If you’ve been following along with this blog you realize that we have only just begun to scratch the surface of starting a business. And the decisions keep coming. Here are just a few more that you’ll have to face:
A business name. It can’t be too stupid or have no meaning but it also must mean something to you. It also can’t be already taken, especially in the state in which you will start your business, either as a corporation or as a self-proprietary business. Oh and on that note you need to do a search in your state of choice so that it is yours.
An EIN. That is an Employment Identification Number. This is of course so that you can pay your taxes. Oh yes, those pesky taxes. You should feel happy to do this (I’m not joking). I would rather pay into the system than be a free loader living off the system. (Yes, I have issues with this particular issue!) And the more you pay into the system, the more money it is that you are making. (I like that idea.)
A website. A must in this digital age. I have many times saw something or a business and tried to find them on the internet only to learn that they have no website. (Yes, I live in a rural, small town area. Still they should have a least a website for information or phone numbers.) I am not a website guru, or even an amateur, but as with all things, there are people out there that you can pay to do a good job on the website. And it is good money spent.
Email account. Where ever you have it, it is the way to still communicate. How do people live without email?
Advise. This covers a lot of area. GET ADVISE! You will need tax advise, bookkeepers, lawyers… yes, lawyers. You want to make sure that everything you do is on the up and up and that you limit your liability. Don’t hesitate to ask for help.
Start up capital. This is the tricky one. Sometimes you can do this on a shoe string, depending on how much knowledge you have or friends that you can get to help you. If you don’t have either of these, then you will have to have working capital to pay for these things. Be it a loan, your own savings, family support, or… well, be creative.
Social media sites. Still working on this one and it will be addressed in a later blog. (I’m not a teenager, so it doesn’t come naturally to me. I’m still learning!)
And here is another big one that I will discuss in depth in a later blog. You need product. That means manuscripts. You are a business. You need to sell things. That means you need things, books, to sell. If you do not have a large number of manuscripts, well written manuscripts, then you must find authors to fill that need. As with all publishers, we are always looking for new authors with great stories.
Have I detailed everything needed for your publishing business… no. But I’ll keep adding more as it comes. Stay tuned.