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Step 7Sort out any regulatory issues and start spending your money
As an entrepreneur, before you start making any money, you have to spend some, and boy are there a load of opportunistic people out there ready to take it off you. It's as if when you want to make something, everyone pricks up their ears and decides that you're fair game for their little entrepreneurial activity in the fee for service department.
You might have already had patent fees, trade mark registration fees, lawyer's bills, but if you have managed to get this far on your own, you'll certainly start spending the folding stuff now. If you intend to sell via any retailer, they will require a barcode. This is a stock controlling number that is unique to your product - worldwide ! and allows the retailer to manage their stock. For this you will need to be registered with an authorized barcode number supplier (only one in the UK, called GS1) they'll want $200 off you to register and then $200 for your first year's fees and then guess what, you need a special piece of software to convert the barcode number (of which you now have 10,000) into those little bars (it can't be that hard I was thinking) well, there are only a few authorized barcode creation software houses and guess what... they'll have $200 off you thanks very much for their tiny bit of software.
If you're selling via the web, you'll need stickers, envelopes, stamps and of course a verified paypal account or some other form of etailing means of cash collection, which can take time to sort out.
This is also a good time to start finding out what Customs and Excise boxes you have to tick. Remember that your own country's customs and excise departments are (in most cases) paid for by your taxes and are there to help you. They often have helplines and loads of helpful literature. Government in general would like to encourage entrepreneurs and commerce so don't be scared, ask and make sure that you have filled in all the right forms so that you are not doing anything illegal.
You might have already had patent fees, trade mark registration fees, lawyer's bills, but if you have managed to get this far on your own, you'll certainly start spending the folding stuff now. If you intend to sell via any retailer, they will require a barcode. This is a stock controlling number that is unique to your product - worldwide ! and allows the retailer to manage their stock. For this you will need to be registered with an authorized barcode number supplier (only one in the UK, called GS1) they'll want $200 off you to register and then $200 for your first year's fees and then guess what, you need a special piece of software to convert the barcode number (of which you now have 10,000) into those little bars (it can't be that hard I was thinking) well, there are only a few authorized barcode creation software houses and guess what... they'll have $200 off you thanks very much for their tiny bit of software.
If you're selling via the web, you'll need stickers, envelopes, stamps and of course a verified paypal account or some other form of etailing means of cash collection, which can take time to sort out.
This is also a good time to start finding out what Customs and Excise boxes you have to tick. Remember that your own country's customs and excise departments are (in most cases) paid for by your taxes and are there to help you. They often have helplines and loads of helpful literature. Government in general would like to encourage entrepreneurs and commerce so don't be scared, ask and make sure that you have filled in all the right forms so that you are not doing anything illegal.
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