Hold a Brainstorming Session

Determining whether your side gig can grow into a company requires thoughtful consideration. Your joy and passion for the product or service can sometimes result in biased decision-making.

Craft A Detailed Business Plan

Writing a business plan is a fundamental step in growing a side hustle or starting a small business.

Secure an EIN from the IRS

You’ll likely need an Employer Identification Number for hiring and banking purposes. The Internal Revenue Service has a user-friendly platform available that includes step-by-step instructions

Choose a Business Name that Resonates

Aspiring business leaders who want to expand their market share are in for something of an awakening when they choose a business name.

Select a Suitable Business Structure

As a side hustle, running the gig through your personal bank account and integrating the revenue into an individual tax return made sense.

Create a Large Enough War Chest to Quit Your 9-to-5

It’s important to keep in mind there is no one-size-fits-all equation to determine how much cash reserves an enterprise should have on hand.

Brand and Market Your Full-Time Business

Effective branding does not necessarily require a great deal of money.