Forming an LLC

This week for our web based business class, we had to do a couple different things.  First, we needed to actually create our business and make it a legal entity.  I chose to create my business  as an LLC instead of a sole-proprietorship, as many others did.  As I create this business, I’m wanting it to be able to last past this semester, and hopefully turn into something that I can sustain for many years.  Because of this, I wanted the extra protection that an LLC will give me.  This will enable me to keep any debts of the business separate from my personal finances.  As we set up this structure, we needed to make sure that we look into any licenses or permits that we might need for our business.

The second thing we needed to make sure happened this week, is to actually have our website for our business up and running.  I’ve been working on the basic structure, but I’m still trying to decide on how to process the payments.  I think I’m going to need a shopping cart, so I’m looking at using the services from ecwid.  They look like they offer some great options with building an online store.  They will help me build the products page for my site, but they won’t actually process the payments for me.  I am pretty sure that I will be using PayPal to help with accepting payments.  I feel that they are the most well known, and I can use their basic services without having to pay a monthly fee.  Just the 2.99% fee + $0.30 per transaction.  Eventually, I’ll look at other options for processing these transactions, but for now, PayPal is going to be the choice I go with.

I will be finalizing these last details this weekend, and it looks like in the next few weeks we will be working on optimizing our sites, and promoting them using social media.  If you’d like to check out the site – go to lasvegasdentalsupply.com and take a look around.  Let me know what you think!

Accepting Payments

This week, we have been working on our decision of what type of business model we’re going to be following as we start our businesses. We also started doing research on how to accept payments online for our products.

I have decided to go with the Merchant business model. I have been looking at several different products, and have found a few that I can buy, as a supplier, and be able to sell them at a profit. As I did this research, I have had to look at things, such as a minimum order, in order to be able to qualify as a dealer, and receive the items at a discounted rate.

This has been a great exercise to be working on, as it has enabled me to get to talk to several different companies, and establish relationships that will be beneficial to me for the future.

As I started doing research into accepting credit cards, I was a little overwhelmed by all of the choices. I feel that this is one of the most important parts of this online business that I’m creating, as it has potential to hurt the business if the costs are too high. Accepting payments online has been the one thing that has held me back in the past, since I’ve never taken the time to look into how to do it. I am thankful for the opportunity this week to be able to look into the different choices.

As I start this new business, I’m wanting to keep things as inexpensive as possible. I’ve found many services that will charge a monthly fee, plus a percentage, and a per transaction fee.  I’m trying to stay away from these for now. As I’ll be starting small, I don’t want to commit myself to a monthly fee. Doing this could be a drain, if I’m not selling enough to cover that cost. There are plenty of options that don’t have monthly fees, so these are the ones I’ll be focusing on. Everyone charges a percentage and a transaction fee, at least all the ones that I have looked at do.  This will just need to be taken into consideration as I calculate the prices I will be charging.

I still haven’t made my final decision on which payment option to use, but I have enjoyed going through the exercises. It has helped me better understand what I need to be looking for, and it has given me a lot of information to be able to look through to give my business the best choice in accepting payments.

Keywords

For our lesson this week, we had to finish up a project to help us decide what business we want to start up.  This project included an excel spreadsheet that had many formulas on it already, and we had to fill out different cells, and let the formulas rank our business ideas.  It was a very interesting project and helped to clarify what business would fit into our plans best.

One of the main parts of this project, was going into Google’s keywords helper and try to identify what would be best for our site, and how much competition we could expect.  One of the things that impressed me the most, was the amount of data that is available to us.  There are so many stats, that enable us to look at each individual word and see how well it is performing for our business.

This week helped me to realize that there is much more to running a business online than just putting product online and hoping it sells.  There are a lot of things going on in the background that need to be constantly looked at, and changed, to help the business be the best that it can possibly be.

I think we’ll be seeing a new website coming up quick, so be watching next week, as I tell you all about the new business.

Choosing a Business

This week, in our Business class, we learned about a couple of different things.  The first, was to look at the factors involved when choosing a product to sell.  We learned about looking at different suppliers, and what the different pros and cons would be, when choosing a supplier for our product.  Of course, we want to make sure and get a good price so that we can make a profit, but we also need to look at things such as the time it takes to get the product, and the variety of the products that we would be able to offer from a particular supplier.

Specifically, we looked at the difference between an international supplier, versus a US supplier.  As we look at the different factors, you can find pros and cons to each of these choices.

One other thing we learned about this week, was choosing the correct type of business for what we are doing.  We explored the differences between an affiliate based business and a drop shipping based business.

As we went through the lesson this week, I think I have started to narrow down what I want to sell in the upcoming weeks.  I think that I have found a supplier for the product I want to sell, and I just need to take the necessary steps to obtain some of this product so that I am ready to start advertising it.

This week was really good in teaching us the different concepts, and I look forward to implementing these ideas in the upcoming weeks.

Starting an online business

I’m just starting out in a new semester at BYU-Idaho, and one of my classes has me going through the steps to start a web-based business.  I will be writing a brief reflection each week of how I’m doing so that I can look back on this and see how things have progressed.

I was really excited to start this class, and it looks like it is going to be a lot of fun.  This past week, we have been starting to study how we can search out different keywords for different subjects to give us an idea how competitive a particular business might be. This was a great exercise to do, and I’m looking forward to applying this in the next few weeks as we decide upon a business to start.

It looks like I will need to keep a weekly account of what I’m doing, so feel free to check back here in the upcoming weeks to see how things are going!  And get ready to buy some stuff from me as my online business goes live!

Becoming More Like Him

This week in our Pathway class, we are studying 3 Nephi 23-30.  In these scriptures, we are taught to be more like our Savior, Jesus Christ.  In a previous post, I talked specifically about 3 Nephi 27:27 where it says, “Therefore, what manner of men ought ye to be? Verily I say unto you, even as I am.”

Reading through these scriptures has been a great reminder to me this week of who we need to be striving to be.  As I watched videos this week that go along with our reading, there is one called “Be and Do to Become.”  It is narrated by the Clark’s and they talk about this scripture also.

As they talk, they stress the importance of making sure that we are striving to be more like Christ each day.  They explain to us that in order for us to become more like Him, we must Be more like Him and we must Do as He did.

It is not enough to think that we can just be more like our Savior without actually doing things as He did.  We know that He went out to teach his people.  We know that He would not leave anyone behind and that He loved everyone equally.  We also know that He was humble and did everything that He did for our Father in Heaven and not for His own glory.  We must also do these things if we hope to live a life like our Savior.

What a great example for all of us and what a great responsibility it is for us to try and emulate His life.  I am grateful this week for this reminder of who we should be.  As this week starts, we are starting as a class to work on another Christ-like attribute to focus on as we move forward.  I am so grateful for these opportunities that I have been given to try and become more like my Savior.

Reading and studying the scriptures reminds me each day that these habits we are forming while in this class are habits that need to follow us through the rest of our lives.  It is not something that we need to be doing for a grade.  It is truly something that we each need to be working on each day so that we can truly Be and Do like He did……..so that we can continue to Become more like Him.

 

Feed My Sheep

This week for our pathway class we’ve been reading through 3 Nephi 12-17

In these chapters it talks about how Jesus visited the Nephite people after his resurrection.

As Jesus teaches, He organizes His church among the Nephites and tells them of other sheep that are not of this fold. I love when he talks about sheep from another fold and how we are to seek them out to bring them into the fold.

One other thing I was able to do this past week was spend time with the Priests quorum and the Teachers quorum from our ward as we went on our high adventure scout camp.

One of the activities we did with the young men during the week of camp was a COPE course. COPE stands for Challenging Outdoor Personal Experience and is made up of a variety of different activities throughout the day.

As I studied the scriptures throughout the week, the activities we did during scout camp made me think of what the Savior was teaching the Nephites.

In our COPE course, one thing that constantly came up during the activities was the importance of teamwork. Along with this was the mindset that we had to have to not leave anyone behind as we progressed through the challenges.

It really made me think of the teachings of the Savior and how in life, we need to adopt this type of attitude in our daily lives. We need to be aware at all times of those around us and what we can do to help them.  We know that we are all God’s children and with this knowledge comes a particular responsibility to share the gospel with others.

We should always keep those around us in mind so that we might look for ways to bring them into the fold as the Savior has counseled us to do. We should be constantly seeking out and helping to spread the gospel.

I am grateful for the gospel in my life and I hope that I can do better in the future with seeking out those around me that are looking for the truth of the gospel.