Nellie and her husband, Phil started their first incorporation business in 1997 while they were attending law school. They were surprised by the overwhelming demand for their honest, time-saving, and affordable incorporation services. In 2005, they sold their business to Intuit (for $20 million dollars) and retired, but, after their three-year non-compete agreement was up they decided to start their second incorporation business, CorpNet.com.
Read about her amazing entrepreneurial journey!
Tell us a little bit about yourself and your entrepreneurial journey.
I am an Internet entrepreneur and CEO & Founder of CorpNet.com, my second incorporation filing service based on the simple philosophy of truth in business and my strong passion to assist small business owners and entrepreneurs in starting and protecting their business. Through the various “Do-It-Yourself” and “Business-Startup” services I have founded since 1997, I’ve formed over 100,000 corporations and LLCs for small business owners.
My last company, MyCorporation.com was acquired by Intuit in 2005. Today, my husband Phil and I, operate CorpNet.com where we help small business owners establish their businesses and submit their legal filings in any state across the U.S.
As CEO of CorpNet.com, I am a strong advocate for educating small business owners and entrepreneurs about the importance of protecting their personal assets. I enjoy discussing legal and business issues concerning everything from business startup through acquisition.
I am also responsible for overseeing and managing the daily operations of the business.
How did you fund your incorporation business?
My husband and I funded our current company in addition to all of our previous companies with funds from our saving account; we have never had any outside help from any investors or venture capitalist firms.
How many hours do you work a week and how much is spent in your home office?
Being a working mother of four, I work 30 hours per week in the office and about 20 hours from home … so a total of 50!
I rate my success based on the fact that I love what I do each and every day by assisting small business owners and entrepreneurs make their dreams into reality which is very fulfilling for me. What I know for sure is and like Oprah Says …
“That if you want to have success, you can’t make success your goal. The key is not to worry about being successful, but to instead work towards being significant – and the success will naturally follow … If you do work that you love, and work that fulfills you, the rest will come. And, I truly believe, that the reason I’ve been able to be so financially successful is because my focus has never, ever for one minute been money. I would do this job and take on a second job just to make ends meet if nobody paid me. That’s how I know I am doing the right thing.”
What has been your biggest business struggle as an entrepreneur?
Aligning the business tasks that I enjoy doing the most with the “must do” business tasks that make the business profitable…
What advice would you give to a new entrepreneur?
Again I would say if you want to have success, you can’t make success your goal. The key is not to worry about being successful, but to instead work toward being significant – and the success will naturally follow.
In a nutshell, here are some tips for any start-up:
- Live within your means and don't be afraid to start small
- Don’t dwell on your least favorite tasks
- Learn to say no
- Don't overlook the legal bureaucracy
- Don’t forget to celebrate each success
How do you manage all of your personal and business activities?
I am extremely well organized, I multi-task very well, I never leave stuff for the last minute and I always plan ahead and make time for myself even if its 5 minutes per day.
Thanks to Nellie Akalp for sharing her story!