Phase four has a dependency chain. Doing it in order takes about a week. Doing it out of order means redoing parts of it.
Step one: settle the address first
This is the decision most people make casually, and it is first in the chain because it ends up printed on everything else.
The options, with honest tradeoffs:
Your home address. Free. It also becomes a matter of public record in most states through your registration filing, which is worth understanding before you choose it. It goes on your website, your invoices, and your registration.
A commercial mailbox service. Gives you a real street address rather than a PO box, which most banks require. Modest monthly cost. Verify the provider is a properly registered agency, as banks scrutinize some of them.
A registered agent service with mail forwarding. Handles service of process reliably and keeps your home address off some filings. This is a common choice for home-based operators.
Coworking or leased space. Appropriate if you need the space anyway; expensive if you are buying it only for the address.
Decide this before it propagates. Changing it later means amending your state registration, notifying the IRS, updating your bank, and reprinting everything.
Step two: get the EIN
Apply directly with the IRS. It is free, the online application takes about fifteen minutes, and you receive the number immediately during the session.
There are services that charge substantial fees to file this on your behalf. They are filing the same free form. If you find yourself on a site asking for payment, you are not on the IRS site.
Have your formation documents in hand before applying, since you will need the entity's legal name, state, and formation date.
Step three: open the business bank account
Bring the formation documents, the EIN confirmation letter, your operating agreement, your identification, and the business address. Requirements vary by bank, so call ahead and ask for their list.
What to weigh when choosing: monthly fees and how to waive them, minimum balance, transaction limits, cash deposit handling if you take cash, whether they offer a business credit card on the same relationship, and whether they integrate with the bookkeeping tool you chose in phase two.
Then the rule that makes the whole phase worthwhile: every business dollar moves through this account. Every one. Personal purchases do not touch it. When you need money personally, transfer it deliberately and record it. This one discipline does more for your liability position and your bookkeeping than anything else in the phase.
Step four: payment acceptance
With the account open, set up how customers pay. Card processing, invoicing, or a platform, depending on your model.
Compare on total cost, not headline rate — per-transaction percentage plus fixed fee, monthly charges, and payout timing. Payout timing matters more than founders expect when cash is tight.
Then insurance and licensing
General liability is the baseline for most businesses. Add professional liability if you advise, product liability if you make physical goods, and workers' compensation if you have employees, which is mandatory in nearly every state.
Licensing is genuinely local. Check your city, your county, your state, and your industry board if one exists. Your state's business portal is the place to start, and a call to the city clerk usually resolves the rest faster than an hour of searching.