April 2008 Archives

I can imagine that during the early 60's there was a rivalry stirring amongst the tranquil waves of the Salton Sea. In the Southwest, as part of the Holly Corporation's development of Salton City, a championship golf course was built, and the crown jewel of the city was the Salton Bay Yacht Club. The Salton City 500, a speed boat race, attracted many visitors, including some from Hollywood. In the Northeast, the lavish North Shore Yacht Club & Estates opened at a cost of approximately 2 million in 1960, home of the largest marina in Southern California at the time. There was also a luxury seafront motel, and North Shore became known as the "Glamour Capitol of Salton Sea." With two new cities each trying to outdo the other in terms of attractions on opposite sides of the shore, the Salton Sea was poised to become Southern California's next premier vacation spot. With the dedication of the Salton Sea State Park only a few years earlier, the Sea was a land of opportunity for real estate and recreation. What went wrong?

With the debut day for Rudyland on the horizon, I've decided to take a look back at my journey so far and write a blog entry that I wish was already written when I was doing my research into starting a business (and preferably by someone with way more business experience, but I digress).

The idea of starting a business is pretty daunting. It seems like such an impossible task, and it's taken me about four years to get my act together and go for it. I'm certainly no expert, but I hope my experiences can be helpful to others who may be in the same position.

First Steps: What type of business am I going to be, anyway? The four main types are Corporations, Limited Liability Corporations (LLCs), Partnerships, and Sole Proprietors. Since I am going to run my business individually, with no employees, I'm a Sole Proprietor. I'll have room to grow later on, and won't have to fill out as much paperwork in the beginning. The only real disadvantage is that if my business is unsuccessful and I owe too many debts, collectors can go after my personal assets. If I become an LLC later on, I'll have much more protection, but for now I'll be smart with my money and investments, and hopefully won't have to worry.

How much paperwork do I have to deal with? I've made a list of everything required to run a business in California. This shouldn't be too different for other states, but check to make sure!

• Fictitious Business Name/DBA (County) - This is the legal name of your business, and this document is filed with the county in which you are doing business. Upon receiving the forms back from the county, you're required by law to take out a classified ad for 4 weeks announcing your new business. For a Sole Proprietor this should cost <$100.
  
• Seller's Permit (State) - In order to sell a product in California you need a Seller's Permit. It is obtained from the State Board of Equalization. You must file this in person in order to meet with a representative who will verify your information and let you know how often you need to file taxes. In CA the Seller's Permit is free.
  
• Business License (City) - This is required by the city in which you do business, even if your business is run out of your home. It is obtained from the Chamber of Commerce. In my city I can file online, and for me this is the most expensive filing, >$150. The tax needs to be paid yearly or your license is revoked.
  
• EIN (Federal) - An EIN is your Federal Tax Identification Number. Sole Proprietorships do not require an EIN (you can use your Social Security Number) but since it's free, it's a good idea to get one anyway. It would also make it easier for your company to grow, since all other types of businesses need an EIN. EINs are assigned by the IRS.

What else should I do?

Get a PO Box. When your FBN information is published, it's public record. If you're running your business from your home, unless you want your home address published, use the PO Box as your Business Address. This also makes it very easy to separate business correspondence and banking from personal correspondence and banking.

Set up Business Banking. Once you have the FBN paperwork filed you can open a Business Bank Account. This is the only document the bank needs in order to open your account aside from obligatory personal info. It helps to have the EIN as well when you set up your account, but for a Sole Proprietor this isn't required.

Find a CPA. I went to Art School so I'd rather not deal with tax deductions and complex legal filings related to money. A CPA will take care of all your business finance requirements and make sure you can write off that $1500 Nikkor Lens as "business capital" (it is!).

Specific to the Fashion Industry

• RN If you are going to be selling Tshirts or any other apparel, you need an RN (Registered Identification Number). The application is free and can be filed online with the FTC.

I'm sure I'm forgetting something; when I remember I'll be sure to add to this entry. Feel free to provide your own advice, or better advice since I'm so new at all this!

I have a secret shame - I read gossip blogs like The Superficial and Oh No They Didn't. But it's purely for the Schadenfreude Factor, ok? It's really entertaining to read about idiot "celebrities" doing dumb things and laughing. One trend I've noticed, however, is that for some reason all these people think they can launch a clothing line as easily as intentionally "forgetting" your underwear. Abandon any idea of hard work, good design, or artistic integrity - with all that cash who needs it?

I'm about halfway through getting my FW08 photos on Flickr. My "Photographer's Dilemma" is that I find far more enjoyment in the taking of pictures than in post-processing them - instead of sitting around making minor corrections in PS and then resizing photos for web, I'd rather go out and take more photos. It's counterproductive, really, because as I sort through my photos I often think to myself that although I am satisfied, I still feel that I could explore other situations and angles and lighting, and basically take the photo over again to make it better instead of bothering to edit what I have. I explained this to another artist and he called me selfish. He's probably right.

Of course, dealing with clients is totally different - all my clients get work delivered on time and in the specified format. But for personal stuff, I'm woefully lazy.

When I was still in school, a professor asked me "What is your best photo?"

My answer? "I haven't taken it yet."

Tomorrow I am going to NYC to watch Uliana Lopatkina dance The Dying Swan, one of the most challenging ballet solos not only for its technical demands, but because it requires immense emotional fortitude.

Originally choreographed by Fokine for the great Russian ballerina Anna Pavlova, The Dying Swan captures the last moments of the fragile creature in beautiful agony before its death. A ballerina who dances this role is challenged not only to portray the frailty of dying, but to display defiance in the face of impending death, to struggle to the last breath, gracefully. Dancing this piece is one of the defining moments of a ballerina's career - like Swan Lake, The Dying Swan is a piece with which a ballerina's virtuosity is judged.

The Rudyland Premier Collection for FW 08 is in production right now. By the numbers:

• 9 original designs
• 2 unique patterns exclusive to Rudyland
• 50 shirts total - 25 Men's & 25 Women's
• 4 colors - black, white, and two pantones
• 3 special thread colors used, since having black thread on a black shirt is boring!

Art Preview: Days until LA Market: around 50