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Any ideas on how to create and promote a business?

Discussion in 'Chit Chat' started by GRM, Sep 24, 2017.

  1. GRM

    GRM
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    Hi, I started customizing jackets and I would like to make it a hobby and start a business. Any tips ?
     
  2. Nosuchj

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    use eBay to sell
     
  3. Twist

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    Either Ebay, or Etsy, or both will be good venues for what you're doing since you're doing customizing instead of just reselling.

    At some point, you are going to need to choose between hobby and business... at least if you want it to be a successful business, yeah? You can still enjoy your work, but the mindset is different, and will impact how well your business does.

    Some things to do... and consider:

    1) Where to sell. Starting out somewhere like Ebay or Etsy is usually best, as the platform is already in place and you just add your product to it. Such sites also have built in traffic, which means less effort than a stand-alone website in getting people to come see your stuff online.

    2) Local laws, taxes, and ordinances. You need to look into if you need a business liscense, what kind of taxes (if any) you should be collecting, etc. Laws are different from state to state, so it's important you find out what the requirements are for your state, county, and possibly city as well.

    3) To sell online, you need good photos, accurate descriptions, etc. "Good enough" when presenting your product is not good enough. Crappy photos mean your item might never sell, no matter how good the item or craftsmanship, bad or inaccurate descriptions can damage your business because people will be pissed if they buy something and get something other than what they expect.

    4) Learn about SEO and marketing techniques. Social media such as Facebook, Instagram, and other venues such as blogs and other media are excellent tools if used intelligently. SEO (search engine optimization) is important to be found on the internet, which is vast in scope.

    5) Consider hiring an accountant for your year-end taxes (or possibly quarterly taxes depending on the tax laws in your state) and for advice on tax related questions and issues. H&R Block is not good enough. You need someone that specializes in small business taxes, as they will know all the current laws and deductions, and are more likely to help teach you what you need to know to assist them in doing your taxes than a cookie-cutter mass market office.
     
  4. GRM

    GRM
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    Ok, thanks a lot for your advices.
     
  5. Quantumreality

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    Hey GRM,

    As @Twist noted, you really have to decide between just making customized jackets as a hobby and actually starting a business.

    If you are decide to go for the a business, I have a couple of additional suggestions. Look into creating a Limited Liability Corporation (LLC). It's not hard to do and you can look it up online, but helps to separate and protect your private assets in case your business encounters financial problems. Also, you should check for local (free) small business mentors with whom you could meet, let them review your business plan and get their thoughts on your ideas for creating and running your business.