WTF Capital One? Closing my Spark Visa account... small business |
- WTF Capital One? Closing my Spark Visa account...
- Do losses in LLC with S Corp and one owner/employee affect personal income taxes?
- Shipping customer pays or you?
- Anyone in the wedding industry- what is your opinion on bridal shows?
- Awful Experience With Customer: How Do You Let It Go?
- Setting up an LTD and business bank account in the UK.
- Switching from square
- forming competitive advantage?
- Simple Biz. Overwhelmed By Payroll & Acct Options. Help Please!
- Advertising in a very crowded/competitive market
- How much profit SHOULD you pay yourself? (spreadsheet calculator)
- New Business POS Inventory Issue
- Tick tock for advertising?
- What is a good wave accounting alternative? with invoicing would be great.
- What to use for B2B payment processing?
- Any experience with Brandable Box (formerly Zen Box)?
- Business Brainstorming Help
- How to market music to Canadians
- What is the State of Dropshipping in Late 2019?
- Reselling patented products in a different "assembly"
- Startup Onboarding Templates
- Can I do real estate photos without starting a business?
- Business Idea Brainstorming Guidance, Tools, and Validity
- live Q/A from a B2B Marketing agency owner, in the lead generation niche. Questions welcome!
| WTF Capital One? Closing my Spark Visa account... Posted: 26 Oct 2019 07:57 AM PDT I have had a Capital One Business Spark card for 7 years. It is my company's go to card, multiple employees have cards. We buy advertising, office supplies, shipping, inventory, pay bills, etc. with it. We have an 80k limit and spend about that much each month, paying it off fully each month. I just got a letter from Capital One saying they are closing my account because "the charges you make are high cost transactions". WTF! They advertise this card all the time on TV about how much cashback businesses get, and you should use it on everything. I use the card like they advertise and they close my account?! I can get other 2% CB cards, but I really liked how easy this card was, and it is setup as my default pay for everything. And setting employee cards up was super easy too. I've been a customer for so long and I have always paid on time being what I thought a perfect customer. I have a solid credit score. I guess not carrying a balance and getting the 2% was something they didn't want to do anymore with me. Blows my mind that they advertise to use the card on all your business expenses. They tell you to pay off your card. Then they cancel my card for doing what I have been told to do. Sorry, fuming a bit over this. I am leaving town needing to pack for a family trip and now need to get new credit cards for my employees. Edit: Here is the letter: https://photos.smugmug.com/photos/i-5sBMc5v/0/42a49f7b/L/i-5sBMc5v-L.jpg Edit 2: Spark card commercial: https://youtu.be/4kXVahR41Ps [link] [comments]  |
| Do losses in LLC with S Corp and one owner/employee affect personal income taxes? Posted: 26 Oct 2019 10:31 PM PDT I make income through my business, an LLC with S Corp of which I am the only owner right now. Besides I also make income through a W2 employment. My spouse also has W2 income. If I incur loss in my business, can the loss be used against the income me and my spouse make when filing personal taxes? Last few years the business made profits. This year I will incur loss, especially if I go ahead with a plan I have which will lead to upfront expenses/investments (which will hopefully help the business in the future). [link] [comments]  |
| Shipping customer pays or you? Posted: 27 Oct 2019 03:39 AM PDT Hello , I am starting an online business (Smoke Shop) and I am about to launch with our first few products. I know very little about shipping but my website will calculate the shipping based off my height, length, width, and weight. I have been racking my mind and stressing to figure out the best method to sell these products with adding the shipping cost. I feel like I should leave it as the customer pays shipping and focus on giving quality product but this is stuck in the back of my head. Please any stories or methods you use or have used would be very helpful. Thank you for your time and efforts. [link] [comments]  |
| Anyone in the wedding industry- what is your opinion on bridal shows? Posted: 26 Oct 2019 07:39 PM PDT I'm curious about your experiences at bridal shows! How successful, expensive, or waste of a time was it? And if you're willing to share - what do you sell, where was your bridal show, and would you do it again? I sell 100% online but I am close enough to several large cities and am entertaining signing up. From my perspective it seems expensive- not just the table fee, but all the freebies (especially since I sell a handmade product). I'd love to hear anyone's experience! [link] [comments]  |
| Awful Experience With Customer: How Do You Let It Go? Posted: 26 Oct 2019 08:20 PM PDT In over 15 years of retail, today was absolutely one of the worst. I had a customer that, in hindsight, was probably deliberately being demanding and obtuse but in the moment I was focused on being as apologetic and compensatory as possible. Nothing I said or did made the situation any better, to the point that it escalated so much that I had a panic attack and almost had to call an ambulance because I couldn't breath (No, it wasn't an over-reaction: I was alone, with over 25 customers in line for food service, and the customer in question was simply not relenting. The space where I work does not allow me privacy when I'm "on the floor" so there was no way to "escape" and take a moment for myself. When I couldn't unleash the fight or flight energy, that's when the panic attack set in. This has never happened to me before, usually I handle stressors like this very well.) I am the owner. I had the right to throw her out. But she knew me by name and we live in a small community, so on some level this was a "local" and I figured she may have been a teacher of mine or some other known customer that I simply didn't recognize. So I didn't want to simply tell her to fuck off and leave. And, as mentioned, I was also very busy so I didn't want to escalate the scene and potentially embarrass myself in front of so many other good customers. In hindsight, I shouldn't have followed my intuition and instead just asked her to leave when she demanded a refund. Several other good customers asked me later why I didn't throw her out. So I've got 20/20 perspective on that. But my real question is: How do I let it go and move on? I keep replaying the incident in my head, trying to understand what I did wrong and how I offended her so I can improve my customer service abilities. But honestly I don't want to dwell on it any longer. I just want to go to sleep. But I can't stop thinking about it and replaying. How do you cope with things like this? How did you learn to "move on and let it go"? [link] [comments]  |
| Setting up an LTD and business bank account in the UK. Posted: 27 Oct 2019 03:45 AM PDT Hello, Anyone could provide me help with how to do and what it would take to register an LTD in the UK? I am a Non-UK citizen from Europe. I've read many confronting information on this subject and got quotes ranging from 12-1500 USD. I have registered business in my country and my accountant helped me to get everything done, but she can't help in the UK. I would like to have an LTD registered and get a business bank account as well. I'd like to manage it overseas. Is this even possible? Do i have to fly there? Are these registry agencies reliable? Anyone can offer a good one? I thought long about it and i believe it would help to make my customers to trust my services more if i established it there. Thank you for anyone who has any info or advice on this! Much appreciated! [link] [comments]  |
| Posted: 26 Oct 2019 03:25 PM PDT I'm sure most of you know square is raising their rates. Do any of you have an opinion on clover vs toast? We're a pretty small brewery, but our sales are enough that square would give us a better rate (based on average transaction and based on total card sales) but when we called they denied us both times. Either way, the new rates with clover or toast would be better than the % + 10 cents square is going to. I'm not super excited to be getting all new hardware, and we'll be going from square terminals to the handheld and one pos when we switch. I'm open to read any and all experiences, or if there's something else you think I should look into I will for sure. [link] [comments]  |
| forming competitive advantage? Posted: 26 Oct 2019 10:46 PM PDT What is it look like to form a competitive advantage in terms of crafting things that a company does well and forming an advantage with it? [link] [comments]  |
| Simple Biz. Overwhelmed By Payroll & Acct Options. Help Please! Posted: 26 Oct 2019 03:14 PM PDT Hey Friends, So I'm trying to figure out what's the easiest, most stress-free way to be compliant as a newly formed (days ago) Single Member LLC taxed as an S-Corp when it comes to payroll and accounting? I have an extremely simple service business. No employees. I'm only paid via check, PayPal, or cash. And I put all business expenses on one credit card that I pay off every month. No loans. I also keep track of the revenue and profit of each job in my phone. My accountant says that now that I'm no longer a sole prop, I need to get Quickbooks "to be able to track the balance sheet info for the tax returns," and says I need the plus version ($35/month) "for reporting capabilities the other versions don't offer." First question, do I really need Quickbooks? Can I do this pretty easily myself? If not, is there a different company you would go with? Perhaps Xero? And do I go for their $9/mo plan or $30/mo? Second question, do I need to hire a payroll service? Can I do this pretty easily myself? If not, would you go with Gusto for $45/month? Maybe they offer quarterly payroll instead of monthly? I know ADP quoted me $300/year for quarterly payroll. Not sure if I need it do integrate with Quickbooks? This shit is overwhelming. Someone please tell me what to do. I'm frugal but not so frugal I want to deal with a bunch of bullshit. I'm looking for seamlessness. Thanks for reading. Sorry it was so long. [link] [comments]  |
| Advertising in a very crowded/competitive market Posted: 26 Oct 2019 08:37 PM PDT We have a relatively small startup that is just starting to take the training wheels off, but one issue we're having is advertising... we specifically sell outdoor products and our competitors are obviously a bit bigger, more established, ect. We're on Instagram but it's not driving traffic like we need at all. I understand that it takes time but the new algorithm is honestly a joke. What do we do from here? [link] [comments]  |
| How much profit SHOULD you pay yourself? (spreadsheet calculator) Posted: 26 Oct 2019 10:29 AM PDT About 3 days ago, I made a comment about Profit First (It's a book and an accounting system) and the calculator I created for myself. After a few dozen PMs asking for a copy of my spreadsheet calculator, I'm making it available for y'all. Feel free to make your own copy: https://docs.google.com/spreadsheets/d/1ydjl8jRh2VyufubExuvN8uTmPz2U_13FP4LJjvolPh0/copy For some "quick & dirty" numbers, u/supertoast741 kindly pulled the numbers from chapter 4, "Assessing the Health of Your Business": (RRR = "Real Revenue Range") RRR = $0-$250k = 50% RRR = $250-$500k = 35% RRR = $500k-$1 mil. = 20% (Table continues to $50 mil.) Real Revenue = Total Income - Variable Expenses (Basically the expenses you incur that directly pass on to the customer from manufacturers, contractors, etc.) [link] [comments]  |
| New Business POS Inventory Issue Posted: 26 Oct 2019 03:16 PM PDT Good afternoon everyone! I am a few steps away from opening my own industrial parts store in Canada. I am getting all my ducks in a row for preparation to open January 1st. I'm worried about spending $100-$150 a month on a Point of Sale, where there are free ones that would do decent (Square). My concern is that Square does NOT have a inventory cost option. So my only way to calculate profit would be subtracting my inventory costs from my total sales. Is this a stupid way to run things? Am I going to run into issues in the future? Is is worth investing $1000-$2000 annually into a POS on a fresh business? Thank you! [link] [comments]  |
| Posted: 26 Oct 2019 06:48 PM PDT Is there any way you can advertise on tick tock? Is it even used for it honestly? What's your thoughts... [link] [comments]  |
| What is a good wave accounting alternative? with invoicing would be great. Posted: 26 Oct 2019 02:50 PM PDT Hi guys, I will start off by saying I love wave accounting. We're in Y1 and it really helps to have something to use that is free and easy to use, and has a good UI. One issue that we aren't able to reconcile is that we cannot connect with our business bank account and link it directly with wave, which limits our opportunity to use the wave accounting invoicing to collect payments. Are there any good alternatives to Wave that are free or low cost, with a solid invoicing feature as well? Thank you! [link] [comments]  |
| What to use for B2B payment processing? Posted: 26 Oct 2019 06:14 PM PDT Hello, I am embarking on my first business2business venture. I will be selling steel pallets at a competitive price to wood pallets. However, steel pallets last much longer and are easier to import/export as they don't require any special permits. Coming from a business2consumer background, I am at a loss of how to do payment processing/charging other companies. I assume companies use something more sophisticated than paypal/stripe. Do companies do bank wires for payments? What payment processors do they use? Do they usually do 50% upfront/50% when they receive the product? What does the ordering process between companies usually look like? [link] [comments]  |
| Any experience with Brandable Box (formerly Zen Box)? Posted: 26 Oct 2019 06:11 PM PDT We use a lot of shipping boxes and we have been using a stamp pad to add our logo. We ran across an ad for Brandable Box and their pricing seems almost too good to be true. Does anyone have experience using them? Any feedback? [link] [comments]  |
| Posted: 26 Oct 2019 04:24 PM PDT My husband and I owned a licensed home bakery for several years. We were successful in that we kept a roof over hour heads, food on the table and didn't end up in debt because of it. Eventually we went back to our 9 to 5s. The money is steady, which is great, but we miss being small business owners. We're trying to think about what we might do in the future but better this time around. What didn't work: We were always bogged down with permitting, inspections, the hours baking requires, a small profit margin and the biggest hindrance of all, a perishable item. What worked: We worked very well together and made a great team. We had a passion for the one on one connection with customers via farmers markets, festivals and fairs. What we already know to do differently: This time around we'd have a better functioning web presence so online sales will be in conjunction with in person sales. Absolutely no perishable items. Better handle on understanding our costs. What we need: Some ideas to start researching. Just help brainstorming. I've thought about on demand customization of items. I've thought of selling all locally made items. I live on Cape Cod and we have an abundance of tourists. My husband has thought about custom fishing lures. We hunt and fish so we know this market some but I personally feel this might be too niche. So, all ideas are welcome! [link] [comments]  |
| How to market music to Canadians Posted: 26 Oct 2019 04:12 PM PDT I'm an American who makes niche edm songs. This one is dedicated to Canadians with a drop at 40 sec dedicated to Canadian Prime ministers. How should I go about marketing this? [link] [comments]  |
| What is the State of Dropshipping in Late 2019? Posted: 26 Oct 2019 05:56 PM PDT Hi, I'm currently considering getting into dropshipping, but I am hesitant as I'm not 100% sure how feasible it is in 2019. What challenges are there? Is it still a viable business opportunity? Are there any issues unique to dropshipping that aren't present in other branches of eCommerce? How automated is the current process of dropshipping overall? Are there any legitimately good quality products which can be dropshipped? I appreciate any feedback and insight. Thank you! :) [link] [comments]  |
| Reselling patented products in a different "assembly" Posted: 26 Oct 2019 01:59 PM PDT If I buy a TV and all the parts to a computer, and I sell them at a high mark-up? Do I need to make a deal with the original equipment manufacturer or can I legally do this? [link] [comments]  |
| Posted: 26 Oct 2019 12:56 PM PDT Hey everyone! Wondering if anyone has an interest in the following spreadsheet templates that I've developed through the past 5 years! DM me if you're interested in any of the templates! This is more startup templates for sale so curious to hear what people are willing to pay for if anything:
[link] [comments]  |
| Can I do real estate photos without starting a business? Posted: 26 Oct 2019 11:28 AM PDT I just got certified by the FAA to fly drones commercially. I have real estate agents who want me to do photos and videos for them ASAP. Can I start doing them now for $175 an hour without starting a business? I do want to start one but have none of it started yet [link] [comments]  |
| Business Idea Brainstorming Guidance, Tools, and Validity Posted: 26 Oct 2019 07:11 AM PDT A Bit of Back Story: I'm a 25-year-old young professional with a B.S. in Mechanical Engineering, working as a Quality Engineer at an CNC job shop in Central Wisconsin, unhappy with my current position. I've befriended a old gentlemen and his wife that throughout their life have owned several different businesses most notably one that, when jet-skis (sea-doos) where first coming to market, modified the engines to be high performance race machines. Both him and his wife have since retired and from what they have told me, it is absolutely killing them to be sitting around. The Opportunity: He currently rents out his shop to another business that will be moving out at the end of November. Trying to figure out what to do with the location after the current business leaves my name got thrown into the mix. He sprung it on me that he sees great potential in myself and would like to start a business. He would provide the majority of the capital; I just need to provide the idea. The Problem: With him being older, and stating that the current times have since passed him by its my job to determine what this business will do/sell/etc. I'm no business man, I do have those right-before-you-fall-asleep ideas but they are more centered around what I know I would enjoy doing not what I know will be profitable. While he assures me that unless my idea is verifiable awful, he will make it work using the "Rolodex" he's filled over the years. My Question to You: Can anyone suggest methods for brainstorming ideas? they don't need to be complex just something that helps organizes a person's thoughts and make one think a bit deeper. How can I identify emerging markets or validate that a particular business will be relatively possible? Absolutely any guidance on these would be greatly appreciated and slow the light speed spin my head in is right now. [link] [comments]  |
| live Q/A from a B2B Marketing agency owner, in the lead generation niche. Questions welcome! Posted: 26 Oct 2019 10:32 AM PDT Starts at 1PM CST: For those interested in joining & asking questions: https://www.youtube.com/watch?v=tjJouJft_T0 [link] [comments]  |
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