How does one make money and wealth via an entrepreneurial venture? small business |
- How does one make money and wealth via an entrepreneurial venture?
- We made a pre order!
- What shipping company you use?
- What would you tell someone who is opening their business what to expect within the 1st 30 days of being a business owner after leaving their job as an employee?
- How do I combine businesses to get a business loan
- Small Tshirt business as an artist
- Help finding packaging
- My 5 year old started her own business today. Show her some love!
- How to propose being someone's business partner??
- Questions Re: First 6months of business.
- Ask a CEO anything
- Beat website builder?
- Business Partner wants to be bought out
- Any others in the Industrial Automation Field?
- Whew do I find resellers internationally?
- Printing labels and packaging in small quantities
- Digital HR department needed.
- Starting a Business right after graduating?
- How Can I promote My new Subreddit?
- Sba loan for small business?
- Best way to advertise?
- Best way to organize schedules?
- Opening second location
- In-Home Therapy
- 30 years old, father, software salesman, and just came into $100k
| How does one make money and wealth via an entrepreneurial venture? Posted: 07 Sep 2020 06:16 PM PDT Imagine I have an affordable product priced at say $8.99 and my cost is 2.99 that's still just a 2.34x mark-up and only 6 per product. How is it even possible for a small business to generate profit? How are people doing it? Yes I'm aware it takes times to build revenue and generate profitability, but HOW are they doing it? Specially when in the world today expenses specially digital ads and influencers and other digital marketing costs are so high! How do small or big companies make profits despite incurring such high costs and high competition in practically every industry? Not to mention so many other costs exist whether you sell online or offline - such as transaction fees, logistics, commissions, distribution fees, etc etc etc etc). Most people say volume is the key but how do you generate volume if you don't put in money into producing and marketing those higher quantities which then pushes back the timeline of profitability? Also when you spend so much money to achieve volumes, don't you spend time just playing catch up instead of generating profits? [link] [comments]  |
| Posted: 08 Sep 2020 02:37 AM PDT I know this isn't that interesting for anyone else but its exciting for me :) we made a pre order before our kickstarter launched. The exciting thing is this customer chased us to get an update because they want our product. Out of interest are we allowed to ahowcase a kickstarter on this sub when we go live? I dont wqnt to break the rules Feels good. Our first £70 in revenue :) [link] [comments]  |
| What shipping company you use? Posted: 08 Sep 2020 03:50 AM PDT Hi, I'm a small business from Australia looking to ship goods internationally. I have some enquires from the US about the availability to send goods over there, but the price is about $25 up to $90 for 5 kg. I also noticed that some companies over here charge $20 for shipping and was wondering how they can charge lower than what's on the market Thanks [link] [comments]  |
| Posted: 07 Sep 2020 05:53 AM PDT I would tell them to be prepared to still have the mindset of an employee. It took me a little bit to break out of the working for someone mind set and in fully embracing the notion that I am now in charge of whatever happens next [link] [comments]  |
| How do I combine businesses to get a business loan Posted: 08 Sep 2020 05:00 AM PDT I started a 'S' corp in 2012 it never did anything and never made any money. In June 2019 I started a 'C' corp. That company has been doing really well and has over $100k revenue. I am trying to expand my business by getting a loan. When I go for a loan everyone says I need to be in business at least 2 years. One of the bankers told me I could have my 'S' corp buy my 'C' corp and then I would show that I have been in business since 2012. Is this correct? What do I need to do so I can show the time from my 'S' but the money from my 'C'? Thanks in advance. [link] [comments]  |
| Small Tshirt business as an artist Posted: 07 Sep 2020 11:37 PM PDT Hello everyone! I make my own handmade tshirts using original drawings and collages. The paper design itself is waterproof (with modge podge sealer and fabric protector ) but because it's handmade and relies on a fabric adhesive to stay on the tshirt, it's not machine washable. So far I've been selling my shirts at $20 because of this. I have two questions for you guys; 1. do you think $20 is a good price for a handmade design on a shirt? I just now started selling my art as many people around me encouraged to do so and I'm not sure when I'm underselling myself. 2. Do you think it's important to mention the shirt is non machine washable or only hand wash while advertising it? That's what I've been doing so far but I don't want that to stop people from buying the shirt. My other option would be is to have instructions for hand washing the shirt on my thank you note I attach to every order. I hope this isn't confusing and I would appreciate any advice beyond this !! Thank you [link] [comments]  |
| Posted: 07 Sep 2020 07:24 PM PDT I'm located in 🇨🇦 and I'm on the search for some flat shipping boxes that are preferably ~7" x 5" x 2", doesn't have to be exact at all just a rough example. So far, the best price I've found is staples that offers 100 for ~$67+tax. Does anyone know a cheaper website to buy flatter shipping boxes? [link] [comments]  |
| My 5 year old started her own business today. Show her some love! Posted: 08 Sep 2020 01:12 AM PDT She asked for money in exchange for doing chores. I told her "nope. You live here, you're responsible for keeping this house nice. You don't get paid for doing your part. Let's talk about other ways you can make money." Once she pays back the initial $60 loan to Bank of Mom the profit will be hers. She's saving for a doll she really wants. Hopefully she will invest in growing her business too! [link] [comments]  |
| How to propose being someone's business partner?? Posted: 08 Sep 2020 12:44 AM PDT I have been working as a marketing consultant for a small business for the last year. I love the job and the owner and I have an excellent working relationship. She's a solo owner and I know that I have helped the business grow dramatically. I've been thinking about proposing being a partner because I'm very invested in the business and know there's much more I can do to help. I have no idea how to have this conversation. I don't have capital to offer, but I CAN offer to work partially for free potentially in return for shares of the business. Are there any other arrangements I could propose that don't involve an outright financial investment? Or any suggestions for how to have this conversation? Or things to think about? I've never done this before so any thoughts are totally welcome! Thank you so much. [link] [comments]  |
| Questions Re: First 6months of business. Posted: 08 Sep 2020 12:29 AM PDT So I opened a mobile automotive repair shop in my area in June of 2019. and due to the COVID pandemic, last year did ~60k we don't operate in Winter ( Maine Business) So we closed in December and planned to open back up in April. Well, that didn't happen due to state lockdown and didn't get to open until August. Year to date (Last Month) we have done 2500.00 and from what I can gather is we seem to be having issues converting customers this go around. I am generating traffic to both our FB page and Website. Potential customers are looking at our FB page or FB Ad, go to our webpage look around and then leave. We operate out of a 8.5 wide x 20 deep x 13 tall car hauler that was converted into a mobile automotive bay with all the shop tools and equipment necessary to perform your typical automotive repairs. The typical labor rate in my market is $115/hr Indie - $130/hr Dealer. We charge 84.99/hr as the Regular Rate | 64.99 Discounted Rate for Veterans, College Students / Large sized businesses we have partnered with to offer our services as a fringe benefit to their employee's. Our Fleet Rate is 44.99/hr and has several businesses that have us do their maintenance. Parts are Net 30 and Marked up using the following formula. Retail = Cost * 1.33 for Regular Rate Retail = Cost * 1.22 for Discounted Rate Retail = Cost * 1.11 for FleetRate Shop supplies are $10 applied to every order. My Operational Costs are 8.78/hr of operation or just under 80.00/day. (Breakeven Point = 1920/mo) ---------- Example: if a brake job is listed in the labor manual as 1hr and you are charged the regular labor rate. Pads & Rotors cost the shop 200 to order and a 10$ shop supply fee is added to the order along with a 5.5% sales tax on the parts. 280.63 in Parts (Including Tax) 84.99 in Labor 10.00 in Shop Supplies Total 375.62 for the Repair. The same repair at a different shop in town would cost around 425. Savings of 50.62$ for that particular job. All of our Technicians are Experienced ASE Master Level Tech's with Chrysler FCA Level 2 Cert along with a Maine State Inspection Cert. We are Licensed, Insured. All of our work is guaranteed for 1 year -12k miles. Our USP / Competitive Advantage is Price With the bigger shops, you cant supply your own parts. Lowest Labor Rate within 30mi Convenience We come to your home, school, or office and perform the repairs in your parking spot, That way you don't have to take time out of work or waste your lunch break sitting in a waiting room. Quality Only ASE Certified Technicians are employed. All Work is backed by a 1-year 12k warranty. We Compete on price and convenience. I know that the other shops cannot support our prices as last year they stopped taking our quotes as a price match. ( How we ended up getting most of their customers at the time.) What can I do at this point, our shop management system sends a CT a message based on service intervals when to come back in. I'm starting to think that because we were mobile and could not operate during the lockdown that all the traction we gained was lost to the other auto shops in the area that were brick and mortar and allowed to stay open. Any Advice? Website is www.davesdiagnostics.com [link] [comments]  |
| Posted: 07 Sep 2020 11:44 PM PDT 2020 has been a rough year for most small businesses. I feel you, I know what its like to be in the gutter. As the CEO of one of the fastest growing e-commerce company in Canada, I would like to give back to this amazing community. Ask me anything, and I will do my best to answer your questions to the best of my knowledge. I hope a little inspiration from someone who's been there, done that, can perhaps steer you in the right direction, in life and in business. No legal or accounting advices please. There's no catch, I'm not selling anything (I have my own company to run.) Please do not DM me. Simply ask your question here; and I will respond in a timely manner. givingback[link] [comments]  |
| Posted: 07 Sep 2020 10:27 PM PDT Hey everyone it's time for me to officially create my business website. Any suggestions on what coders would be best for a leather goods retailer? [link] [comments]  |
| Business Partner wants to be bought out Posted: 07 Sep 2020 09:15 AM PDT I started a company with my friends and we are in the business of selling table top card games. We haven't sold any games yet due to an inability to pay for inventory. Therefore, we were going to raise money via a Kickstarter. The amount of money overall wasn't a significant sum it was just something we were/are lacking at the time. So basically we prepare for a Kickstarter. We start doing everything for the business to raise awareness and build community. We get a business credit card and start contributing fixed amounts each month. The credit card was probably only attainable because of the large number of assets this partner has in stocks. Shortly after all this happens and we start to get real quotes to produce our game I suggest that it's inexpensive enough for us to split the cost. He says no to this proposition. I then say what if I cover the cost and get some more equity for doing so. He says no to this proposition as well. I don't have a lot of money but I would have found it because I believe in the project. So then my parents offer to give us a zero cost loan but I had to disclose to them my friends substantial wealth. He sites that he has some debt and that's why he doesn't want to contribute any more money. So I suggest for him to sell some of his equity to cover his share of money if he doesn't want to put up his own money. He says no buy me out. What am I looking at here? Update: Here is my website to show you what we've managed to do CapitalPunishmentGame.com [link] [comments]  |
| Any others in the Industrial Automation Field? Posted: 07 Sep 2020 09:03 PM PDT Im considering starting an industry automation integration company. Would love advice! My background: I've got a great deal of experience in PID controls and logic for high precision hydraulics. My background is in electrical engineering but I've done a bit of sales as well. What I'm looking for: I'd love to find others to compliment my skill set and help start a successful automation integration company. Sales, mechanical/hydraulic engineering, electricians, really anyone willing to work hard and can bring a new skill set to the party. I've got a fair number of contacts in the industry and have been considering venturing out on my own but would like to make the jump with others to provide a more holistic service from the get-go. Any and all advice is greatly appreciated! [link] [comments]  |
| Whew do I find resellers internationally? Posted: 07 Sep 2020 08:37 PM PDT Hey all, I own a micro-business in clothing. I produce a lot of one-off pieces and have a small but quality following here in my country. However, the pieces I produce seem to be geared towards the higher-end clientele from where i'm from. I live in a third-world country so that doesn't really say much as our buying power is nothing in comparison to other countries. But recently I found quite a bit of success after selling masks (for cheaper than my usual range)-- which are completely market-driven but I believe mine is different in comparison to others. So much so that i've had about 4 articles written about them... as well as international orders randomly coming in. The thing is, being such a small team, we completely burned out. Everyday was a constant hustle-- working 12 hours long everyday. and income was good but margins were incredibly small. So we quit. I recently checked Etsy out and it's crazy how much more the mark-up is for these products. I think it obviously has something to do with labor costs as well but it's like 4/5 times the price we sell for here. Which gave me the idea of exporting my products instead. It would definitely be cheaper for the resellers plus i am confident my quality is top-notch. Definitely value for money. The problem is finding where to get these resellers? Honestly, i find myself a really good creative but my business sense is definitely lacking. But i'm really working on it. I went to art school, i'm surprised i've managed to stay in business for as long as I have. Any leads and suggestions on where to start would really be appreciated. TIA. [link] [comments]  |
| Printing labels and packaging in small quantities Posted: 07 Sep 2020 08:10 PM PDT Hello all- I'm starting a small massage skincare business (with different fragrances) and I'm in the test phase, so I want to create a few sample fragrances for my family and friends with professional labeling and packaging (so I can narrow the fragrances down from 8 to 4 based on their favorites). I also want to take professional pictures for my website. The problem is, most online labeling companies want me to print a minimum of 50 labels. I have 8 fragrances so that will add up fast (8 x 50). Plus, I don't need 50 of each at this time since 4 fragrances will eventually be discontinued based on favorites. Any idea where I can print labels in smaller quantities pls? Thanks in advance! [link] [comments]  |
| Posted: 07 Sep 2020 11:20 AM PDT Reddit community, can anyone recommend a company that can handle HR digitally for a company of 5 people? Thanks!! [link] [comments]  |
| Starting a Business right after graduating? Posted: 07 Sep 2020 07:59 PM PDT I'm going to university for Accounting and want to start a bookkeeping firm after graduating. I want to take risks while I'm still young. Does anybody know anyone that has done this. Ideally after graduating with my Accounting degree I would like to start my own bookkeeping firm instead of getting a job at a firm. [link] [comments]  |
| How Can I promote My new Subreddit? Posted: 08 Sep 2020 03:05 AM PDT Hello, I wanna learn how I can actively promote my subreddit to get a steady stream of subscribers daily.. This is my subreddit here.. r/GiveAways_Freebies Thank You For Your Suggestions. [link] [comments]  |
| Posted: 07 Sep 2020 07:10 PM PDT Hey guys quick question about sba loan if anyone is familiar? We purchased a business with property 2 years ago with owner financing (we pay the previous owner monthly and he pays his mortgage until we qualify for our own loan). Our first year was a loss of $40,000 second year was a profit of $60,000 thousand. We are looking to double the second year if not bit more. We need to secure a loan after third year as owner financing terms are coming to an end. I'm curious if we would qualify for sba loan ($400,000 remaining). Personal credit is great (740). I'm looking to open a business credit this month, I feel I'm a bit late, but hopefully it'll help build more credit. Would all this allow us to secure sba loan? Any thoughts or suggestions? [link] [comments]  |
| Posted: 07 Sep 2020 12:50 PM PDT Store is a produce market (fruits and veggies), on a busy street, low income area, average customer is 50+years old. The traffic that I get is mostly people seeing it from the street. Store is highly visible but no problem there. I want to target people that don't "happen to drive by". Will fb advertising work for this age group? Should i send flyers, and don't people just throw spam mail away these days? Send flyers with coupons? Create a rewards type of thing with a card and stamping it to get x% off on the 5th visit? Any ideas? [link] [comments]  |
| Best way to organize schedules? Posted: 07 Sep 2020 10:41 AM PDT If this is not the right place to ask, please point me in the right direction. All advice appreciated! Also, I'm on mobile and so my formatting may suck, I apologize in advance. I'm a virtual assistant for a small cleaning company out of a popular tourism destination. We generally deal with short term vacation rentals on a private basis, as well as management companies. We take care of about 800 units between all of our clients. The problem is that our scheduling system is a mess and I have no idea how to make it better. We have owners that email us, text us, and the property management companies all have different platforms. Does anyone know of a software or system that could help us streamline this, at least for those who email/text their schedules in? I've been searching for a software that could allow us to import schedules from our management companies, and allow private owners to book their own, or import emailed schedules for the owners that refuse to book themselves. If the management companies still have to be manual entry that's fine, but attempting to organize the email system has so far been futile as the owners generally leave me out of the conversation so I'm missing key details, and it turns into a mess. Currently we use a scheduler which has an option for them to book themselves, but no one will. Really I'm pretty worn out searching through the different softwares and coming up with nothing that will help. Thanks! [link] [comments]  |
| Posted: 07 Sep 2020 01:53 PM PDT Hey guys, Been a long time lurker here, but first time posting. I run an extremely popular alterations and tailoring shop in my home town. I've promoted someone to management and through her and my team we've seen a lot of upward growth even with Covid. We see about 15-20 brides a week, and about 10-20 people a day for alterations. We've capped out our team capability, but I have 1 more unused machine that could be utilized to increase throughput. One of the most popular alterations shops down south of us by about 15 miles in another upscale small city area closed their doors 2 years ago. The owner retired, not for lack of work. So my question is this: If you were in my position, would you consider opening a small (300-500 sq/ft satellite location with a staff of two, using our popularity and reputation to drive business? My goal would be to outfit a pressing and steaming area and move or purchase one to two sewing machines to have some work and tweaks done on premises. The lion's share of the work would be carted back to our main location where management can confirm QA, with pickup of finished satellite garments happening at the satellite location. By my estimates based upon analysis of prior years and adjusted for inflation we should realize income that doubles operating costs yearly. What would you do in my position? Hire one more person to increase throughput and maximize income or expand to a new area? [link] [comments]  |
| Posted: 07 Sep 2020 05:21 PM PDT Hello all! I hope that you are all keeping well in these uncertain times! I am a therapist and special education teacher from Toronto, Ontario, currently working at a private school. I have knowledge and experience with both the ABA and the DIR model. I have worked at centres, in-home, private schools, and public schools, with children with various special needs, and I would really like to offer my own services privately. I am just wondering if anyone has any idea on how I can make this transition in starting my own in-home therapy business? Are there any particular licenses I would need to get? Or is there is any way I could make myself recognized by the government so parents can get subsidy to pay for my services? Any advice would be greatly appreciated. Thank you in advance! [link] [comments]  |
| 30 years old, father, software salesman, and just came into $100k Posted: 07 Sep 2020 08:11 AM PDT Reason for the post is, what to do with the $100k? I've been in real estate for years but honestly in my area you can't make money off real estate right now unless you have A LOT of money. To give you an idea, you need 25% down for an investment property. After closing costs, I have maybe $90k to invest. That will maybe get me a 2 bedroom condo where I would be lucky to break even each month on rent. I sold my place because it's in the city and everyone is moving out, causing mass vacancies. Lots of people tell me to put it in stocks, but I'm honesty a terrible stock investor. I started investing in 2010 and I'm pretty sure I'm at an all time net loss. I just don't have the cranium for it. Thoughts? Ideas? [link] [comments]  |
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