Help. I have to raise my biggest customer’s rate. small business |
- Help. I have to raise my biggest customer’s rate.
- Starting a specialty coffee shop.
- book keeping app with mileage tracker
- 50 startups that will boom in 2018
- Selling Wedding Vows? (X-Post r/sales)
- Should I take over my fathers business if I’m not passionate about it?
- Things Smart People Never Say In Public
- SMALL BUSINESS REGULATIONS
- At a crossroads - give up or run myself into the ground?
- How do I reach Instagram Influencers or Bloggers?
- UK Business Structuring
- High School Small Business Owner Looking For Advice
- Looking to connect with someone in the Merchant Services field
- Does anybody have any suggestions for a good place to buy leads?
- Big following - don’t know how to turn it into money
- Ex-employee orders from vendor as me
- Have a few questions and I don’t know where to ask. So I’m here.
- Converting Employee From W-2 to 1099
- Am I overthinking this whole thing??
- Best method for wiring b2b funds with different banks, minimal/no transaction fees?
- Having trouble taking the next step - Brand Activations
| Help. I have to raise my biggest customer’s rate. Posted: 08 Mar 2018 10:33 PM PST Throwaway for obvious reasons. I didn't expect this to be a wall of text, but it is what it is. I own a small web development agency that will be 5 years old in November. Three years ago, we landed a project that was game-changing for us. At the time, our market rate was $130/Hour, which they paid on a T&M basis every month. Things were great and it was the healthiest my business has ever been. After a year of working with them, they approached me about buying hours in bulk upfront in exchange for a discount. We agreed on a 10% discount, which brought their rate down to $117/Hour. We got a huge influx of cash and everything was great. Thankfully, my business has grown a lot since that deal was made. Fast-forward three years and our market rate is now $250/Hour. But we're still signing deals with this customer for $117/Hour. In 2017, they accounted for 33% of our total revenue but used 53% of my resources. We are functionally living paycheck-to-paycheck, waiting on the next bulk payment from this customer. Not only have my margins shrunk significantly since we signed the first deal, every new potential project that comes in is met with the question, "how do we take on this work while we still fulfill our obligations to them?" What was once our most profitable customer has now crippled my business. I'm not trying to raise their rate to $250/Hour, but I do want to increase it to something that makes sense for everyone involved. How do I do that without losing their business altogether? [link] [comments]  |
| Starting a specialty coffee shop. Posted: 08 Mar 2018 02:24 PM PST I am decently far along in the process, have a location and just got approved for parking and zoning so i can finally submit plans and start a build out soon. Has anyone done a cafe? What tips would you give? Can I pick your brain? [link] [comments]  |
| book keeping app with mileage tracker Posted: 08 Mar 2018 04:26 PM PST Hey guys I am a lawn care/landscaper in Canada and am looking for accounting software/app that allows me to track all my expenses and be able to send to my account come tax season (maybe that would be considered more bookkeeping?) I have an app called Veryfi which looks awesome, and even has a mileage tracker for driving, but currently their app is optimized for Iphone and I am an Android user. Their premium service works out to 15$ per month What are you all using? I am mainly looking for something to upload receipts to, track my mileage, and also track my business bank account so that it is all in one place and of course needs to integrate into popular accounting software like Xero or Quickbook so that I can just send it all to my accountant This Veryfi app claims to have the android version of the mileage tracker up and running in 3 months from now but I can't wait that long. Spring is around the corner! thanks [link] [comments]  |
| 50 startups that will boom in 2018 Posted: 09 Mar 2018 03:34 AM PST Business Insider has presented the list of the best startups at the beginning of 2018. As we can see from this article such a business model as the online marketplace is really working! Take some time to get acquainted with new successful projects and get closer to starting your business: http://www.businessinsider.com/50-startups-to-boom-in-2018-according-to-vcs-2017-11 [link] [comments]  |
| Selling Wedding Vows? (X-Post r/sales) Posted: 08 Mar 2018 05:31 PM PST Hey everyone, My fiancee founded a wedding vow writing service called XO Juliet (xojuliet.com). And things have been going pretty well, we were featured in a few blog posts and the biggest wedding magazine (Brides). The business has been doing relatively well and continuing to grow. Our profits are growing month over month but we are not where we want to be. We want to make sure our sales strategy is on point with wedding season around the corner. My question to you would be how should we reach our target customer besides advertising? We did a couple of Facebook Ads that had great engagement but did not result in any sales. So far, all of our services have been purchased by brides, I believe that grooms will be a huge market as well but we are struggling to reach them. We believe our prices are fair and reasonable and have been complimented by several people for it. There is only one other competitor and it was a side project for them and everyone that we have been in contact with says our service is great and unique! I strongly believe that we have solved a unique problem I just want to ensure a strong sales strategy going forward. Thanks for all the help! [link] [comments]  |
| Should I take over my fathers business if I’m not passionate about it? Posted: 08 Mar 2018 11:58 AM PST Hello this is the first time I've posted on here so go easy on me, so my father started his business about 14 years ago (we manufacture custom wood doors) and well my dad is starting to get older and he kinda wants me to take over. I would love to but the thing is he never really showed me how to run it, I've worked other jobs so I know how to deal with customers, I've helped him deliver doors and install them and so on but he's never really showed me how to sell them. I've always had ideas for the business but he never wanted to do anything about them. The main thing is I'm not really passionate about the business like he is. So I guess what I'm asking is should I try to take it over or should I pursue something else? [link] [comments]  |
| Things Smart People Never Say In Public Posted: 09 Mar 2018 02:06 AM PST Have you ever had a conversation and said something that you immediately regret? It's happened to the best of us at one point or another, but the Smart people choose their words wisely.
The words that come out of our mouths can be interpreted in four ways: positive, negative, neutral, or unclear. Smart people and emotionally mature folks tend to speak in a deliberate, transparent manner; crafting their words to minimize a negative or enigmatic response. To avoid the dreaded thoughts and feelings that accompany an impulsive, erratic string of words, it helps to have a basic understanding of things not to say in public. Here Are 10 Things That Smart People Never Say: 1. "That's not fair." : I hate to be the bearer of bad news, but life isn't fair. Saying a phrase similar to "That's not fair! " makes you appear immature and whiny. Perhaps what happened is not fair; it may even be an egregious injustice. The thing to remember is that people surrounding us are often unaware of the "incident," and even if they are privy to the scenario, proclaiming "It's not fair" does absolutely nothing to solve the problem. Instead of complaining when things don't go their way, intelligent people want to know exactly what went wrong so that they can make the proper adjustments in order to prevent future mistakes or misunderstandings. 2. "It's not my fault." : It's never a good idea to cast blame. Even if it had been minimal involvement, you still had a role to play. As such, you also shoulder the blame. If not, offer an objective, dispassionate explanation of what happened. The moment you start pointing fingers is the moment people start seeing you as someone who lacks accountability for their actions. Instead of pointing fingers and throwing others under the bus, intelligent people hold themselves, and their teams, accountable. 3. "I'll try." : I will try..." There are no three words in the English language that are more deceptive, both to the person who says them and the person who hears them. People who say "I will try" have given themselves permission to fail. No matter what happens, they can always claim that they "tried". If you're asked to do something, either commit to doing it or offer an alternative, but don't say that you'll try because it sounds like you won't try all that hard. 4. "I can't." : Saying I can't suggest that you're not willing to do what it takes to get the job done. Instead of saying what you can't do, say what you can do. For example, instead of "I can't run those numbers," say "I don't yet know how to run that type of analysis. Is there someone who can show me so that I can do it on my own next time?" 5. "It is what is." : There may be a certain zen feeling with this statement, but an intelligent person would never say it out loud since it translates to "I have nothing to add to this situation," "I don't know how to fix this problem." Intelligent people don't back down from a challenge. They thrive on making the world better. They use their problem-solving skills and innovative thinking to face problems head-on. And, they never accept something for what it is. 6. "He's a jerk." : There is no upside to making a disparaging remark about a colleague. If your remark is exact, everybody already knows it, so there's no need to point it out. If your remark is inaccurate, you're the one who ends up looking like a jerk. There will always be rude or incompetent people in any workplace, and chances are that everyone knows who they are. 7. "As I've said before." : This phrase implies that you're insulted for having to repeat yourself, or that you're somehow "better" in some way than the recipient. To be fair, repeating the same thing over and over again to the same person is frustrating. Refrain from verbalizing this frustration, and attempt to clarify what you're saying. 8. "This will only take a minute." : Saying that something only takes a minute undermines your skills and gives the impression that you rush through tasks. Unless you're literally going to complete the task in 60 seconds, feel free to say that it won't take long, but don't make it sound as though the task can be completed any sooner than it can actually be finished. 9. "I give up." : Saying "I give up," is seemingly harmless, it is an affirmation that we're incapable of overcoming something in front of us. Maybe it's a terrible boss, a difficult assignment/project, a disdainful co-worker, or any countless number of things. Remember you are much stronger and smarter than you think. There is absolutely nothing that you cannot overcome. "I can do this" are the only words you need. 10. "That's not in my job description." : If your boss asks you to do something that you feel is inappropriate for your position, the best move is to complete the task eagerly. This often sarcastic phrase makes you sound as though you're only willing to do the bare minimum required to keep getting a paycheck, which is a bad thing if you like job security. Later, schedule a conversation with your boss and it also enables you and your boss to develop a long-term understanding of what you should and shouldn't be doing. What other phrases should be on this list? Please share your thoughts in the comments section below. [link] [comments]  |
| Posted: 09 Mar 2018 12:53 AM PST In what ways are heavy amounts of business regulations on small business beneficial? (in general or specifically, in California) [link] [comments]  |
| At a crossroads - give up or run myself into the ground? Posted: 08 Mar 2018 10:05 AM PST Hey everyone, Throwaway since some of my real-life friends know my reddit account and I haven't talked about this with any of them. I'll try not to let this become a rant, but I'm at a loss for what to do. About three years ago I started my business. It's a fitness & self-defense gym. It started slowly with no real growth for the first year but things picked up after that and things were looking up. I realized no one really cared about the fitness side and only about the self-defense, so I focused in on that. It kept growing, and then shit happened. The past 4-ish months have just been hell. I lost several clients in succession due to various factors - if it was me they didn't say it. Two left because of injuries sustained elsewhere, some left because of work, I lost a couple because of scheduling conflicts, etc. Combined with the fact that I haven't been able to pick up any new clients and I'm in a financial bind. I burnt up all my extra money trying to advertise but that hasn't worked. I've read a lot of blogs about marketing to try and do it myself but they either weren't really useful for my market or just left me confused still. I'm the problem and I know it. I have another job but I don't make enough to do anything other than to barely cover the bills, and some recent unexpected bills have me sweating now. This all brings me to my current predicament: I'm seriously considering throwing in the towel. I don't know how to effectively market or advertise my business and I don't have the cash to pay someone. I don't want to quit because it's been enjoyable and I love the clients I do have - and I feel like I have the potential to grow. Plus, I would feel terrible having to tell the clients I do still have we're closing up shop, but at the same time I don't think I can keep going at this rate. At the highest, I had 26 clients. Right now I only have 17, and I need 25 for the business to not cost me money. Do I ride the storm and keep trying? Do I give up and close? How does one really know when it's time to quit? And when you do quit, how do you deal with the social repercussions? I feel like a damn teenager because people always ask about it and say it's so cool that I'm doing this but I don't have it in me to tell them that I'm really struggling. On the flip side, does anyone who has had ruts like this and been in a financial bind have any advice for me to dig myself out? Is there anything I can do to save this? [link] [comments]  |
| How do I reach Instagram Influencers or Bloggers? Posted: 08 Mar 2018 09:15 AM PST How do I provide value to an Instagram influencer or blogger so they want to highlight my products? Is giving them free samples enough or do they expect more? [link] [comments]  |
| Posted: 08 Mar 2018 11:51 PM PST Hi, I have a problem with structuring and particularly VAT. I have a t-shirt brand with one friend its LTD company and VAT Registered. I do the printing and the online marketing website design side and he does the actual designs. I also have another friend who wants to have this set up he wants to have his own brand and partner with me to do the online and printing. He could just pay me to do the site and printing but he would own all the rights to this business and if I built the brand up for him he would still own all of this. But if I start a different business with him to do the same as the other are we automatically needed to register for VAT as I am involved and running a similar business to the other. To further this question if I wanted to do my own brand as separate business to the other two how would I go about that? Can you own shares in peoples business if they register it in their name and work for all of them if there doing the same thing? Or does this look like your just trying to avoid VAT. Any help would be great! [link] [comments]  |
| High School Small Business Owner Looking For Advice Posted: 08 Mar 2018 10:26 AM PST Hello r/smallbusiness! I'm a junior in high school who is looking for some advice in running an online store. I started the store about a month ago and I sell funky socks. I started the business in attempt to build toward a better future for myself and because I have a great appreciation for crazy socks. I've had great success selling the socks in person to various people I encounter, but have had little to no success in selling online. I'm looking for any advice regarding expansion online and generating exposure. Along with general business tips to help with the running of the business. Some background on the products themselves: I am simply a reseller at the moment. I get the socks from a west coast seller and have limited regional competition in terms of the socks that are available. I'm not sure how much region comes into play regarding online business, but that limited regional competition is something I potentially have going for me. I'd be glad to answer any questions people have and I'm open to all advice and criticism from anyone. Sorry for any errors in my writing I'm writing this on mobile [link] [comments]  |
| Looking to connect with someone in the Merchant Services field Posted: 08 Mar 2018 05:30 PM PST I work in the b2b market, and I have found a very powerful tool to help me with my prospecting efforts. I'd like to learn more about how merchant service providers gain new clients, and what a new client is worth to them ($), to see if this service would be beneficial to that industry. Let's talk! [link] [comments]  |
| Does anybody have any suggestions for a good place to buy leads? Posted: 08 Mar 2018 06:43 PM PST I'm looking for leads (phone numbers/emails) for cold calling and email campaigns. Any suggestions? [link] [comments]  |
| Big following - don’t know how to turn it into money Posted: 08 Mar 2018 02:35 PM PST I started a Facebook page several years ago and have now built up a large but modest following of 1.1 million followers. I average around 10-30k likes per post and have a reach of 5-10 millions people a week. I've never known how to make money from this though. Is it possible to monetise something like this? Any advice would be appreciated! [link] [comments]  |
| Ex-employee orders from vendor as me Posted: 08 Mar 2018 04:53 PM PST I have an issue where my vendors don't typically do any verification before allowing an order. One employee in particular constantly is ordering products from my vendors under my accounts to get my discount and not pay sales tax. He pays with his own credit card. Besides the annoyance of this, am I on the hook for sales tax on those items? I confronted him and he's insisting that I am not liable because it's on his credit card not mine. I'm not convinced. [link] [comments]  |
| Have a few questions and I don’t know where to ask. So I’m here. Posted: 08 Mar 2018 04:24 PM PST I have been doing independent contracts for awhile now. I have a guy who pays me a good amount and have a few others who are ok. I want to look for my own clients so I can be boss. Anyways, I have an EIN. I'm thinking of filling for an LLC just to protect myself and my business. For those who recently took the plunge, how did you start and what steps did you take? I want to do it all myself at first (paperwork and fillings) but if you guys think I should LegalZoom or any third party. Let me know who you used and for what steps? [link] [comments]  |
| Converting Employee From W-2 to 1099 Posted: 08 Mar 2018 03:31 PM PST Hi Reddit, Asking for a friend's business in California. Basically the situation is this: Basically the employee put in their 2 weeks notice, citing too much pressure as the main reason. This employee has been employed for 5 or 6 years had two main roles, call it role A and role B. My friend can handle role B (operations type work), but role A encompasses a large project is something primarily the employee handled and no one can really take over. My friend wants to retain the employee as a 1099 contractor for a few months so the project can be finished. The employee would relinquish role B responsibilities and just handle role A. Terms would be a fixed monthly payment, employee would work from home, without regular business hours. Some meetings would be onsite, but the project would be the main deliverable, with no other practical restrictions. The employee has agreed. I was wondering what would be needed? It seems like this is a commonly occurring thing in businesses. Main steps I imagine: 1) Accept the letter of resignation. 2) Draw a new 1099 and have both parties sign. (Are there standard forms for this?) 3) Assuming the employee is does not qualify for UI considering this circumstance. Is it as easier as this? Do we need to find an lawyer? [link] [comments]  |
| Am I overthinking this whole thing?? Posted: 08 Mar 2018 03:20 PM PST Ok so I watch a lot of shows like Shark Tank and The Profit, I've been thinking of products and services for a long time now and doing as much research as possible. I haven't taken the plunge yet but is it really as easy as it seems? Take Flex Watches for example, they were on an episode of The Profit, they sell silicone watches in a variety of colors, each color watch represents a charity that they contribute to. For example if you buy the pink watch they donate 10% to breast cancer, blue watch they donate 10% to protecting the ocean, etc… Anyway, the whole time watching this show I was trying to figure out how they made the watches or who made them for them. Then I learned about Alibaba. I did a search on there for silicone watches and sure enough the exact watch was on there with another logo printed on it. I mean I do understand basic business, buy something for less and sell it for more then marketing, marketing and more marketing. But what about patenting? Flex obviously don't hold a patent on a silicone watch, so technically I could buy the same watches, throw my logo on them and hope I can market them better? I get they have a good cause with their donations and its made them somewhat of a lifestyle brand but does this hold true for other products? So lets say I want to sell Chapstick or lip balm.. There's probably some company that makes it in the US and has their own brand. Can someone technically buy Lip balm containers from China in bulk, brand it right and make money? I guess I don't understand the Patent issue. A friend of mine works for a company that sells book lights for reading in the dark. She says they make a ton of money but does no one own the patent for a book light? Do they own the patent for their own design, because I see their product, then go to Alibaba and the same type of light is for sale in bulk from Alibaba. Are they getting there product from there and branding it or making it here?? This might be business 101 for some of you but maybe I just don't get it… I know you need to find a product and make it better, but what's the rules? Thanks for any info [link] [comments]  |
| Best method for wiring b2b funds with different banks, minimal/no transaction fees? Posted: 08 Mar 2018 09:47 AM PST A small business partner of ours owes us a small amount ($100-200) and is ready to send it to us. However, we use different banks, so there would be a wire transfer fee that is quite substantial relative to the actual amount being sent. What would you recommend as the best alternative? Am I overthinking this - can I simply make a paypal for our business? Get them to mail a check? I'm new to entrepreneurship, pardon me if it's obvious. [link] [comments]  |
| Having trouble taking the next step - Brand Activations Posted: 08 Mar 2018 12:50 PM PST Hello everyone, Quick introduction: I'm leading a team of developers, which specializes in building embedded applications as well as custom-made hardware and software brand experience. Our projects are mostly used for brand activations, and we are currently based in Eastern Europe. So far we've finalized 16 projects in areas with RFID, AR technology, mobile-to-kiosk experience, Kinect and so on... We've been doing this for the last 2 years and we're quite confident in our technical skills. We work very hard on each project from start to finish and put that work as our top priority. Our problem is the next step. We wish to grow as a team/organisation and find more serious clients. My question is: Where exactly could we find more serious clients that would benefit from brand activations, and more importantly, how do we approach them? So far we have done it through e-mail but we're not so sure about larger companies that receive those kinds of e-mails every day. We would appreciate any advice/suggestion that you have for us. Best regards, PrinceSolutions team [link] [comments]  |
| You are subscribed to email updates from smallbusiness: Starting, owning and growing a small business. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment