We recently connected with Stefanie Magness and have shared our conversation below.

Stefanie, appreciate you joining us today. Alright, so you had your idea and then what happened? Can you walk us through the story of how you went from just an idea to executing on the idea

For many years, I had been encouraged by family and friends to start my own business and go out on my own. I was told that I was good at helping people move the needle. When my cushy 6-figure job was eliminated, I used this opportunity to start my own business as many had told me I should have done. But where do I begin? What business would I have started? In a phase of trial and error, I tried various ideas—using my experience in business management to help entrepreneurs become good managers; that idea wasn’t in high demand. During the pandemic, I saw the need for entrepreneurs looking to start legit businesses because of the vast opportunities that come with it. So then the wheels of my idea moved out of the ditch and got on the road for the long business journey. Along the way, my own needle moved from idea to execution.

For six months, I researched what kind of services I would offer my now-running Legit My Biz service. I went to networking events, talked to entrepreneurs about their needs and recorded my ideas on pieces of paper. By month nine, I had my website up and running. I also did some research—especially data from the SBA (Small Business Administration) on why businesses fail—to create a demand for my services.

After I was fully launched, I began promoting my services on social media platforms, and had free Q&A sessions where I landed my first 4 clients. From there, I worked with over 100 entrepreneurs and because of my success landed two contracts with business development centers helping entrepreneurs go from ideation to execution. Three years later, I have not looked back since. Full speed ahead!

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers

I founded my consulting business in November 2019 to help people with their startups. Then COVID-19 hit, and there were so many relief funds out there, but most small businesses were being denied because they didn’t have a viable business. The reason they were refused aid wasn’t because their businesses weren’t viable but on paper, they appeared illegitimate: most lacked proper documentation to be qualified for any relief aid.

A lightbulb went off in my head. I discovered the problems people face when starting a business, and I came up with Legit My Biz—a program that helps entrepreneurs go from entrepreneur to legit entrepreneur so they can prepare themselves for opportunities like loans, investors, grants, business certifications, and accreditations.

I help entrepreneurs become legit by assisting them with my business and consulting experience. I have a law degree and I am currently working with the DC Small Business Development Center and DC Women’s Business Center. I can use my legal education and experience in government relations to help entrepreneurs maneuver through government operations and cut most of the red tape.

I am proudest of the fact that I have helped dozens of business owners get their businesses back in good standing with their state, a result of lack of knowledge or disorganization on their part.

In my business, I serve entrepreneurs with the vision to build their businesses and improve their lives. I help them get unstuck and create a blueprint for success that is customized for their specific needs.

What makes me different is my genuine desire for people to succeed in business. I know what it’s like to start a business, be alone and struggle so I work hard to make your business better. The reason why I have authored two books: Business Hacks…60 Tools for Success and the LLC Owner’s Manual. I have spread my message of legitimacy in several media outlets and I believe if just touch one person with my message of legitimacy, then I have done my job.

Have you ever had to pivot?

When my last employer eliminated my position, I decided to start my own business. Three months later, a major pandemic hit the world and the economy took a dive. There wasn’t much need for what I planned to offer—business coaching—so I had to make a move fast. Then an opportunity presented itself: Business owners were contacting me for help with relief fund applications because they were getting turned away. This situation presented an opportunity to help these entrepreneurs get their act together by helping them apply for relief funds. In this way, my misfortune of being laid off allowed me to help over 200 entrepreneurs in three years’ time.

How did you put together the initial capital you needed to start your business?

I made a bold decision and took my severance money from the elimination of my position to start my own business. I cashed out my 401k, used up all my PTO leave and a federal tax refund to start my own business in full throttle.

Contact Info:

• Website: www.legitmybiz.com
• Instagram: https://www.instagram.com/legitmybiz/
• Facebook: https://www.facebook.com/legitmybiz/
• Linkedin: https://www.linkedin.com/in/stefanie-magness-49552749/