I'm Learning a lot

I have taken two classes through the Small Business Administration, I have been reading books, and doing a ton of online research. I have received a huge amount of information about how to run a business. At my most recent SBA class we learned about business entities, taxes, liability, and small business loans. While this information is very technical it is also extremely important to the viability and success of any business. The general statistics I've heard are that about 85% of businesses fail in the first year, and of those 15% that succeed another 70-80% fail in the next five years. These statistics can be a bit frightening, but with the right training and with a strong business and financial IQ many more businesses would succeed. There is never a shortage of great business ideas and inventions, but it seems like people fail to realize the importance of the "boring" aspects of a business. While I can't admit that accounting and balance sheets are the most exciting, I can say that the idea of learning more intrigues me.

Sunset through the trees.


Working on a trail crew this summer was great fun, I got in good shape, and it helped me lose some unwanted pounds. However the majority of our conversations during the day seemed to turn to bodily functions, or making fun of each other, sometimes it felt like I was 16 or 17 again (only with more friends.) But in the last two weeks I have already learned so much, I have a much better understanding of the direction of my business, as well as more of the nitty-gritty things. For example I thought I was going to be a sole-proprietor, however I am now deciding between an LLC (limited liability company) and becoming a corporation, yes, you can actually be a one-person corporation. The last two weeks have really allowed me to use my brain alot more than I had in previous months, something that has been very beneficial for me, and my brain.

Rusty fence in eastern Colorado while hunting this week.


This coming week I expect will be very helpful. My third SBA class is all about marketing, and I am meeting with my aunt who works in marketing and advertising. I will also be meeting with a local photographer in town, I sent him an e-mail asking if he would be interested in sitting down with me, and he was very excited about the idea. Hopefully I will be able to gain some great insight from someone who has been in the business for 25 years.

By the way check this website out, he owns a photography studio in California, his company photographs 75 weddings a year and this is his rate. Unbeleivable, but something to aspire to.
http://www.storybookweddings.com/pricing3589/coverage.html

I hope everyone is doing well, keep in touch.