This year so far has been somewhat of a growing year for my business, LML Video Services.
I have added new services, and I’m currently planning a commercial. If you have any interesting ideas let me know, as I’m always open for suggestions.
Last weekend I delivered some Cassette tape to CD transfers (the first ones I have done). The client gave me 24 more tapes to transfer! They have all been Sherlock Holmes sets that are not available on CD. I have completed 12 thus far, hopefully I will have the rest completed by the end of the week. I do know copyright laws, and anyone owning copyrighted material can make a “sole backup” copy of any work they have purchased. Each of these transfers has a disclaimer on them stating, “Transferred to CD for backup purposes.”
My New York client is sending me some more video transfers as well. Thanks Marc!
I have also organized everything. I am now using QuickBooks, keeping track of expenses and income, and making backup copies of reciepts. I have everything saved on my PC and a binder. I will use a new binder for every year. This will help when the tax man cometh, and should the time come, business loans and credit cards.
My new plan is to save, instead of spend. I have been spending every dime I have on improvements since the word go. Since I believe I have adequate equipment I am cutting back the spending. The next step for me is bigger and better everything. These items aren’t cheap, so I’m working on starting a business savings account to help save for future expansion.
UPDATE: Interestingly enough, one set of the Sherlock Holmes tapes was manufactured and distributed by a company in the same town as my New York client.