Business Set Up: Part 1

So you've been thinking about how you can turn your creative hobby into a business, but now you have this idea - what next? Well the absolute first thing you need to do is become serious about your dream and don’t just limit your idea to earning a few coppers on the side because you never know where it might lead!

Earning an income from your creative hobby is not purely about someone buying your products; it’s about making a livelihood that works for you. The early days are about development stages where it is important to include all the activities you love or you will soon grow tired of something that started as a hobby.

One of the first items on your business “to-do” list has to be deciding on a business name. The name should reflect your product but ask yourself this: Will the name still sound good in 5 years time and will it give me the space to grow? I chose Butterfly-Crafts because I am fascinated with butterflies and how they go through many changes, I could develop a good brand and also cover many crafts. If I’d chosen Butterfly-Cards, I would’ve put a constraint on myself.

Coming up with a business name can be fun, just remember though that you will have to live with the result so it pays to do some homework and groundwork. Research on the Internet to see if your name has been taken, check with any agencies if necessary but overall, make sure the name you choose is a perfect fit!


Coming in the next Business Tips blog on Friday: Business Set Up Part 2 - Basic Necessities

Monday, 6 July 2009 | 3 Comments

3 comments:

YoursTruli said...

Great article!

SiSi said...

Great read! I am in the process of defining my store name.

Butterfly-Crafts said...

Thans Sisi - you'll have to let me know what you decide on

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