Business Discussions

  Jess Murray was sick of tailoring overpriced denim jeans in a warehouse, so she quit her job to start her own line of handcrafted leather goods. Now Jess creates gorgeous bags, belts and even some denim apparel -- that’s affordable, of course!       Sometimes great businesses start with a revelation: “Why work for someone else when I can do this exact same job on my own terms!” The bold entrepreneurs we’ll meet in our Going Indie series quit their salaried positions and started their own independent ventures -- in the very field they decided to leave.   Name: Jess Murray Business: Aegis Handcraft Founded: 2013 Location: San Francisco, CA   The revelation: Jess recalls, “The original idea developed from a not-so-great work experience. I had just graduated with a degree in fashion design from the Fashion Institute of Design & Merchandising in San Francisco. I got a couple gigs working in the industry, but something just kept eating away at me. I was

I am fairly a new business owner and still get confused at times on the accounting side.  I have just started paying quarterly income taxes.  I also pay sales taxes on merchandise.  When I pay quarterly income taxes, doesn't this include the sales taxes I pay on merchandise?  I am confused am I overpaying.  Any advise is greatly appreciated.  I hope I am making sense.

    Social media is a great way to grow your business' online footprint and requires minimal input. The simple addition of social links can greatly increase awareness of your brand online and offline, which in turn can lead to boosted sales.   In QuickBooks Online, rather than embedding social media buttons in the body of sales forms, you can add clickable hyperlinks to the email message portion of invoices, estimates, and sales receipts.    Why should I add social media links to my Invoices and Sales Form emails?   Adding clickable “like us on Facebook” or “follow our Instagram” hyperlinks to invoice email messages is a simple way to stay connected with your customers, enabling you to broaden your brand’s reach without additional (or costly) marketing efforts. This approach separates branding and business so the prior doesn’t get lost amongst line items and figures (or vice versa). In short, keep the actual invoice form focuse

  When you’re new to QuickBooks Online, you have an opportunity to learn and incorporate new workflows into your daily routine - seize it.   Today, we’re bringing you tips and tricks to help you process transactions faster and more efficiently. While some of these shortcuts are merely for added convenience, others can drastically reduce the time it takes you to complete tasks in QuickBooks Online.  How to Use Shortcuts: QuickMath, Keyboard Shortcuts, & More | QuickBooks Online Tutorial 2018   There’s nothing wrong with mouse navigation, but QuickBooks veterans swear by hotkeys and prefer them over any other method.   To bring up the comprehensive list of shortcuts (and to get your company ID), press [CTRL] + [Alt/Option] + [? ]on your keyboard. The subsequent operations all begin with [CTRL] + [Alt/Option] + [the associated operation].     The hotkeys on the left let you create new transactions or sales forms from any dashboard or t

           Do more with QuickBooks by knowing exactly what each feature is and does. The QuickBooks Online Encyclopedia is designed for everyone -- those who are brand new to QuickBooks as well as those needing a quick reference.   In this entry, we cover the essential features and workflows of QuickBooks Online. We also highlight functions that are unique to QuickBooks Online (designated by the [] symbol) so you can get the most out of your accounting tools.   To navigate this resource, click one of the alphabetical jump links below or hit Ctrl+F /Control+F in your browser to search for a specific term. For accounting definitions, check out "QuickBooks Encyclopedia – Basic Accounting Definitions."    A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z   B   Connect an Online Bank Account   Simple Defin

  Every feature in QuickBooks Online depends on other features. Even common tasks like invoicing rely on other pieces fitting in the right place.    We’re here to help you make sure each piece fits and everything is set up correctly so you can send your first invoice with confidence. Use the checklists found throughout this article to double-check your progress. After completing each task, check it off and move on.   The Essentials                              The Nice-to-Haves    Company Information     Customized Invoices    Sales Info    Product and Service Categories      Invoice Form    Online Banking    Products and Service List                Customer Information   &

 The dust has settled and you’ve successfully set up your QuickBooks Online in just 15 minutes. Now, let's start building a robust company file and ensure all the parts are aligned. By the end of the hour, you’ll have everything in place and ready to handle the fundamental account tasks for your business. Your first 15 minutes with QuickBooks OnlineYour first day with QuickBooks Online While we recommend certain time-frames, please go at a comfortable pace - - what's important is following the series in order. If you prefer an activity-based setup workflow, check out our series “Setting up for Success with QuickBooks Online." Minute 15: Customize your Invoices (and Sales Forms)  (Gear Icon [] > Custom Form Styles > New) You can start sending invoices using the default template, but you should spend time designing and personalizing them. Even small changes can have a big impact. Sending your first invoice is a milestone for your business, so inve

Name: Caroline McAbee Business: Faith Financial Consulting Located: Austin, TX Launched: 2016 Caroline McAbee was used to incredibly long days and a tedious a commute as director of operations in both the high-tech and non-profit industries. Eventually, she burned out. Caroline decided to quit her job and take the summer off. During that “wonderful” period, several different friends asked if Caroline would help them launch their new businesses, from opening a car dealership to starting a construction company. Requests for financial- and business consulting multiplied, and Caroline had a “light-bulb” moment. After discussing her idea with her husband, Caroline took a leap of faith and launched Faith Financial Consulting. Her self-employed journey, she says, has been wonderful. We find out Caroline’s #1 tip for small business owners and learn why she believes all entrepreneurs must “keep it real.” Note: This interview is based on a conversation between Caroline and Community Leader Lesl

  You’ve decided to become an entrepreneur. Congrats! Now get ready to learn learn a whole new business lingo. As you’ll soon discover, there are countless important -- and, sometimes, confusing -- terms that pop up in the startup and financing phase of your new venture. This post will help you translate and understand some of the most common concepts.   Burn rate: A slang term for the amount of venture capital a company’s founders can spend (i.e., burn through) during the startup phase before they will run out of money. A high burn rate tells the investor that they may have to wait a longer time to see a Return on Investment (ROI). Example: If a company has $1 million in investment and spends $100,000 a month on overhead during the startup phase, then the burn rate is ten -- meaning the company has ten months until they’re out of money and need to start generating a positive cash flow.   Due diligence: A vetting and research process done by potential investors or fun

All successful businesses meet a market need by solving a problem ("Gee, it's really hard to clip this new phone to my old bike handlebars!"). When necessity begets invention, a new business may be born as well. Is your business based on a new invention? If so, how did you approach patenting or trademarking your new discovery? Did anything surprise you about the process? Any advice for would-be inventors?   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!

First, we want to say a hearty congratulations to QB Community member Katharine Huber. Katharine, a professional architect, is the founder of Wit Design, which sells kid-sized furniture that’s functional, comfortable and totally gorgeous. No wonder Katharine’s Wit Chair was just awarded a Special Mention in the 6th annual Architizer A+ Awards celebrating the year’s best architecture and products.   Now Wit Design is officially an award-winning brand. Which got us thinking:   Do you have an award-winning product or service? If so, how did you find the contest or program you entered – and what was the submission process like? Most importantly, how have the words “award-winning” affected your business?   We’re excited for you to join this conversation by posting your comments below!   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!

QB Community is celebrating its one-year anniversary this week (yay us!), and we're marking the occasion by asking: How old is your business, and what date or time of year do you consider to be your small-business "birthday"? Why did you choose that moment to begin counting your days of operation?   (Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!)   Let's start with a shoutout to @258370, @lweins, @202689, and the many other QB Community members who are celebrating a FIRST business birthday this year (read more about a few of them below). You made it!!   Erin Williamson - Engender International   Ika Aliyeva -  Femigrants Foundation   Karen “Ms. Karen” Dycaico - Dance Magic Studio   Sarah Alexander - East Pine Woodworking   Lee Weinstein - Intentional Life Planning    Katharine Huber - Wit Design    Alexia Burke - Izza Pops

I once spent months lining up a major sponsor for what would turn out to be the largest event I'd ever planned for my business. During the band's last set I hopped up to the mic to thank everyone for coming. After so long working behind the scenes, I was nervous to be in the spotlight - and guess who I forgot to thank during my big speech? My biggest sponsor, that's who. (Sorry, North Shore Realty Group!!)   Have you ever blown a public speaking opportunity? What happened, and do you chalk it up lack of preparation, over-preparation, or just plain nerves?   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!

Ellie had to fire one of her very first hires. Afterward, he posted negative and untrue things about her business on social media. This is how she dealt with it and went on to run her successful London barbershop.     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.         Entrepreneur: Ellie Pamphilon Business: Barber Streisand Started: 2015 Location: London The startup snag: Ellie says, “I took an eight-week refresher course on barbering just before it was finally time to open, both to sharpen my skills and to scout

  There are two times a year that I absolutely bleed money: during the winter holiday season and the summer. Toward the end of the year, my money goes toward gifts, decor and entertaining. In the summer, I spend on home improvement projects, yard upkeep and travel. Speaking of summer travel, taking a vacation for us self-employed folks often means leave without pay, which only adds to a general lack of funds.   Did you know? According to a 2016 American Express Spending & Saving survey of 2,000 adults, the average person spends $941 per individual on vacations.   While I’m dreadful at saving for retirement (or anything else) in the summer months, others like fishing captain Megan Corazza are opposite. She says, “Fishing is definitely a seasonal business and one that depends both on market conditions and the return of salmon to the ocean. Some years are lucrative, and some are very poor. On the big years, when you receive all your profits in a lump sum from the cann

At what point do I switch from putting money received for freelance work in my personal account, to tracking it separately as a business? I'm asking mainly for the sake of understanding taxes. Do I roll these into my personal taxes, or do I file separately? I suppose that makes it two questions. Since March, I've earned a bit over $5,000 as a freelance editor. Most of it from a company that uses me as a freelance fill-in (and will be sending a 1099) and the other for a fiction author who uses me as a proofreader/editor (I don't know if she'll be sending out a 1099). I have a business license with the state of Washington.

Name: Taughnee Golubović @taughneeBusiness: Endeavor Creative Location: Čazma, Croatia Launched: 2002 Taughnee Golubović ("Tawny Go-LEW-bo-vich") spent much of the ‘90s doing “techie stuff"  as a technology manager in a marketing and research firm - until the dot-com bust in 2000 pushed her (hard) down the self-employment path. At first she focused on finding clients fast just to pay the bills, but things worked out so well that she soon became entirely independent, designing websites. Today, with so many great DIY website design options available, Taughnee has wisely reinvented herself as an online marketing and branding maven, helping small business stand out in the vast World Wide Web. Like many web-based business owners, Taughnee loved the freedom to travel and work wherever she chose, so when she met the love of her life -- who happened to live in Croatia -- she took her biz overseas in 2015. We spoke with her about the reality versus the dream of working anywhere in

  Cash is one thing entrepreneurs can never have too much of. As you work to build or grow your business, taking on some side work can help keep you flush. Giving rides with Lyft, renting out your extra room with AirBnB or running errands with TaskRabbit are just a few of the many low-barrier ways folks are generating extra cash in today’s gig economy.   So, we’re curious to know:   Have you participated in the gig economy? Was it your sole means of income or a side job to generate cash while you worked out your business plans?   We hope you’ll tell us about your experiences! Was it worth your time and effort? Did you enjoy working in a “peer-to-peer” environment? Was your overall experience good, bad or something else entirely? We can’t wait to find out ...  

Hello fellow Community members! Right now I am sitting on a Jet Blue flight headed to New York for the Accounting and Finance Show being held at the Javits Center, and wanted to see if anyone else will be going and would like to meet up? This event marks my first opportunity to promote my QuickBooks Desktop application Vendorsync so I am really excited.  I want to give a big shout out to Analytix for allowing me to utilize their booth to  talk with my fellow accountants. I would love to do a live streaming interview with anyone from the community so come find me in booth 158 ( Analytix Solutions) Hope everyone has a successful week!

  Sometimes great businesses start with a revelation: “Why work for someone else when I can do this exact same job - but on my own terms!” The bold entrepreneurs we’ll meet in Going Indie have all done just that -- quit their salaried positions to declare independence, starting up their own ventures in the same field.   Name: Johnny Zone Business: Howlin’ Ray’s Hot Chicken Founded: 2015 Location: Los Angeles, CA   The Revelation: Johnny recalls, “I made a name for myself cooking on TV, so when it came to setting up a business, we were lucky enough to have some big investment offers. One guy offered us $1 million to start out, but we turned him down. My wife Amanda and I decided to open the food truck with only our personal savings — we’d spent enough time working for others and making them richer, so decided to do this all on our own. There were risks, but we had no doubts. It was just a matter of building the right structures.”   The New Venture: Fortunate enough

  When helping others is the inspiration for starting a business, the motivation to succeed is huge. Not only are these entrepreneurs in business for themselves, they're also In It for Good. In this series we'll meet social entrepreneurs, non-profit leaders and global thinkers who are working to make the world a better place.  Names: Emily Núñez Cavness and Betsy Núñez Business: Sword & Plough, a for-profit social enterprise Launched: January 2012 Location: Denver, CO What they do: Sword & Plough is a veteran-owned, social impact fashion brand that works with American manufacturers that are veteran-owned or employ veterans. They incorporate repurposed military surplus into bag and jewelry designs, and they donate 10% of profits to veteran organizations. The impact they’re making: Since 2012, Sword & Plough has helped support more than 65 veteran jobs. They are also reducing waste and minimizing their carbon footprint by reusing tens of thousands of po

    What is the best part of working for yourself? And what’s the hardest part? Identifying the challenges and the wins of owning your own business keeps it real and allows you to find a reasonable balance of ups and downs. Entrepreneurs in the QB Community UK share their favorite and least favorite aspects of going solo. Name: Michael Gratz QB Community member name: @mgratz Business: Prairie Fire BBQ    Location: London, UK Launched: 2013   Originally from Kansas City, USA, Michael Gratz found himself disenchanted with his job as a banker. When he and his wife moved to London in 2012, Michael found the city lacking in American-style barbecue. Add that to Michael’s love of cooking, and a delicious idea was born. Today he and business partner, Eric Rosenberg, operate pop-up restaurants, trade at street food markets and create a retail line of sauces and rubs - all in the traditional Kansas City-style.   Worst Part: “It’s very challenging shouldering all

Name: Meaghan Brophy QB Community name: @meaghanbrophy Business: Editorial director of Independent Retailer magazine Located: Bethel, CT with nationwide readership Year founded: 1988 As we join the celebration of July’s National Independent Retailers Month, we couldn’t pass up the opportunity to speak with Meaghan Brophy, the editor of Independent Retailer (IR) magazine. Meaghan keeps indie retailers in the know about current market and demographic trends. She understands what matters to them because she’s often out and about on Main Street, U.S.A. talking to small store owners about their struggles and their wins. Today, Meaghan was the interviewee, not the interviewer, and we chatted about the current outlook for indie retailers (spoiler alert: it’s pretty good!) and why it’s important to support your local businesses. Hi Meaghan! What is the Independent Retailer and what do you do there? Hi! We’re a monthly magazine and a resource for independent retailers of all kinds. We c

Monday, July 16, is Amazon Prime Day - an annual 24-hour sales event for customers of the world's largest online retailer. Yet many small business owners are rising to the challenge posed by Amazon's brave new free-shipping world by finding new and creative ways to appeal to their customers. What's your secret sauce for wooing shoppers who may choose Amazon for some purchases but keep coming back to your for that special thing you make or sell? How do you ensure that your customer experience stands out from the rest?   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!

Nearly 90% of consumers prefer brands they view as authentic, and just over half say they are more likely to recommend those companies to friends, according to new research. But what exactly does it mean for a business to be authentic? How do you "keep it real" with customers, clients, and potential investors?   Want to weigh in but not yet a QB Community member? Click HERE to sign up in a flash!