This blog is written by Zachary Chalmers (that’s me) under the business name HyperDirect, LLC. If you are new to this blog, you may not know that HyperDirect is a fully insured, registered business in the state of Massachusetts. Since I haven’t done a post about myself or the company recently, I decided today would be a good day to talk about the start of my company. What did the first year of HyperDirect look like?
I started my company on March 18, 2019, using an online service called Incfile. Incfile was great and made it super easy to get everything set up, and I will use them again if I ever register another business. Altogether, I paid $947.00 to register my business through Incfile. This includes the state filing fee ($520), Business License Research Package ($99), Business Address ($29), and the LLC Premium Package ($299).
Now that my business is registered, I just sat back and let the cash flow in… I quickly found out that wasn’t going to work, plus there were still a lot of behind-the-scenes things I had to do. First on my list was getting a Business Checking Account and getting a Business Insurance Policy. I also needed to make sure I had a professional way of contacting my clients, so I had to get myself a few email accounts for myself and my employees. Speaking of my employees, I started the company with two of them, and for some reason, they both wanted to be paid for their work and required me to get a payroll provider.
That covers all of the legally obligated things I had to buy, and I had a bunch of things like hardware and software to buy as well, but let’s talk about income. No one likes to talk about finances, so I’ll make this quick. I did not make a lot. My income for the year 2019 was just under $400 at $399.83. This was a significant disappointment to me but also one that I expected. I’ve heard data stating that most businesses don’t make money until at least the fifth year, but I knew at this point that I was just beginning to experience the losses.
What about things besides the expenses or income? Ignore the financial aspect, what did I really do in my first year of business? Honestly, it was a mess. I did so many things and then repeated the exact same things because I didn’t think it was good enough but also never knew when it was good enough. If I had to put a number to it, I probably remade my website 3 or 4 times. I couldn’t decide what I liked and what I thought would bring in business.
I also really struggled to figure out how to market the brand. I have experience in marketing, but I’ve never started a company from the ground up. Every business I’ve performed marketing work for has already been operating and already had a name for itself. This was different, we were starting from absolute scratch. Truth be told, this aspect of my business is still one of the biggest struggles as we still only have a name within the small group of clients we have.
Speaking of clients, what did my client base look like during my first year? Simple, we had one client, JLS Mailing Services. I’ve mentioned them before, and at this time, they were my only client. As I said in the paragraph above, I was trying to push marketing, but it was quite a struggle. I now wish that I could go back in time and get myself to continue pushing certain avenues just a little bit longer as I feel if I get going, I would’ve achieved more of the results I was looking for.
With all of that said, my first year in business could certainly be looked at as a failure. In total, my company had about $7,000 in expenses and very little in income. I do have an additional $3,000 in as income in my accounting software, but I’m truthfully not sure what that is. I believe it was something added by my accountant that probably made sense to me at the time, but three years later, I don’t remember at all. So, in total, the business lost a net of $3,882.61 in 2019. On that note, I think it’s time that I sign off today. Thank you all for reading, and you can look forward to a potential post in 2024 where I recall my first five years in business. It’s coming faster than I expected, and I’m just along for the ride.