Page 70 - The UnCaptive Agent

WHAT KIND OF AGENCY DO YOU WANT TO START? 43

computers are also capable of video communication.
This means that you can (subject to licensing and reg-
ulatory compliance) sell products to anyone, anywhere
in the United States (and perhaps eventually in other
countries as well). Within a very few years, virtual reality
and augmented reality (which allows virtual presence
in physical space) will allow interactions as personal as
we now experience only with physical proximity. The
implications of this technology, which will be cheap and
ubiquitous by the end of the 2020s, are vast. Not only
will you be able to live and work wherever you wish
while selling and servicing clients from anywhere, but
your employees will no longer need to come from your
local community.
It’s a fairly simple matter to employee people who
live outside your geography. In my businesses, we have
employees located in a number of states who work from
their homes using commonplace technology. It is also
now possible to hire service people virtually who are
in different countries and time zones. Agencies across
the country are using services like this and speeding up
their operations, lowering the costs, and turning fixed
expenses into variable ones. As you plan for your new
business, becoming familiar with these new opportu-
nities may speed your development as well as multiply
your success.

Choosing Legal Structure

Another fundamental question you need to answer at
the very beginning of your business planning is what
kind of legal organization your agency will take. You
have essentially four choices.
Many startups with only one owner begin their busi-
ness as a sole proprietorship. A sole proprietorship isn’t