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Side hustles are growing in popularity these days. The rising cost of living has forced many workers to pursue secondary and tertiary sources of income.
For others, a side hustle is a way to pursue their dreams and goals beyond a traditional career. Some want to create their own hours to travel, spend time with family and friends, or simply wake up whenever they want. Others want to escape the nine-to-five prison. And some just want to open up that online clothing boutique they’ve dreamt of since high school.
Creating a side hustle is hard, but it can also be very rewarding. When properly executed, a side hustle can help people achieve their dreams of doing work they’re passionate about, making some extra cash, or sleeping better at night knowing they have an alternate source of income.
But it’s important to get started on the right foot.
The Top Business Formation Services to Start a Side Hustle
Getting started on the right foot means registering your business as a legal entity. Whether it is an LLC, S-Corp, C-Corp, or sole proprietorship, you need to protect yourself and your business interests by registering with the state.
You can read our full list of reviews for each business formation service here.
5 Steps to Starting a Side Hustle
Now that you know the importance of registering your business, here are the next steps to take to get your side hustle up and running:
- Create a good business plan.
- Name and set up your business.
- Create a brand for your business.
- Start selling your products or services.
- Continuously grow your business.