I want to talk about, as well as demonstrate what to do when you are at your wits-end? Cannot find employment, have no money or automobile, but you do have a roof over your head and a talent. Well! I am going to embark upon a journey to get those answers, and you are invited. I am going to show you some ways to make things happen, in spite of it all. If this is your last resort, then you will unequivocally have to be resourceful. Tap into your innate since of creativity and create yourself a product, or have you a hobby that has lend itself to boxes on a shelf or the back floor of your closet; then you are sitting on a goldmine. Do you have too much of anything, or not enough of something that you really like? “Turn it into a dollar”. The fact is…I am that person, so mark your calendars as I will begin my journey, and take you along with me to see what we can do to turn a negative into a positive with a little creativity.
“First-thing’s, first”. I don’t believe in last resorts. I believe in the term coined by Curtis Jackson, AKA 50 Cent; “Get rich or die trying, so…Here’s to trying!
Paint and Markers, and Scissors…oh my
- Today is Wednesday, September 16th, about 4 days since I begin the previous paragraph, and I am ready to go. I don’t know about you, but I see thousands of dollars on this table. One snip, one stroke and one press at a time, and now is a better time than any to get the show on the road toward a rewarding career, and/or entrepreneurship. Do you have any of these things in your home? If not look around. You’d be surprised what you can do with a marker, an old floor mat, paper-plate, or a pillow-case. For instance! A pair of matching sox can be turned into a beautiful set of twin dolls. Let’s see how much revenue that can be generated from this table.
Below are a couple of the items that I created this week using at least 3 of the items from the table above-scissors, tile, glue, and the green mats. (although these mats are green, I had a pretty, blue one just like it). Let’s talk resourcefulness. The green, and blue mats were once my yoga mats. I cut it into squares, and …Voila! A base for my clocks. I actually had four packs of photo cards that have set in my craft chess for at least ten years, but then, “as technology will have it”, we all stopped printing photos, and so they sat. I created my bookmarks from those cards. Below is only a few of the many bookmarks that I have created. This is not the finished product, as the bookmarks are adorned with a colorful ribbon to mark the spot, and that would be appealing to all ages. The “Whatever” Clock, the Religious clock and the child praying were made from floor tiles “go figure”. I have done my research, and will do competitive pricing.
CROSSING THE t’s, and DOTTING THE i’s
I spent this week making more clocks and perfecting my bookmarks. What more can you to a bookmark you ask? The fact is, I become totally galvanized when creating things that possess vivid color to the extent that I tend to spend more time on that particular project in an effort to perfect it-adding and blending color, so I added colorful ribbon to most of the bookmarks; especially the ones for children, and I made 350 bookmarks so it took a little time adding the right color ribbon that matches a particular bookmark. I also created several new designs for my clocks to display on the upcoming website.
There will be displays of artwork in week 5 that will not be displayed on the website “Coming Soon” rather to give you an idea of what it is that I do to keep to keep my creative-juices flowing. Week 5 should be awesome and I hope you will be here. Please feel free to add a comment in the comment section of this post. I am going to continue tweaking my “products”, as I expect to present you with a quality product in the very, near future. After I have created surplus of items for the site, I will begin uploading them to the site.
Deborah Thompson, 9/28/2015
SO YOU WANT TO START A BUSINESS
Now that you have realized your potential, and have gotten a definitive answer that you can start a business, and you can start with what you currently have, and build from there. You can turn your hobbies into legitimate, profit making products, but you will need to create a surplus of the items that you intend to sell, and consider buying other items to be placed in your store if, you plan on selling more than one item. You may want to consider a small business loan, but in the meantime; one of the first things you should do is find out if there is even a market for your product or service. Who is the target-market? That does not mean “who you want to sell your product to”, rather who is statistically proven to purchase your specific type of product or service, and what is the demographic.
Let’s assume that you have researched the market for gift items, created a surplus, and are ready to start selling your product, or service. “Not so fast”. Hold the excitement, as there is still things that you should do before proceeding. You should log onto http://www.sba.gov. Read and obtain as much information about starting a business, types of business entities (Sole Proprietorship, LLC, Corporation, etc.), and their tax laws for businesses because whether or not you obtain this information will be essential in the success or failure of your business. I will be providing tips and hints about what to do to get your business off the ground in my upcoming post.
IN THE MEANTIME AND IN BETWEEN TIME
Look around you; explore the room for potential profit. Be resourceful! Those oranges in your fruit bowl are dried out and awaiting to be thrown out, right? Wrong! Cut that orange in half, clean it thoroughly, then fill it with cement. Cut a small piece of cardboard into a moon shape and paint it a color of your choice, then place it onto the bottom rim of the half orange to give the appearance of a baseball cap; place a small button on top that matches the bib of the cap and shellac the whole thing… Voila! A paper-weight. Something quick and easy to mass produce. You can also and, probably should create a derivative of an existing item. Create the same thing with a grapefruit. Although it’s still a paperweight; give it a different name and number. They need choices!
Deborah Thompson/Memanera ® 2015
PROTECT YOUR BUSINESS-PROTECT YOURSELF
Take the time to familiarize yourself with the following types of business structures. If you have done your research, and feel you are ready to start your business, then you may want to look over the following business structures. You will have to select one of the following entities when applying for your business license. Maintain an auspicious attitude. Keep your creative juices flowing while doing your research, and please follow my post as together we sojourn to what will soon be…”The Grand Opening”.
An individual or married couple in business alone. Proprietorships are the most common for a business structure. This type of business is simple to form and operate with flexibility and management. It has fewer legal controls and fewer taxes, however; the business owner is personally responsible for all debts incurred by the company.
In general, two or more people sharing the profit, losses, and management of the business, and who agrees to contribute money and skills, or labor to the business, but their losses and are equally liable for the debt of the business. The terms of the partnership are usually contained in a written agreement.
LP is composed of one or more general partners, and one or more limited partners. The general partners manage the business, and share fully in its profits and losses. Limited partners share in the profits of the business, but their losses are limited to their the extent of their investment. Limited partners are usually not involved in the day-to-day operations of the business, and filing with the Washington Secretary of State is required.
Limited Liability Partnership (LLC):
LLP is similar to a General Partnership except the partnership doesn’t have personal liability for the negligence of another partner. The structure is usually used by professionals like Accountants, and Lawyers. Filing with the Washington Secretary of State is required.
A corporation is a more complex structure that has certain rights, privileges and liabilities beyond those of an individual. Doing business as a corporation may yield tax and financial benefits, but can be offset by other considerations such as increase licensing fees, and decreased personal control. Corporations may be formed for profit and non-profit purposes. Filing with the Washington Secretary of State is required.
None Profit Corporation:
A None Profit Corporation is typically run to further an idea rather than the interest of profit. Many non-profits serve the public interest, but some engage in private sector activities. If the non-profit is, or plans to raise funds for the public, it may also be required to register with the Charities Program of the Washington Secretary of State.
Limited Liability Limited Partnership (LLLP):
The Limited Liability-Limited Partnership is a limited partnership that chooses to become an LLLP by including a statement to the affect in its certificates of limited partnership. This type of structure may shield general partners from liability of obligation of the LLLP. Filing with the Washington Secretary of State is required.
Limited Liability Company:
A Limited Liability Company is formed by one or more individuals or entities through a special written agreement. The agreement details the organization of the LLC, including provisions for management, assignability of interest, and distribution of profit and losses. The LLC is permitted to engage in any lawful for profit business activity other than banking and insurance. Filing with the Washington Secretary of State is required.
Tenants In Common:
It allows two or more people to occupy the same business while retaining separate entities in regard to assist, or liabilities resulting from business activities.will
I included this information first because you will need it to determine the type of business structure you plan on operating.
citing: © 2011 Washington State Department of Revenue and its Licensors. All rights reserved.
Retrieved from http://bls.dor.way.gov/ownershipstructures.aspx
by Deborah Thompson/Memanera ® 2015