I don’t want to be a millionaire, but all business resources seem to be catered to that mindset small business |
- I don’t want to be a millionaire, but all business resources seem to be catered to that mindset
- Visa & Mastercard Class Action Settlement
- Has anyone turned their business into a franchise?
- 10 Questions Your Start-Up Pitch Must Answer
- Phone system reccommendations
- Healthcare coverage between partners
- Want to start a small business and turn it into a big one, not sure where to start.
- How important are reviews to small business?
- Grill my new B2B business
- Paying back investors
- Question on llc employs
- A better business name than actual business: can I use the name to merge and become a partner to a larger business?
- LLC or Sole Proprietor for selling canned soda?
- Solopreneurs: What are the most painful side business tasks for you?
- Being a nice boss or bossy boss, what is your image? And is KPIs the key of high productivity?
- Online ICF life coach training program?
- Does anyone own a hot shotting business, or know much about the industry?
- Payroll software that handles union benefits
- Should I get custom software built for my business?
- POS system for canadian quickbooks desktop
- Need help finding order/shipping management platform with these criteria:
- Trying to save the small storefronts in my area
- Why The Heck Do Businesses Wait To Get Paid?
| I don’t want to be a millionaire, but all business resources seem to be catered to that mindset Posted: 15 Apr 2019 09:25 PM PDT I just want to make enough to live comfortably. Middle class. I don't want to scale my business to be a national conglomerate making millions of dollars a year. I don't want to manage employees or worry about a board of directors. All the business resources I'm reading don't seem to be catered for people like me though. Is it still possible to get financing if you have no desire of scaling or expanding? Some of these resources make me feel like I'm wrong or crazy for just wanting a proper small business for myself. [link] [comments]  |
| Visa & Mastercard Class Action Settlement Posted: 15 Apr 2019 04:57 PM PDT Anyone else get letters in the mail about this? I have gotten my second notice. Big packet. Seems legit but I dont know anything about it. I once accepted a class action suit and got like $25 for a robocall that got sued. This one explains that Visa and Mastercard overcharged and violated the anti-trust laws. It was decided in the US District Court Estern District of NY. Says its for anyone who accepted CCs from them since 2004. Thoughts? [link] [comments]  |
| Has anyone turned their business into a franchise? Posted: 15 Apr 2019 09:52 PM PDT Someone approached me about turning my business into a franchise. I was intrigued and will be speaking with a lawyer but I want to hear your real-life experiences with this. [link] [comments]  |
| 10 Questions Your Start-Up Pitch Must Answer Posted: 15 Apr 2019 10:04 AM PDT 10 Questions Your Start-Up Pitch Must Answer As the competition for investment capital continues to grow, and your search for funding intensifies, you are faced with the need to put together a strong and compelling pitch that will convince investors to fund your start-up. To improve your chance of winning investors for your start-up, here are 10 questions, each tailored to your idea, that your pitch must answer:
Help your investors to envision the outcome you wish to create. Give them a sense of what the business will be when it succeeds. The alignment of your investors with your vision will greatly influence the decision to dream your dream with you.
Validate the existence of this pain and this audience. Explain how this pain has been addressed in the past. If it is currently being addressed, point to existing solutions and demand that is not being met, and sign-post how you plan to compete in this market.
The presentation of your solution should show how it will resolve the concerns of potential customers. It should also point out how your solution will be an improvement on current solutions, and thereby create a unique offering that is not available in today's market.
Indicate how ripe and accessible the market is for your product or service by addressing the channels you will use to reach your customers.
Outline why you think the time is right for your start-up to enter the market, and why you think it will beat the competition. Share your knowledge of your potential competitors, their strengths, and weaknesses. Say how you will battle entrenched competition or outpace other start-ups. Tell how your unique solution will offer benefit(s) that the competition is not providing and, by so doing, differentiate your start-up in the marketplace.
Layout your plan to create opportunities for growth, by following up your initial offer with similar or different products or services, with a view to creating new revenue streams and extending your brand.
Show how the start-up will achieve an operating profit. Share your assumptions on costs and prices as they are projected to impact your economic value chain. These are projections at this point. Fluency of the numbers and their sensitivity to key assumptions are critical to inspiring confidence in your pitch. Every investor wants to know how much spend will be required in order to expect to make how much money!
Investors want to know if the start-up has, or can assemble, a team to make the enterprise a success. They also want to know the corporate governance structure of the company, and who will head the team.
Provide historical and forward-looking projections, complete with sources and uses of capital, future capital requirements, and future financing plans. Forecast for at least three years. The financial plan is the foundation of your pitch. It tells how you think about your start-up, and signals whether investors should have confidence in you and your business.
Outline the funding history of the start-up: Investors, amounts invested, percentage ownership, present valuations, current capitalisation and proposed structure of the deal. Are you preparing to pitch for your start-up? Do you need help to prepare for it? Let's work with you. Visit the SME Clinic at https://smefinance.org/sme-clinic/ [link] [comments]  |
| Posted: 16 Apr 2019 02:28 AM PDT Hi all, I am working with a small business and we're hoping to change our 'VOIP' phone network. We're currently using Vonage but they've been horrifically unstable. We're only a small firm and the phones should be on 9-5 mon-friday and then an auto assistant will pick up outside of those hours redirecting the calls. Over the weekend Vonage decided to turn off our auto assistant and we returned to the office to find countless missed calls and therefore unhappy customers. We've also had trouble with the phones simply turning off and disconnecting spontaneously for no obvious reason. The Vonage dashboard is horrific to use and, frankly, we're sick of it. Just wondering if anyone else genuinely strong recommendations of online phone system companies (that operate in the UK) which are stable, easy to use, with a good online dashboard and good customer support. Thanks in advance guys, look forward to reading your replies. I'll be active in the comments replying to any questions you might have about my query. [link] [comments]  |
| Healthcare coverage between partners Posted: 16 Apr 2019 02:22 AM PDT My business partner needs much more coverage than I do. $600-800/mo. vs. $250-300/mo. Do you all run into this issue? and if so how do you manage the discrepancy? [link] [comments]  |
| Want to start a small business and turn it into a big one, not sure where to start. Posted: 16 Apr 2019 03:17 AM PDT Hi all, let me lay out my situation here briefly. I'm 24 years old, no debit, have a house, a car, and about 700 dollars in income per month from another house that I'm renting out in Arizona(I live in Colorado btw). I just got married, and I am planning on returning to college soon. I think I can finish college in about 3 years. I was forced to take a break from college due to health issues but those are mostly behind me. Now, here is my dream, I would eventually like to be the owner of a large, multifaceted company involved in video games, comic books, real estate, online retail, and electronics. I have been working on two video games for a few years now but work has halted due to lack of funding. I've also completed two comic books that will be published online on Comixology soon. I've also started fooling around with Shopify just recently and looking at dropshipping. The bottom line is, I don't really know how to proceed. I'm not sure which Major I should go for in college to get the most "bang for my buck" and I don't know which industry I should focus on first to begin building up my business. I'm aware that right now I'm sort of trying to do everything at once, and that probably isn't a great idea, but I don't know which area to focus on. Any advice would be greatly appreciated. I realize Rome wasn't built in a day so I'm willing to play the long game. If it takes 10 or 20 years to accomplish my goal then so be it. [link] [comments]  |
| How important are reviews to small business? Posted: 16 Apr 2019 02:36 AM PDT See above^ Asking as my cousin wants to start a small business and I've told him reviews are the lifeblood of small business and he won't believe me. Why is this such an issue? B/c he thinks he can grow just by throwing money into it and not caring about reviews until much later.... [link] [comments]  |
| Posted: 16 Apr 2019 12:25 AM PDT Miniature businesses (1-5 people) either write their own content (think emails, adverts, blogs, guest blogs) themselves and waste hours a week doing so. When instead, they should be focusing on scaling their business by closing more deals and improving their processes. Or, they gamble their money and pay freelancers to do the writing. Hoping that the quality is good, that they deliver on time, and that they aren't plagiarising from another company. While small businesses (5-10+ people) consider hiring full-time content writers and go through the hassles of interviewing, training, and of course paying $40,000 a year. My solution is to provide you with content in advance. Meaning your content calendar is sorted month after month, without you needing to worry about anything except posting it. Unlike other content creation agencies that charge several hundred a month, we charge several thousand. Instead of hiring writers from non-English speaking countries, we use professional copywriters, SEO specialists, and digital marketers. They have agency experience and understand the industry. But they also have some spare time. These are the people who will be creating your content. So instead of doing all the work yourself, gambling on a freelancer, or hiring a full-time employee -- you work with us on a monthly plan. Get grillin' friends :) [link] [comments]  |
| Posted: 16 Apr 2019 12:24 AM PDT I want to manufacture a kids toy and sell it. Currently I am looking for funding and was wondering how to pay the investors back. My thoughts so far: 1. X % of every sold toy for Y years 2. initial investment + X % of every toy sold 3. „ X% of sales until they get their basis back, and then ratchet it down to Y% moving forward" u/FattyRoyal 4. „Equity, share of company and future profits" u/Citryphus Looking for other options, I am a noob. Thank you! [link] [comments]  |
| Posted: 15 Apr 2019 11:57 PM PDT My brother has a LLC with 1 business (education company)already inside of it but now he has me selling other goods and services (construction business) that is not a formed DBA or llc within this llc as far as I know and recently found out.So what if I want to be a employ does he pay me out of the llc or has to pay me threw the construction business and will it say on my check the name of the construction business. I am very confused on all this as well as frustrated on the lack of structure my brother has.I thought he would do things more properly. I want to be a employ to the construction business and work full time. What does it mean when you get paid and the check has the business name on it rather then the LLC.I would like the construction business to be written on my employ check. [link] [comments]  |
| Posted: 15 Apr 2019 11:53 PM PDT I think this is a fairly straightforward idea, but I'm not sure how to go about solving the problem. Without going into too much detail, my business is in a market that is open and has environmental factors that make our business model optimistic (basically, an indoor vegetable farm in near a large city with a cold climate). So 6 months of the year we have very little competition. As such, we've grown 20% our first year and are projecting another 20-30% this year. I think there's great promise for the LLC to stay fairly small and be profitable (it's all family so everyone works and gets part of the profits). However, the name of the LLC group has so much creative play (meaning, it has good word play, and could easily be applied to other business models whilst retaining cohesion) that I believe it could be utilized more optimally. Is there a road map to negotiate a buy out for a small business, or is this sort of idea only possible for larger businesses? Something where a larger LLC needs our brand (maybe even experience) to take their business to the next level? In this scenario I'd only be interested in a partial partnership and some sort of up front compensation (a buy out, but not really since we'd still be apart of this new LLC). I've been beating my head up against a wall over this idea since we started the farm back in 2018, but I don't have the know how to take the first positive step. Any advice would be much appreciated. [link] [comments]  |
| LLC or Sole Proprietor for selling canned soda? Posted: 15 Apr 2019 03:53 PM PDT I hope I've come to the right place for this advice. I know ultimately it falls on my decision, but earlier today I got an EIN for a Sole Proprietor business so that I could get whole sale pricing on a canned soda product that isn't available in my area. I want to sell them locally to the best of my ability, and I feel as if it shouldn't be any issues, but should I change over to a LLC to protect myself? [link] [comments]  |
| Solopreneurs: What are the most painful side business tasks for you? Posted: 15 Apr 2019 09:41 PM PDT |
| Being a nice boss or bossy boss, what is your image? And is KPIs the key of high productivity? Posted: 15 Apr 2019 10:23 AM PDT My team is about 12 persons. We are at very beginning of business journey. I am trying to being a nice and friendly leader which I think I really am and really want to be (I just don't like the definition of the boss). We are still working well but things seem like not at very good productivity I must say! It just got 50% of my expectation (on hand expectation). I am confused should I using KPIs which will surely make huge impact to the way I run the company now. In the short run, productivity may be improved, but I will/may become a bossy who just looking at people by their KPIs in the long run, that is not a good thing for my. What are your strategy to improve your company productivity and still keep a goos image about yourself for longterm development? P/s: we are video marketing production agency! [link] [comments]  |
| Online ICF life coach training program? Posted: 15 Apr 2019 09:35 PM PDT Hi. Is there a good ICF certified life coach program that is completely online and affordable? I'm looking for a side hustle and think that being a life coach would be great. However, i found that most programs are very expensive and need to be in person (I'm student, so i need something flexible) [link] [comments]  |
| Does anyone own a hot shotting business, or know much about the industry? Posted: 15 Apr 2019 09:07 PM PDT I've been considering dipping my toes into hot shotting, but not sure where to go for laws and regulations around transporting goods, DOT, etc. in the USA. Can anyone point me in the right direction? [link] [comments]  |
| Payroll software that handles union benefits Posted: 15 Apr 2019 01:19 PM PDT Hi Reddit, we're looking for payroll software that can handle union benefits. Each hour that an employee works the get $x for health insurance, $y for their pension, $z for their retirement, and they also have the option of having $2, $4, $6, or $8 an hour deducted from their check and put into a 401k. All of these funds will be sent to the union's 3rd party administrator for handling. [link] [comments]  |
| Should I get custom software built for my business? Posted: 15 Apr 2019 11:00 AM PDT TL;DR: considering getting a small custom app built, have you ever done that and did it go ok? I have a business building and selling custom bikes on Shopify and in person. I have a team of a few different people working for me on and off who gather all the parts to build each bike and then put it all together and send it off to the customer, and the Shopify orders system is starting to fall down for us. It doesn't let me "assign" different orders to specific people and it doesn't really let people mark orders as "in progress" or anything that would let me know if I had to do something about that. I looked around in the Shopify app store and there's a lot of apps for people shipping straightforward products in a warehouse but not much for people building stuff or managing parts that go into things. I was also told to check out Airtable and it looks like it would maybe solve my problem but I am not exactly sure how to hook it up to Shopify and keep it all synced. I also don't want like a big expensive ERP system because I A) don't really know what that is and B) hear they are crazy expensive. I was talking to a developer friend and they suggested that a custom app to sync with Shopify and let me assign stuff to people would solve my problem and probably not be too expensive. Do y'all think building this would be a good idea? Have you gotten apps built in the past? Was it a good experience? What should I make sure to ask about? Is Airtable good enough? Thanks for any help you can give me! [link] [comments]  |
| POS system for canadian quickbooks desktop Posted: 15 Apr 2019 08:24 PM PDT does anyone knoe of a POS that will integrate with canadian quickbooks desktop version? [link] [comments]  |
| Need help finding order/shipping management platform with these criteria: Posted: 15 Apr 2019 07:47 PM PDT I'm looking for a platform similar to ShipStation that manages orders and shipping, but it needs to have per-customer pricing: After negotiating prices for each of the SKUs they want, I want to be able to make a custom link to a web-portal that lists the SKUs they want with their custom pricing. If you know of any platform with these capabilities, please let me know. Thanks. [link] [comments]  |
| Trying to save the small storefronts in my area Posted: 15 Apr 2019 01:39 PM PDT Hi r/smallbusiness, I know this is a bit of a long shot, but I'm soliciting advice from as many different sources as I can. If anyone has any thoughts / ideas / advice, I'm all ears. I live in a neighborhood in Queens, NY called Astoria, and one of local train stations (Astoria BLVD) recently began undergoing repairs, which will take the whole station offline from now until December 2019. For most of the residents it's a major inconvenience, but for several of our local small storefronts, it's a disaster. Some of the pizzarias, cafes, nail salons, dry cleaners, and restaurants that have been a cornerstone in our neighborhood for decades are all reporting huge drops in foot traffic, as you might expect. I've spoken with several of the owners in the area, and all of them are worried they might not survive until December. The residents in our neighborhood loves the shops that make our block, and we'd like to do what we can to help them survive this difficult period. The first and most obvious solution is to spread awareness around our area, such as flyers, imploring neighbors to keep giving these stores the business they need to stay afloat, and I've personally started going to them as much as possible for my shopping, eating, or other needs as often as I can. However I'd like to do even more. One idea I had was to create a small business group for all the owners in the area, so that we could tackle this problem as a team. Since it's an existential threat to all of them, having more people involved would be helpful. However I would also want to go into this with an action plan of what to do next. I believe that small business entrepreneurs such as yourselves are typically some of the more active and creative problem solvers in the business world, and many of you have years of experience surviving all sorts of catastrophes and keeping your companies afloat. I was wondering if anyone here may have any advice for how I can help these stores survive until the train station reopens in December. Perhaps reaching out to a local representative would help? Perhaps there is a small business program for NYC that may apply? Perhaps putting something in the local newspaper? Or maybe we could organize a community event? I'm really all ears. I apologize if this isn't the best place to go for this. I have no experience in community organizing or small business, but I love my neighborhood, and want to do everything I can to help the stores here. If anyone has any thoughts or words of advice I'd appreciate it. [link] [comments]  |
| Why The Heck Do Businesses Wait To Get Paid? Posted: 15 Apr 2019 07:02 PM PDT Pardon the mini-rant but I just don't get it... With electronic payment platforms along with fee recovery technology to eliminate those obnoxious card processing fees, why would I ever wait to get paid for my hard work and just accept accounts receivable as ok? Seriously. That was ok back in Mesopotamian times when there was no way to get paid on the spot. Why should I just adopt old school methods of waiting and then taking the risk, not to mention the collection efforts and cost? Should I be worried that I will lose customers if I don't let them pay me later? Should I just wait for my cash flows because that's how others do it, or was taught that way? Cash produces prosperity, receivables inspire insolvency. If I allow my customers to just pay me later for my completed work, aren't I just disrespecting myself as a business owner? I see too much of this with my fellow businesses owners and it makes me nuts. Today's technologies, especially when integrated with fee recovery apps, allow for electronic payments at little to $0 net cost. I want the power of payments in MY hands, not my customers or the banking industry who often try to dictate how business "should" be paid. Please tell me why so many businesses accept getting paid later, when in reality they all prefer to get paid now? [link] [comments]  |
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