Your first 90 days

A plan for directors, owners and accountants of a small company considering bitcoin. Each step says who does it, what it should produce and which free page or document to use. Education, not advice: it explains how things work so you can ask your advisers better questions.

The order matters more than the pace. Some companies will take longer, and stopping after step 1 or step 3 is a perfectly good outcome. Every document named here is free; the templates arrive by email.

The plan, step by step

1. Decide whether to look at this at all
   Who: The directors · Output: A one-sentence reason in your own words, or a decision not to go ahead.
   Use: Why some companies hold bitcoin, and why most don't (free)
2. Check what you already know
   Who: A director or the owner · Output: A short list of gaps to read up on.
   Use: Readiness quiz (free)
3. Size it with your own numbers
   Who: The finance lead or a director · Output: Your operating reserve, known obligations, excess cash and a written cap, with a stress test.
   Use: Allocation calculator (free)
4. Brief your accountant
   Who: Your accountant · Output: An agreed accounting and tax treatment, in writing, before any purchase.
   Use: Accountant's corner, Accountant briefing (working documents pack) (free)
5. Talk to your bank
   Who: The finance lead · Output: Confirmation that the bank will make payments to the provider you plan to use, and a file of source of funds records.
   Use: Banking and source of funds (free)
6. Write the treasury policy
   Who: The directors, with your advisers · Output: A draft policy: purpose, cap, who approves, custody, records and review.
   Use: Treasury policy template, Policy generator (free)
7. Choose custody and keyholders
   Who: The directors and the named keyholders · Output: A chosen custody model and a list of who holds what.
   Use: Custody options, Custodian due diligence questionnaire (free)
8. Put it to the board
   Who: The board · Output: A minuted decision, with the policy approved or the idea set aside.
   Use: Board paper outline, Board meeting checklist (free)
9. Set up and test recovery
   Who: The keyholders · Output: A completed set-up and a signed recovery test record, before any real funds are sent.
   Use: Key ceremony walkthrough, Recovery drill record sheet (free)
10. Make a first purchase and record it
    Who: The finance lead, with a second approver · Output: A test transaction, then the purchase, with records your accountant can use.
    Use: Buying bitcoin as a company, Bookkeeping workbook (free)
11. Hold the first review
    Who: The board · Output: Review minutes: position against the cap, records, keyholders and any changes.
    Use: Quarterly review checklist (working documents pack) (free)

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