manufacturer is called 3M?

Of course not.

Most people don’t even know that 3M stands for Minnesota Mining and Manufacturing — a name that has almost nothing to do with sticky notes.

You use the product because it works.

Because it’s reliable.
Because it’s everywhere.
Because it solves a small problem perfectly.

The brand became powerful because the products delivered.

Not because the name was poetic.

Do you drink Starbucks because the name moved you emotionally?

Unlikely.

In 1971, the founders worked with an artist to define the brand and landed on “Starbucks.”

The name comes from Starbuck, the first mate on the ship Pequod in Moby-Dick.

Would you have guessed that?

Probably not.

And it doesn’t matter.

You go there because:

• The coffee is consistent.
• The experience is predictable.
• The environment feels familiar.
• The system works.

The name gained meaning through repetition and delivery.

Not mythology.

This is the point.

The market assigns meaning to a name.

You do not.

If your product is mediocre, a brilliant name will not save it.

If your product is excellent, even a plain name will become powerful.

Google meant nothing once.
Amazon was just a river.
Apple was a fruit.

Execution created meaning.

So don’t stall your momentum obsessing over branding at the start.

Pick something clean.
Register it.
Build value.

Let performance make the name memorable.

Your job is not to invent a legendary word.

Your job is to create something worth remembering.

‍

Instead of stressing over a clever company name, put your energy where it matters:

Build a great idea.
Deliver an exceptional product or service.

That’s what creates value.

When the Name Does Matter

If you’re offering a service, clarity helps.

A name that hints at what you do makes recall easier.

When someone needs the service, your name should surface naturally.

That’s helpful.

But helpful is different from heroic.

The name does not carry the business.

The execution does.

The PayPal Lesson

Take PayPal.

Today it feels obvious.
Clean.
Perfectly descriptive.

But it didn’t start that way.

In 1998, Peter Thiel and Max Levchin founded a company called Field Link.

It was soon renamed Confinity.

Only later did Confinity launch the PayPal electronic payments system.

Eventually, after mergers and restructuring, the company adopted the name PayPal Inc. for its NASDAQ listing.

eBay acquired PayPal in 2002 for $1.5 billion in stock.

Not bad for a company that began with two forgettable names.

eBay itself started as AuctionWeb.

Weak early names did not stop either company from succeeding.

The product and momentum carried them.

The name followed.

You Can Change It Later

Here’s another calming truth:

You can change your company name.

It does not require starting over.

You don’t reincorporate.

You file an update.

The state records it as:

Company X, doing business as Company Y.

That’s it.

This is not irreversible.

So don’t treat it like a life sentence.

The Real Rule

Choose something:

• Clear.
• Available.
• Acceptable.

Register it.

Move forward.

Momentum builds brands.

Perfection delays them.

Your job right now is not to craft a legendary name.

It’s to build something worthy of one.

‍

My Own Naming Story

The first time I incorporated, I chose the thrillingly uninspiring name:

TGB International.

TGB were simply my initials.

“International” was there because thinking big changes how you behave.

That’s it.

Later, when the company found its purpose, I renamed it QOL Medical — short for Quality of Life.

That better reflected what we actually did.

We became, at one point, probably the smallest “international” pharmaceutical company in the world — with customers in Europe and Asia.

The name did not build the company.

Execution did.

For all my companies, I spent:

• Zero dollars
• Less than five minutes

When I die, I doubt anyone will remember the names.

But people remember impact.

That’s what matters.

Perspective on Names

Companies with great names fail.

Companies with odd names thrive.

Circuit City had a perfect name.

Flooz.com sounded modern.

Both failed.

Amazon?

It’s a river.

Bezos chose it because it started with “A” and would appear near the top of alphabetical listings.

That’s not mystical branding genius.

That’s practical positioning.

Consultants may romanticize these things.

Founders just move.

Simple Naming Rules

If you must have guidelines, here they are:

• Make it somewhat relevant (especially for service businesses).
• Make it easy to spell.
• Trust your instinct.
• If stuck, write words on paper until one stands out.
• Do not hire someone to do this at the beginning.

You are not building a brand department.

You are building a business.

Name it.
Register it.
Move forward.

Decision Two: Choosing a Corporate Structure

Now let’s simplify something people love to overcomplicate.

There are several corporate structures in the United States.

You do not need a law degree to understand them.

Here’s what matters.

1. C Corporation

This is the traditional corporate structure.

It allows unlimited shareholders.
It is common for large public companies.
It is built for scale and outside investment.

But it comes with double taxation:

• The company pays taxes on profits.
• Then shareholders pay taxes again on distributions.

For a lean, non-employer startup?

Usually unnecessary.

That’s a structure for later-stage growth or venture-backed expansion.

Not day one.

2. Close Corporation

Similar to a C Corporation, but with limited shareholders (often around 30).

Not all states recognize it.

For most modern virtual businesses, it adds no clear advantage.

Skip it.

3. S Corporation

An S Corporation avoids double taxation by allowing profits to “pass through” to owners’ personal tax returns.

Sounds attractive.

But:

• Ownership is restricted to U.S. citizens or permanent residents.
• There are shareholder limits.
• It adds compliance complexity.

For a simple, early-stage, single-founder virtual business?

It often adds distraction.

You want simplicity at the beginning.

4. Limited Liability Company (LLC)

This is where most lean founders land.

An LLC provides:

• Limited liability protection
• Pass-through taxation
• Flexibility in structure
• Simplicity in management

It is recognized in every U.S. state.

It is inexpensive.
It is easy to set up.
It is easy to manage.

All of my U.S. companies have been LLCs.

It gives you protection without unnecessary complexity.

That’s exactly what a new founder needs.

Keep It Simple

You are not building a legal monument.

You are creating structure.

Structure protects you.
Structure enables growth.
Structure signals seriousness.

Complexity can come later — when revenue justifies it.

At the beginning?

Clarity and momentum beat sophistication.

‍

A Note for Canadian Founders

If you are in Canada, the structure works differently.

In the United States, an LLC (Limited Liability Company) is often the simplest and most flexible structure for a small founder-led business.

In Canada, there is no direct equivalent.

LLCs are generally not formed in Canada the way they are in the U.S., and the tax treatment and liability distinctions that make LLCs attractive in America do not apply in the same way.

Instead, Canadian founders typically form a corporation.

So if you are operating in Canada, your decision is simpler:

You will likely incorporate federally or provincially as a corporation.

Canadian Partnership Structures (If You’re Not Incorporating)

Canada recognizes three main partnership types:

1. General Partnership

Two or more individuals share ownership.
Each partner is personally liable for business debts and obligations.

Simple — but carries personal risk.

2. Limited Partnership (LP)

Allows some partners to have limited liability.
Typically includes:

• General partners (full liability, operational control)
• Limited partners (limited liability, usually passive investors)

This structure is more common in investment settings than lean startups.

3. Limited Liability Partnership (LLP)

Provides liability protection to partners.

However, LLPs are generally restricted to certain professions in most provinces, such as:

• Lawyers
• Accountants
• Architects
• Medical professionals

Regulations vary by province.

The Practical Takeaway (Canada)

For most Canadian founders starting a lean, scalable business:

→ Incorporate as a corporation.

It provides:

• Limited liability protection
• Structural credibility
• Clear ownership
• Cleaner exit options

Consult a local accountant or corporate service provider for provincial specifics — but the decision tree is far simpler than in the U.S.

Decision 3: Filing the Paperwork

Now let’s remove the final psychological barrier.

“Articles of Organization.”

It sounds intimidating.

It isn’t.

In the United States, forming an LLC simply means filing a short document with your state — typically online.

You provide:

• The company name
• The registered address
• The name of the member(s)
• Basic contact information

That’s it.

As a lean, non-employer founder, you would list yourself as the single member.

The process is guided.
It takes minutes.
It costs little.

In Canada, incorporation paperwork is similarly straightforward through federal or provincial portals.

Don’t Let Vocabulary Stop You

Entrepreneurship is full of words that sound bigger than they are.

Articles of Organization.
Operating Agreement.
Registered Agent.

They are not obstacles.

They are forms.

Fill them out.

Submit.

Move forward.

The paperwork is not the business.

It is the doorway to it.

‍

Here is an example:

Operating Agreement (Yes, Even If It’s Just You)

When forming an LLC, you’ll often be offered the option to create an Operating Agreement.

Even if it’s not legally required in your state, create one.

What is it?

A short document that outlines:

• Who owns the company
• Percentage ownership
• Roles and responsibilities
• How decisions are made
• What happens if ownership changes

If you’re the sole owner, it can feel unnecessary.

It isn’t.

An operating agreement:

• Strengthens the legal separation between you and the business
• Protects the LLC structure if challenged
• Prevents defaulting to generic state rules
• Is often required by banks or lenders

The good news?

Online formation services generate it automatically.

You fill in names and addresses.
Click.
Download.

Five minutes of effort.
Years of clarity.

Don’t skip structure because it feels excessive.

Structure protects freedom.

Decision 4: Registered Agent

Now for another term that sounds intimidating:

Registered Agent.

It isn’t.

A registered agent is simply a person or entity available during business hours to receive official legal or tax documents.

That’s it.

For most non-employer founders, you can list yourself — provided you have a physical address in the state of incorporation.

No drama.
No complexity.
No need to pay extra at the beginning.

Many formation services will offer to be your registered agent for an annual fee.

At startup stage?

Usually unnecessary.

Keep it lean.

Business Address

You can use your home address as your business address.

That is perfectly legal.

However, some founders prefer a more formal mailing address for privacy and professionalism.

There are many services that provide:

• Commercial mailing addresses
• Mail scanning
• Digital access from anywhere in the world

I use a service that scans and forwards mail digitally.

It keeps the company stable while I move freely.

That’s optional — not essential.

Annual Maintenance

Once incorporated:

• You’ll receive annual renewal reminders.
• You’ll file a simple annual report online.
• You’ll receive occasional notices about employee taxes or workers’ compensation.

If you operate a non-employer model, many of those notices simply don’t apply.

The process is far simpler than people imagine.

The Final Psychological Shift

Formal structure does one more powerful thing:

It elevates your posture.

You are no longer “trying something.”

You are running a company.

You can call yourself Founder.
Managing Member.
Chief Executive Officer.

That may sound like ego.

It isn’t.

It’s identity alignment.

Identity drives behavior.
Behavior drives outcomes.

When you step into the role, your decisions sharpen.

That is the hidden leverage of structure.

What could be simpler?

You point.
You click.
You submit.

And you move from idea-holder to company-builder.

‍

‍

Founder’s Incorporation Decision Tree

(For Lean, Non-Employer Startups)

Start here:

Step 1: Are You Just Testing an Idea With No Revenue?

• ☐ Yes
• ☐ No

If Yes →
You can still incorporate now to:

• Install founder identity
• Protect your name
• Rewire your mindset
• Enable future momentum

Move to Step 2.

If No (You plan to generate revenue soon) →
Move to Step 2 immediately.

Step 2: Do You Want Personal Asset Protection?

(If your business were sued, do you want your home, car, and savings protected?)

• ☐ Yes
• ☐ No

If Yes →
You need a legal entity. Continue.

If No →
You are accepting unlimited personal liability.
Proceed carefully — most founders should not choose this path.

Step 3: Are You Raising Venture Capital Immediately?

• ☐ Yes
• ☐ No

If Yes →
A C Corporation may be appropriate.
Venture capital firms often prefer this structure.
Consult a startup attorney.

If No →
Move to Step 4.

Step 4: Are You a Solo Founder or Small Ownership Group?

• ☐ Yes
• ☐ No

If Yes →
An LLC (Limited Liability Company) is likely your best starting structure.

Why?

• Limited liability protection
• Pass-through taxation
• Low cost
• Low complexity
• High flexibility

This is the simplest, cleanest option for most non-employer startups.

If No (Large ownership group or complex structure planned) →
Consult a professional, but many still begin with an LLC and convert later if needed.

Step 5: Do You Want Maximum Simplicity at the Beginning?

• ☐ Yes
• ☐ No

If Yes →
Choose LLC.

If No, you enjoy complexity and compliance paperwork →
Consider S Corp or C Corp — but understand the tradeoffs.

The 90% Rule

For most first-time, lean, virtual founders:

→ Form an LLC.

It gives:

• Protection
• Flexibility
• Simplicity
• Credibility
• Optionality

You can always convert later if growth demands it.

You cannot easily undo personal liability if something goes wrong.

Final Founder Filter

Before you click “Submit” on incorporation, ask:

• Am I serious?
• Am I willing to act?
• Am I prepared to behave like a founder?

If yes:

Incorporate.

Identity follows commitment.

Momentum follows identity.

‍

Homework Time

Okay, it is time to confess. Did you do it yet? Still procrastinating? Really? Are you serious about entrepreneurship or not?

Wake up.

Those of you who understand the importance, please share your experiences and tips and hacks for everyone else who thinks they know better than the teacher.

‍

This might seem a bit off topic, but actually what you are doing by incorporating an idea is committing to accept change in your life. In this video, I am teaching the commitment to change ritual, which is a vital part of the equation used for achieving any Intention. You can learn more about the rest of the equation in The Transformation Experience.