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I think he also cheated by opening a bank account and incorporating. That's overkill at the stage he's at, but it gives the impression of "making progress", whi

I think he also cheated by opening a bank account and incorporating. That's overkill at the stage he's at, but it gives the impression of "making progress", which surely impressed his readers. I should know, I designed http://fairsoftware.net http://fairsoftware.net to prove that you don't need a corporation or even a bank account to build successful multi-founder software startups. And this guy is alone, so even less of a reason to waste money.

andrewtj 17y ago
How would he takes payments without a bank account? http://fairsoftware.net http://fairsoftware.net gives me a 503 at the moment.
- alain94040 17y ago
  The way a virtual company works: customer -> virtualcompany host (fairsoftware in my example) -> personal account This way, the end user has a business relationship with the virtual company host, shielding the entrepreneur, but the entrepreneur stills earns money as an independent contractor of the virtual company host. To me, the best of both worlds (but I'm biased). It beats opening a merchant account, that's for sure. PS: no 503 for me...
bootload 17y ago
"... I think he also cheated by opening a bank account and incorporating. That's overkill at the stage he's at ..." I'd normally agree, but I think you have limited understanding of what is going on. "... Working from his car, he was repeatedly frustrated by having to write down his mileages in a logbook, a logbook which would then be misplaced, lost and chewed by the dog. Logs would be jotted down on the back of receipts, discarded wrappers or scrap paper. Ultimately he wasn’t recording every business trip and he was therefore unable to claim the most he could come tax time.... it had wide appeal – 7 million Australians claim work related expenses each year on their tax returns. ..." ~ http://www.semi-blog.com/2010/01/startup-in-7-days-day-one-the-idea-research/ http://www.semi-blog.com/2010/01/startup-in-7-days-day-one-t... The requirement is for tax deductions, to use the service probably numerous requirements under Australian law. Hence the licensing of business and bank account. I noticed the - "registered software provider" by the Australian Tax Office (ATO) so ~ http://ato.gov.au/ http://ato.gov.au/ This isn't just a website but a system that hooks into the ATO Electronic Commerce interface (ECI) as a Business Activity Service (BAS) has statutory requirements: certificates, Australian Business Numbers (ABN) ~ http://ato.gov.au/onlineservices/content.asp?doc=/content/00107880.htm http://ato.gov.au/onlineservices/content.asp?doc=/content/00...

andrewtj 17y ago

How would he takes payments without a bank account? http://fairsoftware.net http://fairsoftware.net gives me a 503 at the moment.

alain94040 17y ago
The way a virtual company works: customer -> virtualcompany host (fairsoftware in my example) -> personal account This way, the end user has a business relationship with the virtual company host, shielding the entrepreneur, but the entrepreneur stills earns money as an independent contractor of the virtual company host. To me, the best of both worlds (but I'm biased). It beats opening a merchant account, that's for sure. PS: no 503 for me...

bootload 17y ago

"... I think he also cheated by opening a bank account and incorporating. That's overkill at the stage he's at ..." I'd normally agree, but I think you have limited understanding of what is going on. "... Working from his car, he was repeatedly frustrated by having to write down his mileages in a logbook, a logbook which would then be misplaced, lost and chewed by the dog. Logs would be jotted down on the back of receipts, discarded wrappers or scrap paper. Ultimately he wasn’t recording every business trip and he was therefore unable to claim the most he could come tax time.... it had wide appeal – 7 million Australians claim work related expenses each year on their tax returns. ..." ~ http://www.semi-blog.com/2010/01/startup-in-7-days-day-one-the-idea-research/ http://www.semi-blog.com/2010/01/startup-in-7-days-day-one-t... The requirement is for tax deductions, to use the service probably numerous requirements under Australian law. Hence the licensing of business and bank account. I noticed the - "registered software provider" by the Australian Tax Office (ATO) so ~ http://ato.gov.au/ http://ato.gov.au/ This isn't just a website but a system that hooks into the ATO Electronic Commerce interface (ECI) as a Business Activity Service (BAS) has statutory requirements: certificates, Australian Business Numbers (ABN) ~ http://ato.gov.au/onlineservices/content.asp?doc=/content/00107880.htm http://ato.gov.au/onlineservices/content.asp?doc=/content/00...