Entity Start-up Checklist
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ENTITY START UP CHECKLIST PRESENTED BY
MIRAGE GLOBAL START UP CHECKLIST
We understand as to how challenging starting a new entity could be for you as an entrepreneur. To assist new businesses we have created a series of checklist to guide you through the process and make your start up process simple. This checklist can also be used by mature businesses to realize their potential and ensure that they are covering all bases. Mirage Global can assist you with various items within this checklist or can get to you to one of their affiliate firms in providing quality, efficient service at competitive pricing. For details contact [email protected] We have divided the checklist in various categories for effectiveness of entity start up and ease of understanding for entrepreneurs.
ENTITY INCORPORATION GENERAL FINANCIAL PLAN START-UP EXPENSES BUDGET MONTHLY OPERATING EXPENSES PROFESSIONAL SERVICE PROVIDERS AGREEMENTS PLANS CORPORATE COMPLIANCE AND GOVERNANCE MODELS COMPANY PROCESSES MARKETING OFFICE SPACE CHECKLIST EQUIPMENT CHECKLIST INSURANCE INFORMATION TECHNOLOGY SERVICE AND PRODUCT
2
ENTITY START UP CHECKLIST | Email: [email protected]
ENTITY INCORPORATION
Select Entity Type (C Corp, S Corp, LLC, LLP, LP, etc.) Select State for Incorporation Select Legal Name for your business Select Legal Address / Registered Address for your Business File Articles of Incorporation / Organization with Secretary of State File Employer Identification Number (EIN) with IRS Get State IDs (if required) Get DOL# (if hiring employees) Open Bank Account Order Corporate Kit / Legal Seal / Certificates, etc. Prepare Bylaws / Operating Agreement File Form 8832 with IRS (if applicable for treating entity differently for tax purposes) Get Required Business Licenses Register with Dun & Bradstreet (if needed)
GENERAL
Prepare Organization Chart with Roles & Responsibility Create a Vision Statement for your Organization Create your Corporate Mission Statement Order Business Phone / Online Fax Register your company domain (if planning to have a website) Create Basic Email addresses such as [email protected] Create Company Logo Create Business Cards Order Basic Stationary Create Marketing Brochures / Catalogs
FINANCIAL PLAN Prepare Start-Up Capital Requirements Prepare Working Capital Requirements (next 6 months expenses preferred) Create Financial Cash Forecast for next 1 year on monthly basis 3
ENTITY START UP CHECKLIST | Email: [email protected]
Create Financial Forecast for next 3 years on annual basis Create Accounts Receivable Strategy Create Reminder for important deadlines such as Quarterly Estimated Taxes, Annual Taxes, Payroll Taxes (if applicable), Business License Renewal, Franchise Taxes (if applicable), etc. Open Business Credit Card / Apply for Line of Credit Determine if you need Venture Capital Funds / SBA Loans / Bank Financing
START UP EXPENSES BUDGET
Office Furniture Computers Printer / Copier / Fax / Scanner Office Software Business Phone Line Installation Fee Telephone Office Supplies Stationary Business Cards Printing (Marketing Materials / Brochures) Website Setup Costs (design, domain name, etc.) Business License / Fees Professional Consulting (Management Consulting, Lawyers, Accountants, etc.) Other Expenses
MONTHLY OPERATING EXPENSE 4
Salaries Benefits Rent (or portion of mortgage) Office Supplies Telephone Internet Service Postage & Courier Travelling Expense (including mileage) ENTITY START UP CHECKLIST | Email: [email protected]
Insurance Costs Membership Dues Printing Materials Marketing Expenses Web Hosting Magazine Subscription / Professional Literature Training and Conferences Legal and Accounting Services Banking Expenses Entertainment Taxes Other
PROFESSIONAL SERVICE PROVIDERS
CONSULTING FIRM – MIRAGE GLOBAL CPA / ACCOUNTING FIRM LEGAL / ATTORNEY FIRM MARKETING / PR FIRM BANKING FIRM INSURANCE FIRM HUMAN RESOURCE FIRM / RECRUITERS
AGREEMENTS
Employee Agreement Contractor Agreement Advisory Group Agreement (if applicable) Teaming / Reseller Agreement Non Disclosure Agreement (NDA) Non Compete Agreement Non Circumvent Agreement Master Service / Service Agreement License Agreement (if applicable) 5
ENTITY START UP CHECKLIST | Email: [email protected]
Arbitration Agreement (Integrity Agreement) Accounts Receivable Security Agreement Buy-Sell Agreement Partnership Agreement
PLANS
Business Plan Marketing Plan Financial Plan Operational Plan Employee Stock Option Plan
CORPORATE COMPLIANCE AND GOVERNANCE
Select Board of Directors Select Advisory Board Create List of Officers Certificate of Resolution (Issuance of 1244 Stock) by Board of Directors Share Allocation Certificate of Share ownership for Buy/Sell Notice of Corporate Shareholder Meeting Minutes of Annual Meeting of Shareholders and Directors Receipt for Shares of Stock Resignation of Directors / Officers
MODELS
Business Model Operational Model Revenue Model Pricing Model
6
ENTITY START UP CHECKLIST | Email: [email protected]
COMPANY PROCESSES
Select Document Management System Select Accounting / Payroll System Select Time Tracking for Employees Select Time & Billing Application Select Customer Relationship Management Application Set up Outlook or other Email Application Set up Email Policies and Processes Set up Telephone Policies and Processes Select Benefit Package for Employees Create Process for Employee Review Set up Online or Outlook Calendar Define other internal and external process (as needed by your business)
MARKETING
Review and Edit Marketing Plan on as needed basis Select External Marketing / PR firm (if needed) Create Marketing Materials such as brochures / catalogs Review and Update Website regularly Attend and use Trade Shows and General Group Meetings for branding
OFFICE SPACE CHECKLIST
Client convenience Commute Safety in neighborhood / district Enough Light in the Parking Area Enough Parking Space for Growth Affordability
EQUIPMENT CHECKLIST Federal and State Employment Posters in Break Area 7
ENTITY START UP CHECKLIST | Email: [email protected]
Bookcases for Reference Material
Chair(s) Computer and software Printer/fax/copier/scanner Desk (one or more) Filing cabinet Lamps and lighting Storage shelves Work table (for putting together packets of material) Accordion files Binders Brochures Business cards Business stationery Calculator Cell phone Day planner or PDA Envelopes (all sizes) File folders File labels Index cards Laser pointer and other supplies for making presentations Mailing labels Mailing envelopes Paper Paper clips Paper cutter (for trimming brochures, postcards, etc.) Pens, pencils, markers, and erasers Post-it notes Postage stamps Ruler Stapler and staples Tape
INSURANCE
Personal / Professional Liability Errors & Omissions Directors & Officers Employment Practices Liability Insurance (EPLI) 8
ENTITY START UP CHECKLIST | Email: [email protected]
INFORMATION TECHNOLOGY
Create Information Technology Policy Set up Network (peer to peer, hybrid, etc.) Set up proper Security Settings / Firewall Set up Router / Internet Set up Email / Exchange Server Create User Policies Website Creation and Hosting Create Staff Email Ids Search Engine Optimization (SEO) Website Administration and management Load needed applications Use of PDAs / Blackberry
SERVICE AND PRODUCT Define your Service / Product Define your target market Do SWOT Analysis
Please note that the contents of this list may not cover all the required checklist points for your business. This list is also subject to change without notice. For questions please contact Mirage Global at [email protected] or call us at +1 (678) 648-7036. You can also visit www.mirageglobal.com for more information.
9
ENTITY START UP CHECKLIST | Email: [email protected]
MIRAGE GLOBAL START UP CHECKLIST
We understand as to how challenging starting a new entity could be for you as an entrepreneur. To assist new businesses we have created a series of checklist to guide you through the process and make your start up process simple. This checklist can also be used by mature businesses to realize their potential and ensure that they are covering all bases. Mirage Global can assist you with various items within this checklist or can get to you to one of their affiliate firms in providing quality, efficient service at competitive pricing. For details contact [email protected] We have divided the checklist in various categories for effectiveness of entity start up and ease of understanding for entrepreneurs.
ENTITY INCORPORATION GENERAL FINANCIAL PLAN START-UP EXPENSES BUDGET MONTHLY OPERATING EXPENSES PROFESSIONAL SERVICE PROVIDERS AGREEMENTS PLANS CORPORATE COMPLIANCE AND GOVERNANCE MODELS COMPANY PROCESSES MARKETING OFFICE SPACE CHECKLIST EQUIPMENT CHECKLIST INSURANCE INFORMATION TECHNOLOGY SERVICE AND PRODUCT
2
ENTITY START UP CHECKLIST | Email: [email protected]
ENTITY INCORPORATION
Select Entity Type (C Corp, S Corp, LLC, LLP, LP, etc.) Select State for Incorporation Select Legal Name for your business Select Legal Address / Registered Address for your Business File Articles of Incorporation / Organization with Secretary of State File Employer Identification Number (EIN) with IRS Get State IDs (if required) Get DOL# (if hiring employees) Open Bank Account Order Corporate Kit / Legal Seal / Certificates, etc. Prepare Bylaws / Operating Agreement File Form 8832 with IRS (if applicable for treating entity differently for tax purposes) Get Required Business Licenses Register with Dun & Bradstreet (if needed)
GENERAL
Prepare Organization Chart with Roles & Responsibility Create a Vision Statement for your Organization Create your Corporate Mission Statement Order Business Phone / Online Fax Register your company domain (if planning to have a website) Create Basic Email addresses such as [email protected] Create Company Logo Create Business Cards Order Basic Stationary Create Marketing Brochures / Catalogs
FINANCIAL PLAN Prepare Start-Up Capital Requirements Prepare Working Capital Requirements (next 6 months expenses preferred) Create Financial Cash Forecast for next 1 year on monthly basis 3
ENTITY START UP CHECKLIST | Email: [email protected]
Create Financial Forecast for next 3 years on annual basis Create Accounts Receivable Strategy Create Reminder for important deadlines such as Quarterly Estimated Taxes, Annual Taxes, Payroll Taxes (if applicable), Business License Renewal, Franchise Taxes (if applicable), etc. Open Business Credit Card / Apply for Line of Credit Determine if you need Venture Capital Funds / SBA Loans / Bank Financing
START UP EXPENSES BUDGET
Office Furniture Computers Printer / Copier / Fax / Scanner Office Software Business Phone Line Installation Fee Telephone Office Supplies Stationary Business Cards Printing (Marketing Materials / Brochures) Website Setup Costs (design, domain name, etc.) Business License / Fees Professional Consulting (Management Consulting, Lawyers, Accountants, etc.) Other Expenses
MONTHLY OPERATING EXPENSE 4
Salaries Benefits Rent (or portion of mortgage) Office Supplies Telephone Internet Service Postage & Courier Travelling Expense (including mileage) ENTITY START UP CHECKLIST | Email: [email protected]
Insurance Costs Membership Dues Printing Materials Marketing Expenses Web Hosting Magazine Subscription / Professional Literature Training and Conferences Legal and Accounting Services Banking Expenses Entertainment Taxes Other
PROFESSIONAL SERVICE PROVIDERS
CONSULTING FIRM – MIRAGE GLOBAL CPA / ACCOUNTING FIRM LEGAL / ATTORNEY FIRM MARKETING / PR FIRM BANKING FIRM INSURANCE FIRM HUMAN RESOURCE FIRM / RECRUITERS
AGREEMENTS
Employee Agreement Contractor Agreement Advisory Group Agreement (if applicable) Teaming / Reseller Agreement Non Disclosure Agreement (NDA) Non Compete Agreement Non Circumvent Agreement Master Service / Service Agreement License Agreement (if applicable) 5
ENTITY START UP CHECKLIST | Email: [email protected]
Arbitration Agreement (Integrity Agreement) Accounts Receivable Security Agreement Buy-Sell Agreement Partnership Agreement
PLANS
Business Plan Marketing Plan Financial Plan Operational Plan Employee Stock Option Plan
CORPORATE COMPLIANCE AND GOVERNANCE
Select Board of Directors Select Advisory Board Create List of Officers Certificate of Resolution (Issuance of 1244 Stock) by Board of Directors Share Allocation Certificate of Share ownership for Buy/Sell Notice of Corporate Shareholder Meeting Minutes of Annual Meeting of Shareholders and Directors Receipt for Shares of Stock Resignation of Directors / Officers
MODELS
Business Model Operational Model Revenue Model Pricing Model
6
ENTITY START UP CHECKLIST | Email: [email protected]
COMPANY PROCESSES
Select Document Management System Select Accounting / Payroll System Select Time Tracking for Employees Select Time & Billing Application Select Customer Relationship Management Application Set up Outlook or other Email Application Set up Email Policies and Processes Set up Telephone Policies and Processes Select Benefit Package for Employees Create Process for Employee Review Set up Online or Outlook Calendar Define other internal and external process (as needed by your business)
MARKETING
Review and Edit Marketing Plan on as needed basis Select External Marketing / PR firm (if needed) Create Marketing Materials such as brochures / catalogs Review and Update Website regularly Attend and use Trade Shows and General Group Meetings for branding
OFFICE SPACE CHECKLIST
Client convenience Commute Safety in neighborhood / district Enough Light in the Parking Area Enough Parking Space for Growth Affordability
EQUIPMENT CHECKLIST Federal and State Employment Posters in Break Area 7
ENTITY START UP CHECKLIST | Email: [email protected]
Bookcases for Reference Material
Chair(s) Computer and software Printer/fax/copier/scanner Desk (one or more) Filing cabinet Lamps and lighting Storage shelves Work table (for putting together packets of material) Accordion files Binders Brochures Business cards Business stationery Calculator Cell phone Day planner or PDA Envelopes (all sizes) File folders File labels Index cards Laser pointer and other supplies for making presentations Mailing labels Mailing envelopes Paper Paper clips Paper cutter (for trimming brochures, postcards, etc.) Pens, pencils, markers, and erasers Post-it notes Postage stamps Ruler Stapler and staples Tape
INSURANCE
Personal / Professional Liability Errors & Omissions Directors & Officers Employment Practices Liability Insurance (EPLI) 8
ENTITY START UP CHECKLIST | Email: [email protected]
INFORMATION TECHNOLOGY
Create Information Technology Policy Set up Network (peer to peer, hybrid, etc.) Set up proper Security Settings / Firewall Set up Router / Internet Set up Email / Exchange Server Create User Policies Website Creation and Hosting Create Staff Email Ids Search Engine Optimization (SEO) Website Administration and management Load needed applications Use of PDAs / Blackberry
SERVICE AND PRODUCT Define your Service / Product Define your target market Do SWOT Analysis
Please note that the contents of this list may not cover all the required checklist points for your business. This list is also subject to change without notice. For questions please contact Mirage Global at [email protected] or call us at +1 (678) 648-7036. You can also visit www.mirageglobal.com for more information.
9
ENTITY START UP CHECKLIST | Email: [email protected]
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