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Woodshop Beneficial Financial Paths

Woodshop’s Financials Woodshop Beneficial Financial Paths are our topic today. What do we mean by financial paths ? Are we talking about our shops expenditures each month ? What things cost us ? No of course not, we’re talking about the different ways to plug your own shop into making money. The life blood of all business. I’ll share with you all the steps I’ve taken to keep our Shop’s doors open. Woodshop Beneficial Financial Paths In order to make our financial paths we must first know the steps in which to take. Simply put, the correct steps make you money and the wrongs ones cost you money. We’ve all made bad financial decisions at one point in our lives, hopefully we learn from them. This is no different in the business world. Let us discuss below the things you’ll need for a successful business. Web Presence or your website…

CNC Small Business Tax Deductions

What are Tax Deductions CNC small business tax deductions, is the reduction of taxable income the Federal Government is able to tax you on. This ultimately reduces your tax bill or increases your tax refund. You will accomplish this by itemized deductions that you keep. These deductions are the specific items that relate to your business only. I strongly recommend the use of a  professional Certified Public Account. CNC Small Business Tax Deductions My shop is a sole proprietorship. I speak for my personal situation only and I do employ the services of a professional CPA Firm. Again, hire a professional service to advise you about your cnc small business tax deductions. Below is a list of what I can deduct for my particular situation. Building You need a building in order to house the equipment to operate a business. My shop is separate from my residence, yours may not be.…

CNC Business Income Streams

What’s an Income Stream ? CNC Business Income Streams are your financial sources that keep coming from a product and/or service. The streams created are a benefit to you. Do not rely on only one product or service. When one slows down or dries up, there’s another to fill the void. I’ll discuss with you what my shop does to keep lines of income flowing. CNC Business Income Streams The Little Little Woodshop utilizes multiple income streams. There’s the physical products produced, different services offered, advertising & affiliate programs. I will discuss in detail below for a clearer understanding. Physical products My cnc business income streams relate to my niche products. I start with a few specific items in one category. Each physical product stream takes time so don’t start another until you’ve completed the one before it. Be patient, persevere and drive traffic to it (customers) that want what…

CNC Marketing Strategy

Product Marketing Our CNC Marketing Strategy is the steps required to fabricate, promote and sell products to an equally niche audience. The process starts with large amounts of research. Let’s start with what you are looking to market. Is there even a market for it ? What audience or consumer are you selling to ? What’s the age group for the target audience ? Is it gender specific or will it work for a male & female? How will we get our product to our customers ? Most importantly, what price can it be sold for and can you make a profit? Research Your cnc marketing strategy is based on research. Doing a thorough search before committing to fabrication will save time and money. Remember, larger corporations can’t be competed against. Their purchasing power is out of our league. Face the facts, a company buying 10,000 units to our 10 translates to…

CNC Business Marketing

Steps for promoting yourself In this article I will talk about CNC Business Marketing. Again I can only discuss my personal experiences with what I’ve done. If you choose a different niche, what I discuss here will help you. Results will vary on many factors but work through them and don’t give up. Great visionaries all started somewheres and you’re no different. This is not a get rich discussion, rather steps I’ve taken to achieve small goals. CNC Business Marketing I’ll discuss the 4 most popular ways I market my shop. The first thing I can’t stress enough is to keep it simple. Don’t take on so much that you can’t keep up. You need to crawl before you walk, walk before you run and so on. You’ll do yourself no good if your over burdened and burn out before things start to happen. This personally happened to myself and it…

The Business of CNC

What is cnc ? The business of cnc is in many fabricating fields today. CNC stands for Computer Numeric Control. The process where a computer gives precision commands to a machine. The use of manually controlled levers and handwheels are no more. In today’s cnc systems start to finish component design is done by CAD, discussed below. What is CAD ? CAD stands for Computer-aided design. CAD software, used to design, modify and optimize the design itself. Computer-aided design creates a data base for the programmer, a library of sorts. The CAD software increases productivity and quality in all manufacturing processes. There’s many applications for this software in the business of cnc. Industrial and architectural design, automotive, shipbuilding, aerospace, aircraft, prosthetics and digital content creation. CAD is the language to create a design and CAM is the translator for the specific equipment used. What is CAM ? CAM stands for Computer Aided Manufacturing. CAM’s purpose…

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