Are you thinking about starting a business in 2015?

Don't overthink it. Get ready to research! Start with the SBA website. Get familiar with the information and steps that are listed there. The website is MASSIVE! Take time to browse, read, and bookmark articles particular to your situation. There is so much information available to you for FREE! Also, get a few books geared to your intended industry. I purchased the Crafty Superstar by Grace Dobush (pictures below), and there is a newer updated version available now! Research tax laws in your county and state. Some states require you to file a Business Privilege and/or use Tax within 2.5 months of filing your business formation documents. When you start your business, you are considered a sole proprietorship and all income is personal income. You can elect to change your business status at any time to an LLC, partnership, or corporation by filing paperwork within your county/state, but be aware of the implicaions of changing your status. You will also need to file for a FEIN once your election changes.

It's also important to spend some time on the FDA website if you are going into the product industry like Blessed Body Brand. You need to know what you can and can not say on your labels, website, or in person regarding the efficacy of your finished goods. Insurance is important as you begin to sell, but I didn't make the investment until I was sure I was going to be able to sustain a business. The Indie Beauty Network is awesome, so I'm a member there!!! I have insurance through the Handcrafted Soap & Cosmetic Guild because at the time they didn't offer just a membership, and I need their online storefront (a decision that I would gladly make again). I'm still working out of my kitchen, but I am looking to expand. Keep in mind the following information as you begin the process of starting your venture on the business side:

1. Your business will direct your needs. Don't rent a storefront just yet!
2. Focus your product offerings when you're just starting off.
3. Know what is and is not allowed to be sold in your state. Some states are stricter than others when it comes to the personal care industry.
4. As you grow and your customers begin to make requests, then you can expand, but to ensure you minimize startup debt, stay focused. I learned this the hard way!
5. There's a lot of research involved.
6.  KEEP A NOTEBOOK HANDY! I advise writing things down in a notebook if that helps you to retain information better. You may also create a Word or OneNote file with all of your findings and ideas. This will help keep you focused, motivated, and accountable.

There's s much more that I can say, but I'll save that for the next post. Happy venturing!

ISBN: 978-1440320378

ISBN: 978-1600613203