Welcome the Newest LLC

Limulus-Systems-IconLimulus Systems is now official! As of September 11, we are Limulus Systems LLC, organized in the State of California, with our own federal EIN (Employee Identification Number, if you don’t know), so the tax man can find us. Now there’s a lot we can do that was harder before – set up a bank account, write off expenses, that sort of thing. It’s very exciting, but it doesn’t seem quite real, like I’m playing at being in charge of a company, and somebody will find me out. It’s true that I don’t really know what I’m doing, but that generally hasn’t been a problem so far, it all appears to be working out…sort of. My errors seem to be mostly minor.

For example, I went to the bank to set up an account, and found that they required a LLC operating agreement to set it up. Apparently, our hard-won partnership agreement was not sufficient for them. That’s a little nonsensical, since they cover the same ground, but there you are, the bank has its rules. I had to go back to the Nolo Press book on LLCs to come up with the operating agreement, which has to be signed by my East Coast partner and myself, requiring overnight coast-to-coast mailings, and generally slowing things down.

Mistakes like this aren’t critical, but they create delays, when we should be moving fast. We’re a small company with no bureaucracy, we should be able to turn on a dime, yet it seems like this process is taking forever. I want our LLC in place, I want to set up a bank account, I want to get our web application in front of users, I want it all and I want it now. I’m impatient, but I don’t think that’s a bad thing, considering that we have a few near-competitors breathing down our necks.

I suppose I have to be a little more patient. How does that old saying go? You can have high speed, high quality, and low cost, but you only get two of the three. If you want it fast, you have to sacrifice quality and/or cost, and so on. At Limulus Systems LLC, we’re going for a middle road of moderate quality for initial testing purposes and (hopefully) lower cost, as fast as we reasonably can. I hope it works.

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One Response to Welcome the Newest LLC

  1. Sycntist4mrlynome says:

    Live and in color! Congratulations Jack.

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