How much wealth is enough? How do you get it and keep it? How can you pass it on to future generations? An Aussies thoughts on all these topics and more...

Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Wednesday, 3 October 2007

PickingBabyNames.com

Well, sitting here watching TV I thought I'd check out if KidsNames.com was an available domain name. Turns out it was already taken (no surprise there), but trying out a few variations I came up with PickingBabyNames.com that was available and seems to have potential. So I registered it for one year. Probably another $14.95 down the e-drain, but I imagine it can be used to create an e-Business.

Business Plan
1. Rego domain name - done
2. Collate a list of baby name info - meanings, origins etc.
3. Setup a website with this info organised in various lists
- alphabetical
- by origin/culture
- by most popular
- by "type" - animals, flowers, stones, famous people etc. etc
4. Do SEO. Having the phrase "picking baby names" in the domain name should help it get a good ranking for relevant searches
5. Monetize the site using text link ads and possibly some sponsorship.

Looks easy enough on paper, just requires a lot of hours of "spare" time to implement! Getting the name info shouldn't be a problem as there are a host of "baby name" books and sites out there, all with similar information and no referencing. Therefore it should be easy to create my own baby name database without creating any copyright issues. There's scope for adding features such as mapping mashups, forums etc. but I'll look at the cost-benefit of the extra work if the basic site gets up and running.

We'll see how it pans out. I have lots of other irons in the fire (family, GradDipEd coursework, DFS(FP) coursework) so I may not get around to it. In fact, although I may spend some time fiddling around with it when I'm bored it's unlikely to become the next google - I'm just too lazy to be a great entrepreneur.

There are lots of titles such as the "automatic millionaire" and the "accidental millionaire" already in use - perhaps my epithet should be the "lazy millionaire" or "mediocre millionaire" ;)

Copyright Enough Wealth 2007


Wednesday, 20 June 2007

Getting an Australian Business Number (ABN) for Your Business

DS1 has now gone into business as a sole trader, busking on the weekends and he is planning on growing some potplants (buxus) from clippings in the springtime to sell at the local market. So to make it easy to fill in his tax return we went online to http://abr.gov.au and applied for an Australian Business Number. The entire process in very quick and easy, taking about 10 minutes to complete. There is no fee for applying for a business number and the 11 digit ABN was provided immeditely once we hit the "submit" button. The main benefit of DS1 being self-employed is that under the new Simpler Super rules he can contribute $1000 to his retirement fund each year and will get the $1500 government co-contribution.

Enough Wealth


 
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