Starting a new LLC and getting into the wealth game can seem like a daunting task. It was for me when I started that’s for sure. Firstly, you have to find ways to get money into the LLC. Ideas can feel like a dime a dozen or scarce. But it’s not as hard as you might think. Sometimes there are simpler solutions. Things you can do every day that can push you in the right direction quickly. With this article, I will give you 3 easy ways to add equity to your LLC. This will help provide you with a few good options to start out with and get on the right track.
Add Your Brokerage Account to Your LLC
Probably the simplest thing to do is put your brokerage account under your LLC. You can do this one of two ways. The first way, you can just move the brokerage account under your LLC and have it with your bank account. This is the easiest way and requires the least amount of effort. There is nothing wrong with this way other than, I think there is a better way. I’m of the mind that you need to exercise the talents of starting a business in order to get good at it. So, the second way is to open up an LLC specifically for your stocks, bonds, and crypto.
However, this can be a pain in the ass for those of us that are financially inclined and ADD (that me!). The reason for that is that you have to open up another LLC and have a second balance sheet. The two reasons why I recommend this model. The first reason, it provides your current company with a shelter of two between you and the losses you can experience from the stock market. The second reason, it provides your company with flexibility in compartmentalizing what your business can be. This way definitely helps me stay organized and on track.
Invest in a Friends Blog
This is one is kind of a toss-up. Mainly because the chances of you having a friend with a blog are going to be slim. But let’s say you do find a friend that is looking to start a blog. Investing in your friend’s blog and providing a helping hand is relatively cheap. At most, your friend may only need $500-$1000. Which in the grand scheme of things is not a lot (I did say, relative). Helping your friend get his/her blog off the ground will also make you look like a really good friend. But getting back to the point, this will help you build an asset with little to no effort on your end. Other than helping spread the word about your friend’s blog. It’s a win-win!
Creat Another LLC and Add Local Artwork to It
This is one of the things I did early on. It was a great way to help out the local artist and it was cheap. I would spend anywhere from $10-$50. I would collect them and put them under my “collectibles” LLC. If you don’t see the vision yet let me explain it in two ways.
The first way, I used my skill as a developer and I worked with each artist to build their website and advertise prints of the originals they would sell to me. This helps increase the value of the original artwork. When you have a business assets are king. Having multiple prints sold for the original helped increase the value of my AG Collectibles LLC and I was able to pull money from that to invest in other assets. This helped me one, helped the artist that supported me make more money, and two helped me by increasing the value of the artwork I bought for less than $50.
The other way, I can show you how this works, which works in tandem with the first way. Once you help your fellow local artist sell their prints, start looking into art appraisers in your area. Ask them to periodically praise your artwork and get a solid value for your inventory. This helps you gauge how much you should work to sell more of those prints. This may sound like a lot of work and planning, but it’s worth it. I also never said that these 3 easy ways to add equity to your LLC, would be without work.
Those are the 3 easy ways to add equity to your LLC. Hope you enjoyed the article. Understand this is an exhaustive list. There are definitely more ways, probably better ones too. But, these are ways that I found out are pretty helpful for individuals that are on a budget. If you are looking for a few good resources that can explain how businesses and investing work check out these books by Tony Robbin and Robert Kiyosaki.
If you enjoy this article check out our other Wealth articles!