While living in Washington, D.C., I launched a hobby business at the end of August 2014 on Etsy.com, an e-commerce site focused on handmade and vintage goods.
I realized that my little hobby business made me really happy—and the prospect of growing it into something bigger was really exciting. I formed an LLC in October and, by December, I decided to take the leap and build a full-fledged website which went live Friday, March 6, 2015.
Since beginning this journey last August, I have learned quite a few things…
1. Time spent doing “Business Stuff” > Time spent doing “Fun Stuff”
When I initially envisioned myself owning a business, I saw myself spending the majority of my time designing and producing my product—the “fun stuff.”
I laugh now (but happily).
In reality, most of my time is spent “running” the business.
Besides actually creating my product, I also handle all the financial and legal matters, the management of the website and social media accounts, the creation of some promotional graphics, taking photographs of the products, physically packing and shipping items sold… The list is long enough to fill up a 5-day workweek…and then some.
(I’m sure you small business owners out there are nodding like bobble heads right now.)
This is the reality of “small business”–but I like it!
2. Read up on State and Local Sales Tax, as well as Use Tax
Longer explanation not needed—just do it and make sure you collect the right amount.
3. You will spend a lot of time doing little things that nobody sees
Business is a lot like building a house. Although people won’t actually see things like framing or subfloor, you have to spend the money and time to install them–otherwise your house won’t be a well-built house!
Before the “OPEN” sign makes its debut, a lot of time is spent framing the business and completing integral tasks that customers don’t see. For example, setting up accounting software to manage sales, opening bank accounts, weighing products for shipping, etc…
Due to the nature of Wisconsin and its zip codes, I had the pleasure of manually entering 800+ zip codes into BOTH of our e-commerce platforms. It was horrific, but taking the time to enter state sales tax rates correctly was better than the alternative: being penalized by the state or paying the tax myself.
If you take the time to frame your business appropriately, business will run more smoothly once you open–and you won’t have to worry if you cut corners.
4. Even if you are small and just starting out, think about long-term growth
I purchased an accounting software and promptly outgrew it within a few months. Initially, the software was purchased because it integrated with my Etsy.com page. However, once I purchased my own website, I found they didn’t work well together.
If I had been thinking about long-term company goals versus immediate needs, I would have initially bought something that worked with more e-commerce platforms and websites. It wasn’t a huge hitch in the plan to switch accounting software, but it did eat up valuable time and a little bit of money.
5. Assign proper value to your work
When I first started out on Etsy.com, my prices were low. I was more focused on offering products at a price-point I thought conservative shoppers (or my friends) would feel comfortable paying versus proper MSRP.
I broke even in two days—so it wasn’t a disaster of a lesson to be learned—but I regret undervaluing my time and my work. If I had priced my products more fairly, I would have a) made a little bit more money and b) had more money to reinvest in my business!
Don’t undervalue your time, effort, and creativity.
Please join the discussion on Twitter. The essay above is the fourteenth in volume 2 of the cultural discussions between the writers of PJ Lifestyle and Liberty Island exploring the history of counter-cultures, the future of conservatism and the role of new, emerging counter-cultures in restoring American exceptionalism. Want to contribute? Check out the articles below, reach out, and lets brainstorm: @DaveSwindle
- Frank J. Fleming on February 26, 2015: What Is the Future of Government? Why It Won’t Look Like Star Trek
- Aaron C. Smith on February 26, 2015: What Is the Future of Superheroes? Why They Need To Start Killing Super-Villains
- Mark Ellis on February 26, 2016: What Is the Future of Gen-X Manhood? Adam Carolla Vs Chuck Palahniuk?
- David S. Bernstein on February 26, 2015: What is the Future of Fiction? You’ll Be Shocked Who’s Fighting the New Conservative Counter-Culture
- Aaron C. Smith on March 2, 2015: The House Loses: Why Season 3 of House of Cards Utterly Disappoints
- Michael Walsh on March 2: What the Left Doesn’t Get About Robert A. Heinlein
- Frank J. Fleming on March 3: 8 Frank Rules For How Not to Tweet
- Susan L.M. Goldberg on March 4: 7 Reasons Why Backstrom Is Perfect Counter-Culture Conservative TV
- Frank J. Fleming on March 5: What Is the Future of Religion?
- Aaron C. Smith on March 5: The Future of Religion: Why Judeo-Christian Values Are More Important Than Science
- Spencer Klavan on March 5: Not Religion’s Future: ISIS and the Art of Destruction
- Chris Queen on March 7: 5 Reasons Why Big Hero 6 Belongs Among The Pantheon Of Disney Classics
- Frank J. Fleming on March 11: 6 Frank Tips For Being Funny On the Internet
See the first volume of articles from 2014 and January and February 2015 below:
2014 – Starting the Discussion…
- Sarah Hoyt, March 22 2014: Interview: Adam Bellow Unveils New Media Publishing Platform Liberty Island
- David S. Bernstein, June 20 2014: What Is Liberty Island?
- Adam Bellow at National Review, June 30 2014 kicking off the discussion: Let Your Right Brain Run Free
- Dave Swindle on September 7, 2014: Why Culture Warriors Should Understand the 10 Astounding Eras of Disney Animation’s Evolution
- Dave Swindle on September 9, 2014: The 50 Greatest Counter-Culture Films of All Time, Part I
- Dave Swindle on September 19, 2014: The 50 Greatest Counter-Culture Films of All Time, Part II
- David S. Bernstein on November 19, 2014: 5 Leaders of the New Conservative Counter-Culture
- Liberty Island on November 22nd, 2014: A Unique Team of 33 Creative Writers
- Dave Swindle on November 25, 2014: 7 Reasons Why Thanksgiving Will Be My Last Day on Facebook
- Kathy Shaidle on November 25, 2014: Is America Overdue for a Satanic Revival? (Part One)
- Dave Swindle on December 2, 2014: My Growing List of 65 Read-ALL-Their-Books Authors
- Kathy Shaidle on December 3, 2014: Is America Overdue for a Satanic Revival? (Part Two)
- Mark Elllis on December 9, 2014: Ozzy Osbourne and the Conservative Tent: Is He In?
- Aaron C. Smith on December 22, 2014: The Villains You Choose
January 2015 – Volume I
- Paula Bolyard on January 1, 2015: 7 New Year’s Resolutions for Conservatives
- Susan L.M. Goldberg on January 1, 2015: The Plan to Take Back Feminism in 2015
- Kathy Shaidle on January 4, 2015: Did the 1960s Really Happen? (Part One)
- Andrew Klavan on January 5, 2015: In 2015 The New Counter-Culture Needs to Be Offensive!
- Clay Waters on January 5, 2015: The Decline and Fall of Russell Brand
- Mark Ellis on January 5, 2015: How Conservatives Can Counter the Likable Liberal
- Audie Cockings on January 5, 2015: Entertainers Have Shorter Lifespans
- Aaron C. Smith on January 6, 2015: How Mario Cuomo Honestly Defined Zero-Sum Liberalism
- Stephen McDonald on January 10, 2015: Why the New Counter-Culture Should Make Strength Central to Its Identity
- Stephen McDonald on January 16, 2015: The Metaphorical War
- Kathy Shaidle on January 19, 2015: Did the 1960s Really Happen? (Part Two)
- Frank J. Fleming on January 20, 2015: What if Red Dawn Happened, But It Was Islamic Terrorists Instead of Communists?
- Mark Ellis on January 21, 2015: Adam Carolla: The Quintessential Counterculture Conservative?
- Aaron C. Smith on January 29, 2015: Objection! Why TV’s The Good Wife Isn’t Good Law
- David Solway on February 2, 2015: For a Song To Be Good, Must It Tell The Truth?
- Mark Ellis on February 6, 2015: President Me: Adam Carolla Vs. the Scourge of Narcissism
- David Solway on February 6, 2015: ‘Imagine’ a World Without the Brotherhood
- Kathy Shaidle on February 9, 2015: Was Rod McKuen the Secret Godfather of Punk Rock?
- Aaron C. Smith on February 10, 2015: Kick NBC While It’s Down: Use The Williams Scandal to Set the Terms of the 2016 Debates
- Spencer Klavan on February 12, 2015: How to Apologize for Your Thought Crimes
- Kathy Shaidle on February 16, 2015: David Byrne: Creepy Liberal Hypocrite
- David P. Goldman on February 18, 2015: Understanding This Bloody Truth About the Bible Will Save Your Life
- Lisa De Pasquale on February 20, 2015: Why American Sniper Is a Much Better Love Story Than Fifty Shades of Grey
- Spencer Klavan on February 24, 2015: How Bad Ideology Destroys Good TV: Why Glee Crashed and Burned