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Small Business Ideas Forum

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Old 18th November 2009, 11:48 PM   #1

Join Date: Nov 2009
Posts: 3
Default Dont Let Trivial Stuff Ruin Your Dreams! Tax Is One Of It..

***This is a post I made to a AUS base forum so some reference like $1000 tax is irrelevant to different countries. Check with your local authorities to know what is your Tax charges. Just posting in this note to share with you guys and to enlighten people who are new.***

Most new business owner wannabes are feeling too overwhelm by Tax.
Personally, I dislike tax as much as everybody does. However, Tax is the main source of income for ones country.

Tax is also a major problem that hinder many potential business people from making more money. I usually advice my customers to focus on planning how to sell or expand their business instead of worrying about Tax.
If one keep thinking about how much money Tax is gonna cut away from your profit, your business will probably not go too far.. its more like travelling long journey in a car with problematic engine.

Usually, tax bothers new startup with limited capital the most. My best advice to new business wannabes is to start slow.. source for reliable merchandise that sells! slowly build a loyal customer base on a steady pace. If there is ever a success stories thread, I am sure it would receive the most views. Everybody wants to be successful, yeah who doesnt?! but do you know how much effort did that person put into his business?

Absolutely, nobody or merchandise can guarantee your success. Its YOU who can determine your success. As the old saying goes.. a good start or plan is 50% to success. Dont let trivial problem like Tax become an obstacle to your success.

First step, you need to know what to sell. If you dont, look for someone to help you. But cross your fingers and hope you dont come across a scammer.
For your first order, always start small. Perhaps go with the minimum amount to evade the tax (yeah!! woohoo) .. that would be under $1000. Lets make it $950 to be safe.

If your supplier who have enough shipping experience, it is possible to depreciate value of your merchandise to maximize your $950. If all goes well with a good selling plan, it is possible to make a few times turnover off your capital. for example, $950 worth of goods, $2500-3000 is a very realistic target for new sellers. It all depends on your goods. Just like selling X'mas stuff like lightings for the upcoming X'mas should almost guarantee that you could sell off a huge percentage of your goods.. but earning might not be that high due to too many people selling it. No, its not the end. You just have to be more selective and creative to sell stuff that are special or rare.

Whats most important is.. stay focus, have a game plan and dont let trivial stuff like tax which is something you cannot avoid bother you too much. Most importantly.. Enjoy what you do. Dont just do something just for the sake of dreaming the millions you could make... its good to dream about it but overdoing it gives you nightmare.

Good Luck !

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Old 19th November 2009, 10:44 AM   #2

Join Date: Nov 2009
Posts: 11

What a lot of people forget is that one day you will probably want to sell your business. Many business owners lose substantial amounts of profit on the sale of their businesses because they have understated turnover and profit in their books. It will be the amount of turnover and profit declared that will determine the price of your business. If you look at it this way, much of the tax paid will find its way back into your pocket eventually AND you have the satisfaction of knowing that you have been honest.

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Old 24th November 2009, 04:40 AM   #3
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You are so right here, to beat the competitors you should sell originall but at the same time popular products, and staying positive no matter what happens will help you in your business a lot

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