How do you have a successful Etsy shop? Serious only please small business |
- How do you have a successful Etsy shop? Serious only please
- Would this be useful to you?
- PPP Loan Forgiveness Balance
- Opinion on E-mail Address
- Pricing advice
- Some advice starting a business
- Handmade crochet business...
- Tips on finding and screening investors
- Does anyone here work full time for an employer while doing business as a sole proprietorship?
- My favourite small jewellery businesses!
- In need of financial support for my business
- Adding a new service to my existing business. Should I give 10% to my CURRENT customers as incitative ?
- Are there any standards/baseline for qualifying for loans and lines of credit? It's all so vague.
- Need a "resellers" permit, is it the same thing as a seller's permit?
- Dry Cleaners accounting
- Business Credit Card vs. Business Checking Account. Is a checking account necessary?
- Writing off assets without ever having revenue
- How to add FLOATING ACTION LINK BUTTON to ones Instagram page?
- Skill-Based Esports Business - Banking Question
- How does one convince their landlord that you quit your job to start a business?
- Owners near retirement, what do you plan to do with your business?
- Best bank for a new service business?
- Software or online solution for printing checks and tracking 1099s
- Question about equipment and tax write off
- Raising Capital for Commercial Property
| How do you have a successful Etsy shop? Serious only please Posted: 02 Dec 2020 09:36 PM PST I have been unemployed since March due to covid and being immune-compromised. My unemployment runs out in a couple of weeks. I have been trying to start a small business working from home. At the advice of a successful small business owner who now assists others in being successful, I have opened an Etsy shop, started a Facebook group & page, started a tik-tok, and Instagram. I have had hundreds of views and so many telling me my inventory is adorable and prices are on point, but no one has placed orders yet. I am trying to help my husband bring in money for our family while working from home due to ongoing health issues, but I feel like I have wasted all the money I've spent acquiring supplies. I even am offering shipping below what I would get charged at the post office.Does anyone have any suggestions or insight? I will include my link for those who may so you can see what I am offering and where I may improve. Thank you!! 💗🙂my link for those willing to take a look [link] [comments]  |
| Posted: 02 Dec 2020 09:25 PM PST Question: Would you be interested in reading a series of articles explaining the process of software development? Topics would include
The articles have not been written, but based on conversations we have with clients and prospects, I think this info would be useful. I'd just like to hear from you if you think it would be useful to you? [link] [comments]  |
| Posted: 03 Dec 2020 05:03 AM PST So back when the world started ending I applied for the EIDL grant which was 1k per employee for our business. I received the funds (10k), but then the PPP loan program came out so I did not pursue the rest of the EIDL loan process. Long story short, we got approved for a 100k PPP loan. There was a lot of uncertainty going on so I wasn't entirely sure we needed it but it was there so I took it. Fast Forward to time for forgiveness, I applied for 100% because I met the quota and was able to put the funds to use in a manner in which they were meant for. Forgiveness process was a little painful, but after submitting literally everything I had I received an email that our application was accepted but I would owe the money for the EIDL grant. They said they would mail me our balance but if I wanted to, I could access it on our online banking portal. Unable to locate it online, I requested an emailed copy of the balance of the loan. This is what I received... "Good evening, Your PPP loan balance is 2,079,860.00 as of today 12/02/2020. Please let me know if you need anything else. Have a great night" Kinda freaking out, this has got to be an error right? Bank doesn't open for another hour and a half... Anyone else have a similar story? [link] [comments]  |
| Posted: 02 Dec 2020 07:33 AM PST As a small business with limited funds currently, should I create our own business E-mail? We currently use Gmail, but are considering changing to a business E-mail. For example: sales@ XYZcorp.com. I'm just looking for general input on whether this is a good investment or not. Thanks! Edit: Added space in E-mail address to remove link Edit 2: Thank you for all of the feedback! I wish I could respond to everyone, but I wasn't expecting such a response! I appreciate all of the comments and will review everything as I move on to the next chapter for our business. [link] [comments]  |
| Posted: 02 Dec 2020 03:51 PM PST Pricing advice Hi, I'm new to selling my ceramics and I just got my first custom commission (4 mugs with different hand carved images). I'm not really sure what to charge, she's a friend of mine and I am by no means an expert but I still want my price to reflect the effort. Does anyone have any advice or similar experiences? Thank you! and I'm sorry if this is an "inappropriate" question [link] [comments]  |
| Some advice starting a business Posted: 02 Dec 2020 06:10 PM PST Hey all..looking for some opinions on something I've been battling with recently... Quick history..I'm 39 years old and have been in the construction industry for about 20 years. My goal has always been to start my own business and think the time has come. I have a great opportunity and could potentially land a large 6-8 month job in the spring. My only problem is, my current job.. been there 11 years, company truck, tools, insurance, $100k a year (I live in New England which is about average for someone with my experience)..job is good, but management is terrible.. I have a 2 year old son, and my wife is a stay at home mom, so I bring in our only income. I have about $30k that I have been putting aside for this, and have excellent credit shall I need a small loan. This is not something I'm doing on a whim, and have all proper licenses, insurance, etc.. I guess I'm just looking to see if you think I'm crazy for giving up a good job, for the unknown. I'm sure I'm not alone, but change is terrifying for me. I know it will work out, just super nervous about it..thanks for listening [link] [comments]  |
| Posted: 02 Dec 2020 07:00 PM PST Hiiiii, so I decided to start selling my crochet items, hats scarfs, blanket, and cardigans etc, I just made an account on Etsy but I'm struggling trying to get people to buy my stuff. How can I improve........... help meeeeee!!!!!!! Lol [link] [comments]  |
| Tips on finding and screening investors Posted: 02 Dec 2020 08:00 PM PST I work in traditional media and am building a nice little company having gone from $200k gross to $1M gross in the last two years through acquisitions. It's standard to net between 15-20% after debt service, and at 100% ownership, with some side consulting, I'm growing comfortably. I can grow my company to about $5M a year with no outside investors over the next four to five years. That said, COVID is turning the industry on its head and there will be an influx of potential acquisitions this Spring. Rather than picking up a couple more $500k/yr properties, or a small group making $1M a year I want to put together $500K to finance about $5M in purchases and get on the bigger broker's radars I'm not excited about losing 100% control, but without doing so I'm not going to raise enough cap to take advantage of the, for lack of a better phrase, blood in the water. Does anyone here have experience raising funds for industries in decline? [link] [comments]  |
| Does anyone here work full time for an employer while doing business as a sole proprietorship? Posted: 02 Dec 2020 07:29 AM PST I currently work full time, but I am interested in starting an e-commerce business as a side hustle. Based on my research so far, it looks like I will need to get a sellers permit for my state (VA) and a DBA (I don't think I need to get an FEIN for this as I can use my own SSN, but was wondering if it is better to get an FEIN/what the benefits were). I would rather not have my current employer know about this endeavor right now as 1) everything is being done outside of working hours, 2) the side business has nothing to do with their line of business, and 3) I'm concerned about being perceived as less committed to my current role. Is anyone in /r/smallbusiness in a similar situation? Is your employer aware of your side business/do they care? If they are aware, what is that dynamic like for you? If they are not aware, are there any risks to them discovering it? Thanks for your help! [link] [comments]  |
| My favourite small jewellery businesses! Posted: 02 Dec 2020 09:28 PM PST for anyone looking for small business jewelry brands to support... As an avid jewelry lover, I thought i'd share some great small business jewelry brands!! Good for gifting or treating yourself!! I'm very picky when it comes to jewelry, and these are brands that have never disappointed me in their quality or customer service! On etsy... shopplumbijoux — based in montreal canada, gorgeous and pretty reasonably priced solid gold and silver jewelry!! Definitely dainty designs MyTreasureGem— based in montreal as well, i love their 10k twist ring in particular. A mom run business! EmeryandOpal— again montreal, love their necklaces! got opals( like the name suggests) and other semi precious stones. Their jewelry is gold filled or sterling silver! augustcarolineco— toronto canada, super dainty and trendy gold filled and sterling silver pieces. Their paper clip chain is the perfect dainty size!! MathewandMarieCo— massachusetts usa, i love their unique designs!! got stones and cool ideas like honeycomb. 10k14kgold— usa, go to for solid gold chains and traditional type pendants at a reasonable price MiniMoreJewels— toronto canada, super elegant designs in silver or gold filled. I love their earrings! beverleyandfern— mississauga canada, amazing quality simple sterling silver jewelry!! think minimal and cute SarahTaylorDesigns— west vancouver canada, such high quality sterling silver chains, also love their rings and stand out gem necklaces Off of etsy ALLICIANTE jewelry— gorgeous 14k solid gold brand, their small senorita hoops are a personal favourite KINN jewelry— 14k solid gold, asian american owned and so high quality. heirloom type investment pieces [link] [comments]  |
| In need of financial support for my business Posted: 02 Dec 2020 08:07 PM PST Hi everyone, I'm 21 years old and I have my own small business. I started it in late March, launched in April and It blew up in May. I decided to do Pre-Orders which caused me to fall behind on my orders and I have one last shipment I need in order to be caught up. The problem is I was making much profits and my supplier is in China so it took 30 days for the production and about two weeks to a month for shipping. Also, my vendor ended up sending my last shipment to the wrong address which caused me to become more behind. This caused me to loose my Shopify account as it is frozen and I decided to just let it go and focus on just shipping out the remaining orders. I am not eligible for a business loan as I do not have a business bank account at the moment. Would anyone be interested in helping me with a small business grant or some sort of small donation? I am really in a dark place right now and this is my last hope. If you want to know more about my situation or would like to help me, please feel free to reach out to me to via dm! Thank you! [link] [comments]  |
| Posted: 02 Dec 2020 04:21 PM PST I own a window / gutter cleaning business and I have over 700 customers around town. Unfortunately, I get to work only from april until november. This year with all that has been going on. I decided to start a residential rooftop snow shoveling business. 1 is because I have over 700 clients and the business name is already established 2 is because we get TONS of snow here during winter I'm starting to get the word out on facebook but I have near 1k e-mail and I would like to do an e-mail blast to all the people. Should I offer 10% to my existing client as '' thank you '' for already using my services and it's also an incitative to support our business or I'm better not ? I want to have others expert opinion before I do this move because I think this could be a nice opportunity but I'm sure there is cons to this. Thanks for your precious time. [link] [comments]  |
| Are there any standards/baseline for qualifying for loans and lines of credit? It's all so vague. Posted: 02 Dec 2020 07:28 PM PST Background: Starting a business next year hopefully. I have 2 other partners who will help me. Basically, we are looking at personal loans or personal lines of credit. Question: Is there any general standards for credit score and credit history that will help me to know when I will qualify for different loans/lines of credit? Some places give general standards for credit scores, but are incredibly vague when it comes to how much credit history you need to have. For example, I have had a credit card for over a year and have been always paying on time. Is there a mathematical formula that's like "Amount of Months You've Had a Credit Card" x "$3,000" and that's how much you would qualify for...as long as your credit score is above 750? Overall, I don't want to simply apply everywhere, get constantly shut down, and have my credit go to hell because I'm applying everywhere. [link] [comments]  |
| Need a "resellers" permit, is it the same thing as a seller's permit? Posted: 02 Dec 2020 03:20 PM PST My sellers permit was done online due to covid-19, I never received a number for it. If it's the same, should I reapply for a seller's permit to be able to enter a resellers permit number when applying for wholesale? [link] [comments]  |
| Posted: 02 Dec 2020 06:50 PM PST Hi guys I have a dry cleaning plant (bigger location with machines for cleaning) that averages 40k sales a month (pre covid) with 8 employees would using an online book keeping service such as quick books/xero/wave be good for it? Would it help with calculating tax payments (employee/sales) [link] [comments]  |
| Business Credit Card vs. Business Checking Account. Is a checking account necessary? Posted: 02 Dec 2020 11:52 AM PST I have pretty good credit around 780+. I've never missed a payment and never spend more than I make. I guess my question now is what would be the point of having the business checkings? I still have payments I make other individuals for my business like photographers, contract workers, etc. Would those be useful for the business checking account instead? Also, how should I file my taxes if I use only my Business Credit Card account? I'd like to be able to add in my business purchases, but I pretty much purchase everything with my Business Credit card account. [link] [comments]  |
| Writing off assets without ever having revenue Posted: 02 Dec 2020 08:44 AM PST Hi, considering starting a mobile machinery repair and maintenance company. Startup costs in this industry are immense. Mechanics trucks new are around $200,000, and a well used one will run around $80,000. Tooling will be $10-20K as well. I am thinking of forming the business, getting the name, getting LLC, etc etc and starting to acquire assets under the business, with my personal money. The business would likely not have any customers for a year or so while I acquire small assets. When its time to take the leap, ill pull a larger loan ($200K or so) then get insurances squared aqay and transition to that full time. With all that in mind, is writing off these assets without producing any sort of revenue legal? I know writing off losses are a thing, but even with ZERO income? [link] [comments]  |
| How to add FLOATING ACTION LINK BUTTON to ones Instagram page? Posted: 02 Dec 2020 05:17 PM PST |
| Skill-Based Esports Business - Banking Question Posted: 02 Dec 2020 01:17 PM PST Hi everyone, New here but came seeking advice. My partner and I are developing a skill-based esports gaming website. During business development - we've been denied from multiple online business banking accounts due to the "gambling" aspect. There seems to be a lot of grey area between skill-base and true chance gambling - but banks seem to not want to dabble in that area. I'm pretty confident we don't need a gaming license (like for a casino or sports betting) - so does anyone have experience with this? Anyone know of any business banks that provide to businesses like ours? Apologies if this is a popular topic elsewhere - thank you! [link] [comments]  |
| How does one convince their landlord that you quit your job to start a business? Posted: 02 Dec 2020 11:45 AM PST If you don't move back to your parents or already own a house, you're probably renting out a flat/apartment. So a sudden loss in income from a full time job can lead to eviction, regardless if you have the savings or your business is successful in the next 6 months. So how does one convince their landlord that you quit your job to start a business? I feel like I'm missing the elephant in the room here as its quite a catch 22. [link] [comments]  |
| Owners near retirement, what do you plan to do with your business? Posted: 02 Dec 2020 02:39 PM PST I've been researching the SMB transfer / broker space and was shocked by the number of SMBs (both employer and non-employer firms) owned by those near retirement, despite relatively few business listings on sites like BizBuySell, Facebook, Craigslist. I'd love to hear from current business owners about their plans going forward:
Happy to consolidate any responses or DMs into a nice summary and post back here. [link] [comments]  |
| Best bank for a new service business? Posted: 02 Dec 2020 01:02 PM PST Hi all, I'm in the midst of stating my first business, how EXCITING and TERYFING at the same time - haha :) I've been doing some research on my own, but would love some of your input on choosing the right bank for my business - here's a few information about my business and logic I'd like to use for choosing the right bank:
Any suggestions or tips for potential Banks would be AMAZING and very helpful. Thank you! [link] [comments]  |
| Software or online solution for printing checks and tracking 1099s Posted: 02 Dec 2020 08:55 AM PST I have a small contracting business and am looking for a simple software solution for printing checks and creating 1099s at the end of the year. I don't need anything fancy like quickbooks, it's way to in depth for my needs. It would also need to be able to print on blank check stock (like you get from staples). [link] [comments]  |
| Question about equipment and tax write off Posted: 02 Dec 2020 08:53 AM PST I just opened a one-person LLC. I have an EIN but have yet to open a business bank account. I use an Apple program and have done it on my phone and tried it in my iPad; it can be done but is extremely tedious. I need to buy a MacBook. How can I write this off as a business expense? I'm not even sure it'll be possible, as I haven't had any purchases as of yet. I have no idea what I'm doing in this regard. [link] [comments]  |
| Raising Capital for Commercial Property Posted: 02 Dec 2020 11:37 AM PST Looking to start a wellness/plant store in my town. I have a somewhat comprehensive business plan with several avenues of generating revenue. I have a space picked out which used to be a chain feed and supply store. It was on the market for a while listed at 499,999 but was taken off the market because it was not selling and the owner ran into financial problems. I contacted the real estate company is was under and they said the owner was looking to sell it again. I have no capital as of now and this is a big dream of mine that is backed up by market research and a good business plan. Do I approach the property owner with an idea of renting to own the property? How do I finance the property? How do I get the capital to buy the property to actually start generating revenue? Is it possible I could negotiate the price down since the property has been sitting for a while? I'm looking into securing a small business loan of <$100,000 for POS, Stock, property adjustments, very limited payroll, and supplies. Where do I begin? [link] [comments]  |
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