Starting a consulting business: your first-month checklist

The usual order of things. Pick your state below for its exact rules, deadlines and official links.

1. 1

   Get your EIN

   Free from the IRS, online in about 10 minutes. Banks, clients and payroll all ask for it. You never need to pay a service for it. How to get it free

2. 2

   Open a business bank account

   Keeps the company's money separate from yours, which is what protects your LLC. See options

3. 3

   Get professional liability (E&O) insurance

   Professional liability covers a client who says your advice cost them money; bigger clients often require it. See options

4. 4

   Check whether your field needs a license

   Most consulting doesn't need a license. Regulated fields do: accounting, engineering, law, investment advice and some health and building work. If yours is one, check the state board before taking clients.

5. 5

   Set up booking and invoicing

   Online booking and automatic invoices get you paid faster. See options

6. 6

   Set up bookkeeping

   Track every sale and expense from day one so taxes take hours, not weeks. See options