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    Saturday, May 8, 2021

    How do you deal with Lifestyle Imbalance? small business

    How do you deal with Lifestyle Imbalance? small business


    How do you deal with Lifestyle Imbalance?

    Posted: 07 May 2021 01:49 PM PDT

    My SO is lovely and we get along in many ways. But when it comes to work/life balance we seem to have very different views and I'm wondering how many of you have dealt with this. I have worked hard over the last 5 years to create a nice company of just me and a couple of contractors that takes me maybe 20-30 hours work a week and my profits are roughly 4x my SO's annual salary.

    SO works hard - he has a good full time job while also working on his post-grad degree AND starting his own business. I however, don't work as hard and it's starting to create conflict. Sometimes I'll stay up late and not get out of bed til 10am. Sometimes I'll sit scrolling on reddit for much of the day - sometimes on here learning about business, but often laughing at silly memes. I'm starting to get comments about being lazy, not doing enough with my day etc etc.... which may be somewhat true - but if I'm earning and providing, what should it matter? I'm supporting him with his endeavours, and he wasn't around when I was toiling with 100+ hour weeks, nor the investment of money that went into bad decisions, bad hires, and just general things that went badly. I can understand from his perspective that it must be frustrating sometimes but I feel I've earned my time to do what I want!

    Anyway, that's the background. I want to know how you have dealt with lifestyle imbalance with your partner and how you overcame it?

    submitted by /u/alex3tx
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    Who else is a stay-at-home parent and also a small business owner? tips?

    Posted: 08 May 2021 03:43 AM PDT

    I'm finding it very difficult to find time throughout the day to work on my business. I do visual design (branding, ui, etc.) and between caring for my three year old and caring for my three month old I'm finding the only time I have to work on my business is after everyone else goes to bed. However, by that time, I'm absolutely exhausted and not able to work as hard as I need too. Is there anyone else that has been or is in the same situation? How have you managed? Thanks!

    submitted by /u/zoocookie
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    My photography business just will not get any traction, any advice?

    Posted: 07 May 2021 02:54 PM PDT

    I have a website, facebook page, and google business listing. So far all three of the shoots I have done have been the same customer. So I guess you could say I have 1 very loyal customer (whos is a friend) but that's it. Do I need to do facebook ads? I love photography and went to college for it but the business side has me lost.

    submitted by /u/grumpyveteran
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    My small business was scammed. Don’t know if this is the right place but I have some questions. If anyone can help I’d be very grateful.

    Posted: 07 May 2021 04:37 PM PDT

    Hi everyone,

    We run a small business in Miami. We dealt with an electronics supplier in Albuquerque New Mexico because cargo was ready to ship. Two weeks ago we made an ACH Transfer. Now nobody picks up the phone. Company looked serious and is registered but now that we are doing more thorough research we found some entries in BBB that had the same experience we've had. What options do I have here? The value is aprox 10k. I intend to file a claim with the police and the FBI but that doesn't help me get the cargo or a refund soon.

    What can I do to check if the business is really at the address they claim to be. Are there any companies that offer a kind of service that checks this out for you? Any suggestions for what my options might be? Small claims court maybe? I want to avoid legal costs because they are way to expensive in this country. thx in advance for the input.

    submitted by /u/chopari
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    Helping my wife start up

    Posted: 07 May 2021 07:36 PM PDT

    Hello everyone. I'm seeking advice on what our first steps should be to get my wife started in her own bakery business. It's a passion of hers and one for which she is amazing at. She has sold some stuff, to friends and neighbors, but according to our state codes our home kitchen isn't going to be in compliance to start an actual business. So we would need to have an outside location. This isn't a venture we could fund all on our own so we would need outside capital. I would just like to know what are the first steps we would need to take to get this going for her. I'm just a humble truck driver and am not that knowledgeable when it comes to such things. Any guidance would be appreciated.

    submitted by /u/cbinette84
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    How long did it take to land your first client?

    Posted: 07 May 2021 07:35 AM PDT

    I'm curious to hear your stories about how long after you started your business did it take to find that first client. What did you do to source them and how did you feel when you got your first yes?

    submitted by /u/Pretend_Wolf
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    What companies offer all over print on demand shirts?

    Posted: 08 May 2021 12:34 AM PDT

    I'm trying to get around 50 shirts made, but I can't find any sites that offer all over printing. I'd also like a site that gives options for each side if the shirt.

    submitted by /u/asliceofjake
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    How much would it cost to start a small product company/factory?

    Posted: 08 May 2021 04:13 AM PDT

    If I wanted to start selling natural products like fruit, vegetables, yoghurt, natural juice etc, what expenses would I have to pay and be aware of and how much do you think it would cost?

    submitted by /u/zCYRandoMUCz
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    I want to start a clothing business with 500$.

    Posted: 08 May 2021 03:25 AM PDT

    Hi everyone,

    I'm at the final year of my masters degree that is related to finance and accounting. I don't have the intension to start a carrier in finance. But I am motivated to start a small business.

    Could someone tell me if it's faisable to start with small amount of money. If yes, what strategy would you suggest please. Thank you in advance

    submitted by /u/InternationalPlate90
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    How do I forecast sales and revenue for my ethnic ingredient facebook store? How do I figure out how much inventory to buy, when to replenish and throw away?

    Posted: 08 May 2021 03:22 AM PDT

    I live in Bangladehs and I have been thinking of starting an online facebook store where I would sell chinese cuisine and italian cuisine ingredients to customers. Customers would order online and I would ship it to their doorstep using courier.

    I would probably need to buy the inventory upfront from wholesalers at a large volume. Usually these products are imported from China and Italy by small importers. They import at random times and soon after their inventories are all sold off. So you need to buy all that you expect to sell, no more or no less, because you don't know when you will get to replenish from him again.

    Now, before moving on with this business idea I have the following questions:

    • How do I forecast how much sales and revenue and net profit I am going to make per month? I need to know because I will need to invest in perishable inventory upfront. From my research it seems no one has done anything like this before, and people might not even buy the goods I am offering.

    • Given that the items are perishable, how do I decide how much inventory to buy, when to replenish and when to throw away? I am guessing this is a big topic, so if someone knows of an article that discusses this issue please link it in the comments.

    submitted by /u/Experimentalphone
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    ACH Change / Transfer fraud effort

    Posted: 07 May 2021 04:21 PM PDT

    Quite a few companies have become the target of an illegal ACH change / transfer fraud effort lately.

    The attempts are quite sophisticated and based on social engineering as well as hacking email accounts or intercepting emails.

    We were contacted if we knew about a third party's financial troubles because our contact was approached via email to pay a certain invoice early at a generous discount but to wire/ACH the money to a different bank account. The explanation for switching the bank account sounded reasonable and the new bank account was at a domestic bank. Our contact wanted to take an advantage of the generous discount offer and wanted to transfer the money immediately. We advised to call for verification instead of communicating via email only. Turns out, the email account was hacked. So, it was an illegal ACH change request but the fraudulent emails came from the original email account! The third party did not even notice the email hack until then.

    The second case we supported involved a fake domain name. The criminals registered a domain name identical to the target company's domain name but one letter difference. So, instead of ABCD.com it was ACBD.com The displaced email addresses were all correct but the actual (reply) email address went to the fake account. Social engineering was involved because everything in the emails looked "original". And once again, the criminals asked to switch the bank account. The criminals missed the financial transaction schedule by one day because the wire transfer was already initiated otherwise the scheme would have worked. What happened? Emails were intercepted.

    Tip: pick up the phone and call to verify even if time zones need to be considered and a language barrier might make the conversation awkward. Texting might even be an option to one or two verified phone numbers or contacts. However, always double check when you receive a bank account change request.

    submitted by /u/Panem-et_circenses
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    Square POS Printing

    Posted: 07 May 2021 08:28 PM PDT

    We have a large-ish network of square terminals and receipt printers. Whenever we set up a terminal we have to add printers. The problem is the list shows 12 printers, all with the same name, with no identifier (IP, Mac address) to let us know which is which. So then we have to go through them one-by-one until we hit the correct printer. Isn't there a way to ID the printer before we connect?

    submitted by /u/jason_nyc
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    What to do if your small business has no leads

    Posted: 07 May 2021 10:27 PM PDT

    "I have no leads and I don't know what to do!"

    If you are a startup founder, chances are that at some point in your career you will hear this statement. It is the most common question we get from our clients. And it is also one of the hardest questions to answer because there isn't really a silver bullet for generating leads. The truth is that there are many ways to generate leads and depending on your business model, some might be more effective than others. But before we dive into these strategies let me tell you why startups struggle with lead generation so much:

    1. They lack clarity about their product/service value proposition

    2. They haven't identified their target customer segment

    3. Their product/service doesn't have a product-market fit

    read more here: https://siliconvalleybread.com/blog/startup-no-leads/

    submitted by /u/Lopsided-Chef-5735
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    "Review your entire business" - Do we really need it?

    Posted: 07 May 2021 09:58 PM PDT

    Hi everyone,

    I just saw a company offering a service (It's literally like a second set of eyes) - reviewing my entire business to make sure I don't have any bookkeeping issues and hidden financial issues.

    Despite the fact that we have some bookkeepers onboard with us. They said our bookkeepers sometimes get distracted and can miss important components, because rarely can they step away from their work and return with a clear mind and fresh eyes to spot those bookkeeping issues.

    I saw the list of what are they going to do to review my business, it seems quite comprehensive. But I wonder whether do we really need that service?

    Our bookkeepers are doing well and I haven't seen any issues yet. Or that's just my assumption? Or I just couldn't see what is really happening that can really cost me lots of money?

    Please I want to hear your thoughts.

    Thank you in advance!

    submitted by /u/MinhThien145
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    Sampling techniques in 10 minutes

    Posted: 08 May 2021 01:25 AM PDT

    I made a video on the different types of sampling techniques explained in 10 mins. Please check it out and share it with anyone who might find it useful

    Here is the link: https://youtu.be/QemLfGIXfUo

    submitted by /u/SamuCalculus
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    How to receive payment via bank transfer?

    Posted: 08 May 2021 12:09 AM PDT

    Hi there,

    This may sound like a really dumb question but a client of mine wants to pay via bank transfer. What information do i need to send him to receive the payment? Is the acoount and routing number enough?

    submitted by /u/welltgatscool
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    Stickers

    Posted: 07 May 2021 12:40 PM PDT

    Yall I just got my first order of stickers from stickermule and... I'm disappointed. The quality isn't great, you can't even read my IG handle, and it's all grainy. And not that I'm complaining, but I ordered 10 and got 15- it just kind of makes it seem like they're not on top of things? I'm wondering if its user error causing the quality problems here... like do I have to resize my pictures or something? Idk. I got the 3x3 stickers, i suppose they're pretty small, but my drawing was very cartoony and simple so I thought it would be fine. Any advice?

    submitted by /u/alg-ae
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    Does mindset affect your business results?

    Posted: 07 May 2021 10:06 AM PDT

    Hi,

    I know there are a lot of entrepreneurs in here and it can be challenging to be one. I am curious about how you started and most specifically the mental challenges you had (if any). I have heard others talking about mindset shifts they had to go through to succeed. Have you ever experienced any issues or setbacks with that? If so, what helped you to change that? And maybe you still sometimes have to deal with it?

    submitted by /u/DomantasDreivnskas
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    Tips for handing the transition from SOHO?

    Posted: 07 May 2021 11:18 AM PDT

    I run a tree farm. It's me. My wife. Some casual high school kid labour.

    This year looks like total sales around 300K, total income (without paying us) of about 100K

    It's reaching the limit as to what we can do ourselves, but only at certain times.

    E.g. We need one person for 1/2 day a week for 4 weeks for mailouts.

    We need 1 person on weekends for 6 weeks who knows enough about trees to handle a sale.

    ***

    Generalizing the problem: How do you find people who are either such generalists that they can turn a hand to everything, or find people who know, or are willing to learn lots of stuff for short term gigs?

    submitted by /u/SGBotsford
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    SBA asking for ID & voided check?

    Posted: 07 May 2021 06:11 PM PDT

    someone from the sba emailed me today asking for copy of my ID and a voided check (because i changed my banking info, they said they need to complete request change)

    Is this safe and normal for SBA to email me and ask for this? Email is from @ sba. gov , so it seems legit.

    EDIT: Thanks for the help, it seems like its a legit email from ".gov"

    submitted by /u/pradaboss69
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    Have you ever had to provide biz references for a personal home refi?

    Posted: 07 May 2021 06:02 AM PDT

    My husband decided to refinance our house to get a better rate. No biggie at all, except for one bizarre thing. We've refinanced before and I have never seen this request. It's Wells Fargo and they want two references for my business to prove that it's an actual business. My IRS Sales tax certificate and state incorporation certificate are apparently (they said) not sufficient. I guess I'll give them a couple of suppliers, but it kind of has me pissed off.

    Have any of you ever encountered this before?

    submitted by /u/JcWoman
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    Next Idea?

    Posted: 07 May 2021 08:54 PM PDT

    I am currently in between startups -- my first one didn't work and I realized at-least a part of the reason was I never felt any sort of desire for that idea to work. It was in a dying industry, the idea was new but didn't solve a full problem. I started on that because of someone's "Just get Started" advice while I was struggling to find a decently appealing idea to work on. I did learn a lot and much more prepared to tackle the next thing. However, I am back again into the same spot of not knowing what to do and this time around I'm skeptic about "just get started" approach. Eventually I will just need to take that option but I wanted to reach out specifically to business people who've had this situation and how they overcame it.
    Not looking for a standard advice but more from personal experience.

    submitted by /u/Zestyclose-Bet-8780
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    Biden Disaster/ Lendio & Ready Capital PPP

    Posted: 07 May 2021 08:22 PM PDT

    I am perplexed by Biden's ruling on small biz owners who are a minority being a priority for this 2nd PPP round. I run a Bed & Breakfast in an "opportunity zone," aka, a diverse area with lower incomes. I am a single woman struggling to make ends meet. I applied in March for PPP via Lendio. Per the demographics of my biz, and as a female biz owner who had proven 60-75% of loss revenue in 2020, my application with Lendio was not a priority: and then sent to Ready Capital, for the 2nd round of PPP. Now, funds have run out. WTF. I have many friends who were approved via Lendio/Ready Capital who do NOT own legitimate businesses nor have biz accounts nor "priority" businesses. This pisses me off. I followed-up with John Fee (who had been rather responsive in the past month) and now crickets. I am a REAL small biz owner who was never a priority. This administration is a joke and so is the approved funding for PPP. I am selling what I own of value to make ends meet (like I have been doing for over a year to make make biz stay afloat). I know my friends who received the 2nd round of PPP are not struggling; they have been profiting. I AM MAD AS HELL, right now.

    submitted by /u/SWISS917
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    Food Business

    Posted: 07 May 2021 11:20 AM PDT

    I am thinking for starting a small food based business in BC, Canada. I want to operate it from my home as it'll be side business for now and then I'll make it my full time work. I already have a food safe level 1 and I'm going to update it to food safe level 2.

    I was wondering if I need any permits? I understand that restaurants need one. I've been trying to find it but I cannot find much information.

    I'd very much like your advice and insight for this.

    submitted by /u/impaired_attic
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