The Mystery of Formation Documents | Biggest Business FAIL | Glitch 12

The Mystery of Formation Documents. We saw hundreds (maybe even thousands) of business owners scramble for proof of their business when they were applying for a business loan or a disaster loan during COVID.

❓Do you know where all of your formation documents are?

Category: Business Structure

Sometimes, important business documents are in paper format and sometimes, they're in digital format. Collect them now if you don't have them handy. Example of documents:

✅ IRS SS4 Letter
✅ IRS Filing receipt
✅ Articles of Incorporation
✅ Bylaws
✅ Shareholder agreement

🎯 Goal: Review where all of your formation documents are, whether they're original documents (paper format) or digital.

Are they backed up? Ensure all contact information is updated and consistent on all forms.

🚧 Actionable item: Locate and organize all formation documents into a properly labeled folder and double-check that all contact information is consistent and updated everywhere necessary.

💥 Download our documents checklist: https://bit.ly/AuroraChecklist

This list is what a lender would ask for if you're seeking funding.
We use this as a baseline. https://auroraconsulting.biz/credit-financing-consultation/

Find out more about the project: https://auroraconsulting.biz/lets-glitch/

Welcome to the Biz Glitch 366 series where we discuss 366 mistakes that we've made and seen in business over the course of 6 decades collectively.

We'll share a mistake of the day aka GLITCHES. We've organized the 366 glitches into 21 categories. Accounting, Bookkeeping, Branding, Business Growth, Business Operations, Business Structure, Credit Score, Culture, Customer Service, Cyber Security, Financing & Financials, Human Resources (HR), Insurance, Marketing, Mindset, Legal Issues, Outsourcing, Sales, Technology, Training/Education, Website Management

WHO WE ARE:
60+ years combined of owning, running and managing businesses and working with thousands of business owners to understand how business can be fun or it can falter.

Know ahead of time what mistakes to manage and what problems to prevent...BECAUSE THEY HAPPEN!

https://auroraconsulting.biz/lets-meet/

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▶️ 3Speak