This is like a kick start plan, in that we have set a deadline of August 30, 2013 to sell at least 240 of the 600 available Units, or everyone gets their money back. None of the funds raised through the sale of Unit subscriptions will be spent or utilized until 240 Units have been sold; they will remain in the partnership's capital account until then. 240 Units would provide $24,000.oo of the $60,000.00 we are seeking, and I consider $24,000 the minimum needed to initiate the business plan. If I can't initiate the business plan, then it's not worth losing any shares of my firm. If we can't sell 240 Units by August 30 then we are obviously doing something wrong, and we will refund the full subscription price of every unit sold, and reconsider our plans.
It took until Friday afternoon to get all the paperwork finalized for the partnership registration and the opening of the new business accounts at the bank, so we'll get started on seeking investors in earnest on Monday. I've sold a few Units to people I know, but we haven't made a big push yet.
I have a good business plan, and we are going to be very profitable if it is initiated. So far, my publishing has provided a steadily growing second income. Last year was my best year by far, doubling the sales of the year before, even without all the marketing actions that I'd hoped to take.
I'm still in Calgary Canada, which is an expensive place to live in and to hire in. Last year I invested as much as I could into my publishing business, and hired an employee in the Philippines to work for me online, since I couldn't afford to hire someone qualified here in Calgary. We got a lot of work done for the money, but it wasn't quite enough to take the business to the next level.
The modest investment of $60,000.oo in total that I'm seeking, on the advice of my business adviser, will pay for more employees and contractors, and for new marketing measures like exhibiting at sci-fi conventions and publishing conventions, it will cover our operating budget for one year, and it will allow me to move to the Philippines. That will drastically reduce my cost of living, and allow me to work directly with my employees in person, to build a strong team, and to greatly increase our efficiency and effectiveness. They will officially remain outsourced contractors working for a Canadian owned and operated business.
When the business plan is enacted I will play three roles in the firm; the Managing General Partner and majority owner of the firm, an employee as publisher and editor with a very modest salary, and an author with the same author's publishing contract that all our authors will be offered.
We will soon grow by continuing to release new works in our existing ongoing series, by releasing books in new genres, and by signing new authors to our publishing firm.
To receive all the details, email me at wec.publishing@gmail.com, and I'll send you our business plan and partnership agreement.