Page 2 of 2 FirstFirst 12
Results 11 to 12 of 12

Thread: Hello from a new entrepeneur in Virginia!

  1. #11
    Member Wearing Out Keyboard Array
    Join Date
    Oct 2016
    Location
    Virginia
    Posts
    99
    Likes (Given)
    4
    Likes (Received)
    7

    Default

    ... !! ...

    That's my brain right now. That's an amazing resource, thank you!
    Sharon, Owner/Operator
    Something Special Pet Supplies

  2. #12
    Member Wearing Out Keyboard Array
    Join Date
    Oct 2016
    Location
    Virginia
    Posts
    99
    Likes (Given)
    4
    Likes (Received)
    7

    Default

    So, winding down my first year in business and winding up my second year. Some fun observations:

    I couldn't restrain a childlike enthusiasm for tiny little accomplishments. My first "real" (aka not to my mom) sale made me feel like throwing a party. Almost every sale made me cheer because they were few and far between but felt like accomplishments anyway.

    In the third quarter, I ran up a quick sales volume report and noted an interesting but very odd pattern. First month:3 orders, second month: 2 orders, third month: 1 order, then no orders, then 3 again, then 2 again, then 1 again, etc. I checked to see if I was doing something (or not doing something) to cause those sudden changes from no orders to 3 the following month and couldn't find anything. Husband speculated that it was just such a small data set that it was pure coincidence. He was proven right as I got 3 orders in October, then 3 again in November, and now 5 orders this month!

    I'm kind of blown away by how easy it was to set up my online shop. Not just the site, but the business license, business plan, getting suppliers, the whole package. I always assumed it would be much harder than it actually was.

    The only part that was challenging to the point of nearly impossible was registering for sales tax in states other than my own. I'd thought to register in states where my drop shippers are as per the laws in those states, but I eventually gave up. It's difficult to correctly identify if you are supposed to collect sales tax for some states (the laws are usually written only for in-state brick and mortar businesses) and in some states they make you jump through an astonishing number of hoops that gives the impression they don't want your business. One state wanted me to register with the state secretary's office, then register to collect/remit sales taxes which then required posting a bond. I. Am. Not. Kidding. They wanted me to post a $25 bond against the possibility that I am negligent in remitting taxes to them over the next two years. Cashier's check ONLY. No credit card, personal check, cash or money order. When my sales volume is high enough to make me visible, then I'll re-address this task. Sheesh! (Maybe by then StreamlinedSalesTax.org will have accomplished something toward... streamlining sales taxes.)

    Back on a happy note, although my sales volume was miniscule, I had an upward trend the net profit line of my P&L! Here's to continuing upward trends in delicious financial charts and graphs!
    Last edited by SumpinSpecial; 12-30-2016 at 07:31 PM.
    Sharon, Owner/Operator
    Something Special Pet Supplies

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •