Promote your business, week of June 1, 2020 small business |
- Promote your business, week of June 1, 2020
- I just cancelled my Amazon Account and want to support smaller businesses
- How I went from high school to building a $ 1M income business
- How I make six-figures by offering "Free Walking Tours"
- How to send mass emails? Any program recommendations?
- Seeking interviews
- It's Okay To Be Lazy Sometimes
- Task/Order Tracking Software for a Production Based Small Company
- Service Agreement/Contract
- Best web host for Small Business site
- How much do you pay for your PO box or private mailing address?
- Service franchise vs start independent
- [Question]What can i do, to invent a cash register system as cheap as possible?
- Care Package Ideas to Send While Your Employees WFH
- Damaged property from protesters
- Need help starting a car detailing business
- Restaurants and other businesses with brick and mortar stores
- Keeping track of expenses for tax purposes
- I need help managing my business (from website/emailing/etc.)
- Looking for recommended solutions for sales CRM + Inventory Management - small business
- How to promote a website?
- Abstract: Why most small businesses don't work and what to do about it
- Can I beat squares rate without much hassle?
- Potential new employee can bring client list, potential lawsuit?
- Can I use pre-tax income from my LLC on a down payment for a rental house, which will also be under the same LLC?
Promote your business, week of June 1, 2020 Posted: 31 May 2020 06:37 PM PDT Post business promotion messages here including special offers especially if you cater to small business. Note: To prevent your messages from being flagged by the autofilter, don't use shortened URLs. [link] [comments] |
I just cancelled my Amazon Account and want to support smaller businesses Posted: 31 May 2020 01:18 PM PDT I just cancelled my Amazon Prime account and no longer seek to support them for ethics reasons. However, this does come at the cost of convenience. Instead I want to shop and support smaller businesses and be able to purchase from their online store fronts. Does anyone have any recommendations for popular or up and coming small businesses who can use support? [link] [comments] |
How I went from high school to building a $ 1M income business Posted: 31 May 2020 05:02 PM PDT English isn't my first language, I'm from Colombia. Yet, I want to share my history with you. Back in 2008, I was finishing my last year in high school. In that year I got a job as a salesman in a small home appliance business. The owner was a successful businesswoman, but in recent years she was struggling to be profitable due to bad deals, employee robberies, and lack of flexibility to adapt his product portfolio to the customer's needs. the business was specialized in fans and air conditioners and my boss bought them in the port, due to that, she was away 80% of his time. In the beginning, I realized that customers were not looking only for fans, but home appliances like stoves, refrigerators, TVs, and others. Yet, my boss was skeptical, she had been selling fans for 20 years and was reluctant to include other products in his portfolio. In my first month in the job, she couldn't pay me, so I proposed to her to let me sell other products in the store, in that way, she shouldn't pay me. she agreed, so I borrowed some money from my father and bought 4 stoves for 400 USD. I sold it in 3 days with a profit of 160 USD. Throughout the first 3 months, I repeated the same formula, buy a product a later resell it with a margin of 30% to 40%, converting my 400 dollars to 4.6K. Since I was living with my parents I saved all the proceeds and reinvested them into the business. In the fourth month, I met a supplier of chairs, stoves, refrigerators, and luxury fans. After a quick negotiation, he gave me 5K of credit, which I used in a week. My boss saw my success and ask me for a percentage of my sales, instead of doing that, I negotiate to take charge of all operational and overhead expenses of the store (public services, lease, maintenance, etc). At that moment my sales were only 10% of all the store's sales, but I was confident about what I would achieve. In December of 2008, I had my first 10k sales month. For 2009 I started my bachelor's in economics, so I had not much time. due to that, I decided to hire my first employee. The first one was a total mistake, the sales immediately dropped 50%. In one month I fired him a hire another. This time the results were better, she was a better seller than me and enjoyed her work. I focused my time on manage inventory, make payments, a negotiate with suppliers. I hadn't time to spare. From 2009 to 2013, the business grew up slowly to revenue of 30k/monthly, it was working even without me. After I finished my bachelor's degree I concentrate more on the business, my former boss became my partner and was looking for her retirement. I got a banking job and my business was running smoothly without my presence In 2016, she offered me his store, so I bought it. I take $100K debt and took full control of the store. That year I hire the other 2 employees, finished the year with sales of $560K and more than 100 SKU. In 2018, the next store closed and I bought it, expand my portfolio to 300 SKU, hire more employees and get sales of $810K. In 2019 my numbers were: 10 employees, $1.1M in revenue, $242K in net income, and bought a warehouse for $90K. While I continued with my finance job, doing $40K a year (For Colombian standards is a pretty great wage). I'm 28 years old. I managed to build a $1M business, with a system that allows me not to be involved in all the decisions that are made. All the money that I had made is to build that system and buy assets to expanded and make it bigger. Some people ask me, why do I keep my banking job or why don't I work as the manager in my business. I have decided in that way, my profit is less, but that allows me to focus on growth, strategy, and other opportunities. [link] [comments] |
How I make six-figures by offering "Free Walking Tours" Posted: 31 May 2020 05:26 PM PDT Since 2005, a new business model has taken the world by storm. Businesses like Sandemans New Europe, Strawberry Tours, FreeTour.com and many others have been able to grow into behemoths of the industry. In 3.5 years, my own "Walks 101" has become the largest walking tour operator in Melbourne and the best reviewed operator, full stop. The Business of "Free Walking Tours"I think that walking tours are the best way to see a city. Walking (as opposed to biking, bussing, or Segway-ing) allows ultimate freedom. Walking tour guides are free to bring a group by a new mural that was just installed, to a cafe where they know the owner down a back alley, or to pause for the living, breathing moments that make a city great (like when I would stop for my group to marvel at the Changing of the Guard in Westminster). Everyone should try a walking tour, but not everyone can, primarily because:
That's why I started offering Free Tours. I invite guests to join the tour without paying any money up-front, and without requiring a booking. At the end of the tour, guests are invited to pay what they feel the tour was worth, but payment is always optional. In doing so, I allow solo travellers, guests who are in town for a conference and only have same-day availability, or guests for whom $89 is too expensive a price point to enjoy an outstanding three-hour walking tour. The trade-off is that the groups may be a bit larger (usually 20-30) and the guide will out of necessity have a more theatrical/presentational quality. In bringing free tours to the Australian marketplace, I followed a tried-and-true method: I lovingly "borrowed" my model from existing operators. Free tour operators the world over tend to use the following business model:
The model inverts the typical process, by which customers pay the company and the company pays guides. It's a win/win for many reasons — the guide takes on the risk, but can reap a large reward. Why the "Free Tour" Model (As It Currently Exists) is ProblematicA couple years into the existence of Walks 101, the model I imported from Europe was beginning to show some cracks:
The freelance model has benefits for both sides — the company doesn't incur staffing costs, and the guides get flexibility as well as a direct relationship between their performance and payout. However, drawbacks started to outnumber advantages.
Accepting High Staff Guide Churn as the NormThese are problems all the previous "Free Tour" companies for whom I worked encountered. There's remarkable cohesion in "Free Tour" guides worldwide, compete with a private Facebook group and ample gossip. In every tour company I worked with... In every tour company one of my colleagues went to work with... In my own company... ...the result was the same. Guides and brands accepted an incredible amount of guide churn as the cultural norm of the "Free Tour" model. Unsuccessful guides would self-select out in just a few weeks. Successful guides would last a year or two. The best of the best might stick around for a few years, but were liable at any moment to have the work dry up, as the brands had no obligation to continue providing work. The company I had created to be a guide-centric business was falling from its mission. In 2.5 years, I churned through 45+ guides. Some lasted a few weeks, a couple for more than a year. Some of the professional relationships I had with guides ended in frustration, anger, tears. I need to accept responsibility as a business leader for taking that as an acceptable culture. A New Way to Run a "Free Tour" CompanyEarlier this year, I changed course. From a customer-facing perspective, I believe in the "Free Tours" concept today as much as ever. It's my back-office that needed a significant change. At Walks 101, we turned the "Free Tour" model back around:
The biggest factor in making this a success is the ability to forecast. Could I predict how many guests would arrive to a given tour (even without pre-bookings)? Once I did that, could I predict how much each guest would give? Will guests be as willing to give in the same way — and will guides push as hard — if they know they're making a flat rate for the tour? The first question was easier — I had two years of data to predict how many guests would show up to an 11 am tour on a Tuesday in the rain versus a 3 pm tour on a Saturday in the sun. Forecasting group sizes is attainable. Forecasting revenue from the free tour is harder. To my knowledge, Walks 101 is the first free walking tour company anywhere on the globe to offer competitive wages in lieu of the old "Free Tour Model." It's important to me, not just because I want to be a responsible employer, but because I want guides who are more than just for-hire guides. I want best-in-class guides who believe in our mission to bring "Free Tours" around the world, and to be soldiers in the growth of the company to Sydney, Auckland, and beyond. By changing my model, I hope to build a team that will be excited by this prospect. At present, I have one full-timer on this method, with 5 casuals who will have the opportunity to grow into a bigger role as the company grows. Consequences (or, How I Lost All My Guides)In making this decision, I was clear-eyed about the fact that this version of my business wouldn't work with all of the members of my freelance team. Some had come to enjoy their flexible lifestyle. They enjoyed working for 2 or 3 of my competitors simultaneously. It wasn't a decision I made lightly, and it was terrifying to bet the company on an unproven concept. In the weeks following my decision, I lost all but one of my team. I offered some work under the new model — (the response: "Why would I work for $30/hour when I make triple that on the freelance model?) Others had become disillusioned with the "traditional" free tour model and at their wits end with the uncertainty. This winter we rebuilt our team from scratch, all on a fixed hourly wage. The tenor and tone of the new team is remarkably different. Guides aren't on edge anymore about making rent. I can ask a guide to work a Saturday tour, and they know it's going to pay them enough (with bonuses for working weekends and evenings) to be worth their while. What's more — I can ask them to go beyond the call of duty — for example, recording "thank you" videos to be sent to our guests. On an hourly wage, we have a clear expectation of what their time is worth. The Future for Free ToursI believe as much today as I did when I started working with "Free Tours" that this model is an innovative, inclusive, and inspiring one. It allows us to welcome guests who may never have booked a walking tour in the traditional way for the reasons I outlined earlier. As the "Free Tour" concept enters its 15th year in existence, it's time to start treating these products like the serious entrants they are in the "Tours and Activities" arena. One way we can do this is by providing sustainable, ethical employment opportunities for the talented individuals who give these tours. By over-relying on freelancers, operators (like myself until recently) are unfairly putting the onus of risk-taking on the folks who are functionally acting as employees. These people have no hope of cashing in long-term on the time investment they've made that has helped grow the company, and no protection in the event of an injury or insolvency. I wanted to bring this to the /r/smallbusiness subreddit because the way I operate is so different, and I thought you'd be interested in my decision-making process. Happy to answer questions below. [link] [comments] |
How to send mass emails? Any program recommendations? Posted: 01 Jun 2020 03:12 AM PDT I have a business that is looking into email marketing. I've been getting emails from customers but not really using it. What programs can I use to email customers? I.e Mother's Day special, Christmas special, those types of email? Do you use a special program? Or just use gmail and BCC everyone? [link] [comments] |
Posted: 01 Jun 2020 02:57 AM PDT We are conducting interviews of business owners/managers in association with the National Science Foundation to find the market viability of a platform designed to help small businesses get online. If you have a few minutes to spare for an interview please dm me. [link] [comments] |
It's Okay To Be Lazy Sometimes Posted: 31 May 2020 05:29 PM PDT Hey everyone! Over the years I've built up a list of online tools I've discovered that just make simple but monotonous things easy and quick to do and so here is a snippet of it if you have needs: https://convertio.co/ - converts almost any file type to another and is free! https://123apps.com/ - many PDF tools, Audio cutting, joining, and converting, Video cutting, recording, and converting, and archive extracting (zip files and others) -- also free! https://invoicely.com/ - extremely simple and easy invoicing with reporting - freemium! I hope you find these helpful in some way! [link] [comments] |
Task/Order Tracking Software for a Production Based Small Company Posted: 01 Jun 2020 03:51 AM PDT Hi there, I work for a small knitting factory and need some help with keeping track of orders. I can say that our setup is pretty basic, orders are sent to us by mails, generally as pdfs, and they're printed out and kept in dossiers. I'm in charge of tracking the orders so I would like to implement a setup that I can use on Windows And Iphone. Any suggestions? [link] [comments] |
Posted: 01 Jun 2020 03:44 AM PDT Does anybody have a general based service agreement/contract that I could piggy back off of. I own a small janitorial company, recently been asked to come up with a service agreement. If anybody has a template I would greatly appreciate it. [link] [comments] |
Best web host for Small Business site Posted: 01 Jun 2020 03:28 AM PDT Up until now we have used Fatcow, but over the past week they've been showing themselves to be extremely unreliable. Everything is down and their customer service is slow and inconsistent. They said they were working on fixing the site last week, but now the e-mail is down as well. We have to get away from this and I'd like to know of any reliable web hosts. Thanks! [link] [comments] |
How much do you pay for your PO box or private mailing address? Posted: 01 Jun 2020 03:11 AM PDT I want to get one but some of the price are ridiculous. UPS store does even give out pricing info. [link] [comments] |
Service franchise vs start independent Posted: 31 May 2020 11:17 PM PDT After a long career in corporate I have saved a bit of cash in the bank. With losing my job and being tired of corporate, I'm thinking of doing my own thing. Would like to start a service business that is recession resistant ( e.g. restoration , cleaning, maintenance, fix it). I will be moving to a new city to start it. I have a lot of general business experience but not this industry experience. Would u recommend owning a franchise vs starting independently? [link] [comments] |
[Question]What can i do, to invent a cash register system as cheap as possible? Posted: 01 Jun 2020 02:32 AM PDT Hello, I have two small shops in retail at the moment and I have the feeling I am being robbed. The shops are located in Europe. The problem is, I don't have a cash register system and also through Corona I don't have the financial means to buy one. Do you have any experiences or solutions how I can scan my goods as cheaply as possible and then have an overview of how much of what have been sold, that would be more than enough for a start. [link] [comments] |
Care Package Ideas to Send While Your Employees WFH Posted: 31 May 2020 10:22 PM PDT How are you keeping employees engaged and connected while they work from home? Any Ideas ? [link] [comments] |
Damaged property from protesters Posted: 31 May 2020 04:02 PM PDT Coffee shop in NYC. 2 big windows (84" by 84) got smashed. Space is leased. No insurance. Are there any help or aid from the government that I can get...? If I had insurance, will it cover? [link] [comments] |
Need help starting a car detailing business Posted: 01 Jun 2020 01:07 AM PDT Hi guys, A friend and I are looking to start a car detailing business (for luxury cars) in the UK. We are from a fairly affluent area in the UK and I've done a lot of research and there's room in the market for it, the closest detailing workshop is around 50 miles away (which is a long way to travel for brits, especially older affluent people who will be one of main 4 audiences). I have lived in Asia for the past 4 years working as an internet marketer so I cannot be there physically, but I will be providing the initial investment. Rent for the industrial unit/garage, equipment etc. I don't really have experience as a business owner involving other people so I'm just a bit confused on how to start it, do I pay them a salary or do I let them pay themselves and take an 'affiliate payout' for each lead I can send them etc? If I do it that way, do I make the initial investment a loan instead? We're just not sure how to work out the logistics of everything and how to get started. If someone could point me in the right direction, I'd be very grateful. Thank you [link] [comments] |
Restaurants and other businesses with brick and mortar stores Posted: 31 May 2020 09:17 PM PDT I have some questions to ask you guys primarily for restaurants.
Thank you so much in advance. [link] [comments] |
Keeping track of expenses for tax purposes Posted: 01 Jun 2020 12:53 AM PDT Recently started operating a store where i don't have to pay sales tax just income tax at the end of the year. I have a few questions. I'm in California. From my understanding, the 30% of earnings that i will have to pay is on the amount after all deductions. My questions are primarily on deductions and how "strict" i have to be with record keeping. 1) Do I have to keep receipts from all the inventory I buy at all times? I know the answer is yes, but if i purchase x amount a certain period of time (let's say an average of 2k a month) and one month or just a week out of that month i do not have the receipts, am i able to claim that amount as an expense based on my average/purchase history or absolutely not since no receipt and therefore no deductible? 2) I primarily purchase from big companies that always print out and give a receipt with a breakdown of all items and their name and location etc but I've brought from smaller guys that either don't provide a receipt or write one on those receipts you can buy from an office supply store. Do those receipts count? 3) If the places where I buy my inventory have the name and location, do i need to keep track of gas receipts as well or is the cost of gas deducted since i obviously had to drive there to get it? [link] [comments] |
I need help managing my business (from website/emailing/etc.) Posted: 31 May 2020 08:31 PM PDT So my friend and I run a small online food business. Right now we use Typeform and we get their informations/orders from there and it goes right into Google sheets. From Google sheets, we get their email, have this template on gmail and input their orders and send them an order confirmation. They reply with the proof of payment and we reply that we have received the payment and delivery date. With our business growing, we need to find a service that does this for us automatically. Getting information from google sheets and input to email all that is needed (quantity of products, delivery fee, total, etc) and send to customers. I hope I have made myself clear with this. It's getting hard to manually inputing things. Thank you! [link] [comments] |
Looking for recommended solutions for sales CRM + Inventory Management - small business Posted: 31 May 2020 10:33 PM PDT Hey guys, I own a small growing company. We currently use google sheets but looking for better solutions for sales CRM - we need mainly basic functions, we can add/change anything else later. For the Inventory management - we need functions like: LOT number per item, tracking number per order sent, details of what was sent in each order and purchase management. OPTIONAL: barcodes scanner function, for easier and efficient work. Since we are a small company with somewhat more complex inventory, we are on a tight budget. Do you guys have any recommendation? Thanks [link] [comments] |
Posted: 31 May 2020 03:57 PM PDT Hi! I'm a teenage girl who just wants to start getting into business. https://www.thecaptionmaker.com/captions is my website. I spent a lot of time and energy into making it as good as possible, but now that it's published I've realized that I never considered how in the world to market a website. It's basically on the tenth page of a google search and I want to change that. Does anyone have any advice? Thanks so much and sorry if this is a dumb question. [link] [comments] |
Abstract: Why most small businesses don't work and what to do about it Posted: 31 May 2020 03:45 PM PDT The E- Myth Revisited: Michael E. Gerber
Resources for business plan preparation: http://leeds-faculty.colorado.edu/moyes/bplan/html/templates.html [link] [comments] |
Can I beat squares rate without much hassle? Posted: 31 May 2020 05:52 PM PDT I think I Am at 2.74 percent total of credit card sales. I assume you need millions of sales to negotiate with sales and they would not bother talking to me. [link] [comments] |
Potential new employee can bring client list, potential lawsuit? Posted: 31 May 2020 08:56 PM PDT Hello, [link] [comments] |
Posted: 31 May 2020 04:45 PM PDT Can I use pre-tax income from my LLC on a down payment for a rental house, which will also be under the same LLC? [link] [comments] |
You are subscribed to email updates from smallbusiness: Questions about starting, owning and growing a small business. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States |
No comments:
Post a Comment