starting my basement business®
Originally launched in 2022, this program from Jennie and Davis was designed to help Makers thinking about starting a business sell their first $10,000 of product!
Welcome!
Course goals:
The workbook
<-- click the icon to download the workbook!
part 1
setting goals
set a big smart goal
example goal
workbook exercise:
1. Pick a BIG smart goal using the workbook
PS: don't worry about how to achieve your goal, just think about what you want from your business.
the goal of goals...
part 2
selecting a product to sell
pick a type of product first
what does the market want?
workbook exercise:
1. select a type of product to sell
part 3
building a business identity
name your business
stuck picking a name? try this!
Building a portfolio
part 3
price your work
pricing principles
The Ultimate Pricing formula
pricing example #1 - full tutorial
pricing with an hourly rate
pricing backwards (market rate)
More pricing Examples!
davis messed this up BAD at first
part 5
make your first sale without even trying!
what to do:
It's time to transform
what if they say no?
part 6
make sales automatic
Rinse & repeat what works
how to grow your business
learn how to build business 'funnels'
optimize the customer experience
You're a legit business owner now!
part 7
bonus: 3 traps to avoid
Trap #1
Trap #2
Trap #3
part 8
bonus: advanced questions & techniques
Should I use a contract?
can i sell to other businesses?
should i file an llc?
what do i do with the money i'm making?
taxes made easy!!!
Taxes should NOT be a DIY activity. If you're making more than $10k a year in your business, it's our opinion that your taxes should be accomplished by a CPA or a tax firm. Both for accuracy, and because it's a waste of your time to learn the complex tax code!
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A tax professional will probably save you much more in taxes than they charge for their services!
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If you follow our advice and keep you business money separate, taxes will be very easy for you and your accountant. They shouldn't charge more than $500 to do your personal taxes and your business taxes if you've kept track of revenue and purchases (bank statements are the easiest free way to do that).
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Feel free to call any local firm and say the following:
"I have a small business that sold around [insert yearly revenue] dollars this year. I would like to hire you for tax preparation services for my household and a Schedule C for my business. How much would you charge for that?"
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where can i find a business mentor?