Book Review: “Start Your Own Corporation” by Garrett Sutton

I recently finished reading Start Your Own Corporation by Garrett Sutton. I found this book through reading Rich Dad Poor Dad by Robert Kiyosaki, which I had written a book review for.

For those who haven’t read Rich Dad Poor Dad, the main message of the book is that the truly rich derive their wealth from owning cash-generating assets, while everyone else trade their time for money in the form of a salary.

Rich Dad Poor Dad, however, is more big picture and doesn’t get into the technical details of actually starting your own businesses and building your portfolio of assets, which is why Kiyosaki recommended the works of Garrett Sutton.

Start Your Own Corporation is essentially a practical guide to the principles behind Rich Dad Poor Dad. It discusses the legal and technical details of how to start your own business entity, and offers advice on how to get your company off the ground.

For those who are new to business, Start Your Own Corporation is a helpful guide to starting your own company. In addition to covering the legal and technical basics of starting a business, it also goes over details such as which state(s) to incorporate, how to raise funds for your company, corporate formalities, business tax deductions, and other topics that would be of interest for business owners and entrepreneurs.

The most important part of the book for aspiring business owners is the first three chapters, which cover the list of business entities in the United States and explain why it is important to structure your company as a legal business entity in order to protect your assets and limit your liability. The menu of business entities in the United States include:

• C corporations
• S corporations
• Limited liability companies (LLCs)
• Limited Partnerships (LPs)

The book explains in detail each one of these entities, helping the reader understand which would work best in which situations. Knowing which business entities are available to you and how each one works is essential for every entrepreneur, which is why I consider the first three chapters incredibly important.