When I started Bucksome Boomer in July 2009, the idea of it becoming a business was not in my realm of possibilities. Only after reading the success stories of other bloggers and expanding my knowledge, did I start to think about it.
During the past year, it became something I definitely wanted to do as I started earning money from my endeavors. Hearing the advice to have a separate account once you hit a certain amount of annual blog income pushed me into action.
Registering as a Business
This is the year I started the official business. After research and speaking with two different lawyers who are also bloggers, it didn’t seem I needed to incorporate.
As the single proprietor of this fledgling empire, I decided to register a fictitious business name also referred to as a DBA. My business is now known as KLA Media after paying the $30 fee and another $12 to publish it in the paper four weeks in a row.
I then paid for a business license in the city of San Diego which was a cost of $51. Next steps are to open a checking account and get a credit card in the business name to help me separate income and expenses from my personal finances.
Blogging Goals Update
I started the year with four blog goals for 2011 and thought it would be a good idea to see how I’m doing.
1. Subscribers – The starting count of subscribers in 2011 was 315 subscribers which has grown to 490. I’m just about halfway to my goal of 1,000 by the end of the year and am giving a $25 Amazon card to one subscriber in appreciation.
2. E-book – Instead of working on an e-book, I launched a new blog, Two Savvy Sisters, with my sister (hence the name). It’s focused on deals, giveaways and freebies. Only giveaways related to personal finance will be hosted on this blog from now on.
3. Income – My goal for income is $1,000 a month. It hasn’t been that much the first quarter, but close. The problem was January was extremely slow due to holiday hangover from advertisers. Hopefully, it will pick up in later months to make up for that.
4. Newsletter – The goal is to publish the first newsletter during the second quarter. After trying out one popular contact management program and finding it too complicated, I ended up with MailChimp. I guess it really is easy enough that monkeys can use it!)
You can subscribe to the newsletter now and maybe you’ll win a second $25 Amazon card. My first newsletter will be out later this month.
I wouldn’t have this fledging business without readers so thank you. Please continue to leave comments. If you have any ideas on what you’d like to read or about the blog, please send them to me. Here’s to a successful 2nd quarter!