It’s pretty tempting to look at your LLC formation documents that arrived in the mail and think, “Yay! I’m done!” but that’s probably the easiest part of starting your new business. The tricky part is navigating that weird transitional space between “I have an LLC on paper” and “I have a fully-functioning business in real life.”

That’s why a ton of people miss out on critical steps that have the potential to impact their business in big ways down the line. But… you’re not a mind reader. How can you possibly know what all will happen with your business in the future? You can’t, really.

At least you can prepare for the big stuff that affects a lot of business owners, and use this handy checklist to make sure you’re preparing your business the right way from the start. And don’t worry, even if you didn’t hire us to form your LLC, we’ve got your back with tons of useful info.

Your LLC is the foundation, not the finished building.

Think about the next step to forming an LLC. Sure, there’s all the stuff like filing for an EIN and opening a business bank account so you can prove you’re separate from your entity.

That’s all super important, but it’s worthwhile to also consider the following:

Figure out the tax stuff.

By default, your LLC will be taxed as a disregarded entity if you have only one member. If you have two members, the IRS classifies you as a partnership. There are other options for your tax classification (like S-Corp status!) that you’ll want to hammer out first.

Then be sure to cover your federal and local tax obligations. If you’ve got questions about your taxes or how things work, don’t suffer through it alone. Finding a tax professional to walk you through it is a great way to make sure you’re not leaving anything out.

Other initial requirements.

Sometimes, it’s an initial report due 90 days after LLC formation. Other times, it’s figuring out how to run an ad announcing your new business in the local paper. There’s also local permits and licenses you’ll need to apply for.

To be sure you’ve covered all your bases, hire a company like Northwest to handle your formation for you. If you’ve filed that part on your own, you can also reach out to us for general next steps. Our guides to forming your LLC in every state really dig in deep with helpful details.

Compliance planning.

Ideally, your registered agent will let you know when your annual report deadline is around the corner. Otherwise, your whole business could end up being dissolved for not being in good standing.

The best part of hiring a registered agent is freeing up time to focus on other stuff that’s more important anyway, like making sure you don’t run out of ingredients for this week’s special or completely blank on sending in the payroll reports.

Get an Operating Agreement.

You would probably be pretty surprised at how many people run their businesses on vibes alone. That said, vibes are great, but often don’t cover weird things like what to do if one partner wants out of the business or how to to keep going if your takes on a manager for daily operations.

Long story short, you need a legal document that describes how your business will be run on a daily basis, with special detailed considerations to preserve the structure you’ve built up so thoughtfully.

Protect your business.

It’s not just about the legal protections you’re building into your structure, either. You’ll want to be sure that you give yourself a little wiggle room when it comes to the curve balls life tosses your way.

Someone backs a truck into your awning. Someone slips on the tile in your bathroom. Someone gets sick from the lettuce in their sandwich. You get it. And while LLCs limit the liability you legally face as an individual, they don’t pay out if something bad happens. That’s where business insurance usually takes over.

Build your Identity.

Identity is more than just a buzzword. The basic concept of your identity as a business is just everything that makes you… you. That’s your mission statement, how you interact with customers every day, and even how you market yourself online.

This is one of the most often overlooked steps when it comes to establishing an LLC, because it usually takes a good amount of resources to make big things happen. You shouldn’t have to deal with a separate web host, business email provider, or digital phone service. That’s why we built these all into your client portal with one centralized login.

Do I have to do this all before I file?

Hey, Rome wasn’t built in a day. And this is a ton of stuff that may or may not apply to your business, just depending on where you form your LLC and how your industry works. The whole point isn’t to tack on more work here.

It’s more about understanding the many steps that go into starting your business the right way from day one. And if not day one, then maybe on day five or six or ten. Just don’t get 30 years in with no idea who takes care of the books and how much you owe for missed deadlines. You’re not alone, and you just need a good blueprint.

We give you the blueprint.

Northwest has been in the biz for years, and we’re experts on forming LLCs. We’ve done it across 52 jurisdictions, and we feel proud of our impact on new businesses popping up all over the country.

We’re not here to just help you start your LLC. We’re here to help you start your LLC, and everything else that comes after that. Sure, we’ll file your LLC and get you started. Then we’ll register your free domain, give you a customized Operating Agreement, and tell you when your Annual Report is due. Better yet, we’ll file it for you, so you can focus on everything else.

Got questions? We’ve got answers, so leave us a comment below.