Monday, November 16, 2009

Plans - hopeful plans for the future...

I have a plan forming in my head, this plan will take hard work, dedication, time, talent. These are things I have in spades! (well maybe not talent in spades but I have some!)

A website client who is a fabulous entrepreneur and someone I've known and admired for years gave me a wake-up call last week as I was creating another e-commerce site for him. He wondered why if I knew how to create this websites I didn't create a few for me and get myself into the arena. I have to admit I had tossed the idea around BUT what to sell? and to who?

He sells a wide variety of items BUT mainly things related to presentations and printing - binders, binding supplies, custom printed folders, tabs, binders, etc. He has relationships with suppliers and gets great rates - he offered to sell any of his products to me at a tiny mark-up that would still give me plenty of room to make a decent profit. Everything is drop shipped so my only investment would be time and the cost of a website to feature these products, oh and a merchant account to accept credit cards.

So this week (as soon as I launch said client's newest website) I am going to be spending a lot of time at and researching how to register as a woman owned company, how to set up an LLC in NY, how to get a federal EIN number and a NYS sales tax ID, and the costs involved in all of these things. I'm checking out how to bid on government projects as a minority owned company, looking into procurement websites for major corporations, considering hiring an accountant to keep the books for me, looking at what I would need to do to get a grant to get all this started.

Yep - I am formulating plans - plans to never work for someone else again, plans to provide an income, and freedom in my schedule, plans for something so I can feel passionate about my work again.

Plans are good!


sunshine said...

Wow! Good for you Tricia! I'm so excited for you. :D
I can't wait to see how this all plays out. It sounds amazing.
All the best. I'll be sending good vibes your way.


Queen-Size funny bone said...

congrats I can tell your pumped. good luck

Anonymous said...

I linked over from Krystyn. Good luck with your plan. A piece of free advice (I am an attorney and formulate LLC's) - if you are a single member LLC and won't have employees, you can choose to not get an EIN and just report the income/credits/deductions on a Schedule C to your personal tax return.

Tricia said...

Thank you Amy for the tip. I have been doing web design for years as a sole proprietorship and have done my taxes that way. Good to know I can keep doing it that way as an LLC.