What Do I Need to START a Business?

Written By Sheridan Gary

What Do I Need to START a Business?

Starting a business can feel overwhelming, but trust me, you’ve got this! The key is breaking it down into manageable steps and tackling each one thoughtfully. In most states—if not all—you’ll need to start with some basic homework. Don’t worry; most of this early work won’t cost you a thing.

Step 1: Choose Your Business Structure

First things first: what kind of business do you want to create? The legal structure you choose will affect everything from how much you pay in taxes to how much personal liability you have. Here are some common options:

  • Sole Proprietorship: The simplest and quickest to set up, but you take on full personal liability for the business.

  • Limited Liability Company (LLC): Offers more protection for your personal assets while keeping things relatively simple.

  • Corporation: Best for larger businesses with complex needs, but it comes with more paperwork and regulations.

Take some time to research which structure is best for your business goals and consult a professional if needed.

Step 2: Pick and Secure Your Business Name

Have you landed on the perfect name? Great! But before you get too attached, you’ll need to check if it’s available.

  • Head to the IRS.gov website to search for your business name and ensure it’s not already taken.

  • Many states also have their own database for business name availability—make sure to check there as well.

  • Once you confirm your name is unique, lock it in! This is the name your customers will come to know and trust.

Step 3: Get Your EIN Number

Your Employer Identification Number (EIN) is essentially your business’s social security number. It’s required for things like opening a business bank account and filing taxes. The best part? It’s free and easy to get online through the IRS website.

Step 4: Secure Your Online Presence

In today’s world, your online identity is just as important as your legal setup. This includes your domain name and social media handles.

  • Domain Name: Your domain is your business’s digital address—think www.mybusinessname.com. Even if you’re not ready to build a website, buy your domain now to prevent someone else from snatching it up. Platforms like GoDaddy or Namecheap make it simple.

  • Social Media Handles: Consistency is key here. Your social media names should match or be as close as possible to your business name. This makes it easier for customers to find and recognize you. Start with these platforms:

    • Meta (Facebook)

    • X (formerly Twitter)

    • Instagram

    • TikTok

    • Twitch

    • Snapchat

    • BlueSky

It’s worth checking all these platforms even if you’re not planning to use them right away. Securing your handle now will save you headaches later.

Step 5: Time to Get Busy!

Once you’ve handled the basics, you’re officially in motion. This is where the real fun (and hard work) begins. Stay organized, keep learning, and remember—every big business started somewhere. You’re building the foundation for something amazing, one step at a time.

Pro Tips to Keep in Mind:

  • Research Local Requirements: Some states or cities have specific permits or licenses you may need.

  • Start a Business Bank Account: Keep your personal and business finances separate to make accounting easier.

  • Plan for Taxes: Consult with a tax professional early on to understand your responsibilities.

Starting a business isn’t just about paperwork and social media—it’s about bringing your vision to life. Take it one step at a time, and you’ll be surprised at what you can achieve.

Have more questions on how to get started, let me know on the Contact Me page.

Sheridan Gary
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