Starting your own buisness seems overwhelming, and depending on your outlook, it can be. However, it’s not impossible. It’s not strictly for some buisness elite who are endowed from birth to be successful.
For us, we can’t afford to do anything the easy way. We outsource as little as possible, including advertisement (something at this point in time we have a very weak grasp of). Everything other than the actual printing and acceptance into distribution channels (Nessesary for publishers to sell in many retailers), is done with our own crew.
There are a handful of things that come with buisness: Actually obtaining a buisness liscence, taxes, expenses, inventory, marketing, demographics, putting the right tools in the right place for those demographics to notice, ect, ect.
Here, I just want to focus on the fact that it is possible to learn the trade and techniques of any industry. You may be going up against some well established companies who practically pioneered your respective industry, but even they started out as a small, simple idea. It’s not out of reach to compete with these companies. It may seem like laws and taxes and paper work rule the world, but when those things start to feel like some beast hiding in the white house basement (on legal matters) or some creature made entirely of ink and paper (your competitors) endowed with all knowledge of the respective area, you have to realize they are really just other people. Once you can get that into your mind, you’re far more likely to act, and if you keep that in mind, you’re far more likely to succeed.
Starting a buisness is relatively easy. You can run down to the local courthouse yourself and file, or you can get some third party co. to do the dirty work for you. Legal Zoom was recommended to me several times, unfortunately, I chose to do it the hard way. Just so it’s said, I saved money that way too. There’s an ocean of other services out there, and if you chose to use one good for you. At least you’ll know that if something goes wrong in setting up the buisness, you’re not to blame (lawyers may see this otherwise, just so you’re warned).
So we’ll focuse on one or two things concerning opening a buisness. I know it’s probably funny to see that on a publishing blog, but we might as well start at the begining.
Before you commit, take a few days and start surfing the web. You essentially need to know three things: Where to obtain a license, How to file taxes, and the laws involved. Unfortunately, I cannot speak much on any of these three, but I can point you in the right direction. Start with your states IRS site, This will introduce to you the taxes and various licenses you may need. For instance, in Georgia, you need a barber license to cut hair. God only knows why it’s illegal to cut hair without a license, but it is. The same thing goes for an electrician, which is much more understandable. Your hair grows back, but a burning house doesn’t. I say that because you might be surprised what your state requires from you before you open a business. Some of these things require some formal education. These sites should show you how to obtain one, and give you the option to file the paperwork online. Even if you’re not ready to get your license, it doesn’t hurt to click the link and start thumbing through the pages. Don’t file yet, but get an idea of what’s involved.
Another great way to obtain this needed information, after visiting your IRS website, is to start google searching. I know it’s probably frowned upon, but the majority of people who have businesses did not start their own ‘HOW TO’ site concerning their industry. They do sometimes talk about it in forums, though. I probably don’t need to say that you should take some of those things with a grain of salt, but you should. Make sure what you’re reading pertains to your state, and the same industry.
Obtaining the license is usually easier. The best way to start is by visiting your county’s website and start searching for their business license section, or home office section, or whatever looks business related. You may have to actually look for this, in GA, a sole proprietorship is actually just a tax form you file quarterly, and as we have come to understand it, either by mistake or in order to save some money, you do not have to file for a home office license (this raises a few unanswered questions in our company, in which case we gave the gov’t the benefit of the doubt and went ahead and obtain this home office liscence, but this is only a starting point). Be prepared to pay a filing charge.
Your county/state may approach the subject differently, and is also something to requires some research.
Taxes? Do we even want to go there? No we don’t. If I start talking to you about it here, you might die a little on the inside. Do your own research on this, because states and counties are different, the paper work is different, the requirements are different. As I understand it, you typically get involved with a schedule C with your normal annual taxes, and also report quarterly. That’s all I will say here, because anymore and you may get lulled into a state of “oh, it works this way for him, it’ll work this way for me’. Which it very well may not. And suddenly you’re in a world of trouble. The key element here, as much as I hate to be this simple and seemingly insincere, is to do your own research. Remember how I said we can’t afford to do anything the easy way? Neither can you.
Whatever you do, don’t loose hope; don’t let your dream fall to the side. It really is as simple of filing for a business license, making sure you have the occupational license (which you may not need at all, it depends on your state given your industry), and one or two additional tax forms. If you can take two hours to get the license, and spend an hour every three months to handle taxes (provided you can do some book keeping, which is basically what you’ve been doing with your checkbook), you have it in you to start a business.
I will say this though, and I won’t get into it here, but there is a different between a business and a hobby. I suggest googling ‘buisness or a hobby’. You’ll get millions of pages, all of which say the same thing. Don’t bother filing for a business if you’re not making more than lunch money.
Before you commit, take a few days and start surfing the web. You essentially need to know three things: Where to obtain a license, How to file taxes, and the laws involved. Unfortunately, I cannot speak much on any of these three, but I can point you in the right direction. Start with your states IRS site, This will introduce to you the taxes and various licenses you may need. For instance, in Georgia, you need a barber license to cut hair. God only knows why it’s illegal to cut hair without a license, but it is. The same thing goes for an electrician, which is much more understandable. Your hair grows back, but a burning house doesn’t. I say that because you might be surprised what your state requires from you before you open a business. Some of these things require some formal education. These sites should show you how to obtain one, and give you the option to file the paperwork online. Even if you’re not ready to get your license, it doesn’t hurt to click the link and start thumbing through the pages. Don’t file yet, but get an idea of what’s involved.
Another great way to obtain this needed information, after visiting your IRS website, is to start google searching. I know it’s probably frowned upon, but the majority of people who have businesses did not start their own ‘HOW TO’ site concerning their industry. They do sometimes talk about it in forums, though. I probably don’t need to say that you should take some of those things with a grain of salt, but you should. Make sure what you’re reading pertains to your state, and the same industry.
Obtaining the license is usually easier. The best way to start is by visiting your county’s website and start searching for their business license section, or home office section, or whatever looks business related. You may have to actually look for this, in GA, a sole proprietorship is actually just a tax form you file quarterly, and as we have come to understand it, either by mistake or in order to save some money, you do not have to file for a home office license (this raises a few unanswered questions in our company, in which case we gave the gov’t the benefit of the doubt and went ahead and obtain this home office liscence, but this is only a starting point). Be prepared to pay a filing charge.
Your county/state may approach the subject differently, and is also something to requires some research.
Taxes? Do we even want to go there? No we don’t. If I start talking to you about it here, you might die a little on the inside. Do your own research on this, because states and counties are different, the paper work is different, the requirements are different. As I understand it, you typically get involved with a schedule C with your normal annual taxes, and also report quarterly. That’s all I will say here, because anymore and you may get lulled into a state of “oh, it works this way for him, it’ll work this way for me’. Which it very well may not. And suddenly you’re in a world of trouble. The key element here, as much as I hate to be this simple and seemingly insincere, is to do your own research. Remember how I said we can’t afford to do anything the easy way? Neither can you.
Whatever you do, don’t loose hope; don’t let your dream fall to the side. It really is as simple of filing for a business license, making sure you have the occupational license (which you may not need at all, it depends on your state given your industry), and one or two additional tax forms. If you can take two hours to get the license, and spend an hour every three months to handle taxes (provided you can do some book keeping, which is basically what you’ve been doing with your checkbook), you have it in you to start a business.
I will say this though, and I won’t get into it here, but there is a different between a business and a hobby. I suggest googling ‘buisness or a hobby’. You’ll get millions of pages, all of which say the same thing. Don’t bother filing for a business if you’re not making more than lunch money.
*For the record, this is a part of what we at 357 press have gone through to get here now. We felt it nessesary to share this much with you, because it is one of the more important parts. But don’t take our word for anything, we encourage you to research, and have posted this little piece hoping to point you in the right direction, and to help you realize it’s not as daunting as you may think. Stay inspired.*