THIS IS AN ADVERTISEMENT FOR LEGAL SERVICES
As a lawyer, I represent many start-ups and small businesses in all the trials (pun fully intended) and perils that come with small business ownership. I also created and run my own solo law practice, so I have first-hand experience at both owning a small business and counseling fellow business owners. At a fundamental level, I “get” practical business concerns and look for practical answers.
Right now, I’m at a crossroad many entrepreneurs have been at before: I have an idea for a new business, and I want to pursue it. I’m writing this blog post series as a guide for entrepreneurs who have an initial business idea, but don’t know how to make that idea into a reality. I hope that this blog series outlining my journey starting a new business serves as a guide for others in their business endeavors!
So here’s my story:
I am opening a children’s book/art production business.
I’ve always sketched, painted, and sculpted as a hobby. When I became a foster parent to two young children, I had nightly “drawing time” with them after work as a time to connect and relax together. I began telling them stories about my two dogs, Rosie and Lucy, and sketching crayon illustrations to go along with the stories. That led to me authoring and illustrating my first children’s book, Rosie and Lucy Make a Splash!
I sent the manuscript out to publishers for consideration. The book was picked up by a publisher and has begun earning royalties. A sequel, as well as another differently-themed children’s book, are both currently in the works. That’s the core of my business that I want to establish and expand. Getting into the children’s book industry is a complicated process, and outside the scope of this general business blog post. But feel free to reach out to me if you have more detailed questions about that process, and I am always happy to advise.
Rosie and Lucy Make a Splash! is available for sale at https://www.authorhouse.com/en/bookstore/bookdetails/830477-rosie-and-lucy-make-a-splash.
It's common for business ideas to develop organically like this. There’s a lot of definitions of what makes a business, but they all center around this fact: A business involves finding: (1) something you’re good at; (2) that you enjoy doing; (3) that people are willing to pay you money for. Here, I have an initial product (Rosie and Lucy Make a Splash!). I’ve identified a business model with revenue streams: royalties from online and in-person book sales. And I’ve got an initial “proof of concept” with initial sales of my first book.
My next blog post in this series will look at the first steps of establishing a formal business: creating a business entity. I’ll discuss formation of LLCs and corporations, creating and protecting a business name, and getting the new business entity up and operating. Stay tuned…
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