The Starter Business

What and How to Start

Most people who decide to learn how to start a business first develop a plan that will produce a product or service that they will either own or represent. Those who have the better chance to be successful are very passionate about that product or service. In other words, they will not quit when they encounter obstacles to the success that they have planned. Many business owners consider their business to be a continuous learning experience, or a journey. Aside from appealing to those who appreciate adventure, that view clearly communicates that no plan can be complete enough to predict every challenge that a business owner will face. Whether planned well or if challenges are only a lucky few and easily managed, all businesses succeed in order to survive. The Federal Tax code recognizes a business to be legitimate if it is profitable for three out of every five years.

Learn by Doing

The Federal Tax code is an excellent and understandable guide to consult when planning a business. Specifically, IRS Publication 17 acquaints business owners of every sort on how to conduct accounting that is acceptable for Federal income tax purposes. It will help you to appreciate some advantages and pitfalls of certain kinds of businesses. Physical products must be created. That requires resources, an assembly line, employees, a physical location, packaging, a market, and a way to ship the product. Depending on the product, specific Federal, State, and Local regulations and licenses may be required. An accountant, a lawyer, an office manager, and other professionals may be necessary. If you produce more product than you sell in a year, you may have to pay a local jurisdiction an inventory tax on top of the cost of producing too much product. This is a lot to take in for a business owner who has never owned a business before.

An Information Product

Most businesses require promotion, the written word, to acquaint customers with their product. Since that is a necessary step in business ownership, why not begin the business with an information product? Especially when the information is in electronic form, there are no raw materials, no assembly line, no physical location, and there is very little need to hire an employee. An e-book can be written, promoted, and sold inexpensively, yet profitably. Plus, it is a repeatable product. Write one, learn from it, and write a better one. Continue to promote and sell all of them, for they are a product line of the writer. You may not see how writing a book or any information product will support your business plan. But, you will learn to write, to promote, and to handle cash flow by practicing with information that is crafted and sold as a product. The written word will support most types of businesses. Your starter business can evolve from an e-document business into something more complex. You can evolve from the owner of a starter business to become the experienced owner of a major business. Try it.

Tony is a fiction writer and independent publisher. He released and published the first book of a three-book drama series: A Voice from New Mill Creek: The Methodists, as an e-book in September, 2012. In April, 2013, he released his first romance novel, Goodnight Paige. In July, 2013, Tony released a guidebook titled How Tony Wrote and Published Two Novels. https://www.facebook.com/tony.grayson.752 andhttp://graysonta84.wordpress.com/

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