The CC Small Business Alliance

[lmg159]

That sounds like a good group to start, no? ;)

I know lots of women or their DH's around here are entrepreneurs, so I thought I'd start some conversation about it :)

What is your business? How long have you been up and running? How's it going? What tips do we have to share, etc?

I actually haven't started my business yet. I'm hoping to start a craft business of some sort since I love everything having to do with crafts, but I haven't narrowed it down enough yet to be able to start gathering supplies in a cost-effective manner. I'm going out the next few weekends to arts and crafts festivals to start doing some market research and I'm working on finding out how to get my business license in my state.

Looking forward to hearing from some great business owners around here!

[marathongirl]

Hi! Great thread to start! I'm also trying to get my business up and running. I've had one customer who said they were more than satisfied with the final product, but it's been very slow since then.

Anyway, my business is quilting. Making quilts and I hope to break into the longarm quilting business where people send you their quilts tops and you do all the design work on it. I set up my own website but it definitely needs some fine tuning which may be what the problem is.

I'm currently a SAHM with a very active 10 month old, so I also need to find adequate time during the day. Or DH needs to handle babycare in the evening so I can work.

Good luck getting started!

[JennW]

*subscribing*

[artist]

Cool thread idea!

Do you have a tax exempt ID? If not, consider applying for one so that you won't have to pay taxes on your supplies. Of course then you will have to pay state taxes on any sales (and will need either your SS# or an EIN to pay your taxes). Also, consider getting a seperate bank account, still with your name of course, and use that as your business account.

The main thing though I guess is really have a well thought out business plan, but only share that plan with the few people who need to see it. Then go from there I guess.

I am just thinking of things I learned recently at some workshops on the business of art. I would assume that might be similar to the business of crafts. The advice I just provided are all things I have yet to do, though it would be beneficial for me to get the tax exemption part done as I spend a ton of money on paints and art supplies!

If anyone else is persuing a business as an artist (sole proprietorship) and you're worried about the fact you might not make any profit in a 3 year time limit, it really doesn't matter so long as you at least have a business plan. You may never have to show the plan to anyone, but if you have one, if the IRS ever tried to audit you or something, you can show that to them so that they realize you really are TRYING to make a profit and not simply trying to cheat on your taxes.

Of course save files for many years, at least 7-10, if not forever. Have a good filing system in place for things like receipts, invoices, bids, etc. Keep a phone log so that way you can adequately keep a record of who has called you, what day, and what time.

Don't start a business in something you don't love. Be willing to work your butt off, perhaps while working at a fullt-time job in the initial stages. Try if possible not to go into debt or fund the whole project with credit cards.

Network. Network. Network. Network.

Charge a fair price. Don't undercharge. Think about time involved in research, gas, setting up, cleaning up, etc. Do you want to charge money for daydreaming/brainstorming if that is a critical part of your work?

How do you charge for your product/good? (In other words, what is considered "one unit" and how much do you charge for that?) When you determine what a "unit" is (be it a product or a service), determine how many units you need to sell to break even. And what to you is "breaking even"? Remember, whatever your definition is of "breaking even", you may not accomplish that for quite some time. So, you must be patient. Thus the reason for only starting a business in something you are quite passionate about.

For example, I will create art whether it makes me money or drains my own bank account. I just can't help it! So, why not try to sell my work and make a profit? Worst thing that can happen is I don't sell anything but I feel satisfied that I've created some art. So, if you have the same passion for something...be it quilts, event planning, real estate, whatever, then I say go for it. If you're only remotely interested in your business, the customers/clients will notice that.