20 Steps on Your Way to Opening Day

New businesses face many challenges, from planning and licensing to opening a bank account and creating a Web site. Regardless of where you are in the process, The Company Corporation wants to help. Follow each step on our checklist to stay on the right track.

1. Write a business plan. Form goals and objectives for your new company. A successful start to any business requires a detailed outline of what you plan to accomplish. For access to more than 500 sample business plans, The Company Corporation recommends Business Plan Pro.

2. Obtain start-up capital. Whether you use your own savings or obtain loans, starting a business requires money. The loan process can take months to complete, so start early. Lenders often request a completed business plan prior to approval of funding.

3. Set up a legal business structure. Forming a corporation or LLC can protect owners' personal assets from business debts. Additionally, incorporating can provide credibility and tax benefits. Let The Company Corporation help you incorporate or form an LLC online.

4. Register "Doing Business As" names. Will your corporation or LLC do business under a name other than its legal name filed with the Secretary of State? If so, it must file a DBA (Doing Business As) name. We can help you file your DBA name.

5. Appoint a Registered Agent. Businesses must maintain an address for service of process where legal documents can be received. The Company Corporation provides Registered Agent service for all companies that we form.

6. Protect your company's name. Businesses file names on a per-state basis, so other companies may be using the same or a similar name in other states. Conducting a trademark search ensures your unique company name isn't already in use.

7. Obtain a Federal Employer Identification Number (EIN). Incorporated businesses and companies that hire employees must obtain an EIN. The Company Corporation includes this service in our complete formation package. You can also order an EIN separately.

8. Satisfy business licensing requirements. The Company Corporation provides a Business License Compliance Package to identify typical requirements for your business activities. Most state, county, and local governments require businesses to obtain licensing before they begin to operate. We can provide you with the application forms and contact information for the appropriate agencies.

9. Draft internal documents for the business. Corporations are governed by their internal bylaws, whereas LLCs are governed by an operating agreement. The Company Corporation can customize bylaws or an LLC operating agreement for your business.

10. Satisfy insurance requirements. Incorporating or forming an LLC does not provide a company with business insurance. Most companies obtain general business insurance from an insurance provider. Corporations and LLCs that hire employees also typically obtain unemployment and workers compensation insurance.

11. Establish a business presence. Identify a location for the business and establish a business address. The Company Corporation offers regular mail forwarding service in either Delaware or Nevada. Access our online application materials for more information.

12. Establish a Web presence. Not having an effective Web site eliminates opportunities for new customers and more profit. The Company Corporation recommends Website Pros to help design, develop, and market a Web site. Website Pros' services include a free 30-day trial, a toll-free telephone number, and 250 business cards. If you already have a Web site, Website Pros can help you market that site more effectively.

13. Develop business collateral. Businesses use customized letterhead, cards, and forms with their company name and logo to establish credibility. LogoYes makes "do-it-yourself" business cards, logos, and letterhead a snap. Get the professional look you desire from LogoYes.

14. Open a bank account. To protect their corporate or LLC veil, businesses must maintain separate business and personal accounts and records. Establish a separate business bank account so that your personal assets are not co-mingled with business funds.

15. Establish proper accounting procedures. The Company Corporation recommends Peachtree Complete Accounting by Sage, the accounting solution that small business owners have trusted for more than 30 years. It provides the tools that help you track project costs, manage inventory, and analyze all aspects of your business. Also consider Timeslips by Sage, the industry-leading time and billing solution that enables service-based businesses to easily and efficiently manage every aspect of the time and billing process. (Enter promo code TCC2008TS for savings on Timeslips by Sage.)

16. Build stronger customer relationships. Make sure you have critical contact details at your fingertips so you can focus on what's most important to your business - building stronger customer relationships. ACT! by Sage helps you organize contact information, manage daily responsibilities, and communicate more effectively to improve your productivity.

17. Identify where to get help. Smart business owners know where and when to seek advice from other sources. Identify attorneys and accountants in your area who can assist you with specific questions about your business if necessary. Network with other small business owners on a site like RunMyOwnBiz.com.

18. Get started. Schedule an opening day for your business. Giving yourself a goal helps keep things on track. and can increase your productivity.

19. Complete additional filings as needed. Companies that expand to do business outside their original state of incorporation or LLC formation generally register in the additional states. The Company Corporation can assist in these registration filings, also called "qualifications." Amendments can also be filed if the information listed on the formation document, like the legal name of the company or address, changes. Contact us at 800-818-6082 (toll-free) or 302-636-5440 for assistance with additional state filings.

20. Follow government rules. Operating a small business means satisfying ongoing government and legal requirements to maintain the company's good standing. Stay aware of the steps needed to maintain your company's status, and take advantage of The Company Corporation's $50,000 Corporate Veil Guarantee, provided at no cost with our Registered Agent service.