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    Wednesday, March 7, 2018

    Ditch the hourly rate? small business

    Ditch the hourly rate? small business


    Ditch the hourly rate?

    Posted: 06 Mar 2018 02:42 PM PST

    I'm just on the edge here because I absolutely hate hourly rates. I think that the world would be a better place if we abolished the hourly rate - birds would sing more sweetly, dogs and cats would get along and we'd all get a beach front vacation property.

    Seriously though, I tell all of my clients to ditch the hourly and I want to know what you think.

    Here is why I say ditch the hourly:

    1. Hourly rates are demeaning - I hear people say things like "I'm not worth X amount of money" or "I'm worth X amount of money" and it makes me cringe. How you spend your time makes up who you are - and you can't help but wrap your self-worth into your hourly rate. Well, guess what - Your value as a human is more than a price tag can reflect! So, don't charge what you are worth - charge based on the value your provide.

    2. Hourly rates put you at odds with your clients - Your client instinctively wants the highest quality for the least amount of time - and you want food on the table and maybe - just maybe - a vacation every once-in-a-while. So you want different things immediately.

    3. It doesn't work - when you talk about hours and processes you don't inspire people to purchase. So selling is more difficult. When you do sell the service, you and your client are constantly nickel-and-diming each other. So keeping a client is more difficult.

    4. It doesn't reflect the value you provide - If something takes you five minutes because you are talented, but makes a huge difference in the bottom line of your client - is it fair for you to only charge for five minutes? On the other side, if it takes you 10 hours to do something that should take 5 minutes because you are incompetent - is it fair to your client to be charged for 10 hours when it should be 5 minutes? Assuming that the quality is the same - the value of the service didn't change, but the price did. So, hourly actually encourages incompetence and a poor job.

    The better solution, in my opinion, is to build and sell packages based around getting an ultimate result.

    What do you think? Are you pro or anti hourly?

    BTW - I knowing I'm being a bit extreme here, but seriously most professionals would benefit from making the switch.

    submitted by /u/CraigSev
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    Did you stumble into your small business or brainstorm many ideas and go after one?

    Posted: 06 Mar 2018 05:56 PM PST

    Hi All, I have a lot of 'entrepreneurial' energy. I want to work for myself and throw all my time and energy into one thing. I'm just not sure what that thing is yet.

    Wondering what all your stories are from when you started out.

    (And no, I'm not waiting for a sure thing. 'Waiting' isn't even the correct word)

    submitted by /u/FrankFisk
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    How do I start?

    Posted: 06 Mar 2018 09:44 PM PST

    Title says it all. I wanna start an online business but I have absolutely no clue on how to start, like where to go to actually create the business or any good online tools to create my site.

    submitted by /u/Hollow-Lord
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    Looking for a team scheduling tool

    Posted: 06 Mar 2018 05:40 PM PST

    Okay Reddit Hivemind, I have services team at my company that installs and supports equipment. Ideally, I'd like to get some kind of tool, where I can send the customer a link they can log in and pick a few days sometime in the future to do their install and it will block out days where no service tech's are available. The only part that might make it a little tricky is not all techs have the same skills. e.g. Tech 1 can work on issues A,B and C while Tech 2 can do B, C and D and Tech 3 can do D and A. Is there any sort of web bases software as a service app you have had success with for this kind of management issue?

    submitted by /u/KingMe87
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    SBA 7a loan - Is 7% a rip-off for closing costs ?

    Posted: 06 Mar 2018 01:40 PM PST

    Working with an SBA lender who has quoted 7% total for closing costs for a small five figure amount. Is this reasonable or are we getting ripped off ? Any other business owners here who can add some perspective if they went through SBA loan ?

    submitted by /u/yc01
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    Can you open a bar a commercial lease space labeled as 'retail'?

    Posted: 06 Mar 2018 08:51 PM PST

    Exactly as the the says. Sorry if this is a dumb question, but would the space need to be classified a certain way, or is 'retail' a catch-all?

    submitted by /u/ikwaa
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    How did you set up your business (LLC, s-corp, etc) and why did you do it like that?

    Posted: 06 Mar 2018 12:14 PM PST

    I am trying to figure out the best way to set up my event planning/catering business. I would be the only employee.

    I have been researching the best way to go about this, but would love your advise/experience.

    Thank you!

    submitted by /u/Divinelife1
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    Freelancing for the first time. How much do I charge a family friend?

    Posted: 06 Mar 2018 05:15 AM PST

    I am a mid-20s senior marketing analyst in Atlanta. My father-in-law's best friend (who lives in New England) approached me this past weekend knowing what I do and asked me about social media marketing. Having previously worked in social media strategy, I'm definitely able to help him. I also relayed that social media is only one medium that I work with and that I do analytics on a variety of marketing channels.

    After talking he came to the conclusion that he wanted to hire me for an analytics audit (web, social, email) and then start me out doing social marketing on a regular but light touch (couple hours a week) basis and go from there. We're planning on talking later today to discuss more details including pay.

    I'm really excited as I've been wanting a side gig for a while and this is perfect. The family friend is a great guy, not a mooched, and his business is legit - my wife and I have actually attended one of the events his company puts on.

    The thing is, I have no idea what to charge him. When I was a social marketer, I made $50k ($25 an hour) and now as a marketing analyst, I make $70k ($35 an hour). I know consulting rates normally start around double your salaried hourly rate. But having never done a negotiation before on freelancing, I have no idea what's reasonable. I actually really want to get some side cash running, so I don't want to scare him away by quoting $60 an hour (since the work is a blend of analytics and social marketing). He operates a small business so the scale of work isn't huge. We're not talking consulting for some multinational or well-known company.

    Part of me just wants to start out saying "well, my hourly rate based on my salary is $35. Let's start there." Any advice is much appreciated!

    submitted by /u/Deray22
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    Is there a difference between r/smallbusiness and r/entrepreneur.

    Posted: 06 Mar 2018 06:31 AM PST

    Lately I've seen an uptick of posts about starting a business. I thought r/smallbusiness was for businesses that were established, if not what is the right subreddit? I like to talk to established businesses that go on reddit for help with their daily problems.

    submitted by /u/acedelaf
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    Fees or restrictions for providing an international service?

    Posted: 06 Mar 2018 04:58 PM PST

    Without going into too many details, I'll soon be launching a website that provides a store-locator like map for businesses to advertise on. I'm based in the United States, but there is no functional reason to limit my clients to the US. Do I need to be wary of any rules or restrictions with allowing foreign businesses to pay for my service?

    submitted by /u/jrobthehuman
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    What's the best way to grow relationships with other small businesses? Any with personal experiences they want to share?

    Posted: 06 Mar 2018 07:32 AM PST

    I'm building up a photography\videography business and I would like to develop strong relationships with a few businesses in the area. Places like beauty salons, barbershops, florists, event planners, etc. Basically businesses that would have clients who may need photography services. How do I start up relationships with those kind of establishments and more importantly how can I make the relationship beneficial for all involved?

    If this is something you are currently doing, do you mind sharing the backstory?

    submitted by /u/QuantumGolem
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    Need recommendations for organizing week long bookings/rentals

    Posted: 06 Mar 2018 12:09 PM PST

    Hey community! Long time listener, first time caller

    So my small business gets a few high value products for 1-2 weeks at a time, so we can can review and create a media for the manufacturer.

    How would you guys go about organizing what products we've had,have and will get in the future? I'm hoping for some kind of cloud based week long calendar scheduling software. Where I enter the product and manufacture information and have the ability to zoom out and visually see where we might have heavier work loads or overlaps from multiple products, or where scheduling gaps might occur

    Currently we are managing this by making an appointment on google calendars, on the day of arrival with notes of the who, what and when. But we are finding it hard to visualize the scheduling

    Any ideas or suggestions!?

    submitted by /u/Lackofnam3
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    Is there a market for freelance personal assistants?

    Posted: 06 Mar 2018 07:36 AM PST

    Thinking about offering services as a freelance personal assistant and driver. I came up with the idea after I discovered I was too young to drive for Uber or Lyft (both require drivers to be 21, so I have to wait a few more months).

    Personal driving services would targeted for either business people and/or the elderly. Would include airport transport. Clients could book my services for hours at a time.

    The personal assistant thing is something I would like to add. Clients would book me for hours at a time. I would handle task such as house sitting, pet sitting, errand running, grocery shopping, making appointments, help with doctor visits or even school to home transportation for kids.

    I want it to be a personal experience. I wouldn't have many clients at a time. 3-5 max at a time so I could devote as much time as possible to loyal clients who trust me with assisting them.

    Edit: I would use a rental car. Executive class.

    submitted by /u/Gtj_2036
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    Almost finishing my website, need help with T&C page!

    Posted: 06 Mar 2018 03:06 PM PST

    Hi everyone,

    I'm a student and I'm developing a website to sell to a small local business, I'll be the one who will update the website and doing all the stuff if they need/want.

    My BIG question is: How do I do the Terms and Conditions page? How did you guys did it?

    Since I'm in Europe I know I have to disclose that the website uses cookies, but what else do I need to put there? How do I do such page? Is it ok if I just use a sample text?

    The website has no user login sections, only facebook feed, so i'm guessing I don't need "Terms of Privacy", correct?

    Small business owners with websites, please help me!!

    submitted by /u/Spnhix
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    VAT rate

    Posted: 06 Mar 2018 03:01 PM PST

    Hi! I would like to start a new topic in my business to sell clothing to EU customers, and by that, I'm not sure how does the VAT work. If I'm paying VAT rate to the delivery company because the vat is included in their price, so that means I still have to pay a vat rate? If yes, and I'm 50% sure that delivery company won't pay my vat rate via using their service (but still better to ask and be 100% sure), but if that won't count as paying vat rate, how and where shall I pay it? If that will help my business sells vintage clothing in a nutshell second-hand clothing

    submitted by /u/damiaaneq
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    Has anyone bought TV adverts direct with TV stations in the UK?

    Posted: 06 Mar 2018 02:21 PM PST

    Basically, I have over 8 years TV buying experience agency side, and wondered how it worked with businesses booking direct with the TV stations.

    I'm interested to know how this works, and whether you optimise the TV spots that the stations provide or just take what they give you.

    I'm currently setting up a website that's sole aim is to help small businesses who don't have an agency get the most out of their TV airtime, whether this be looking at what programming indexes we'll for their audience, or just general advice on spot quality.

    I'd charge a fixed fee (so no agency commission) for a full airtime report with a breakdown of quality, estimated reach and specific advice on what programming works well and what to request from the stations to improve the value of your campaign.

    It's very early stages and probably not explained very well but It would be great to see if anyone here feels a service like this would be of use to them.

    Thanks!

    submitted by /u/liam1170000
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    Square v. PayPal v. ???

    Posted: 06 Mar 2018 02:21 PM PST

    I like Square Pay, but the reader is wretched. Aside from the frequent need for multiple swipes, it looks like like an illegal card skimmer. I'm not about to buy an iPad and the fancy mounting kit just to look a bit less skeevy, so I'm looking for alternatives.

    PayPal's payment system supports a rather nice keypad device, but my attempts to sign up seemed to involve an awful lot of paperwork and hassle - Square just dumps to my bank account. That said, I'll gladly do the forms if it means better sales.

    Any thoughts on a better solution?

    submitted by /u/jrshaul
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    How do business owners determine whether buying a machine will be a good or bad investment?

    Posted: 06 Mar 2018 02:18 PM PST

    There must be a ton of factors. I am trying to deduce whether buying an $85k waterjet machine makes sense or not to buy. Is there a formula or set of guidelines that business owners use or refer to when they measure whether or not the benefit will outweigh the cost?

    submitted by /u/BillyBricks
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    Struggling to choose the right freelancer? Your experience can make this choice easier next time!

    Posted: 06 Mar 2018 01:36 PM PST

    Are you struggling to decide on a "perfect" web developer for your project? You can choose from a bunch of freelancers but every one of them lacks something others might have. Maybe it is a poor communication or high prices.

    Your experience can help making this choice a lot easier next time. Please take a minute to answer to these four quick questions. It will help provide a better service next time you need one.

    https://mariojuretic.typeform.com/to/Vp9oqt

    submitted by /u/mariojuretic
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    Commercial / restaurant soap dispensers?

    Posted: 06 Mar 2018 07:38 AM PST

    Anyone have any experience with dispensers? I'm looking for utility / price.

    From my research it looks like once you buy a dispenser, you're pretty much locked into buying their refill. My confusion comes to whether the refill is actually a good rate or not.

    Georgia-Pacific has a popular product, and here is their refill. Any advice or insight is appreciated.

    submitted by /u/reddpicsfan
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    Any Document Management Systems (DMS) You Recommend?

    Posted: 06 Mar 2018 09:45 AM PST

    Looking for recommendations to help organize my documents better.

    Mostly version control, easy search, and some sorta metadata such as name/email, category, other tags.

    Don't really have a need for automated flows.

    Typical use case:

    100 people send me a document for review. I tag them with email/name.
    I review all of them, put tags on them (Reject/Accept/Inprogress).
    Accepted ones I copy to a new folder (maintain tags).
    Make edits to in progress files (keep track of versioning).

    If someone emails me asking about status I can search by email/name. Or if I need to contact them I have info via metadata on file.

    submitted by /u/faet
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    POLL:How much do you pay for services?

    Posted: 06 Mar 2018 05:50 AM PST

    Heyo,

    Long time lurker first time poster.... Through my lurking periods I've seen people mention what they pay for certain services, many times I'm baffled and wondering if I'm just looking for services in the wrong places.

    Can the r/smallbusiness community post what they pay for...

    Web development Social media management Accounting services IT And other relevant services.

    Please include locale and scope. Also please include how often you pay and any other factors that will effect billing.

    submitted by /u/Mindingmiownbiz
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    I've been building a market research website and currently only do research on publicly listed companies. I'm exploring doing private company valuations as well, most notably for business owners looking to sell their company.

    Posted: 06 Mar 2018 03:23 PM PST

    What would it take me to win over the trust of small business owner? What would make you choose this (definitely) cheaper alternative, (because I'm a college student looking to get more experience) over the standard accountant? If I can't, probably best for me to just stick with publicly listed companies haha

    submitted by /u/DanielFok
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