Our bank account has never been so low or our future so bright small business |
- Our bank account has never been so low or our future so bright
- Business credit card charged unauthorized purchase. Bank refused to credit.
- Different prices for different customers for the same products
- I do dropship on Amazon and I have recently launched an LLC in California but Amazon asks me for the utility bills which I don't have anything related to that LLC?
- Is it possible to transfer a facebook ad account from one business manager to another?
- Book keeping - I am finding out after trying for about 4years I am terrible at it
- How to hire first employee
- How to stay motivated during the early phase?
- How do you begin the process of selling a business?
- Learn Business Skills
- Beware domain listing scam
- If you offer health insurance, what percentage or dollar amount do you cover?
- Dissolving a LLC?
- Responding to customer enquiries question
- How to handle fraudulent payment?
- Free shipping or no?
- What better pay by minute or round to nearest quarter hour?
- Can I start operating my business while my DBA filing is pending?
- Software Sales to Electric Power Companies
- Hourly Rate?
- Employee phones?
- Event Planner advice
- Gift idea. Need help with a book reccomendation for a friends growing business
| Our bank account has never been so low or our future so bright Posted: 05 Nov 2018 07:03 PM PST Is what I typed out to my business partner in LA in an email where I was asking to borrow more money from our very generous line of credit. For the first time I couldn't make payroll and began to panic a little. A check went through that I had forgotten about and our already tight situation became that much tighter. A month ago we were riding high but a series of unfortunate events has brought us to this place. Over $15k in unexpected expenses to give you an idea. What did I do? I did what I always do, keep moving. Don't stop and dwell on it. Work every lead, make something happen. If I'm out of leads I go knock on doors. By the end of the day I sold a job I've been working on for 8 months and collected a hefty 50% deposit check that was cleared instantly because it was from the same bank, sometimes you just get luck like that. We also had a check come in the mail I've been waiting on for 30 days. So the day finished with 8x payroll in the bank and the crisis averted. We have more jobs in the pipeline than ever and a hefty amount of invoiced jobs coming our way. So a day that started with complete terror and uncertainty ended up being one of the best days I've had as the President of this company. TLDR; business is cray [link] [comments]  | ||
| Business credit card charged unauthorized purchase. Bank refused to credit. Posted: 05 Nov 2018 02:24 PM PST The end of May there was a charge for $2300 on our business credit card. Did not see this charge until statement arrived in June. Immediately reached out to company who made the charge. Phones were down because of a storm in the area....for at least 4 days.....reached out to my bank Wells Fargo because I was not going to wait any longer for their phones to work again. The bank opened claims, sent me to high dollar desk, sent me to executive office, closed the card and sent me a new one and on and on over the course of several months. During the claim process the charging party provided them with a tracking order for the items we ordered. The FedEx tracking number shows the item was never delivered and returned to them sometime the middle of July (from a charge the end of May mind you). Claim with wells kept getting denied. Finally went in to a branch with a police report and sat with the business banker who after review of all the information provided gave me his word he would resolve the issue because it was so black and white this was not my charge and we received nothing. 3 weeks later I called him and he said it was denied and not to try and reopen this claim ever again.......what?????? Have I gone crazy??? I asked him for some documentation or something in writing as to why this would be denied and he said the letters I was sent previously had the reasons the claim was denied. The only thing these letters stated was that the shipper provided tracking and the claim would be closed as a result. $2300 is not the end of the world but it is a lot of money to lose in to thin air. For nothing! After getting the reply from the business banker I told him I was taking my business elsewhere along with my merchant services.... "I understand, thanks for your business". Is there anything more I can do to get this back? The more time goes by the harder it will be to deal with. Everything feels so shady since this is so easy to investigate. It should also be stated that this is my first ever claim with Wells since I started in 2012. Thank you for any advise or direction you may be able to offer. [link] [comments]  | ||
| Different prices for different customers for the same products Posted: 05 Nov 2018 02:57 PM PST Hello everyone, I'm running a early stage woodwork business. Already i've made some deals at local auction website, which i'm happy. Due to living at eastern part of EU with open markets i'd like to offer my products at etsy or my website in german, french or UK. How would you solve problems with different prices for each nation/market? I don't want to lose my polish customers due to sudden price increase. They can pay like 100 pln (around 20 EUR) for each product The same product is worth like 30-40 EUR at germany or france. I would like to keep this potential profit also. Moreover, i was told to not offer products too cheap. Customers might be suspicious and resign, due to strange price differencies btw my products and other offers. It can suggest lower quality or service. How would you solve that? I thought about different brands, but at early stage it's impossible for me. Do you consider any mistake in different prices btw english, german or french website vs polish, lithuanian or other "not so rich" country? Thanks for your opinions! [link] [comments]  | ||
| Posted: 06 Nov 2018 02:25 AM PST I have an LLC now, and Amazon asks me for my utility bills and business license if applicable, I don't have a business license yet, and I have tried to have it but it will take around 3 weeks to receive and they are asking me for retail number which I don't have this yet either, so is it better to provide them this license or not while I do retail drop shipping business? And, how to solve this utility bill? I don't have any bills related to this company yet, can I provide them with my company's bank statement? [link] [comments]  | ||
| Is it possible to transfer a facebook ad account from one business manager to another? Posted: 06 Nov 2018 01:54 AM PST
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| Book keeping - I am finding out after trying for about 4years I am terrible at it Posted: 05 Nov 2018 08:40 PM PST So I have a project management business with most of income coming in on the form of labor service rendered but with some income from equipment rental. We do ok with gross income around $250k. When I first started the company, I used a book keeping service who generated minimal amount of invoices, reconciled bank accounts, generated P&L at year end. They charged me $500/month. After two years, I felt like I can do what they do on my own as I wasn't really hot on paying $6000/year what seemed like a pretty straight forward thing. However, now I am realizing I am terrible at this. Not sure if this is because I just don't really get how Accounting software works or that I don't really know the basic of book keeping. My account reconciliations are a mess, my income is inaccurate, my liabilities don't make sense..... So tell me my fellow business owners with no accounting background, how do you do it? Do you hire a book keeping service? If so, how much do they charge? Did you take some online courses? I used Quickbooks Online more so because I was using their payroll service already. Is there an easier software to use? I feel totally at a loss. Any suggestion on how I can be better? [link] [comments]  | ||
| Posted: 05 Nov 2018 08:22 PM PST Hi all, I have a small, pre order bakery, and I bake from home under the cottage program. I have been trying to do everything 100% legit (separate bank accounts, QuickBooks, EIN, state taxes set up, etc.). I've been at it for 5 weeks now and we're just blowing up and I need help. I've done some research and found I need to submit W2s; do the e-verify, and report hiring to the state (AZ), as well as get workers comp insurance (starting to wonder if this is all worth it..) and pay social security. Oh and withhold taxes. I guess my questions are- am I missing anything? And can I just pay these employees (2 different people, 5-10 hours a week each) cash and note that under vendors on QuickBooks or do I need to upgrade to the version with payroll and actually do checks? I know I sound like I don't know anything, because I really don't- just learning as I go, so I appreciate any help! [link] [comments]  | ||
| How to stay motivated during the early phase? Posted: 05 Nov 2018 07:32 PM PST Just curious how everybody here stays motivated to keep working on their business during the period of making no money, the novelty of the idea is gone, and are just doing the parts of the business that they don't love (for me, that's the website and the marketing). I know this part takes a while and will be worth it if it all takes off, but it's hard to keep at it when it isn't fun and I worry that the business is just going to go broke before it pans out anyway. [link] [comments]  | ||
| How do you begin the process of selling a business? Posted: 05 Nov 2018 07:25 PM PST I run a medium sized catering company in southern California and I'm looking to get out of the business. It's been in operation since late 2010 but didn't take off fully until late 2014. Currently about 60% of the revenue comes from doing catered events and the other 40% from lunchtime drop offs (to offices, etc). Most of that drop off business comes through 3rd party companies that arrange meals for those offices. I think what I'd be selling is the book of business i.e. my clients, branding, relationships with those aforementioned drop off companies, recipes, techniques, etc. I wouldn't be selling a physical space because we don't own one. All of the equipment I have can also be part of the sale but wouldn't necessarily be the most interesting thing to a potential buyer. As I've been thinking about this I think the most likely buyer would be another catering company looking to expand their client base or a restaurant looking to get into the catering business or more likely looking to expand/start their take out business. My team and I are currently in the process of putting together a sales package (getting our numbers in order) Beyond that, I'm not sure how to start the process. Can I just start cold calling companies and asking if their interested? Is there a best time of year to do it? How do I determine the value so I know where to start with a price? I have so many questions and I'm sure there's a million more I haven't even thought to ask. Any advice or guidance would be much appreciated. [link] [comments]  | ||
| Posted: 05 Nov 2018 06:55 PM PST You can get three free audiobooks from Audible , this is a great way to learn new business skills [link] [comments]  | ||
| Posted: 05 Nov 2018 06:37 PM PST Got a letter in the mail today from Domain Listing. It looked pretty official as if I were paying to retain my domain name. Looked into it and found this article. Hopefully this post will stop someone from getting ripped off by this. [link] [comments]  | ||
| If you offer health insurance, what percentage or dollar amount do you cover? Posted: 05 Nov 2018 06:08 PM PST We're in the process of redoing our entire benefit package to be better and more competitive. We're a 12 person in the surveying and engineering field but growing fast with a solid revenue and profit stream. Located in NY.
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| Posted: 05 Nov 2018 05:55 PM PST Hello, this is my first LLC and I was a initial investor who owned 20 percent of the company but supplied about 75 percent of the money we needed to get the supplies for prototypes. We have a LLC agreement and i have text messages saying he would pay me back 100 percent of my investment by a certain date. I know it was a shitty set up. Didnt really know what I was doing. But now the guy wont respond to my texts and I just want to get some of my money back or at least bring the ship(company) down. He has all the supplies that I paid for, at his address which is the legal mailing address of company. WHAT SHOULD I DO? I really dont want to spend more money on a lawyer or something. thanks [link] [comments]  | ||
| Responding to customer enquiries question Posted: 05 Nov 2018 05:48 PM PST Hi guys, Just launched my small business but have to polish out a few areas - one of which is my email responsiveness. My question: When someone asks a detail about your product (in my case an online course) do you answer the question and ask them one? ie. "Here is the answer to your question... Are you interested in purchasing this today?" Or is this redundant or a bit too eager? [link] [comments]  | ||
| How to handle fraudulent payment? Posted: 05 Nov 2018 05:32 PM PST Long story short our business handles expensive items (turbochargers for the trucking industry) and we recently have had our first truly fraudulent company. We generally take credit cards and checks if it is a repeat customer and we have a relationship. Another option for payment in the trucking industry is something called efs. It is essentially a secure way for truckers to write guaranteed checks. We accepted an efs from a new customer. We went to get an authorization number (requirement to make an efs check cashable) and it doesn't exist. Multiple multiple calls for months to the company and we finally got ahold of the lady who purchased the item. When she answers she pretends to be her daughter and hangs up on us. How do I handle this? Our local county prosecutor can handle bad checks but an efs is a bit different. Is a lawyer my only option? This is for nearly $3000 so it is in the gray area of whether or not it is worth paying my lawyer to chase money that may not exist. [link] [comments]  | ||
| Posted: 05 Nov 2018 05:17 PM PST Hi everyone, Me and my boyfriend have started a small web shop T-shirt business aiming to raise awareness and support for unpopular endangered animals. We've noticed quite a few abandoned carts lately. We are starting to suspect the shipping cost as the culprit and was wondering how to solve the issue. Our profit margin is already quite low, so we won't be able to cover the shipping ourselves. The alternatives as I see them are: * Adding the shipping to the original price (I.e. increase the price of the products) to avoid that nasty added-cost-surprise at check out * Keep the costs separate but try and prevent the surprise element and maybe add some positive nudges at check out. Do any of you have any experience solving a similar issue? What did you learn? Do you know if there is any material/research out there covering the topic? Would be very grateful for any thoughts or help! [link] [comments]  | ||
| What better pay by minute or round to nearest quarter hour? Posted: 05 Nov 2018 05:03 PM PST Currently we use the rounding system. Employees who clock in up to 6 minutes after the hour get rounds down. After 7 minutes it rounds up. So if you supposed to start at 8am and the employee clocks in at 8:05, I still start paying them at 8:00. If they clock in at 8:07 the start getting paid at 8:15. This makes if easier for payroll purposes but some employees this that this is unfair. Should I pay per minute? I tried it out for one pay period and it was a pain to do. [link] [comments]  | ||
| Can I start operating my business while my DBA filing is pending? Posted: 05 Nov 2018 04:58 PM PST I submitted my Certificate of Assumed Name (DBA) about a day ago and didn't realize it can take up to 4 weeks for the filing receipt to come back. Is it safe to start operating now under my fictitious name, but then invoice clients through my legal LLC name? [link] [comments]  | ||
| Software Sales to Electric Power Companies Posted: 05 Nov 2018 12:12 PM PST Hi--my company develops control center software for electric power companies. We are in the real-time analysis area. I was wondering if anyone here has experience working with electric power companies? Been having trouble getting in with the right people (to find out what kind of SW would help their everyday lives). Also, having trouble with pricing. I feel we are too cheap but don't know how much we can go. Pricing for competitors is not public information. [link] [comments]  | ||
| Posted: 05 Nov 2018 03:35 PM PST The company (small business) I am about to inherent uses an hourly rate to charge the customer for a job (it is a sandblasting and painting company). It is not very correct to say the least. These rates lose money sometimes. I am trying to find a way to calculate a rate for sandblasting and one for painting. I tried adding all of the expenses from last year plus the total salary and dividing by the amount of working hours per year. Should I also be dividing by the amount of workers? This could be a wrong way of thinking about it but that's all I got so far. Any help/resources appreciated. Thanks. [link] [comments]  | ||
| Posted: 05 Nov 2018 09:00 AM PST Hi all, how are you handling your remote/field employee phones? Do they use their personal cell phones, or are you providing a company phone & number? I'm trying to decide what the best solution is for my small business. I have 3 sales reps and I want them to have a dedicated line for work related calls... How are you approaching this problem? I tried using grasshopper but it's cumbersome, unreliable, and unanswered calls go to their personal voicemail. Is google voice a viable option at all? Here are my main goals: - Employee needs to be able to easily identify work-related calls. - If unanswered, calls go to dedicate voicemail instead of forwarding to their personal voicemail - Should be able to see what number is calling - Send/receive texts All of these can be achieved with a dedicated phone/line, but they'll have to carry a second phone which is a bit cumbersome. Is there a software solution that they can install on their smartphones? [link] [comments]  | ||
| Posted: 05 Nov 2018 12:59 PM PST Hello everyone! So I've been planning to start an event planning business mostly focused on weddings. I have 4 years of experience,as I am a conference center coordinator, in events from weddings, corporate events and conventions. I have testimonials and have already made a contract, brochure and pricing list. What is the best way for me to go about marketing? I was thinking of connecting with wedding venues and telling them if they mentioned me Id put them on my preferred vendors list same for photographers, Dis and so forth also do I need a business license to event plan? I live in Indiana USA and I can't find any information on if I have to or not. Thank you! [link] [comments]  | ||
| Gift idea. Need help with a book reccomendation for a friends growing business Posted: 05 Nov 2018 12:46 PM PST Hello everyone, with the Christmas season coming up, I like to get my shopping out of the way early. My one friend opened a business this year, and I want to get him a book to better understand the intricacies of business, getting clients, and manageable growth. He works on a contract base if that helps. Is there any book you read that REALLY helped you? Thank you in advance [link] [comments]  |
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