10 little tips and ideas for the small business guy/gal - Page 2

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10 little tips and ideas for the small business guy/gal (Page 2 of 2)

spartacus2002

Knight of Western Civilization

Joined Dec 2002
Posts 50321
EE 100% (13)

FL, USA

Posted: 7/7/2019 3:09:40 PM EDT

[#1]

Quote History

Originally Posted By BozemanMT:
Cash is king, take care of your cash. You can profitable and run out of cash.

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Quote History

Originally Posted By BozemanMT:
Cash is king, take care of your cash. You can profitable and run out of cash.

This! Cash flow is what determines whether your business fails or succeeds.

Charge enough. Too many business's don't charge enough for their time and effort and slowly go out of business. Also many people invest capital in equipment, but don't charge enough to buy new equipment when that equipment wears out.

Ever time I see a small businessman who is overworked, I tell him to raise his fees/hourly rate.

djkest

Member

Joined Jan 2008
Posts 11967
EE 100% (10)

CO, USA

Posted: 7/16/2019 3:17:13 PM EDT

[#2]

Let's see how I'm doing. In the process of starting up a business.

Originally Posted By tax_monster:
Just a few thoughts to share for those of you who own a small business or are thinking of starting one, based on my [redacted] years of experience as a tax accountant:

1. Buy some decent business cards.

2. Get your own internet domain name.
3. Don't ask me for a deposit for a $400 job.
4. Don't use your home phone number for a regular business number.
5. Get a business number - either land line or cell phone.
5. Don't tell me you don't have a fax machine.
6. Depending on your business, write up a price list.
7. Don't be afraid to make a collections call.
8. Don't worry about telling a customer to take a hike.
9. If you have employees, don't get behind on payroll taxes.
10. Don't use your personal bank account for business. .

View Quote

1) Hmm... didn't think about it, but probably should... once I get #2 complete
2) This is absolutely going to happen and will be vital to my business- after the corporation is formed
3) N/A
4) I will probably use Google voice for this
5) Hmm, will I need one? I'd rather not bother. It feels like everything is e-mail now.
6) N/A
7) N/A
8) N/A - at least for now- may happen later
9) Noted
10) This will absolutely happen as soon as my corporation formation is complete

Greenspan Joined Apr 2007 Posts 7472 EE 100% (70) AZ, USA	Posted: 4/8/2021 11:06:15 PM EDT [Last Edit: Greenspan] [#3] 1. Know when to raise your prices. If you run a particular gun Smith service for example and your return time is 8 months it means you need to raise your prices or train an apprentice to work under you. 2. Bank somewhere you are a big deal but will have room to grow

tooter Joined Aug 2021 Posts 66 EE 100% (2) CA, USA	Posted: 5/3/2022 9:45:48 PM EDT [#4] Do what's morally right. That's how my small independent business has flourished for over 40 years.

MRW Fugitive from the Thought Police Joined Mar 2001 Posts 28030 EE 100% (71) FL, USA	Posted: 8/25/2022 2:29:11 PM EDT [#5] I'm very late to this thread. I just started a small LLC 1. is GoDaddy still the best for a domain name? 2. Vista Print for business cards? 3. What's a decent and simple way to take payments online. I'd like to avoid paypal if possible.
	Don't be so open-minded that your brains fall out. General education should not be mere job training, but training in how to be fully human. https://www.memoriapress.com/articles/the-four-causes-of-classical-education/

sharky30 Giggity Giggity Giggity Joined Jun 2001 Posts 32338 EE 100% (1) NY, USA	Posted: 8/25/2022 4:28:10 PM EDT [#6] I have no experience registering/buying/owning etc a domain name. I've heard grumbling about godaddy on /sysadmin though https://www.reddit.com/r/sysadmin/search/?q=godaddy&restrict_sr=1&sr_nsfw=&sort=new
	Vote for freedom, not political parties

Foxtrott_4 Joined Jun 2015 Posts 33 EE 0% (0) DEU	Posted: 1/12/2024 10:03:35 AM EDT [#7] Lovely write up, I have it bookmarked and definetly still valid points 16 years later apart from the Fax. I know a lot of larger companies still have it but the internet really has taken over in that regard

KiloBravo From the free state of Louisiana Joined Jul 2007 Posts 2725 EE 0% (0) TX, USA	Posted: 1/14/2024 6:43:18 PM EDT [Last Edit: KiloBravo] [#8] My wife is a CPA and the IRS still requires a fax.

ZW17 Super Member Joined Mar 2003 Posts 46157 EE 100% (32) OH, USA	Posted: 1/14/2024 6:52:09 PM EDT [#9] Quote History Originally Posted By KiloBravo: My wife is a CPA and the IRS still requires a fax. View Quote Been in business 10yrs and never had a fax machine. The IRS communicates with us through their web portal or snail mail. Never once been asked to receive a fax from them.
	Why do you own a fire extinguisher when you have the fire department to protect you? Politicians should wear uniforms like NASCAR drivers so we could see their corporate sponsors.

FE2O3_2Al Joined Oct 2020 Posts 388 EE 0% (0) OH, USA	Posted: 1/14/2024 7:04:10 PM EDT [#10] Fax machine? Are you kidding? We haven’t sent or received a fax in years. Should we stock up on carbon paper too?

10 little tips and ideas for the small business guy/gal (Page 2 of 2)

General » Business & Investing

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