Business Discussions

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!

  Name:  Andrew Evans Business: Andrew Evans Magic and The Magic Patio Launched: 2014 Location: San Francisco, CA Andrew Evans officially became an entrepreneur when he was 12 years old. That’s when he performed a magic show at his sister’s best friend’s birthday party. Afterward, the friend’s dad slipped Andrew $20. “I thought, whoa,” recalls Andrew, who went on to perform throughout middle school and high school at parties, picnics and festivals. “Getting paid to do what I love was a really big moment.” In college, Andrew turned an empty bedroom in his apartment into a 25-person theater and wowed audiences with both original and re-interpreted magic tricks. Later, as a grad student and then a design lead at IDEO, Andrew’s passion for magic and illusions never waned. Four years ago, he used his engineering and design skills to create, design and build The Magic Patio, an underground “magic speakeasy” located on the patio of his apartment. Although Andrew has never spent a p

We all love stories about scrappy entrepreneurs who got their start by happy accident - a chance meeting, a burst of inspiration, a technological advance in, ahem, a 1970s garage. But then what? How did these successful innovators set smart goals to take their idea to the next level? Is there a sweet spot somewhere between strategy and seat-of-the-pants? We'd love to hear from you....   Do you have (or think you need) a business plan? If you've created one, are you sticking to it?

When Cheri Drake was launching her home-staging company, she figured it made sense to hire a network of freelancers for everything from her logo to her website to social marketing. Cheri learned the hard way that sometimes, one-stop shopping creates more problems than it solves.     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: Cheri Drake Business: Sisters Staging Started: 2016 Location: Atlanta, GA   The Startup Snag: Cheri says, “Oh, I’ve done a few bone-headed things! First, I bought a cute logo from

  Name: Grace Kraaijvanger (@The_Hivery) Business: The Hivery Launched: 2014 Location: Mill Valley, CA Grace Kraaijvanger spent years juggling her passion – performing and choreographing ballet and modern dance – with her work as an independent marketing consultant. After having two kids and “accidentally retiring” as a professional dancer, Grace planned to build up her marketing business. Problem was, she says, “I’d already been part of a passionate, creative arts community. Now I was working at home and feeling very lonely. I missed being part of a supportive, like-minded community.” Grace decided to join a coworking space. Her options, however, were “very male, very tech” – a far cry from the “female fuel” she was craving. So Grace did what entrepreneurs do: After identifying a gap in the shared-workspace market, she turned a problem in a business. The Hivery opened its doors nearly five years ago with 25 members. Today, more than 400 women create, explore and collaborate in t

  We posed this question to our Facebook community and a clear theme emerged -- business owners are an exhausted, dedicated and busy group of individuals!     QB Community Members, how would you finish the sentence: "You know you're a small business owner when _____________."?   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!

  When small businesses get their products and services in front of the huge numbers of social media users, there’s a good chance their sales will soar. In fact, 94% of small businesses use social media to market and promote their brand. For good reason, too: Younger users (16-34) report researching products on social media before buying and 23% say that seeing a “like” is a purchase driver.   Check out these articles and presentations packed with tips, tricks and strategies to help you build a powerful, compelling social media presence.   QB COMMUNITY ARTICLES   1. 9 Tips for Upping Your Social Media Marketing Game The crew at Bad Rhino, a media marketing agency that works with small businesses like yours, shares some of their hottest tips for reaching your target market (and beyond!).   2. How 7 Entrepreneurs Use Instagram to Market Their Businesses Seven entrepreneurs from the QuickBooks Community share their strategies making Instagram (and more

Passion is prosperity. Work that passion so that you can become prosperous! -- QB Community member QcFinancial   Do you work *your* passion? How do you define prosperity? Share your thoughts -- we want to know!

@machineshopgirl,   That's great to hear, so the original owner hasn't changed? Or was only her husband the original owner? And it sounds like the son is out of the equation, so we are really talking about how to handle the transfer of Sole Prop to an LLC between husband and wife.    I am not an accountant, but my feeling is the stipulation of marriage may complicate the discussion more in regards to "ownership" in the legal sense.  I am not sure if those classifications are treated differently when the transfer is between husband and wife. You might want to reach out for legal advice on this.    I'm really glad you are able to stay on and help, I know that with the loss, she will appreciate consistency in her life. Plus, that trust you've already established is invaluable.  

  Name: Veronica Champion Business: Balloons by Design Launched: 1987 Location: San Rafael, CA When you spend a few minutes chatting with professional balloon artist Veronica Champion, you quickly realize she’s got a history of a) soul-searching and b) taking action. Example? After working as a school teacher, Veronica realized she really wanted to teach ice skating to kids (she competed on the ice throughout her childhood). Veronica moved to Marin County, CA, knocked on the door of a nearby ice-skating rink and kicked off a decade-long career. Eventually, Veronica sat herself down for another soul-searching session. She remembered the joy she felt, years earlier, when a friend gave her a giant helium balloon attached to a bottle of champagne. “I was so taken with it,” recalls Veronica. “I wanted to make people as happy as I felt when I got that balloon.” So, in typical fashion, Veronica drove to a local balloon company and asked for a job. An employee had just quit, and Veronic

  If you’re a solopreneur or running a small (or very small!) business, you know having a branding/marketing budget is sometimes out of financial reach. That doesn’t mean you can't build a memorable brand identity and broadcast it to all your target customers. We turned to branding strategist Taughnee Golubović at Endeavor Creative* for tips on how to know thyself, get your business seen and attract your dream clients. Thanks, @taughnee!   1. Think of your brand as an emotion, not a generic job description. When first considering your brand, it’s easy to rely on generic descriptions. Don’t do it! Your logo/brand “proposition” should tap into your customers’ emotions and challenges. If you create content, you don’t just write articles, you help readers solve problems through informative writing. Accountant? You don’t just do taxes, you work to understand and better the financial aspect of real lives. Florist? You don’t just sell flowers, you deliver living messages of joy and

Does anyone have great knowledge about 1031 exchanges with a 121 exclusion?