Benefits Disadvantages Is dropshipping for you?

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Remember, the business structure you choose will determine 
much of how you have to run your business, so make sure the 
one you pick is the best for you.
Getting your Employer Identification Number (EIN)
This is a small but important step. Most people who run a business are required to 
have an EIN. An EIN is used by the IRS to identify a business entity. An EIN is like 
a Social Security number for a business, so it’s important to have. Thankfully, it’s a 
snap to get one. 
You can apply for one online here
.
However, not all business owners need an EIN. Visit 
this page
 to see if you need 
one or not.
Miscellaneous Legal Necessities
When it comes to legal must-haves, there’s much more than what I’ve discussed 
in this chapter. Trademarking your store name, making your email list legal, and 
protecting your customers’ data are a few of the considerations you’ll want to 
make.
Shopify created the 
Definitive Legal Guide to Ecommerce
 to help with some of 
these areas. However, this guide is not legal advice, so it can only share information 
like I’ve done in this chapter.
Depending on where you are, different rules may apply, so it’s always best to 
consult a local attorney. Your state and city might have official information on 
starting an online business, and often there are specific rules for entrepreneurs 
who operate a business from their home.

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Finances
Business finances are much more extensive than personal finances, so you’ll want 
to make absolutely sure you have everything set up and ready to go. The term 
‘finances’ is broadly applied to a range of financial matters, including taxes and 
payment processing.
If you’re using an ecommerce solution like Shopify, you’ll find business finances 
become a whole lot easier. However, you still need to read up on financial 
requirements. While ecommerce solutions simplify finances, they don’t eliminate 
them.