Take loss on $20k Client Default? small business |
- Take loss on $20k Client Default?
- Just hit $20k in my business account as a single-member LLC--what now?
- I own a service business. I MAY have caused damage to homeowners property, which if i have i will pay for, but is homeowner obligated to pay for the work already done that is good?
- Email pitching database suggestions
- Best insurance for small business
- How does a company change direction or take on new customer segments?
- What things do you track and monitor?
- How do I increase my prices and still have customers be interested?
- Business interactions on user networks
- business financing?
- Name my business
- Small business ideas?
- My primary client is switching to Net 90 payment terms. How do I proceed?
- Maldives Travel Designers
- How To Make Your Truck Post Stand Out?
- For any business owners out there, does Instagram stress you out?
- LinkedIn lead gen funnels and e-mail marketing
- Just started small business, having trouble with pricing.
- Do I have to suck up to everyone?
- Landlord is Breaking my Commercial lease...
- Single month Bookkeeping example
- Best platform for ecommerce with large inventory
- Time to start operating?
- Opening a bakery
| Take loss on $20k Client Default? Posted: 05 Nov 2019 04:57 PM PST I'm a small service provider with around $50k in rev. In 2018 I delivered services to a client with the agreement that I would take 1/3 of the fees up front and defer the other 2/3 for 1 year. Client is a startup that's all-but folded. I realize I won't see the payment, but can I take the loss on my 2018 taxes? Any tips on doing so and not creating an IRS red flag? [link] [comments]  |
| Just hit $20k in my business account as a single-member LLC--what now? Posted: 05 Nov 2019 06:00 PM PST I've been in business as a personal chef for about 3 years now and am finally starting to feel like the profit is growing rather than staying stagnant. I'm curious about ways to keep growing beyond getting paid from weekly clients (which is the sole source of income right now). Should I talk to the bank that holds my business checking and savings account? Talk to a financial planner? Something else? I do already have a bookkeeper and a tax accountant. [link] [comments]  |
| Posted: 05 Nov 2019 05:07 AM PST I have a pressure washing business. I washed someones house and driveway - total approx $750 job. They call me this morning and tell me not to come back to complete job (i was going to clean the windows today), that i took off the varnish from the wood on the walkway ceiling. May i did this, maybe i didnt. I wont know till i see. It is possible that mixture i use to wash the house couldve taken off the varnish from the wood. If so i will compensate them in full. I am meeting them this evening The rest of the house is fine. All the cobwebs, mole, dirt, mildew, and algae is washed off. Unfortunately, its just this area section of wood above a walkway ceiling (approx 10 x 10 so its a fairly decent sized wooden ceiling area in question) Is it wrong for me to ask for the money of the work already completed and use that money if need be to repair or fix the wood ceiling. My thought is, if they dont pay me for the work already done and then i fix the ceiling im out the money from the work done plus the ceiling. So now they got a house wash and driveway cleaning (a $750 service) completely free plus a brand new varnished ceiling for free as well. Idk what to do. [link] [comments]  |
| Email pitching database suggestions Posted: 05 Nov 2019 11:10 PM PST Hi My established business (10 years started offering a new product to clients a fee months ago The uptake has been very good & we are now pitching it to hundreds of others We are struggling to manage keeping up with the status of each pitch Additionally we've stumbled an issue - mailing the same people twice with a similar mail - this is because they are agents at agencies who represent a number of clients & the team are hitting them up based on who their client is - not who they are (this approach cannot change)... we'd need to have a system that could keep track of the people (and ideally companies - using the domain part of their email address) who we have previously approached. Many thanks in advance Dave [link] [comments]  |
| Best insurance for small business Posted: 05 Nov 2019 10:54 PM PST Looking to get general liability insurance with 1M coverage, any suggestions on what company to choose? [link] [comments]  |
| How does a company change direction or take on new customer segments? Posted: 05 Nov 2019 11:53 PM PST When a company takes on new customer segments, ones that have tougher competitors. They need to handle the competitors and the capabilities needed to compete. Bigger competitors will have more brand awareness, more marketing budgets, and better capabilities. How does a company know that it has the budget to develop everything I wrote earlier? [link] [comments]  |
| What things do you track and monitor? Posted: 06 Nov 2019 03:31 AM PST There are marketing metrics, sales, profit and losses, long term planning. Do you track all these things and have an executive report on them? How do you track the overall ability and health of a business and industry? [link] [comments]  |
| How do I increase my prices and still have customers be interested? Posted: 05 Nov 2019 02:13 PM PST Some context, due to economical reasons of the country, the inflation rate has increased causing all prices to increase and stuff. Our prices are bringing me a bit of profit but I want to increase it to match my competitors prices (we are selling way cheaper than they are) I run a small clothing line where we make hoodies with unique designs and stuff. The idea is to increase the prices by 10% or even more, but by doing so I am afraid it will scare away our customers and others. What do you suggest I can do for this? All help is appreciated TLDR: want to increase prices without scaring customers. Help [link] [comments]  |
| Business interactions on user networks Posted: 06 Nov 2019 01:44 AM PST Hello All, How do you evaluate the current experience of creating a business account on user networks based sites and apps like facebook, whatsapp, WeChat, .. etc? What issues do you see? What benefits do you see? Do you prefer having working only on a standalone website or offline physical place or having business accounts on those apps as well? What do you think about the current relation between our online world and offline (physical) world? I am trying to construct a full image of the current state of those apps and also of the relation between our online world and offline world, and I am working on an app that I believe will add value based on some of interviews with customers, but I want to hear from you, so I'd appreciate if you guys open up with all your thoughts in this discussion. [link] [comments]  |
| Posted: 05 Nov 2019 09:57 AM PST Just wondering what everyone uses? We own our business outright, and do pretty well. Of course by the name it is a liquor store in Florida. Had an SBA loan a while ago and has been paid off. Looking for something of a line of credit or other funds available. Everyone wants a personal guarantee, and we don't feel the need to go this route at the moment. We've been in business 10+ yrs. [link] [comments]  |
| Posted: 05 Nov 2019 08:49 PM PST If your business sold building materials products, such as cabinets, flooring, bathrooms, doors, windows, etc., at a discounted price -- what would you name it? [link] [comments]  |
| Posted: 05 Nov 2019 11:47 PM PST Hello, I'm a college student and I think I would rather own my own small business than go into working for someone else. My degree won't be relevant but that's fine with me. I am wondering if there are small businesses ideas that have a relatively good success rate for passive income. I watched a video about a guy that owned a laundromat and another who owned a vending machine business. These are close to what im looking for but I would love to hear other ideas. My other idea is to rent property but I don't think it's a good market to buy in. Sorry if this isn't the right place to ask but YouTube was useless. It just kept recommending freelancing and personal training lol. [link] [comments]  |
| My primary client is switching to Net 90 payment terms. How do I proceed? Posted: 05 Nov 2019 09:30 AM PST I run a small consulting business (advertising/communications); I'm the president and sole full-time employee and we have a few project-based contractors. In a normal year, we gross ~$150,000 but 2019 only expect to gross ~$100,000 because of a slowdown in our industry. Our business has one primary client that's responsible for approximately $50,000 of our earnings. They're a Very Large Corporation with a branch department that's steadily engaged us for retainer work on a Net 30 basis. Our work contacts are a pleasure but their centralized corporate AP is a nightmare; they've historically had a record of taking as much time as possible to pay us, not answering emails and refusing to pay late payment fees. I'm working on diversifying our client base and finding other keystone or retainer clients, but business development efforts haven't been panning out so far. We have lots of clients engaging us for smaller projects, but they don't have budget/need for retainer work. Now here's the problem... I were just informed that, effective January 1, our client is transitioning to Net 90 payment as the result of a new corporate policy. There's no wiggle room, no negotiation... that's just how it's going to be. My contacts were sympathetic but clear that there's nothing they can do about it. This client generates 30-50% of my income--that's a lot of money, and I can't afford to have it floating for 90 days. My initial instinct is to shake hands and walk away, but IT'S A LOT OF MONEY AND I NEED TO PAY THE DAMN RENT AND PAY MY CONTRACTORS SO MY BUSINESS CAN OPERATE. What would you do if you were in my shoes? [link] [comments]  |
| Posted: 05 Nov 2019 10:40 PM PST |
| How To Make Your Truck Post Stand Out? Posted: 05 Nov 2019 09:45 PM PST Probably the most ideal ways for a little engine transporter to promote their administrations is by post their accessible trucks onto a heap board. In any case, how would you get your truck post to catch everyone's eye? Furthermore, how might you make the most proficient utilization of your time? The following are a portion of the stunts I've utilized and that function admirably for me. Post your truck and find new colleagues on the biggest advanced cargo commercial center.
Proprietor administrators as often as possible reveal to me that they hold up till they are accessible before posting their truck. That is on the grounds that they would prefer not to get telephone calls while they are not readied. That is justifiable, yet you don't need to hold back to get the word out there that you'll have an accessible truck. A simple fix is to post your truck utilizing your email address, not your telephone number. I like to post my truck with my email contact when I start my 10-hour reset break. Inside the remarks, I incorporate what time I will be accessible, including in the event that I will be unfilled or not. Using email can likewise assist you with checking the market without the telephone calls. When you have posted your truck load, convey an email declaration to all the favoured intermediaries you have worked for previously and told them you have an accessible truck. Posting along these lines resembles utilizing a group of representative specialists to work for you for nothing while you rest.
I endeavour to be as straightforward as I can on what I am searching for, including the goal. All transporters will pull anything and go anyplace for the perfect measure of cash. I guarantee you this is only sometimes what a dealer is regularly searching for. Besides, when a truck is posted without a goal, it can appear to the agent like an edgy transporter that will acknowledge whatever they can get the opportunity to get going. You need the capacity to be finicky in what burden you acknowledge. On the off chance that you post your truck hours or even days before you need the heap, you can bear to be specific.
What do you need the agent to know? In only a couple of words, let them know in the remarks field. Merchants like to know whether you are unfilled or what time you be vacant. At the point when I post for control just loads, I include that my rates depend on roundtrip. In the event that I need to return home, I incorporate my rate. [link] [comments]  |
| For any business owners out there, does Instagram stress you out? Posted: 05 Nov 2019 09:48 AM PST |
| LinkedIn lead gen funnels and e-mail marketing Posted: 05 Nov 2019 08:47 PM PST |
| Just started small business, having trouble with pricing. Posted: 05 Nov 2019 07:16 PM PST I just started a handmade jewelry business. I have a lot of ecommerce experience but none with handmade stuff. I did some research and found a lot of information for how to price handmade goods but when put into practice I have a hunch my pricing is too high. What can I do to test this without lessoning my brand? My goal is to target a middle-upper class woman who is looking for quality and not a bargain. If someone with experience can help please let me know! If be eternally grateful. [link] [comments]  |
| Do I have to suck up to everyone? Posted: 05 Nov 2019 07:00 PM PST I started my business a few weeks ago and have been trying to market on Facebook and Instagram. Many hours of posting on social media resulted in about 30 website visitors, and only one of those visitors joined my email list (in exchange for a free gift). None of the visitors clicked on the paid products on my website. I spoke to a few business coaches, and all of them told me that people like to buy from people they know and like. They recommended that I go out, meet as many people as possible, and befriend them. Once we're on friendly terms, they'll be a lot more likely to buy. I agree that this strategy would work, but it's very impractical in my case. First, I quit my job to work on my business full-time, so I'd like to make sales asap and don't want to wait a few months (since it would take a few months for friendships to develop). Second, I'm an introvert, so having to talk to so many people is very draining. Socializing uses up energy that's needed for working on the product-development parts of the business. Also, I spent 12+ hours per day on the business, so I'm tired, and it's very hard to be charismatic when I'm tired. What do you think I should do? I hate the idea of spending a few months to befriend thousands of people just so a small percentage of them will buy my products. Is there another way? How do you recommend a brand new business get its first customers? Is anyone here an introvert? Is there a way to grow a business without having to talk to lots of strangers? [link] [comments]  |
| Landlord is Breaking my Commercial lease... Posted: 05 Nov 2019 09:18 AM PST Hey Everyone, I needed to get this out there, I lurk reddit quite a bit but I wanted to seek out some advice on this situation. If you need a better picture or visual of the type of store I own I created this video "non monetized". https://www.youtube.com/watch?v=cDQcOPmhSsg Basically the situation stands like this. We built this community store from the ground up. My Father and I did alot of the work from the barebones ourselves besides the electrical, ductwork, heating and cooling. In total after everything in I spent about 65k. After about 2 years I still work much more than full time to build it but I am finally paying myself a livable wage and we are pretty proud of it. Sales seems to be increasing and our net profit is most likely going to be around 60k( before my minimum wage salary) for the 2019. The building was and old grocery store years and years ago that the neighbourhood loved the owners retired and loblaws leased the space for 10 years to prevent nearby competition, after the ten years were up I came in with a much smaller niche market. This is being the case We fought tooth and nail with lawyers to amend our lease to have a non compete clause in our plaza (basically stating that we will be the only ones to trade grocery, especially produce). Problems did arise when the indian takeout/ butcher( opened about 6 months after I did) to carry some dry groceries which I was unaware of until I went to his shop. There were just a few Indian groceries so it was nothing that I intended to carry. However, now I was given the information by the butcher himself that has been looking at the space adjacent to me to open up move his meat shop and open his own grocery store based solely on Indian grocery. This has been confirmed by the landlords bookkeeper as well. The space is 4000sqf and I know likely they will add much more than Indian Grocery over time which will really hurt my bottom line. Before I get my lawyer to look this over and the best possible recourse I wanted to see if anyone has been in a similar situation and what was the result. I know this neighbourhood cannot support another store especially one literally next door to me. I also will know that the landlord will try to sway me by telling me they will only have Indian products it will not affect you, however he has went behind peoples backs in the past and opened up very similar businesses in the same plaza( which I assume they found loopholes in the restriction or non compete clauses). Thank you for reading through this, if you have any insight or experience with this i'd love to hear it! [link] [comments]  |
| Single month Bookkeeping example Posted: 05 Nov 2019 05:56 PM PST |
| Best platform for ecommerce with large inventory Posted: 05 Nov 2019 01:54 PM PST I am opening an online pet store with very large selection items. What would be the best platform to build it? I am thinking shopify, what would be the total cost for it? Also what are the other open source options? I am fairly technical but I also dont want to dive into a new platform and learn all the nitty gritty for too long. I would rather spend few extra dollars per month and go with some quick and easy instead. [link] [comments]  |
| Posted: 05 Nov 2019 05:39 PM PST Hello Everyone, My third party logistics company might be ready to start operating! I don't own any assets and will be coordinating customer logistics virtually. -I am registered at the state and federal level -I have a domain and website ready -I am working with an accountant -Bank account is set Am I missing anything? Is there anything else I need to start coordinating shipments for my global customers? Appreciate the help! [link] [comments]  |
| Posted: 05 Nov 2019 05:03 PM PST My wife went to college to be a Baker and we are looking into opening a shop since trying to do it out of our apartment as a side gig isn't cutting it. I've done a lot of market research and believe I've found what we are looking for location wise and I'm interested in learning to financial side of this sort of start up. Is there any free/cheap consultations that can be found in this business?I'm a pretty DIY learner but this is an overwhelming amount of information to parse. [link] [comments]  |
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