CodeTailor
Tailor-made software development and consultancy
I've been freelancing as a Fullstack Web Developer for almost 20 years, and for the last few of them I've been thinking more seriously about incorporating.
Today was finally the day I went down to the records office and registered my company - CodeTailor is born.
Sitting there in the records office, with butterflies in my stomach, and many doubts in my mind, was one of most stressful moments of my life. But I know that it was one of the best decisions I ever made, and that it will have a positive impact overall.
I'm very grateful that my family supports me 100% on this decision, and that gives me the strength I need to overcome the many obstacles that are surely going to surface in my way.
I've been creating and maintaining software for my freelancing clients for a long time, it was time I made it official and present myself as an actual company.
I will be creating the company's website and media kit in the next few days, so that I can start working full gas in 2021.
CodeTailor will focus on creating awesome tailor-made web apps, websites, dashboards, SaaS, APIs, integrations, automation, mobile apps, etc. If you can name it, we can build it.
We will also provide consultancy services to companies that are building or planning to build amazing software, providing them with a clear path to reach their goal faster, with less FUD, improving their OKRs and lowering their TCO.
We will bring digital transformation, workflow optimization and automation to emerging and growing companies, to help them compete in the marketplace.
I say "we" because I'm building a team, I've got my plate full with current clients, and I'm going to need help fulfilling this mission.
I've been a "lurker" here on IH for a long time, but know it's my time to take action!
Cheers
17 Comments
whoa! kill it!
Thank you!
Ricardo, congrats. This is a big big step in the right direction.
I too recently filed paperwork for incorporation this past week. My situation was slightly different as I moved across state lines and decided to re-incorporate instead of being a foreign entity. One thing I've learned is that while it can be a lot more work in the form of accounting and paperwork it is ultimately worth it because as a business, you can build either an investable or sellable asset.
My next recommended step for you (or any entrepreneur starting out) is to pick up Profit First by Mike Michalowicz and see if that system makes sense to you for cashflow and comp out of the business. Most importantly, start to have the business benefit you instead of you sacrificing to benefit the business.
Hey @kadedworkin, thank you the kind words.
Congrats on your re-incorporation.
It is a big step, and hopefully in the right direction.
There will be a lot more paperwork and accounting, I know, but as you said it will be worth it to have an asset that I can invest or rely on for me and for my family.
As a freelancer I definitely had to constantly think about what I could sacrifice to keep the work going, so I hope you're right about having the company benefit me instead of the other way around.
I'm in the middle of Lean Startup, but I'll add Profit First to the reading list, thank you for the recommendation.
Cheers!
Thanks for the prompt reply Ricardo. Sounds like a good move in the right direction. The experience knowledge you get from mentors can be very valuable.
Did you use Atlas or FirstBase to set up the US entity?
Thank you!
I didn't actually set up a US entity, I registered the company in my country (Portugal).
In the future, if it makes sense, I'll open a branch overseas.
Ah I see, my bad I thought it was in the US :) Makes sense to open a bank account. How are the tax rates in Portugal?
Good luck!
Thank you!
Hey @ricardonunesdev congrats on the incorporation.
If you don't mind me asking, did you incorporate because of a business decision? Reason I ask is because when freelancers work with smaller clients, the clients don't mind it but when freelancers work with bigger clients they expect invoices and contracts to come from the freelancers as a company.
Incorporation is great but along with a whole set of corporate paper management responsibilities. It's all a great learning curve and when you create your company it will be easy peasy :)
Look forward to seeing your website. Have a good weekend.
Hey @Nakkeeran, I don't mind the question at all, thank you for asking it.
The main reason I decided to incorporate was to build a team to help me with the growing number of clients and projects, that are eating into my personal time (i'm basically working 12-16h everyday).
I started with small clients but I'm working on some larger projects for bigger clients. I know they'll be happy that I'm making this decision and that I'm building a team that will ultimately help them get more work done with quicker turnarounds.
Incorporating is a huge step with a lot of management responsibilities, but I'm grateful to have 3 very close mentors with a lot of business experience that are willing to help me through this learning process.
I'll let you know when the website is online ;-)
Cheers and have a good weekend too.
What nudged you into this decision?
Basically, I have my plate full with current freelancing clients, and I need to build a team to help me with larger projects. I also want to protect my personal assets from business liabilities, and separate my personal life from the company.
Congrats
Thank you!
Wow, big step! Congrats!
Thank you!