Taking the First Step
You have always dreamed of doing your own thing, but have been afraid to take the first step. Without the right support, starting your own business is like jumping into the ocean without a life vest: The Dive is a rush, The Splash is invigorating, and The Sharks are deadly.
FUNEL is your life vest and is ready to help guide you through the joys and perils of entrepreneurship.
FUNEL is your life vest and is ready to help guide you through the joys and perils of entrepreneurship.
I. Evaluation of the Dream
FOCUSED LISTENING
Please tell us about your dream. We would love to hear how your idea/invention is going to help make the world a better place. We will provide professional, unbiased feedback on your idea/invention and supply you with the support required to move forward to becoming a real business. We will help you focus and define exactly what problem your idea/invention will solve. This will be the "purpose" of your business.
A realistic and educated evaluation of the idea/invention will reduce product development time and accelerate the product's readiness for going to market. Our evaluation will include a discussion about the "story" behind the product, current status and future goals as well as market intelligence and competitive landscape.
We are always excited and ready to help bring the next big thing into the world.
Please tell us about your dream. We would love to hear how your idea/invention is going to help make the world a better place. We will provide professional, unbiased feedback on your idea/invention and supply you with the support required to move forward to becoming a real business. We will help you focus and define exactly what problem your idea/invention will solve. This will be the "purpose" of your business.
A realistic and educated evaluation of the idea/invention will reduce product development time and accelerate the product's readiness for going to market. Our evaluation will include a discussion about the "story" behind the product, current status and future goals as well as market intelligence and competitive landscape.
We are always excited and ready to help bring the next big thing into the world.
II. Filling Out the Paperwork
LEGAL DOCUMENTATION
When your business is ready to be created, FUNEL can help with identifying the correct legal documents to turn your dream into a real company. Each specific type of company: sole proprietor, partnership, Limited Liability Corporation (LLC), C-Corporation, S-Corporation, has its own paperwork and tax responsibilities. It is important to correctly fill out the right paperwork for your company to avoid any confusion with the IRS and other state and federal business regulators.
Once the required documents are filled out and returned to the correct government offices, along with payment for any fees, your company is born and ready to function as a legal entity. The process of filling out the legal documents for your new business is not overly difficult and can be completed by the business owner, though a lawyer and tax consultant may assist to ensure all of the information is in alignment for the business owner.
When your business is ready to be created, FUNEL can help with identifying the correct legal documents to turn your dream into a real company. Each specific type of company: sole proprietor, partnership, Limited Liability Corporation (LLC), C-Corporation, S-Corporation, has its own paperwork and tax responsibilities. It is important to correctly fill out the right paperwork for your company to avoid any confusion with the IRS and other state and federal business regulators.
Once the required documents are filled out and returned to the correct government offices, along with payment for any fees, your company is born and ready to function as a legal entity. The process of filling out the legal documents for your new business is not overly difficult and can be completed by the business owner, though a lawyer and tax consultant may assist to ensure all of the information is in alignment for the business owner.
III. Operating Agreements and Bylaws
COMPANY ROLES and RESPONSIBILITIES
Depending on what type of business is declared, detailed documents should be drawn to define roles and responsibilities within the company: Operating Agreements are used by LLCs and Bylaws are used for corporations.
Although bylaws and operating agreements are internal, they should be made as detailed as possible. This helps prevent conflicts in the future since all rules and regulations are clearly outlined. It is recommend to consult with a legal professional when creating internal documents to make sure all owners or members are on the same page. Well-crafted operating agreements and bylaws can ensure smoother daily operations for any business.
Depending on what type of business is declared, detailed documents should be drawn to define roles and responsibilities within the company: Operating Agreements are used by LLCs and Bylaws are used for corporations.
- All members of an LLC enter into a contract when they create an operating agreement, which governs the company's internal affairs. An operating agreement can be simple or complex, depending on what the members want. It acts as a framework for the business and can set forth initial member contributions and other core operations.
- Corporate bylaws are similar to an operating agreement as they determine how the corporation's board of directors will govern the business. Depending on how many shareholders the corporation anticipates having and the complexity of the business, bylaws may be simple and straightforward or very complex. The original board of directors executes the bylaws for the corporation.
Although bylaws and operating agreements are internal, they should be made as detailed as possible. This helps prevent conflicts in the future since all rules and regulations are clearly outlined. It is recommend to consult with a legal professional when creating internal documents to make sure all owners or members are on the same page. Well-crafted operating agreements and bylaws can ensure smoother daily operations for any business.
IV. Financial Options
MONEY MANAGEMENT
FUNEL will work with you to find the best financial options for your new business. Sometimes, the best option might be the traditional banks which offer a number of various benefits to assist a startup business, but these banks may charge fees that are not within your budget. We can help search other banking options that might be a better fit.
Someone just starting a business might think " Why do I need another bank account?" There are many advantages to having a separate "business account" from your personal account as well as tax benefits and future investments. We have relationships with various banking institutions that are willing to help answer all of the questions that a startup might have. We want your new business to have a strong money management system to support your business as sales and revenue grows.
FUNEL will work with you to find the best financial options for your new business. Sometimes, the best option might be the traditional banks which offer a number of various benefits to assist a startup business, but these banks may charge fees that are not within your budget. We can help search other banking options that might be a better fit.
Someone just starting a business might think " Why do I need another bank account?" There are many advantages to having a separate "business account" from your personal account as well as tax benefits and future investments. We have relationships with various banking institutions that are willing to help answer all of the questions that a startup might have. We want your new business to have a strong money management system to support your business as sales and revenue grows.
Time to Jump In!
FUNEL is here to support you through this big decision. We are the support system that you have been looking for for so long. You can do anything you want, you just can't do it alone. Call us today!
