Savvy Ventures

16/02/2026

Starting your entity isn’t complicated.
What truly matters is the impact you create after you start.
Build smart. Build strong. Leave an impact. 🚀

20/08/2021

12/01/2021

Happiness and much more 🙏😍

09/01/2021

Cost of Being Poor
Up until I was able to start paying myself through my ventures I often needed help from my parents for bills and expenses. I had the security to pursue my ventures knowing I wasn’t going to be homeless or the lights were going to get shut off. This economic security is critically important. According to a recent post by Alison Walton in the University of Chicago Business School’s journal, The Chicago Booth Review, poverty can reduce an individual’s IQ by up to 13 points. This is huge because the standard deviation of IQ scores is 15! This means that 98% of people land between an IQ score of 71 and 130, the mean is 100. So if someone started off at 105 (above average), without financial security they would be 93 (below average).

08/01/2021

How To Start An EntityHow To Start An Entity
Recently an entrepreneur asked me how to start a business and I thought, wow where do I start? And right as I was about to start covering concept ideation he said, “Oh, I already have an idea, I mean the actual entity.” “Ahhh, yes that’s the easiest part,” I said.

Here are 3 easy steps you can use to create your legal entity.

1) Creating your entity: Go to your local state’s Secretary of State website and create an entity. (LLC, S-Corp, C-Corp, B-Corp)

2) Register your entity: You can get your EIN (your business’s SSN) from the IRS website.

3) Raise money: Use the documents you get from step one and step two to create a bank account.

Here’s a little more explanation on these steps.

1) Creating your entity: First you must determine where to base your entity. Some people will say that you need to have a Delaware C Corp, but that isn’t true. To domicile an entity in Delaware is a wasted expense. It is much better to just use your home address and register the entity in your home state. There are several types of entities you can select from, here are the options:

LLC: Limited Liability Company (LLC) or a Limited Liability Partnership (LLP) are simple entities used to shield liabilities from the owners and pass through the profits to the owners. These entities are simple so you can only issue a percentage ownership rather than different classes of shares like you can with a corporation.
S-Corp: It’s like a corporation “lite” where there is still the pass through benefits like an LLC but with the ability to have more complexities than a LLC. The limitation is that you must have no more than 100 shareholders, and all of those shareholders are U.S. citizens.
C-Corp: A traditional corporation. No pass though meaning revenues of the company are taxed at the entity level and then taxed again when the profits are distributed to shareholders.
B-Corp: Just like an S-Corp except that rather than just focusing on generating value for shareholders these entities have a social benefit that they can focus on. This is great because it allows a management team to have dual focuses, rather than only having to abide by their fiduciary responsibility. This responsibility requires executives of a company to make strategic decisions that will enrich shareholders.
2) Register your entity: You can get your EIN (your business’s SSN) from the IRS website. You can select the type of entity you want here. It’s pretty straightforward.

3) Raise money: Use the docs you get from step one and step two to create a bank account. Make sure you consider the benefits from different banks. Typically, national banks are great if you need access to a large network of branches or if you make frequent foreign transfers. The downside is they usually have monthly fees or account minimums which are annoying. Credit unions usually don’t have the fees and have more flexibility regarding lending, if you are considering raising debt capital.

07/01/2021

Idea Pitch

07/01/2021

more hope

07/01/2021

Idea

07/01/2021

How does someone come up with a start-up idea? What type of divine inspiration does it take to come up with the next billion dollar venture?

There are three main ways to come up with a company idea. The first is to look for a market inefficiency and provide a solution to fix the market inefficiency. The next is to identify a product or service that needs improvement and look for ways to solve that issue. The final way is to invent a novel technological advancement. I’ve been involved with all three types of companies.

1) Market Inefficiency: when there is a supply of something, be it physical or digital, and there is a demand for that thing, but for some reason the people who want it can’t get it easily. Amazon is a good example of this. Everything on Amazon was available to people before Amazon was invented. However, people used to have to drive to the bookstore or the mall; now much easier to just sit on the couch and order everything with free shipping.

2) Optimization: If something irritates you it will probably irritate others, too. If you can find a way to simplify a process or make life easier, you’ve got something there. To use a cliché, build a better mouse trap. Last winter, we literally had a couple mice get in the house through the dog door. I found some old school “snap” rat catchers but they didn’t work. So my wife bought a no-kill mouse trap, based off of reviews on Amazon, and it worked like a charm.

3) Scientific Breakthrough: if you’re an engineer, scientist, tinkerer or genius and you’ve come up with an innovative product or solution. The tragedy about this option is that it is very difficult to raise funds on something theoretical or paradigm shifting. Oftentimes investors want a proof of concept or prototype, but making something brand new can take tens of thousands or even hundreds of thousands of dollars.

Some may say that is why grants exist, however if you apply for a SBIR or STTR with your idea, it might get stolen. If NASA or DOD or DARPA or another government agency really likes your idea they can straight up steal it. YES!! Literally steal your idea. I know two companies that had groundbreaking aerospace innovations that had their ideas stolen from them and given to larger aerospace players. One of the CEOs who had their invention stolen told me that from now on they leave critical parts of their idea out so their project can’t be taken from them.