How it’s starting
Let’s start with do I even know what I’m doing?
Not 100%.
But you have to start at some point and some of those points might not be in the correct order and that’s fine. It all starts with knowing what the main goal is and what I have wanted to do for many years was to start my own business. Whether it is something large or small, but if it can support myself then I would consider it a success.
So what steps do you have to take to start your own business?
That’s a great question that I’m probably not the most qualified person to answer. Let’s start with the steps that I took:
Company Name - what will the company be known as that might give people a general idea of what you do. Doesn’t have to be anything insane, mine is pretty simple. Plus once you decide on your company name, make sure that you can get social media accounts made.
Register your business - I can only assume not every state is the same, but here in Texas I had to register my business with the county clerk. Basically letting the county that I live in know that I’m going to be attempting to sell things under my company name.
Register for an Employer Identification Number (EIN) - yup, unfortunately Uncle Sam wants his cut too. So you must register your business with the IRS for tax obligations.
Setting up a business bank account - you’ll need a business checking account to keep your business expenses separate from your personal expenses. Mainly helps you for tax reasons each year and makes it much easier to decipher how much money is going in and out of the business. You will need a copy of the business registration and EIN number for this step.
Buy things - if you need to purchase any equipment, materials, or anything to help facilitate your business, like a website. Now is the time. But don’t go over the deep end and get too far ahead of yourself.
Register for sales tax - if you live in a state that has sales tax, well you have to register with the state comptroller to allow your company to gather sales tax. Then you have to pay those collected sales tax back to the state.
This is how I did things. Doesn’t mean it’s the most efficient way of doing things, but it’s the basics to be able to legally sell items in Texas.
I also don’t know how much of this blogging I will continue to do, but I mainly want to do it to assist others as well as myself for keeping track of things that I’m doing with my business and any thing that I’m working on. I will also write these blogs in how things come to my mind. I’m not a professional writer, nor will I attempt to act like one because I don’t particularly like writing in the first place. Things might be jumbled up, but that’s how my brain works and that’s how I’ll type it.
