Startup Stories: How I Made MyCorporation Mine

MyCorporation

Tell us about your entrepreneurial product or service.
Stay with me here – MyCorporation is an online business document filing services company. And while it doesn’t sound like the most exciting field to read about, it is an industry I'm extremely passionate about because it allows me to help entrepreneurs follow their dreams and start their own businesses.

What inspired you to launch your business idea?
I actually didn't found this business – a law school classmate created MyCorporation at the tail end of the dot-com boom at the end of the nineties, and sold it in 2004 to Intuit. I've just been working here in one way or another since it was founded. However, by 2008 Intuit was having trouble with MyCorporation. The economy was beginning to sputter and businesses just weren't doing as well. And, while Intuit is a great company, larger, corporate structures move much slower than you think. They just couldn't adapt to changes quickly enough. So after talking with my husband, we decided to take a gamble – we would mortgage my house and I would buy the company. Even though it was a huge risk, I knew it was the right thing to do. MyCorporation had become a major part of my life, and I knew I could bring it back to its former glory. Intuit agreed to the sale, and I took the reins. MyCorp has been doing great ever since.

What problem does your business or organization solve?
MyCorporation was founded to make the lives of small business owners easier by lowering the barriers of entry that block so many from pursuing their own entrepreneurial dreams. Wanting to start up a business, but not knowing where to start, can be extremely discouraging. We help guide them through the process and file for everything they need to turn their idea into a company, whether that just means filing for a DBA name, or turning their business into its own separate legal entity by filing their Articles of Incorporation or Certificate of Organization with the state.

What has been your biggest challenge as an entrepreneur and how are you working to overcome it?
Balancing my professional life with being a mother. From the minute I began thinking about buying MyCorp, my two sons have simultaneously been a source of concern, and of inspiration. My husband and I had just started our family when I thought about mortgaging our home to buy the business, and the gamble was monumental. What if MyCorp didn't do well on its own? Where would my family go if we lost the house because of a choice I made? At the same time, I knew that, if this gamble paid off, it would really help provide a great life for my family, and would allow me to spend more time with my sons. I will never perfect this balancing act, but as time has gone by I've learned how to seamlessly slip out of executive mode and into mommy mode whenever needed.

Give us one word that people might use to describe you.
Driven!

How has Project Eve helped you and/or your business?
Communities like Project Eve are an invaluable resource to entrepreneurially minded women. The “businesswoman” as a whole is still a recent phenomenon, and while women are slowly carving out a piece of the corporate world, it’s still predominantly a boy's club. We still lack the network of support that only generations of business mentorship could create. One day, women will have access to a much wider support base, and communities like Project Eve will largely be to thank for that.

Give us an insider tip that relates to your industry or startup story.
Forming a limited liability company or incorporating is one of the best things you can do to protect yourself and your personal assets. Turning your business into its own, separate legal entity allows it to carry its own debts and be the target of lawsuits, which gives you a bubble of protection that really helps ease your mind.

Company: MyCorporation

Website: http://www.mycorporation.com

Follow my organization on social media here:
@deborahsweeney
https://www.facebook.com/MyCorp
https://plus.google.com/101517830013120964531

Inspired Yet? Need More Startup Stories? Try These:

Startup Stories: Enyo Jewelry

Startup Stories: A Journey to Professional Organizing

Startup Stories: Because Together We Can

Startup Stories: Working Mothers Revolution

Please submit your story to the largest archive of entrepreneurial startup stories in the world so, together, we can motivate women in business to think beyond traditional boundaries, support one another, embrace change and view challenges as opportunities. Whether you are a small business owner, a freelancer, a serial entrepreneur, own an online business, operate a storefront on Main Street, or even moonlight with an amateur blog our 350,000+ community would like to hear your Startup Story! Answer seven short questions to create a blog of your story today!