Steps to Properly Structure a Business

The American Dream is to start your own successful business since it is one of the only ways to become wealthy. The one downfall is the majority of new businesses fail due to a lack of capital and/or because the steps were not taken to properly setup the business in the beginning.

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20 Steps to Properly Structure a Business

1. Establish a business presence

2. Choose a business name
3. Choose a legal entity and file appropriate documents
4. Develop a business plan
5. Obtain a tax identification number
6. File licensing, permit and tax documents
7. Draft operating documents for the business
8. Obtain business insurance
9. Establish business phone system and directory listings
10. Establish an email and web presence
11. Create business collateral materials
12. Open a business bank account
13. Setup accounting and record-keeping system
14. Start your marketing efforts
15. Systemize your business
16. Run your business
17. Keep your business in good standing
18. Establish trade references that report to business credit bureaus
19. Monitor your credit files and update references
20. Obtain the capital and financing your business deserves

Sign up for our free guide to building business credit , by filling out the form on the right, and you will instantly receive a description of each of these steps to ensure you are doing everything possible to properly setup your business to receive business credit without a personal guarantee.

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