Finances
I must admit that one of the reasons I finally decided on a virtual business was for financial reasons - I already had a computer, printer and the internet! What more do you need? In the beginning, I couldn't even afford to pay for webhosting, so for a long time I used a freebie site, and I did ALL of my marketing online. I still do for the most part, and I've been running Typewrite Transcription since 2005.Firstly, I created a website. I've been through various hosts, but currently (and to stay, as it's not a good idea to keep changing domain names) my website is at Typewrite Transcription. and even now, it's the only form of marketing I pay for on a regular basis. On an ad hoc basis, I do things like brochure drops - I did a barter agreement with one of the printing companies and had 5,000 brochures made, which the post office distributed into boxes for me at 10c a brochure.
I haven't had to lay out any capital to start the business. Obviously as years go by, you upgrade equipment, buy new things, etc, and as the business grows, you sub contract. I started out doing all my books myself, which I soon discovered wasn't a very good idea - I'm useless at accounting and maths and the greater complexities of SARS etc elude me. So I've outsourced that and the small monthly cost I pay is well worth it to have FIGG Excel Accounting Services do my books (So F is for Figg, too)
