🚀 Starting a Business

Start Your Business: The 90-Day Setup Playbook

Ditch the startup confusion for a clear 90-day plan to launch your LLC, get an EIN, and send your first invoice.

By MyBizNerd Team · Published

Key Takeaways

  • Register your LLC early to separate your personal assets from your business debts, which is vital for legal protection.
  • Apply for an EIN (Employer Identification Number) for free at IRS.gov to open a business bank account without using your personal Social Security number.
  • File your Beneficial Ownership Information (BOI) report within 90 days of formation to avoid fines that can reach $591 per day.
  • Set up a separate business checking account immediately to prevent 'commingling' funds, which can ruin your legal liability protection.

According to the U.S. Bureau of Labor Statistics (BLS) in 2023, about 20% of new businesses fail within their first year. Most of these failures aren't because the idea was bad. They happen because the owner got buried in paperwork or ran out of cash before the first real customer showed up.

In October 2023, I watched a friend spend $4,000 on a fancy website before he even had a business bank account. When his first client wanted to pay him, he had to ask them to Venmo his personal account. That's a huge mistake. It makes you look like an amateur and puts your personal savings at risk. You can do this better by following a simple 90-day sequence.

Month 1: The Legal Foundation

Your first 30 days are about making the business real in the eyes of the government. Don't worry about logos yet. Worry about your structure.

  1. Pick a name and check it. Go to the USPTO.gov trademark database to make sure you aren't stealing a name from a big company. If you're a plumber in Ohio, search your state's Secretary of State website too.
  2. File your LLC. An LLC (Limited Liability Company) creates a wall between your house and your business lawsuits. It generally costs between $50 and $500 depending on your state.
  3. Get your EIN. This is your business's Social Security number. You need it for taxes and hiring. You can get one for free in ten minutes at IRS.gov. Don't pay a third-party website $200 to do this for you.
  4. The FinCEN Requirement. As of 2024, most new small businesses must file a Beneficial Ownership Information (BOI) report. It tells the government who actually owns the company. You've 90 days from the time your LLC is approved to do this at FinCEN.gov. If you miss this, the fines are brutal.

What this means for you: Getting the paperwork right in Month 1 prevents the IRS or state government from shutting you down before you even start.

Month 2: The Money Machine

Now that you've your EIN and LLC papers, you need a place for the money to go.

Go to a bank like Chase, Wells Fargo, or a local credit union. Tell them you want a 'Small Business Checking Account.' You'll need your EIN and your filed Articles of Organization from the state. Put at least $100 of your own money in there to start. From this moment on, you never use your personal debit card for a business expense. If you buy a pack of pens for the office, use the business card. This keeps your books clean and makes tax season much easier.

Next, pick a way to get paid. If you're a service business, look at tools like QuickBooks or Freshbooks. If you're retail, Square or Shopify are the standard. (Disclosure: we may earn a commission if you sign up through our links.) These tools let you send a professional invoice that clients can pay with a credit card. It looks much better than a PayPal link.

Month 3: The First Customer

This is where you shift from admin work to sales. You don't need a $5,000 marketing agency. You need to tell people you exist.

  • Google Business Profile: This is free.

If you're a local business, this is how people find you on Maps. Fill it out completely.

  • The 'Beta' Client: Find one person who needs your help. Offer them a small discount in exchange for a public review.
  • The First Invoice: Send that invoice through your new software. When that money hits your business bank account, you're officially a founder.

How much does all this cost to start?

Most solo owners can get through these 90 days for under $1,000. Your biggest costs will be the state filing fee for your LLC and your first month of accounting software.

Do I need a lawyer for the LLC?

If you've business partners, yes. Spend the $500 to $1,000 for an operating agreement. If you're a solo owner (a 'Single Member LLC'), you can usually handle the basic state filing yourself. If you feel stuck, a one-hour call with a CPA (Certified Public Accountant) is the best $200 you'll ever spend.

What are you planning to sell in your first 90 days?

Related free tool

First 30 Days After Forming Your LLC — Walk through the 10 steps every new LLC owner has to knock out. Free, no signup to start.

📋 Disclaimer

This article is for informational purposes only and does not constitute legal, tax, financial, or professional advice. Laws and regulations change frequently, and the information presented may not reflect the most current legal developments. Always consult with a qualified professional (CPA, attorney, financial advisor) before making business decisions based on this content. MyBizNerd may receive compensation through affiliate links, but this never influences our recommendations.