- Impact
- 899
Hello everyone,
Going through life changes and need some advice. As of today, I officially lost my primary job of 29 years due to the changes made from the COVID Pandemic. I have been reselling domains for the last few years as a hobby and trying to make a little money. Sold a few domains and currently hold about 180 domains. During my last few months of being laid off and working from home, I set up an Efty Marketplace on one of my domains Best/Domains/Direct.com. Even though I haven't had any good leads from the site and landing pages yet, Efty has been helpful in getting me organized and realize that I was spending more than I had thought on my "hobby" and need to be more proactive on having this pay for itself. That is why I set up the Efty marketplace so I can market it on some social media and have a more cost-effective method to sell. With my current debt load, 1 kid in college, and another getting ready to go in about a year, I do not have the option to do domaining only; however, I would like to continue doing it to supplement my income.
Where I need some advice is as to when I need to set up an official business? Can I just continue to do this under my name or do I need to set up an official business? Any advice is appreciated.
Thank you,
Mlebo.
Going through life changes and need some advice. As of today, I officially lost my primary job of 29 years due to the changes made from the COVID Pandemic. I have been reselling domains for the last few years as a hobby and trying to make a little money. Sold a few domains and currently hold about 180 domains. During my last few months of being laid off and working from home, I set up an Efty Marketplace on one of my domains Best/Domains/Direct.com. Even though I haven't had any good leads from the site and landing pages yet, Efty has been helpful in getting me organized and realize that I was spending more than I had thought on my "hobby" and need to be more proactive on having this pay for itself. That is why I set up the Efty marketplace so I can market it on some social media and have a more cost-effective method to sell. With my current debt load, 1 kid in college, and another getting ready to go in about a year, I do not have the option to do domaining only; however, I would like to continue doing it to supplement my income.
Where I need some advice is as to when I need to set up an official business? Can I just continue to do this under my name or do I need to set up an official business? Any advice is appreciated.
Thank you,
Mlebo.