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    Friday, January 29, 2021

    I don’t know if I can do this anymore small business

    I don’t know if I can do this anymore small business


    I don’t know if I can do this anymore

    Posted: 28 Jan 2021 02:17 PM PST

    I've been working at my parents shop for the last 3 years since my dad got diagnosed with luekemia and passed away. Him and my mom were the team that lead this place to 30+ years along with the staff that has been with us through it all. I'm 24 and I run this place with my mom now. Business has been good but it feels like we've had such terrible customers lately. I've never argued & yelled like this before and it just feels like too much to handle. The customer ISN'T always right, we know what we're doing & the guys in the warehouse know what they're doing. If we're wrong about something then we admit it no problem. How do you get through these times? I feel like I'm way too stressed for my age.

    submitted by /u/aguilarfilm
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    What gave you the ambition to start a business guys?

    Posted: 28 Jan 2021 08:25 AM PST

    I need some inspiration because all I have right now is "I wanna make money so I can buy and get things I've always wanted" and I know for a fact that isn't sustainable!

    submitted by /u/NemesMemes
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    Buying a car to have in my s corps name

    Posted: 29 Jan 2021 02:09 AM PST

    Can someone provide a step by step guide on how to purchase a vehicle that will be in my business name? I have an s Corp.

    I don't plan on getting a loan, just buying the vehicle outright.

    Thanks for your help!

    submitted by /u/duellist17
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    Has anybody had good experiences in a Rotary Club?

    Posted: 28 Jan 2021 05:55 PM PST

    A few years ago I was invited to a rotary club meeting with 0 knowledge of it and was kind of a dear in headlights. Everybody went around the table and gave their little pitch and were prepared with slides and handouts. Then it came around to me and I was like " huh? I have to talk!?" I winged a pitch on the spot. I felt a little embarrassed I wasn't prepared nor knew what to expect. But I've considered giving it another shot lately. Has anybody here had any good experiences?

    submitted by /u/ExcitingLandscape
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    Is this legal?

    Posted: 28 Jan 2021 09:05 PM PST

    I'm gonna buy some shirts and sell them at the flea market but I dont have a license. Was gonna use the money for inventory and the business license and seller's permit afterwards. I know I might be penalized or fined so was looking for a loophole or something to at least try it out. Would appreciate some answers or feedback. Thanks.

    submitted by /u/whoknows02
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    Where's my seller's permit number?

    Posted: 29 Jan 2021 12:24 AM PST

    I got my reseller's license and I'm trying to sign up for a distributor but it's asking me for my seller's permit number. Is this my EIN? It also asks for my EIN so I don't know what they're asking for.

    submitted by /u/OppositeLockMoto
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    [Course] How to take my Brick & Mortar business online

    Posted: 29 Jan 2021 12:03 AM PST

    Create a fully functional eCommerce website for your store to start selling now and gain a strong online presence fast and easy: https://moosend.grsm.io/brick-mortar-business-online

    submitted by /u/TwoBigDreams
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    Deadstock Nike/Y2K Vintage

    Posted: 28 Jan 2021 11:44 PM PST

    Hey there,

    Im looking for a supplier from the EU who can do a wholesale with Nike Vintage (Deadstock) clothes for my depop shop.

    submitted by /u/veater-3
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    Should I be attempting this?

    Posted: 28 Jan 2021 07:07 PM PST

    I am starting to freelance as a graphic designer. I don't really know what I'm doing yet on the business side all I know is I love to design things for different people and different things. I feel like so many business owners and freelancers have experience from a previous job that carried over. I actually skipped working full time I got into graphic design like a month after my high school graduation basically unplanned, and the more I studied it the more I wanted to freelance. My question is is there anyone here that just started their business right away? And will clients take me seriously since I'm so young. I've read a lot of stories of people saying they wish they would have started their business sooner and how much they prefer being self employed. For some reason I feel like I haven't worked enough to start freelancing.

    submitted by /u/SnooSquirrels4307
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    Personal use of company vehicle by co-owner.

    Posted: 28 Jan 2021 06:30 PM PST

    I'm having trouble finding any information on the matter. Everything I come across seems to only be targeted to employee use. We are an S Corporation, two co-owners, so would we count as employees and as such any information regarding employee use would apply? Any links or articles with info on the matter or personal experience would be much appreciated.

    submitted by /u/Elzath911
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    Selling my dropshipping store

    Posted: 29 Jan 2021 01:24 AM PST

    Looking for a buyer for my dropshipping store.

    • Fully automated art supplies webshop in English & French language.

    Timeline

    Launched November 27. 2020. First 7 day's revenue: 6,344 dollars. 25% profit margin when including ads cost, processing fees & product cost, resulting in 100 orders.

    December 5 2020: My Facebook ads account got restricted due to failed payment. I used a visa card for the payments, which had a limitation to how much I could spend on foreign websites (this is something my bank does to prevent fraud and the alike), and that included Facebook ad payment unfortunately. I tried to explain to Facebook that money was not the problem, but they didn't care.

    Fast forward to Janurary 2021. I opened another ad account under a different business manager. Secured the payment with a mastercard instead (no bank restrictions), and there hasnt been a problem with facebook ads ever since.

    Januray 10 2021, start of new ads account. Went slowly, didnt scale as aggresivly as december. Janurary 10 - Janurary 23 2021 - revenue: 1,843 dollars. 20% profit margin resulting in 22 orders.

    Some stats:

    • Total revenue last 60 day's: 8,099 dollars - 24% profit margin - 122 orders.
      • - PLEASE READ: I've used the same Shopify subscription for 2 previous stores to avoid paying double fee, which means my revenue is spread across a 12 month period in the exchange marketplace listing instead of 2 months.
    • Total day's of active advertising: 20
    • Online store sessions last 60 days: 6,229
    • Total ads cost: 2,100 dollars
    • Average order value: 71 dollars
    • Total social media followers: 1100

    Whats included in the purchase?

    Everything from domain, logo, graphics, advertisement graphics, website content to Facebook ads account, google analytics, facebook page & instagram page.
    I'm here to sell the whole store, which means everything linked to it and its running

    For those of you who are interested, here is a link to exchange place:

    https://exchangemarketplace.com/shops/pickyourpens-com/preview/e58e504ffb011f968473

    submitted by /u/MageJayzer
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    SharkTakeover - What do you guys think about that name?

    Posted: 28 Jan 2021 09:14 PM PST

    Hey, so I just was searching for a good domain for my new business and came across this name with .com ending.

    What do you guys think about that name?

    What business can I create around it that fits?

    What do you feel when you hear that name?

    I feel so lucky that I got this domain before any GoDaddy or Namecheap employee

    submitted by /u/dieterwurm
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    Paying yourself with an LLC

    Posted: 28 Jan 2021 05:20 PM PST

    I apologize if there is a thread here of this, because I've been looking through them and not getting my answers so let's me try this..

    My brother and I started an LLC. We both own 50% of it. I am trying to figure out a good way to pay ourselves. The company is a painting & remodeling company. So what im trying to figure out is: How much % does the business pay in on taxes? How much % do I personally set aside for filing my own personal taxes?

    I'll outline how I imagined doing it. Every job completed, 30% of that check is put away/savings 70% is left in the main business account

    Every 3 months, that 30% of each job accumulated, I will pay in Quarterly on Business estimated taxes.

    I was planning on paying the two of us, $22/hour each. (This would come out of the difference, that is left in the main account)

    From there, let's say, the 80 hours in two weeks at 22/h, Which is $1,760.

    I would take 30% of that, and stash that away ($528)

    At the end of the year. That saved money is payed into my personal taxes.

    Is this making sense or am I completely doing this wrong. It is tricky for estimating things because this is our first year. So am I way out of left field or getting somewhere.

    My biggest thing is really how much should I save for taxes?

    I apologize if this is repetitive. I would love some feed back tho🙏

    submitted by /u/LilacCarlo
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    Payroll Question

    Posted: 28 Jan 2021 07:30 PM PST

    My boss had me put onto the business account so that I am able to sign checks. He told me to write myself my own check every week along with the other employees. Is this a bad thing to do. Should I start having my boss endorse my checks instead of writing one to myself them me endorsing it??? Please help.

    submitted by /u/Chemistwannabe01
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    How to Resolve First Draw PPP Loan “Unresolved Borrowers” and Hold Codes Procedural Notice to be Published Today Jan. 26th

    Posted: 28 Jan 2021 03:19 PM PST

    Second Draw PPP Loans

    How to Resolve First Draw PPP Loan "Unresolved Borrowers" and Hold Codes

    Procedural Notice to be Published Today Jan. 26th

    https://www.sba.gov/sites/default/files/resource_files/Slide_Deck_Platform_Procedures_for_Resolving_Hold_Codes.pdf

    submitted by /u/9mmNATO
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    Problem Validation Survey eCommerce

    Posted: 28 Jan 2021 06:38 PM PST

    I'm working on some customer discovery. If you have an eCommerce store I'd love your feedback
    https://forms.gle/xnMV9tmt4QVdbR837

    submitted by /u/gilloglym
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    Ppp ready capital emails still no update on status same under review

    Posted: 28 Jan 2021 08:38 AM PST

    we have underwriters for and you'll also be able to review and approve this amount when you sign your contract note.

    Loan Status: Under Review

    Check your application status in real time here.

    ​​Please note that the SBA has designed this round of PPP funds to last much longer than previous rounds and have taken specific steps to ensure the money lasts.

    Some of those include:

    New calculations of Round 2 loan amounts, which may lead to a reduced loan amount across the board Limiting the maximum loan size to $2mm opposed to $10mm in the previous rounds Greatly slowing the rate at which loans are approved More enhanced verifications on the SBA side This does not change our goal of getting you funded as fast as possible and does not change your place in line with us, but we want you to be in the know when it comes to this round of PPP.

    ​​Stay tuned, we'll be sending updates frequently, we're making great progress and we look forward to getting you funded!

    FAQ – What does my stage mean? New = We have your signed application and it's being prepared for underwriting review Under

    submitted by /u/Complex_Court3839
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    Anyone in the roofing business? Would love your input on some questions I have

    Posted: 28 Jan 2021 06:13 PM PST

    I am looking to partner with some local roofing businesses in my area and before I dive into it I had some questions. Curious to hear from people in the roofing industry (specifically in the US)

    1. How much of your business is typically from people reaching out for emergency roof repairs?

    2. Are most roof repairs an easy cheap fix or is it usually something major possibly requiring a complete replacement?

    3. What are typically the busy times of year and do you notice during certain weather conditions the amount of work you do increases? (For example if a rain or snow storm occurs, do you notice a lot more people will call in for an emergency roof repair?)

    4. What would you say is the breakdown of your services? (E.g. is a majority of your business from smaller roof repairs, gutter replacements, whole roof replacements?)

    5. How do customers find your business? Word of mouth? Advertising? Social media? Google search?

    Appreciate any insight you can provide. Thanks in advance.

    submitted by /u/JediOnTilt
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    Companies that are truly sustainable. NO GREENWASHING. It's 2021

    Posted: 28 Jan 2021 05:35 PM PST

    Hi everyone! Went down a rabbit hole of various websites, communities, discussion forums...you name it to find a list of businesses that include everything about their supply chain and are end-to-end sustainable. Starting a sub-reddit https://www.reddit.com/r/ConsciousBusinesses/ to have discussions on this topic and identify players in this space who are truly making a difference.

    submitted by /u/auctorz
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    First Time Filling LLC Partnership - Partner Disappeared

    Posted: 28 Jan 2021 05:25 PM PST

    Hi there, started a 50/50 business a couple months ago and my partner literally disappeared in Dec. He was institutionalized for a bit but no one knows where he went after...

    Not sure where to start in general and if my partner being absent even matters? I'm the managing partner the way IL sees it.

    Do I file as self-employed or do I need to do the LLC completely separate?

    Should I just do TurboTax or something? I have all income/expenses documented.

    Any guidance would be greatly appreciated!

    submitted by /u/0cchi0lism
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    Business Partnership Goes Splitsville... One Ends Up Successfull, One Is Struggling -What’s Your take?

    Posted: 28 Jan 2021 05:11 PM PST

    Business Partnership Goes Splitsville... One Is Successful, One Is Struggling - What's your take?

    I'll keep this short.

    Let's say there's 2 people. Person A and Person B.

    A had a business partnership with B. Both were all in. Dedicated and had the same vision.

    About a few months later they split it up because they thought it was best. No bad blood. Still friends. Still kept updating each other about they're progress

    However...

    One year after the partnership ended. A ended up getting some help and succeeded in business. Started making money became successful wtv …

    Through the course of the year A never told B anything about his success.

    But after the 1 year, let's say A give B all the juice/knowledge to succeed. But never told B he got help or how he learned all this new info.

    Is A a bad person?

    submitted by /u/drippy1817
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    PH-based POS provider

    Posted: 28 Jan 2021 04:45 PM PST

    Anyone know if there is a PH-based POS provider that integrates with Shopify?

    I am looking for a POS that can provide seamless offline-online inventory management as my online store together and my brick and mortar with be drawing from the same inventory.

    submitted by /u/LifePathSeven
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    Looking for quality Bookkeeping/Accounting Certificate Program Online

    Posted: 28 Jan 2021 07:50 AM PST

    Hey Reddit,

    Has anyone completed an online Bookkeeping/Accountant Certificate program that they could recommend?

    I just wasted 1 day of my life in the $579 QuickBooksTraining.com 2 day webinar "Bookkeeping Certificate" program before requesting a refund which they quickly refunded to my surprise.

    Any suggestions would be greatly appreciated :)

    submitted by /u/amlydon
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    How do I start up?

    Posted: 28 Jan 2021 04:32 PM PST

    Hi there everyone I'm contemplating starting a skin care company and I have no idea how to start. I know what the name of my business will be and I was wondering if it would be a better option to start an LLC or sole proprietorship. My goal with my business is create formulations that are effective and lack common ingredients that cause irritation. How do I start communicating with labs and start the process? Also, who do I talk to about packaging decisions and things of that nature. I also am an avid instagram user and have gained passive income from commissions with codes and some free products sent. (do I do a 1099 form for this?). I also heard about writing certain purchases off as a business expense, how does this process work? There is much more question that I can't think of right now. Thank you for your time.

    submitted by /u/UxiePhione
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