Since taking over the family business.... Holy F***! small business |
- Since taking over the family business.... Holy F***!
- Is it cringey to wear my business marketing materials everywhere?
- What are some downside of buying from Alibaba??
- Client thinks I have a bigger team than I do, what should I say?
- Part 2 of Stripe shutting me down and kicking me in the teeth
- Dissolving a partnership
- Which EPOS system do you use and why?
- Selling a comedy/night club?
- Help Firing an employee
- Funny story about wage theft
- Wix, Squarespace or Shopify?
- Speaker for year end get together.
- Does both me and my husband being equal members of our business LLC give us tax disadvantage to a single member LLC?
- What resources should I look into to learn about running a small office?
- 7.1M likes, ~ 1.4M retweets, ~ 375K replies/comments, ~ 114K unique authors in 90 days for my small business. I'd like to partner with a big brand. How do I go about it?
- If you helped your client score a partnership with [BIG COMPANY], can you directly say that you also "worked with [BIG COMPANY]"
- Ive got no interest in my business
- Small business advertising?
- Boss is about to max out his line of creit
- Can branded shipments be shipped to the US from China?
- ¡Hey! We are two rookies looking to start a new project, and we’d like to know your opinion about the idea.
- Best way to decline people who request your time & expertise for free?
- Food cart/trailer business
| Since taking over the family business.... Holy F***! Posted: 04 Nov 2021 04:04 PM PDT 2 and a half months ago Covid took my father from us. It was sudden, hurt way too much and its still sore for me to think about but since a day after his funeral I tirelessly worked my ass off to keep it running for my mother. This all went down at the worst time imaginable as well. It was nuts, there were 60 active clients we had. Thats peak business for us. My father opened a driving school. We just do private driving lessons. Its good work and the job is great. I personally love teaching these kids how to drive and what not.. But once the shit hit the fan and I had to step up and assimilate into this entrepreneurial lifestyle my father had... It was like... Idk... I wasn't even living home! Since that day after my fathers funeral ive worked 70 hours a week playing the game. I learned so much about business. Business sense. Morality. Finances. Budgeting. Scheduling. How valuable my time is. I also started becoming friends with more successful people. Its wild. Im just doing so much all the time now that i barely have time to even bring it up to anyone. The work is hard. The payoff is great. I aint making a damn dime really but the bills are paid and i got ramen 😂 ... Its 24/7. Like, every damn moment you think about the business. Its like being in a relationship with someone you love but its like you know when you're getting fucked. Its crazy how much i learned about my dad i never knew too. Like his history on youtube music. So many songs. His favorite books. Also mine. Its especially weird bc we talked every day and had a decent relstionship. Then i learned about his business mind. One morning I had spread out the contents of his bag on the ground and i was trying to see what it all was and if i needed to use any of it. I didnt know jack about running a business. So i placed it all down on the ground and stood up. It was like a hallway to my dads mind. So weird. From left right were all of his big coins and daily carries and then a money clip, and a little notebook. Notebook had nothing but dates in it with phone numbers. Learned it was my dads way (old school) of keeping track of students. Lastly was a picture of my mom. And a shit ton of paperwork and tax papers. Fuck. That was a process. Manually entering every single purchase in one night 😵 💀 ...anyways i just wanted to share my woes lol im still grinding daily. I automated my business and finally reached the point in my.life where I can control my time more and give myself more qualities in life. [link] [comments]  |
| Is it cringey to wear my business marketing materials everywhere? Posted: 04 Nov 2021 10:24 AM PDT I own a single member LLC for IT consulting and needed something professional to wear to meetings so I bought a dress shirt and had my company logo embroidered on it. In the process I learned that I could not only deduct the cost of the embroidery as a business marketing expense, but the cost of the shirt as well. I just bought a nice $300 North Face winter jacket which I wear everywhere I go and I was thinking of also putting my logo on that. From my point of view, it's a logical financial decision and also free advertising. However I wonder if there's a negative stigma with doing this that I haven't considered (I have next to zero social awareness). What do other small business owners do? [link] [comments]  |
| What are some downside of buying from Alibaba?? Posted: 05 Nov 2021 03:42 AM PDT I want to buy apparels in bulk and there are several seller on alibaba but before spending money on it I want to know what are the cons of buying from Alibaba and can there be a scam on Alibaba? [link] [comments]  |
| Client thinks I have a bigger team than I do, what should I say? Posted: 05 Nov 2021 01:25 AM PDT I run a small software business which I set up in 2017. Initially it was just me using freelancers and now there are 3 full time and a handful of good freelance development teams we use. The business has done well with an increasingly good client base. One of my clients who I picked up in lockdown has never been to our office and the engagement was all remote. I may have embellished things a little about 'my team' as we began working together to give the impression we were sizeable enough to handle the work, but in reality there is only 3 of us in the office. The client has told me they'd like to visit the office next week to meet "everyone" and I'm worried that they'll be disappointed to discover only a couple of us in the office. I want to set expectations now but what should I say? Thanks in advance. [link] [comments]  |
| Part 2 of Stripe shutting me down and kicking me in the teeth Posted: 04 Nov 2021 07:53 AM PDT My first post was here: https://www.reddit.com/r/stripe/comments/qlm8xs/account_shutting_down_in_4_days_after_7_months/ Last night, we received notice that Stripe is holding onto all of my funds till Feb 2nd due to a large amount of chargebacks. This is an absolute lie. Our chargebacks for all time is at 0.08% (132 disputes out of 167k transactions. Last 3 months is 0.06% (51 disputes out of 80,872 transactions). Last 4 weeks is 0.05% (12 disputes out of 24,433 transactions). Last 7 days is 0.02% (1 dispute out of 4,727 transactions). They said their threshold is ONE PERCENT. We're at 1/12th of that at our all time dispute percentage. Stripe, I am begging you to stop abusing the little guy. You are hurting families. You are hurting real people. [link] [comments]  |
| Posted: 04 Nov 2021 11:33 PM PDT Me and a friend have a general partnership in a moving company we started. After 4 months everything was going good, but I started to realize that I was doing all of the work outside of the moves. The only thing my friend contributed to was half the pay of whatever we needed for the business. I tell him what we need, he pays half. I answer all calls, run all ads, run all social media's, etc. he just shows up when we have a move to do. Yesterday I told him I am dissolving the partnership and getting it converted to a sole proprietorship. Surely the process isn't that simple, so I would like to understand it more. Would he have to agree, would he have to buy me out, or would it be switched ? I want to keep the name of the entity and have it to where he can't use it if he were to go on his own. How does that work ? [link] [comments]  |
| Which EPOS system do you use and why? Posted: 05 Nov 2021 03:25 AM PDT I am opening a tech store in my town in the coming weeks and being a Tech business I have interest from around 60% of the stores in town for me to manage their IT hardware / Epos systems as they are all either out of contract or not happy with their current system and want local same day service should trouble's arise I've heard a couple of people suggest OPSuite but it doesn't appear I can purchase it wholesale there only seems to be 2 UK company's that provide it and they do it nationwide so they probably wouldn't sell it to me to provide to my customers. Microsoft Dynamics RMS was another one (which I have previous experience with) however that's been discontinued I would be interested to hear from a few different business owners as to which system you currently use? [link] [comments]  |
| Posted: 04 Nov 2021 09:12 PM PDT I'm in the market at the moment for buying a place that's either an existing comedy club, or finding a nightclub I can turn into a comedy club. Currently, I've looked at all the usual places (bizbuysell, etc.), and investigated a few potential places, but to no avail. So, I figured I'd reach out to you all. Do any of you know of an existing comedy club or night club that would fit that criteria? [link] [comments]  |
| Posted: 04 Nov 2021 09:12 PM PDT I work at a small ice-cream Shop as a Shift-Leader. As the employee with most seniority and most trusted by the General Manager, I help with complete certain Manager tasks (with conpensation), mainly because a full assistant GM position was not available. One of these tasks includes hireing, and by extension, firing people. Now, I've never had to fire anyone before. I've recently hired an employee as a Shift-Lead, as a previous employee put in their 2 weeks due to having to move away. This Employee does their work exceptionally well, the reason I will fire them is not due to their work performance. The thing is, after being hired, on their first week which is focused on training, they tell me, the person who hired them, that they only planned to stay for a month, and only took this position as it was the first business they applied to that had contacted them back. They have also mentioned this to 3 other shift leads. Additionally, they often go on about how everyone working there, should find better jobs for more pay, etc etc. (They proposed to me directly I should quit and start doing Doordash) Training individuals takes up time and resources, my manager and I agree we don't want to pay someone and spend time training someone who isn't planning on sticking around, and blatantly show their little appreciation for the position they have been granted. So, after discussing with the manager, we agreed to just let this Employee go. However, as I was the one who hired this Employee, my manager is giving me the honors of fireing them, a task which I have never faced until now. Frustratingly, my manager gave little advice on how to go about breaking the news. I already have all next week's shifts for this Employee covered, I just need to deliver the news to them. How should I go about doing this? [link] [comments]  |
| Posted: 04 Nov 2021 09:01 AM PDT Back about 10 years ago i worked for a small screen print company, which had about 4 or 5 employees. I went into that company not knowing how to screen print or the multitude of factors that went into it. We had non-punchable time clocks. Essentially we wrote in what time we went in and what time we left. I was always under the mindset of write exactly what time i went in and exactly what time i left. Then I'd transpose those numbers into a decimated number so if i worked 39 hours and 48 minutes it'd look like 39.80 hours. My boss said i was stealing wages because it was 39 hours and 80 minutes. I had to blank stare because i was confused as hell. Not thinking, i told her that i think her accountant needed to go back to 7th grade math because they read that completely wrong. At the time, i was making only $10/hour so that would be $398 before taxes. I found out later that I inadvertently dissed her. She was doing payroll. Fast forward to now, i own my own small screen print business and do work when i can squeeze it in between my full time job and streaming. I look back on those days of working for them and use them as a basis to be a better employer. [link] [comments]  |
| Posted: 04 Nov 2021 07:45 PM PDT I'm thinking of using Squarespace, but I'm still undecided. [link] [comments]  |
| Speaker for year end get together. Posted: 04 Nov 2021 07:37 PM PDT Every year we have a end of year get together lunch and review. I wanted to get someone this year to come talk to us or something like that. Any thoughts? [link] [comments]  |
| Posted: 04 Nov 2021 07:30 PM PDT So my husband and I have been running a small business together for the last year and a half. We primarily were selling on Etsy under my name, and the first tax year (which was just a few months of this venture) I was issued a 1099 and we filed our taxes normally (both had W2s) as married filing jointly. Fast forward several more months and we've expanded quite a bit. My husband no longer has his "regular" job and works for our business full time, and I still hold my full time job and work for the business part time. We opened up a Shopify store, which unlike Etsy means we have to collect sales tax ourselves, so we went about getting a NYS Certificate of Authority to collect sales tax, and figured "hey let's make it an LLC" because why the hell not. While filing the LLC I put both of us as equal members without doing a ton of research, though (we just needed to get it done to get the sales tax certificate so we could start collecting tax on Shopify sales) so now I'm second guessing the decision. Basically I'm wondering if by being equal partners we automatically have to take equal income from the LLC and in turn will be both paying self employment tax - would it have made more sense to just put everything in his name? Have I created a mess come tax season, or is it something I can easily change? [link] [comments]  |
| What resources should I look into to learn about running a small office? Posted: 04 Nov 2021 11:05 PM PDT Hey everybody, I have come into a potential opportunity that I want to be prepared for. I'm currently a college student interning for a very small company (less than 30 employees). To keep it vague, I'm finishing college in the spring and I will be graduating with a bachelor in mechanical engineering. I've interned with this company for two years, and I'm on great terms with the management team. The company is obviously very small and is looking to expand. Being one of the few "engineers" in the company (and I say "engineers" in quotes because I haven't yet earned the title) and from conversation with the upper management team, it seems as though they want to mentor me in the next few years to earn a PE and branch off and start another office in another area of the country. Given this possibility is a few years on the horizon, I want to ensure that I have the best chance possible to make it happen. What are some resources that you, the men and women who work in small businesses, would recommend to help me prepare for this future potentiality? As a side note, I know it isn't a guarantee. However, I'd like to dedicate the time I have before it becomes a real possibility to enhancing my worth and making it more likely to come to fruition. Any advice is welcome. Thank you [link] [comments]  |
| Posted: 04 Nov 2021 09:36 AM PDT 2 years ago, I built a social media campaign for an entertainment/lifestyle business I was starting. Unexpectedly, the campaign turned out to be a huge hit. Since then I've never stopped thinking that I should redo the campaign but this time I'd partner with a big brand. I even built a proposal for it but I am not just sure how to move forward/how to approach potential brands. Any ideas would be greatly appreciated. EDIT: Thank you all for those ideas/suggestions about what should be included in the report/proposal. I believe I have most of that stuff covered. For example, here is highlight of some of the relevant underlying analytics for the campaign:
FYI, I tracked the campaign using a platform that I built because I needed to be able to generate custom reports and analytics across various data points. However, I also had a 3rd party platform track the campaign for validation. TLDR; I am thinking of running another campaign of the same nature and I'd like to co-produce the campaign with another brand/business with complementary/related service/products. So, my question here is how do I identify and contact the right decision makers at some of the brands I think would be good fit? [link] [comments]  |
| Posted: 04 Nov 2021 06:01 PM PDT Let's say that you're a super talented designer. And you worked with a company for a year as a freelancer designing their software. In that time period, this client of yours scores a big partnership with a huge company, let's just say Amazon. And let's also assume that you met with Amazon multiple times alongside your client and you did extra work to make the partnership happen (besides the original work that attracted them to begin with). Would it be disingenuous to market yourself as saying "I'm a designer who worked with Amazon in the past"? Even if it'd be more correct to technically say "I worked with a client who partnered with Amazon"? What are all of your thoughts? This has happened to me twice in my career and I want to reap the benefits if I can. [link] [comments]  |
| Ive got no interest in my business Posted: 04 Nov 2021 10:01 AM PDT Not sure why Im posting this other than to get it out and maybe get some advice. Im in my early 30s and just started my first business last year. Tried dropshipping and failed but found a real niche womans hair product that had a lot of interest. When I was running ads I had a competitor reach out threatening me saying I stole her photos(they were from AliExpress) and that I wasnt allowed to sell that product. Also sent all her followers after me and swarm any post I would make. Ngl, shit kinda pissed me off. So I decided to create a brand around this style of product and to make the products myself with the goal of putting this person out of business. Turns out Im really good at making this product and now a year later I make up about 90% of the market for this product with different styles and variations and have killed her sales by about the same amount. Im now making more money than Ive ever made and the business is doing really well. The only issue is I have no interest in this product or niche. The entire thing was started out of spite and now I have a real niche handmade business that just did 85K in its first year(with 80% of that on etsy). I spend all my time making products which I have no interest in. My only interest in all this is the fact that my pockets are full. Im just having a tough time finding the motivation to continue growing a business I have no interest in. I know that my other sales channels could outperform my etsy sales and this is also a product that could do well selling to brick and mortars. I know theres a ton of potential but man this shits not enjoyable. [link] [comments]  |
| Posted: 04 Nov 2021 08:35 PM PDT Hello all. Long time lurker, first time poster. I started my own wood working business back in June. Always have been passionate about it and just went for it. It's been a slow process but finally getting some orders. I have an Etsy as well as a Facebook, Instagram, and website. My main question is, I've had Etsy for about a month and have had no traffic. A few views but nothing really. Wondering if not only am I missing something, but is there better ways to advertise than the aforementioned? Basically, what is/are the best way(s) for a small business like mine to advertise and get my name out there. Thanks for any help. [link] [comments]  |
| Boss is about to max out his line of creit Posted: 04 Nov 2021 04:43 PM PDT Boss has a 450k + 150k sba loan. He is 69k from maxing it and it was only 300 at the beginning of the year. Is there anything that I can do to fix this or should I walk away from my job. I'm the only employee while the boss collects a 200k salary and flies in and out of Florida weekly not contributing [link] [comments]  |
| Can branded shipments be shipped to the US from China? Posted: 04 Nov 2021 08:27 PM PDT I have a shipment that's roughly 18 kg of labeled products that are for my brand. I was looking for a freight forwarder to ship them and they said "US import customs are very strict, and branded goods cannot be transported." Is this true? Am I doomed to never receive my shipment? It's my first one and I'm already freaking out. I'd appreciate any help or advice (paper work I need, FF recommendations, what to reply, etc.) Thank you [link] [comments]  |
| Posted: 04 Nov 2021 08:07 PM PDT Please, feel free to comment with your thoughts. We've found that a young adult spends almost two days a week procrastinating. We also found that people, usually when they have a heavy workload, they tend to forget about their own organization, since they'd like to have a quick start due to the pressure that they hold, thus, stress starts to build up and decrease their motivation, generating low-quality results, and finally, their time is not being taken advantage of. Our objective is to serve a new tool to our users, that helps them to organize in each focus of their day, allowing them to be prepared to carry out their daily activities, finish their goals, increase their productivity and let them take back control of their time. To be able to do this, we're developing a product based on the user's opportunity areas in relation to their time management by creating characteristics that are highly adaptable to their lifestyle, that allow the users to focus on their objectives, meanwhile, our tool is focusing on organizing their activities. What are your thoughts? Are you interested in the solution? Would you like to know more? Your feedback will help us a lot. Thank you [link] [comments]  |
| Best way to decline people who request your time & expertise for free? Posted: 04 Nov 2021 12:35 PM PDT Fairly often, I'm approached by acquaintances, friends-of-a-friend, and strangers about what I do. The whole "Can I pick your brain?" thing or they want to get my opinion on an idea they have. My professional background is something a lot of people are curious about and transitioned from a household name corporate company to a self-employment situation that I'm very happy with, which happens to be a niche many people are interested in doing. In the past, I used to be open to helping anyone who asked and would devote hours of my time for free. However, it distracted me from focusing on my primary work and I've realized I just can't do this if I want to achieve my own goals. My business is NOT client-based and I don't sell services or offer consulting, nor is this a thing I want to do. The people who hit me up also expect this very one-sided transaction where I provide them value, but they don't even attempt to explain how the relationship can be mutually beneficial. I've created written and video content discussing my industry in order to help others at scale that doesn't require individualized attention, and have been interviewed about my professional journey. Now when people inevitably reach out to ask questions about me, I've been telling them I get asked a lot about this and have been sending them links to the content and explain that I produced it to help others because I'm not able to do 1-on-1 consultations. One guy today responded like this: "I wasn't going to ask for a 1 on 1. I was curious." Maybe it's just me, but yes, he was absolutely asking for my 1-on-1 attention by direct messaging me on LinkedIn to "ask about my background." I don't know this person at all, and do want to help him, but just can't spend an hour messaging back and forth repeating information that's already in my publicly available content. Not the first time this has happened, I get messages or emails of this nature almost daily. If it's someone I actually know in real life, I will give them personalized attention, but I'm running into quite a few people who seem to feel entitled to it and then get mad when I can't. Is there a better way to handle these situations to both manage their (unrealistic) expectations and not come off like an asshole? [link] [comments]  |
| Posted: 04 Nov 2021 06:42 PM PDT I was considering getting a ww2 field kitchen that is fueled by wood and I was going to sell soup or similar out of it what do I need to get started and to be legit? I would have it on a family members property that's cool with it and sell out of it on the weekends [link] [comments]  |
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