Financing Your Small Business

Sequence

One of the more difficult tasks for the entrepreneur is to prioritize the com­pany's interface with its professionals. New companies must normally con­serve their cash resources as they build the company to go to market.

The sequence of tasks should be roughly as follows.

□ Conduct a feasibility analysis of the product or service to determine whether you have a business.

□ Engage an attorney to form the entity and provide preliminary docu­ments for a friends and family round of raising capital.

□ Engage an IP attorney to file trademarks and patents if applicable.

□ Draft a business plan and hire an accountant or CFO to help with the numbers.

□ Engage a business plan consultant if required.

□ Engage a marketing expert to formulate a strategy.

□ Bring in a branding/graphic specialist to begin a corporate identity package.

□ Use a videographer to create a promotional video.

There is no set rule on sequence. Some things appear more important at different stages of the company's growth. Just make certain that the under­lying business and legal structure is in place before proceeding very far.

Financing Your Small Business

Limited Liability Company Formation Documents

If, after consultation with your professional team, you decide to form a lim­ited liability company, you will need to file Articles of Organization with the state and draft an internal …

Corporation Formation Documents

After consulting with your professionals, you will most likely need to form an entity to raise capital. Most entrepreneurs will form either a corporation or a limited liability company. This …

Business Plan

As part of your business strategy, planning, and feasibility analysis, you will commit your plan to paper. The document produced is typically called a business plan. The purpose of a …

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