We also used to have an Entrepreneur group at DMS where we talked about a lot of these topics - might be fun to start that up again.
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All of this is the kind of discussion I was looking for in the original post, so I appreciate the input. One thing I’d add to the discussion is what one author called the “E-Myth” (the Entrepreneurial Myth). The myth is basically if I can do a certain thing, I can successfully run a business centered around that thing. I was at a small computer company a long time ago that went through training based on the book, but here’s my personal synopsis from all of it: if you try to make a business out of something you love, you may end up running a business and not doing what you love.
For example, the auto mechanic who loves working on cars one day opens up their own garage. Soon they’re hiring, firing, keeping the books, dealing with HR problems, keeping up good relationships with larger and larger vendors and customers, learning to play golf just to stay in the loop with competitors, and so on. They end up miles away from what they loved doing in the first place. Same can happen with anything. It turns out some craftspeople/tradespeople are TERRIBLE at running a business, while others come to like it. Doesn’t matter the subject area – graphic artists, sculptors, musicians, woodworkers, or anyone else. There’s something to be said for staying at the “amateur” level.
Personally though, I’m between jobs and looking for multiple streams of income from things that are more creative and less tied to a desk 5-7 days a week. I can do the office thing, I can do computer stuff, but I’d rather have some variety and have something physical to show for the time I spent during the day, rather than just pushing pixels around on a monitor. No offense to anyone who does office work; I’m just looking for a creative change. I picked up woodworking as a hobby a few months ago and saw the bazillion YouTube videos about how to make money with coasters and cutting boards and chipmunk picnic tables. I just don’t want to dive in blind so I figured there’s wisdom in getting advice from many different perspectives.
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I want to take that class , I need that class, I can’t afford a bookkeeper yet
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Yup. So something like a CNC machine, shop tools (drill press, table saw, etc.) that are used to “make physical changes” to materials that are ultimately sold as a product are exempt from sales tax even though the business is the “end user” of the equipment.
I do think I remember something about hand tools not being exempt but I’m not sure. I know machinery is exempt.
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Although I have not done any craft/art fairs, Zapp appears to be a good resource for those kind of things. ZAPP.
This would be another area for classes as well.