10 min 56 sec

CLASSROOM: Don’t Listen to This Boring Episode

Business licenses, bank accounts, and record-keeping … it might be boring compared to product launches, but if you get a few easy things right in the beginning, it will be much less stressful moving forward.

Subscribe Now For A Free Five Step Tutorial

What It's About

Taking care of small, boring things early on can make everything else more exciting.

Notes from Chris

Episode 1178
In recent Classroom episodes, we’ve looked at the three elements of every compelling offer: a promise, a pitch, and a price, and then we considered some different ways to find time to work on your hustle—a common challenge of many of us.

This week I’d like to look at a really sexy topic, or series of topics: Business licenses, bank accounts, and record-keeping … like I said, these are the things that get people really excited.

If for some reason you think these topics are boring, well, here’s the trick: if you get a few easy things right in the beginning, it will be much less stressful moving forward. Then you don’t really have to think about them again! I’ll give you eight recommendations in this episode.

Here are a few recommendations that just about everyone should follow —

  • * Get a bank account that’s just for your side hustle.
  • * Similarly, get a separate credit or debit card you use only for expenses associated with your hustle.
  • * Be fast with invoicing.
  • * Set aside at least 25 percent of your hustle income for taxes.
  • * Legal structure: operating as a sole proprietor is perfectly acceptable for many hustles.
  • * Right from the beginning, set up a very simple accounting system.

Two recommendations that are somewhat psychological, but still very helpful:

  • * If at all possible, set aside a dedicated hustle workspace, even a small one, in your home or apartment.
  • * Once you’re making money, pay yourself first.

Listen to today's Classroom episode to learn more...



If you expect to produce income this year, make sure you have a dedicated bank account for that income. Keep it separate from your other income.

Part II: Track your expenses using one of those systems I mentioned, or if you’re a spreadsheet person, just do it that way—but do it some way.

  Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,


Download Episodes By Months

Season 5 (2021): JAN | FEB | MAR | APR | MAY |

Season 4 (2020): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 3 (2019): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 2 (2018): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 1 (2017): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |



Want to build any kind of website for your hustle? If so, you'll need somewhere to host it! This is the reliable company I've used for my past 5 websites. It's cheap, flexible, and you can get support 24 hours a day.

Get your own hosting plan for just $5 a month!

Learn More


Earn 50,000 travel rewards points (enough for 2 round-trip plane tickets or $625 in travel credit). You'll also earn 2x points on all travel and dining spend, with zero foreign transaction fees.

I use this card every day all over the world! ✈️

Learn More

Sponsors & Gratitude

Don't Do Business Without It

Side Hustle School is brought to you by American Express.

No matter what you do in business, from working nine-to-five to working five-to-nine, it’s easier when you don’t go it alone. Get the powerful backing of American Express—don't do business without it! 💳

Visit American Express

Like the Show? Leave a Rating!

Side Hustle School is for you! If you’re enjoying it, please take a quick moment to leave a rating or write a quick review. It's really easy and it makes a difference! ✅

It also makes a huge difference when you tell your friends about the show. Remember, it's 100% free and listener-supported.

Here's How

Keep in Touch

There’s a new story every single day on Side Hustle School. Episodes are produced to be short and to the point—I know you’re busy. Be sure you subscribe to get instant notification of the day’s broadcast!

To infinity and beyond,

Chris Guillebeau