SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Sign up for the Hidden Business Ideas Letter Free edition, and receive a free report straight to your inbox: "Idea that works in a pandemic: Ordinary housewife makes $50,000 a month in her spare time, using a simple idea - and her driveway..."

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #2  
Old March 20, 2009, 08:21 AM
Sandi Bowman
 
Posts: n/a
Default Re: Hi all :)

Best advice I can offer: set your business to be up as a BUSINESS right from the start. People try to 'ease into' or 'test the waters' by doing things like a hobby at first. Testing and going slow at first is fine. What 'gets you' is when you go to do it like a business, how do you know what to carry forward and what not to, how do you set things up on those things you've already started and incorporate them into your official business and so on. Depending upon the business, you can get into a real fiasco.

For example, if you purchase 'a few tools you need' while you're in hobby status, you will find yourself at a tax disadvantage when you convert to a business. This CAN have long-term effects on your business profitability...again depending upon the business and how you set it up. Doing things piece-meal can leave you in a difficult position when determining the value of your business and proof of how much you actually put into the business. Not recommended. BTW I'm not talking about boot-strapping, which is a subject unto itself.

Lots of luck in your new venture.

Sandi Bowman
Reply With Quote
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Other recent posts on the forum...


Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | Hotsheet Profits | The Art of Leverage | The Success Report | Persuade via Remote Influence | Affia Band | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine) | The Fly Low Collect Dough Update Hotline

Get the report on Harvey Brody's Answers to a Question-Oriented-Person


All times are GMT -4. The time now is 10:07 AM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.