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    4 Replies Latest reply on May 16, 2010 1:07 PM by bpfinance

    Already have LLC, but now wish to make a business out of it

    ladysaat Wayfarer
      Hello, First post here.. I realize the title is confusing. I incorporated in 2004, and have since barely worked the business. I have done work over the years yes, but I have a six year old and a four and a half year old. We are an active duty military family. So.. having babies and moving all over while being a single parent, I did not really develop my business at all. I've kept it incorporated as a Nevada LLC the whole time however, as I did wish to eventually be able to turn it into the business that I want. Both children head to school in September, instead of just one. Now I am looking at really working this.

      Currently I do graphic design/web design/photography. I would like to expand this, to include exclusive media offerings. I have been constantly evaluating the field of competition around me, I'm in San Diego CA, to see if anyone is doing something similar to my idea or close to it. So far no. Especially not with what I will be offering and the quality of my work.

      Now that background is out of the way, my questions right now are: Anyone here specialize in marketing? where is best resource I should head towards to learn the best way to expand my clientele in a new area (we are moving soon, but then will not move again)? Anyone here specialize in print media? Book Publishing?
      Also I would like to know if there is a real source out there that I can research and do all the legwork towards getting a grant to help me expand my business (equipment and overhead costs of a marketing campaign in new areas). I know there is no such thing as a free lunch. I am willing to work hard. But I do know that I have alot to offer, I am a minority in more ways than one. Also the amount I'm thinking of is extremely small compared to the amounts of capital I've been seeing in grant requests and investment requests. No more than 20,000.00 total.

      Anyone here successfully grow a home business into something larger without flipping themselves upside down? I am looking for advice anywhere it's available, even if it's not in my field. A successful business owner got there for a reason and I'd like to learn how they did it.

      I think my post veered all over the place and I'm sorry. LOL. I have so many things crammed in my head that I know I need to learn more, ask more, pay attention to... it's hard to be concise and succinct.

      Thanks to anyone taking the time to read this and/or respond! It's greatly appreciated!! Now off to read more articles and posts some more!
        • Re: Already have LLC, but now wish to make a business out of it
          LUCKIEST Guide
          Wish to make a business out of it

          I would be happy to mentor you. You need a business plan.

          And yes there is such a thing as a free lunch. SCORE is FREE

          Life is not about waiting for the storm to pass, It's about learning to dance in the rain.

          LUCKIEST
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          1 of 1 people found this helpful
            • Re: Already have LLC, but now wish to make a business out of it
              ladysaat Wayfarer
              Thank you Luckiest. I originally did a business plan when I incorporated. However it's out of date and pretty much irrelevant. I think I should start over. I don't have any financials though to include in the plan. I've been pretty much dormant and just paying the yearly renewal fee myself. I have no partners and no employees currently. What should I do about that section? Do a projected plan with numbers based on median monetary figures from current competitive pricing?
            • Re: Already have LLC, but now wish to make a business out of it
              Tracker

              ladysaat:

               


              I tried leaving a response earlier, but it didn't go through. I'll keep this one shorter and with hopes it reaches you.

               


              For your questions about steps to starting a new business, I have two sites, the Solopreneur's Guide and Small Biz Break. The links to both sites are below.

               


              The Solopreneur's Guide is dedicated to helping solo entrepreneurs create successful, sustainable businesses. I recently wrote a 10-post series on the sequential steps to starting a small business. Plus, I have a page titled Successful Steps that will guide you, too.

               


              Small Biz Break is dedicated to simplifying small business by clearing up the clutter of options and giving you focus with a number of free templates and forms.

               


              Additionally, I provide consulting services, so if you would like, you can reach out to me directly. My contact info is on my home page at The Solopreneur's Guide.

               


              For your financial questions, I recommend you seek out a community member here that goes by the nickname, "phanio". He provides excellent insight and help.

               


              All the Best,

               


              Doug Dolan

               

              The Solopreneur's Guide (http://thesologuide.com)

               

              Small Biz Break (http://smallbizbreak.com)
              • Re: Already have LLC, but now wish to make a business out of it
                bpfinance Adventurer
                First of all, you need to make sure your LLC is still active. Have you been paying the $800 fee to CA each year (and filing all necessary returns)?

                You also need to make sure all other aspects of your business are taken care of. As Luckiest mentioned, a business plan is vital. You need to make sure you have the finances in the business to keep it running past the break-even point. You also need to make sure that you are complying with all laws in your area, and have the appropriate permits to operate.

                If you need assistance in setting up or managing your business, send me an email and we can discuss exactly what you are looking for.

                Jeremy Barfield
                forumresponse@brienprivatefinance.com

                Chief Forum Response Correspondent
                http://www.BrienPrivateFinance.com