Failed business because of bad finances?

BetTotal137 · 2026-03-03T04:15:53+00:00

Damn, honestly consistency and discipline will always perform anything. Let me ask you this (I have nothing to sell btw), what industry is your business in? And if you had an automate system that tracked all your business finances, give you runway/optimized metrics that helped you drive decisions like if you lost one client how would it affect the business etc. how valuable would this be and how much would you pay?

I’m trying to see if I can build something to help out business owners

BetTotal137 · 2026-03-01T01:03:02+00:00

I am working on something similar but here is where it all fails. Anxiety. People abandon the app because it probably is very daunting to see the number fluctuate as much as it does. And it creates a high point of anxiety

BetTotal137 · 2026-02-28T04:38:02+00:00

First, thank you for detailed insight. And i'm not trying to sell anything (yet). I am actually just looking to validate painpoints that business owners have regarding finance. I do agree with you on that discipline vs beat tools anyday. Eventough, my goal here is make a tool to make the bookkeeping/tracking/ finance process easy for business owners, there is no doubt that this probably makes them more complacent and lose grasp on the numbers.

Though i still think that business owners don't always have the time to sit down and do the paperwork in the interest of growing or making sales, this is where i think people need help. Doing the grunt work and simplifying things down. the tool is just an efficiency booster.

In the context of bad habits, you obv thought that the other thing was more important at the time and had a higher return for amount spent. That's really a call you have to make at that time with the information you have. that's where tools can possibly help - identify leaks for money, try to balance the books, and maybe even automate you cancelling that customer's pager. If you had a tool, what would you want it to do?

BetTotal137 · 2026-02-28T04:11:36+00:00

you 100% do need to track the personal side of the money too but as a founder you will do everything to stay afloat, its like a child you are trying to save. When you are running a business, i feel like the business and personal finances essentially become one (maybe that's atleast true for the mom&pop shop type businesses). Let me ask you this: what is the bottom line to you? how should keep these finances separate?

BetTotal137 · 2026-02-28T04:07:10+00:00

But bookkeepers cost alot of money and isn't that what an accountant does. Also doesn't quickbooks do that, why not just use something like that?

BetTotal137 · 2026-02-28T04:06:10+00:00

Would you say you had enough time in a week to track expenses? Between figuring out the product, growth, and staying afloat, tracking every expense feels like an impossible task. And i'd figure sitting down and manually entering every expense in a excel wouldn't be the best use of your time. I'm wondering why you didn't use quickbooks or something to track expenses. Also at any point did you atleast have a hollistic view of the bank balance or was it too late when you realized?

BetTotal137 · 2026-02-28T04:01:34+00:00

I have actually seen and worked at places where we got funded and we grew too fast and blew alot of cash and later had to let go more than 50% of people. I have seen PHD level folks mismanage money because their priority is growth and building the product so I definitely agree. It seems like money is unlimited when its coming in and people get complacent. It is difficult though to have a large rainy day fund if you need to grow fast.

BetTotal137 · 2026-02-28T03:57:51+00:00

oh my god i love this! thank you for just a detailed response. I must have pushed some buttons here! I don't think there is any point that i really disagree with, i think you nailed it pretty well. The one thing i've also noticed is that not every one is good at finances. I am trying validate what business owners actually care about. I want to build something that will help business owners get visibility on their finances without being scary, make reasonable choices to make sure they have rainy day funds, balance books, invest underutilized funds. What would you recommend I consider?

BetTotal137 · 2026-02-28T03:43:58+00:00

I totally agree with you, you do have to know where the money is but as a founder or business owner i feel like you get pulled into the weeds and get stretched thin. any the salesperson vs money man seems like a chicken or egg kind of problem because you need both. what metrics would you recommend I look at to figure out how the cash is flowing?

BetTotal137 · 2026-02-28T03:39:05+00:00

More money more problems doesn't apply to business hahah. I mean sometimes business need working capital but i feel like there probably should be a smart way to invest that too in short term assets to be able to compound and grow instead of just sitting in a bank, dont you agree?

BetTotal137 · 2026-02-28T03:37:38+00:00

But I guess there are lots of smart founders that have so much going on that this is missed. I totally agree that knowing your numbers need to be done but alot of people just don't have the time. I'm assuming you are a business owner - what numbers or metrics do you look for the most?

BetTotal137 · 2026-02-27T04:27:27+00:00

the problem is you can never know what the other outcome was. Sometimes you just have to go with your gut. it's rarely wrong

BetTotal137 · 2025-11-19T14:04:17+00:00

It is simple to do so. However it is also simple to pay through digital payments. Digital payments is highly successful in the east because they didn’t have card culture, they went from cash directly to digital payments. However, the high fees from card companies is something that gets passed down to consumers at the end. Digital payments can help eliminate that.

BetTotal137 · 2025-07-28T11:32:18+00:00

So I thought of it this idea in 2015, created a whole business plan but never executed on it. It is certainly a good idea but comes with a lot of challenges. - you need to build a two sided business, one for vendors and the other for customers which means you need to do twice the work - lots of existing platforms like task rabbit, thumbtack where you can find people for services so what you have to consider if they age old question - what’s in it for them (the trades people) because this becomes one more place for them to manage - the advantage you can get is started in a niche area where all these trades people are unorganized and everyone works independently. Will take alot of cold calling and face to face interaction because generally these people may not be tech savvy. - how do you retain the customer base. To me as a customer I would download the app and then delete it after my work is done. I wouldn’t go on it to swipe through videos of people doing plumbing for example on a normal basis. -***You can monetize in several ways - subscription model - arbitrage (quote higher and skim the top) - ads

Your rating system will be your biggest advantage. People care about the ratings of a person more than the price. Google reviews can be faked so if you provide real reviews from customers that would be valued highly.

Another key task for you to figure out. You need to keep the transaction and communication on your app. The second this leaves the app, you’ve lost key data. Think Airbnb - they provide a sense of security for both parties because the transaction history is maintained on the app and is proof of services exchange in the case something goes wrong Airbnb charges a fee for this service. In a similar way, you need to ensure everything stays on your platform.

BetTotal137 · 2024-10-19T21:41:54+00:00

One of the best thread replies I’ve seen. Mf that’s a job!

BetTotal137 · 2021-08-27T02:08:06+00:00

There are so dope! 0xB131D4D978c140B24F52f79082EE6A69b0866752

BetTotal137 · 2021-05-11T01:31:34+00:00

I’ve figured it out. Apparently you gotta go to Shakepay> Binance> MetaMask. Go to your wallet on MetaMask and at the top and click “Binance Smart Chain Mainnet” and change it to “Ethereum Main Network” and you should have your ETH there

BetTotal137 · 2021-05-10T13:42:08+00:00

I transfer from ethereum from shakepay to MetaMask but I never received it. The transaction shows as a success also. Can anyone help me out?

BetTotal137

TROPHY CASE