Wednesday, January 25, 2012

Updates & Hiccups



This is currently what's in our store window. Charming? Yep. After about 10 seconds, it transitions into another ad that says "Advertise here for $49.99 a month, call ... for details." If I can get 9 local businesses to advertise in my window, that pays for my rent there. Not to mention, it's great for them. With us located on the square, there's easily a lot of views to that window.

Onward to other things though...

Let me tell you why it's important to make sure you have a separate bank account for your business. Because when you budget for a set amount of money, you don't budget for the things that automatically get withdrawn out of your personal funds. Fortunately, we're still in an early enough stage, it's not too bad. Still, you know, I've got x amount of dollars in my bank account and in my head, I'm thinking "Okay, this much money goes towards the business." Next thing I know $7.99 from GoDaddy is getting withdrawn from my bank account that I forgot about and forgot to budget for, for a completely unrelated project. Luckily, I'm the only person who has put money into the store so far. My counterparts have contributed with inventory. Still, what if they had given me money and then some crazy bill I forgot about had withdrawn out of my bank account and subtracted from ALL of our money. We can't have that.

So tomorrow. We're setting a bank account up completely separate. New Paypal accounts, new eBay accounts, etc. I know this was probably some sort of common sense thing but it's mostly been me doing most of the finances, and my partner is just now able to free up some time where he's going to be a little more active in our decision making.

Which raises another issue - a lot of people keep saying "If you can avoid having a partner, avoid having a partner." I probably could have avoided having a partner. My friend Tyler is stepping into this role as a co-owner. I'm taking all the risks, but I asked him to be co-owner. Why? Because a. Tyler is better with finances and can manage them better than me. b. Tyler has a great vision and we can share both of ours. Second opinions are great. c. Tyler isn't quite in the financial position to contribute why I currently am, (he's got a wife and 3 kids. I've got... well, a cell phone bill.) Long story short, Tyler despite what many might say, is a necessity to this business. He brings a lot of strengths and diversity. So does my friend Gil who is not a co-owner, but I would call him the equivalent of a manager. With him being point guard on the studio and also providing the comic side of things, we wouldn't be able to do this nearly as well without him.

So anyway.
That's right.
Studio.

Currently, we have converted the downstairs to the makings of a studio.

Here are some wonderful pictures.



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