From messing around to business in less than a week

[karkess 28]

Ok so I received my cutter 7 days ago and started cutting miscellaneous things for myself and family.  One thing I cut was a window decal for my sister which is actually for my nephew, because he's big into theater and she showed some people at the theater, and now I'm putting together a fund raiser for them and cutting probably a couple hundred decals. 

And my wife is booking me for co-workers, and I ran into a guy who liked the stuff I have on my car and now I'll be cutting for him this weekend.  I can't believe how this is exploding in a couple days.  It's a bit scary and exciting!  I'm sure I will be asking a ton of questions after I get things sorted, so all you experienced people, please keep an eye open.

 

Thanks

[BannerJohn 1,324]

That's the way it is....same thing happened to me

[xpaperman 719]

Happened to me too but not quite as quick..... which was fine with me as I wanted plenty of "learning" time under my belt before I 'got busy'.    Being in a small town I didn't want to have a bad job early being a new start up.  Some times that bad feedback from the start can take awhile to overcome.  GOOD LUCK!!  

[jaybyrd 3,770]

Funny how 1 decal can set the gears in motion.

[SeeJaysPlace 476]

Amen.. Ride the Ride .. and hope it does not stop

[slice&dice 2,450]

Congratulations, and keep your income ledger in good order.

 

[xpaperman 719]

We are supposed to have one of those?  I didn't see it in the box with my bundle from US Cutter....hmmm

[karkess 28]

^^^ I didn't get one either.  I'm probably going to go the quickbooks route.

[JessXEmoji 46]

Awesome! I needed to hear good news after seeing decals selling for 74 cents on Amazon.

Now i feel there is hope.

[jaybyrd 3,770]

I use quickbooks and it's great for tracking where your money is going. Funny thing is cash transactions don't alwas show up in the program. Slice, ledgers are why Al Capone went to prison.

[mabscotthandyman 1,410]

We are supposed to have one of those?  I didn't see it in the box with my bundle from US Cutter....hmmm

When i was a young fella i worked at a gas station pumping gas ( they really did pump your gas back then they would even check air pressure, oil levels and your coolant levels all part of the service ) any way the old guy that ran the station did not have a cash register...one day someone asked him how he kept track of if he was making money or not by lust keeping the cash in his pocket .....he replied i count my money every morning before i open then i count it after i close if i have more i made money that always seemed like a good accounting method to me.

[arty-rc 719]

When i was a young fella i worked at a gas station pumping gas ( they really did pump your gas back then they would even check air pressure, oil levels and your coolant levels all part of the service ) any way the old guy that ran the station did not have a cash register...one day someone asked him how he kept track of if he was making money or not by lust keeping the cash in his pocket .....he replied i count my money every morning before i open then i count it after i close if i have more i made money that always seemed like a good accounting method to me.

Didn't you love those customers that would say: One dollar gas and check everything? Been there and done that!

[SeeJaysPlace 476]

I need to get a better method of keeping track of $$ LoL..

a Zip Lock Bag of Receipts.. and a walmart  Receipts book LoL

 

I do have quicken when i remember to put stuff in there LOL

[jaybyrd 3,770]

I throw all my receipts in a drawer and when the stack gets about yeah high I pull them out and enter them into quickbooks. Money in isn't a problem cause I print receipts through WB as well so that goes in automatically.

[xpaperman 719]

I use and app called invoices2go.  It allows me to use it on my computer (through chrome) on my phone and tablet!  I was looking for some kind of app for when I am on the go and someone wants to place an order.  Instead of scribbling info on a napkin or scrap paper I wanted to be able to enter it in my phone or tablet so I would not lose it.  Came across this little powerful app and love it.  I can take orders on the fly now.  Plus, I can enter expenses etc.  It also has reports: Profit/loss, sales by year, quarter, month, customer etc.  I love it!  Plus, if I enter something in the field on the phone, it auto syncs with tablet and computer!

[jaybyrd 3,770]

That sounds like a good program. If I was starting out and didn't already have a program in place I'd definitely check that out.

[Monkey 252]

I started same way kind of. Bought my cutter for doing paint masks for air brushing and soon as friends found out, orders started coming in and now doing commercial work as well.

 

 

Wife made me a really good spreadsheet that allows me to keep track of inventory, cost, price and profit. I do a new one every month

[karkess 28]

It appears there's many ways to keep track of things.  I love the idea of an app on my phone, as long as I can print reports. 

 

OK!  First question...Should I form my LLC now or wait a bit?  I want to open a separate bank account for this, but am not sure how the whole thing will port over to a business if I wait.

[jaybyrd 3,770]

I'm in the minority and don't have and LLC but wish I had in the beginning because of the ability to use the company for a line of credit instead of tying up my personal credit.

[xpaperman 719]

You can ( as I did) just go to the bank and open a separate checking account just for this.  Just in your name.  No special paperwork needed.  Also the minimum balance needed to avoid the service charge is lower. This way you can keep your money separate, get a debit card for online ordering etc.  Then, once your ready, you can just go to the bank and change it over to a business or DBA account with out any trouble.

[karkess 28]

I will probably use a personal account to start, but like the idea of starting to build credit in the business name.

[SeeJaysPlace 476]

It appears there's many ways to keep track of things.  I love the idea of an app on my phone, as long as I can print reports. 

 

OK!  First question...Should I form my LLC now or wait a bit?  I want to open a separate bank account for this, but am not sure how the whole thing will port over to a business if I wait.

I had my LLC before i even got my cutter in the mail.. i made it all legal didn't cost that much and it was easy!

 

I use and app called invoices2go.  It allows me to use it on my computer (through chrome) on my phone and tablet!  I was looking for some kind of app for when I am on the go and someone wants to place an order.  Instead of scribbling info on a napkin or scrap paper I wanted to be able to enter it in my phone or tablet so I would not lose it.  Came across this little powerful app and love it.  I can take orders on the fly now.  Plus, I can enter expenses etc.  It also has reports: Profit/loss, sales by year, quarter, month, customer etc.  I love it!  Plus, if I enter something in the field on the phone, it auto syncs with tablet and computer!

I should look into this.. I'm looking at upgrading my phone to the Note 3..  I have a iphone right now and my busniss partner has a Galexy 4 how ever you spell that..

and i have access to my daughters ipad when i need it lol .. 

 

So i'm going to look into this program and maybe start fresh with it in the new year..

I use Quicken right now but i kinda hate it ..  So thanks for the app name i'm going to look into it

[karkess 28]

^^^ Check the HTC One, I love mine.

[jaybyrd 3,770]

Remember you don't have to have a LLC to be a legal business. There are benefits to LLC including corporate credit and limited liability but you do not have to take that route if you don't want.

[karkess 28]

^{Fortunately my sister is an accountant and can set it all up for me, for just the $25 filing fee.}