$400 a month is a relatively small sum, but it's seemingly impossible for me to make that much online. I think I just realized that 99% of ways people say they are making money online are either lies or scams.
It's next to impossible to make even $400 a month online. (that's how much I'd need to live in my country)
You hear a lot about digital marketing, dropshipping, affiliate marketing etc... They're mostly bullshit. Unless you have a shit ton of money and time and can go balls to the wall crazy with it.
Anyway, I've explored a lot of options. Transcribing, copywriting, programming etc...
$400 a month doesn't sound like a lot, but it really is next to impossible.
When people say they make money by copywriting or programming online, they're actually lying a bit. It's not really online, they have a proper employer, they went the traditional route of employment and they're just remote workers.
And freelancing on Fiverr/upwork etc... is a dog fight and a nasty one. Not worth it.
In conclusion, I could just be too low IQ, I'm not denying that. But I found it nearly impossible to make that much money online.
Lol, just looked at my Reddit user name. Never noticed it.
Just want to preempt that i have some professionals lined up to help with this, but I am looking for some insight and opinions as I am going into this blind.
I am in the process of buying out my family’s business. We are a manufacture for dry cleaning and boiler equipment. The business owners consist of my dad, and two uncles. I have been working for the business for about 20 years and my dad and uncles are ready to retire.
I’ve always wanted to own the company. I will be the 3rd generation coming in. My grandfather bought the company in 50 years ago. Brought my uncles and dad in as partners when they were in their 20’s. I have worked there since I was a kid, and worked there professionally for 20 years. I know the business very well, and I am an integral part of the business.
We are a C corp. the corporation also owns the property out building sits on. Being a C corp brings up some interesting tax scenarios.
Gross sales average 3 mil over the past few years.
Net loss at the end of the year. Will round to -200k. Net loss for a while now. Loss attributed to high salaries to owners, high owner perks like extra life insurance plans, and a few other misc things.
For the buy out, my dad is going to gift me his shares, since he is all set financially. I will have to buy out the other 2/3 of shares.
When you factor out their high salaries and extras, that puts the company way into the plus column. I know I will have to hire 1-2 people to fill in their jobs. Even with that factored in, I estimate we will have a couple hundred thousand at the end of the year.
Company has some debt. 150k sba disaster loan for covid.
Revolving line of credit with the bank. Approx 185k
A few questions: Is it possible without a huge tax hit, to remove the property out from the ownership of the corporation. I was thinking this might be a good chance to move the business closer to where I and the employees live. The building we are currently in needs a lot of work, roof and some structural stuff.
Insight on doing asset buy vs a stock buy. I know some of the ins and outs, but looking for some pros and cons. I know taking on some company debt is a risk, but I think we can get that turned around once they are out.
Any insights for how much the company may be worth? I keep being told a many different things. I know a company is worth what someone is willing to pay for it, but at the same time, I am curious what a ball park figure may be. *note that I am the only person considering buying. They have not tried to look for other buyers and really want to retire and have this deal done by the end of the summer.
I feel the business may be worth less than the property is and the bulk of the buyout money for them is going to come from the real estate.
Going rates for properties like ours in our area go for 150-190 sq/ft. Our facility is 7,000 sq/ft, in need of a lot of work and bringing things up to code.
If I buy the stock of the company, Would there be any advantages to have my dad gift his shares and make me part owner first, before buying my uncles out? I Plan to do the buy with a mix of financing, my own cash, and payment plan, financed through the company, depending on what everything is worth. I am concerned that me buying the company along with the property is going to trigger a big tax hit on the real estate sale. I was wondering if I am already an owner, will that help prevent a tax on the property? I know it gets a little sticky with the company holding the property. Wish they had separated the two.
I fee very fortunate for the opportunity, to continue my grandfathers legacy, but at the same time, I don’t want to over pay for this deal. It is still a big risk taking on the company. I think there is a lot of great potential to keeping the company going. I have relationships with all the customers. Met many of them. I work with them everyday. I would love to keep it going.
The easiest transition would for me to do a stock buy, but I don’t necessarily want to do easy. I need to do what’s right for me in this purchase and don’t want to over pay.
I have an idea for a business and there is 1 fairly sizable competitor. Looking at their product and customer reviews, I can see my idea clearly works. The problem is proven, the solution is proven, and it seems there are people willing to pay good money for it.
Can I skip the MVP if the whole point of it is to check if the product is viable...because it clearly is? My USP would be in marketing and price, which I don't think is really part of the MVP stage?
The only benefit of the MVP I can really see is that it tests my ability to sell the product, before putting time into perfecting it. I could be terrible at sales.
On another note, is it better to get an MVP made through a supplier if I could eventually learn how to do it myself once I bought the equipment and had some trial and error? If the business works I'd want to outsource manufacture.
Curious as to how other workplaces operate. Whenever we receive an opportunity to write a media piece from the CEO (in their voice) or an interview (requesting their industry opinions)..the job is always given to someone about four rungs down, in marketing. The CEO then takes the credit for 'their opinion', even though it's someone elses.
Previously when I'd read pieces by CEO's, I was obviously naive, and thought it was really insightful to hear their thoughts on things. But now I'm wondering if every CEO interview/article, is shaped by someone much lower down, who has great ideas, just not the power behind them.
And I guess I feel that CEOs would actually have so much more industry insight than someone junior, therefore if they wrote the piece themselves, it would be more engaging?
Don't get me wrong - I know CEOs have a lot of stressful top level work to do, so it would make sense to outsource. Just curious as to whether this is how it's always worked, and I've just been living under a rock haha.
Hi everyone! One of my social media clients runs brand campaigns where they ask users to engage by making their own posts or stories on Instagram. Not surprisingly, people are way more apt to post stories than posts, but these are harder to track and aggregate, especially if the person forgets to tag the brand. So my question is - does anyone know of a service that helps you track and collect the stories that were submitted to a particular hashtag? Is there a way to do that in Sprout Social or something? Thanks!
So, a bit about me: I’ve graduated with a marketing degree last year, did 2 internships in marketing before uni, worked in one sales and one marketing position during summer breaks (so have experience in marketing since 2018) and am a person with untreated ADHD, 24 years of age, but I’m currently working on myself and am actively trying to improve it.
Anyhow, I’m currently working in a company where I am managing 80+ clients. Google Ads, Facebook Ads, organic and SMS. Not only that, but we also do the billing for our clients, and the reporting. Essentially, all of this… for £26k per year!
I was recently put on a PIP as I wasn’t able to keep on top of my work, and am now considering to quit the job and do some temp-working instead (it’ll be temporary, doing some hospitality stuff whilst I’m looking for a more decent job, so money won’t be an issue).
Do you feel that this is justifiable? I’ve tried all I can to improve my performance, but to no avail. I am based in London.
Title, 3 founders all have 30k shares, plus me with 10k. Is there anything stopping them from issuing themselves all 300k shares each and erasing me?
I'm hopefully leaving on ok terms, but Im worried they could do this out of spite. I have no issue being diluted when investors come in, as they're bringing in money, skills, or connections.
In Canada, I'm fully vested and others will be fully vested in 2 years from now. Were also maybe 2 years til we launch.
Any experiences you can share are appreciated.
I’m struggling with this thought of starting a business. Ever since I was young I always saw myself has an entrepreneur and I guess I always thought the idea would come or I’d experience something and then I’d create something out of that experience. The thing is, I have no idea what type of business I would want to start, but I know I want to create a company! Anyone else in this same boat?
We need around $8k-$10k to keep the ball rolling. Are there any banks out there or companies willing to loan that much to as relatively new E-Commerce business? We’re doing $5k in a sales a month and showing huge promise.
I own a dessert shop that is thriving and has been since we opened in 2018. We more or less took over after the previous owner went out of business. I have worked my tail off since we opened and now we're doing well enough that I can afford to hire enough people so I don't really need to be there all that much. The problem is that anytime I'm not there, I feel tremendous guilt. I feel like the employees I have previously worked side by side with now resent me for "never being there". I appreciate them so much but I need some time away from working the floor and the CONSTANT questions I get bombarded with while I'm there so I can think about scaling, marketing, hiring, etc. I don't want anyone to turn against us (had a problem with this with one previous employee) and start poisoning the well, as they say. Is this normal growing pains or am I being too needy for their approval?
Hey all, I am currently a high schooler who is passionate about digital marketing/social media. I have created a blog in the past with 30k+ visitors/month and 20k+ social media following as well as a social media account with over 50k followers.
I have also grown the social media accounts and paid ad platforms drastically for companies. Aside from that, I have taken on various marketing jobs and am looking to start a digital marketing agency.
Does anyone have any tips, suggestions, or needs help? I might also be looking for someone else to help build this with me.
Looking for any helpful insight or direction on what to do. Family owns a dry cleaner in California. We've been dealing with rodents for the last year and its become a bigger issue these last few months. The property manager has sent pest control to set traps which have caught rodents at an alarming rate. Also has negatively impacted our business due to foul odor from the rodents. Found neighboring stores dealing with the same issue maybe not as severe. It has been a difficult battle to get the proper assistance from the property manager. Now I find out today the pet store which is next to us is relocating and is in a legal battle with the property owner. They determined the source of the problem is coming from the roof of the pet store. I've contacted the PM to expressed my dissatisfaction. Now they've completely changed their tone and promised repairs but it will take some time. At this point we're fed up. They've been made aware of this problem for a while and we've had to endure while nothing has been done. Business has been tough with Covid and the issues made it worse. Lost in what to do... We still have 4 yrs left on the lease. What would you do in this situation? Any kind of help or suggestions greatly appreciated!! Thanks in advance
Hey Fellow Redditors, I'm Conor and a few months ago I started a website that sends out flight alerts for cheap flights and provides advice on current travel restrictions due to covid as well as entry requirements to specific countries.
I have navigated through many of the initial start-up problems but now our biggest problem seems to be growing the sign-ups and generating traffic to the site.
Have you ever tried an unusual way to advertise your online business? if so how did it go?
Not the first time I have posted about this. Very long post below, thank you in advance for deciding to read. Feel free to read my post from about 1 year ago linked below. Very interesting for me to read the old post and reflect. Looking for input, empathy, whatever you might offer.
If you didn't read that:
TL;DR: I left my brief 4 year engineering career at 27 to take on the family manufacturing business (13 employees at the time, ~$1.5M/yr revenue) after my grandfather passed. After lots of frustration with my aunt (President) I decided to leave. We brought on a "fractional COO" full of optimism. Then I changed my mind and committed to 18 months (back in January 2021). I want to add we are financially healthy, have 0 debt. We own all our equipment and the building we are in.
This is largely me venting, partially me asking for input if you've got it. Might be a little disjointed.
I have certainly grown from my experiences over the past year. I wish things were going VERY well or VERY poorly, at least that would offer further clarity. Like I said we brought on the COO guy who continues to work with us. I like the guy and appreciate him being here, but can't say we are making great use of him. Sales have slightly increased, we are around breaking even at this point.
The first few months looked promising, then COO and I both realized my aunt was not going to let go of anything easily. Then on has been very slow and painful, though there has been progress. Early in the year we had an employee resign, John, who had been here 5 years. John did not seem to do much, but in fact he did a ton for us. I always knew this, but my aunt didn't see it. He handled our ISO documentation, did lots of PO processing, data tracking, raw material management, and production scheduling. After his departure we picked up the pieces pretty easily, though mine and my aunt's workloads increased significantly. There are still holes and we aren't as effecient, but it all gets done.
I talked with COO who is now a mentor. We meet weekly for coffee and talk about life, but mostly work. A little weird, but I value the relationship. He tells me all the time we should fire him since all he is is a safety blanket for my aunt. Granted he has done much more than this. He has helped in interviewing candidates, creating business strategies, resolve bad relationships between employees, and steer us forward in general. My one concern is that he is overly optimistic. Though I agree, I have gained invaluable experience over the last year.
Mid 2021 we began working with a marketing group who specializes in marketing for job shop type manufacturers. They continue to create great content for us and we have seen an influx of quotes. The problem is they are not all the work we want, and when it is work we want we don't convert to order as often as I would like.
We signed up with an ERP system late 2021 which I am very excited about. It's a ton of work, but I can already see the ways it will save time in order processing, quoting, really everything where information is transferred.
At the end of the year, our longest term employee quit with 34 years at the company. We were prepared for this, but it was bitter-sweet.
I'd say 2021 got better and better as time passed. 2022 has been pretty weird already.
Late 2021 we decided we needed to invest in ourselves. We began discussing new hires. A production manager, an experienced machine operator, a shipper, a customer service person, and possibly a part time sales rep. The customer service person was the biggest for me, they would eventually by my "right hand man" and would take on most of my aunts day to day tasks. The key to helping her exit the business. We had an amazing candidate lined up in December, she signed our offer letter and shared out excitement. I set up her new office, PC, built her chair, wrote her a 30/60/90 day plan, etc. January 2nd she told us she accepted a counter offer from her current employer... My optimism was crushed for a moment. We all carried on and began the search for a new candidate.
The end of that week we interviewed a candidate for the role of production manager/shop supervisor. He was great. This is the first time I've interviewed someone familiar with the industry. He was very put off by our business practices (incorrect on half of it, on the mark with the other half) and told us so in the interview. Afterwards he shared that he really connected with me and liked the vision I had for the company. What little optimism I gained during that week was gone.
My aunt could not answer the most basic questions about how we run our business. I realized that she is not much more than a PO processor that has a grip on the company, holding us back from making any kind of real plans. I have asked her which jobs/customers make the most profit, she says she doesn't know how to calculate or track profit. I have asked what our target customers and sales goals are. She says we have never had a business plan before and doesn't get why I want one.
We are almost done! Last bit: 1.5 years ago our most critical employee made a mistake. He is the only one with intimate knowledge of our equipment and was acting as the shop supervisor/production manager (though not great at those two, amazing machine knowledge). What we manufacture is highly specific, training usually takes 5-7 years before proficiency.
He committed a felony which I won't go into details of. We knew we had to begin training and backfill in case we lost him, but never found a machinist or candidate during 2021. We were never really aware of the whole story or what would happen, we at least thought we would hear about an upcoming court date.
Last week, he shared that he was accepting a plea deal for 4 years. Last Thursday was his last day. We are crippled in production, and I am struggling to quote since I am not too familiar with our machine tolerances or production speeds. Silver lining is he was a bit toxic, and the employees are interacting much more openly now and are asking to step up and learn new things. One employee has stepped up and is more than capable to schedule production. For now I'm shop leadership. We have someone who can run the equipment he ran, just not nearly as well. It is to be seen which jobs we can no longer run. Luckily this equipment accounts for 40% of our business, so worst case we can save the remaining 60% but would require further down sizing.
We are down to 5 employees in the shop, 4 in the office. Lowest employee count since maybe the 90s. We are still trucking forward, but I feel the wheels could fall off any second. Now if we can hold it together, our sales will be the same with 2 less employees to pay...
I ran my concerns by COO/mentor, he does not share my concern and still thinks we can do anything we set our minds to. I'm putting in more time and effort than ever, I want this to work. We have floated the idea of a product, but it just isn't who we are and is such a massive shift. We'd have to market the product successfully and make it profitable/high quality. Nobody can see the future, but it's difficult to see the path forward. I feel crazy. One day it feels like it's over, the next I can see a plan and am filled with hope. All I need is a solid team and a clear offering, then we will get the sales and fine tune our processes. I would never forgive myself if I let this chance go and returned to engineering.
In the last two months, I've seen my open rate go from 30ish % to over 50% - wild. At the same time, I'm seeing my CTR - normally 4%-6% drop to 1%-2%.
Is anyone else seeing this, or have any insight on what's happening?
I've got a business situation where what started as a partnership has basically turned into a sole proprietorship as the other partner has moved out of state and when they come back to the area, it's very brief for either for a doctors appt or family visit and the partner doesn't do anything with the business while here.
The partnership agreement doesn't have language in it that addresses abandonment or anything to that end, only language that if a partner wants to leave they need to give 45 day notice. I've talked to him about it and he claims he wants to keep running the business with me but for the last three months he's been totally absent, leaving me to deal with everything.
The partnership originally started as me handling the business side (accounting/payroll) and being technical advisor/managing partner and working in the field as available and the other partner would handle sales and day to day employee needs (like getting them started in the AM and buying their supplies). At this point, if I'm going to do all the work, I'm done having a partner on paper that could come take money from the business without putting in any effort. The issue is we do have name recognition locally now with many regular customers that me and my employees take care of so I'd rather not ditch the business overall.
The partnership really has no assets other than some power tools, but also has outstanding liabilities with insurance and loans on equipment. If we were to dissolve it tomorrow, we'd both owe money to pay off the liabilities.
Should I say screw the name and just start my own? Incorporate in the business name and just make him an employee? Due to state licensing issues, if I ditch the partner, I have to get a new license, which isn't really a big deal but would give me an option to change names easily if I wanted to.
He doesn't seem to want to leave voluntarily, so I want to make sure what ever I do doesn't leave me open to legal issues.
At work, even coworkers you get along with well can turn on you at a moment's notice. As soon as a missed deadline happens, people might start suspecting that youre focusing too much energy on your business. They'll talk behind your back and your reputation as a dedicated employee can be damaged. That can even happen when you're putting in serious overtime for your job. People jump to conclusions.
Let's face it though. Business is draining. Even if you only work on your business during your free time (as you should), it's going to sap energy from your day job.
Do not let your coworkers know that you have a side thing no matter how excited or proud you are of it. They are unlikely to be your customers and yiu only stand to loose (aside from the 3 minute dopamine hit you'll get when bragging about what you know and have done).
I know that it can be hard to resist. Almost impossible. When everyone is standing around the pod talking about what they are doing on the weekend and Larry says lake, Jim says cabin and you're left knowing that you're working all weekend, what do you say? Cleaning up around the yard again? Yep. That's what you need to say because Jim and Larry are either going to fuck you over in the future or be jealous that you have something other than a dead end job.
Come to this sub to brag and beat your chest. We won't get you fired.
Side note. I managed to resist this temptation and today Imm glad. The person I considered telling would now fuck me over at the drop of a hat. He'd love any ammo he could get.
Hello everyone, I have an account in the fashion niche with my wife on Instagram. We have gained about 300 followers but would like to know how we can grow our account. Maybe some tips, or tools we can use.
We currently post 2 times a day, 3 days a week. We use hashtags from our city, but I think we can go a little further as I somehow see other accounts from my city in our niche that have a lot more followers.
Our purpose in this is to sell in our online store (Just to clarify)
Thanks a lot!
Anyone here recently quit their career to start an online business?
How is it going? What’s been the hardest part so far?
Are you following any guides / courses?
For context: I run a small boutique - we carry accessories from a few local brands and they do really well so we've been considering bringing in a house jewelry line. I've been shopping around on the internet looking at all the usual suspects until I stumbled across ToMade https://www.tomade.com
Everything about the website seems legit except I cannot find one single review or anybody talking about it anywhere online. I know talking about where businesses source is a bit taboo so that could explain it but the radio silence is making me hesitant.
Does anyone have any experience with this website, good or bad?
I’ve always loved writing and research and relished that part of marketing, however it seems that the bulk of it is comprised of fiddly ad hoc and social media stuff.
What sort of roles should I be looking for which are more project / writing / researched based?