This is one of those weeks where my experiences have both helped and hindered my course work. From a legal structure vantage, I completely understand why most of the students in our class selected sole proprietorship. I read a few things that didn’t make a lot of sense like “I want to be the final decision”, which has nothing to do with SP’s, but that isn’t important. What’s important to understand is how being an LLC can protect a company that gets into financial or legal trouble.
I went ahead and set up an SP for this project, but if I decide to keep it going past this class, I’ll flip it over to an LLC. I just have too much to lose if this is going to be a long term option. I love the potential of the affiliate market model and I'm hoping to keep something going in this space, even if it isn’t keyboardkingdom.store. Actually, KwyboardKingdom.com is available, but a broker has it and set the price at $1995.00 to buy. If things look good, I’ll counter him at $500 and see where it goes.
I’m not really sure any of the other legal structures fit this course. Like I said in my essay, I had an S corp years ago when I was doing SAP consulting. IT’s not bad, but the taxes were more than it was worth.
As far as the overall class is concerned, I think things are going well. I’m still waiting on Impact to finish the review of my affiliate marketing contract with Logitech. But the website links all direct to the Logitech site, I’m just waiting on the cookie from Logitech now. That will be interesting to see in action, I’ve never seen how it works.
That’s really the last piece, but I imagine I’ll try and create social media accounts and try and add a blog to the site. I only started with 3 keyboards and mice on the site because I didn’t know what kind of media kit I’d get once the affiliate agreement went through. But I think I’ll register with Razer, Red Dragon, Corsair, and TESmart to try and round out the site.
On to Week 7!
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