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    Thursday, November 28, 2019

    My new favorite toy: Excel Forecasting small business

    My new favorite toy: Excel Forecasting small business


    My new favorite toy: Excel Forecasting

    Posted: 27 Nov 2019 11:25 AM PST

    Hey everyone!

    I just wanted to share this amazing new (to me) function in Excel. I struggle with predicting what my business will look like next year with its seasonality etc.

    I have been using this tool in Excel where I put two columns: One for the month and one for the revenue, highlight both without the titles and hit "data">"Forecast Sheet" and it makes me a forecast of the next two years of my business with a low prediction, medium prediction and a high prediction.

    Wanted to share because I am an Excel nerd and I didn't know of this function, and now I am using all kinds of different data sets to make charts from and am getting a great picture of the future of my biz.

    Hope that helps someone :)

    submitted by /u/bananas_to_go
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    Should I go back to school for business?

    Posted: 27 Nov 2019 08:55 AM PST

    I already have a bachelors in an unrelated field and when I was young had no idea that I'd ever be interested in business or running my own. But here I am years later and that's where I see myself 10 years from now. I fell into working for a local business that I absolutely love and have climbed the ladder to the point that I am right below the business owner as a top manager, so I'm already getting a lot of experience in the daily managing of things but thinking about the future I don't really have any clue about the legal side of it. Or how you would start one from the ground up.

    So the question is would it be worth going back to school part-time for a minor in business to learn more? It would probably just be community college and I have no doubt that I'd do fine - I've always been really good at school. But I don't want to spend that money if it wouldn't really help, or if there are other ways to go about it? Looking for any advice related to what I should be doing now if I want to start my own business in around 10 years. Thanks.

    submitted by /u/nickdiculous
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    Advice from my employer: Pay yourself first. He said people need to understand Business Economies. How does it all fit together?

    Posted: 27 Nov 2019 09:34 PM PST

    I have been fortunate to work in two Bootstrapped companies so far. And both the company's founders said they waited for the profits to be large enough to support themselves first, and then hire support staff.

    Does it always work? Are there any alternative to this thought process?

    submitted by /u/This--Ali2
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    Developer thinking of working for them self

    Posted: 27 Nov 2019 11:37 PM PST

    I'm a full-stack dev that is currently not happy where I work. I recently reached out to a charity to see if they could use any free dev help. I helped them with a few things and it was fun. I don't think I want to just quit my current job right away, but do consulting on the side. Do I just form a LLC and create a website, then start calling around to local companies to see if they need someone to fix some software or write a new app? Is $50 an hour in the Midwest too much or too little for an hourly fee? This is all new to me, not really sure how to take my next step.

    submitted by /u/throwaway_dev_
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    Online learning Management System

    Posted: 27 Nov 2019 11:28 PM PST

    An advanced e-learning system is a B2B tool, which provides every information in one place so that effective learning is possible through the help of advanced technologies and online tools. E-Khool can easily handle 50000 concurrent users in an efficient manner through the recent and advanced framework, which has the capability to engage, entertain, and delight the learning procedure through the Course friendly, Learning friendly, Enterprise friendly, Customization, Technology friendly, and User-friendly procedures. To Know More and contact visit ekhool.com

    submitted by /u/Ekhool-LMS
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    Complete newcomer here, what would be the best type of business to create for the multitude of services I offer?

    Posted: 27 Nov 2019 11:01 PM PST

    So during my college years I tried to squeeze money out of every skill I had to offer and I turned out to be very successful at it. As a result I have made decent income from teaching piano, composing, selling my music online, gigging, web design, graphic design, comic book drawing/inkling/coloring, and creating cosplay costumes. Now that I've graduated I basically want to continue doing all these things but make it more official by starting a business. I've done some research and it seems like an LLC is the way for me to go but I'm not sure if that would allow me to offer more than one service or if there's a different business structure that would better suit my situation? Or could I create multiple LLC's for everything or would that get too difficult for one person to manage? This is all in California too btw.

    submitted by /u/EDPZ
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    how to transition a 'no-name small business' to 'reputable big business'?

    Posted: 27 Nov 2019 06:13 PM PST

    1. When starting out selling a few products at low amounts (without the brand name meaning too much to consumers), what does it need to do to be known as a reputable 'big business'?

    2. Does it need 'social proof'(seen in big stores, talked about in forums, online website reviews)?

    3. The product needs to be seen as better or different than big name products?

    submitted by /u/jesus_ismexican
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    Im starting my first business and I’m not sure how many units of product to order. Help?

    Posted: 27 Nov 2019 09:37 PM PST

    So I've always wanted to create my own makeup line and my dream is finally coming true.

    I plan to sell one product to my 100,000 beauty obsessed followers. (I am an IG beauty influencer)...

    I am also sending the product to about 80 influencers, and their combined following total is about 15 million.

    The product will be a gift to them with no obligation to post, however they're all my friends and at the very least they would do a story.

    IG has changed their algorithm lately so assuming that their engagement rate on stories is 4%, it would be around 60,000 total impressions...

    Im not sure if my math If off but I heard that you should calculate to sell to 1-3% of your total audience.

    So I'm calculating 1% of 60,000 which is 6,000 units... and 1% of my own following which is 1,000 units...

    So conservatively, I should order 7,000 units...? Does this sound correct? Or am I way off?

    submitted by /u/Marssco
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    What payment methods do you accept on your e-commerce site? PayPal? Stripe? Opinions?

    Posted: 27 Nov 2019 11:00 AM PST

    So I'm close to launching my e-commerce site and currently have both PayPal and Stripe enabled as payment options.

    I have a few concerns about using PayPal. Stories on Reddit suggest that shady buyers often take advantage of this method, requesting refunds without due cause, and generally causing headaches for a seller. Have you had any trouble with this? Do you feel that having PayPal as an option increases conversions?

    Thanks for your input.

    submitted by /u/CFRAmustang
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    Best option for credit line?

    Posted: 27 Nov 2019 11:36 AM PST

    Hey fellas, I'm stuck in a bit of a pickle with expanding and hope I can get some advice.

    I run a commercial truck tire install business where I install customer supplied tires onto their equipment. Besides fuel and my time, there is pretty good profit in this when jobs come along.

    Now, I'm looking to get into roadside emergency tire changes, the profits would be insane compared to what I'm currently bringing in.

    THE PROBLEM

    Truck tires run about $350 to $700 per tire, and come in many different sizes. Recapped tires are more reasonable at about $225 each.

    I don't have the capital to buy a big selection, and I usually only have enough credit limit to purchase 2 at a time if that.

    What's the best way solution to a revolving credit line? I'm a sole proprietor with a credit score around 660. I figure 10k would be amazing but can work with less.

    Is a business credit card a possibility even if I don't have an LLC? Other options I'm overlooking?

    submitted by /u/Andssrew1990
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    Looking for an office AIO B&W laser printer able to scan mixed size documents in one batch

    Posted: 27 Nov 2019 08:04 PM PST

    Hello. I'm hoping someone might have some recommendations. I'm looking to replace a laser printer for my office. I used to have a Brother MFC8910DW which was a BEAUTIFUL all-in-one office laser printer. It was relatively speedy at printing, copying, and scanning at very good quality. The best and most important feature it had was being able to detect the size of a document and scan and copy appropriately. For example, if you scanned in a letter size document (8x11) together with a legal size document (8x14) in a single batch (to create one single PDF file), it would scan the letter size document without creating the extra white space for it and still scan the legal size document in full. This was an important feature because my office works with multiple sized documents that need to be scanned. This was a huge time saver since I don't have to individually scan larger documents and reorganize them with smaller documents afterwards (it was pretty much place the docs in the feeder tray and not worry about it. Set and forget).

    Because I haven't had a bad experience with Brother, my replacement now is the MFC5850DW. However, this printer does not have the mixed size scanning feature. Even their Control Center 4 program (their program used for scanning) removed the automatic document size detection option. Brother's customer support told me this feature is not only removed from all their current machines, but this kind of feature isn't even listed on their products' pages. This is frustrating since that scanning feature was very essential for my work.

    QUESTIONS ANSWERS
    Budget: $550 Max
    Country: USA
    Color or black and white: Black and White
    Laser or ink printer: Laser
    New or used: New
    Multi-function: Yes: Scanning, copying, and printing
    Duplex Printing: Yes, and duplex scanning
    Home or business: Business
    Printing content: Documents and occasionally maps
    Printing frequency: Approximately 2500 to 3500 pages per month
    Pages per minute : The higher it is the better
    Page size: Primarily letter (all everything smaller) and legal (don't need anything bigger than legal but it would be a bonus that serves an occasional purpose)
    Device printing from: Primarily PC
    Connection type: Wifi and USB

    Any other details:

    Able to detect and appropriately scan mixed sized documents in a single batch. What is this feature even called?

    submitted by /u/Hawkcaw
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    Anyone have used or experienced CPOS merchant services?

    Posted: 27 Nov 2019 06:15 PM PST

    Looking to get a processing service for my new business in Canada. Their rates are very competitive, but I am scared to try the "smaller" companies as I've heard stories of deposits being late, hidden fees etc any insight would be helpful.

    submitted by /u/apun333
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    Looking for recommendations for a small business lawyer/law firm in the Dallas-Fort Worth area

    Posted: 27 Nov 2019 08:30 AM PST

    Seeking referrals from fellow small business owners in the DFW metroplex. I have a small business and there is potential of a lawsuit as well as a few contract disputes that may arise in the near future. I am looking to find a lawyer for consultation as well as ongoing guidance, in case of a lawsuit.

    Thank you in advance for any suggestions.

    submitted by /u/akdfw1
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    Need help grow my web business

    Posted: 27 Nov 2019 05:57 PM PST

    Looking for help and possible partners. How do I get started?

    Posted: 27 Nov 2019 11:31 AM PST

    I am 18. I am no way a cut throat business land shark, but I'm passionate. I want to start a brand, in particular, a clothing brand. That's extremely difficult from what I gathered by my research. But I'm willingly to try. I need help however. I need questions answered and advice to be given. I think my idea is good, I just have no way to really get it out there. Since I can't post pictures, ill ask that those who are interested DM me for more insight. Thank you.

    **sorry about grammar. Kinda had to rush this.

    submitted by /u/Quiet-n-Curious
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    Selling a Delaware LLC for $50 (I pay YOU)

    Posted: 27 Nov 2019 04:54 PM PST

    Hello all,

    I am currently facing the decision between dissolving my Delaware LLC (a cost of $200), or passing it on to someone who may be able to better use it.

    The background is that my startup has matured into a corporation due to various positive developments. The LLC I and my business partners previously used to conduct business is therefore lying dormant.

    I would gladly pay someone (with reasonably good intentions) to take over the LLC. There are currently 9 months of registered agent service still remaining, and the franchise tax does not need to be paid until June of next year, and is fully paid for 2019 (so you've got some good runway).

    The LLC was founded in late 2018, so it has some age as well. In addition, the LLC already has an associated DUNS number and EIN. We would have to agree upon a specific arrangement in order to work this out, and look into the details of renaming the company (not necessary, but perhaps wanted) and the transferability of the DUNS number and EIN.

    This is where the $50 comes in. I'll be glad to cover any costs incurred for getting your business up and running up to $50 (PayPal or ACH transfer). This is because it's cheaper for me to do this than to dissolve the company, and I may even be able to help someone out in the process.

    If you're interested, please PM me or leave a comment!

    submitted by /u/Sebmellen
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    Any of you need free business website ?

    Posted: 27 Nov 2019 02:51 PM PST

    Hey I want to offer you free website for your business , if you are interested please reach me out trough pm ! I am web designer and web developer looking to expand my portfolio.

    submitted by /u/i3dstudio
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    Leakage detection in the UK help

    Posted: 27 Nov 2019 02:41 PM PST

    I've had a number of years working as a leakage technician for a large water company and I'm wanting to start a small business finding leaks internally in properties

    The problem I have no plumbing experience whatsoever the question would you be willing to pay for detection services and then either be supplied a plumber or find your own

    From what I've gathered research wise is trace and access is covered by most insurance I'm just worried not having turnkey solutions would be off putting

    submitted by /u/City_Gent
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    Small Business (C-Corp) which operates solely out of my home (and I'm 100% owner). Need to figure out best Home office deduction

    Posted: 27 Nov 2019 01:24 PM PST

    Hello, I've been researching this topic and it seems easy to find the deduction for my home office because it is a dedicated space and easily calculable. However, I also don't want to have to pay additional income tax personally (as the owner of the home). I was researching methods and came across this link: TaxTip!

    Reimbursed employee expenses - The shareholder-employee can treat his home office expenses as if he were a regular employee, and then, by written pre-arrangement with the corporation, have it reimburse him for these costs after he substantiates them in full (amount, time, place, and business purpose of each expense). Results: Assuming the shareholder-employee could have claimed the expenses as business deductions the reimbursement for the expenses is fully deductible by the corporation and is a tax-free accountable-plan reimbursement to the employee. The shareholder-employee avoids having to claim attention-generating home-office deductions, and doesn't have to struggle with depreciation deductions and basis adjustments. However, the shareholder employee can't deduct the business-related portion of his mortgage interest and property tax if the corporation gives him a tax-free accountable-plan reimbursement for these items. Otherwise, he would be getting a double tax benefit—a deduction and tax-free reimbursement—from the same expense.

    This section seemed attractive because the business deducts the expense - and the employee submits the rent, etc as an expense to be reimbursed (not having to pay income tax on it). It wouldn't really make sense for me to deduct it from the business if I can't also avoid paying tax on it as an individual.

    Anyone have experience with this situation directly? If you are a CPA, I am happy to pay for some consultation if necessary.

    submitted by /u/bapressy1647
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    Problem account manager at one of our suppliers - should I say something?

    Posted: 27 Nov 2019 06:36 AM PST

    Hi SB,

    Coming back to the sounding chamber with a bit of a conundrum.

    We have a generally great supplier for the packaging of one of our products. Our experience using them has been almost entirely positive and professional, and even when something went wrong (part of a shipment got lost in transit and we foolishly didn't realise when receiving and signing off the order) they went above and beyond to sort it out competently and professionally.

    However, the account manager who handles sales to us is really getting on my nerves. She has repeatedly missed emails and not replied until i've called up and spoken to another agent who's gone into her inbox and told me that she's completely missed them. When I mentioned in passing that one of our shipments had arrived with some grit inside, she started talking about how we were "destroying evidence" by cleaning them off before telling her (we never asked for any kind of compensation or refund, it was just mentioned as an aside when referring to the issue above). She often gives one word replies when we ask her for information, or when we ask for a datasheet/specification for a product, she simply sends us a link to the supplier's web page on a family of products - for instance we ask for a datasheet on a specific biodegradeable package, and she will just send us a link to the suppliers generic "about our biodegradable options" page with no further or specific info, or even a covering message.

    We're (I think) one of their smaller clients, and i'm not sure if i'm overreacting. I'm hesitant to email asking if we can switch to a different account manager because they are a fairly small firm and I don't want to sour our relationship or be labelled as a problem client.

    What do you think?

    submitted by /u/badonkadelic
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    Need help finding the right people

    Posted: 27 Nov 2019 11:21 AM PST

    Me(full stack developer) and my friend (photographer and copywriter) got and idea to start a local business in Slovenia where we would offer a whole website with everything(we would take care of everything from photos to website to advertising). We have two happy costumers which we found by our parent's connections but we have trouble finding new costumers. Well, this is harder than it sounds since most of these people don't have a website online because they don't know anything about the internet. Our ideal customer would be someone who runs a local business and knows little to nothing about the online world and has no website or online presence. Where could I find these people? any advice?

    submitted by /u/andro320
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    Suggestions for simple inventory tracking app?

    Posted: 27 Nov 2019 06:55 AM PST

    I have a small online shop and I need a way my wife and I can both quickly see if we have something in stock. If I don't have enough or need to order, then it adds a few days to our quote. Mainly tracking rolls of vinyl.

    I'm looking for preferably an app that can simply update inventory without relying on invoices and customers for in/out. Sometimes I have bar codes for things, sometimes I don't. Since it needs to be shared by both of us, something account or "cloud" based is best. I don't mind paying for something that meets our needs, but I will not have a subscription based "service".

    I've tried a few popular apps, but either it's difficult to manually add and remove inventory, or they require bar codes, or ther's no trial option before purchase. Ideas?

    submitted by /u/SplitsAtoms
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    In-house advertising team or hire a firm?

    Posted: 27 Nov 2019 05:46 AM PST

    So i am about to pull the trigger on hiring a group of 4 highly qualified people on a 6 month contract. (all recruited independently) and a few have been working odd jobs for me for over a year.

    1. SEO
    2. Blogger/content
    3. Facebook/ adwords etc
    4. graphic artist

    I will have to manage all 4 people with the help of the SEO guy who is getting paid a little extra to make to-do lists and keep track of the team.

    For full disclosure These people are experts in there field and work a full time job for another company (non-compete), i am hiring them to work on there off time for a hansom salary per month.

    I have never looked to hire any ad agencies/firms. I always thought they where for the "big boys"

    So i have a question, My ad budget will be increased by almost 30% by bringing these 4 people on. Would i get better results and less head ache if i just went with an ad agency/firm?

    OR

    Should i manage this team and pump out better results then any ad agency can?

    submitted by /u/JayCraeful0351
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    Any Experience with Text Marketing?

    Posted: 27 Nov 2019 08:40 AM PST

    Thinking of running text marketing for one of my clients, but I have never done this before. Has anyone in the reddit thread done text marketing and if so, what were things that you wish you knew before your first campaign?

    submitted by /u/tmblast1
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