Ten or so years ago I woke up with a great idea to start a computer business. I had high hopes of opening a computer superstore stocked with tons of equipment, cutting edge computers and a fleet of geeks. I quickly realized the $200.00 I had saved after my divorce wasn’t going to get me very far.
Whenever an up and coming entrepreneur comes into one of my shops I always offer assistance however I can. Most of those who walk into my shop are looking for a cheap and dirty way to get their business off the ground. Almost always we’re being asked to repurpose an old computer for their business.
The theme of this week’s article is nothing new. Every year I write an article about starting a business and this year’s comes at the eleventh hour. Last week I had an enterprising woman come into one of my stores who asked us to turn a retired home PC into her business computer.
During our conversation she admitted she hadn’t put away as much money as she hoped, but decided to roll the dice anyways. She purchased most of the equipment for her tanning business used and decided to do the accounting and legal paperwork herself.
Through her own research she figured out her technology needs are relatively minimal. Her five year old Vista computer should be more than adequate with the minimum internet service she can get. To further save money she contracted her cable internet provider to handle her telephone service.
Using a website called LegalZoom.com she was able to handle all of the startup paperwork herself. According to my customer, LegalZoom had all the paperwork on their website to assist her in becoming incorporated. For around $200.00 LegalZoom filed her paperwork with the state and got her off the ground.
She introduced me to a website called Xero which offers an online accounting package similar to QuickBooks. She did a little research and found that Xero was less expensive than other accounting options and all her business data would be stored in the cloud. She could do business from basically anywhere.
Many people don’t realize credit card terminals cost hundreds of dollars. When my customer was quoted $450.00 for a terminal through her bank she examined her options. She found a service called Square which offers a free terminal that uses a smartphone or tablet. A benefit of Square is that it seamlessly integrates with Xero.
Apparently too much tanning is not a good thing. To combat this issue she found a free piece of software that was created specifically for the tanning industry that manages clients’ use of the equipment. With a few clicks, all of the data from this package can be exported to a format Xero can understand.
I’ve watched many businesses fail because of poor cash flow and poor liquidity; the two things that mark the success of any enterprise. My new acquaintance started right by not using all of her resources to fund the business. With technology on her side she’s able to quickly assess her finances, decrease the time it takes her to get her money and make changes much quicker.
Anyone can start a business. Starting a successful business requires ingenuity, hard work and perseverance. Even with a few hundred dollars and a little bit of technology, businesses can be started anywhere. My company was started with $200.00, a cell phone and a soldering iron in a small two bedroom apartment. Why not try your idea?
(Jeromy Patriquin is the President of Laptop & Computer Repair, Inc. located at 509 Main St. in Gardner. You can call him at (978) 919-8059 or visit www.LocalComputerWiz.com.)