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    Sunday, May 6, 2018

    Potential employee doesn't want to be paid in dollars, they want to be paid in product @ cost per hour... small business

    Potential employee doesn't want to be paid in dollars, they want to be paid in product @ cost per hour... small business


    Potential employee doesn't want to be paid in dollars, they want to be paid in product @ cost per hour...

    Posted: 05 May 2018 07:04 AM PDT

    So, I had an interesting interview with a potential employee. That employee doesn't want to be paid in dollars, whether on a 1099 or W2, he/she wants to be paid in the product we sell (at cost of course). For easy numbers, product cost = $10 and product retail = $20. He/she would like to be paid 2 units @ cost an hour. He/she made it seem like they have worked in this situation before.

    I won't be accepting this proposition.

    I've never had this before and obviously there are legal and financial risks involved.

    1. Has anyone else has been in this situation before? What did you do?

    2. Hypothetically, what are the legal implications of this situation?

    submitted by /u/JackDalgren
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    Looking for project check-in buddy to stay on track

    Posted: 05 May 2018 09:48 PM PDT

    Would be great to have a check-in buddy as we each work on our respective projects. I'm trying to start a property management company. We could bounce ideas off each other and stay somewhat accountable as we try to get our projects going.

    Web dev with b2b marketing experience here. If you'd like to connect, send a message with what you're working on?

    submitted by /u/arfobeat
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    Which of these would be the best name for my tutoring business?

    Posted: 05 May 2018 07:15 PM PDT

    One-On-One Tutoring (let's parents know right away their child will be getting indivudalized attention not group setting)

    Space Tutors (have a space theme)

    Private Tutor Academy (sounds fancy)

    Einstein Tutors (bc who doesn't like Einstein)

    After School Tutoring (to the point)

    Eureka! Tutoring (historical, aha moment)

    Nerd Academy (something cute/funny)

    submitted by /u/johnnylogic
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    Which name would be best for my tutoring company?

    Posted: 05 May 2018 06:28 PM PDT

    One-On-One Tutoring (let's parents know right away their child will be getting indivudalized attention not group setting)

    Space Tutors (have a space theme)

    Private Tutor Academy (sounds fancy)

    Einstein Tutors (bc who doesn't like Einstein)

    After School Tutoring (to the point)

    Eureka! Tutoring (historical, aha moment)

    Nerd Academy (something cute/funny)

    submitted by /u/johnnylogic
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    Was just offered a chance to start my own small business with full financial backing, not sure what to do.

    Posted: 05 May 2018 12:46 PM PDT

    So full disclosure, I have never wanted to own or start a small business. I worked most of my adult life (I'm 31) for small companies, I have seen most of them fail, relationships ruined, people losing everything they own because a business failed. I have never had an desire to be my own boss, I have always been ok with just collecting a paycheck and letting someone else make all the decisions. That being said I have extensive knowledge and training of how to run a small business through some of my previous jobs. My wife works for this pretty successful real estate broker and they got to talking about me and what I wanted to do with my life. From what I understand one thing led to another and the boss told her that she wanted to fund an ice cream shop, basically be the silent partner and fund everything, and have me run the actual shop and make the day to day decisions and everything. I've already talked to my wife about this and her opinion is that I am essentially afraid to succeed or afraid to push myself. I can think of about a million different reasons why this will never work, and I feel like if I'm not sold out to this idea then ultimately I will let it fail, whether consciously or subconsciously. So if you have made it this far any ideas? Tips? Gut reactions? Advice?

    submitted by /u/psycopuppy
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    Restaurant software

    Posted: 05 May 2018 06:33 AM PDT

    Hi all,

    I have a bistro and am currently using ikentoo to manage my inventory and ordering systems however they charge a monthly fee and a per device fee. I'd love to have multiple devices (perhaps even on phones) to place orders however the additional device fees are ridiculously high. Any recommendations on other systems?

    Thanks!

    submitted by /u/Zan0
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    How to build an online platform

    Posted: 05 May 2018 08:33 AM PDT

    So I want to build an online site that works as a platform, something similar to what Shopify offers. So the project will be an online shop where customers can buy products as usual. But aside from that, I want to offer the possibility to people to put their own products on site and made them available for future customers. Something similar to what second-hand online stores offer(eg. Ebay). The differece is that i'm focusing on one niche and on specific customers.

    So my question is, should I build it using online tools such as Wordpress or I should start form 0 and hire a developer, and if so, what would be the prices? Also, if anyone is interested to collaborate, PM me! Thanks!

    submitted by /u/australopitecul
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    I want to acquire a small business (>$1.5M of cash flow)

    Posted: 05 May 2018 11:22 AM PDT

    I am seeking to source, acquire and help operate/professionalize/grow a small business. I am 29 years old w/ background in finance. Below are a few additional notes.

    Can anyone share any relevant experiences or advice? Best industries to target? Fundraising tips (bank loan and potentially equity)? Common pitfalls? Value expectations? Helpful resources?


    Sourcing: Target ideas from brokers, investment banks and direct outreach to private owners

    Financial Criteria: $5m+ revenue; $1.5m+ cash flow, 10%+ EBITDA margins, limited capex

    Industries: Fragmented, niche industries; growing markets; low cyclicality; low external risk factors; ideally light manufacturing, services or consumer

    Location: U.S.

    Situation: Opportunity to professionalize / grow business (i.e. absentee owner seeking to retire). Ideally, there is a successor who could take on leadership position and I would support company w/ strategic initiatives to fuel growth

    Funding: Bank loan + seller note + equity (family friends and/or potential institutional / family office)

    submitted by /u/senorfidelcashflow
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    My small side business is blog about books (reviews and summaries of books that I'm reading) - I need some advices how to scale it up

    Posted: 05 May 2018 09:25 AM PDT

    http://imeducatingmyself.com

    Not usual niche, project that I sawso far, but I have decided last year to start writing about books that I was reading. I was looking to made some side income, but it was difficult to scale the blog. I know my options for advertising, but the problem is the cost of advertising and ROI. Since I'm mostly promoting cheap books, using AdWords, Facebook Ads it's really expensive.

    I'm looking for some advices and tips on how to gain some traffic and also if anything need to be improved on site also.

    submitted by /u/almirla
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    Inventory software

    Posted: 05 May 2018 09:03 AM PDT

    Hi there,

    I started working for a small business and we are having some major inventory issues. The inventory counts are always wrong in the system and they always have to delay projects because we don't have the item in stock.

    We are currently using Quickbooks but most of the staff hate it. I'm not sure if it's a lack of knowledge or what but I was curious ...

    What inventory software or methods are you using?

    We have a wide variety of small items, possibly over 2000 different parts.

    Any advice is appreciated.

    submitted by /u/WhiteMeheecana
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    Non-profit wanting to be able to auto-bill without liability of holding credit card info

    Posted: 05 May 2018 08:37 AM PDT

    I have a friend that runs a non-profit that provides counseling. Some clients have requested that there be a way that their credit card could just get billed automatically after each session ('pull' payment rather than 'push'). I found this site that lists a few options. Does anyone have any input on what would be the best choice?

    Obviously, it would be very easy to just write down the credit card number and charge it each session, but they're not comfortable with holding people's credit card numbers. And counseling sessions aren't always at regular intervals, so the recurring payment couldn't be truly automatic. The non-profit would need to 'pull' after each session.

    submitted by /u/Cyclone__Power
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    Online payroll services

    Posted: 05 May 2018 06:41 AM PDT

    Anyone using and online service for payroll? Who do you use and do you like it? Our TPA does it but they are jacking up the rates for all services they have so we are shopping.

    submitted by /u/ih8hdmi
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    Advice please for research

    Posted: 05 May 2018 03:25 AM PDT

    Hello all, I am a researcher in a Psychology department in the UK (Liverpool). I have been trying to promote to small businesses a piece of research focused around personality and a concept called social capital (how invested people feel towards an organisation they belong to). I have managed to collect data from 150 plus individuals but this source is drying up and have tried to promote the study to forums. I have explained that I can also collect other information from employees for business owners to better understand how supported their staff feel and how satisfied they are but this approach isn't working. The mods here suggested that I could ask advice from you all on how best to recruit SME's to ask their staff to take part. For further information I have stated the following when communicating previously: 1. The study has passed ethics and the research data will not be used for any other purpose 2. I will work with SME's owners on developing measures that can support their company.

    Thanks for any advice in advance, Julienne

    submitted by /u/mcgeouj
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    Possible to start a brick and motar business part time? (ie while still working a full time job)

    Posted: 04 May 2018 11:59 PM PDT

    I'm sub-ed both here and on r/entrepreneur, and it seems like the consensus there is that you should only quit your day job when your product has traction, is making a profit, etc. However, I'm keenly aware that most of the people there are doing online businesses and so this makes sense.

    I'm planning to start a fitness studio (think spin classes), but I'm on contract with my current job until the end of this year. Current plan is to wait till I'm unemployed to get the "major" stuff rolling (eg signing a lease, employing people), while in the mean time I'm working on the business plan, market research, planning, etc. But also wondering if I could either start the major stuff earlier while I'm still drawing salary, or alternatively extending my contract even as I get the shop running.

    Would like to know if anyone has tried running your own b&m while holding another full time job. How did it work out? Or any other experience to share would be much appreciated.

    Thanks in advance.

    submitted by /u/thoughtihadanacct
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    Are you a merchant or business owner? Developing a lightning fast payment processor with minimal fees and need some quick feedback!

    Posted: 04 May 2018 10:52 PM PDT

    Hello, we're currently developing a payment processor and wanted to poll fellow and future merchants and business owners to see what kind of pricing structure is preferred.

    This is a survey, with 5 questions, it will take 1-2 minutes to complete. All feedback is extremely valuable and we greatly appreciate anyone who takes the time to help us out. You do not have to be a merchant to participate, but that is our target audience.

    If you'd like to help out, please take the survey here (safe link, from google forms): https://goo.gl/forms/3WVPrgsdSOOm9Bp13

    All results are given anonymously (I won't know which answers you specifically chose) and this data will only be used to further development of our own product. Thank you for your time!

    Cheers

    submitted by /u/qatliquor
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    If my incorporating name doesn't fit the 'distinctive term' requirement by definition, is there a way around this?

    Posted: 04 May 2018 08:55 PM PDT

    For example, companies like Sears, Apple, Google, FedEx, don't have any descriptive terms about their business. Can I just put in the full name into Nuans?

    submitted by /u/VentureBull
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