Business Discussions

If you've ever dreamed of seeing your brand's name up in lights not just in your hometown but in cities across the globe, then you're in the right place. Expanding into international markets is a thrilling step for any new business owner, but it can also be daunting. Don't worry! I've got you covered! Let's dive into how to take your business from a local favorite to an international sensation.   Research Your Market: Understand local consumer preferences, competitors, and cultural nuances. Tailor your products to fit these insights. Choose Your Entry Strategy: Options include direct exporting, joint ventures, or franchising. Each has its benefits, so pick what best suits your business model. Adapt Your Offerings: Customize your products or services to meet local tastes and regulatory requirements. Navigate Legalities: Comply with each country's rules, from import duties to labor laws. Partner with local legal experts for smooth sailing. Build a Local Network: Establish connecti

Hey there, QuickBooks Community fam! Ready to take your small business to the next level on social media? Check out this empowering six-step guide I stumbled upon from Social Media Today. It's designed to help small businesses like yours rock their social media game, giving you the confidence and control you need!   First up, know your audience like the back of your hand. Understanding who you're talking to is key to crafting killer content. Then, it's all about choosing the right platforms. Don't spread yourself too thin—pick the platforms where your audience hangs out the most. Next, it's time to create engaging content. Think eye-catching visuals, snappy captions, and content that adds value to your followers' lives. And hey, remember to interact with your audience! By responding to comments and messages and engaging in conversations, you're fostering a sense of connection that will make your audience feel more invested in your brand. Analytics are your best friend in this gam

Hey there, ladies and gents of the Community! I'm hopping by to share a short and sweet post on how to make your brand unforgettable; and that is the five Ps.   PeopleIdentify your target market. PainUnderstand their struggle. PromiseCreate their solution. ProcessBe their guide. PricePrice based on value you bring.   There you have it. Easy-"P"eazy. What about you? What do you do to be unforgettable? Or maybe you've come up with a different way to remember something for your business. The comment section is always open.

Hello, Community! I hope the work day has treated you well, with as little stress as possible. Sometimes seemingly awkward conversations can be a cause of said stress. We like to touch on those topics here in the Business Discussion space and I've got one for you today; late invoice payment reminders. Let's see what this article from the QuickBooks Blog has to say...   As a business owner, you rely on customer payments to keep your business thriving. As well all know, life happens and sometimes those emails are missed and the payments are late. Here are some pointers on how to write a payment reminder email.   Info to include: The invoice number The date the invoice was issued The invoice due date The transaction payment terms The amount owed, including any late fees Instructions for payment Your phone number and contact information   Here's a handy template to help get you started: Subject line: [Your Business Name]:   Follow up on Invoice #XX

Happy Friday, folks! We made it! I'm stopping by before switching over to weekend mode to share an article I read from startups.co.uk that discusses how to write a clear and fair returns policy. Let's take a look...   "A returns policy is a list of rules telling customers how to return and exchange products bought from a business. It sets out what can be returned and for what reasons, and the time frames in which returns can be made after the original purchase."   A fair return policy is a key factor when it comes to building trust with your customers because it: Builds trust between the business and its customers Creates a flexible structure for returns that helps retain customers Sets realistic customer expectations Increases customer satisfaction Gives a business legitimacy Protects a business from fraudulent returns   What to include: How a customer starts the returns process – should they email you first, or fill in an online form? Where customers shoul

  Hello Community! When it comes to working with clients, you want to be selective and only work with those who value your services and have a pleasant personality. To bring on new clients, make sure they meet your criteria for an ideal client in terms of work type, payment terms, pricing, and personality. It’s important to teach clients how to ask the right questions to determine if your firm fits their needs. This will allow clients to filter themselves and ensure a better working relationship.    Today, I’m sharing some interview questions, from this article in Firm of the Future, that prospective clients should be asking. Let's take a look at these:    What services do you offer? What are your fees and how do you bill? What certifications do you have? Who will handle my work and how can I contact them? Is timely service delivered? What kind of business analytics do you provide? How do you compare to other firms in terms of services and pricing?

      Boston-based Melissa Wallace began making jewelry as a way to unwind from her job working with young children. She had no idea it could eventually become a business!    When friends caught wind of her hobby and began asking for pieces, she launched Little Pancakes and taught herself to craft with metal. Today, she sells handmade items in her Etsy shop and in stores around the United States.   We spoke with Melissa about being a self-starting maker, how she came up with her trusty pricing formula and the story behind her company's adorable name.   Name: Melissa Wallace   Business: Little Pancakes   Started: 2013     How did you get started as a jewelry maker?   I started making jewelry as a hobby while doing early-intervention work with young children. It was a stressful job and I needed something to help me relax when I came home. I began with really simple pieces and sold them to friends before

Good afternoon, everyone, especially aspiring entrepreneurs and business enthusiasts! Today, let's explore one of the most foundational elements of any successful venture: defining your company's mission and goals. Whether you're just starting out or looking to refresh your business strategy, here are some quick key points to create a mission statement:   1. Understand Your Why2. Define Your Mission3. Set SMART Goals4. Involve Your Team5. Communicate and Iterate6. Review and Adapt7. Live Your MissionCreating a compelling mission statement and clear goals isn't just about setting a direction—it's about defining your company's identity and purpose. Remember, your mission is what drives you, and your goals are the milestones that mark your progress toward making a meaningful impact. See you later, my QuickBooks Community peeps!

Hey there! Welcome back to the Business Discussion board. For today's topic of discussion, I want to share a few ways to shift your thinking. This is crucial for business owners because true success begins with believing that you can.   "I can't do this." -----> "I'm still learning. I will keep trying.""I'm afraid of making a mistake." -----> "Mistakes are how I learn and grow.""This is too hard." -----> "With more practice, this will get easier.""I give up." -----> "I will try a different way.""I don't know how." -----> "I can learn how.""I am not good at this." -----? "What can I learn to get better at this?""They are better at this than I am." -----> "What can I learn from them?"   Sometimes all it takes is a shift in your mindset to help get you back on track. What do you do to maintain a successful way of thinking?

Good afternoon everyone! You've reached the Business Discussion area of the Community. I'd like to share some info from an article I read posted on the QuickBooks Blog. This one in particular covered ways you can protect your work and receive the credit.   Some key terms to keep in mind are: Intellectual property (IP) Patent Trademark Copyright Public domain Copyright infringement Plagiarism Proper attribution Permission   How to protect your small business branding"The more unique your branding is, the stronger your trademark will be. If your logo is artistically unique, you might consider registering for both a trademark and a copyright. While trademarks prevent competitors from using the same branding for similar goods and services, copyright provides broader protection from unlawful copying. "   How to protect your small business’s products"Regardless of your industry, your business will rely on certain trade secrets—whether that be a client roster, a secret f

Hello Community Members! Today, let's dive into some exciting and diverse business topics that are shaping the entrepreneurial landscape worldwide. Whether you're a seasoned business owner or just starting, there's something here for everyone looking to stay ahead of the curve.     The Rise of Sustainability in BusinessOne of the hottest trends in the business world right now is sustainability. More and more consumers are becoming eco-conscious, and businesses are taking notice. Companies are finding innovative ways to align profit with planet-friendly practices, from reducing carbon footprints to using sustainable materials. Sustainability isn't just a buzzword anymore; it's becoming a cornerstone of successful business strategies.   Navigating the World of E-CommerceWith the digital revolution in full swing, e-commerce continues to reshape the way we buy and sell goods. Whether you're running a niche online store or a global marketplace, understanding e-commerce trends

Hello, Community! Thanks for stopping by the Business Discussion board. Today I'd like to share with you a post from the QuickBooks Blog that talks about success for small business equates to success for their communities as well. Let's take a look at some of the key points:   Small businesses improve mental health in the community"Not only does a thriving main street get people outside and connecting with one another, small businesses often provide the resources necessary to keep us healthy. Your local yoga studio, therapist, vitamin shop, book store, and gym are all small businesses that play a role in holistic well-being. Even having a space like a coffee shop to meet with friends can improve your day."   Small businesses are better for the environment"The larger the business, the bigger the carbon footprint. According to the World Green Building Council, building operations alone account for 39% of all global emissions. Small businesses often operate within smal

Hello, Community! Thanks for joining us here on the Business Discussion board. Today I'm sharing some insightful advice self-made millionaires spoke about to cnbc.com.   Anyone can do itJason McGowan was no professional baker before he co-founded Crumbl Cookies in 2017, but he didn’t let that hold him back from building a cookie empire.   Lean into what makes you unique"Everyone has a special set of circumstances, advantages and disadvantages." “I really believe in the power of uniqueness. When we... lean into our uniqueness, it really works in our favor, and it really has been a huge part of my success to do that personally and professionally.” - Anne Mahlum, founder of boutique fitness chain Solidcore.   Be passionateShawn Tsao loved sandwiches – a burning passion, some might say. One day in 2012, he was craving a sandwich from a specific shop that was across town, but he didn’t have the time to go and get it. “What if there were an Uber for food?” he thought. Tha

      How soon do you want to get paid after sending an invoice? How long do you want to give customers to pay their outstanding invoices?   Invoice payment terms are an agreement between you and your customers regarding when invoice payments are due. “Net” refers to the number of days before the expected payment. Adjust your payment terms to fit the pace of your business, industry, and your relationship with your customers. Even simple things, like net payment terms, set expectations and tone for all parties involved.   Why should I adjust my Invoice Payment Terms?   As the business owner, it’s imperative to strike a balance – you want to get paid in a timely manner, but you also want to establish reasonable payment terms for customers. Consider the long and short game. Getting paid now means dollars in your pocket. On the other hand, flexibility always pays dividends in customer loyalty.    If you have a high volume of custome

Hey there, QuickBooks Community! Have you ever considered the power of a well-planned business retreat or break for your team? QuickBooks Blog recently explored this topic, revealing how these getaways can change your company’s dynamics and productivity.     Picture this: stepping out of the office hustle into a serene environment where creativity flows freely and relationships deepen. That’s precisely what a business retreat offers. It’s not just about taking a breather (though that’s important too!), but about strategic rejuvenation. When your team disconnects from daily stressors, they reconnect on a deeper level, which boosts morale and sparks fresh ideas.   From team-building exercises to brainstorming sessions in a relaxed setting, these retreats align everyone towards common goals while fostering a sense of camaraderie. And let’s not forget the perks of choosing the right location. A tranquil backdrop can work wonders for inspiration!   So, why wait? Investin

Hello friends and welcome to the Business Discussion side of the Community. Instagram is one of the most popular social media platforms for small business. You can even set up a shop for customers to purchase directly from your Insta. Today I've put together a checklist of what needs to be included for your biz to land in the top results when potential customers go searching for your specialty.   Logo: eye catching, memorable Brand name and keywords: For example, Morgan B | Intuit Community Host Description of brand with keywords and hashtags: go more in depth with what your business does and include relative hashtags. Location Website And call to action or CTA: For instance, "Mark your calendars for our upcoming release - Saturday, June 29th at 7:00pm EST."   In addition to a searchable bio, be sure to post regularly and stay consistently active. All of this adds up to a successful (and reachable) Instagram profile for your small business. What else would you add? We'd lov

Trying to elevate your business success? Inc. shared four essential reads that will help with this. Let's dive into these four business books that offer unique perspectives and valuable lessons to entrepreneurs like yourselves.     Empire Builder: The Road to a Billion" by Adam Coffey shares actionable strategies for achieving triple-digit growth and navigating the complexities of private equity and mergers and acquisitions. Coffey draws on his experience leading private equity-backed service companies, providing a step-by-step blueprint for steady business growth.    "Nine-Figure Mindset" by Brandon Dawson, the author shares his journey from zero to a net worth exceeding $100 million. Dawson emphasizes the importance of mindset shifts in achieving positive results and attracting top talent. The book underscores the significance of adaptability in entrepreneurship and cultivating a growth-oriented mindset.   Liz Elting's "Dream Big and Win" recounts the story o

Hi friends. Welcome back to the Business Discussion board. Today I have a bit of insight to help you be more productive. Let's talk about how to deal with task paralysis.   What is task paralysis you ask? Also referred to as overwhelm freeze, task paralysis is when your mind sees your to-do list as a threat. When we encounter threats, we either fight, flight, or freeze. With a larger to-do list the threat may be recognized as potential failure or letting others down.   Here are some tips to help you unfreeze and tackle your tasks:   Acknowledge your negative emotions. Think of ways to add reward and accountability to your task. Do something to increase your dopamine like listening to music while you're working or eating a snack before you get started. Move your body for a little while before you get started to get your mind out of the frozen state. Work in a different area. Start small with something that feels the most doable. Don't wait until you have "more time" or i

Hey there, fellow Community members! Today, we're diving deep into the magical world of storytelling and its profound impact on businesses. Our Firms of the future shared some information about this! Here is what they had to say:     Picture this: behind every thriving brand, there's a gripping narrative waiting to be shared. It's not just a tale; it's the essence of what makes a business unique, relatable, and unforgettable. Stories have an uncanny ability to captivate audiences, forging emotional connections that transcend mere transactions. They humanize businesses, transforming them from faceless entities into vibrant, relatable characters in consumers' minds.    Think about it: when did you last feel a genuine connection with a brand? Chances are, it was because of a story that resonated with you deeper.   Here's the real secret: authenticity is the key. In a world saturated with marketing messages, genuine stories shine like beacons of truth. They build t

Hi there, and happy Friday! Thanks for tuning into the Business Discussion for today. I'm dropping by to share an article I read from forbes.com that covers some marketing options to help grow your business; a few you may not have considered!   Email Marketing"Email marketing helps businesses to communicate directly to consumers right in their inboxes. The method is both cost-effective and highly personalized. Businesses can segment their email list to tailor messages to specific segments of their audience. Through these targeted emails, small businesses can promote products, share news and build a community."   Social Media Marketing"Social media marketing allows businesses to showcase their personality, share stories and connect with customers in real time. The vast reach of social media platforms means even the smallest business can amplify its voice, reaching new audiences and building a community around its brand. It is an ideal cost-effective strategy for smal

Hello, QuickBooks Community members! How are you doing? Today, I wanted to share this nugget with you about encouraging your employees. In the bustling business world, success isn't solely measured by profits and market share; it's also about nurturing a thriving workforce.     Encouraging employees isn't just a feel-good tactic; it's a strategic imperative that fuels productivity fosters loyalty, and drives innovation. One of the most powerful tools in a leader's arsenal is genuine recognition. Taking the time to acknowledge and celebrate employees' achievements, no matter how small boosts morale and reinforces positive behaviors.   Furthermore, effective communication is a cornerstone in constructing a culture of encouragement. Providing constructive feedback, attentively listening to employees' concerns, and openly communicating organizational goals and expectations all contribute to establishing trust and transparency, which are vital for fostering a culture of

Hello ladies and gentlemen! Thanks for joining us here in the Business Discussion area of the Community. Today I'm dropping by to share an article from sfgate.com that talks about the importance of your target audience as well as how to find it. Let's take a look.   "A target audience is a specific group likely to be interested in your company's products or services. These individuals share certain characteristics, such as demographic and psychographic traits, that make them the most probable purchasers of your offerings."   Identifying your target audience allows you to: "Tailor your marketing messages to meet your audience's specific needs, wants, and characteristics." "Increase the cost-effectiveness of your marketing efforts by focusing resources on the most likely buyers." "Strengthen customer relationships by engaging with them on a more personal and relevant level."   How to find your target audience: Conducting Market Research Utilizing Tools and Res

  Hello QuickBooks Community! Did you know that small businesses provide essential services and contribute to the community through revenue that supports schools, libraries, and road maintenance? Small business success is tied to many things we love about our local communities!     QuickBooks surveyed small business owners about their definition of success and discovered that small business success is also community success. Here are some key takeaways that they got, according to this article in the QuickBooks Blog: Small businesses improve mental health in the community. Small businesses are better for the environment. Small businesses create jobs. Entrepreneurship creates a culture of innovation. Small businesses generate local tax revenue. Small businesses create a community identity. Small businesses foster diversity in the community.   In summary, small businesses drive the economy, and their success is critical to creating vibrant and healthy

I want to base what I charge clients on a monthly fee scale.  Does anyone else do that? Like, instead of an hourly rate, a set amount based on client's gross, or number of bank accounts/transactions. 

I recently sold my business which was financed as a Roll-over for Business Startup arrangement.  I am struggling with recording the proceeds from the sale since it should not show as "Other Income" on the P&L and be taxed with profits from operation of the business.  The proceeds will be rolled to IRA.  What is the proper way to enter the proceeds in Quickbooks?