So yeah, I got the LLC, EIN, business bank account, the whole setup. The problem is I don't actually have anything to sell yet. No product, no customers, not even a clear idea. I did it because I kept reading 'just start' and got impatient. Now I'm paying annual fees on a shell. Am I an idiot or is this normal? Has anyone here done this and actually figured it out later?
LLC
I formed my LLC before having a product or customers
Not an idiot, but you definitely jumped the gun. An LLC is just a container. It doesn't create a business. I'd park it and focus on finding something people will actually pay for, not the other way around.
i did the exact same thing in 2019. Paid the fees for almost two years before I used it. Ended up being fine because I just kept it active and later pivoted into something. But the pressure I felt was self-inflicted. Nobody cares about your LLC except the state.
Honestly the annual report fee is the only real cost in most states. It's like $50-100. Not the end of the world. The bigger issue is you might have needed different paperwork or a diffeernt business if you'd waited. But you can always dissolve.
The part that kills me is the 'just start' advice is usually about doing something, not filing paperwork. The LLC is the boring admin part. You essentially started the filing system, not the company. But whatever, it's done.
Also careful about the bank account. Some banks get twitchy if there's zero activity for a while. Keep a tiny amount in there.
This is exactly why I haven't formed one yet. I keep going back and forth. Is it better to wait until you have a product or just get it out of the way? Every article online says something different.
Depends. If you're not doing anything risky or hiring, you can just operate as a sole prop for a while. But some people sleep better having the liability shield. It's not a magic shield though.
OP, you're overthinking. Half the people on this forum probably have an LLC with no revenue. You're in good company. But get off the forum and go talk to potential customers. That's the actual work.