So here is the big five, right, so that I consider it's like the master Checklist, and it's pretty much an overview of all of those mini elements that we went through in class, just in like shorter version. So the first and foremost, it's making sure that our business entity is set up, making sure that our name checks out, that it is not something that somebody else already has
in place. Make sure that once we establish our name and started with our paperwork, we get our er in and our dun's number, checking the test database to make sure that our name is not trademarked by somebody else, so that way when we start to apply for funding,
we don't run into any trademark infringement issues. Ensuring once we get our you know, once we understand if we're going to operate in our home state, the state that we're living in, making sure that we get everything up and running, the Secretary of state and all that good stuff on that end. If we're thinking about operating across states, so like living in one space but operating in a
business friendly state. You know a lot of tax repair folks in Florida, but then so think about Delaware and Wyoming. Make sure that you follow the foreign corporation status for with your home Secretary of State, so they can understand that while you are while the business entity is housed in another state, that the business owner itself themselves reside in this state, all right, So make sure that that
is something that you do. And of course, after you get everything established, come to understand how you want to present your business in terms of securing that funding. So developing your SBA compliant business plan. And remember directly on the SBA website they have this laid out template that you can use, so you don't have to pay somebody else five six hundred sometimes one thousand dollars for similar
to write something for you. Right, if you need support with market research, there are tons of opportunities that I actually I'll put some more in in the study halled just to kind of help us with understanding like how to do market research, because they make it sound simple, but like that can really make or break whether or not a business or a lender comes to understand if they want to do business with you, because in a lot of ways, the market research space portion of the
business plan is where folks are looking to your understanding of what it is that you say you're trying to do and last per sudden only, it's create a plan to address any work that you're doing in terms of your person. So if there are late payments that you're trying to get off of their inquiries you're trying to get off, trying to get old names, addresses, phone numbers off your personal credit report as you're establishing the entity itself.
This is the time to kind of start that process because you know, as we all know, that can take time, right and so but the good thing is that time often overlaps because in a lot of ways, some of the most of the cars that you know we've looked at take at least thirty to sixty days of that business being considered an entity before we can even start applying, right, So that at least gives you those two months to try to work with the personal bureaus to get everything
together on your personal side. So that way, once you're ready, once your business is really ready and like considered green lid, then you can go ahead and start applying for stuff without any issue right after that entity is set up. Again, let's start setting up these accounts first and foremost, making sure that our business bank account is up and running, because the day that our business bank account is up and running is considered the day that our business is
an operation. All right, So remember again, the day that your business bank account was opened is the day that
your business is considered to be an operation. So the sooner you can get that started, the sooner you can get the process of that history starting to report and all of the ways that you need history to report, not just for the history of the account your business itself, but then how that the number of days like to add to like when you can start applying for net accounts, which will then impact when you can start applying for revolving accounts, which will then impact when you can start
applying for Tier two, Tier three, Tier four cards. Right, So, the sooner you can get that history started simply with opening this bank account and making sure that everything is compliant in terms of what that bank needs to open it, the sooner you can get the process of starting your funding journey started, all right. And this is also you know, makes I put business website and email address after earners.
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C Sure because the last thing you want to do is go buy a domain and then realize after you bought it that while somebody, while that person didn't buy that domain, there's always there already somebody at the top
of that Google search with your exact name, right. So make sure, especially as you're investing in your website, and you know, if you use Google to kind of like operate your your professional business email address, just make sure that before you do any of that that it's all it's all good and a good resource for that name checker in amec H I mean see kr I believe dot com and they can kind of pull up not just you know what domain are available, Like you know,
if it's dot com, dot org, that's a great resource and I think it's already plugged in notion, but just
wanted to plug that as well. And then again, like when you're thinking about your office space, are you you know, are you going to have a physical office or are you going to use a virtual office that would afford your business communications, your business all your business communications to another space, right, but just make sure that you know it's a that that physical address doesn't impact lenders wanting to give to you, right, but make sure that you
know you set that up and that's the address that runs across all your reports, make sure that it's reported on your EI N you're done so like, so make sure that everything is everything and it's all the same in every space, so that is not something that impacts you when we get to step three, which is us starting to build our business credit profiles. All right, So again for us early starters, like first starters, I start with secure lines of credit, So looking at those secured
lenders that we talked about on the Motion resource. And again, none of these lists that we've been working with are exhaustive. And as I also shared some of the popular branded cards were purposely not put on there. That doesn't mean that you shouldn't look into them and see how they might fit into your report building that you're trying to do. But start with those secured lines, because that's what's going to open the door to be able to actually have
profiles to get from the credit reporting bureaus. Right, So starting with those secure line of credits will be helpful because then you can actually create profiles and experience credit Safe, D and B and maybe Equifax, depending on whether or not whether that secured line reports to Equifax. But starting the secured line before you create those profiles will be super helpful because that way it'll it will actually hopefully have at least something reporting to those agencies as you're
creating your profiles. But even if it doesn't, simply creating us profiles to make sure that your business is reporting
with all the accurate information is also cool too. And then as you start to build out the secured lines and get into the net accounts, you'll slowly but surely start to strategically build out your profile because again remember with the vendor and revolving accounts, looking see to make sure that all of the cards that you're going to get are at the very least reporting to each of the four bureaus, right, more specifically, making sure that you
have at least one or two that are reported into Equifax, so that you can have an Equifax accounts sooner than later, or Equifax like business profiles sooner than later. All right, So once we got those accounts those profiles open with the bureaus, starting with our net accounts, right, so trying to have at least seven across all four of our reports, and these can be you know, accounts that we repay every fifteen, thirty, sixty or ninety days, depending on what
that agreement is with that particular lender. But starting with those is going to be great after we get that secured line, because it's going to be another way to begin to boost our scores, you know, paying attention to our paydex score with DMB and our Intellent score with Experience, and that will then open the door for us to be able to start applying for and being successful with
revolving accounts. Right. And once we're in that space, so being able to get revolving accounts, let's try to get at least five across our reports, so that way we can keep you know, building our profiles in the way that we are, but then also being able to access more amounts of money over time across different lenders.