You need a business structure, finances, and an identity.

1) Name

Time: 5 minutes

Cost: $0

Come up with a name for your company. Use ChatGPT https://chat.openai.com: "Give me 10 examples of a good name for a new business doing [service/product] in Santa Fe"

Choose one. Don't overthink it. Ensure the product or service is in the name.

2) LLC

Time: 20 minutes

Cost: $50

Create an LLC at the NM Secretary of State. This takes several steps including downloading/ uploading a form. Annoying. Just do it. At the end, click "Print Filing Output". Text it to yourself. You'll need it later.

www.businessportal.nm.gov/start/register-legal-structure/register-an-llc/

3) EIN

Time: 15 minutes.

Cost: $0

Request an EIN from the IRS website. Follow the instructions here: https://sa.www4.irs.gov/modiein/individual/index.jsp.

Some options: LLC. 1 member. Started New Business.

Print out your IRS EIN certificate or text it to yourself. You'll need it later.

4) Banking

Time: 45 minutes

Cost: $0

Go to the bank you currently have an account with. Tell a customer service rep you want to open a business checking account under an EIN. Present them with your ID, the LLC certificate, and the IRS EIN document.

5) Website

Time: 30 minutes

Cost: $35/mo + $25/year

Go to squarespace.com. Create an account, and follow the prompts to choose a template, buy a custom domain name, and subscribe to a low cost monthly plan. Pay monthly to start.

Publish your site.

And done.

You've done all the hard boring work of creating a business in less than 2 hours.

You have a structure: an LLC.

You have your financial life: a checking account

You have your identity: name and website

Congrats!