Have you been thinking about turning your passion or hobby into a business?
Follow these steps to get started today!
Avoid IRS and the state’s costly fines by registering your business and obtaining a Federal ID number.
After choosing a potential business name, you will do a search to see if that name is taken. You will do this by entering the name into a search engine like Google. If the name does not appear to be used in other websites or etsy shops, you are ready for the next step!
Go to the IRS website and search for the Federal ID Number Application and fill out the form. You will be prompted to input if you are a LLC or Sole Proprietor. We recommend filing as a Sole Proprietor if you are the only one running the business.
Next, you will want to file with the Secretary of State to get a business license. Filing as an LLC, a limited liability company with your state, means that you are limiting someone from accessing your personal assets, which we highly recommend.
It’s important to open a business bank account separate from your personal account! Business expenses taken from your personal account can strike a chord with the IRS.
Don’t forget to keep track of your income and expenses!
Branding & Marketing
Your brand is the face of your business and gives your customers the first impression. I recommend Fiverr for getting an affordable logo made.
How do you want to market your business?
It’s your choice to start a Youtube channel to market your items, Instagram account or Pinterest account. This will be the main way to get visible to your potential customers!
For a full guide on starting and growing a successful Etsy shop, check out the Hard Working Mom E-book to fast track the process!