Starting a Side Business and Don’t Know Where to Start?
Launching a side business can be exciting and overwhelming at the same time. With so many decisions to make, it’s easy to get stuck before you even begin. Here’s a straightforward guide to get your side hustle up and running, from incorporating your business to paying your team.
Incorporate Your Business with Stripe Atlas/Get Your EIN (Employer Identification Number)
First, you’ll need to legally form your business. This step may sound complicated, but tools like Stripe Atlas make it much easier. Stripe Atlas helps you incorporate your business in the U.S. and set up a bank account with just a few clicks. It’s a popular choice for entrepreneurs because it handles the legal paperwork and connects you with tax and legal advisors if needed. This way, you can focus more on your business and less on the bureaucratic side of things.
Open a Bank Account
Once your business is incorporated, you’ll need a separate business bank account. Keeping your business and personal finances separate is critical for maintaining clean records and for tax purposes. To open a business bank account, you’ll need to go in person to the bank with your business paperwork, incorporation documents, and identification. This ensures that your business is set up properly from a legal and financial standpoint.
Get Your Website Up and Running
No matter what your side business is, having a website is essential. This will help potential clients find you and establish credibility. Squarespace and Wix are user-friendly platforms that allow you to build a professional-looking website without needing to learn code. Both offer templates you can customize to reflect your brand’s style. It’s a great way to create an online presence quickly, so you can focus on what you do best—running your business.
Set Up a Business Gmail Account with Your Domain Name
A professional email address adds credibility to your business. Once you have a domain for your website, you can set up a Gmail account using Google Workspace. This allows you to have an email like yourname@yourbusiness.com, giving your communications a professional edge. It’s a small but significant step in making your business look polished and trustworthy.
Obtain Insurance
Protecting your business is just as important as building it. Even if your side hustle feels small, the right insurance can save you from costly surprises. Start by exploring general liability insurance, which covers accidents, property damage, or claims that could arise from your work. If you provide a service or advice, professional liability insurance (also known as errors and omissions insurance) helps protect you from potential client disputes or mistakes.
Depending on what you do, you may also need business property insurance (to cover equipment or inventory), or cyber liability insurance (if you handle client data or run an online business). Platforms like Next Insurance and Hiscox make it easy for small business owners to get quotes and coverage online. Taking this step ensures your new venture is protected from day one—so you can focus on growth with peace of mind.
Manage Your Finances with QuickBooks
Staying on top of your finances is crucial to the success of your side business. QuickBooks Intuit is an excellent choice for managing your billing, invoices, account reconciliation, and overall financial tracking. It allows you to send invoices, track expenses, and manage cash flow all in one place. The software also makes it easy to generate financial reports, which can help you understand your business’s performance and make informed decisions. Plus, when tax season rolls around, having all your transactions organized can save you time and stress.
Use Gusto to Pay Employees or Contractors
If your side business requires hiring employees or contractors, managing payroll can be daunting. Gusto is a fantastic tool that simplifies paying your team, whether they’re full-time employees or freelance contractors. It handles everything from direct deposits to tax filings, so you don’t have to worry about missing deadlines or making mistakes with your paperwork. Plus, it’s user-friendly and integrates well with other financial tools, helping you keep your business operations running smoothly.
Wrapping Up
Starting a side business doesn’t have to be intimidating. By taking it step by step and using the right tools, you can get up and running faster than you think. With Stripe for incorporation, a business bank account, a simple website through Squarespace or Wix, a professional email setup, QuickBooks Intuit for managing finances, and Gusto for payroll, you’ll have the essentials in place to grow your new venture. Happy hustling!