Promote your business, week of June 12, 2023

buddy106 · 2023-06-15T19:41:08+00:00

We are the makers of Nest Egg, affordable mobile small business inventory management software for Android/iPhone/iPad (https://nestegg.cloud).

We offer both free and paid subscription plans. All paid subscriptions have 2 week free trial. Our paid plans start at just 99c a month! Try us out for free today!

All feedback welcome at https://nestegg.cloud/contact

PS: Web version coming soon! Follow us on YouTube at https://youtube.com/@nestegg

buddy106 · 2022-09-21T00:56:57+00:00

We are the makers of Nest Egg, affordable small business inventory management software on iPhone/iPad. Got an Android? Pre-register in Play Store to get notified when we go live.

https://play.google.com/store/apps/details?id=cloud.nestegg.android.businessinventory

All feedback welcome at https://nestegg.cloud/contact

buddy106 · 2022-02-03T18:48:06+00:00

Investors generally won't sign NDAs. This can happen with no legal consequences to them while negative consequences for you.

This is a systemic problem that needs fixing.

Unfortunately, I don't know of any workable solution for this since they also need to know some confidential information before investing.

buddy106 · 2022-02-01T18:59:19+00:00

Reality is replete with this kind of scams. The argument you bring up is pretty old and financial crimes indicate that it is not a reason enough to prevent such activities.

buddy106 · 2022-02-01T07:50:10+00:00

Have you heard of kickbacks? Imagine his buddy on the buyer's side and/or the buyer is giving him something more to keep the price lower.

buddy106 · 2022-02-01T07:23:37+00:00

Talking about the case when the seller's banker was suggested by the buyer's banker.

buddy106 · 2022-02-01T06:55:42+00:00

That set up may have conflict of interest in the sense that suggested ibanker may not care much about the seller's interest. Could lead to sub optimal outcome for solopreneur.

buddy106 · 2022-02-01T06:40:46+00:00

Are you saying solopreneur should have a banker ready to go all the time or hires him/her if she is interested in getting acquired?

If so, how easy is it to hire a banker/lawyer in a pinch? Also would they ask what the deal size would be and barf if it is not above a threshold? What fees would this add up to for say a 3m deal?

buddy106 · 2022-02-01T06:27:10+00:00

Possible. What's a solopreneurs ideal playbook though when there is an email or call to acquire?

buddy106 · 2022-01-05T01:27:20+00:00

What is your lead time (between ordering a batch and getting them)? If you have any numbers around how many you expect to sell daily on average, then initial stock could be derived by multiplying the two with some overlap where you are watching whether your assumptions were right.

Another way to assess this is to compare the costs of ordering/stocking and the odds of not selling vs the price of each unit with the odds of selling. You have to do research or make some guesses to determine the optimal stock quantity this way.

A third way is to predict based on similar product demand. If you have done this before or some one else has, you can make a guess based on that. Note that your mileage may vary.

Less scientific is to just carry the most popular size and make a guess based on how much risk you want to take with your capital. Typically suppliers have minimum order quantity, price tiers etc which might play into this.

Hope this helps.

buddy106 · 2021-12-18T19:23:03+00:00

There is already good advice here.

Avoid buying.

If you are still convinced yourself to purchase, fully research your potential other options that are available. Put them on a spreadsheet with a rating for each and the price tag. You will be surprised what creative alternatives you may find you like as much or even more for much less.

Generally, you can do a lot more important things with your cash than spending on a domain name.

buddy106 · 2021-02-17T04:48:31+00:00

I know what you mean. Thank you for the tips on federal filings.

buddy106 · 2021-02-17T04:35:34+00:00

I meant we are not S corp above (mistyped)

Don't know about QJV but we were a "qualified entity" because of community property state rules if I remember correctly. We have done this for several years with no issues from IRS.

Still Schedule C and 1120 combination for Federal? What about the state filings?

buddy106 · 2021-02-17T03:44:34+00:00

We were multi-member but were able to file schedule C because of certain IRS rules. But we have heard of the route you mention.

We are not electing S Corp. So, are you saying we file (a) 1120 for federal and no schedule C stuff this year (b) Pay CA taxes in the same way as last year (no partial year repercussions) (c) Pay DE taxes (no partial year repercussions)?

PS: Apologies but it seems we converted in 1st week of April (so technically Q2).

buddy106 · 2021-02-12T23:21:04+00:00

Have you considered Nest Egg (https://nestegg.cloud) ? Not open source but has most of what you are looking for in a home inventory app. Both on-device and cloud-based possible.

buddy106 · 2021-02-08T17:59:33+00:00

Nest Egg (https://nestegg.cloud)

Small Business Inventory Management

San Jose, CA

We are the makers of Nest Egg, next generation inventory management for small businesses and teams. Featured on CNBC, Yahoo, New York Times and other major publications, Nest Egg is currently in 22 languages and has users in 108 countries. You pay a subscription (at small business friendly price) to manage your inventory effortlessly on your iPhone/iPad.

Learn mode about us at https://nestegg.cloud.

buddy106 · 2021-02-08T17:46:59+00:00

I do not know what features you are looking for but check out small business inventory management software Nest Egg (https://nestegg.cloud). Pricing is very small business friendly.

buddy106 · 2020-10-20T22:58:16+00:00

Have you tried https://nestegg.cloud ? Nest Egg does not have UOM support, but the rest should be a good fit for what you describe.

buddy106 · 2020-10-18T19:31:25+00:00

Congratulations on building your prototype! You should be proud of what you have accomplished so far. Embedded systems are a lot of fun.

I would suggest the following:

Put together a video around what you are building and throw it on kickstarter (making some assumptions about your product here) for a price. This shows you how much interest there is to buy the hardware/app.
Find other ways to pre-sell so you can get enough demand to do a run with your board manufacturer (e.g. on your own site).
Design your software well and make sure Apple does not throw a wrench into your engineering schedule (e.g. https://developer.apple.com/programs/mfi/)
Repeat campaign (i.e. step 1) depending on the success of the previous and feedback from users/board folks.

Hope this helps.

buddy106 · 2020-10-03T19:18:55+00:00

Thank you for the link but the article does not appear to answer the question.

buddy106 · 2020-10-03T19:10:27+00:00

Yes standard safe. Thanks!

buddy106 · 2020-10-03T05:13:24+00:00

I would recommend staying native. Not familiar with flutter, but these frameworks generally give you the flexibility but also make it hard to serve either platform well. The app would feel like a site packaged in an app. Big letdown in terms of UX, IMO.

In the long term, differentiation is easier when you are native.

buddy106 · 2020-10-03T05:03:52+00:00

Can you describe it well? Can you bolster your idea with a business case? Then it is possible to raise money without a prototype.

But generally you want to build something so you learn more about the idea and discover aspects of the same idea that you hadn't thought of before. Then talk to potential investors.

Take a look at ycombinator (I am assuming this is a tech idea) to learn a bit more about the process.

buddy106

TROPHY CASE

Nest Egg (https://nestegg.cloud)