Starting a Business -- Am I doing it right?

[jzq]

Hello all,

 

I have a website getting ready to launch, I'm meeting with my accountant tomorrow, and I'm going to set up an

appointment with a free small business counselor through scorela.org. Is there anything else I should be doing

right now? Or will most of my questions be answered by those folks with regard to business licensing, insurance,

taxes, etc.?

 

ANYTHING you can think of that I should be aware of would be most appreciated.

 

Many thanks,

Judith

[Jerry_]

Aside from having a wedsite, do you have a business plan? And do you have enough reserve (dollars) in the bank to get you through a month or two if your business starts slowly?

[david_schilling___chicago_]

You might want to see the recent thread about transitioning to full time. A business plan is important as Gerald mentions above. Have you done the math? Have you calculated expenses -vs- income and have you based your pricing on a profit formula? Also would suggest networking with local pros and joining PPA and/or WPPI.

[jzq]

I'm not quitting my day job, so it's okay if the business takes off slowly (unless their are insane business costs that I'm unaware of right now). I do not have a business plan, but I know that SCORE counselors will advise me on that, and there's even a workshop through them that I can go to.

 

Anything else?

[david_schilling___chicago_]

"Anything else?"

 

Visit the business forum and start reading: http://www.photo.net/business-photography-forum/

[William Michael]

I strongly advise that you do not release your website UNTIL you have a reasonably solid business plan covering the next 24 months.

 

My comments on SCORE (and other matters) are here:

 

http://www.photo.net/wedding-photography-forum/00PqiQ

 

Your view that: `I'm not quitting my day job, so it's okay if the business takes off slowly (unless their are insane business costs that I'm unaware of right now).` is IMO flawed.

 

The first major flaw in it appears, from what has been disclosed, is whilst you are considering the fiscal elements, you have not delineated the costs of and, more importantly the amount of time which needs to be allocated.

 

This must be itemized as part of the business plan.

 

The second major flaw is that it is NOT OK if the business takes off slowly, because if we have 30 hours a week being put in over the next 24 months and there has been satisfaction and even less remuneration, then it is my opinion that there are very few of us who would say that they would be happy with that outcome.

 

That is another reason why a business plan is most necessary to give guideposts and a timeline: before initiating anything.

 

Some of my comments in that regard are here: (which is the thread David mentioned):

 

http://www.photo.net/wedding-photography-forum/00Q5QW

 

WW

[William Michael]

opps:

 

 

`if we have 30 hours a week being put in over the next 24 months and there has been satisfaction and even less remuneration`

 

should read:

 

if we have 30 hours a week being put in over the next 24 months and there has been LITTLE satisfaction and even less remuneration

 

 

 

 

WW