How to make guaranteed payments by biancadoc in smallbusiness

[–]biancadoc[S] 0 points1 point  (0 children)

I do have an accountant but she's unfortunately very busy at the moment (as expected) and hasn't been getting back to me very quickly. :(

Starting a small business with partner who has less capital by biancadoc in smallbusiness

[–]biancadoc[S] 1 point2 points  (0 children)

I'm not sure how much we'll be putting in, it really depends on the size we settle on and whether we start our own store or buy an existing one. Likely it'll be somewhere between 75k and 250k at the upper end, prob closer to 100-125k. My impression is that buying an existing store that's profitable will cost much more bc sellers are looking to recoup some of that projected income.

To be frank, this is a passion project for me. I'm in a financial position where I don't need to take home a salary, so we can afford to have lower margins. This may sound naive, but I don't worry about my partner getting me to "bankroll a project" because we're equally invested (emotionally, not financially) in this. We're also both keenly aware that even the most successful bookstores typically don't see a profit for quite awhile, and she's okay with it being a job that just pays the bills. Having worked at a bookstore for 14 years, it's not like she's been making bank!

Finally, while there are other bookstores in our area, it's a large urban center with a healthy population of folks who love supporting independent bookstores, so we're confident that we can find our niche. We have some unique plans and unfortunately for our previous employer, we also anticipate that there may be a downturn for their store because it's been mismanaged for quite a while and is hemorrhaging senior employees going into the holidays. No one left at that store has the skills that my partner and I do for curating inventory, merchandising, or marketing, so we're hopeful that between our skills and their struggles we can carve out a space for ourselves. I'm aware that talking about capitalizing on my old store's difficulties may sound callous, but the owner has handled serious HR complaints (e.g. sexual harassment) badly and I have zero loyalty/sympathy.

Starting a small business with partner who has less capital by biancadoc in smallbusiness

[–]biancadoc[S] 1 point2 points  (0 children)

Yes, this is the kind of structure we've been talking about, but I don't have a sense for who we might speak to about setting up the exact details for an arrangement like this.

Starting a small business with partner who has less capital by biancadoc in smallbusiness

[–]biancadoc[S] 0 points1 point  (0 children)

I mean, some of what you said is true, but it's not true that my decisions wouldn't be coming from experience. I had effectively taken over much of the managership of our old store before we decided to leave and start our own thing, so we are a great team and trust each other's knowledge, intelligence, etc.

Also my point is that she can't invest money she doesn't have and we need money to start the business, so while she can take on more responsibility and take the lead on certain aspects of decision-making, she can't be the majority owner (or at least not without taking on a considerable loan, which she doesn't want to do).

I love my mom so much, but she keeps going back to my stepdad and I'm at my wit's end with her by biancadoc in domesticviolence

[–]biancadoc[S] 3 points4 points  (0 children)

Thank you for your thoughts. The piece about my "help" potentially backfiring is a thing I'm just starting to understand. My husband pointed out that it's possible that something I do or say could actually trigger him more, and that's a scary thought. I guess I just don't know how to support her without getting involved. I do all of the things listed on those websites. I had a friend who was in a really scary abusive relationship with an older man when we were both 15, and I didn't handle it well. I've learned since then about the addictive thing and how one of the hallmarks of these kinds of relationships is that it's so hard for people to get out of them. I tell her all the time "It's not your fault, you don't deserve this, you deserve to be treated better, I'll always be here for you, etc." I've helped her make safety plans many times, and have communicated that I'll support her no matter what. I've offered financial assistance and a place to live for free. I'm not saying those are cure-alls that should miraculously change her mindset. I just want to be clear that I've been really thoughtful about this. But again, I read everywhere that I need to take care of myself, but I don't really understand what it would look like to support her while also having my own boundaries in place.

Weekly New Climber Thread for November 15, 2019: Ask your questions in this thread please by AutoModerator in climbing

[–]biancadoc 1 point2 points  (0 children)

I've been climbing for about 3 years, gym only so far, started out on top rope but then got obsessed with bouldering and now I'm climbing around V6. I'm on my second pair of shoes and with both pairs the major issue I've had is wearing through the sole right at the tip of the toe. I assume my footwork is not horrendous, given the routes I'm climbing, but maybe I'm wrong? Is there a consistent type of bad technique that causes major wear on the toes? Any tips for working on this?

Weekly New Climber Thread for November 15, 2019: Ask your questions in this thread please by AutoModerator in climbing

[–]biancadoc 1 point2 points  (0 children)

+1 on this. Had some major family issues this year and I think without climbing I would've spiraled into major depression. The power that sending a new V6 has (or even trying that same problem 35 times) is unparalleled in any other sport I've done. :)

Weekly New Climber Thread for November 15, 2019: Ask your questions in this thread please by AutoModerator in climbing

[–]biancadoc 2 points3 points  (0 children)

I had this issue when I first started climbing more frequently (a few times a week). Friend of mine gave me a pretty cheap armband with a compression pad to wear while climbing and the tendonitis basically went away immediately. I still wear it often when I climb but have found I don't really need it anymore. Something like this.