I realized this week there is so much more to starting a business than I initially realized. For example this week we researched and discussed using PayPal for credit card payments. My initial questions were initial about my own pricing, shipping costs, and taxes. But as we discussed I began to realize there is so much more to it all. There are transaction fees to consider, what happens during a fraudulent purchase, the ease of use for the customer, ease of use for me, tax reporting, etc etc. And that’s just the details surrounding how the customer pays me for my products and one payment service. If I were to offer more than one payment service I need to do research into all those options. And this week we will start researching the legal side of a business including structure, licenses, and and taxes. I can see that I still have a lot to learn.
Although I am very excited to be creating my products and building my website. This part of it is lots of fun. I love designing and by starting this business I had an excuse to buy a few new toys too. I’ve also been doing lots of visual research to get ideas for both my website and my products. It’s fun!