Now that I've planned out what I need to do before the business can get going, I need to get some things together so the business will be ready to run when the infrastructure is built up. Some of my decisions will have to remain unmade until I decide for certain whether to incorporate or not, while others can be taken care of at any time. I plan to start getting everything as ready as possible so that things can go ahead smoothly and quickly once I'm home.
1) Payment Processing
There are a lot of options for this one. Fortunately, the decision is a lot easier than most because I can always add or change processing methods as time goes by. Adding is better, since it will allow customers who paid through the old systems to keep doing so, of course.
Naturally checks and money orders will be accepted for people who prefer to mail payments. I'll have to work out a plan for how to handle checks, clearing them and whatnot, but generally checks are fairly secure. The tutoring company I used to run never had problems with checks or money orders.
For credit card payments, I'm currently planning to accept Pay Pal and Google Checkout to start with. These are both big names in payment processing and offer a variety of options. If I incorporate immediately, I will also set up a merchant account and potentially be able to accept credit card payments directly. If I choose to do that, I will most likely go through the Toronto Dominion Bank. I had very good experiences with them in the past.
2) A Web Site and Web Hosting
I've already decided to use Mozilla's Seamonkey Web Application Suite to design my web pages. Now I'll just need to find a host and register the domains. I won't be doing much research into hosting for now, since it will be easier and cheaper to look into it when I'm home. Most likely I'll be looking at a local host if possible, and if I need to phone them to verify anything it'll be much more convenient when I'm also local. I have a few domains in mind for the web site, and so far it looks likely that they are available.
3) A Way to Attract Viewers
As the ideal page viewer is someone who is interested in Fantasy, Science Fiction and Horror, I'm planning to add product reviews to the site, focusing on Movies, Music, Books and Games related to those genres. I already write review articles for a club newsletter, so this shouldn't be too tough. This will also allow more places for Google Adsense ads and Some reasonable Amazon affiliate ads. Given some time and effort, the ad revenue could end up paying for the overhead costs of the business.
4) Readers and Writers
Naturally, if the main business is going to be online publishing, I'll need something to publish. As such I'll be posting ads at some online writing groups looking for writers, and probably using my friends to start with to read over submitted stories for suitability. I may use some of my own writing if I need something to fill out an issue. I'll be advertising with local fan clubs and hopefully using word of mouth to sell subscriptions. As time goes on, and money comes in, I'll look at paid advertising, such as PPC ads, particularly Google's Adwords program.
5) Record Keeping Software
I'm going to need some sort of bookkeeping system to keep track of everything. This is an area I'm not that strong in so it's going to take some time and effort to research options and come up with a system I can work with and follow. It's entirely likely I'll need to hire a bookkeeper to do most of the work. I have done that before, advertising through the Canada job board for students from places like the University of Alberta and NAIT. Edmonton has a lot of colleges and trade schools which can provide low cost workers for things like bookkeeping.
6) Delivery System
At the start, this shouldn't be a problem but as my readership (hopefully) grows, I'll need a separate system for sending out the finished product, or I could be at risk of being labelled a spammer. Fortunately there are lots of programs on the net to do just this. The one I see in use most often is Aweber, and this is the one I'm planning on making use of. I'll probably sign up immediately so that subscribers won't have to reopt in to receive the materials. From what I can tell I can grow with Aweber so once I set up my account with them, I won't have much need to change.
Once I get all these things set up, I'll be ready to start the business. In the meantime, I'll be doing more research and working on getting the web page set up. I'll keep posting how things are going to this blog. Any questions or comments, please feel free to send them here, I'm still very much open to suggestions.
Sunday, June 28, 2009
Saturday, June 20, 2009
First steps
When starting any new project, it's always a good idea to assemble a list of things you are going to need. The next few posts will be exactly that, a set of lists of what I need to get my new business up and running. Naturally any thoughts you the readers may have about that will be welcome, as well as any suggestions about how I can meet these needs.
This post is going to cover the things that will be needed before I can even think about getting the business going.
1) A job.
I can hear the question now, "Why do you need a job? Isn't the point of running your own business getting out of needing a job?" Well, yes, that is a big part of it. The problem is, a new business doesn't generally start making money over night. It takes time for things to get working. I've tried using a business as my sole means of support, and it didn't work out so well. If I have a job, I won't be desperate for money all the time, and so, hopefully, I'll make fewer mistakes in keeping the business going.
Another good reason for having a job before getting the business going is that some parts of the business will require money to get going. It's a lot better if that money is coming from a renewable source so that I can wait out the lean starting months and let the business grow to the point that I can live off it.
On the down side, I'm in South Korea right now, which can make job hunting difficult, since any job I'll be taking will be in Canada. On the up side, we have the internet, obviously or how would you be reading this? There are a number of sites that let a person look for a job around the world.
a) The Canadian Government's Job Bank.
I can look for jobs across the country here. The listings are divided up by industry and location so I can find the perfect job for me. Well, not really, but I can get some leads on jobs I might be able to tolerate while I get my business set up. As a government website, I can have some confidence that these are legitimate job offers.
b) Jobsearch.ca
Lots of resources and links for job searches across Canada. The above two also offer free postings for companies looking to hire. That could be very useful later when I'm looking to hire a staff for my own business.
c) Google
Yes, I know, it seems strange to list Google as a job search resource, but type in "job search" and add your location, and you'll get a lot of helpful leads.
d) Other job search sites such as Monster.com, Workopolis, Craigslist and a host of others.
There are too many job posting services on the web to list here, which is a good reason why Google is up there. There are pros and cons to each one but as long as you are patient and careful not lot let too much personal information get out, they can all be useful.
Naturally, being Canadian, my links are mostly Canadian, but similar places exist for other countries. I'll list some at the end of this post.
2) An idea
There's not much point going through all the steps of setting up a business if you don't know what the business is actually going to do. I already have my business idea, so this step is taken care of. I'm going to produce monthly antholgies of short stories in PDF format. I plan to have more stories in each than other periodicals, focusing on entertainment value and writing skill. At the start my focus will be Fantasy, Science Fiction and Horror, since that is what I read the most.
If you don't have any ideas, then look at your hobbies. A business tends to be easier to run if it is tied to something you like to do already. If you are interested enough in your hobby, then you already know a lot about it, and you can share that knowledge with others. I highly recommend thinking about ways you can turn your hobby into a business if you are interested in starting one.
3) A business structure
This is the biggest, and possibly most expensive, step in setting the business up. I know the idea is to run a business with a low startup cost, but this step may be expensive. It also may not depending on what your goals for the business are.
For Canadians, there are three choices: Sole proprietorship, Partnership and corporation. The United States adds different types of corporations and other countries have their own structures. It's best to seek out your own government's business pages and find out what the different structures mean.
For Canadians:
a) Sole proprietorship
This means you are the business. All the money coming in goes into your personal income, and the rules for writing off expenses follow the personal income tax rules. The big disadvantage to this structure is personal liability. If for whatever reason your business is sued, it means you are being sued, and the plaintiff can go after personal property in the settlement.
b) Partnership
This is similar to a sole proprietorship, except more than one person is involved. In a partnership, all partners share in the profits and liabilities of the business. This means that if something goes wrong, creditors can go after the personal property of all partners, even if the problems are from the actions of only one of them.
c) Corporation
A corporation exists as an entity on its own. This means that the corporation itself, not the people withing the corporation, makes money, pays taxes and owns property itself. A corporation provides the most security for the owner(s) but is also the most expensive and complicated business structure. I personally prefer to run a business as a corporation, but due to finances it may not be possible at the start.
I highly recommend talking to a lawyer, preferably one with experience in business law before making a final decision on your business structure. Talking to an accountant would also be a good idea.
4) A business licence and other identification
For me, that means a trip to a city office to get a local business license, and some emailing to the Federal Government to get a GST number. As a Canadian business I will have to charge GST on any sale I make to Canadian clients. Luckily, I live and will be operating my business from Alberta, so I won't have to charge any Provincial sales taxes. In Canada and the United States you are required to collect any Federal, Provincial or State sales taxes to any client that lives in the location you run your business from. That's another good reason to talk to a lawyer before starting up, finding out what taxes you'll have to collect and pay. Generally, getting the required licenses and identification numbers and such is not all that difficult.
So, that's what is needed before the business really gets started. Next time, I'll outline some things that will be needed to actually get the business off the ground. For now, here are some links for the international job hunters.
US Job Search
USA Job Search
This is the official US Government job site, so it's bound to be a good first place to look.
Job Bank USA
An online job search engine. You can also post resumes here. Be careful how much personal information you put on any resume you post online. This one also seems to host popunder ads.
America's Employers
Another job search engine, with a lot of options on the front page.
United Kingdom Job Search
UK Jobs
Judging from the URL, this is a UK Government job posting site, so it should be reliable.
Click a Job
Billed as the largest UK job search engine, the site looks very impressive. It did take a long time to load for me, however.
Jobsite UK
Another job search engine, also allows you to upload your Resume or CV and get job offers by email. As always, be careful how much personal information you put on to an uploaded document.
Australian Job Search
Australian Job Search
The Australian Government job search site, it looks comprehensive and detailed.
Job Search Australia
Australian job search engine, you can also register for email alerts about new jobs.
SEEK
Job search engine that offers a lot of search customizability on the starting page. Choose key words, part time or full time, classifications, and locations at the start.
New Zealand Job Search
Find a Job
Government job search site.
SEEK
Job search engine that offers a lot of search customizability on the starting page. Choose key words, part time or full time, classifications, and locations at the start.
New Zealand Herald
Has a large job listing for all over New Zealand.
You can easily find more options on Google by typing in "job search" followed by the country you live in.
This post is going to cover the things that will be needed before I can even think about getting the business going.
1) A job.
I can hear the question now, "Why do you need a job? Isn't the point of running your own business getting out of needing a job?" Well, yes, that is a big part of it. The problem is, a new business doesn't generally start making money over night. It takes time for things to get working. I've tried using a business as my sole means of support, and it didn't work out so well. If I have a job, I won't be desperate for money all the time, and so, hopefully, I'll make fewer mistakes in keeping the business going.
Another good reason for having a job before getting the business going is that some parts of the business will require money to get going. It's a lot better if that money is coming from a renewable source so that I can wait out the lean starting months and let the business grow to the point that I can live off it.
On the down side, I'm in South Korea right now, which can make job hunting difficult, since any job I'll be taking will be in Canada. On the up side, we have the internet, obviously or how would you be reading this? There are a number of sites that let a person look for a job around the world.
a) The Canadian Government's Job Bank.
I can look for jobs across the country here. The listings are divided up by industry and location so I can find the perfect job for me. Well, not really, but I can get some leads on jobs I might be able to tolerate while I get my business set up. As a government website, I can have some confidence that these are legitimate job offers.
b) Jobsearch.ca
Lots of resources and links for job searches across Canada. The above two also offer free postings for companies looking to hire. That could be very useful later when I'm looking to hire a staff for my own business.
c) Google
Yes, I know, it seems strange to list Google as a job search resource, but type in "job search" and add your location, and you'll get a lot of helpful leads.
d) Other job search sites such as Monster.com, Workopolis, Craigslist and a host of others.
There are too many job posting services on the web to list here, which is a good reason why Google is up there. There are pros and cons to each one but as long as you are patient and careful not lot let too much personal information get out, they can all be useful.
Naturally, being Canadian, my links are mostly Canadian, but similar places exist for other countries. I'll list some at the end of this post.
2) An idea
There's not much point going through all the steps of setting up a business if you don't know what the business is actually going to do. I already have my business idea, so this step is taken care of. I'm going to produce monthly antholgies of short stories in PDF format. I plan to have more stories in each than other periodicals, focusing on entertainment value and writing skill. At the start my focus will be Fantasy, Science Fiction and Horror, since that is what I read the most.
If you don't have any ideas, then look at your hobbies. A business tends to be easier to run if it is tied to something you like to do already. If you are interested enough in your hobby, then you already know a lot about it, and you can share that knowledge with others. I highly recommend thinking about ways you can turn your hobby into a business if you are interested in starting one.
3) A business structure
This is the biggest, and possibly most expensive, step in setting the business up. I know the idea is to run a business with a low startup cost, but this step may be expensive. It also may not depending on what your goals for the business are.
For Canadians, there are three choices: Sole proprietorship, Partnership and corporation. The United States adds different types of corporations and other countries have their own structures. It's best to seek out your own government's business pages and find out what the different structures mean.
For Canadians:
a) Sole proprietorship
This means you are the business. All the money coming in goes into your personal income, and the rules for writing off expenses follow the personal income tax rules. The big disadvantage to this structure is personal liability. If for whatever reason your business is sued, it means you are being sued, and the plaintiff can go after personal property in the settlement.
b) Partnership
This is similar to a sole proprietorship, except more than one person is involved. In a partnership, all partners share in the profits and liabilities of the business. This means that if something goes wrong, creditors can go after the personal property of all partners, even if the problems are from the actions of only one of them.
c) Corporation
A corporation exists as an entity on its own. This means that the corporation itself, not the people withing the corporation, makes money, pays taxes and owns property itself. A corporation provides the most security for the owner(s) but is also the most expensive and complicated business structure. I personally prefer to run a business as a corporation, but due to finances it may not be possible at the start.
I highly recommend talking to a lawyer, preferably one with experience in business law before making a final decision on your business structure. Talking to an accountant would also be a good idea.
4) A business licence and other identification
For me, that means a trip to a city office to get a local business license, and some emailing to the Federal Government to get a GST number. As a Canadian business I will have to charge GST on any sale I make to Canadian clients. Luckily, I live and will be operating my business from Alberta, so I won't have to charge any Provincial sales taxes. In Canada and the United States you are required to collect any Federal, Provincial or State sales taxes to any client that lives in the location you run your business from. That's another good reason to talk to a lawyer before starting up, finding out what taxes you'll have to collect and pay. Generally, getting the required licenses and identification numbers and such is not all that difficult.
So, that's what is needed before the business really gets started. Next time, I'll outline some things that will be needed to actually get the business off the ground. For now, here are some links for the international job hunters.
US Job Search
USA Job Search
This is the official US Government job site, so it's bound to be a good first place to look.
Job Bank USA
An online job search engine. You can also post resumes here. Be careful how much personal information you put on any resume you post online. This one also seems to host popunder ads.
America's Employers
Another job search engine, with a lot of options on the front page.
United Kingdom Job Search
UK Jobs
Judging from the URL, this is a UK Government job posting site, so it should be reliable.
Click a Job
Billed as the largest UK job search engine, the site looks very impressive. It did take a long time to load for me, however.
Jobsite UK
Another job search engine, also allows you to upload your Resume or CV and get job offers by email. As always, be careful how much personal information you put on to an uploaded document.
Australian Job Search
Australian Job Search
The Australian Government job search site, it looks comprehensive and detailed.
Job Search Australia
Australian job search engine, you can also register for email alerts about new jobs.
SEEK
Job search engine that offers a lot of search customizability on the starting page. Choose key words, part time or full time, classifications, and locations at the start.
New Zealand Job Search
Find a Job
Government job search site.
SEEK
Job search engine that offers a lot of search customizability on the starting page. Choose key words, part time or full time, classifications, and locations at the start.
New Zealand Herald
Has a large job listing for all over New Zealand.
You can easily find more options on Google by typing in "job search" followed by the country you live in.
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