Nov 18 2008
Home Office: Early days of starting a small business
I love talking to people that are just beginning to form a small business. They are excited and scared at the same time. Big ideas abound – experience is still down the road a ways.
This is typical for those that have realized their hobby has a chance to thrive as a small business. They know how to sell because they are enthusiastic. They are still surprised that someone is willing to pay for their product or service. Recently I reminded a friend that she is a professional photographer now that she has been paid to take senior photos for a friend (client).
She is so excited that someone loves her photos well enough to pay for them. Actually, she had not thought about turning this opportunity into a business. I tossed some tips to her and now she is excited that she is starting a small business.
I did not want to overwhelm her all at once so I suggested that she write down every dollar that she spends or takes in and to make a list of all equipment and supplies that she has already bought. I reminded her to consider taxes when she sets her prices. She admitted that she had not thought that far in advance.
There is a lot to consider when starting a small business and I will be writing about some of them going forward. I will share some of my own experiences as well as those of other small business people I know.
