Formation Phase

Establish Your Business Foundation

The Formation phase is critical in setting up your business for long-term success. It's about turning your well-defined idea into a legally recognized entity, ensuring that you have all the necessary components in place to operate smoothly and compliantly. At Idea Genius, we simplify this complex process by guiding you through twelve essential steps, providing the tools and resources you need to establish your startup efficiently.

Our platform assists you in:

  1. Choosing Your Business Name
  2. Securing Your Domain Name
  3. Forming Your LLC
  4. Setting Up Your Business Email and Google Account
  5. Setting Up Your Virtual Business Address
  6. Setting Up Your Business Phone
  7. Getting Your EIN Number & NAICS Code
  8. Opening a Business Bank Account
  9. Obtaining a D&B DUNS Number
  10. Creating a Landing Page Canvas
  11. Getting Your Landing Page Built
  12. Getting Listed on Business Directories

By completing these steps, you'll establish a solid legal and operational foundation, positioning your startup for growth and success.

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Key Steps & Tools

Ideation Phase
Step
1
Choose Your Business Name

Select a unique and memorable name that reflects your brand identity. Our tool helps you brainstorm names and checks for availability.

AI Tool: 
Business Name Generator
  • Establishes your brand identity.
  • Ensures legal compliance by avoiding existing trademarks.
  • Sets the tone for your business's public image.

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Ideation Phase
Step
2
Secure Your Domain Name

Find a domain name that matches your business name. Securing your domain early is essential for your online presence.

AI Tool: 
Domain Name Creator
  • Protects your brand online.
  • Makes it easy for customers to find you.
  • Prevents others from claiming your domain.

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Ideation Phase
Step
3
Form Your LLC

Navigate the legal process of forming a Limited Liability Company (LLC). Our step-by-step guide simplifies filing paperwork and meeting state requirements.

AI Tool: 
LLC Formation Guide
  • Provides legal protection for personal assets.
  • Establishes credibility with customers and partners.
  • Meets legal requirements for operating your business.

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Ideation Phase
Step
4
Set Up Your Business Email

Create a professional business email using your domain name and set up a Google Account for access to essential business tools.

AI Tool: 
Email Setup Wizard
  • Enhances professional image.
  • Provides access to Google Workspace tools (Drive, Calendar, etc.).
  • Centralizes communication channels.

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Ideation Phase
Step
5
Set Up Your Virtual Business Address

Obtain a virtual business address to use on official documents, enhancing privacy and professionalism.

AI Tool: 
Virtual Address Solutions
  • Provides a professional mailing address.
  • Protects your personal address.
  • Complies with legal requirements for a business address.

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Ideation Phase
Step
6
Set Up Your Business Phone

Establish a dedicated business phone number to separate personal and professional calls.

AI Tool: 
Business Phone Setup Guide
  • Improves customer communication.
  • Enhances professionalism.
  • Offers features like voicemail and call forwarding.

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Ideation Phase
Step
7
Get Your EIN Number & NAICS Code

Obtain your Employer Identification Number (EIN) and identify your North American Industry Classification System (NAICS) code for tax and regulatory purposes.

AI Tool: 
EIN and NAICS Application Assistance
  • Required for tax filings and hiring employees.
  • Necessary for opening a business bank account.
  • Classifies your business industry.

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Ideation Phase
Step
8
Open a Business Bank Account

Set up a business bank account to manage finances separately from personal accounts.

AI Tool: 
Banking Options Overview
  • Simplifies accounting and tax preparation.
  • Enhances credibility with clients and suppliers.
  • Provides access to business banking services.

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Ideation Phase
Step
9
Obtain a D&B DUNS Number

Apply for a D&B DUNS Number to establish your business credit profile.

AI Tool: 
DUNS Number Application Guide
  • Builds business credit history.
  • Required for certain contracts and financing.
  • Increases trust with partners and suppliers.

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Ideation Phase
Step
10
Create a Landing Page Canvas

Design the blueprint for your website's landing page to attract and engage visitors.

AI Tool: 
Landing Page Planner
  • Provides a roadmap for website development.
  • Ensures consistent branding and messaging.
  • Enhances user experience.

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Ideation Phase
Step
11
Get Your Landing Page Built

Develop your landing page using our resources or connect with professional developers.

AI Tool: 
Web Development Resources
  • Establishes an online presence.
  • Generates leads and customers.
  • Communicates your value proposition effectively.

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Ideation Phase
Step
12
Get Listed on Business Directories

List your business on online directories to improve visibility and SEO.

AI Tool: 
Directory Submission Toolkit
  • Increases online visibility.
  • Enhances local SEO rankings.
  • Helps customers find your business easily.

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Benefits to You

  • Legal Compliance: Ensure your business meets all legal requirements.
  • Professional Image: Establish credibility with customers and partners.
  • Operational Efficiency: Set up essential systems for smooth operations.
  • Financial Management: Separate personal and business finances for clarity.
  • Brand Visibility: Enhance your online presence and attract customers.
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