3 Small Steps to Help Your Business in a BIG Way

Rachael, Direct Incorporation Staff

There are countless ways you can improve your business, and even more articles on how to do so. Tips range from “Be patient” to “Leverage 1099 subcontractors,” and range from incredibly vague to incredibly expensive. However, there are three low- or no-cost, backed-by-science ways for you to improve your business in a big way. Not only will they make your business more financially successful, but will make it more attractive to consumers and potential employees in ways that other businesses don’t.

1. Office diversity

Diversity in the workplace can come in many forms: gender, age, race, ethnicity, and more. While many workplaces suffer from a lack of diversity (for example, there are fewer female CEOs than there are CEOs named John, and only 1% of Google’s tech staff are black), there is research-backed evidence that diversity in the workplace leads to innovation, economic growth, employee satisfaction, and lower turnover rates. Input from people of different backgrounds is a recipe for a product or service that will best serve the ever-diversifying American population; the opposite is best demonstrated by a quote from
MIT economist Sara Ellison: “A baseball team entirely composed of catchers could have high esprit de corps, but it would not perform very well on the field.”

Homogeneity in the workplace leads to homogeneity of both business ideas and future hiring choices (people tend to hire those who are similar to them), but companies within the top quartile of racial and ethnic diversity exceed industry standards by a whopping 35%. Taking initiative to increase the diversity of your workplace is a win-win situation for everyone.

2. Sustainability

Thinking green when you incorporate your business is another great step you can take in increasing the success of your business. Not only does using energy-efficient appliances save you money, but fulfilling certain environmental standards can bring your company government funding.


Also, research has shown that 66% of people will pay more for a product or service that is sourced from a business that is committed to “positive social or environmental impact.” This means that people will choose your business over others that don’t have sustainable practices, even if your product or service costs more. Also, according to a study by the University of Massachusetts Dartmouth, employees derive more job satisfaction from working for green companies than working for financially successful ones.

3. Workplace Happiness

While there are many ways to improve office productivity, the underlying theme for most strategies is this: make your employees happy. Companies with happy employees outperform competition by 20%, and have 11x lower turnover rates. This can be done by many small things, such as maximizing natural lighting in the office, encouraging breaks, and treating employees as the complete humans they are: in other words, understanding that they, too, have lives outside of the office, and if they need to step out to pick their kid up from soccer practice, or come in late after a doctor’s appointment, they should be able to do so without fear of retribution.

While advice for improving your business abounds on the internet (varying from accounting advice to tips on improving SEO), if you aren’t addressing these three things, it may not make the difference you’re hoping for. You can’t run a successful company without happy employees and happy customers—but when the two line up, it will make it much easier for everything else to fall into place.

The Down Low on DBAs: Everything You Need to Know

Rachael, Direct Incorporation Staff

The term DBA stands for “Doing Business As,” and filing a DBA for a business or sole proprietorship allows you to use your DBA name, also known as the “fictitious business name,” “trade name,” or “assumed name,” when conducting business (instead of your legal business name). Most states require that you file a DBA statement before operating under the DBA name, as to not confuse or mislead customers who might otherwise be unaware that the DBA name is operated by the same company.

Why file a DBA?

The most common cause of DBA filings are sole proprietors who are looking to operate their business under a different name. If you’re a sole proprietor, your legal name is your business’ legal name (for instance, if Liz O’Connor does environmental consulting as a sole proprietor, her legal business name is “Liz O’Connor”). If you file a DBA, you are able to operate under a name that better represents your mission or purpose. Also, some banks may require that sole proprietors file a DBA in order to open a bank account for their business, and some corporations may require you to file a DBA in order to hire you for freelancing services.

However, DBAs are not limited to sole proprietors. Any corporation or LLC can file a DBA as well. This might be because you want to operate your business under a more creative or memorable name without changing the legal name of the business. It might also happen because you want to add on an additional product or service to what you already provide, and want to have a business name that accurately represents it. For example, if Liz owns an environmental consulting corporation, but decides she also wants to provide solar panel installation, she could file a DBA for “Liz’s Environmental Consulting and Solar Installation,” to make clear all the services she offers. Similarly, if Liz’s environmental consulting corporation also wants to offer financial consulting, she could file a DBA for the financial half of her business, and operate her financial consulting service under the DBA name (and her environmental consulting service under the legal business name).

Because of the ease and affordability of filing a DBA, it is possible to have a corporation or LLC that serves as the umbrella under which separate services are offered under different DBAs. This will eliminate the extra paperwork and expenses of creating new or subsidiary companies.

What are the rules?

If you file a DBA, you are still required to provide the legal name of your business on all government forms and applications, including applications for employer tax IDs, licenses and permits. For sole proprietors, it may not be necessary to file a DBA (it’s always good to double check) if your business name follows the format of “First Name, Last Name, Service” (for instance, “Liz O’Connor’s Environmental Consulting”); however, if Liz the sole proprietor wanted her business to just be “Liz’s Environmental Consulting,” this would require a DBA. It is also important to keep in mind that establishing a DBA does not establish a trademark on that name, and you should be careful to not infringe on any business name that is already taken or trademarked. There are also some limitations on the words used in your DBA name: for instance, it would not be acceptable for a trade name to include the words “Corporation,” “Incorporation,” “Inc.,” “LLC,” or “Corp.” if it is not in fact a registered corporation or LLC.

Once you’ve completed your DBA registration, your business is free to use the DBA name to open bank accounts, write checks, and use in promotional material. Neglecting to file a DBA before doing business under a different name could not only lead to penalties and fines, but potential lawsuits. It’s common for businesses to (either by will or by mandate) publish an announcement in a local newspaper about their DBA before doing business under that name, in order to provide transparency to the community.

If you have questions about filing a DBA, feel free to contact Direct Incorporation at 1-877-281-6496.

What’s an EIN? Everything You Need to Know

Rachael, Direct Incorporation Staff

Here is everything you need to know about your business’ federal tax ID, or EIN:

What is an EIN?

An Employer Identification Number, or more simply, a federal tax ID, is essential for starting a business. An EIN is a nine-digit number appointed to a business or organization by the IRS—kind of like a Social Security Number for your company.

The purpose of an EIN is to establish your business as a separate entity outside of yourself while filing tax returns for your business.

Why do I need an EIN?

It’s required for corporations and partnerships, businesses selling alcohol, firearms, or tobacco, for most LLCs and in some cases, sole proprietorships. In most cases it is also required for trusts, nonprofits, real estate investment entities, and cooperatives. If your business will be hiring employees—whether temporary or permanent—it is required that you obtain an EIN. However, even if it’s not required for your business, an EIN can provide specific benefits or opportunities. For example, it is a great extra step in order to protect against identity theft, and it will make opening a bank account for your business much easier.

If you’re a sole proprietor (even operating under a DBA) you are not required to obtain an EIN, and you will merely use your Social Security Number when filing taxes; however, if you would like to use an EIN, this will only help you in differentiating your business and personal finances. It should also be kept in mind that some banks require an EIN in order to open a separate business bank account.

How do I get an EIN?

Fortunately, obtaining an EIN is a short and simple process. If your business is located in the U.S., you can apply online through the IRS—but you must have a valid Taxpayer Identification Number (such as a Social Security Number or Individual Taxpayer Identification Number). If you apply online, you will be able to obtain your EIN immediately; via fax the process will take about a week, and by mail, up to four or five weeks.

When should I get a new EIN or cancel one that I have?

According to the IRS website, “Generally, businesses need a new EIN when their ownership or structure has changed.” This does not include changing the name of your business (but it does include forming subsidiary companies).

Regarding the cancellation of an EIN, there is no way to fully eliminate an EIN once it has been established. The EIN will remain the identification number for that business, regardless of whether the business ever started or if federal tax returns were filed under it; it’s never officially “destroyed” (or re-assigned, for that matter). This means that even years later, you can come back to your unstarted business and use the original EIN obtained from the IRS. However, if you decide you no longer want to use your assigned EIN number, you are able to close your business account linked to that EIN.

How Do I Change the Name of My Business?

Rachael, Direct Incorporation Staff

Have you already started a business, but are wondering how to go about changing the name? Here are five different ways you could go about making this change:

1. File a name change amendment

Filing a name change amendment with the Secretary of State is one way to change the name of your business completely. This will make it so that the old name is no longer associated with your business. But remember, it’s important to make sure that your new name is available for use in your state. Here’s an example for a fictional “Liz O’Connor,” who runs an environmental consulting business:

2. File a DBA

This stands for “Doing Business As.” Though this option is not limited to them, it is useful for sole proprietorships. As a sole proprietor of a company, your name and your business name are legally the same (and the same is true for general partnerships). For example, for Liz O’Connor the environmental consultant, her business name would be “Liz O’Connor, Environmental Consultant” before filing a DBA. Filing a DBA allows you to transact business under the DBA name (such as H2O’Connor Consulting) instead of your personal name. This can also be done merely to make a business name more simple and/or recognizable, instead of having to use the formal name for the company.

3. Register a trademark

Registering a trademark for a logo, phrase, or word for your company allows you to use that logo or words to build the identity of your business. While the actual business name is not changed by trademarking, people will recognize your business by its different words or symbols. For instance, anyone is able to see the word “Nike,” the words “Just Do It,” or the Nike swoosh logo, and know exactly what brand it is. Registering a trademark also has the added benefit of securing a name, logo, or phrase on a national level.

4. Create a subsidiary company

If you would like to keep the name of your business, but want to add on a separate service or product under a different name, another route you could take is creating a subsidiary or “daughter” company. A subsidiary, though owned by the parent company, operates as a separate entity with its own liability and bylaws. For instance, if Liz O’Connor also wanted to provide solar panel installation for clients, she could create a solar panel installation subsidiary while still maintaining her environmental consulting business.

5. Form a separate corporation or LLC

Lastly, if the reason you are looking to change your business name is because you are offering a completely different product or service, another option is to form a separate corporation or LLC. This means starting fresh and creating something completely new.

Direct Incorporation can help with all of these name change options—if you’re interested, visit directincorporation.com or call 1-877-281-6496 to learn more.

5 Reasons To Use a CPA for Your Small Business

Rachael, Direct Incorporation Staff

CPAs, or Certified Public Accountants, are a valuable asset to any business. A CPA is more than just a regular accountant—they’ve been licensed through vigorous examination that includes knowledge of tax codes and gives them the ability to represent you before the IRS. They’ll be able to help you with financial planning, analysis, taxes, and more. If you’re wondering whether a CPA is worth it, here are some signs that it might be a great addition for your company:

1. You need help writing your business plan

If writing a business plan is not something you’ve had experience with before (and even if it is), having the extra assistance of a CPA can take your business plan to the next level. They can assist with financial projections and creating a realistic and professional plan for your company.

2. You need help figuring out the legal structure of your business

If you’re not sure whether you want to form an S-Corporation, C-Corporation, or LLC (or even a nonprofit), having a CPA will help you figure out which structure will make the most financial and legal sense for your business.

3. Your business is growing quickly

If your business is undergoing (or has recently undergone) rapid growth, the additional customers and employees you’re now dealing with will necessitate more paperwork and financial analysis, not to mention the fact that now you probably have even less time to deal with the accounting that a CPA could do for you (and more efficiently, too). Also, if you’re looking to expand into another state, a CPA can make sure you’re abiding by the state’s employee and income tax laws.

4. You’re not sure why your profit is stagnant

If your company’s revenue has continued to climb, but your profit has stayed about the same, a CPA can help by advising you on how to adjust your spending in order to increase profit margins.

5. You just don’t have time

Running a business is a lot of work, and while you might think that a CPA isn’t worth the money, stop and think about how much money your time is worth. If you’re spending hours dealing with accounting and deciphering tax requirements, you’re losing hours doing other work that could be bringing in more revenue. If you’re losing out more by doing the work yourself, it’s a good idea to leave the task to someone who is more certified to get the job done.

What to Do Now if You’re Incorporating in the New Year

Rachael, Direct Incorporation Staff

If you’re planning on incorporating your business early next year, now is the time to make sure that you have things ready (or almost ready) to go. Here’s a list of some of the items that are very important in your next three months of preparation:

Solidify your idea

First, make sure that this is really the business you want to start. Make some tweaks if you need to—it’s not too late to change things. Importantly, make sure that this job is something you’re still going to want to be doing for years to come.

Research your competition

It’s important to know what’s already out there, and how you can make your business better. It’s pretty difficult to come up with a 100% original business idea, so you should be able to find others who are doing something similar. Researching these businesses (especially those that are successful) is a great way to make sure you start off with a better grip on what you’re getting into.

Make sure the name is available

This is a super important step for two reasons. First, you don’t want to be guilty of trademark infringement, which has the potential to ruin a business. Second, you don’t want to spend months figuring out how to market your new name, including designing a logo, only to figure out that someone else has already claimed the name and your creative energy has been wasted.

Survey your target market

It makes sense for you to think that your business idea is awesome; you came up with it and you find value in the goods or service you want to provide. However, not everyone thinks like you, so if you want your business to be marketable, make sure that you get feedback from the kind of people you’d be targeting. If there’s an overwhelming negative response toward part of your plan, it probably doesn’t mean that just the people in your sample feel this way. Take their feedback seriously—it’s okay for your original plan to not be perfect.

Find your tax and legal advice

Getting both tax and legal advice is a good idea for anyone who hasn’t started a business before. Using an accountant or QuickBooks will ensure that you haven’t missed anything financially, and an attorney or other legal service will give you peace of mind that you’re not defying any regulations.


According to a 2014 Philadelphia survey, 85% of small business owners get customers through word of mouth. It’s imperative that you establish a network of people with some interest in your business or who will also be willing and able to spread the word about it. This is a time where social media plays a huge role. Make sure that your target market knows what’s coming for them far in advance, and get them excited for it!

Get excited

And of course, you should be excited too! Starting a business is no small feat. Be proud of yourself for getting this far, and start out your journey with optimism for your future accomplishments.

Is Your Business Too Small to Incorporate?


Whether you’re still in the idea stage of your business or are already operating out of your home, you might be wondering if your business is too small for you to take the next step and incorporate. But the thing is, you may be overestimating the size or profitability your business needs in order to file for registration. If any of these apply to you, you might want to think about filing for a corporation, LLC, or non-profit organization:

It’s more than just a hobby

If you’re bringing in $30,000 a year from your Etsy account, that’s more than just selling your crafts as a hobby. The same goes for Ebay or other online vending sites. If you’re making a job-worthy profit, you should make it an official business. Registering your business will not only give you more credibility, but will also give you liability protection and tax benefits.

You’re selling food or drinks

If you’re selling homemade food or drinks, your business needs a Food and Drink License, which means that you need to have a legally established business in the first place. This is another realm where both liability protection and credibility play an important role in the success and protection of your business.

You’re entering people’s homes/people are entering your home

If you’re running a bed and breakfast from your house or a housekeeping service to clean the houses of others, this means that either people are entering your home or you are entering theirs. This has the potential to bring a huge amount of liability to you, and establishing your business as a separate legal entity is not only good for you but good for your clients. They’ll trust you more, and again, you’ll gain tax benefits from establishing your business.

You’re operating a charity

If you’ve started a charitable foundation, you’re going to be benefiting others as well as yourself if you register as a non-profit. If you qualify as a 501(c)(3), you’ll be elligible for federal exemption from corporate income tax, as well as state and local income taxes. And of course, people are far more likely to donate to a charity with legal credibility.

For the most part, people will expect any kind of profitable business to be registered, as it validates the trustworthiness of the company. If you’re wondering whether you should take the step and file for incorporation, LLC formation, or non-profit formation, call Direct Incorporation at 1-877-281-6496 today!

The Importance of a Good Logo for Your Business

Rachael, Direct Incorporation Staff

If you’re in the early stages of starting a business, something you might be thinking about is what you’re going to do for arguably the most important part of distinguishing your brand: your logo. While it might not seem like a deal breaker for your business, the quality of your logo can make a huge impact on the success of your company. It’s essential that it be both attractive and unique in order to capture and retain the attention of your customers. Here’s why:

1. Recognition

Your logo is one of the first things your customers and clients will notice about your business. If your logo is something that is easily recognizable, people will remember it and automatically associate it with your company. Think of the Apple logo: the simple apple silhouette is now one of the most-recognized logos in the world. Having unique logo will cause people to immediately recognize and remember your business.

The most recognized logos in the world

2. Professionalism

Having a good logo is essential to establishing the legitimacy of your business. If you have a logo that looks like a third-grader drew it on MS Paint, it’s likely that people will not take your business seriously. Running a business without a logo entirely is also likely to lead to doubts about the legitimacy of your company. In this realm, it’s important to think about the cost of a cheap logo design versus the cost of redesigning a cheap logo. Kind of like a tattoo, it’s worth it to spend the money upfront on a job well done rather than spend more money later in an attempt to fix the original.

What the difference between a good and bad logo can look like

3. Showing your values

A logo is a way for people to quickly understand what your business is all about; the design of it can convey more than you think. Here’s a loose guide to what specific colors tend to signify in logos (hint: if you’re running a massage parlor, it might not be a great idea to have a bright orange and red logo).

-Red tends to signify: action, passion, trust, love, intensity, or aggression
-Blue tends to signify: comfort, faith, confidence, or calm
-Yellow tends to signify: joy, energy, life, or freshness
-Green tends to signify: relaxation, trust, peace, hope, nature, or sustainability
-Purple tends to signify: glamour, power, royalty, romance, or introspection
-Orange tends to signify: enthusiasm, creativity, or determination
-Black tends to signify: bold, seriousness, or luxury

Any pictures associated with your logo are also important to conveying a message: specific symbols are so ingrained in our culture that they can either add immensely to your message or unintentionally convey something else (for example, it wouldn’t make much sense to incorporate hearts into the Harley Davidson logo).

Logos that just aren't the same in a different color

Ensuring that you have a good logo is just one step of many when incorporating your business, but it is not one to be overlooked. Direct Incorporation’s design team can help you out by designing a custom logo for you today! Visit directincorporation.com for more information.

The 5 Best TED Quotes on Leadership

Rachael, Direct Incorporation Staff

If you ever need a dose of motivation, inspiration, or just some good advice, listening to a TED talk will rarely disappoint. Yet with over 2,400 of the talks available for free online, your chance of stumbling upon just the talk you need is pretty slim. That’s why I’ve done the work for you, scouring TED talks about leadership and business to compile an official list of the best leadership-related quotes available from TED.

Running a business means that you are not only your own leader, but potentially the leader of one or more others. And as I’m sure we have all been under some form of leadership before, we can attest to the fact that a leader can either make or break an organization.

In order to make sure you don’t do the latter, here are messages from five different TED talks that discuss what makes a great leader:

1. Simon Sinek: How great leaders inspire action

There’s a reason that this talk by Sinek is one of the most-watched TED talks ever. He uses a simple, three-circle drawing to show how to completely change the way you send a message about your business. The basis is that the human brain is biologically set up like the image above: handling thoughts of “Why?” in the center, “How?” outside of that, and “What?” on the periphery—and that in order to inspire action, we need to work in the same way as peoples’ brains. While this is a long excerpt, it’s important to see all of the pieces before the end message:

“Every single person—every single organization on the planet—knows what they do. Some know how they do it. But very, very few people or organizations know why they do what they do. And by why I don’t mean ‘to make a profit.’ That’s a result. By why, I mean What’s your purpose? What’s your cause? What’s your belief? Why does your organization exist? Why do you get out of bed in the morning? And why should anyone care?

“As a result, the way we think, the way we act, the way we communicate is from the outside in. We go from the clearest thing to the fuzziest thing. But the inspired leaders and the inspired organizations—regardless of their size, regardless of their industry—all think, act, and communicate from the inside out. Let me give you an example: I use Apple because they’re easy to use and everybody gets it. If Apple were like everyone else, a marketing message from them might sound like this:

We make great computers. They’re beautifully designed, simple to use, and user friendly. Want to buy one?

“And that’s how most of us communicate. That’s how most marketing and sales are done, and that’s how most of us communicate interpersonally. We say what we do, we say how we’re different or better and we expect some sort of behavior: a purchase, a vote, something like that.

“But it’s uninspiring. Here’s how Apple actually communicates:

Everything we do, we believe in challenging the status quo. We believe in thinking differently. The way we challenge the status quo is by making our products beautifully designed, simple to use, and user friendly. We just happen to make great computers. Want to buy one?

“Totally different right? You’re ready to buy a computer from me. All I did was reverse the order of the information. What it proves to us is that people don’t buy what you do; they buy why you do it. This explains why every single person in this room is perfectly comfortable buying a computer from Apple. The goal is not to do business with everybody who needs what you have. The goal is to do business with people who believe what you believe. And the goal is not just to hire people who need a job, it’s to hire people who believe what you believe.

2. Stanley McChrystal: Listen, Learn…Then Lead

This quote is short and simple, but conveys an incredibly important message.

McChrystal speaks about his time in the Army, and when, during one of his training exercises, he failed his mission and was then forced to sit and watch a replay of everything he did wrong. He felt terrible about how poorly he’d done, and after the session he approached his battalion commander to apologize. Yet as he walked over, his head hanging in shame, his commander said to him, “Stanley, I think you did great.” And in that moment he realized that “Leaders can let you fail, and yet not let you be a failure.” While someone may be disappointed that you fail, they are a true leader if they recognize that one failure does not define a person, and they continue to provide encouragement and support in order to help you grow.

3. Drew Dudley: Everyday leadership

Dudley’s talk was inspired by a personal experience. He struck up a conversation with someone and, four years later, she approached him and told him that that simple conversation had changed her life. And the thing is, he doesn’t even remember it. This then made him realize that our society needs to redefine they way we see leadership:

As long as we keep leadership something ‘bigger than us,’ as long as we keep leadership something ‘beyond us,’ as long as we keep it about ‘changing the world,’ we give ourselves an excuse not to expect it every day from ourselves and from each other. Marianne Williamson said,

‘Our greatest fear is not that we are inadequate, it is that we are powerful beyond measure. It is our light and not our darkness that frightens us.’

“My call to action today is that we need to get over our fear of how extraordinarily powerful we can be in each other’s lives. We need to get over it so we can move beyond it, and our little brothers and sisters and one day our kids—or our kids right now—can watch and start to value the impact we can have on each other’s lives, more than money and power and titles and influence. We need to redefine leadership as being about [those small, life-changing] moments—how many of them we create, how many we acknowledge, how many of them we pay forward, and how many we say thank you for. Because we’ve made leadership about changing the world, and there is no world. There’s only six billion understandings of it. And if you change one person’s understanding of it, of what they’re capable of, of how much people care about them, of how powerful an agent for change they can be in this world, you’ve changed the whole thing. And if we can understand leadership like that, I think we can change everything.”

4. Sheryl Sandberg: Why we have too few women leaders

There’s a reason I’ve placed this quote near the end of the list. When searching through these leadership and business-oriented TED talks, the speakers for the most part were like the three above: men. There was a noticeable scarcity of women, and Sheryl Sandberg, the COO of Facebook, explains why:

“Women systematically underestimate their own abilities. If you test men and women and you ask them questions on totally objective criteria like GPAs, men get it wrong slightly high, and women get it wrong slightly low…No one gets the promotion if they don’t think they deserve their success, or they don’t even understand their own success. I think that a world where half of our countries and half of our companies were run by women would be a better world.

5. Reshma Saujani: Teach girls bravery, not perfection

Saujani provides further discussion on this topic, attributing our dearth of female leaders to the socialization of girls from a young age.

We’re raising our girls to be perfect, and we’re raising our boys to be brave. Some people worry about our federal deficit. But I worry about our bravery deficit. Our economy is losing out because we’re not teaching our girls to be brave…[this is] why women are underrepresented in STEM, in C-Suites, in boardrooms, in Congress, and pretty much everywhere you look.”

She goes on to talk about a study where fifth grade girls and boys were given a challenging test. The higher the IQ of the girls, the quicker they were to give up, while the higher the IQ of the boys, the more likely they were to find the material “energizing” and redouble their efforts. Also, research has shown that men will apply for a job if they only meet sixty percent of the qualifications, but women will only apply if they fit one hundred percent.

“This study is usually invoked as evidence that women need a little more confidence. But I think it’s evidence that women have been socialized to aspire to perfection, and they’re overly cautious. And even when we’re ambitious, that socialization of perfection has led us to take less risks in our careers. Our economy is being left behind on all the innovation and problems women would solve if they were socialized to be brave instead of socialized to be perfect…When we teach girls to be brave and we have a supportive network cheering them on, they will build incredible things. They will build a better world for themselves, and for each and every one of us.”

Regardless of your gender, you are capable of being brave. You are capable of being a leader in the smallest of moments. You’re capable of bringing a team together to accomplish something you believe in. You’re capable of believing in your teammates even if they fail. You’re capable of believing in yourself. These five things mean you’re capable of being a leader, and the kind of leader that makes, rather than breaks, a team. Now it’s time to go out and show it.

Why You Should Start a Business, According to Science



It looks like being an entrepreneur can be pretty good for your overall health. Here are three reasons (backed by research) that you should consider making the move to incorporate your business:

1. You won’t have to wonder “What if…?”

Research shows that people who are nearing the end of their lives are four times more likely to regret not doing things that they wish they had versus doing things that they wish they hadn’t. If we live our lives attempting to take as few risks as possible, we might feel more secure, but we may also have to live with a nagging feeling that we missed out on something. If what’s holding you back from starting a business is the thought, “What if I fail?” and you let that stop you, then you might just look back at the end of your life and wonder, “What if I had succeeded?”

2. You’ll learn something new

Living as an entrepreneur means that you are learning new things on a daily basis. Yes, this means you’ll make mistakes. But most people can agree that learning from our own experiences is the best way to really figure something out. You’ll be challenged in new ways that you might not have guessed, and you’ll build new skills and strengths both in and out of the office. And yes, research shows that continuing to learn throughout your life is another way to increase your mental wellbeing.

3. You’ll wake up and actually want to go to work

Creating a career out of something you are passionate about will make you wake up and be motivated to go to work. Being an entrepreneur means that you can pick something that you truly care about and turn it into your everyday job. Sure, not everything about being an entrepreneur is particularly fun or easy, but working a job you care about brings a sense of purpose into your life. And guess what? Research shows that people who have a sense of purpose not only have a greater sense of wellbeing, but might actually live longer as well. It looks like this entrepreneur thing is pretty promising for a healthy future.