Will this really work? Part II.

When people tell you that starting your own business is challenging, they aren't lying.

First, you need an idea-- that's the easy part. Next you need a plan-- now we get slightly more difficult. After developing a business plan, the legal fun begins. And that's where we pick up with My Foresight Education.

Choosing a legal formation, actually, wasn't as challenging as I thought it might be. The benefits of a Limited Liability Company clearly stood out for an internet company with limited equity members: taxes get passed through (avoiding double taxation), owners are protected from liability, and in most states there is simplified record keeping and report filing.

The more difficult question to answer was where to form the legal entity of My Foresight Education LLC. Immediately, Nevada and Delaware stick out. Both states are known for their business friendly environment, low or no corporate income taxes, and minimal filing fees. In the end, however, we registered in New Jersey for a variety of reasons, but mainly we have the most familiarity with their tax and filing system.

So finally, we have a registered legal body and our very own EIN number, allowing us to get our Invested.in created. Invested.in is a crowd funding website which allows businesses and individuals to raise funds for projects through donations. We would like to ask you all to visit our page here and spread the word. Crowd funding relies on social networks to create a viral effect, so please share this link with your friends, with your family, and with your family friends. Every cent will help and every cent will be later donated to worthy educational causes.