The next step, starting a business.

[lulu's]

Happy new year everyone! I hope everyone had a fabulous chrissy and fabulous new year. I am excited to start the new year and make improvements to my store, I am also starting to think it is time to take it to the next level and register my business and start paying tax and all that fun stuff :/ I have started to pick up a lot of new stockists and am selling a lot more lamps now and don't think that I will be classed as a hobbiest for much longer. I have to say I am pretty worried about making my business the real deal and don't have much of an idea where to start. I am very interested to hear if any of you have done this and you went about it and how it is working out. Any advice would be super duper thanks so much guys! Kristen

[kaetoo]

Oh wow! That's exciting!

I don't know anything useful though :confused:

[corinneski]

Yep, it's really scary starting a new business. On yahoo7 under the Sunrise banner there is a section called Kochie's small business help. I think that could be a good place to start. I think if you start by writing down what you are currently doing, what you would like to be doing in x months time could help as well. If nothing else it would give you a place to start.

Good luck with it - don't be put off by the uncertainty of it all. You obviously have a product people want.

[Little Deer Creations]

How exciting Kristen, I'm sure you will do very well in your business. I wish I had your level of success!
A good place to start is the Australian government website: www.business.gov.au (http://www.business.gov.au)
It has heaps of info about registering your business, tips for business plans, advice on starting out etc.
Cheers, Dyani.

[lulu's]

Thankyou so so much ladies I am off to check out both sites that were suggested. I have also got my book keeper coming around next week for my partners tax stuff so I am going to pick brains a bit to and get her advice. Any more advice would be very much appreciated though. I am starting to stress about it as its such a big step going from hobbiest to a real proper business and it is a lot bigger commitment I guess. I just hope it turns out well.. Have any of you guys thought about doing this? Kristen xX

[Little Deer Creations]

I already have. I registered my business name in march last year and got my ABN
It is such a thrill when you get that certificate. I felt like skipping out of that office!

[cherishdesigns]

Cool Kristen. Don't forget about insurance. I have a business registration but I also took out insurance in case someone bought something from me and something "bad" happened (I sell jewellery so I didn't want a little person swallowing something they shouldn't). I know that I'm covered and I can't lose the house if something goes wrong. A bit in the gloom type stuff but I think something important if you want to take things to the next step. Hope that helps and good luck with moving your business forward. It's always a little scary but also very exciting and if you love your product and willing to put in the hours I'm sure it will be worth it! Liz

[Little Deer Creations]

Liz - I agree with you about insurance, but it can be hard to find insurers willing to cover small craft businesses. if you don't mind me asking, who are you insured with? I want to shop around before renewing my policy this year. Are you covered if you ship your jewellery to the US?
Dyani.

[KyliesCollections]

Happy New Year everyone.
That's great news Kristen.
I am also looking into what the next steps may be for "my little hobby"!!
It will be interesting to read any advice that anyone has on this topic.
I am going to have a look at the websites listed above to begin with.
Let us know how you go with the Accountant Kristen.
Kylie.

[Cutiiepie2011]

That's great to hear Kristen! I have always dreamt of this and gt an ABN last year. Nothing really came of it as I was also working full time and found found out I was pregnant! Now that baby number One has arrived, the need for extra income and creative frustration has put me back in the game again :) it is quite scarey venturing out of my comfort zone. Reading about Madeit members are truly inspiring.... Better get back to my brainstrorming now, and get on with my business plan! Xox Van