I got my business license today. Now I’m one step away from owning the first of its kind business in the state. small business |
- I got my business license today. Now I’m one step away from owning the first of its kind business in the state.
- When the customer is wrong, and you have no evidence. Do you tap out or enter the ring?
- S-Corp PPP 401k Employer contrib?
- Best simple business loan (rare non-SBA related post
- How to manage cash flow, capital and personal finance with business (any apps?)
- Small busniess owners on reddit: what would you ask a data analyst do for you if you had access to one?
- Do you struggle getting new clients?
- Can I use my personal credit card?
- SBA Restaurant Revitalization Fund (RRF)
- Should I invest in a P.O. box before I've gotten sales?
- Software for reporting deliveries to clients
- Second round PPP forgiveness requirements
- Question on business account?
- First time importing products need help! (Ontario, Canada)
- Emails going to Spam folders
- Who is looking to start a business but not sure how?
- Book recommendation to scale a business as well as planning a daily scheduale
- Do I need to separate these businesses?
- Start-Up Funding
- Trying Again. 28 and nothing but hopes and dreams.
- How do I get a business credit card that does not show up on my personal credit report? my business expenses are keeping me from having good credit.
- nursing home
- Which small business market is hard to penetrate and why?
- Registering your business name prevents other people from using it.
- Social strategy when you don’t yet have product?
| Posted: 29 Apr 2021 07:39 PM PDT I'm feeling like I have accomplished a lot even though it hasn't been that much I'm starting my own specialized logistics company. I found out today I got the license that was holding me back from owning the company! [link] [comments]  |
| When the customer is wrong, and you have no evidence. Do you tap out or enter the ring? Posted: 29 Apr 2021 07:54 AM PDT Our business is very customer service oriented. There is room for human error & miscommunication. How do you deal with customers being wrong? I don't generally go to bat for myself without evidence. For example, we provided a small service to a customer just a week ago. I remember the interaction very well, shes a long time customer. At the point in the process where I collect money, she fiddled with her wallet & said, "Oh jeez, I thought I had enough on me. Can you just send me a bill?"...I said "sure", and gave her a copy & told her, "handing it to you now will save me a stamp". I mailed her a bill anyway & she called me and informed me that she paid cash, and even fabricated the memory of getting a $1.00 bill back & went on to explain that she always pays with cash & always has enough on her. I mean...What the fuck am I supposed to do about that? I gently covered my bases, "We would have given you a receipt if it was paid."..."My invoice doesn't show any payment received."..."I remember when you came in, you asked me to bill you."...I mean, all shes gotta do is say, "Nope. I know I paid."...and im screwed. I quickly weighed the odds of me keeping her as a customer & winning this battle. I plainly told her, "Well im not about to irritate you over $39.00, ill just void the invoice, its not a big deal.". Sure, in this isolated case its not a big deal, but in the long run, things like this happening maybe 5-10 times a year...it maybe still isn't a big deal, but its lost money for sure. It really grinds my gears, and im just wondering how many of you have to put up with the same sort of stuff? I get the feeling a lot of ya'll are located in cities, and im in a small middle of no where town. I have noticed some companies think nothing of pissing off a customer if they are in the wrong. Me though, i've only got a small pool of customers to pull from and the last thing I need is for the Karen Smith's of the world to go have coffee with their friends & tell them how Penetrative made her pay twice. Id rather her tell them how I made a mistake (not) and then I made it right. This stuff eats away at my brain for far longer than I care to admit. The whole rest of the day im gonna be running that conversation through my head & grinding my teeth over it. Beating myself up about how I should have some sort of better system in place to avoid these things entirely. Its just bizarre to me how i've got a system in place that works 99% of the time when its implemented perfectly. But im not perfect, and I let things slide sometimes a little and it never fucking fails, the moment I let my guard down my butt gets bit. I should have had her sign her invoice before she left, its a promise to pay thing...that would have cemented that she did not pay. But im not so strict about it for the little things. But man these little things seem to get me just as ticked off as the big things. [link] [comments]  |
| S-Corp PPP 401k Employer contrib? Posted: 29 Apr 2021 09:38 PM PDT Hello all. So I have asked my cpa this question but there seems to be so much misinformation out there on this subject so I wanted to post it here. Since I am a single owner S-corp I used my 2019 payroll numbers to come up with the ppp loan amount. I also have a solo 401k. At round 1 of the ppp loan my CPA indicated that the EMPLOYER portion of the retirement contribution could NOT be used over and above the 100k cap (20833) so that is what I got. However during the round 2 of the ppp application I am seeing where it is asking about the employer retirement contribution to the solo 401 and the fact that it CAN be used over an above the 20833. So if you contribute 20k as the employer portion you can enter payroll costs of 20833 (cap) + 4167 (20k x .0283) which totals 25k. Reference the link below. https://mordfin.com/blog/ppp-update-two-new-rules-for-owners-of-s-and-c-corporations/ Is my cpa wrong here.? Can we use non cash payments over and above the normal compensation to come up with the payroll costs? I have l read numerous posts that support my cpa then others that do not. Also if the 401k employers portion can be included then does the contribution to the 401k plan need to be disbursed during the coverage period or can it be done after the fact? I typically make lump sum payments into the 401k plan when cash allows. Thanks for any info.. [link] [comments]  |
| Best simple business loan (rare non-SBA related post Posted: 30 Apr 2021 04:04 AM PDT I'm thinking about going after another loan since EIDL seems like it might never happen. Where do you go for the simplest loan with the best terms? My business is 5 years old and I've got fair to good credit. [link] [comments]  |
| How to manage cash flow, capital and personal finance with business (any apps?) Posted: 30 Apr 2021 04:00 AM PDT Hello hello! I am currently running my business solo working with six figure profit per year. I have been operating for 2 years and just started renting a warehouse space and marketing agency. I work with e-commerce sales not drop shipping I produce the goods I sell. I am struggling dealing with separating business capital, personal salary and other financial separation strategies. Anyone have any advice, knowledge or tips they learned to keep track of money and keep a grip on business financials? [link] [comments]  |
| Posted: 30 Apr 2021 03:50 AM PDT Big companies have data reporting analyst like me to view profits and come up with insights. What is it that you guys would like to see? What are questions that you often wish you could get an answer for? What are your frustrations and what do you fear you are missing out on by not having a person dedicated to looking into your data and coming up with ideas? What would you like to ask for if you had them? [link] [comments]  |
| Do you struggle getting new clients? Posted: 29 Apr 2021 05:40 AM PDT |
| Can I use my personal credit card? Posted: 29 Apr 2021 10:00 PM PDT I was wondering if I can use my personal credit card to purchase some of my inventory? 🤔 [link] [comments]  |
| SBA Restaurant Revitalization Fund (RRF) Posted: 29 Apr 2021 09:33 PM PDT I'm going to be applying for the grant for my restaurant. I have Toast as my POS provider and heard that they are one of a few other POS providers that will be able to facilitate the application for their clients. I just feel like I might be better off applying directly to the SBA instead of going through Toast. This will be the first time they are doing a project like this, I can't imagine it will be smooth. The SBA has been able to get their act together after the EIDL & PPP programs had some glitches in the beginning. Does anybody have any thoughts on this? [link] [comments]  |
| Should I invest in a P.O. box before I've gotten sales? Posted: 29 Apr 2021 03:55 PM PDT I'm starting on an online sticker business and I'll be shipping orders out from my home. Initially I was going to wait until I got 50 orders and see how consistently they were coming in and then decide whether I should get a PO box after I hit that milestone but now I've started getting paranoid. Should I go ahead and eat the charge and get a PO box now? [link] [comments]  |
| Software for reporting deliveries to clients Posted: 30 Apr 2021 12:18 AM PDT I run a logistics startup and want to provide a real time dashboard to each of my clients on all their deliveries. The raw data is in a spreadsheet at the moment and will be switched to a database in future. I'm open to hearing about short and long term solutions. Thanks! [link] [comments]  |
| Second round PPP forgiveness requirements Posted: 29 Apr 2021 03:00 PM PDT Our partnership received a second round PPP loan. What are the requirements for the loan forgiveness? Do we just pay ourselves the loan amount? What is a deadline? [link] [comments]  |
| Posted: 29 Apr 2021 11:34 PM PDT Now that I have a business account, I will put my earnings into there. That's to create a digital record of the earnings. But obviously I cannot keep the earnings in there because I need to spend them on living expenses. So does that mean that I then transfer the earnings back out of my business account and into my personal account before spending them on groceries etc? Is that the way it's done? Yes maybe this is considered a a stupid question but I'm on a big learning curve. [link] [comments]  |
| First time importing products need help! (Ontario, Canada) Posted: 29 Apr 2021 07:38 PM PDT TL;DR: Importing refillable lighters to Canada, what's the process like, do I need a broker and is there a way to make sure my item passes all Canadian requirements. Hello everyone, It's my first time starting a business where I bring products into the country and I am very confused about the process. I will be importing refillable lighters into Canada which I'll be selling to local smoke shops. My confusion is about what happens after I have the products shipped here. What happens when the products land in Canada regarding tariffs and inspection and how do I make sure I abide by all the regulations? (Seen the list online however it's not the easiest to understand) Would I need a broker or can I do this stuff by myself? The only information I currently know is that I'll have to register the business and sign up for a import/export number but that's basically my knowledge so far. This is a great community and I know a kind soul will be able to give me advice. Any help would be greatly appreciated! [link] [comments]  |
| Posted: 29 Apr 2021 04:29 PM PDT We have an issue with emails being sent to clients going to their spam folder. We have a hosted domain and email service from Bell Aliant so it is not some name ending in hotmail but I wonder if it is that email is hosted through bell that is the issue. These are not marketing campaigns but emailing quotes that we follow up with by phone to ensure they received it because this spam folder thing happens so often. This is a small business with a limited geographic reach so we are not blasting emails out there. Anyone have issues with this and how did you solve it? [link] [comments]  |
| Who is looking to start a business but not sure how? Posted: 29 Apr 2021 10:11 PM PDT Please tell me what's got you stuck (barriers to entry) and what industry. I'd love to see how I can help. [link] [comments]  |
| Book recommendation to scale a business as well as planning a daily scheduale Posted: 29 Apr 2021 09:47 PM PDT Any good audiobooks you guys recommend that can better help me manage myself to maximize productive as well as books that can help scale a business. [link] [comments]  |
| Do I need to separate these businesses? Posted: 29 Apr 2021 05:35 PM PDT I own an ecommerce/manufacturing store that's doing pretty well and generating good cashflow. I'm about to open a second brand in the same industry and attach a vending machine component to it. My plan was just to open it as a DBA under the same LLC, as I use the same suppliers/warehouse/employees etc. However, it's probably smarter to separate this new entity from our core cash generating business. It will be a lot of extra work regarding documentation. Then my biggest issue is figuring out the accounting. Advice? [link] [comments]  |
| Posted: 29 Apr 2021 11:36 AM PDT So my wife and I are interested in opening our own business. It would be a franchise with an already well established chain. The chain started in Utah and most of the locations are there, although a few have been opened in other places, included the Charlotte, NC area. We live in and would like to open ours in the Raleigh, NC area, and there is really only one competitor in the area with one location. We have already talked with the owner in Utah and he is willing to work with us and move forward with the opportunity of us buying in and opening one here in Raleigh. I just lost my job, and we are wondering if this is the spur we need to get moving on this opportunity. This brings me to the meat of this post. The franchise fee is $10k and the owner has stated that the average franchise takes an additional $65k - $75k to open, though I'm thinking on the pricier side due to the area. Since I am now recently unemployed as of last week (though still looking for opportunities in my field) and have bills to pay, I would need to finance this entire adventure, plus some to pay bills. My main questions are: 1) Where should I look for financing options? 2) I'm thinking I would need upwards of $125k to finance the entire thing as well as pay bills until it is up and running. Am I insane? 3) Should I even be financing that much at all? 4) If not, how much should I be financing? Any help is greatly appreciated, I just wasn't quite sure where to start. Thank you in advance to all you awesome people who stuck around this long and are willing to comment and help. [link] [comments]  |
| Trying Again. 28 and nothing but hopes and dreams. Posted: 29 Apr 2021 05:33 AM PDT The last post I attempted was shot down pretty hard. So I wanted to give this one more chance. Hi... my name is Moodie Hues, and I am human. I am a girl on a mission... I have a long back story (who doesn't?), but I will save that for my profile. In my previous post, I attempted to hype myself up with this new business idea I have been chewing on for a while. I didn't expect to receive hate from mentioning have read into dropshipping. I am BRAND NEW - I said that! Is that a disgusting thing to do? Dropship? I didn't and dont know! I just want to sell cute earrings and make people smile. Or, at least make myself smile to say the very least. I am NEWBIE as far as manufacturers and i actively seek knowledge and to progress. So to put me down for sharing things I have considered seems less than necessary. I know I am capable of being someone and becoming something and escaping this studio apartment in this washed out suburbia. These walls continue to close in on me and my business seems oceans away. I have scrolled endlessly, filling notebooks and scrap paper with notes, links, sites, advice, ideas, x y z, you name it. It almost baffles me that I am still in the "it's just a dream" phase. I am 28, that seems old. My oldschool parents have me feeling washed up for just working in a coffee shop. While it is a job i love and enjoy... I know if I ever want to take a step up in life I have to do this. It can't just be an idea on paper anymore. I want to give back to the world so badly. What I mean by that is spreading happiness. I want to sell self care packages for men and women alike. A curated, perhaps themed packages because I am NOT taking about random shower products! I want them to be fun and personal. I also love earring and pins and stickers. They make me happy, is that so bad? It could make someone else happy as well... right? The process is exactly that. The sentence that got the most hate was this: "I have done sooo much research and have looking into marketing, seo, dropshipping, and so much more." <- never once indicated I have taken any action in any place. That is why I am right here, typing right now. I guess my question to the internet is if anyone has ANY friendly advice under the sun that I could take as a step (finally) in the right direction? I am BRAND new to reddit, so if there is a thread in regards to this PLEASE! EDUCATE ME! I am so sorry if this isnt posted right. I want to learn so so badly. I know i can do this. Do you think i could do this? I am a POS for considering dropship? [link] [comments]  |
| Posted: 29 Apr 2021 07:52 PM PDT I am in the process of migrating a business away from my personal finances, because it happened slowly and just kinda took over my personal bank account, and I need to move it. My credit card gets almost maxed out and paid off monthly to cover business expenses, and i always pay it, but it still shows my credit usage as high all the time. So I need to get credit card that is not tied to my personal credit, but I don't even know how to do that. any tips? [link] [comments]  |
| Posted: 29 Apr 2021 03:59 PM PDT I'm starting to explore the idea of opening an in home, full time, 24/7 nursing facility for the elderly (like the home my dad is in </3). I have the money to buy the property and furnish a home. Anybody have experience in this field? what licenses are required, etc? [link] [comments]  |
| Which small business market is hard to penetrate and why? Posted: 29 Apr 2021 07:30 AM PDT Looking to identify any small business industries, hopefully ones that are able to open up anywhere nationwide and not hyper local ones. [link] [comments]  |
| Registering your business name prevents other people from using it. Posted: 29 Apr 2021 06:21 PM PDT After spending months or even years building your brand and business you dont want someone else using your hardworkor ruining your brand reputation by taking the same or similar name because you didnt register your business name. [link] [comments]  |
| Social strategy when you don’t yet have product? Posted: 29 Apr 2021 02:10 PM PDT Hi everyone, I'm in the midst of starting a shoe brand and am in the middle of sampling and prototyping. I know that I really need to grow my community and following on social in order to get customers but I'm struggling. I'm not quite sure what to post and how to grow my community and gain followers when I don't have product photos yet. I've posted behind the scenes photos, blog posts, etc. and I'm just not seeing growth. Do you have any suggestions for getting those customers interested and following you before your physical products are available? Thanks so much in advance. [link] [comments]  |
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