How NOT to be the "Founders/CEO's Son" we hear so much about small business |
- How NOT to be the "Founders/CEO's Son" we hear so much about
- My business was listed on Loopnet by BizBuySell, but neither me nor my business partner listed it. What's going on?
- How to save on shipping costs and develop a good pricing structure
- So i just got my LLC and starting my small Business (landscaping). Any tax tips ?
- Can you rely on a marketing firm, and outsourced work?
- Looking for a business mentor
- Fitness Apparel
- What PC to buy for a local beauty salon?
- Retail Start Up Question
- Small business owners with different locations - how do you manage all the locations without being physically there?
- bootstrap multiple businesses simultaneously?
- Full-time employee with side-gig sole proprietorship
- Help a 18 YO out !
- where to input PPP info on 2020 tax return?
- Accounting/Tax Software Recommendation
- What licenses would I need for a tobacco vending machine business?
- Industry-Specific Accountant
- Liability Protection for Executive Directors
- Any sustainable Canadian mail packaging out there?
- Customer Order Tracking
- Inventek POS Website Integration?
- How to manage cash flow?
- Dilemma: Decent Employees / Bad Manager
| How NOT to be the "Founders/CEO's Son" we hear so much about Posted: 30 Mar 2021 02:54 PM PDT My family started a small but successful business in 2008, and recently (within the lat 60 days) I have been handed the reins. I have been in and around my family business since I was a child and have been working here in the office for 3 of the last 5 years in 2 different stints. In the second stint among my duties were the hiring duties and most of our employees now I have known since I was a child, or hired myself. Im not a new face, and Ive been working with these same co-workers for the last 2+ years. I have a fair amount of experience in the industry, of which my employees are aware as they were part of the business dealings; but I am on the younger side of both the industry and my office...aside from our Office Admin, Im the youngest one in here by 10 years. For those that have been part of a transition like this (from employer or employee side) Any tips for me to NOT be the spoiled/entitled son that runs their family business into the ground are much appreciated. How do I maintain the high standard my family set, while not coming across as overbearing or condescending? How do I be empathetic without being "walked on" or "played"? Want to make sure I get started on the right foot and appreciate all feedback i get. Thank you in advance. [link] [comments]  |
| Posted: 30 Mar 2021 08:26 AM PDT Good day everyone, My business partner and I were made aware of a listing from BizBuySell by our landlord this morning when he asked us to confirm that we were selling our business. We told him we were not and asked for the link to the listing. Sure enough, on Loopnet, user BizBuySell (a fairly large business selling company) listed our business for sale. The revenue, profits, number of employees, etc are all incorrect. They overstated revenue and profits and suggested we did it all with less than half our actual number of employees. The listing had fairly recent (post-renovations) photos of the exterior and interior of the shop. It is just me and one business partner who started and operate the company and neither of us listed it. Is this a scam? A post made by a bot with made up numbers hoping to get the SSN's of potential buyers? Is there anything from a legal perspective me and my business partner need to do or be aware of? Just a very confusing thing to see, someone else listing something that belongs to you without your knowledge... I'm just hoping it's not a big deal and I can just ignore it, but I wanted to check if anyone else has had this happen to them? Thanks in advance! Edit: Thanks for all the replies! I have reached out to BizBuySell and Loopnet to get it taken down. Loopnet responded saying they were "investigating" the listing and BizBuySell hasn't yet responded outside of the usual autoreply response [link] [comments]  |
| How to save on shipping costs and develop a good pricing structure Posted: 30 Mar 2021 10:04 PM PDT Hi All, I'm starting an ecommerce direct to consumer business selling shelf-stable packaged food and have not launched yet. I'm looking at competitor products and seeing that their shipping rates are really high! As a consumer I have abandoned my cart before when shipping is too high and want to avoid my future customers from doing this. 1) What are you all doing to save on shipping? 2) what are some pricing structure strategies you're using to make the consumer more confident about shipping prices? [link] [comments]  |
| So i just got my LLC and starting my small Business (landscaping). Any tax tips ? Posted: 31 Mar 2021 04:36 AM PDT The main thing I've been doing is keeping up with is my equipment receipts. But anything I should know or should be doing? [link] [comments]  |
| Can you rely on a marketing firm, and outsourced work? Posted: 30 Mar 2021 08:36 PM PDT If you get a good marketing firm, and outsource work can you rely on them and just manage them? Or do you think freelancers or inhouse work is more reliable? How can a business be more turnkey so I can focus on strategy(overall, product, marketing), growth, and customers? [link] [comments]  |
| Posted: 31 Mar 2021 03:57 AM PDT Hi there, I am kind of stuck in a rut in my business and would like to talk to someone to bounce some ideas off of. About me: 30-something female solo business owner from Sydney, Australia. My business is in the legal field (specifically immigration). I'm specifically having trouble with content SEO and generating online traffic, but I also have questions about wanting to change/diversify my service offerings. I think my main issue is my lack of previous business experience (I've only had my own business for about 18 months, and for most of that time it was dormant due to the pandemic), and the fact that I'm doing it solo. I don't have employees and I'm not planning on hiring. I'd really appreciate some guidance from someone with more experience running a successful online business. I'm happy to give more details if you would like to provide some brief mentorship over Reddit chat. I'm just looking for about 30 min to an hour of your time if that's not too much to ask. Thanks in advance. [link] [comments]  |
| Posted: 30 Mar 2021 06:07 PM PDT This is the most specific thing I could ask, but I need help and maybe one of the 500k people would know-how. I started a fitness apparel dropshipping business to pay for a real business with fitness apparel. I already know all the fabrics I want specifically, and I've done so much research to find exactly what I want. 80% nylon 20% spandex for my leggings I came across this company, which started their Facebook page in February 2021, Instagram at 200 meaning that they are a new company. https://www.envisionapparel.me/?fbclid=IwAR1lsBW1qc8J2eyuZwrBEi0FvWbTaK5_WPL5KKVMXllWmO7RtGLPOUZm448 This company has all sizes, no ads on Facebook, and multiple different products meaning they basically need a warehouse for this super small online business. I feel it would be extremely unlikely for them to pay all that money on a business they have 0 idea will actually work. The only way they would be doing this print on demand I believe, and if they were to order that on Alibaba, it would cost them thousands of dollars. I find it extremely hard to believe they are doing this without that, and I guess my question is, What are they using to create their apparel? [link] [comments]  |
| What PC to buy for a local beauty salon? Posted: 31 Mar 2021 01:45 AM PDT Hello everyone, Im running an lockdown beauty salon. I need a PC for the reception. I need Excel, CRM tools and maybe some other small tasks. What can you suggest? I know what PC's are good for me, but what is a good orientation for a business that someone will use? Can u say some specs? Thank you? [link] [comments]  |
| Posted: 31 Mar 2021 01:00 AM PDT Start up Retail business questions I have worked and negotiated deals for 5 separate locations to open a few retail businesses. Here is my question, I initially thought I would just be acquiring product from a top tier supplier at a reduced rate however now that the supplier has seen my locations, he wants to partner. What is a fair amount to of equity to give to the supplier if he is. Ow willing to provide flower at zero cost and we split net profit at end of each month. I have 75% equity so what is a fair amount? I have worked my butt off for the last year to secure deals however he has the product that makes this whole idea work. [link] [comments]  |
| Posted: 31 Mar 2021 12:53 AM PDT Say you own for example a chain of small cafés, each has 2-3 employees working at any one time when its open. If you own 10 of these cafes, how do you manage them all? How do you know that the people at cafe #7 are being polite and courteous to customers and that the staff at cafe #9 showed up for work? How do you know that staff at cafe #4 aren't stealing from the tills? Thanks for any info :) [link] [comments]  |
| bootstrap multiple businesses simultaneously? Posted: 30 Mar 2021 08:30 PM PDT First, is the idea or general strategy to find something promising (lucrative opportunity, low upfront investment, shorter intended time span to get to breakeven and a sizeable profit). Second, is to run the business and get it to break even and grow/profit a sizeable amount. I know people can own multiple real estate houses, or they can run a few turnkey businesses at the same time(laundromat with workers, or franchises). Are there any people you know that bootstrap multiple businesses full time like niche art supply store online(keeping inventory in the garage till you expand), and other bootstrap businesses at the same time? Things that are closer to turnkey like if you use a fulfilment centre, employees/freelancers. [link] [comments]  |
| Full-time employee with side-gig sole proprietorship Posted: 30 Mar 2021 11:46 PM PDT Hello. I have a question regarding regarding deducting continuing education, and am having trouble finding an answer. I currently work as a physical therapist as a full-employee of a private company. I also work as a sole proprietor to see private clients and home health. I am looking to take my career in a different direction and take some additional continuing education courses, however these would not be fully reimbursed by my full-time employer. Can/should I deduct the full price(s) of con Ed course(s) as a sole proprietor if I am also employed full-time? Any advice would be greatly appreciated. [link] [comments]  |
| Posted: 30 Mar 2021 07:33 PM PDT Hello ! I am a high school student that just recently turned 18. Me and a couple of friends are wanting to start a clothing business. Have already found the location we would like to rent, and placed a down payment on it. And already have an inventory as we've been doing this as a side hustle type thing for a few months now. We're located in Indiana as well if that helps. We've established that we're gonna go with a sole proprietorship for now and start with it under my name. But where do I go next, i've went online to the in.gov website and registered and I got an FIN. But i'm stuck on what to do next, and the lady that offered assistance in helping me that rents a building next to mine is going to be out of town until next month so i've got some time until she's back to assist. Any help on here ? [link] [comments]  |
| where to input PPP info on 2020 tax return? Posted: 30 Mar 2021 11:02 PM PDT I'm an independent contractor who received a PPP loan in 2020 and used it all towards payroll (to myself) in 2020. I filed for forgiveness in 2021 but am still waiting. Where on my 2020 Schedule C do I report the loan? Oddly, I can't find this info anywhere. [link] [comments]  |
| Accounting/Tax Software Recommendation Posted: 30 Mar 2021 04:40 PM PDT Hi all, I have a single-member LLC. I'm trying to find a simple way to track my expenses throughout the year, and have them easily presented to me at tax time. Quickbooks is a nightmare. They can't seem to show me the total I've spent on each expense category without trying to sell me another product or send me to excel. Wave seems incredibly time-consuming as it doesn't allow me to create rules for expenses. Furthermore the categories do no line up right at tax time. Bonsai is a joke. You can't import data from a previous year unless you upload a CVS file. And then of course it's a god damn mess because they can't handle deposits, only deficits. FreshBooks is taking forever to load my accounts, and is already glitching left and right. I can't believe something so simple has been a massive headache for me, year after year. I just want to easily classify expenses for God's sake. Is there an option out there I am missing? Thank you! [link] [comments]  |
| What licenses would I need for a tobacco vending machine business? Posted: 30 Mar 2021 09:05 PM PDT I want to start one but in Wisconsin but I haven't ever started a business before. What licenses/permits would I need to sell cigarettes or vapes out of a vending machine. Would I need a tobacco vendors permit or would the store that I put the machine in need one? [link] [comments]  |
| Posted: 30 Mar 2021 04:49 PM PDT The past two years, my startup has used an online outsourcing service for our accounting, and paid far too much for too little service. We're a LA-based production company, and besides lack of communication, our main issue was that the outsourcing firm didn't understand how film shoots operate, and as such were never on the same page in terms of cashflow. Google has been no help, mostly just obvious sponsored ads (which was how we found the original service). I've been asking friends and others in the industry, but many have had similar issues... any advice? [link] [comments]  |
| Liability Protection for Executive Directors Posted: 30 Mar 2021 07:50 PM PDT I been at a non-profit maker space (shared space for woodworking, metal working) for 5 years. They want me to be Executive Director. Volunteer. Who should I consult with to help protect me from liability? [link] [comments]  |
| Any sustainable Canadian mail packaging out there? Posted: 30 Mar 2021 10:23 AM PDT I loathe uline entirely, I hate their views and the massive catalogues that get stuffed in my mailbox. Staples is ok. But I'm looking for a company that sells things like compostable cello bags for prints/stickers/pins as well as simple recyclable Kraft mailers. I'd love to use a Canadian company if at all possible. [link] [comments]  |
| Posted: 30 Mar 2021 03:12 PM PDT Hey guys, I run a business selling Basketball Uniforms across Australia. We import them from China, directly to Melbourne and then split the orders up and send them via Aus Post. We're getting to the point now where if a shipment is delayed by a few days, physically calling everyone in that shipment takes 4 or 5 hours. What I'd love to do, is implement a tracking system, that can be updated throughout the process, like: Finalizing 2D design > Printing > Cutting > Sewing > Quality Control > FedEx to Melbourne > In The Post Or, something similar. Has anyone had any success using something like this? When I do a google search, all I can find for 55 pages are CRMs. [link] [comments]  |
| Inventek POS Website Integration? Posted: 30 Mar 2021 06:02 PM PDT Heya. A local small vape shop I do tech jobs for asked me to build them a website that has the basic stuff like their contact info and location, as well as the ability to look through their inventory to see what products are available. They use an Inventek POS system to manage their inventory and sales. Does anyone else use Inventek, and is there a way to integrate the inventory listings with a website? Thanks! [link] [comments]  |
| Posted: 30 Mar 2021 11:57 AM PDT |
| Dilemma: Decent Employees / Bad Manager Posted: 30 Mar 2021 09:55 AM PDT I came across a dilemma in my business. One of my locations is 1,000 miles away and has a manager with about 10 employees under him. He's worked for 3 years and the performance of this manager has been downhill since last year and no matter what I've tried I can't rehabilitate him. I've determined its time to let him go. My initial plan was to fly in and fire him about 6 weeks ago, restructure give raises and promote from within. It would've taken about 2 months or so to achieve that. However, bad weather caused my plans to get canceled and my entire schedule had to get rearranged. Anyway, I'm at the point where the employees are overdue for a raise but I cannot give them raises and keep him on at the same time; the budget's not there and neither is the performance. Would it be inappropriate to give them raises now and fire him a few weeks after? I'm the owner of the company and, while this bunch hasn't exhibited it, employees generally tend to see the worst in me. Has anyone come across such a dilemma? [link] [comments]  |
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