This is a great question to ask yourself; Especailly in small business it takes a lot of cash to start it up and even more keeping it going. And sometimes you may need to use your personal assets. This is the time to get a financial planner and an Accountant to keep you from having any kind of crises or keep it to a minimum, must have people you can trust.
Sometimes, you may want to use some of your personal asset, this maybe a good idea for a small business owner for tax purposes this works well if your a sole proprietorship owner. However, this means you are responible for making that money back so you can live on and even make more. Makes sure that when you use you computer(s) keep track of the percent of time that you use it for personal use and business use it make help with deductions, this would mean that you would have to keep up with the deprecation and what the item is worth now a few years after you have bought the item the deprecation start when you start your business take half off and then devide that by a certain amount times the % that you use it per day per month.
Keep in mind to get to see anything from this it will take time it takes time too recover from such a lost. But it can be worth it in the long term of your goal. Remember this the fair market value at the time of the conversion, or the cost plus any additions or improvements that maybe needed; minus any kind of deduction casualty losses, up to the time of conversion.
I did get some of this from Business Owner’s Tool Kit online (Biz filings).
Having to decide how much to charge for an item using the fix cost and variable cost, that is one of the hardest part when you have never done it before; I always thought it was about what I had spent on one item like if something is $4.00 a yard plus my time per hr. I was so wrong, you also need to know your competitors pricing to make sure that you are lower or equal too and not so low you will not make a profit. As I’m growing into this business I am find these things out for myself that there truly is much more to learn. When your young you think that you know it all; not so fast pump the breaks. Like branding (P.O.) NOT P.O. Box either but purchase orders until College I didn’t even know what that meant. Not only that you must do your research in the field that your in or going into; that way you will not go in half-cocked.
It is hard to find investors when you’re still trying to find your way in this business and find the right direction that is right for you, it is best to know your goals the direction is not important right away because that can change many times before you get things right don’t try to get there to fast that just may hinder you. I know first hand that thinking things will happen right away but great things takes time to form the propper way.
Well, I am just about ready to show everyone my work and hope everyone will like everything I have too offer to everyone. I am learning that you will learn something new everyday; what they say is true you do learn something new everyday, and I am truly loving it. It helps to watch shows like Undercover boss and Shark Tank: I am not sure where the show that hired people and chose which companies they would like to work for. I guess not many people liked that one, all though I liked all of them. Whatching and listening to what people are doing and what they have done gives you Ideas of what not to do! or do them differently.
We do perfume’s, clothing, cologne and other beauty products. We are striving to be one of the best in the business; but we take pride in working with people with disabilities, by providing clothing that are easier to put on and be comfortable in. We cannot forget about the shoes people that have a disability need shoes that are soft on the inside and out; they also needs to be molded to there foot and this can cost money!!! I am talking $1,000 and that’s no joke when you mold it to the foot you have too use plaster like for a cast on your feet up to your ankles. That way we can wear boots, and clothing that is easy to put on when you are in a wheelchair or have some sort of disability that makes it hard to get into and out of.
Not, only that, but I would like to do an urban style catalog that will be on an app, seeing as that apps are where it’s at people are downloading more than having catalog and books all over their homes. I have talked with some class mates about it and they did like the idea to help them to dress for success to get ideas on what to wear on the job. This way I can have some designer to show the people how they can mix and match their outfits, having the people talking and moving around to show how it will work for you.
I would like to bring back the catalog, but on a Platphome like the iPad, nook and kindles readers. This is one of my goals in the near future.
I am currently working on some crochet craft work which is big in this area, that can work in my favor. too do all of the other work that I want to get into like fashion this can help me make the money for supplies without taking out a loan.
I am trying to find the write name for a start-up fragrance; fashion, everything I came up with seems to be already taking. Such as urban styles I also tried it with a letter z at the end. Need something that will stand out! Any ideas? I need a real good name so please be creative.
Getting a good name is hard work but I think that I have something in mind. Let me know what you all think about this Georgia peach fashion .com, or Urban Stylez Okay I am still working with the name Urban Stylez it looks as if it’s not being used at the moment so I might use it unless I get any better Ideas any suggestions? I have decided to stay with Urban Stylez for the time being.
Now I am considering Wise & Sweet, which is my mother is wise I am Sweet that is our real last. and I don’t want it to sound like a bakery. We all know that a name can make or break a company seeing that gives the customers some ideas as to what you are selling, and the products Quality of them.
I have decided on D.A.T.O (Disabled Americans Taking Over) I thought it would give some strength behind what we are trying to accomplish within our company, and that is we can do what ever we set our minds too; like I said in the first paragraph feel free to add your thoughts and suggestions are much appreciated at anytime. I am considering （D.A.T.O）Disabled Americans Taking Over. I think this is more me than any of the others. So, now you see that the other name has changed for the better it describe who I am and what I believe in which is people with disabilities we can work and we need stylish clothing as well. In my opinion this is another tough decision to make. You want something that describe who you are what your about because you will be stuck with that for the rest of your working life and there after. Branding is everything so treat it as such give it some thought take as long as you need.
I am a student at Kaplan University in Business Administration. I am planning to start a company soon, called D.A.T.O ( Disabled Americans Taking Over) is one name that I am considering. I live in Savannah Ga, It’s a very beautiful place to visit and don’t forget about my boutique. My plan is to start my own company in the next few years if not sooner. In fashion, tailoring and seamstress type of work.
Every since I was a little girl who have always wanted to become a fashion designer, I figured better late than never! I have taken commercial sewing all four years in my high school career; which gave me the desire to start this venture for a long time, it was not home economics, It was commercial sewing which is different. I have started a business plan that is the hardest part when it comes down to getting funds for the venture that lyes ahead of me and my team.
My company would be geared to people with disabilities it is very difficult to find shoes to fit their feet.
I was an Independent Sales Representative for Avon so I do have some sells in
my blood, this is something that my Mother and Sister have done before me. Having some background in sells really does help so much, you can understand what people are asking you about your business.
I would like to start an app that is for shopping like a catalog with Urban Styles but it would be so much more; I am very diverse and love doing many different kind of things but it’s all about fashion that inspired me, This is what I do. If you like any of my product s let me know by E-mailing me @ http://email@example.com; and let me know what you think or would like to have, I will be uploading pictures soon.
It is good to know that you have a skill to fall back on when you cannot land a job that you love, and don’t mind going to work everyday until you retire, in about twenty years. So, it may not be the easiest thing to do right out of College or even before you graduate from school which is what I am doing; you may think it would be easier with the fact that you can use the stipends that you could receive every couple months and it would be easy if not for bills. One word Budget! Yep! the one word that every woman hates to hear and some men as well. However, it is worth it if you really want it bad enough to go get it.. It’s yours to have, be repaired to put you life somewhat on hold for a minute or two you’ll find it being worth in at the end of your long journey. How ever, mine is just beginning this year; yet I have heard this and the people that I heard it from seams to be very happy. I cannot wait! to see what the ends gone to be. Come and take this journey with me if you dare.