What next?

ryan brown

ryan brown

lOwEr CaSe Member
Got the gear, got the company name registered as a sole proprietorship, got the people, website will be finished by the end of the week, small business bank account is ready tomorrow, business cards and phone are in... what else do I need to get the company up and running?

How bout tax excempt stuff? employer ID number? (I'll be contracting work out, so technically I'm not an employer)

We'll continue to do mostly weddings untill I can pay off the gear I just bought, and probably go through a "second round" of gear buying and weddings. Then we want to get into cooperate/industrial, and pro commercials. I've got a local rental house on my side, and we can get all lights/gear for next to nothing till we're up and running. Got a LOT of good contacts in the industry down here in Dallas, and plenty of people saying they'll send work our way.

Just figured you guys that already have a running small business could help me out with the things [I'm sure] I've forgotten. Insurance? do I need that while I'm just doing weddings/MV's/small gig's? Any other serious paperwork I need to file?

-brown
 
If you're doing business in your state and it has a sales tax you'll need to apply for a sales tax license. Federal tax id number is always a good thing to have.

Do you have something to do your books?
I just keep folders on my desk that I put in receipts etc then at the end of the month I put them into QuickBooks.

Insurance is always a good thing to have. I carry a policy that not only covers my gear but also personal injury etc. It's only a million dollars so I need to see about jacking it up to two. Sounds like allot but if someone trips over your tripod and goes to the hospital the bills can really wrack up.
 
How about a marketing and advertising plan? You might also want to hook up with a decent accountant (someone at your bank, even) who can guide you through what you need to be doing with money going in and out of the company.
 
Yeah... the tax id #, and the sales tax license. I wrote that down, but then completey forgot. Thanks.

As far as advertising/marketing, I've got a fairly large clientele that insist on coming with me as I venture away from the company I work for now. I really don't feel right taking business from the guy I work for now, as he's helped me out a lot, so I'll probably still do most of his editing work, and tell the clients to go through him. BUT... I've gotten in pretty good with some locals, and my work speaks for itself, so I shouldn't have any trouble staying busy.

Thanks for the tips.

-brown
 
I think all of the points of business 101 have been covered here, but please remember these most important words: Business is Business .
 
Insurance would be the best thing right now, if something happens to your equipment and halts your work you want to be able to get back up and running as fast as possible.
 
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