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    Sunday, May 31, 2020

    How do people who own many different businesses manage to handle and organise everything? small business

    How do people who own many different businesses manage to handle and organise everything? small business


    How do people who own many different businesses manage to handle and organise everything?

    Posted: 31 May 2020 02:47 AM PDT

    Apologies if this isn't the right sub!

    How do those individuals who own several businesses in several sectors, for example several different bars, cafes, gyms, and hotels actually organise everything?

    You go on some people's company information and they're the director of 30+ companies - how do they do it? How do they know how to hire employees who they can trust to be efficient and take on most of the responsibility for other businesses without being looked over that much by the company owner/boss themselves, who may have dozens of other businesses and hundreds or thousands of other employees under their employment?

    Thanks so much for any information!

    Edit: this question also extends to how those who have hundreds of branches of one shop operate - for example the owner of Witherspoon's (who has hundreds of bars/pubs), or if someone had a clothing shop they started reach dozens or hundreds of branches.

    Thanks!

    submitted by /u/WhyIsItAlwaysKenny
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    The Smartest thing any small business person can do...

    Posted: 30 May 2020 09:05 AM PDT

    ...is take a course called Accounting 101. Understanding basic accounting - and how to read a simple Profit & Loss Statement and a Balance Sheet -and the basics of dual-entry accounting should be an absolute per-requisite for every entrepreneur and new business owner. Don't do it before you start your business - but commit to either take a local or on-line class in the first year of business. Learning basic accounting (bookkeeping) while you're running a business will help you understand in real-time the language of your business.

    I took Accounting 101 when I started my first business (distribution) - and it has been invaluable to me through 5 start-ups (and subsequent sales) - and 4 years running a public company.

    submitted by /u/bigbamboo44
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    Everyone tells me they love my products, yet barely any sales. Am I doing something wrong? I’m at a lost here.

    Posted: 30 May 2020 05:41 AM PDT

    So I make whipped soaps, sugar scrubs, whipped body butters, and soaps that look just like bakery treats. I get a high amount of traffic to my online, Soap Store. Many people complimented on my products and yet only 2 people bought them.

    I've sold many of my products in person, and have repeat customers, so that let's me know that my products are good, but why hardly anyone wants to buy them from my online store? I really don't understand why I'm not making many sales on there. Is it because of the look of my website? I'm not an expert at website building, but could that be the reason why? Any feedback would be greatly appreciated!

    submitted by /u/Newmama12
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    Any online business owners residing in New York?

    Posted: 31 May 2020 12:06 AM PDT

    I'm lost with how to go about filing taxes and owning a business in My while maintaining my privacy. I'm looking to speak with someone who has an online business that also lives in New York. If that's you please quote me.

    submitted by /u/Ichbawil
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    My curb painting business is now making over $2k in sales weekly. Ask me anything!

    Posted: 30 May 2020 08:11 AM PDT

    I began painting curbs in early March. Despite current economic conditions, demand for my services has been consistent. Feel free to ask me anything.

    Edit:

    A few of you were asking for pictures of my work. Feel free to view the Links:

    Basic: https://imgur.com/jAIYRDp

    American Flag: https://imgur.com/LDt394N

    Texas Flag: https://imgur.com/mPS1z4h

    Before (full custom): https://imgur.com/mYg34fd

    After (full custom): https://imgur.com/Ezr7mbH

    submitted by /u/Live-Economics
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    Negative reviews

    Posted: 30 May 2020 07:42 PM PDT

    Hi all have you had experience dealing with negative reviews? We have tried so hard to delight customers but today there was a customer leaving a negative review which had nothing to do with the outcome of the service. I have personally reached out to understand what we can do to gain better trust. Overall, we are very disappointed with the review and very discouraged. Just wanted to see how you all deal with situation like this.

    submitted by /u/northmyr
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    Ethical Dilema - Employee, collecting UI, working off the books with another business

    Posted: 31 May 2020 03:04 AM PDT

    Basically through social media and conversations we've realized one of our part-time employees has begun working for a non-competing business, off the books.

    -The employee HAD a full time job with a different company.
    -The employee is collecting UI benefts from that other job. They listed us as a $0 wage employeer so our UI payments shouldn't go up.
    -The employee does not want to work for us part time because it would knock them off UI benefits and we wouldn't be able to pay them more than their receiving with the COVID-19 bump.
    -The other business owner is paying them off the books with full knowledge of the situation.
    -The other business owner and employee both are friendly acquaintances of our business/community.

    My busines partner is furious. I personally don't believe in snitching/doing harm if no harm is direclty being done to me.

    Our business is still closed due to COVID. We qualified for PPP but the 25% non-payroll money doesn't even cover a month's rent.

    We pay our taxes, treat our employees well, and doing everything by the book. I sympathize with my business partner that it seems like the system is screwing us while encouraging less than legal/ethical behavior.

    Options:
    -Talk to employee
    -Talk to other business owner
    -Report to government
    -Do nothing

    submitted by /u/speedy3128
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    Distribution and marketing

    Posted: 30 May 2020 09:43 PM PDT

    I want to import Mango from Asia into North America, I am fairly confident about how the importing part works.

    What I am not sure of is how do I get my product into stores?

    I am not targeting big chains, my initial target is small local grocery stores, but have no Idea how to go about it.

    Please share your experience/advice.

    submitted by /u/alzaidi89
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    Should I start an Etsy shop?

    Posted: 31 May 2020 02:57 AM PDT

    I recently got interested in print making and block carving since the quarantine began. I can see myself selling prints and clothes with my designs on them, and even being mildly successful. From those who do ~crafty~ things or have creative ventures, is Etsy a good starting step? How did you get noticed or recognized within the greater Etsy/online market place? Is there another site or platform that would be better?

    All advice and comments are greatly appreciated!

    submitted by /u/eulalieeee
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    A client has asked for a retainer option for our animation studio services - Contract & payment advice needed

    Posted: 31 May 2020 02:35 AM PDT

    Good afternoon,

    A client of ours who we have produced a few videos for in the past. Has asked us to put together a proposal for a rolling contract to produce X number of animated videos per year. A 'retainer'.

    Obviously given the economic climate right now, it could be bloomin handy... and help toward balancing our loss with filmed projects and allow us to concentrate on other areas of the business or bring on another member of staff.

    It's the first time in 5 years of running our small (but growing) animation studio business that this opportunity has come up. For us, it could provide some regular fixed income for our business and provides benefits to the client too.

    Any advice on contracts?.. as it's initially a proposal we'll hold fire on spending on a solicitor to create a bespoke one.

    Also typically we charge on a per-project basis, sending out invoices before, during and after. What are the most common ways for charging a monthly fee?.. Should we be able to setup a direct debit option relatively easily or have them setup a standing order by the accounts department.

    Thanks for any insight.

    submitted by /u/stormy3000
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    Selling online my first website - need tips to improve

    Posted: 31 May 2020 01:33 AM PDT

    A few months ago (Jan 2020) I set up a small ecommerce website that specialises in selling freshly roasted coffee beans, based in the UK. The url is https://rightbean.co.uk.

    As I am new to all of this I need guidance on how to grow sales effectively. I am seeing increasing webtraffic but I do not see any conversions into sales. I need to understand what I could do better to convert the users i'm getting into actual product sales.

    • I'm using Instagram to promote my coffee through foodie influencers, the feedback and reviews have been very positive from this community for the actual coffee and I find it a cost effective way to get infront of as many eyeballs as possible. Most of my web traffic comes from here
    • I haven't done any digital ad campaigns (FB ad, Google ads) as i'm worried this is a $$$ black hole and budgets are tight. Is my thinking right here? Or should I start to introduce paid ads
    • Amazon. I've not listed any products with Amazon for now as my coffee is more expensive than a lot of bigger coffee brands on Amazon. Our whole USP is that we're artisan and priced accordingly more expensive so I'm worried i'm not going to be competitive on Amazon. I'd rather invest in my brand/ own site to build credibility first. Is my thinking correct here?
    • I am working on SEO ranking of several keywords, but this is admittedly a slow process, is there anything I can do to speed this up?
    • Any recommendations on the site itself? I'm specifically interested in the customer journey and want to encourage them to buy and make this process as simple as possible.
    • Pricing strategy: we have flat rate postage for the UK, is it better to bundle this into the price of the coffee and show free shipping?
    • Is there anything else I should consider, e.g. mail campaigns, giveaways etc.

    All feedback welcome, thanks.

    submitted by /u/gizmisto
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    Where to invest potential incoming investment money

    Posted: 30 May 2020 08:43 PM PDT

    I'm looking at a minor infusion of capital, for my (very) small woodworking business. What area should I consider investing that into? Or how do I go about making that decision myself?

    A few options I'm kicking around include; a new tool or two, wood blanks and planks, advertising and marketing, putting it aside for an even larger purchase down the line (a woodshop of my own, or other large project). How do I go about choosing from these?

    submitted by /u/the0doctor
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    Privacy policy and terms and conditions for new website

    Posted: 30 May 2020 06:21 PM PDT

    Hi, hope all is well. I am starting a new website where my customers will be able to order photo prints and photo gifts online as I anticipate less people will come to my shop following covid. I have been selling on Etsy which has proved to be popular. Anyway, is there a good website anyone can recommend where I could get a template for both the privacy policy and terms and conditions? Thanks in advance

    submitted by /u/RedmenWelshman
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    If there was an easy way for your customers to record voicemail on your website would you pay for it?

    Posted: 30 May 2020 04:15 PM PDT

    I'm built something like this, and just wondering if there are any small business owners that can see a use case for this? I'm not sure if leaving a voicemail or recording an audio testimonial is more interesting, and just curious if any of you can see merit in it.

    submitted by /u/runawayvibrator
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    Help me price my product

    Posted: 30 May 2020 08:59 PM PDT

    I have a new product. It's new to my country, no one's selling it in retail stores yet. I want to sell both retail and wholesale. My total cost is $45/ piece. Suggestions for retail and wholesale prices?

    Right now, doing $125/pc retail. I have my first wholesale buyer $95/pc, 30 pcs minimum and $90/pc at 50pcs minimum.

    but now I'm thinking it should be at $105/pc for 30cs and $100/pc for 50 pcs. What do you think?

    submitted by /u/hitherehellohey
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    How do I start my own clothing brand?

    Posted: 30 May 2020 02:09 PM PDT

    Not really sure if this the best place for it but it involves starting a business so I guess it counts.

    So I've been thinking about starting my own clothing line for a while however I have literally no idea how to even start the process for getting it running. Which yes does include most aspects of the business side of it.

    If someone could give me some advice or send me a link that would honestly be amazing, thanks!

    submitted by /u/SuperOanTick
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    What should I do with 100K in my business account.

    Posted: 30 May 2020 01:56 PM PDT

    Hi I have an incorporated business (education) that is doing fine. I have 100K in my account and I am wondering what is the best way to use it. Expansion of the business is NOT an option.

    Thank you

    submitted by /u/rsal59
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    Canadian corporation all directors moving abroad

    Posted: 30 May 2020 02:53 PM PDT

    Hi everyone!

    My husband and I are the only 2 directors of his federally incorporated business. I am starting a new job which doesn't allow me to be a director so I need to remove myself. My husband is a US resident now as he is studying there and so once we remove me, we no longer meet the Canadian residency requirement. Does anyone what the options are here? We don't really have anyone who would trust us enough to sign on as director nor would we want to get anyone involved just in case something happens. I read online if you remove all directors you CAN dissolve but didn't see you must, can you just have no directors? Or is there a different structure that would allow him to continue with the business with him as the owner even while studying in US?

    Thank you!

    submitted by /u/kapitanski
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    Is toys market dead?

    Posted: 30 May 2020 02:13 PM PDT

    Hello everyone, I just want to know anyone who is working, worked or known someone from toys business, what's the situation of the business?

    submitted by /u/animentze
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    Is it possible for homeowners or small business owners to purchase an insurance endorsement for Civil Unrest? So that they’re covered if they are victims of rioting and looting?

    Posted: 30 May 2020 09:29 AM PDT

    Or is that impossible because of the current state of affairs in the usa?

    submitted by /u/Lonely_Crouton
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    Getting through to a human on the phone to California's FTB?

    Posted: 30 May 2020 04:28 PM PDT

    California's Franchise Tax Board (FTB) appears to have closed all in-person locations. Does anyone know a trick (selection sequence) to getting through to a human there? I'm finding it impossible to get anything but a recorded message or COVID19 stuff.

    submitted by /u/indieshack2
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    Converting 1099's to W-2's

    Posted: 30 May 2020 07:23 AM PDT

    Can anyone give me some advise or away to figure out how much it will cost to convert a 1099 to a W-2?

    When I started my business the goal was to hire 1099's and let them do their thing. Now the business has changed and the 1099's are starting to become more like employees so I'd like to make them W-2's and take care of them the way they deserve to be taken care of. I just don't understand how to budget and make this adjustment. Any help, guidance, or insight on this matter would be greatly appreciated. Thank you!

    submitted by /u/Fade_master
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    I'm a manager who switched industries. Looking for advice on task delegation, agenda management and investment validation.

    Posted: 30 May 2020 03:52 PM PDT

    Hi everyone,

    I've been working as a manager for a couple of years now. My previous experience has been in project management, and I got along just fine without any specialized software.

    I have recently switched industries, I now manage an HVAC business (aircos) in the Caribbean, which requires me to schedule appointments and manage the agendas of several employees for a variety of jobs (installation, maintenance & repairs, cleaning, other).

    I was wondering if:

    1) You could suggest software for task delegation and agenda management.

    2) You could suggest a methodology for task delegation and agenda management.

    3) You could suggest a means to measure and determine the validity of an investment.

    Example: We have been thinking of setting up an office space and workshop. This could increase productivity as working from home is difficult psychologically speaking, especially with certain employee's spouses having a habit of being actively distracting. Due to the variations in demand I don't necessarily know how to measure and produce an expectation value of increased productivity relative to the investment (I was thinking of simply checking the books at first, but we vary in types of services and demand so measuring productivity simply based on invoices may not be a proper variable). So the question is: how to measure and adequately determine the expected value of the investment?

    Thanks in advance!

    submitted by /u/seatruckjnr
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    Inventory (Resell) Question

    Posted: 30 May 2020 11:04 AM PDT

    We're having to correct a few years worth of tax returns due to us not having tracked our inventory.

    We will work to collect all the invoices we can find and get them into a nice spreadsheet. However, we have no ability to correlate our sales to specific items in inventory. We basically have a list of inventory expenses.

    If audited, will this suffice or do we have to show where each piece of inventory was sold?

    submitted by /u/theruginator
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