Business Discussions

It’s nearing the end of another butt-kicking week of self-employment, and I think we all deserve to blow off some steam. Here’s your opportunity to kvell or kvetch - whatever’s on your mind (just remember that this is a public forum, folks!). Ready ... set ... gripe, grumble and groan!     Working for yourself can be lonely. When you have a problem with a customer or a vendor or you're simply overwhelmed by everything piling up on your plate, it's hard not having a co-worker to vent to. In lieu of a water cooler, here's a place for you to rant, rave vent and hopefully get some "I hear you!" comments in return.    So, how was your week?   

  Let’s learn from Felicity Price, owner of Buttercream Babies and a cupcake artist who turned her side-passion into a full-time business.   How did you start your business?   Once I'd decided to turn Buttercream Babies into a business, I created my Facebook page. At first it served as an online portfolio where I could post pictures of all my latest creations. Because cupcakes are as pretty as they are tasty, it made for a good-looking page. Once people started leaving comments, word began to spread and the page became a way for people to contact me about my products.   Another technique I used, which is a little less technical, was to get business cards made. I live near a research park with hundreds of companies on it, and every office has a party or two during the year. I put a business card through every door and offered free samples to the larger companies.   When did you know your business was going to work?   Before I started baking professionally

When Matt Martin was in college, he and his skiing pals had trouble finding retro-style one-piece ski-suits to wear on the slopes. After graduation, Matt decided to fill the gap in this niche market by creating his own brand of retro skiwear. Almost immediately, Matt hit some bumps that were far more challenging than any mogul run he’d ever been on. It was time for him to conquer some startup snags!     Flexibility is not only a crucial key to success, it’s also necessary -- especially when bringing a brand-new business to life. Things don’t always go according to plan, and when that happens entrepreneurs have to think on their feet, come up with new strategies and sometimes even take their venture in a new direction. In The Startup Snag, we’re learning from established business owners who hit a snag early on and cleverly solved the problem. We’ll also find out how they’re doing today.   Name: Matt Martin Business: Retro Mountain Skiwear Started: November 2014   T

Anna Matuszewski has been following her passion for choreography ever since she was an Olympic-bound teenage ice skater. A knee injury led her to pursue a career in dance and choreography off the ice, and she’s spent the past decade  touring the world with Macklemore. Here she shares what she loves about her work -- despite the physical toll of dancing hundreds of shows a year.    Knowing you’ll face both immense challenges and huge rewards as a business owner can help you stay positive, confident and grounded. That’s why we’re sharing some of your favorite and most dreaded aspects of working for yourself in Worst Part/Best Part!   Entrepreneur: Anna Matuszewski Business: Anna Matuszewski Choreography Started: 2000   Worst part: Anna says, “The downside of this job is that it’s so hard physically. If you get injured, it’s game over. On tour, there are a lot of personalities, so I try to bring my mothering skills and be nurturing to the younger, less experience

  Name: Caron White Business: Caron’s Beach House and Lake & Lodge Decor Location : Half Moon Bay, CALaunched: 2002-2007 (brick & mortar), 2010 (web-based only relaunch)   A love of all things coastal -- and a devastating earthquake -- inspired Caron White to launch her decor shop Caron’s Beach House in Washington state as a brick-and-mortar in 2002. Five years later she was again inspired in a new direction -- to close her store, regroup and take her business 100% online. Since she relaunched Caron’s Beach House in 2010 as an e-commerce site, she’s never been happier. She’s worked hard to make her business a well-oiled machine through outsourcing and targeted marketing, which means Caron’s enjoying the freedom to travel the world that comes with not having to run a brick-and-mortar store. We spoke with QB Community member @caronsbeach2 about how she attracts high-end customers, competes with big box stores and why there’s no going back for her after going onli

Dilemma... I have an S-corp. For the majority of 2017, I paid myself outside of payroll ($5K was paid to me thru payroll and $20K were just 'owner withdrawals' - my acc'tant said they must be recorded as "profit distributions"). So, for 2017, I've been left with the following #s:S-Corp profit: $10K(personal) W2: $5K(personal) profit distribution ("earnings"?): $20K Exactly what will I be paying income taxes on?$30K? (S-Corp flow-thru, W2, & profit distribution)or $10K (S-corp flow-thru) and I pay a different kind of tax rate on the $20K of profit distributions?

Does anyone have any suggestions on good sites that are out there where I can find out more about what I need to do before I start a business?

  Seven designer-entrepreneurs who create everything from lingerie to infant onesies to beach kaftans tell us how they got their businesses up and running!     Erica Voges of Caustic Threads, screen-printed knitwear: “I started on Etsy and I also now have a decent wholesale business and sell to boutiques across the country. I have a degree in fashion design and originally intended to sell primarily original hand-sewn designs in Caustic Threads. I had a new baby girl and found that most of those kinds of products were too time-consuming to knock out during nap time and, ultimately, were not very profitable.”   “So, I purchased a screen printing kit several years ago and taught myself how to use it. When I started screen printing I didn't really have any expectations, but I'm thrilled that my business became successful enough to do it full-time.”   Read Erica’s full story: Meet Erica Voges, the T-Shirt Designer Bringing Roller Derby Spirit to the Small Busines

  If you’ve spent time in the QuickBooks Community, you may know me as one of the proud leaders of this amazing gathering place for entrepreneurs. You may not know that a few years back, I was deep in the trenches of self-employment, just like you. In 2005, after hearing my pregnant friends complain about their impossible-to-swallow pre-natal vitamins, I co-founded NutraBella, Inc.. My business partner and I were determined to give women more palatable vitamin options, so we created the Bellybar.   I quickly realized that although I’d gone to business school and earned my MBA, I had a whole lot to learn about building, running and growing a business. My hard-earned degree had only partially prepared me for the complicated, non-stop, often overwhelming challenge of working for myself. Back then, I longed for an “instruction manual,” a curated list of things I needed to know right away to succeed as a small business owner.   Of course, there’s no single, right way to run

I am a caterer. I buy ingredients such as seasonings to prepare food that is either sold or given as samples. I've been recording the purchases of seasonings as supplies rather than COGS due to the small units of measurement, 1/4 TSP - 1 TBS per serving. Is this acceptable or should I be recording under COGS?  Also I've also been recording food purchased and prepared for samples as supplies rather than marketing. In either instance it results in an expense account used but I want to do record keeping that is industry standard accounting. I would love to hear from someone in the catering or restaurant business to please provide GAAP for recording these transactions for SEASONINGS and CUSTOMER SAMPLES.  If you have any other TIPS, I would love to hear them. Thanks/ 

  Former accountant Patricia Tsai has been on a sweet journey since leaving her corporate gig -- from selling her chocolate at the local farmer’s market to retailing her confections at Target stores. Patricia has been a successful shop owner since she opened her ChocoVivo store in 2009.      When did you know working for yourself was going to, well, work? What made you feel legit enough to say, “I own my own business!” Maybe it was your first customer (who wasn’t your mom!) or the first check made out to your business name. Perhaps you’re wondering right now if your endeavor will succeed. In this series we’re asking entrepreneurs, “How did you know when your business was Really for Real?”   Entrepreneur: Patricia Tsai Business: ChocoVivo Launched: 2009 Location: Los Angeles, CA   Knowing nothing about chocolate production didn’t stop former accountant Patricia Tsai from making it her escape route out of a life of corporate boredom. After a decade of resea

Name: Roger and Caryn Hill Business: Silver Lining Tours and Southwest Photography Tours Launched: 1998 (Roger and Caryn became owners in 2013) and 2008 Location: Bennett, CO Roger Hill’s fascination with severe weather was sparked when he was a kid growing up along the Kansas/Missouri border. Watching huge storms and tornadoes race along the Missouri River, Roger wasn’t scared – he was intrigued. His interest never waned and, when Roger wasn’t working as an accountant in the Air Force or as a contract manager for an engineering firm, he’d hit the road to go chase storms. In 2000, Roger was hired as a guide for Silver Lining Tours, one of only two storm chasing companies in existence at the time. He loved the work and decided he wanted to do it full-time. When he gave notice at the engineering firm, his boss said, “If you can make a living doing something you enjoy, by all means, do it!” Thirteen years and countless tornadoes later, Roger and his wife, Caryn, bought the company from t

There are many accounting software packages available, both desktop and online. Software products like Quickbooks, NetSuite, Xero, Sage, Wave, Quicken come to mind right away. There are many different accounting tools available because of a wide range of accounting and bookkeeping needs companies and businesses have. As for financial formats, there are not so many to transfer data from one place to another (for example, from your bank to your accounting software). This is a good thing. You should not a have an issue every time you get a file with transactions from your bank or your client and the accounting software cannot import it. Financial File FormatsThe following formats are the most used/common ones: OFX - also known as "Web Connect" format to get transactions from a financial institution, widely supported by almost all accounting software. The OFX format allows extended variants of itself. Extended OFX variants should 

I own a retail/service business in Mexico and I'm facing the challenge of high cost to import goods across the border. Of course we are trying to find cheaper/alternative options to get items in without going thru US, but regardless I have to pass those costs on to the consumer.  The general argument I get is, I can drive up to the US and bring across myself. They drive up, risk not getting caught, and bring items across illegally to avoid paying duty.So my question to you as business people, how do you overcome that objective of price to the consumers?  My biggest argument is that I am legally importing items and in order to comply I have to pay the fees to get the products you want. Most of my customers are retired so there time they spend driving is not significant to them.  Any insight would be appreciated.  

    When you’re starting out in business, you need honest, objective feedback about your ideas, plans, products and services. Actually, you need meaningful guidance and helpful, constructive criticism at every stage of your business journey. That’s why so many entrepreneurs say they benefit tremendously from finding, working with and – most importantly – listening to a trusted mentor.   Of course, the most crucial step in building a successful mentor/mentee relationship is connecting with someone who’s a good fit for you, your business and your business goals. After all, there’s no single definition of what it takes to be an awesome mentor. (That being said, QB Community mentor extraordinaire Julie Gordon White lays out five important guidelines to keep in mind when you’re searching for a great business coach.)   Let’s learn from six folks in our QB Community who have figured out what works for them when it comes to finding and working with a mentor.   “The

  Let’s ask Nicole Hodsdon, a Michigan-based woodworker who’s been bending plywood into stylish furniture and home goods since she launched her business Ciseal (“sis-EEL,” or layer in Irish) in 2013. How did you start your business?   After getting a degree in Mechanical Engineering, I majored in product design at The College for Creative Studies. My first job out of college was freelancing in product design, mostly focusing on things like packaging, interior displays and craft design. At first, I found clients on a word-of-mouth basis, but I started to get tired of working on other people’s ideas instead of my own. I decided I wanted to work on something more personal. In college I'd taken a course on bending plywood and I loved it, so I decided that was as good a starting place as any.   My brother-in-law was looking for a tablet stand and couldn’t find anything he liked, so I said I’d give it a go.   When did you know your business was going to work?   I

 Name: Natalie Cofield, CEO Organization: Walker’s Legacy Location: Washington, DC Launched: 2010 Natalie Cofield has always been out in front of the pack. After attending college at 16-years-old, she launched a career as a management consulting services analyst with JPMorganChase. It wasn’t long before she was bitten by the entrepreneurial bug and set out to start her own consulting firm. She sought a mentor as she ventured on her own but couldn’t find one. As a result, she founded Walker’s Legacy, a digital platform for young, multicultural women to find mentors and access the resources needed to help them succeed in business. Hi Natalie! Tell us about Walker’s Legacy and what do you do there. Walker’s Legacy is a digital platform for the professional and entrepreneurial multicultural woman. We exist to inspire, equip and engage through thought-provoking content, educational programming and a global community. At our non-profit arm, Walker’s Legacy Foundation, we provide

  Let’s learn from Scott Santoro, a graphic designer operating his Worksight Design Studio business in New York for more than 30 years. He says that choosing to brand himself as a business right from the get-go (instead of calling himself a “freelancer”) was instrumental in growing a successful venture.   How did you start your business?   I formally studied graphic design at the Pratt Institute. After school, I worked for about five years and then went back to school to get my graduate degree at Cranbrook Academy of Art. The chair of my department asked what I planned to do after graduation and I said, ”I think I’ll freelance.” Luckily, she suggested that I not use the word “freelance,” but instead set up my own small company so that I could literally jump into starting my own design business.   By creating a brand around my own company, rather than just "freelancing," I was able to have more control over the kind of design work I wanted to do. I hired a bookkeepe

It’s nearing the end of another butt-kicking week of self-employment, and I think we could all afford to blow off some steam. Here’s your opportunity to kvell or kvetch - whatever’s on your mind (just remember that this is a public forum, folks!). Welcome to our very first…   Ok, here’s me: I’ve been working on a volunteer project with a Wordpress developer who, after hemming and hawing about our timeline for deliverables, finally told me yesterday that he doesn’t have enough availability to do the work. Hey, that’s cool - but would have been nice to know six weeks ago, dude!   Your turn :smileyhappy:   @Peter_G_Stone, I think you've already told me yours!      

Grace Kraaijvanger started the Hivery, a women’s coworking space in Mill Valley, CA, when she couldn’t find a shared workspace she felt comfortable in. Five years and 400+ members later, the Hivery has won countless accolades and awards – and has earned the support of business and branding powerhouse Marie Forleo. Here, Grace shares five tips for starting (and staying) strong in business.    When you’re starting out in business, there’s just so much to learn -- including all the things you don’t yet know you don’t know! We believe a great way to save time, reduce stress, make smart decisions and avoid costly mistakes is by learning from others who have been there, done that. So here are some valuable insights from an entrepreneur in our QB Community who has already experienced the good, the bad and the ugly of starting a small business -- and who is happy to share what she’s learned.   Today we hear from Grace Kraaijvanger (@The_Hivery), founder of the Hivery, a hu

When you're growing a business, the answer is almost always "yes." Seize any opportunity to attract new customers, clients, or potential partners - and keep your current ones happy and referral-ready. Offer your products or services for free if possible, either as a marketing strategy or as a favor to a well-connect friend. The customer is always right...right?   We've spoken before about having to fire a client. Has there been another time when you've had to say "no" in business? What prompted you to make that decision, and do you still feel that you made the right one?   

Taughnee Golubović had spent years running and growing her online marketing and branding company in the U.S. when, for personal reasons, she decided to move to Croatia. During the transition, she lost a bunch of clients. Taughnee had to come up with a new marketing strategy fast.       Flexibility is not only a crucial key to success, it’s also necessary -- especially when bringing a brand-new business to life. Things don’t always go according to plan, and when that happens entrepreneurs have to think on their feet, come up with new strategies and sometimes even take their venture in a new direction. In this new series, The Startup Snag, we’re learning from established business owners who hit a snag early on and cleverly solved the problem.    Entrepreneur: Taughnee Golubović Business: Endeavor Creative  Started: 2002 Location: Čazma, Croatia    The Startup Snag: Taughnee says, “When I moved to Croatia, that caused a lot

  Let’s learn from Rachel Bowes, whose Seattle-based Finch & Thistle Event Design business has been growing steadily ever since she was laid off from her salaried position in 2008.   How did you start your business?   I hired someone to design a website and do some basic branding. Then I started networking and putting the word out that I was looking for events. People started getting referred to me. I’d worked for the Seattle Symphony before, and they hired me on a contract basis to do all the event flowers. I built up my portfolio doing weddings for friends of friends. I look back on those days, and I can’t believe how little I charged! But I had to start somewhere.   When did you know your business was going to work?   I received a lot of publicity in various magazines and on blogs about three years in. Having my business out there in the media gave me a lot more credibility with potential clients. People were coming to me saying, “I saw your weddin

  Consider this your business startup resources library! Here you’ll find links to everything you need to know about starting, funding, marketing and running your own business. Whether you’re still working your day job while dreaming of a new solo endeavor, looking for small business ideas, about to go freelance, or you’re ready to put your business plan into action, the QuickBooks Community is here to help you every step of the way.   If you don’t see what you’re looking for here, tell us in the comments and chances are our super helpful and knowledgeable Community members will point you in the right direction.   Oh, and congrats on doing your self-employment research! You can feel good knowing that you’re already succeeding in your venture by self-education and engaging with others who’ve been there!   HOW TO BE SELF-EMPLOYED 101   These articles will take you through the general thoughts, planning and actions of becoming a new business owner, working fo

    A schoolteacher turned actor, musician, two-time national poetry slam champion, entrepreneur, and award-winning poetic voice, any given day may find Sekou Andrews keynoting at a leadership conference, helping a Fortune 500 company with brand messaging, or even performing pieces for Barack Obama in Oprah’s backyard. Sekou is the creator of Poetic Voice, a new, cutting-edge speaking category that seamlessly fuses inspirational speaking with spoken word poetry to make messages more moving and memorable. Here's Sekou inspiring the attendees at 2014 QB Connect to take their business to the Next Level!