We are 6 days in to 2014 and I am very excited for everything that is on our agenda this year. One thing I want to do for the creative women small business owners is to establish focus on the basics for the next couple of weeks. Many times, we skip the basics and just go full steam ahead only to meet road blocks, obstacles and more. We don’t know how to tackle the simple “mundane” things because we did not take the time to learn them. ICB is here to the rescue.
I am going on a mental break of sorts. As a business owner, sometimes we need to completely step back from the situation and access it. Daily, I meet with people who feel entitled to my time, knowledge and whatever else they can squeeze out of me. I share a multitude of information because I really want other people to succeed, but when people push me past the point of appropriateness, I feel like I don’t want to help at all.
So, I have decided to take a break sorts from the advice I share on social media. I need to create better boundaries that allow me to share advice and feel great about myself. This leads me back to the very important idea that I need to create more content for the site.
A couple of days ago, I shared my humbling experience with you. Today, I am sharing my month with you. November 2013 will be a month to remember years from now. It was that beautiful, crazy, exciting month filled with so much.
With our big announcement coming up, I am excited and nervous at this very moment of what I am about to do with my life. However, Paulo Coehlo said ” If you’re brave enough to say goodbye, life will reward you with a new hello.” This is something that has been in the works since the earlier part of the year. Now, it’s actually taking place and my mind is racing. I am happier than ever, so I am now taking the right steps in the right direction to achieve my goals.
We finally made Youtube videos. I have been planning to make videos for a while now, and–like every month–they were on my to do list. I wasn’t focused on making them to be honest, nor did I know what I was going to talk about with them. Since plotting the transition that Imperfect Concepts will start to take soon, I decided now would be the perfect time to start.
1. What is the difference between a sole proprietor and LLC?
A sole proprietor in the eyes of the law makes a person a business. Any name you give the business is considered as you doing business as that name. In the distant past the benefit of sole proprietorship over other forms is that business profit is taxed as your personal income; whereas, with a corporation, it is taxed as the corporation’s income and then pays out to you as the owner, who is then taxed again. Sole proprietorships also do not require any paperwork. You just start doing business, though you do need to file for an assumed name certificate if you are using another name than your own and will have to deal with appropriate sales tax issues, etc. The major downside to a sole proprietorship is unlimited personal liability. If your business has a contract dispute or a tort claim against it, you are liable and your personal assets are reachable. When you have co-owners or business partners in a sole proprietorship, it becomes a partnership instead, which is an identical form, but more complicated and sometimes more regulated due to the additional owners.
I know it’s pretty unbelievable, but I’m on vacation right now! Being the busy bee that I am, our blog posts have already been scheduled out so I wont skip a beat! I’m a small business owner, so that means I am pretty darn good at scheduling my life so that everything runs smoothly.
However, I am not that great at actually treating myself. Sometimes, I even treat others before myself. Now that I’m working with a life coach again, making more time for me is something that we are working on.
You might be wondering why I write about business instead of fashion. Simply put, writers should talk about what you are passionate about. Yes, I enjoy fashion, shopping and vintage just as much as the next person, but it isn’t something I constantly think about. Even as a niche business owner, I’m not passionate about writing about vintage fashion. There are so many bloggers that write about vintage, and as much as I adore vintage, I would rather fill the gaps.
Loosening the reigns on your business is extremely difficult. When you’re a company owner, it’s easy to micro-manage everything and think that there is no way that you will find someone who can do your tasks for you. It’s hard enough finding an intern you can trust, not to mention having to collaborate and work with them on projects and building a relationship with them. When it comes time to ask for help, it is challenging to view anyone as someone you can lean on. However, there is a way to let go of your business, and there is a way to get rid of the nerves that come with letting go.
I live in Texas where fall arrives around December, but like almost every woman on earth, I have a fall must-have list. My list doesn’t trail off on some drastic Neiman Marcus excursion–even though that would be really fun—it’s a mix of high and low priced items because that’s how I like to shop. All my friends know I LIVE for Target.
Do you suggest I trademark my company name? Also, is trademarking something I can do or do I need to hire a lawyer?
Filing for a trademark is a relatively inexpensive process. If your company name or a product name is unique it is something you may want to do. From the viewpoint of an attorney, risk-averse and looking to maximize protections, a safeguard like a trademark always sounds like a great idea if you have the budget for it. The process can take some time, in some cases a year or more, and requires the “mark” your company name or logo being published in a federal publication with a period of time for anyone to oppose the mark before it finally becomes yours. There are certain requirements, such as using the mark in the “stream of commerce”—basically being an active business within a certain time of applying for the mark. There is a lot of information on the U.S. Patent and Trademark Office’s (USPTO) website (www.uspto.gov) and you can even apply online. Some states also allow you to register a trademark within the state as well.
If you know me, you know I love a good book. I am a library card-carrying girl. As of lately, I have been on the hunt for some good reads, but I am very picky about the books I select. I know the feeling of those really good books you get sucked into, and sometimes, I can finish them in a day if I’m not careful. Then there are other books that take me forever to finish. I have to be very careful when devoting my time to a book.