Hi everyone,
Wish all of you a happy new year. Glad to join this forum and wish to learn and make friends here.
Wish all of you a happy new year. Glad to join this forum and wish to learn and make friends here.
samedi 31 décembre 2016
Idea to start own business
Hi good day.
I would just like to ask some guide on how to starts business online my skills are set in office as a clerk and currently working as Telephone Specialist doing lot of calls and promote some IT products to those Companies top management.
I just have the urge to start my small business in line with this please have some tips. Thank you!
I would just like to ask some guide on how to starts business online my skills are set in office as a clerk and currently working as Telephone Specialist doing lot of calls and promote some IT products to those Companies top management.
I just have the urge to start my small business in line with this please have some tips. Thank you!
revenue
what type of established online businesses can generate 200k or more per year in earnings which is not to say their net worth, revenue, fiscal year, ect....... ? would it be a website that sells electric shavers or does online marketing? can someone give me some ideas? rsvp. thank you.
jeudi 29 décembre 2016
To partner up with someone with a slightly checkered past or not?
Hello,
I have recently been approached at my current position as a bar manager in a fairly successful small bar open for just over a year, to open a much larger operation as a co-owner elsewhere. The owner of my current bar has approached me about selling me the bar within this last year, as he has much bigger plans, but we have not talked about the fine details as of yet. This new space is about 2,500 sf and could not be in a better situated part of the city. The neighborhood itself is growing at an incredible rate; old buildings being torn down to erect increasingly larger apartment buildings. There is perfect foot traffic and a high number of other restaurants and bars in the area, but none offering what exists in the business plan. 'Kitty-corner' across the street is a pair of restaurants that collectively do an average of $12m gross annually and will be closing down within a couple of years, due to the owners of the land selling to a developer to build more apartments. The build-out is looking to be in the $250k range and the person whom approached me has about $200k liquid, ready to start construction immediately in the new year. The first offer is 15% equity if I personally raise $50k to the table and I am responsible for the creation and design of the full beverage program for two different spaces and the management of daily operations and hiring and management of entire FOH staff. I would probably negotiate for a higher equity percentage as I have been bartending and managing for seven years, have over ten years' experience in the service industry, and would most likely end up being the face of the entire business, but that is not the reason for this post.
This is an incredible opportunity. I believe strongly that with closely paid attention and hard work on all of our parts, this could, and will be a very successful business. Also, being that it is in a rapidly growing neighborhood and we have been promised in the lease agreement options for two ten-year leases, the likelihood of being bought out of our lease in order for the land to be developed is quite high, presenting an investment opportunity as well. The question comes in with my potential main partner. As I mentioned before, he and our other partner, his brother have 80% of the projected budget, liquid, ready to go. But, upon doing some sleuthing, a few questionable things have popped up involving this guy. As I confronted him, he was neither defensive nor angry, but in fact was very candid about his past and even shared further beyond what I asked. He seemed to realize over about the past fifteen years or so that not doing things entirely legitimately was not work the risk although, as a younger man didn't seem to think that way. He mentioned a number of illegal dealings in order to be successful, which has always been very important to him, citing his Eastern European background as an influence. I believe what he says about how he operates now, as he has two restaurants currently open that seem to be doing quite well, and I get a pretty good feeling from him as a person but I am faced with a very difficult question:
Do I overlook this man's checkered past and the fact that he is open about making what I consider to be morally wrong decisions in his youth so I can be a part of a potentially very successful business and investment opportunity? Is it possible to move forward and protect myself in a way that if anything arises out of his past, I am not involved and thus unaffected? I am recently married, and so I have more than just myself to think about.
I appreciate any thoughts on the situation. I've been hearing my family's opinions about it for awhile, but I thought maybe some unbiased input might help me look at the entire scenario a little more objectively.
Thank you for you time in reading this, and any thoughts you might share.
I have recently been approached at my current position as a bar manager in a fairly successful small bar open for just over a year, to open a much larger operation as a co-owner elsewhere. The owner of my current bar has approached me about selling me the bar within this last year, as he has much bigger plans, but we have not talked about the fine details as of yet. This new space is about 2,500 sf and could not be in a better situated part of the city. The neighborhood itself is growing at an incredible rate; old buildings being torn down to erect increasingly larger apartment buildings. There is perfect foot traffic and a high number of other restaurants and bars in the area, but none offering what exists in the business plan. 'Kitty-corner' across the street is a pair of restaurants that collectively do an average of $12m gross annually and will be closing down within a couple of years, due to the owners of the land selling to a developer to build more apartments. The build-out is looking to be in the $250k range and the person whom approached me has about $200k liquid, ready to start construction immediately in the new year. The first offer is 15% equity if I personally raise $50k to the table and I am responsible for the creation and design of the full beverage program for two different spaces and the management of daily operations and hiring and management of entire FOH staff. I would probably negotiate for a higher equity percentage as I have been bartending and managing for seven years, have over ten years' experience in the service industry, and would most likely end up being the face of the entire business, but that is not the reason for this post.
This is an incredible opportunity. I believe strongly that with closely paid attention and hard work on all of our parts, this could, and will be a very successful business. Also, being that it is in a rapidly growing neighborhood and we have been promised in the lease agreement options for two ten-year leases, the likelihood of being bought out of our lease in order for the land to be developed is quite high, presenting an investment opportunity as well. The question comes in with my potential main partner. As I mentioned before, he and our other partner, his brother have 80% of the projected budget, liquid, ready to go. But, upon doing some sleuthing, a few questionable things have popped up involving this guy. As I confronted him, he was neither defensive nor angry, but in fact was very candid about his past and even shared further beyond what I asked. He seemed to realize over about the past fifteen years or so that not doing things entirely legitimately was not work the risk although, as a younger man didn't seem to think that way. He mentioned a number of illegal dealings in order to be successful, which has always been very important to him, citing his Eastern European background as an influence. I believe what he says about how he operates now, as he has two restaurants currently open that seem to be doing quite well, and I get a pretty good feeling from him as a person but I am faced with a very difficult question:
Do I overlook this man's checkered past and the fact that he is open about making what I consider to be morally wrong decisions in his youth so I can be a part of a potentially very successful business and investment opportunity? Is it possible to move forward and protect myself in a way that if anything arises out of his past, I am not involved and thus unaffected? I am recently married, and so I have more than just myself to think about.
I appreciate any thoughts on the situation. I've been hearing my family's opinions about it for awhile, but I thought maybe some unbiased input might help me look at the entire scenario a little more objectively.
Thank you for you time in reading this, and any thoughts you might share.
Hi all
Hello all,
I just join here, hopefully we can help each other and become a family in this forum :)
Regard's
I just join here, hopefully we can help each other and become a family in this forum :)
Regard's
mercredi 28 décembre 2016
Two questions from newbie in US business
Hi,
I am currently setting up a new corporation in Cheyenne, Wyoming, and I will run it from Denmark, where I live. I am danish and this is my first time setting up my own business in the US.
I also have a web shop, and I intend to sell products in the US through my US business. Is it correct that I can sell to the entire US from a company only registered in only one state?
I need to look into customs and I have no experience what so ever regarding US customs. Do I need to look at national authorities sites and rules or is that a state matter for Wyoming? Where do I start?
Thanks,
I am currently setting up a new corporation in Cheyenne, Wyoming, and I will run it from Denmark, where I live. I am danish and this is my first time setting up my own business in the US.
I also have a web shop, and I intend to sell products in the US through my US business. Is it correct that I can sell to the entire US from a company only registered in only one state?
I need to look into customs and I have no experience what so ever regarding US customs. Do I need to look at national authorities sites and rules or is that a state matter for Wyoming? Where do I start?
Thanks,
Reimbursing owner for taxes paid from S-corp profits
I am 50% owner of an s-corp which had a profit last year. I did not take any distributions or bonuses but the profit was passed on to me since the business is an S-corp. First question, how do I determine the amount that this affected my personal taxes and can the business reimburse me for it? Secondly, how do I account for it so it doesn't look like a distribution or get taxed again this year?
Hi Everybody
Hi,
Thanks for having me on the forum.
i am based in Michigan and own a few small businesses. My main business is a small biotech company that sells diagnostic reagents. I also have a substance abuse testing/outpatient rehab clinic and some real estate.
I hope to help out and hopefully get some help.
-Kumar
Thanks for having me on the forum.
i am based in Michigan and own a few small businesses. My main business is a small biotech company that sells diagnostic reagents. I also have a substance abuse testing/outpatient rehab clinic and some real estate.
I hope to help out and hopefully get some help.
-Kumar
mardi 27 décembre 2016
Do you practice poor LinkedIn etiquette ?
If you've ever heard me speak of it, I hate LinkedIn. Not the tech or function of platform itself, it's the people on it. IMO LinkedIn is full of desperate spammers who think amassing numbers of strangers will miraculously turn into sales. I hate the groups. I hate the way people you don't know, and have made no attempt to get to know you send you connection requests with the default "Join my network" message. I hate even going to the site because I know I'll have to clean up a bunch of spam messages.
But, it's the only one like it and if you're in business you should have a LinkedIn account, whether you actually use it or not, just in case. To me LinkedIn is like the clock on a VCR. Very few people ever stopped to understand how it works, and even fewer take the time to set it properly.
This Hootsuite article maps out some of the most common LinkedIn fails that drive me nuts.
http://ift.tt/2inIwvQ
But I think it could go much further. Do any of you use LinkedIn regularly, or are you like me? Have a profile but rarely use it for anything.
But, it's the only one like it and if you're in business you should have a LinkedIn account, whether you actually use it or not, just in case. To me LinkedIn is like the clock on a VCR. Very few people ever stopped to understand how it works, and even fewer take the time to set it properly.
This Hootsuite article maps out some of the most common LinkedIn fails that drive me nuts.
http://ift.tt/2inIwvQ
But I think it could go much further. Do any of you use LinkedIn regularly, or are you like me? Have a profile but rarely use it for anything.
The real reason your Crowdfunding campaign failed
We get a lot of questions about Crowdfunding campaigns and try to hit on a few key elements that successful ones have. This Fast Company article gets down to brass tacks and describes the things that you need to take seriously and do well to have any hopes of having a successful one yourself.
Whether it’s Kickstarter, Indiegogo, GoFundMe, or any of the other thousands of sites out there, no crowdfunding platform can source funders or market a new product or service all on its own. The crowdfunding campaign can do that, but the platform can’t.
It’s a subtle yet crucial distinction—and one reason so many crowdfunding efforts fall flat. The sole purpose of the platform itself is to facilitate payments! The rest of it is good, old-fashioned networking. Here’s how to get it right.
You read the rest of the article here: http://ift.tt/2inVEB5
Has anyone here tried crowdfunding? If so, how did it work out for you?
Quote:
Whether it’s Kickstarter, Indiegogo, GoFundMe, or any of the other thousands of sites out there, no crowdfunding platform can source funders or market a new product or service all on its own. The crowdfunding campaign can do that, but the platform can’t.
It’s a subtle yet crucial distinction—and one reason so many crowdfunding efforts fall flat. The sole purpose of the platform itself is to facilitate payments! The rest of it is good, old-fashioned networking. Here’s how to get it right.
Has anyone here tried crowdfunding? If so, how did it work out for you?
lundi 26 décembre 2016
Hi Everybody!
My name is Jeff Vegas and I just arrived at this forum. I hope I will meet interesting people here to share experiences and help each other in our online business efforts.
Loyalty Program Best Practices Guide
A modern day loyalty program should enable you to reward users for not just for purchases, but for all-round, 360 degree engagement. Download the free guide to gain guidance on all aspects of creating an award winning loyalty program including how to name your loyalty program, which activities should be rewarded, how many points to be allocated for a given activity etc.
http://ift.tt/2hGOTcU
http://ift.tt/2hGOTcU
Customer Loyalty Management
Loyalty programs have proven to be very effective in ensuring repeat business. However, traditional loyalty programs are expensive to implement, take months of effort and typically only reward customers only for purchase transactions. ShopSocially has changed all that. You can now reward your customers for all round 360 degree engagement and implement the program within 2 weeks.
http://ift.tt/2cjDfTn
http://ift.tt/2cjDfTn
dimanche 25 décembre 2016
Hey Everyone happy to meet you
Hey Everyone happy to meet you all,together,we shall do more to live Happier,healthier,wealthy Life
samedi 24 décembre 2016
Growth Hacking
Hey y'all
I was busy for a while and didn't stop here for a whole month (can you imagine), I usually answer questions when I can or try to get into some deep discussion (i like to talk), but now I wanted to see what you guys think about growth hacking. I hate how people get smart and think they've discovered something new by making up a new name, so that's why I tried to explain in my blog Growth Hacking . To me it's simply following numbers, stats, analytics and growing each day more. So say if you are doing cold calling, I know you can't get one customer more for each day, but you can optimize the calling on what has worked so far.
That's why I want to run it by you guys, what do you think growth hacking is to you, do you utilize it yourself, do you watch marketing metrics, analytics, how important is to re-optimize campaigns on weekly level, or is it monthly for you?
I've seen ford running one landing page, one ad for over 5 years, so it's not strange to leave something as is, if it works.
On the other hand most of the marketers keep on changing campaigns on weekly levels, running split tests and sometimes ruining the working campaigns.
Here are some tips for all of you:
Fax marketing - very easy to find online (or just buy atomic leads harvester and scrape both phones, emails faxes like crazy) and one of the best marketing tools - NO ONE CAN REFUSE A FAX :D - find send free fax via google and do your marketing
SMS (text) marketing - most of people use their cell phone numbers. How do you check if they can receive a text message? Send a message they'll reply to (I even tried cussing, and yes they always reply hahha) , but if you get few replies from the list, you'll get a lot of numbers. This is straight marketing and bothering, but everyone gets your message.
Flyers - make and print out cheap flyer, it can be from your laser printer, it doesn't matter. Have a high school kid hit all the small businesses around you
Guerrilla marketing - this is sooo effective that it's crazy how much new customers you can get this way. Say you do graphic design, you just get the kid to stand in front of any print shop and hand out fliyrs with your number on it and some samples. Or for real estate - have a kid stand in front of an open house (popular house that will sell), hit all those people with business cards and you are done (that's for real estate agents).
Cold emails - YES YOU CAN SPAM IN THE USA - it's not illegal to spam, and you send send emails without a problem to an INBOX - 100%inbox rate. Just use google account (not yours, it can be blocked if your emails are bad) and use google sheets with YET ANOTHER MAIL MERGE. Again the most important thing here is your mailing list, it has to be clean and not have many bounces. It doesn't matter if few people mark you as spam, it won't do anything, it's the bad emails that get you as a spammer, spam traps and known bad emails.
I think this is quality marketing for you to start really growing your leads and customers.
I was busy for a while and didn't stop here for a whole month (can you imagine), I usually answer questions when I can or try to get into some deep discussion (i like to talk), but now I wanted to see what you guys think about growth hacking. I hate how people get smart and think they've discovered something new by making up a new name, so that's why I tried to explain in my blog Growth Hacking . To me it's simply following numbers, stats, analytics and growing each day more. So say if you are doing cold calling, I know you can't get one customer more for each day, but you can optimize the calling on what has worked so far.
That's why I want to run it by you guys, what do you think growth hacking is to you, do you utilize it yourself, do you watch marketing metrics, analytics, how important is to re-optimize campaigns on weekly level, or is it monthly for you?
I've seen ford running one landing page, one ad for over 5 years, so it's not strange to leave something as is, if it works.
On the other hand most of the marketers keep on changing campaigns on weekly levels, running split tests and sometimes ruining the working campaigns.
Here are some tips for all of you:
Fax marketing - very easy to find online (or just buy atomic leads harvester and scrape both phones, emails faxes like crazy) and one of the best marketing tools - NO ONE CAN REFUSE A FAX :D - find send free fax via google and do your marketing
SMS (text) marketing - most of people use their cell phone numbers. How do you check if they can receive a text message? Send a message they'll reply to (I even tried cussing, and yes they always reply hahha) , but if you get few replies from the list, you'll get a lot of numbers. This is straight marketing and bothering, but everyone gets your message.
Flyers - make and print out cheap flyer, it can be from your laser printer, it doesn't matter. Have a high school kid hit all the small businesses around you
Guerrilla marketing - this is sooo effective that it's crazy how much new customers you can get this way. Say you do graphic design, you just get the kid to stand in front of any print shop and hand out fliyrs with your number on it and some samples. Or for real estate - have a kid stand in front of an open house (popular house that will sell), hit all those people with business cards and you are done (that's for real estate agents).
Cold emails - YES YOU CAN SPAM IN THE USA - it's not illegal to spam, and you send send emails without a problem to an INBOX - 100%inbox rate. Just use google account (not yours, it can be blocked if your emails are bad) and use google sheets with YET ANOTHER MAIL MERGE. Again the most important thing here is your mailing list, it has to be clean and not have many bounces. It doesn't matter if few people mark you as spam, it won't do anything, it's the bad emails that get you as a spammer, spam traps and known bad emails.
I think this is quality marketing for you to start really growing your leads and customers.
vendredi 23 décembre 2016
Best Business Funding Offer
This is the best offer for Entrepreneurs, Businessmen and Tycoons, the Investment department of Harrods Bank Ltd is offering business oriented customers all over the world a chance to start up that dream business or develop their already existing business by giving out investment funds from our Gold Investors Market. Business could be small, medium or large scale and repayment plan is very convenient unlike loans there are no monthly/annual repayments obligations, returns are made when duration elapses.
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
Best Business Funding Offer
This is the best offer for Entrepreneurs, Businessmen and Tycoons, the Investment department of Harrods Bank Ltd is offering business oriented customers all over the world a chance to start up that dream business or develop their already existing business by giving out investment funds from our Gold Investors Market. Business could be small, medium or large scale and repayment plan is very convenient unlike loans there are no monthly/annual repayments obligations, returns are made when duration elapses.
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
Best Business Funding Offer
This is the best offer for Entrepreneurs, Businessmen and Tycoons, the Investment department of Harrods Bank Ltd is offering business oriented customers all over the world a chance to start up that dream business or develop their already existing business by giving out investment funds from our Gold Investors Market. Business could be small, medium or large scale and repayment plan is very convenient unlike loans there are no monthly/annual repayments obligations, returns are made when duration elapses.
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
Terms and conditions for this offer are as follow:
• Beneficiary must be an Account holder with Harrods Bank Limited.
• Beneficiary must hold a government-issued identity (Passport, National ID or Driver’s License).
• Beneficiary should be able to present a valid bank statement/tax report for the last 6 months.
• Beneficiary must present a well-documented plan for the intended project and/or business.
• Beneficiary must be over 24 years.
To request for funds please contact me:
Frederick G. Lumb
Senior Financial Officer,
Harrods Bank Ltd
fredglumb@gmail.com
jeudi 22 décembre 2016
How to test a unique idea-Cereal Business
I have an idea for a cereal company that I have been thinking about for some time. I know this business has huge players, and shelf space is extremely difficult to get in grocery stores, and this would be ultra competitive. Is there anyway I could contract a cereal mill or manufacturer to produce a small batch of product I could then test/market to see if the idea would work. I am talking about spending a minimal amount before I take any sort of plunge. I am just in an idea phase, and would like to take some action to see if this idea has any potential. Do cereal companies own their own manufacturing plant/cereal mills? How do the little guys start on a budget? I see some small companies from time to time and startups in small local health food stores, I think this could be a good avenue for my idea, sell to the small local places, give to friends and family and see how the response is. If anyone has any experience or insight I would greatly appreciate it.
By the way my background is in finance/accounting, I have a bunch of ideas I have been accumulating, and I want to start taking some action. Thanks !
By the way my background is in finance/accounting, I have a bunch of ideas I have been accumulating, and I want to start taking some action. Thanks !
Sanity check my Facebook ad campaign figures please?
Hi Everyone,
I found this nice step-by-step instruction article for how to come up with a budget for a Facebook ad campaign. I tried to follow it for my own campaign and I'm not sure if I did it right because my final budget is so low. My goals for the campaign are extremely conservative, possibly ridiculously humble, so if my math is right that could be the reason right there. But I'd love another pair of eyeballs or three to check it out and make sure that I didn't make a dumb mistake in the math somewhere. If the reason for the teeny final budget figure is because the goals are so little, then I can increase the budget and do even better!
Please see the link just above and compare to this worksheet where I tried to follow along with him:
Screen Shot 2016-12-22 at 2.33.39 PM.jpg
I found this nice step-by-step instruction article for how to come up with a budget for a Facebook ad campaign. I tried to follow it for my own campaign and I'm not sure if I did it right because my final budget is so low. My goals for the campaign are extremely conservative, possibly ridiculously humble, so if my math is right that could be the reason right there. But I'd love another pair of eyeballs or three to check it out and make sure that I didn't make a dumb mistake in the math somewhere. If the reason for the teeny final budget figure is because the goals are so little, then I can increase the budget and do even better!
Please see the link just above and compare to this worksheet where I tried to follow along with him:
Screen Shot 2016-12-22 at 2.33.39 PM.jpg
Startup Nested - does anyone conjecture how it works?
https://nested.com/ - real estate startup that proposes to sell your house in 90 days or buy it.
can you conjecture how it works? Because it looks like to sell house in 3 months - not easy + buying the houses in case of not selling it - really crazy!
can you conjecture how it works? Because it looks like to sell house in 3 months - not easy + buying the houses in case of not selling it - really crazy!
mercredi 21 décembre 2016
How is it possible to connect a seller of houses and a buyer?
Hello everyone!
There is kind of idea: we made little audit and figure out that sellers of houses are ready to make good discount for the potential buyer. And the part of this discount can be good profit for us, as middleman.
In our country there are some websites where there sellers can publish there announcements.
Maybe someone has an idea how to connect sellers and buyers of houses via something special but not simple website and by comfortable way?
There is kind of idea: we made little audit and figure out that sellers of houses are ready to make good discount for the potential buyer. And the part of this discount can be good profit for us, as middleman.
In our country there are some websites where there sellers can publish there announcements.
Maybe someone has an idea how to connect sellers and buyers of houses via something special but not simple website and by comfortable way?
mardi 20 décembre 2016
Hiring a bookkeeper/office person
Got any tips?
I'm using a staffing agency. Three potentials. Two are about 50 one is maybe 30. I got a bad vibe from one. My wife got a bad vibe from one and the other is young. They all have nice personalities and adequate experience.
I'm using a staffing agency. Three potentials. Two are about 50 one is maybe 30. I got a bad vibe from one. My wife got a bad vibe from one and the other is young. They all have nice personalities and adequate experience.
Out in left field: any way to get supplier's perspective on a product?
I carry a particular brand of dog toy in my shop that I LOVE. They are hard-plastic puzzles that you play with your dog. The only problem with them is that they're expensive. Over this past year I've taken them to several in-person vending events and talked them up and got potential customers really interested in them. Then they ask about the price. They get a guarded, polite set expression on their faces and politely excuse themselves. These toys are THAT expensive.
I've noticed that the supplier I was getting them from is no longer carrying them. Because of the exhorbitant price, I'm ambivalent about whether I should find a new supplier that carries them or just drop them from my store. I emailed my supplier and asked for their thoughts on the matter; if they had trouble moving them because of the cost. They politely refused to answer that but just confirmed that they're not carrying them anymore.
In researching my products and supplier chains, I've noticed that there are new, different dog puzzles coming on the market that cost a LOT less. (I'm working on building a relationship with a supplier of these new toys also.) I'm wondering if this competition will force the first manufacturer to drop their prices to stay competitive. I would love to be able to ask this on some sort of supplier/distributor of pet products internet forum but I don't know of one that exists. LOL! Is this something that I can only go by my intuition and powers of deduction?
I've noticed that the supplier I was getting them from is no longer carrying them. Because of the exhorbitant price, I'm ambivalent about whether I should find a new supplier that carries them or just drop them from my store. I emailed my supplier and asked for their thoughts on the matter; if they had trouble moving them because of the cost. They politely refused to answer that but just confirmed that they're not carrying them anymore.
In researching my products and supplier chains, I've noticed that there are new, different dog puzzles coming on the market that cost a LOT less. (I'm working on building a relationship with a supplier of these new toys also.) I'm wondering if this competition will force the first manufacturer to drop their prices to stay competitive. I would love to be able to ask this on some sort of supplier/distributor of pet products internet forum but I don't know of one that exists. LOL! Is this something that I can only go by my intuition and powers of deduction?
lundi 19 décembre 2016
Hi! I am Jacob from PartnersEquity
Hey everybody!
My name is Jacob Brown and I represent Partner's Equity, we buy small businesses.
If you are a business owner interested in a buyout or just want to talk shop, PM me.
Happy to be part of the community
My name is Jacob Brown and I represent Partner's Equity, we buy small businesses.
If you are a business owner interested in a buyout or just want to talk shop, PM me.
Happy to be part of the community
Stock Monitoring Retail and Wholesale Quanties
We sell disposable tableware in both full wholesale cartons and individual packs on our website Mashers UK.
Would anyone have any experience with how to manage stock online for such a setup (we are about to build a new magento site).
e.g. if we have in stock 5 full cases of product1 which contains 12 individual pieces of product1p, we then have available to sell either 5 full cases or 12 pieces x 5 = 60 pieces.
In terms of stock management how would we keep track of this mixture of quantities, if for example 2 packs were sold we effectively no longer have 5 full cases available, likewise, if 1 full case was sold we no longer have 60 individual packs available to sell.
Is there any software or perhaps just a simple technique which could efficiently keep track of stock if items are sold in both wholesale and retail quantities from the same catalogue.
Many Thanks
Would anyone have any experience with how to manage stock online for such a setup (we are about to build a new magento site).
e.g. if we have in stock 5 full cases of product1 which contains 12 individual pieces of product1p, we then have available to sell either 5 full cases or 12 pieces x 5 = 60 pieces.
In terms of stock management how would we keep track of this mixture of quantities, if for example 2 packs were sold we effectively no longer have 5 full cases available, likewise, if 1 full case was sold we no longer have 60 individual packs available to sell.
Is there any software or perhaps just a simple technique which could efficiently keep track of stock if items are sold in both wholesale and retail quantities from the same catalogue.
Many Thanks
Could anyone please tell me where to find a business partner?
Its for an egaming venture with an investment of 40k
Tax/Insurance question
First post here.
I currently work a W-2 job. I am looking at quitting and working for my self. I was wondering about health insurance and how much of it is able to be written off? Can someone point me in the right direction?
I currently work a W-2 job. I am looking at quitting and working for my self. I was wondering about health insurance and how much of it is able to be written off? Can someone point me in the right direction?
samedi 17 décembre 2016
Business partner needed
Hello there, I am looking for a business partner for a very profitable venture.
Please message me to provide business plan details.
Thanks
Please message me to provide business plan details.
Thanks
Happy weekend
Hello everyone,
My name is Peter.
I am new to the Forum so i am excited to be able to contribute to your posts.
With over 30 years international financial, management and strategic experience, I offer a comprehensive suite of accounting and business advisory services for all business life cycle phases and across industry sectors. I specialize in Business Plans, Cash Flows, Business Advisory, Project Management and Financial Modelling.
Cheers,
Peter
My name is Peter.
I am new to the Forum so i am excited to be able to contribute to your posts.
With over 30 years international financial, management and strategic experience, I offer a comprehensive suite of accounting and business advisory services for all business life cycle phases and across industry sectors. I specialize in Business Plans, Cash Flows, Business Advisory, Project Management and Financial Modelling.
Cheers,
Peter
vendredi 16 décembre 2016
Business name using others Trademark?
Hi! Everyone,
I was wondering if a business name may be same as a Trademark from a different activity? I'd line to name my consulting business "First Innovadex" but "Innovadex" is a trademark for chemicals. My business is Quality management consulting, nothing to do with the trademark itself. Any feedback will be appreciated. Thank you!! Javier
I was wondering if a business name may be same as a Trademark from a different activity? I'd line to name my consulting business "First Innovadex" but "Innovadex" is a trademark for chemicals. My business is Quality management consulting, nothing to do with the trademark itself. Any feedback will be appreciated. Thank you!! Javier
jeudi 15 décembre 2016
Chinese registration of my domain name - is this bad?
Hi All,
I'm pretty conversant with the internet, it's really the risks of global use of the internet that I'm iffy on. I received an email claiming to be from a Chinese domain registration company telling me that they've received a request by someone in their country to register domains very similar to mine. My registered domain is Somethingspecialpetsupplies.com. They're saying that someone wants to register Somethingspecialpetsupplies.hk and .cn, etc. different Chinese suffixes.
If I allow this, what are the risks?
Also, I'm not sure if this is a legitimate email. Has anyone else ever received something like this? If it's legitimate, I really appreciate them warning me and allowing me to have a say in whether they grant the names or not. Or is it likely they're just going to tell me to spend money to register those domains myself (i.e. cash grab or ransom situation)? I was always under the impression that in certain other countries domain names are just taken/used, whether you like it or not or even know about it. Thoughts?
I'm pretty conversant with the internet, it's really the risks of global use of the internet that I'm iffy on. I received an email claiming to be from a Chinese domain registration company telling me that they've received a request by someone in their country to register domains very similar to mine. My registered domain is Somethingspecialpetsupplies.com. They're saying that someone wants to register Somethingspecialpetsupplies.hk and .cn, etc. different Chinese suffixes.
If I allow this, what are the risks?
Also, I'm not sure if this is a legitimate email. Has anyone else ever received something like this? If it's legitimate, I really appreciate them warning me and allowing me to have a say in whether they grant the names or not. Or is it likely they're just going to tell me to spend money to register those domains myself (i.e. cash grab or ransom situation)? I was always under the impression that in certain other countries domain names are just taken/used, whether you like it or not or even know about it. Thoughts?
Advice For Obtaining Funding
I am an entrepreneur who has started a number of different businesses. One thing I have found to be helpful in obtaining funding for my various businesses is to engage the services of a commercial loan broker. They are able to package business loan requests and shop them around to dozens of lenders in order to get the best available terms for the borrower. It sure beats going to your local bank, filling out all their paperwork and then being subject to the terms they choose to offer.
One broker I have been working with recently is Commonwealth Capital Solutions. Their website is commonwealthcapitalsolutions.com. They have helped me set up a line credit for one business and also with equipment financing for a laundromat I own. I like the fact it is quick and easy to apply for a loan request on their website. Good luck everyone!
One broker I have been working with recently is Commonwealth Capital Solutions. Their website is commonwealthcapitalsolutions.com. They have helped me set up a line credit for one business and also with equipment financing for a laundromat I own. I like the fact it is quick and easy to apply for a loan request on their website. Good luck everyone!
Northern CA small group health care plans?
Hello, trying to start a sole proprietorship consulting business with 2 employees (FT) and myself.
For the small business in the Bay area, what small business health insurance fees are you paying every month? Any tips to negotiate a discount?
Any real difference between Kaiser, anthem blue cross, health net, cinga, Aetna small group plans?
Costco seems to small business health care thing they sell. Haven't looked into it too deep.
Anyway..thank you.
For the small business in the Bay area, what small business health insurance fees are you paying every month? Any tips to negotiate a discount?
Any real difference between Kaiser, anthem blue cross, health net, cinga, Aetna small group plans?
Costco seems to small business health care thing they sell. Haven't looked into it too deep.
Anyway..thank you.
mercredi 14 décembre 2016
Software sold to Europe, VAT Applies?
Hello,
I'm planning on opening an eCommerce website in a niche market. The website only holds a digital inventory of license keys for certain software. We do not host the software itself.
My question is this: If I am a U.S based seller, how does VAT apply to me when I sell the software to UK, France, or Germany customers? Is there anything I should know about?
Regards,
Ryan
I'm planning on opening an eCommerce website in a niche market. The website only holds a digital inventory of license keys for certain software. We do not host the software itself.
My question is this: If I am a U.S based seller, how does VAT apply to me when I sell the software to UK, France, or Germany customers? Is there anything I should know about?
Regards,
Ryan
type of dividends
I own a c-corp with online retailer business. All profits are from the retails. what is the dividend type in this case
1a ordinary dividends;
1b qualified dividends,
2a captial gain distributions,
2b unrecaptured section 1250 gain.
I kinda think it should be 1b qualified dividends, but I am not very sure. Please give me your opinion. Thanks in advance.
1a ordinary dividends;
1b qualified dividends,
2a captial gain distributions,
2b unrecaptured section 1250 gain.
I kinda think it should be 1b qualified dividends, but I am not very sure. Please give me your opinion. Thanks in advance.
help with 1099 div preparation
Hi all,
I own a c-corp with online retailer business. All profits are from the retails. I am preparing the 1099-div form (with dividend distributed to my self). My questions is: there are 1a ordinary dividends; 1b qualified dividends, 2a captial gain distributions, 2b unrecaptured section 1250 gain. I kinda think it should be 1b qualified dividends, but I am not very sure. Please give me your opinion. Thanks in advance.
I own a c-corp with online retailer business. All profits are from the retails. I am preparing the 1099-div form (with dividend distributed to my self). My questions is: there are 1a ordinary dividends; 1b qualified dividends, 2a captial gain distributions, 2b unrecaptured section 1250 gain. I kinda think it should be 1b qualified dividends, but I am not very sure. Please give me your opinion. Thanks in advance.
New member looking for small business research participants!
Hi,
My name is Louisa and I just joined the Small Business Forum group. Although I have dabbled in entrepreneurship at various times in the past, but currently I'm working for ADP as a User Experience Researcher.
I'm not sure in which section to post this message, so I'll start here. I'm looking for small business owners who might be interested in participating in usability testing for a payroll software product for small businesses.
The usability sessions will take place this coming Friday (Dec. 16th), are conducted online (which means you'll need access to a phone and internet connection), and are 1-hour in duration. Participants will receive a $75 Amazon.com e-gift card as a token of our appreciation for their time and feedback.
Here is the participant criteria:
- Small business owner, located in the US
- There are between 2-10 employees in the company, including the business owner
- Salaried employees (a mix of part-timers is OK too)
- The small business owner is personally responsible for doing the company payroll (i.e. payroll not outsourced)
- The small business owner is considering outsourcing payroll in the future
Please email me at: louisa.holub <AT> adp <DOT> com if you are interested and eligible.
Thanks,
Louisa
My name is Louisa and I just joined the Small Business Forum group. Although I have dabbled in entrepreneurship at various times in the past, but currently I'm working for ADP as a User Experience Researcher.
I'm not sure in which section to post this message, so I'll start here. I'm looking for small business owners who might be interested in participating in usability testing for a payroll software product for small businesses.
The usability sessions will take place this coming Friday (Dec. 16th), are conducted online (which means you'll need access to a phone and internet connection), and are 1-hour in duration. Participants will receive a $75 Amazon.com e-gift card as a token of our appreciation for their time and feedback.
Here is the participant criteria:
- Small business owner, located in the US
- There are between 2-10 employees in the company, including the business owner
- Salaried employees (a mix of part-timers is OK too)
- The small business owner is personally responsible for doing the company payroll (i.e. payroll not outsourced)
- The small business owner is considering outsourcing payroll in the future
Please email me at: louisa.holub <AT> adp <DOT> com if you are interested and eligible.
Thanks,
Louisa
mardi 13 décembre 2016
What inspired you to start a business?
What inspired you to start your own business in the first place?
What field is it in?
How do you define success?
What field is it in?
How do you define success?
Howdy from OC California
Hi everyone,
New to the forum. I'm a marketer in the real estate industry and also started a company with a few friends.
Hoping to learn a lot from here and get business advice.
Cheers
-Tokyothekid
New to the forum. I'm a marketer in the real estate industry and also started a company with a few friends.
Hoping to learn a lot from here and get business advice.
Cheers
-Tokyothekid
lundi 12 décembre 2016
Big opportunities - no ideas. I need a piece of advice.
Hi, everyone.
I have good opportunities at 3 spheres of activities:
1. Use metal or plastic, or wood by perfect prices.
2. Create gadgets.
3. Technology "Neuronets" that gives an opprtunity to define different things. Simple example: this technology can distinguish cat from a dog, can sort cucumbers by size, mushrooms by their type - these examples are very simple. Just for giving you the understanding of this technology.
So what is the problem? The ideal variant for us - to combine these 3 spheres and create something really useful and profitable. Or at least to combine 2 of these spheres..
We have no enough good ideas that could be interesting for Europe (we are from Europe)
Maybe you will give us any pieces of advice..
Thanks beforehand!
I have good opportunities at 3 spheres of activities:
1. Use metal or plastic, or wood by perfect prices.
2. Create gadgets.
3. Technology "Neuronets" that gives an opprtunity to define different things. Simple example: this technology can distinguish cat from a dog, can sort cucumbers by size, mushrooms by their type - these examples are very simple. Just for giving you the understanding of this technology.
So what is the problem? The ideal variant for us - to combine these 3 spheres and create something really useful and profitable. Or at least to combine 2 of these spheres..
We have no enough good ideas that could be interesting for Europe (we are from Europe)
Maybe you will give us any pieces of advice..
Thanks beforehand!
I need to accomplish a unique shopping cart goal
This has been a thorn in my side for a while. I'm not ruling out any platforms / CMS / shopping carts at this point since I cant seem to find a clear solution anywhere. I want at the very least to find one feasible solution.
I'm trying to find a way to create a buyback shopping cart for a buyback site so I can purchase books from students as part of my business. This is the reverse of platforms now with items sold to consumers, but instead I'll be buying. The only related software I found on the market was a plugin for Magento oriented towards cellphone buyback sites: Buyback service (iPhones, iPads, iPods) | free & premium Magento extensions
Its the same principle but the process is eccentrically focused on phones with static prices (I'll be integrating a buyback algorithm) so that $250 would be more wisely spent elsewhere to create a custom solution for my own buyback process with books.
Here are sites implementing buyback carts:
http://ift.tt/2hoRWKc
http://ift.tt/2d9DcNZ
Sell Textbooks Online - Sell Textbooks Back For Cash
http://ift.tt/2gyVXds
Cheap Used Textbooks Online! | Rent Textbooks | Sell Textbooks Canada BookMob
In summary, are there any available shopping cart options where they are "buyback" carts instead? What would be my best bet for finding a buyback shopping cart? Where should I go to find a solution? What are your personal thoughts / suggestions?
Update: I've been told that the time it takes to modify any market shopping cart would exceed the time needed to write an entire custom shopping cart from scratch. Not sure if this is solid advice. I've also been told that the carts in these sites all are 100% custom - although im not sure if this means its built from the ground up or uses another shopping cart as a base to build off of.
What "caliber" of a project would a custom shopping cart like the one shown in these sites be? Is this a colossal task or it relatively easy for a competent programmer? What would a custom shopping cart like these generally cost? Any referrals on where I should source programmers to create me one? Would it be naive to seek a developer on Freelancer?
I'm trying to find a way to create a buyback shopping cart for a buyback site so I can purchase books from students as part of my business. This is the reverse of platforms now with items sold to consumers, but instead I'll be buying. The only related software I found on the market was a plugin for Magento oriented towards cellphone buyback sites: Buyback service (iPhones, iPads, iPods) | free & premium Magento extensions
Its the same principle but the process is eccentrically focused on phones with static prices (I'll be integrating a buyback algorithm) so that $250 would be more wisely spent elsewhere to create a custom solution for my own buyback process with books.
Here are sites implementing buyback carts:
http://ift.tt/2hoRWKc
http://ift.tt/2d9DcNZ
Sell Textbooks Online - Sell Textbooks Back For Cash
http://ift.tt/2gyVXds
Cheap Used Textbooks Online! | Rent Textbooks | Sell Textbooks Canada BookMob
In summary, are there any available shopping cart options where they are "buyback" carts instead? What would be my best bet for finding a buyback shopping cart? Where should I go to find a solution? What are your personal thoughts / suggestions?
Update: I've been told that the time it takes to modify any market shopping cart would exceed the time needed to write an entire custom shopping cart from scratch. Not sure if this is solid advice. I've also been told that the carts in these sites all are 100% custom - although im not sure if this means its built from the ground up or uses another shopping cart as a base to build off of.
What "caliber" of a project would a custom shopping cart like the one shown in these sites be? Is this a colossal task or it relatively easy for a competent programmer? What would a custom shopping cart like these generally cost? Any referrals on where I should source programmers to create me one? Would it be naive to seek a developer on Freelancer?
samedi 10 décembre 2016
Profit Sharing Percentage
Dear Members,
I have no past experience in the field of business and I need your advice/opinion for a new business opportunity offered to me by a friend living in Pakistan (while I live in Saudi Arabia).
My friend in Pakistan has some excellent business plans which are really workable however he has no money to invest. Therefore, he is asking me to do full investment and he will put all his efforts to set up and manage the business. In return, he will share 50% profits with me.
He will also charge a salary (X-amount) on monthly basis for a period of one year.
Could you please help me in finalising this proposition? Is it worth going or useless?
I know for many of you, this could be a silly question. However, I need your help because I have no experience and knowledge about these things. Please give me your advice to better protect my investment and make this offer more meaningful for both of us.
Thanks and regards
I have no past experience in the field of business and I need your advice/opinion for a new business opportunity offered to me by a friend living in Pakistan (while I live in Saudi Arabia).
My friend in Pakistan has some excellent business plans which are really workable however he has no money to invest. Therefore, he is asking me to do full investment and he will put all his efforts to set up and manage the business. In return, he will share 50% profits with me.
He will also charge a salary (X-amount) on monthly basis for a period of one year.
Could you please help me in finalising this proposition? Is it worth going or useless?
I know for many of you, this could be a silly question. However, I need your help because I have no experience and knowledge about these things. Please give me your advice to better protect my investment and make this offer more meaningful for both of us.
Thanks and regards
vendredi 9 décembre 2016
Questions regarding first establishing your EIN?
I live in the state of Florida and through my research it seems that in at least some states, it is required that you file taxes for your SSN and EIN each year, even if your business makes $0. Does anyone know if this is true in my state?
I am in the process of getting this business up and running, though it will probably take a few years before everything is set in place and the first product is ready to be sold. I filed for an LLC in January of this year, however I have not yet established an EIN.
I am looking to undergo a funding program in the next couple of months that combines business and personal funding. (I do have the option to go strictly personal, but it would result in a lot less capital). In order to do this, I need a business bank account set up, which of course is where the SS4-form would come into play.
If I am not at the point yet where I would be able to "prove" that I did not make any money from the business, could creating an EIN too early come back to haunt me in the future? It seems that most people say that creating one really does not affect you in any way, but I also know that it means you are another statistic in the world of businesses in the eyes of the IRS and I want to fully understand what I'm getting myself into first.
ALSO. If anyone has any strong preferences toward going the sole prop or s-corp etc. route, please advise. The more insight the better. :)
I am in the process of getting this business up and running, though it will probably take a few years before everything is set in place and the first product is ready to be sold. I filed for an LLC in January of this year, however I have not yet established an EIN.
I am looking to undergo a funding program in the next couple of months that combines business and personal funding. (I do have the option to go strictly personal, but it would result in a lot less capital). In order to do this, I need a business bank account set up, which of course is where the SS4-form would come into play.
If I am not at the point yet where I would be able to "prove" that I did not make any money from the business, could creating an EIN too early come back to haunt me in the future? It seems that most people say that creating one really does not affect you in any way, but I also know that it means you are another statistic in the world of businesses in the eyes of the IRS and I want to fully understand what I'm getting myself into first.
ALSO. If anyone has any strong preferences toward going the sole prop or s-corp etc. route, please advise. The more insight the better. :)
jeudi 8 décembre 2016
Laws/best practices around staffing vacation coverage
Hi guys,
I'll be going on a 2-week vacation in June where I'll be completely off the grid, no cell signals even if I wanted to check in. I need to get someone to cover for me on basic operations of my shop, and I have someone in mind. She will only need to monitor my sales email account for any orders that come in, and log into my shop and fulfill them, maybe answer a customer inquiry by email. Fairly easy, and because my sales volume is very low (maybe 1 - 3 orders/month), I don't think it's enough to warrant doing the paperwork of hiring her.
I currently have no employees, just run the shop by myself. As you can see, my volume doesn't yet support additional staffing and I can't really afford to pay her on an hourly basis. I would "thank" her with a nice gift or something. I do need to cover my absence, but I don't want to look like I'm (or actually be) exploiting her. Should I set up a 1099 arrangement, or is doing it on a favor between friends with a nice gift in exchange generally okay for something of this size/time duration?
I'll be going on a 2-week vacation in June where I'll be completely off the grid, no cell signals even if I wanted to check in. I need to get someone to cover for me on basic operations of my shop, and I have someone in mind. She will only need to monitor my sales email account for any orders that come in, and log into my shop and fulfill them, maybe answer a customer inquiry by email. Fairly easy, and because my sales volume is very low (maybe 1 - 3 orders/month), I don't think it's enough to warrant doing the paperwork of hiring her.
I currently have no employees, just run the shop by myself. As you can see, my volume doesn't yet support additional staffing and I can't really afford to pay her on an hourly basis. I would "thank" her with a nice gift or something. I do need to cover my absence, but I don't want to look like I'm (or actually be) exploiting her. Should I set up a 1099 arrangement, or is doing it on a favor between friends with a nice gift in exchange generally okay for something of this size/time duration?
Hey eveybody
Hi all,
Just wanted to introduce myself as a brand new member, looking to move out to Hua Hin permanently in June/July next year to the Emerald Scenery development. Hoping to meet new friends, catch up with some old friends and basically blend into ex-pat life over there. I'm sure there will be a load of stuff which I'll be pestering you all about pre-move !
Cheers,
jhonnydepp
Top
Just wanted to introduce myself as a brand new member, looking to move out to Hua Hin permanently in June/July next year to the Emerald Scenery development. Hoping to meet new friends, catch up with some old friends and basically blend into ex-pat life over there. I'm sure there will be a load of stuff which I'll be pestering you all about pre-move !
Cheers,
jhonnydepp
Top
mercredi 7 décembre 2016
Looking for someone with experience selling on eBay and amazon
Hello everyone,
I'm curious about selling on eBay. I'm capable of setting up the eBay store and listing the items. What I'm really interested in learning is what makes a eBay store successful.
What kind of profit margin do you need on products?
How many different products should you have listed?
Is it better to sell $100 products or $5 products?
Is it better to carry similar products like all pet supplies, or all car cleaning supplies?
Or better to carry random items, just a little bit of everything?
I have some products in mind. A few high priced products and even more low cost items. It won't be hard to find other products in the same field either. I actually ran across this potential opportunity by accident. Please share with me any knowledge or experience you may have with eBay and Amazon.
I'm curious about selling on eBay. I'm capable of setting up the eBay store and listing the items. What I'm really interested in learning is what makes a eBay store successful.
What kind of profit margin do you need on products?
How many different products should you have listed?
Is it better to sell $100 products or $5 products?
Is it better to carry similar products like all pet supplies, or all car cleaning supplies?
Or better to carry random items, just a little bit of everything?
I have some products in mind. A few high priced products and even more low cost items. It won't be hard to find other products in the same field either. I actually ran across this potential opportunity by accident. Please share with me any knowledge or experience you may have with eBay and Amazon.
Buy a Business or Start One
I have a question about buying a business vs. starting one and I would love some insight, feedback and thoughts.
It is an internet business. An ecommerce store that sells gift items via dropship. The items have a pretty good markup at about 40% on average and they wholesale from 30-100 dollars. But, this is not a unique business by any means. Still, it makes money. And has been around for 10+ years online (I dont know how much it made in previous years but from 2013 on it has been in the 40k-70k range. the from 70k to 40k is from a brick and mortar aspct of the store closing down as they focuses only in online sales. So now it is steady in the 40-50k range.)
The business does about $4500 profit a month and the owner is looking for 170k. I think that is a bit high as that is above a 3x multiple. So, to me, I think a 125k is a more fair price.
The current owner spends about 3-4 hours a day. I plan to continue my 9-5 job and only do work at night... seo, marketing, linkbuilding, new features, etc.
The business does not have much overhead. The current owner only places orders with the dropshipper (which I will automate) and handles phonecalls (not sure how I will handle this, yet, but I need to figure that out) other than that there is occasional web development which I would handle and updating items which I will also handle, both of these can be after hours.
So, the only iffy things are placing orders and being available for the occasional phone call. But again, I can automate the order placing and if I can figure out how best to handle the phones... Im in good shape I think.
But, this all only matters if I can get the price down.
Now, all that is just to give you some background.
Here is what I am questioning. Since it is a dropship business it is easy to create--a very low barrier to entry. Between shopify and dropshippers I could create this store in no time. So I think, why not create the store and spend a fraction of 170k on marketing, link building, seo, etc. Lets say I allocated 100k for that just for argument sake. Could you generate the same kind of business... 4k a month?
When I look at this business, I see it makes money, which is great. But it doesnt rank well for the big keywords (naturally, the big players have that cornered) and I dont see a whole lot of backlinks. There is no social media push. So I am thinking, where the heck are all these sales coming from? No social media outreach, fee backlinks, so-so ranking as far as I can tell. Cant a big budget catch up to that pretty quickly?
I am sure there are things I am missing because, otherwise, anyone with 100k to spend would create a dropship business and rake in 40k a year no problem. But what am I missing? I am expecting someone here to give me an epiphany and say "but you're not understanding this.." or "but dont forget this..."
It doesnt LOOK like it should be making 4k profit per month (about 10k total sales or more) but it is. If I could build this and generate the same results within a year or two I would... but I dont want to pass up a proven money maker only to struggle to make a fraction of it for the first few, maybe several, years.
It is an internet business. An ecommerce store that sells gift items via dropship. The items have a pretty good markup at about 40% on average and they wholesale from 30-100 dollars. But, this is not a unique business by any means. Still, it makes money. And has been around for 10+ years online (I dont know how much it made in previous years but from 2013 on it has been in the 40k-70k range. the from 70k to 40k is from a brick and mortar aspct of the store closing down as they focuses only in online sales. So now it is steady in the 40-50k range.)
The business does about $4500 profit a month and the owner is looking for 170k. I think that is a bit high as that is above a 3x multiple. So, to me, I think a 125k is a more fair price.
The current owner spends about 3-4 hours a day. I plan to continue my 9-5 job and only do work at night... seo, marketing, linkbuilding, new features, etc.
The business does not have much overhead. The current owner only places orders with the dropshipper (which I will automate) and handles phonecalls (not sure how I will handle this, yet, but I need to figure that out) other than that there is occasional web development which I would handle and updating items which I will also handle, both of these can be after hours.
So, the only iffy things are placing orders and being available for the occasional phone call. But again, I can automate the order placing and if I can figure out how best to handle the phones... Im in good shape I think.
But, this all only matters if I can get the price down.
Now, all that is just to give you some background.
Here is what I am questioning. Since it is a dropship business it is easy to create--a very low barrier to entry. Between shopify and dropshippers I could create this store in no time. So I think, why not create the store and spend a fraction of 170k on marketing, link building, seo, etc. Lets say I allocated 100k for that just for argument sake. Could you generate the same kind of business... 4k a month?
When I look at this business, I see it makes money, which is great. But it doesnt rank well for the big keywords (naturally, the big players have that cornered) and I dont see a whole lot of backlinks. There is no social media push. So I am thinking, where the heck are all these sales coming from? No social media outreach, fee backlinks, so-so ranking as far as I can tell. Cant a big budget catch up to that pretty quickly?
I am sure there are things I am missing because, otherwise, anyone with 100k to spend would create a dropship business and rake in 40k a year no problem. But what am I missing? I am expecting someone here to give me an epiphany and say "but you're not understanding this.." or "but dont forget this..."
It doesnt LOOK like it should be making 4k profit per month (about 10k total sales or more) but it is. If I could build this and generate the same results within a year or two I would... but I dont want to pass up a proven money maker only to struggle to make a fraction of it for the first few, maybe several, years.
close a business
Dear all,
I am a small c corp business owner doing online sales, I am the only employee. I have been running it for a couple of years. The business is not good this year and I would like to close it. It would be great if I can do this by the end of this year. I have done some research online, but still confused about some points.
1) I still have some cash in the business bank account. Do I have to zero out the balance (by distributing as dividend) at the end of this year？ My question is: the tax return of this year will not be filed until early 2017. I would have to leave some money in the bank account to pay the federal/state tax. It is not possible to zero out the balance at the end of this year.
2) I also went over the checklist for closing a business, which seems to be a little lengthy and complicated. Since I am the only owner, could someone advise the necessary steps to do so?
3) If I can not close the business by the end of this year (for some reason, such as the issue I raised in question 1), can I just do it at the beginning of 2017? I will stop doing the business definitely. I will leave funding to make sure it is enough for the federal/state tax 2016. After tax return, all I have with my business would be some money in the account. If I choose to do close the business at that time, I still have to file a final tax return. Is it that the tax return in 2017 can only be filed between 1/1/2018 and 3/15/2018 or I can just file a tax return of 2017 at any time of the year.
Thanks in advance for you inputs.
I am a small c corp business owner doing online sales, I am the only employee. I have been running it for a couple of years. The business is not good this year and I would like to close it. It would be great if I can do this by the end of this year. I have done some research online, but still confused about some points.
1) I still have some cash in the business bank account. Do I have to zero out the balance (by distributing as dividend) at the end of this year？ My question is: the tax return of this year will not be filed until early 2017. I would have to leave some money in the bank account to pay the federal/state tax. It is not possible to zero out the balance at the end of this year.
2) I also went over the checklist for closing a business, which seems to be a little lengthy and complicated. Since I am the only owner, could someone advise the necessary steps to do so?
3) If I can not close the business by the end of this year (for some reason, such as the issue I raised in question 1), can I just do it at the beginning of 2017? I will stop doing the business definitely. I will leave funding to make sure it is enough for the federal/state tax 2016. After tax return, all I have with my business would be some money in the account. If I choose to do close the business at that time, I still have to file a final tax return. Is it that the tax return in 2017 can only be filed between 1/1/2018 and 3/15/2018 or I can just file a tax return of 2017 at any time of the year.
Thanks in advance for you inputs.
Where and how do you purchase products?
Where and how do you purchase products? B2B, market? or other?
Establish Real Estate Marketing Agency Business
We run a Agency named Rehabhousing. It is a Online Marketing Base Real Estate Business in Bangladesh. It is a Best Real estate Portal in Our Country. We use very Unique Marketing Policy for your Business and getting leads Everyday. But we want to more leads from world wide. SO what can we do for worldwide marketing. Please suggest us for better Business.
mardi 6 décembre 2016
PayPal Working Capital
I need a loan of $5,000 to buy inventory. 99% of my sales are processed by PayPal.
PayPal Working Capital is offering me $5,000 for a one time fee of $245 plus 30% of my sales until the $5,000 is paid off. Time frame is estimated at between 5 and 6 months. This sounds like a good deal to me. No financing to fight about and kinda pay-as-you-go. I don't have to worry about getting buried under payments.
But, is it to good to be true?
Thanks again, Tom
PayPal Working Capital is offering me $5,000 for a one time fee of $245 plus 30% of my sales until the $5,000 is paid off. Time frame is estimated at between 5 and 6 months. This sounds like a good deal to me. No financing to fight about and kinda pay-as-you-go. I don't have to worry about getting buried under payments.
But, is it to good to be true?
Thanks again, Tom
Forming a LLC in Florida
I started a business as a hobby a few years ago. To my surprise It's doing well. I've now moved to the state of Florida and I'm ready to start a LLC.
I was going to use Legal Zoom but after reading reviews I've been talked out of it. Is this something I can do myself by going to the court house? Or do I need to hire an attorney? I really don't want to spend a lot of money because I'm kinda boot strapping this business and and money spent there is less inventory I can buy.
Any advice is a appreciated.
Tom
I was going to use Legal Zoom but after reading reviews I've been talked out of it. Is this something I can do myself by going to the court house? Or do I need to hire an attorney? I really don't want to spend a lot of money because I'm kinda boot strapping this business and and money spent there is less inventory I can buy.
Any advice is a appreciated.
Tom
New kid on the block
Whats happening everyone!!
My name is Chad. I'm a 29 year old entrepreneur that is self-employed right now with a small business I started 3 years ago. Business has been a major passion and focus of mine since I was 17 and started my first venture. I've started 6 businesses total and have learn some huge lessons from each one. I'm currently looking for another opportunity for a start up. I joined this forum to meet new people and talk about new business opportunities. I enjoy talking about business and I'm hoping to exchange some knowledge with everyone here.
My name is Chad. I'm a 29 year old entrepreneur that is self-employed right now with a small business I started 3 years ago. Business has been a major passion and focus of mine since I was 17 and started my first venture. I've started 6 businesses total and have learn some huge lessons from each one. I'm currently looking for another opportunity for a start up. I joined this forum to meet new people and talk about new business opportunities. I enjoy talking about business and I'm hoping to exchange some knowledge with everyone here.
Free Financial Modelling for your business
Hi, just a short introduction about myself, I graduated with an accountancy degree and started working in related industry 2 years ago. I began to develop an interest in financial modelling and helped my friend’s startup to develop financial model for forecasting and operational uses. I am doing this out of interest and do not charge any fee. If your business need help, you can email me at and.app28@gmail.com, as I don’t login to this forum often. On a 1st come 1st serve basis
Living off rental property?
So here's the deal. I have had a small townhouse that I've been renting out for about 6 years now. I've dealt with mostly everything (4 tenants, lawsuit, trashed place). I believe I have enough experience with being a Landlord that it would not be too much of an issue to take on another property. I have lots of experience doing remodels (kitchen/bathroom) lots of repairs (myself).
However, I want to see if I could "make a living off this". My property is in Baltimore, I'm looking at purchase another "foreclosure/rehab" somewhere in the city with a rent potential of at lease $1200 or so a month. My thinking is if I could get several of these (individual houses) It could make a pretty large supplement to my income. Major problem is I don't have much liquid to buy the entire thing, I'm planning to use a mortgage (paying 20%).
Could you essentially make a living off individual units (homes)? Would have have to purchase an apartment complex?
Thanks
However, I want to see if I could "make a living off this". My property is in Baltimore, I'm looking at purchase another "foreclosure/rehab" somewhere in the city with a rent potential of at lease $1200 or so a month. My thinking is if I could get several of these (individual houses) It could make a pretty large supplement to my income. Major problem is I don't have much liquid to buy the entire thing, I'm planning to use a mortgage (paying 20%).
Could you essentially make a living off individual units (homes)? Would have have to purchase an apartment complex?
Thanks
Donation Towards Customer XMAS Party
My customers ask me every year to donate towards their company holiday party. Cash, checks, gift cards, merchandise, etc. I'm curiose to know how other small business owners handle this situation and how do they determine an appropriate dollar amount???
College Advice & Debt
Hello everyone! I wanted to ask here about a choice I need to make and was wondering if you guys had any advice. Basically, I applied for 3 schools and got accepted to all 3. Two in are in the state of Maine, the other is in New York. I'm enrolling for finance and minoring in computer science, they only problem is the school is New York is highly ranked but is a lot more expensive.
University of Maine - $24,000 a year (with tuition, room, fees, books, etc.)
Husson University - $25,000 a year (with tuition, room, fees, books, etc.)
Syracuse University - $59,000 (with tuition, room, fees, books, etc.)
I don't get a ton of financial aid since last year my parents made a lot more money, but either way I'm still going to be in a sheer amount of debt. If I go to Syracuse, I'll be $200,000 in debt but at UMO I'll be in half of that. For those that have gone to college and have had to pay substantial student debt, what would you recommend, especially for my choice in a degree?
Thanks
University of Maine - $24,000 a year (with tuition, room, fees, books, etc.)
Husson University - $25,000 a year (with tuition, room, fees, books, etc.)
Syracuse University - $59,000 (with tuition, room, fees, books, etc.)
I don't get a ton of financial aid since last year my parents made a lot more money, but either way I'm still going to be in a sheer amount of debt. If I go to Syracuse, I'll be $200,000 in debt but at UMO I'll be in half of that. For those that have gone to college and have had to pay substantial student debt, what would you recommend, especially for my choice in a degree?
Thanks
lundi 5 décembre 2016
Quick thoughts on this video outro
I'm starting work on my company's first video advertisement, and I created this outro for the video timed to the last bit of the music we intend to use. I know it's not much, but if anyone has any quick thoughts, compliments, or criticism, I'd appreciate hearing anything that comes to mind. I will of course post the full video when it is complete.
Thanks guys!
Thanks guys!
Hello SBF Community
I wanted to take a moment to introduce myself to the SBF Community. My name is John Ridgeway and I am a retired law enforcement professional. I am still active in investigations for a major company where I am a corporate security manager.
After years of experience in law enforcement and corporate investigations, I decided to start a blog to help business owners with strategies to fight crimes against their business on all levels.
If I can answer any questions surrounding crime prevention, strategies, and solutions please feel free to contact me.
I look forward to conversing with everyone!
After years of experience in law enforcement and corporate investigations, I decided to start a blog to help business owners with strategies to fight crimes against their business on all levels.
If I can answer any questions surrounding crime prevention, strategies, and solutions please feel free to contact me.
I look forward to conversing with everyone!
Point of Sale System - Recommendations, Rumours, Rants. I'll even accept Scuttlebutt.
Good day,
I apologize if this subject has been discussed. I couldn't find it by searching, but sometimes the nomenclature varies.
We currently use Microsoft RMS in our store. We are at a crossroads, in that we are considering whether we should look at an alternative, or double down with some reinvestment in RMS.
There are rumours that RMS is destined to be discontinued, fuelled not the least by an email we got from the third-party support provider declaring "RMS is Not Dead." To me, that's a sure sign that it is on its way out.
Does anybody know anything about RMS' future? Are there better alternatives out there? It's hard to get decent information, when anybody with an opinion is a stakeholder.
Any help is appreciated.
The Accidental Entrepreneur
Edit: If it matters, we are a small brick & mortar with six employees.
I apologize if this subject has been discussed. I couldn't find it by searching, but sometimes the nomenclature varies.
We currently use Microsoft RMS in our store. We are at a crossroads, in that we are considering whether we should look at an alternative, or double down with some reinvestment in RMS.
There are rumours that RMS is destined to be discontinued, fuelled not the least by an email we got from the third-party support provider declaring "RMS is Not Dead." To me, that's a sure sign that it is on its way out.
Does anybody know anything about RMS' future? Are there better alternatives out there? It's hard to get decent information, when anybody with an opinion is a stakeholder.
Any help is appreciated.
The Accidental Entrepreneur
Edit: If it matters, we are a small brick & mortar with six employees.
Why you need to reduce the amount of clicks on your website
These says when we talk about design or review an ecommerce website with feedback, someone almost always mentions that there are too many steps to get to the point.
I have this fight all the time with clients. They're so scared that they won't get to say and do everything they imagined, and want desperately for people to marvel at the design that they add a lot of unnecessary obstructions to their website doing it's job.
Too much style that gets in the way of function. People get frustrated and bored easily. If you don't get to the point they'll spend more time looking for simple than they will trying to figure out your maze of BS.
Here's a good article that explains how and why technology is getting simpler and why you should too.
Why 'Reduce Clicks’ Needs to be Your E-Commerce Mantra - 'Net Features - Website Magazine
There was an old commercial, "How many licks does it take to get to the center of a Tootsie Roll Tootsie Pop?".
You can apply that to the web now. How many clicks does it take for your website visitors to find what they're looking for and perform whatever action you want them to?
I have this fight all the time with clients. They're so scared that they won't get to say and do everything they imagined, and want desperately for people to marvel at the design that they add a lot of unnecessary obstructions to their website doing it's job.
Too much style that gets in the way of function. People get frustrated and bored easily. If you don't get to the point they'll spend more time looking for simple than they will trying to figure out your maze of BS.
Here's a good article that explains how and why technology is getting simpler and why you should too.
Why 'Reduce Clicks’ Needs to be Your E-Commerce Mantra - 'Net Features - Website Magazine
There was an old commercial, "How many licks does it take to get to the center of a Tootsie Roll Tootsie Pop?".
You can apply that to the web now. How many clicks does it take for your website visitors to find what they're looking for and perform whatever action you want them to?
dimanche 4 décembre 2016
Let me know what you think!
Hi guys my name is Cameron,
As some of you I am a small online business owner and I am looking for some feedback on my up and coming website i'll leave a link down below that will direct you stright to my website and you will then be able to check out the whole website and then leave feedback right on the site.
The website isn't fully done yet I am still working on it, If you feel like checking it out and leaving some feedback then click on the link below and you will then be directed straight to the site. THANKS OR YOUR TIME! :)
http://wix.to/4YAlAAo
As some of you I am a small online business owner and I am looking for some feedback on my up and coming website i'll leave a link down below that will direct you stright to my website and you will then be able to check out the whole website and then leave feedback right on the site.
The website isn't fully done yet I am still working on it, If you feel like checking it out and leaving some feedback then click on the link below and you will then be directed straight to the site. THANKS OR YOUR TIME! :)
http://wix.to/4YAlAAo
Drones
I am starting to think about buying a drone with the goal of getting some pretty cool videos of my products in action. Possibly some cool photos as well but the videos are my top priority. I see a cheap one on Amazon that looks pretty cool but I don't want to cut corners. I am thinking about either a DJI Phantom 3 or a DJI Phantom 4 at the moment but am quite flexible and don't even know enough about drones to ask intelligent questions. So I am wondering if anyone has a drone and has any suggestions or recommendations either about models or features I should look for.
What are the possible investment options for a 10 million dollar portfolio?
What are the possible investment options for a 10 million dollar investment portfolio?
There is no restriction to location of investment or type of investment though Hospitality/Leisure or Energy/Oil Industries tops the preference.
A management fee is attached to this portfolio or the option of equity stake in the successful project that the investment funds manager will oversee from design, groundbreaking, commissioning and operations.
I am open to private discussions via my email stanleyhammerton@gmail.com as well as discussions on this forum.
Thank you
S. Hammerton
There is no restriction to location of investment or type of investment though Hospitality/Leisure or Energy/Oil Industries tops the preference.
A management fee is attached to this portfolio or the option of equity stake in the successful project that the investment funds manager will oversee from design, groundbreaking, commissioning and operations.
I am open to private discussions via my email stanleyhammerton@gmail.com as well as discussions on this forum.
Thank you
S. Hammerton
do you think this will work well enough to leave my job in 6 months
ok i work in maintenance for a property manangement compeny been here for 4 years now. Started off as the painter and in 3 months made maintenance supper. from $12 to $18 an hr in 4 years. We mananage 12 apartment complexes and about 200 houses and i over see all departments in maintenance. Be for this i worked for myself in home improvements and for my brother who ownes a home improvement comp. with 12 men and brings in $800,000.00 a year now. From my 4 years with this comp. i have learned a lot. I want to start a maintenance solution comp who takes on work orders, make readys and section 8 inspection lists for rental property. So far i have picked up one guy with 25 apartments and i charge him $30.00 an hour + material ( 20% mark up ). so far its keeping just me busey after hrs. and weekends. I also picked up a facility maintenance compeny with 1-2 work orders a month and the lowest net pay with them is $150.00 a work order.My plans are to have about 10 of the facility maintenances comp. with pay turn around every 30-45 days and as many rental propertys i can get hire someone to do the work for me for $15 an hr. ( i charge apartment work orders $30.00 an hr ) and facility maintenance is set net pay and in 6 months leave my full time job to do my own. My thoughts was after 6 months the 30-45 day turn around for facility maintenance would be paying every day or other day depends on how many facility maintenance comps. i have and the apartment maintenance pays up on invoice turn in. so between apartment and facility maintenance in 6 months do u think they would be enough money coming in for me to leave my job and hire one guy. I have talked to my brother who ownes his own home improvement comp. and makes good and a few other ppl and they think i should go for it. any thoughts on this.
samedi 3 décembre 2016
Simple inventory systems?
I have a very small business that has about 60 different items that I sell on eBay. I'm looking for a inventory system to maintain them. The problem I'm having is I want very simplistic system. All I want is a bar code on a shelf that I can scan when I remove or add a item. Then when I want to, run a report to show me inventory amounts to know if I should order stock or not.
I've tried a few free downloadable programs that worked ok but I had to adjust numbers by hand. And they wanted to be used with POS systems that I don't have or want.
The reason I don't want a POS system is that I sell items that are sold in different combinations. I sell one item that can be sold alone or with 6 other different combinations. That's why I can't use eBay's inventory numbers.
My sales or going up and inventory numbers are growing. I need to control inventory better than manual counts. I'm running out of items and that's not good for business. I've also ordered product and then found a case of what I ordered in a corner.
Does anyone have any ideas about this?
I'm sure a simple excel spreadsheet would do what I want. But how would I link that up to a Barcode scanner?
Any ideas or thoughts are appreciated and thanks in advance.
I've tried a few free downloadable programs that worked ok but I had to adjust numbers by hand. And they wanted to be used with POS systems that I don't have or want.
The reason I don't want a POS system is that I sell items that are sold in different combinations. I sell one item that can be sold alone or with 6 other different combinations. That's why I can't use eBay's inventory numbers.
My sales or going up and inventory numbers are growing. I need to control inventory better than manual counts. I'm running out of items and that's not good for business. I've also ordered product and then found a case of what I ordered in a corner.
Does anyone have any ideas about this?
I'm sure a simple excel spreadsheet would do what I want. But how would I link that up to a Barcode scanner?
Any ideas or thoughts are appreciated and thanks in advance.
Hi I'm Tom
Hi I'm Tom. I few years ago I got into a hobby using tools made back in the 1950's. I soon found out that the tooling used with them was either worn out after 60 years of use or the replacement parts were junk and expensive. So I found suppliers and manufactures that were willing to make small runs of high quality tooling and sell low quantity's.
I started selling these on ebay at reasonable prices. I added items that people requested and took some out that didn't sell well. I have about 60 items but their sold in different set-ups so I may have around 100 to 120 different combinations.
Now that I moved to the state of Florida I'm thinking I should form a LLC and become a real business.
So I'm here looking for advice on forming the LLC, accounting, Inventory systems and stuff like that.
I hope I'm in the right place.
I started selling these on ebay at reasonable prices. I added items that people requested and took some out that didn't sell well. I have about 60 items but their sold in different set-ups so I may have around 100 to 120 different combinations.
Now that I moved to the state of Florida I'm thinking I should form a LLC and become a real business.
So I'm here looking for advice on forming the LLC, accounting, Inventory systems and stuff like that.
I hope I'm in the right place.
Mailchimp merge tags and posting to social media
I'm creating my first email campaign with Mailchimp, and going with marketing best practices, I've personalized the top of the email with "hello fname", using the correctly formatted merge tags, of course. It works fine when I test it. When I started setting it up, there were some general campaign questions I had to answer, a couple of which were whether I'd like to also broadcast the email to Facebook and Twitter. Of course I do, thanks! My question (that I could not find in the Mailchimp knowledgebase) is if those merge tags will be replaced with blanks in the social media broadcasts (which is ideal) or if they'll just remain visible merge tags? Anybody here know?
Restated, in case the question is muddled, the top of my draft email says: Hello *|fname|*
When sent to my subscribers, it will look like this: Hello Sharon
When sent to Facebook and Twitter, I'd like it to look like this: Hello
and not like: Hello <<First Name>>
Restated, in case the question is muddled, the top of my draft email says: Hello *|fname|*
When sent to my subscribers, it will look like this: Hello Sharon
When sent to Facebook and Twitter, I'd like it to look like this: Hello
and not like: Hello <<First Name>>
Is dark traffic good for SEO?
Since when I started to monitor my website, this question is rolling in my mind. I searched for it and found that the dark traffic refers to the unknown sources or medium of website traffic. Is dark traffic good for SEO?
Hello everyone!
Hello,
I am running a business which deals with various online assets. I am an adviser who helps SMBs to thrive in their business. Hope we would share good knowledge over here.
I am running a business which deals with various online assets. I am an adviser who helps SMBs to thrive in their business. Hope we would share good knowledge over here.
vendredi 2 décembre 2016
Insurance for webmasters/SEM?
My question: What type and where do I find insurance for my particular business? I have been looking for a policy and have talked to several agents but have not had much luck finding a policy. A lot of people don't seem to understand exactly what I do or that I really don't have any "clients."
My business: I develop/create websites for ONLY myself. I derive all of my income from advertising fees, I utilize Google Adsense and Amazon affiliate links mostly. I do not sell any physical products at all. Currently I have 7 sites, all about different niches. This coming year I am making some changes within my business including the formation of an LLC, hiring an accountant and hopefully finding some insurance. I will also be looking the possibility of buying existing websites from other people this coming year also.
My fear: Someone will sue me because they followed my "How to guide on making widgets" and burned their house down. Other issues that have come to mind are plagiarism, hacking, etc.
Any thoughts or previous experience would be helpful. Thanks!
My business: I develop/create websites for ONLY myself. I derive all of my income from advertising fees, I utilize Google Adsense and Amazon affiliate links mostly. I do not sell any physical products at all. Currently I have 7 sites, all about different niches. This coming year I am making some changes within my business including the formation of an LLC, hiring an accountant and hopefully finding some insurance. I will also be looking the possibility of buying existing websites from other people this coming year also.
My fear: Someone will sue me because they followed my "How to guide on making widgets" and burned their house down. Other issues that have come to mind are plagiarism, hacking, etc.
Any thoughts or previous experience would be helpful. Thanks!
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