Episode 26 – When Should You Turn Your Side Hustle Into a Formal Business w/ Mike Montali

mike montaliYou have a side hustle? Great! One of the questions you might have is when do you turn this side hustle to a formalized business. No worries, that is why I have this interview with Mike Montali for you from Harbor Business Compliance. Their website has been called by some the “wikipedia of compliance”. His company helps entrepreneurs and non-profits file all of the require paperwork to become a formal entity. The Company has been around for about 2 years now and has over 300 satisfied retainer clients.

Mike actually got his start in entrepreneurship as a #5to9warrior before starting Harbor Business Compliance. While working full-time at a law firm as a legal risk management consultant he was turning his hobbies into part-time gigs. Harbor Business Compliance started because it was satisfying his own need and was something that he had interest in which is preventing issues for business owners.

In this interview with Mike Montali we talk about:

  • Why you should consider starting your business with a partner
  • How his part-time gig helped launch his business when he was laid off
  • Why you have to follow market demand when picking a side hustle
  • When you should formalize your business or non-profit
  • The biggest mistake most small businesses make when it comes to compliance
  • What options are available when setting up a business
  • Are you considering incorporating too early
  • The easiest way to avoid headaches
  • The secret sauce to marketing
  • And much more…

Cool things mentioned in this episode:

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