How To Turn Your Side Hustle Into Your Full-Time Gig

Last week, I talked about some considerations you need to make if you are looking to start a side hustle.  You can learn more about those considerations here.  

Now that you’ve had a chance to test different ideas and landed on one that you want to take on full time, its time to formally establish your business. By taking the steps to formally establish your business you can begin to scale and turn your idea into your next empire. Here are some tips to get you started.

The Foundation

The first step to formalizing your business is to create some structure around it.  This means selecting and forming a business entity, obtaining your Federal Employment Identification Number (FEIN),  opening a business bank account, getting the necessary insurances and licenses, and doing some simple business planning.

There is a lot of information to research when making these foundational decisions that can lead you down a rabbit hole of unproductivity and indecision. To avoid this, set deadlines and keep …