THE INVISIBLE JOURNEY TO INDEPENDENCE 7

Oh, what a beautiful day here in Baltimore!  This is the perfect day to start working out your budget for your business.  If you are like me, you hate budgets, but it has to be done.  So, get your calculator, pencils, paper, and cold lemonade.  While you’re doing that, I have some good news. (snooze!).

 

Ok, now, keep in mind your budget for your business is a process like everything else.  What we need to do today is make a list of every expense we expect to have:  cost of filing business forms, utilities, inventory, office supplies, office equipment, travel, promotions, liability insurance, checking account costs, attorney counseling fees, financial planning, life insurance, health insurance, rent, car payment, and anything else your business will need to operate.  Some basic expenses should include:  a desktop, file cabinet, calculator, ten-key adding machine, social media re-occurring fees, attorney consultant fees, any trade  memberships costs, printer/copy paper, ink, a printer unless you plan to use a retail copying center, file cabinet, folders, pens, pencils, applicable software, such as one that keeps track of your revenues and payroll for you, your tax liabilities, tangible trade subscriptions, online subscriptions, and healthcare costs.  This is just an example of what should be in your budget and it must be tailored to YOUR business operating costs and needs.

 

Now, this is an overwhelming undertaking I kid you not.  I found that doing one thing until it was done and then sticking it in a folder worked best for me.  I discovered along the way that many business forms can be completed yourself by using online lawyer services offering Forms.  I recommend The Law Depot.  Here’s how it works:  for a nominal fee, you can download as many business forms as necessary.  This legal service provides attorneys as well for ongoing consulting for a nominal fee.  The Law Depot has attorneys in practically every state in the United States; if not all.  I tried a couple of websites and this was the simplest and most functional form generator.  Lord, I hate to visit a website, sweat through completing all the questions and information, and then it doesn’t print or save or my pc keeps crashing … what is that about?  Of course, I end up thinking somebody in cyberspace is stealing my patent for cookies or something … gee whiz.  So, your state department of taxation website informs you of all the forms necessary for your bussiness' category. SDAT in Maryland has many forms listed on its website.

 

Ok, so while you are staring at the list, and thinking, “Oh, my gosh!”  Calm down, calm down.  I told you I had a surprise, too.  Healthcare Reform will offer at least 8 ways to save us money! beginning October!  Did we know what we were doing or what with all our advocating?  (Snooze!).  Yes, indeed, the Affordable Care Act is going to save us money on preventive-care, pre-existing conditions, covering our young adults, and … alright, hold on to your seats … PRESCRIPTIONS!!!  Rejoice!  We were so brilliant to BELIEVE because while it may not be much to some folks, those saved dollars, balance, and wellness will lead us down that path to small business owner and sustain us.  By the way, some of us may have a two-year goal of starting our business or just want to work for others and gain independence which is fine, but we cannot break through that brick wall known as minimum wage … ugh!  Minimum Wage keeps perpetuating the stereotype that we cannot do anything much or need much anyway so increasing minimum wages a few extra dollars is no big deal! (heart be still ...).  Meanwhile, those few dollars keep us in poverty and we do have hopes of not being barred from the American Dream.  Imagine, if more persons had more to spend, they would buy your product or service.  That is sustainability.  This is why President Obama wants to raise the minimum wage.  This is the same thing former-President Reagan did and it improved the national economy.  So, we must unite and get all those harmful bricks knocked out and join the middle class!  amen, Amen?  AMEN! 

 

Ok, where was I?  Oh, I remember, we will need a budget for our small business.  We can read about budgets on the SBA website, take webinars on the topic, work with a mentor, or current software applications, etc. depending on your comfort level.  Whatever you decide, be sure you understand your budget and your responsibilities.  Take your time.  Have a thorough understanding of your budget and the TW and SSDI benefits after you have been operating after the nine months. Be flexible on buying products or services that can do the job right. Can you use recycled paper and save some trees?

 

Next thing I want to add is that we always have these big ideas about our business down to the carpet we want on the floor, etc.  I am reading about strategies for business success in the post- recession era.  It emphasizes starting out small and being patient.  Which reminds me, did you know that the social media technology will change about every six months?  Will you utilize this technology for your small business in any way?  (brrriing...).  Your budget should reflect the cost of applicable software to keep up and can your Smart Phone keep up, too?  Oh, Lord, what happened to the days where you just put up a yard sign that read, “Home-made Lemonade for Sale!  .05 cents and the flock would come running. …(snooze!)

 

Ok, let’s look at the Affordable Care Act and see how much we could save and then think about how to best use those savings for our business.  Then we can start explaining to our youth, “See, I want you to  inherit  my business one day or start yours, but you will need to be healthy and responsible because its hard work staying in the race to keep our nation strong! (sign here ... smile).  Accepting change is a gradual process.  I remember transitioning from visible to invisible but not wanting to end certain medications because I was just afraid to even though my doctor and therapist were encouraging me that I did not need ithem ….uggh, the money I spent…but now I’m free.  YES!

See ya soon,

 

THE INVISIBLE JOURNEY TO INDEPENDENCE 6

Hi everybody!  I love it when there is a little down-time in my schedule.  That allows me to write to you and catch up.  I am hoping each of you had a conversation with a counselor from the TW program.  I hope it was positively encouraging as well.  If not, do not let go of your dream.  Keep pushing the TW and asking relevant questions.  Keep up  with you independent research as well and there is a plenty to do before you open your business.  Ok, now that the business name is free to use, you will need to visit the State Department of Assessment and Taxation (“SDAT”) if you live in Maryland.  I preferred to go in person because I ask a lot of questions, but anyway, you can locate the link for “Trade Name Application” on their website. Complete the Application and mail it to the address listed with $25.00 (Check or Money Order).  Be prepared to wait about 6 to 8 weeks for your “L” number to arrive.  The “L” number is your business license identifier number unique for your business.  It is proof your business name is reserved and registered to do business in Maryland.  If you wish to have your Application expedited to get the number sooner, be prepared to pay an additional $50.00 ….

 

Ok, (snooze!) while we wait for the old “L” number, we can work on the Executive Summary and Mission Statement.  This is a statement about the goal of your business.  What will it accomplish?  Who will it target?  What product or service will your business offer?  Why?  It should be relatively brief … about 3 to five sentences or one paragraph each.  The Small Business Association (“SBA”) has information and Webinars to guide you in writing your Mission Statement.  I also like “eHow!"  However, there are tons of resources in libraries all around, too.  I recommend you write it out and turn the page and write it out some more.  When you are finished, read the last paragraph and summarize that last paragraph to create your Mission Statement.  This is because we typically start out talking about how we will change the world and our ideas flow.  Then the brain somehow begins to realize that’s an awful lot of change for one business starting out!  This is when you begin to speak specifically about how your business will positively impact the changes in the world today and how it will grow!  Whola!  Share it with trustworthy supporters for feedback and editing.  Once you are satisfied that the Executive Summary and Mission Statement are complete, they should be typed and placed in a folder titled, “Executive Summary & Mission Statement.”

 

Did I mention several times already that becoming an entrepreneur requires recovery from a mental health condition?  If you have not reached recovery, keep reading and preparing yourself for that big day!  This is a goal for anyone to set and aspire to accomplish.  YOU can do it!  Just stay the course as recommended by your doctor and or therapist:  TAKE your medications as prescribed!  Get plenty of sleep, exercise, and enjoy a healthy diet!

 

See ya soon,,

THE INVISIBLE JOURNEY TO INDEPENDENCE 5

 

Fall’s almost here!  Feel it in the air?  Smell the leafy cinnamon in the air?  Tick-Tock goes my alarm thingy so let's gets moving!  Hopefully, by now everybody knows what names can be legally used for their business and have checked in with DB.  I promised, or at least said, we would do the ticket-to-work (TTW) for starting a small business, but I decided to wait another week or so to get into that.  I do want to encourage you to visit the Social Security Administration’s website and link to the TTW page.  You will learn that you can use your TTW to obtain help and support to start your own business.  YOU should discuss this thoroughly with your TTW Counselor.  Do NOT be discouraged if you are not ready today to start your own business using the TWW, but at least inform your Counselor of your intentions.  This is because the same rules apply as far as benefit income, Medicare, etc.  You want to be sure that if you are using or applying for the TTW, you are matched with an employer who knows your intentions to own your own business as well.

 

Ok, let me step back for two minutes to talk about my visible days with a mental illness and the TTW program.  It was an excellent program to aide me in re-entering the work force.  There are some confusions that I had to sort out on my own about reporting.  The first thing I had to sort out was that I needed the faith and self-initiative to decide to go another route than the choices presented me.  I still had a Counselor, but I opted for employment that for me was more SUITABLE and personally rewarding.  I believed in all the employment opportunities at that time, it was just not compatible with my goals.  So, do not rush into an opportunity that will not meet your long-term goals.  Now, funny how my first job was supposed to be another volunteer opportunity and I was offered a paid position.  It was hard and boy-o-boy tough!

 

The job was with kids.  I learned on day one that kids are brutally honest and they tend to sling words that are offensive left and right.  So, I was called “Bipolar” all day long.  At first I was insulted and offended and made about three or four trips to the restroom to cry.  Then a co-worker entered the restroom and asked what was wrong.  My response was, “the staff told the kids I was
Bipolar.”  The co-worker laughed and said, “Those kids tell us all we are Bipolar.  They don’t know what they’re talking about.  In their world, all adults are Bi-polar and the funniest thing is they call each other Bi-polar, too.  It’s the new thing.”   I think you get the point.  So, the kids were just being kids and I learned not to wear my feelings (secret) on my sleeve.  Gee whiz …  However, there are lessons to be learned even when we mean very well.  We must be careful who we share information with in the workplace.  Persons with Diabetes, Hypertension, Heart Trouble, pregnancy, divorce, etc. tend to do the same thing.  Now, if we turn that principle around, we likewise need to exercise caution and judgment about sharing personal health information with clients.  I love to show people how I am blessed and then if the opportunity presents itself, they NEED to know so the barriers, stigmas, and stereotypes are eradicated for us all and for those coming up behind us they have hope.

 

(tick-tock)  We also have to be absolutely sure to report income regularly to the Social Security Administration.  If you forget to report information, you stand to lose your monthly benefits, Medicare, and you may be denied reinstatement, etc.  So, whether business owners or TTW employee, make it a point to submit your monthly income/revenues to SSA “YOURSELF!”  Just in case you are caught in the web of reporting violations, you should know that you can appeal the interruption of benefits due to overpayment, apply for a one-time (emergency) benefit of up to $999.00 while you wait for your appeal application to be processed and decided on.  You can also re-apply for benefits if you should have another hospitalization for the same disability.  amen, Amen? AMEN!  So, as part of planning for your small business, research and review all this with the TTW Counselor and keep all relevant informational pamphlets, newsletters, etc. in a handy place with all your important business planning papers.

 

Now, I’m just thinking about having a back-up person to help for those days when darkness is thick.  What can he or she do during your absence that won’t neglect your client’s needs?  Perhaps he/she could catch up on stocking, filing, returning phone calls, scheduling appointments/meetings, or registering you for trade conferences.  (yippee ...NAMI-MD State Conference).  Surely, there might be errands to run, too.  The one thing we do not want to do; however, is hide under blankets and let our business get lost in darkness forever.

 

Walking with purpose requires a lot of meditation.  No matter how small a detail may be to others, you have permission to meditate on it and be sure you make the right choice.  I was thinking a short while ago about what type of fresh brand to launch my business.  All I could think of was to use an alarm clock as my brand with the words inside going around it:  “It’s time!  It’s time!”    Hmmm…. Whatcha think?  Me neither.  I went with visible doves for peace…love…

See ya soon,