Starting a new business is exciting—but the first 90 days are crucial. The decisions you make during this time can either create a strong foundation for long-term growth or lead to expensive, avoidable mistakes.
If you’ve been searching for how to set up a business the right way, new business startup checklist, or financial setup for entrepreneurs, this guide is your roadmap to launching confidently and strategically.
Whether you’re starting a service-based business in Las Vegas or launching a new brand online, this article will show you how to set up your financial infrastructure for lasting success—and why partnering with the right financial strategist is one of the most important investments you can make.
Why the First 90 Days Matter
In the early stages of a business, your systems, processes, and financial decisions are forming the DNA of your company. This isn’t the time for guesswork or generic templates. It’s the time to build your business like you plan to scale it.
During these first 90 days, you’ll:
- Select the right legal structure
- Establish your financial systems
- Implement tools for bookkeeping, payroll, and reporting
- Make foundational decisions that affect taxes, funding, and compliance
- Determine how you’ll track performance and measure success
Most importantly, you’ll need the support of a financial operations advisor who understands the full picture—not just data entry, but strategy, scalability, and growth.
Step 1: Choose the Right Business Structure
One of the most common searches by new business owners is Do I need an LLC or an S Corp?
Here’s the breakdown:
- LLC (Limited Liability Company): Great for flexibility and liability protection.
- S Corporation: Offers potential tax savings but comes with compliance requirements like payroll.
- Sole Proprietorship: Simple to set up, but no personal liability protection.
- C Corporation: Designed for larger operations and raising capital.
Expert Tip: Consult a business finance consultant to choose the structure that aligns with your goals and tax strategy. Making the wrong choice can cost you thousands in unnecessary taxes or legal exposure.
Step 2: Apply for Your EIN and Set Up a Business Bank Account
Your Employer Identification Number (EIN) is like a Social Security number for your business. You’ll need it to:
- Open a business checking account
- File taxes
- Hire employees or contractors
Once you’ve obtained your EIN, open a dedicated business bank account to separate personal and business expenses—a vital step for clean records and financial credibility.
A business finance consultant can help you choose the right banking setup and guide you through vendor payment systems, merchant accounts, and cash flow management.
Step 3: Implement a Cloud-Based Bookkeeping System
Many new entrepreneurs search What’s the best bookkeeping software for small businesses? The answer: It depends on your business model—but QuickBooks Online is the gold standard and often the most flexible and scalable.
Work with a financial strategist who can:
- Set up your bookkeeping system to match your operations
- Customize your chart of accounts
- Create rules for automated categorization
- Build meaningful financial reports you’ll actually use
A professional partner ensures your books aren’t just clean—but designed to drive performance and clarity.
Step 4: Build a Startup Budget and Forecast
It’s not enough to know what you’re spending—you need to project where your business is going.
A fractional CFO partner can help you create:
- A 12-month cash flow forecast
- Startup cost allocation
- Break-even analysis
- Benchmarks for marketing ROI, labor costs, and operating margins
Too many business owners skip this step, then find themselves blindsided by shortfalls. Forecasting gives you control and confidence.
Step 5: Set Up Your Tax Strategy—Now, Not Later
This is where many new business owners get tripped up. They delay tax planning until year-end and then scramble to “fix” things.
A growth-focused financial specialist will help you:
- Understand your estimated tax payments
- Track deductible startup costs
- Evaluate S-Corp tax election (if applicable)
- Avoid penalties and missed filings
- Create a year-round tax plan, not a last-minute one
Tax savings come from strategy—not from software or rushing in April.
Step 6: Handle Payroll Correctly from the Start
If you plan to hire or you’re an S Corp owner paying yourself a salary, you’ll need a compliant payroll system. Your business finance consultant can help you:
- Choose the best platform (Gusto, Paychex, etc.)
- Integrate it with your accounting software
- Set up wage classifications, taxes, and reporting
- Stay compliant with IRS and state employment laws
Step 7: Monitor Financial Health With Real Reports
You don’t need a CPA to understand your business—but you do need reliable financial reporting. Your financial operations advisor should give you:
- Monthly Profit & Loss statements
- Balance sheets
- Cash flow summaries
- KPI dashboards that tie back to your goals
These reports aren’t for the IRS—they’re for you to make smarter, faster decisions as a business owner.
Bonus: Track the Right KPIs from Day One
Financial clarity leads to better leadership. Work with your fractional CFO partner to track meaningful metrics like:
- Gross profit margin
- Operating cash flow
- Revenue per client
- Customer acquisition cost
- Days sales outstanding (DSO)
This is how you build a business you understand—not one you constantly guess at.
Final Thoughts
The first 90 days of your business lay the foundation for everything that follows. When you have a strategic financial partner who understands your goals, your industry, and your numbers—you build with clarity, confidence, and long-term control.
At Sunderland Valley Enterprises, we help entrepreneurs in Las Vegas and beyond launch strong by offering:
- Customized financial setup and QuickBooks optimization
- Strategic business structure and tax guidance
- Monthly reporting and financial review
- Clean, audit-ready books and year-round support
- Fractional CFO-level insight without the full-time price tag
Ready to Build the Right Foundation?
Book a Complimentary Business Consultation Let’s talk about your business goals, your financial questions, and how we can help you launch with purpose, precision, and profitability.
