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- #31
G
GuestUser140
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What an acheivement Michael congrats and thanks for the thread.
I have a few questions, when you started out were you focused on a particular market or were you just buying and selling anything? If you were buying and selling anything how did you build a brand around it? Did you brand yourself as a buy and sell anything type of a store?
In terms of tax how did you structure your business at the beginning? did you do more offline transactions to beat the taxman? If it was online were you paying any tax? If not then how when everything is tracked online?
Focused on one thing from the start. It doesn't take half a brain to know what sells best. Be driven by popularity rather than margins, 8% margins buy you a Ferrari if you got need/demand/volume on your side.
Your problem is that you're worrying about taxes before you've even earned a dime. Get an accountant. You want to be a business that hands out invoices with warranty. A company people tell each other about, not just a dodgy guy trying to make a quick buck. It's good to think about how you can maximize your bank account, but use your creativity on a different playing field. Aka, "how can I make more people buy from me?"
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