Small business information request

[gad5264]

I have been tossing around the idea of taking my woodworking hobby public, but would like to explore it some more before taking the plunge.

Can any of you suggest a certain web site, software or book that outlines starting a small business and how to get the maximum benefit from it?

Also I would like opinions on which business card you think is more eye appealing.

[sacherjj]

The first logo looks less "Print Shop"y. Most of the time, the simpler, the better. For example, here is a logo set I put together for a flooring company in New Albany, IN. They get the idea of a floor with a simple and clean logo.

I'm not sure what to recommend as far as small business startup. I have a business for my photography, videography and graphic design. However, I won't have one for my woodworking, even though I will generate money with it. There just isn't any way I will make enough money vs. my non-paying woodworking projects to be able to write off any equipment. However, my profits can be run through IN8 Digital Services. This is the very reason I made my "business" generic enough that I can offer many services through it. Make sure you don't lock down the goals or scope of the business any more than you have to.

[bigsteel15]

Could I suggest that wooden business cards wood (LOL) be a good idea?
I've seen them done, very impressive. MAybe for the second batch costwise.
Also, the existing logos you have there wood (there I go again) imply to me that you do renovation work vs fine woodworking.

[Handy Al]

Grant,

Try SCORE at http://www.score.org/ There's lot's of advice on starting a small business. I went to a seminar near OSU a couple of years ago. They had lawyers and CPA talking about business structures and taxes.

Also, the state has some info at http://ohio.gov/.

I run a handyman business out of Worthington.

Alan

[darrellcraig]

Try Nolo Press, http://www.nolopress.com. Definitely best single publisher I've come across as a small business owner.

[Warren]

From a marketing stand point neither one. Your business card should be simple, containing only the contact information and business name. Keep the card looking elegant and upscale. Select quality stock for the paper The business name seems acceptable, but it doesn't really say what it is you're selling. Is it trim work? Come up with a name that tells the prospective custumer what it is you do; "Grant's Cabinetry," "Remodeling by Grant," "Grant's Furniture Restoration."

You should take the time to write up a simple business model to help you stay focused. There are hundreds of books available. Make sure you get a couple written by people who have had success with a small business. You don't need a bunch of drivel written by people who have never been there and are just pontificating. Talk to a few people who have "been there, done that!"

If you are doing this as a side line to your "real" job you can ease into it and absorb any little mistakes. If you are going to turn to this full time you should, as a rule of thumb, have enough in savings to carry you for six months or so. If you really, really want to do this, and expect to be successful you should be willing to risk the house. Get a second mortgage. What will ensure success in a small business is your full and complete dedication to making it work. If you're married, you better have the full, informed support of all of your immediate family. Your time will no longer be yours, op theirs, and, since you're not going to have any disposable income for a long (at least it seems long), long, time, everybody tightens the belt..

It's not easy and it takes real dedication. But, in the end you'll either be broke, a little smarter and back to square one; or you'll be your own master, making decent monies and rightfully very, very smug and satisfied.

Good luck!

[Deadhead]

Find yourself an accountant.
I've made some minor mistakes with our rental property business because I was trying to figure out how to do the taxes myself by reading the IRS publications. Well, they weren't really mistakes. But there was a better and easier way to do things. For instance, I was following a 3- or 5- year depreciation schedule for some appliances we bought. The accountant later told me I could have just expensed them in the same year they were purchased.
Plus, by hiring him to do my taxes, I bought peace of mind.

[gerti]

Remember fax. If you will be using fax to send drawings etc. your logo should be designed so it still looks good when faxed. But then again fax is a dying technology...

[jhart]

I agree with Warren on the cards you proposed. They really don't tell me what you are doing. Maybe "Fine Woodworking" or something like that, with a picture of a chest of drawers or something like that.

Another suggestion, keep your expenses lean and mean when starting out, and even when it gets going. Put some of the profits away for the rainy day(s), as they will come at some point.

Good luck and best wishes if you deciede to start it.