Starting a Business (Part 1)
Background Information (i.e. Update)
So I've been thinking about starting a business for a while. I keep having ideas for businesses to start, but don't really have the time or resources to start them. Also, most of the ideas I have do not relate to each other. For example, one idea might be in the entertainment industry, while another is in the technology industry, while another is in the pro audio and video industry. The problem is I don't want to have to make a separate business and all associated tools (email, postal, phone, business cards, website hosting, etc.) for each idea I have, because I have too many ideas. So I thought, "several businesses today have several subsidiaries that each do something different, why can't I do that"? Take Yamaha for example. They have products in Pro Audio, Machinery, Musical Instruments, Consumer Electronics, and maybe more. Sony also has business in Music and Movie Publishing (Sony BMG), Computer Entertainment (SCEI), Electronics, and even Financing. So I decided that I should just start a generic company to allow me to pursue the ideas that I have. This generic company would have subsidiaries for each idea for a business that I have and would allow me to start new business ideas without the hassle of registering a new company and getting the resources for that new company. Everything would be handled by the "parent" company, until the idea has matured enough to be viable in it's own right, at which point I could easily procure resources for it and form it into an individually stable company that I can sell or continue to operate.
So having thought through and decided all of this, I started thinking of the steps I would have to take to make this happen. I decided to record my progress as I go along. So everything that I do to start this company (and hopefully see it to profitability), will be recorded here (almost like a journal). I will add the common label "business" to all posts related to this project for organization sake. Consider this the introduction to a rather lengthy journal or "how to" guide (from experience). Hopefully others will be able to benefit from my experiences. Now, the first step...
Step One: Choosing a name.
Seems simple enough, right? Humm... I don't know.
The name will be what identifies my company to all potential investors, customers, employees, and pretty much the world. It needs to be unique enough to stand out, but generic enough to apply to any project I undertake. It needs to be short enough to be made into an easy website URL (yes, this is a important concern). Maybe it should represent some core values that I believe a generic company should live by. Maybe it should be a funny, cute name, but it should also be taken seriously by investors and other businesses. This step will define how the company is seen at first glance by people who have not heard of the company before. This is not something to be taken lightly. (I will need some time to think about this).
Step Two: Establish a presence.
Once the name is chosen, the company needs a place to live. It cannot live in thin air, it needs some basic ways to be found. Internet, email, and postal mail are key. A phone number would also be nice to get (maybe). So a web address and hosting needs to be setup (GoDaddy seems to be reliable and inexpensive). With the web hosting should come email (maybe Google Apps for small businesses). Postal mail is very important because this will decide which set of business laws (and taxation laws) will apply to the business. In the US, every state has different regulations about business law and taxation. Also, I do not want to be tied down to one location because my ideas may span the globe! I do not want to be restricted. For this reason, I would like to access my postal mail from anywhere (preferably over the internet). I have found only one company that will do this: Earth Class Mail (formally called Remote Control Mail). They will scan your postal mail and deliver it to you as a PDF over email. How cool is that?! The only problem is that they only have one street address (not P.O. Box) to use as your address... and it is in Beaverton, Oregon. This means that I would have to file in Oregon to use this service (maybe...). A phone number (I don't think) is as important right now, but maybe as it grows, it will become more important (maybe VoIP would be cool).
*sigh* wow... ok...
So it looks like I've got some work to do! I'll be back when I get through these first couple steps.
So I've been thinking about starting a business for a while. I keep having ideas for businesses to start, but don't really have the time or resources to start them. Also, most of the ideas I have do not relate to each other. For example, one idea might be in the entertainment industry, while another is in the technology industry, while another is in the pro audio and video industry. The problem is I don't want to have to make a separate business and all associated tools (email, postal, phone, business cards, website hosting, etc.) for each idea I have, because I have too many ideas. So I thought, "several businesses today have several subsidiaries that each do something different, why can't I do that"? Take Yamaha for example. They have products in Pro Audio, Machinery, Musical Instruments, Consumer Electronics, and maybe more. Sony also has business in Music and Movie Publishing (Sony BMG), Computer Entertainment (SCEI), Electronics, and even Financing. So I decided that I should just start a generic company to allow me to pursue the ideas that I have. This generic company would have subsidiaries for each idea for a business that I have and would allow me to start new business ideas without the hassle of registering a new company and getting the resources for that new company. Everything would be handled by the "parent" company, until the idea has matured enough to be viable in it's own right, at which point I could easily procure resources for it and form it into an individually stable company that I can sell or continue to operate.
So having thought through and decided all of this, I started thinking of the steps I would have to take to make this happen. I decided to record my progress as I go along. So everything that I do to start this company (and hopefully see it to profitability), will be recorded here (almost like a journal). I will add the common label "business" to all posts related to this project for organization sake. Consider this the introduction to a rather lengthy journal or "how to" guide (from experience). Hopefully others will be able to benefit from my experiences. Now, the first step...
Step One: Choosing a name.
Seems simple enough, right? Humm... I don't know.
The name will be what identifies my company to all potential investors, customers, employees, and pretty much the world. It needs to be unique enough to stand out, but generic enough to apply to any project I undertake. It needs to be short enough to be made into an easy website URL (yes, this is a important concern). Maybe it should represent some core values that I believe a generic company should live by. Maybe it should be a funny, cute name, but it should also be taken seriously by investors and other businesses. This step will define how the company is seen at first glance by people who have not heard of the company before. This is not something to be taken lightly. (I will need some time to think about this).
Step Two: Establish a presence.
Once the name is chosen, the company needs a place to live. It cannot live in thin air, it needs some basic ways to be found. Internet, email, and postal mail are key. A phone number would also be nice to get (maybe). So a web address and hosting needs to be setup (GoDaddy seems to be reliable and inexpensive). With the web hosting should come email (maybe Google Apps for small businesses). Postal mail is very important because this will decide which set of business laws (and taxation laws) will apply to the business. In the US, every state has different regulations about business law and taxation. Also, I do not want to be tied down to one location because my ideas may span the globe! I do not want to be restricted. For this reason, I would like to access my postal mail from anywhere (preferably over the internet). I have found only one company that will do this: Earth Class Mail (formally called Remote Control Mail). They will scan your postal mail and deliver it to you as a PDF over email. How cool is that?! The only problem is that they only have one street address (not P.O. Box) to use as your address... and it is in Beaverton, Oregon. This means that I would have to file in Oregon to use this service (maybe...). A phone number (I don't think) is as important right now, but maybe as it grows, it will become more important (maybe VoIP would be cool).
*sigh* wow... ok...
So it looks like I've got some work to do! I'll be back when I get through these first couple steps.
posted by Andrew at 11:27 AM
