Starting an Online Business

Many of you know that I have not one, but two online businesses. The first, is my business as a Beachbody coach. The second, which is the one I will focus on today is on Etsy. I decided to start my Etsy business because I love knitting, and I spend a lot of money on yarn and I love giving my knitting away. Unfortunately, this is not profitable. Furthermore, I wanted a reason to create my own patterns and create them well. In a matter of about a week I went from deciding that starting this business was something I could handle to having all of the necessary requirements completed in order to start selling. I had to learn a lot about what to do in order to legally run a business online, and a lot of it wasn’t fun. But some of it was too.

Getting a DBA (Doing Business As)

The most fun part about starting this business was by far determining a business name. I learned that if I wanted to do business in a name other than my own (yes), I needed to have it registered with the state. This surprised me, and I took to Facebook to ask for some suggestions from my friends. The winner made me do a little happy dance. Mind you, I read the results of the poll while I was out for a jog. I loaded the page while I was stopped at a stop light and when I saw it I was already running again, so I am sure I looked absolutely ridiculous. The second best part about picking this name was the banker’s reaction when I opened my business banking account (more on that later). Name: Given Knit My All. Say it out loud of you don’t get it. If you still don’t appreciate the awesomeness, take a look at my last name. Mind blown. Thank you again, I can never repay you for making such an awesome suggestion.

Opening a business bank account

This was a suggestion that I read in a book and I knew I was going to do it before getting even halfway through the chapter. Before opening this account, I had three checking accounts at three banks. One of those is untaxed income, the other two split the rest of my income. Taxes are difficult with everything separated. The thought of adding business cash flow on top of that was not something that sounded even remotely like a good idea to me, therefore I opened another account. But wait! Doesn’t she already have a business with Beachbody? Yes. However, year-end reporting with Beachbody is easy peasy lemon squeezey. Etsy not so much. This is already proving to be beneficial, and I haven’t even really begun to use it.

Listings and promotions

As of now, I do not have any listings on my page. I already know what my first listing will be, I just need to complete it first. I also have seen a lot of discussion on the Etsy boards as well as in other locations regarding promoting your site on social media. I made a business page on Facebook, but it is currently private and I am not sure whether or not I will use it. I feel like I learned a lot about networking and promoting my business from being part of Team Beachbody, and I make every effort to continue to learn as I move through life.

Bottom line

This business is about having fun doing something that I love. I never want it to become a chore, or something that I cannot keep up with. At the same time, I want to make money because I feel like I have the skills that will help me make money. It would just be disappointing to see items go unsold. I have specific goals for this business, but they’re personal and I really don’t know if they are realistic because I am just starting out. However, I feel confident in myself and what I desire such that I will be able to succeed with this.

Dialogue

If you have any suggestions for me, want to check out my shop, or connect with me on social media, please do not hesitate to contact me. Let me know how you found me if you do wish to connect.

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