Well . . . the good news is that the business (which includes both editing/consulting and publishing sides) was profitable for 2008 The bad news is that the profit is tied up in inventory. (Oh, the other bad news is the taxes paid on the profits -- both income tax and social security tax. It adds up.) Oh, well, hopefully I can convert inventory into sales.
This is all a learning experience.
Anyway, all done and I'm in a better for recordkeeping for this year, I think.
Takeaway for lurkers: running a business, even a small one, brings a host of new complications to your life. Selling goods adds more complications. Keep that in mind if considering self-publishing. Publishing books by others adds even more complications (agreements/contracts; royalties; more complicated record-keeping).
That is so true and most of the time no one understands your sacrifice and "growing" situation. Networking with other online business people or attending blog conferences would be a great support. Let me know if you know of any good ones--I'm still looking:)
Posted by: Kelly | March 12, 2009 at 08:23 AM