becoming legit

So there's this moment when you are starting a business when things start to feel very real, and it's not when you get your first customer, or hang the sign over the door. Nope.

It's when you register with the state and town and open a bank account.

I know, sexy, right?

But the thing is, even if you are operating under your own name, you will need to do these things because that's how you fit into the social fabric.

I don't know how things are done in any state but mine, and I certainly don't know how things are done in other countries. Heck, I barely know how to do things here. But at least in Massachusetts you need to register with the state, who issues a taxpayer identification number (search for how to do this online), and you take this number to the town clerk who registers you with the town (or city), and you then take both those things to the bank to open the business accounts. Oh it's scintillating stuff.

You then need to get some bookkeeping software, and here's where my knowledge gets really sketchy, because I only know one system and that barely. But unlike your personal money, you actually need to keep track of your orders and expenses and collect sales tax as appropriate and pay that to the state each month. You might need to pay taxes quarterly. You might need to hire an accountant or a bookkeeper to at least help you get set up.

Don't shy away from this, because if you do, you will never transition your business from more than a way to earn money to buy more tools. You need to embrace these dry, boring, confusing things, and it is best to tackle them now. Do some research on Google. Figure out what you want to use as a system. Figure out what you are required to do. Understand all that because understanding it is the foundation of your business.

You might be carving spoons, but keeping books is keeping books. You can't get out of it. So get into it.