There are so many more factors on the success of a small business than the greater Macro economy. While it may have some affect, there are many more things you have control over that will determine your ability to succeed.
There are so many more factors on the success of a small business than the greater Macro economy. While it may have some affect, there are many more things you have control over that will determine your ability to succeed.
Block that guy and even Ralph. Move on. Second guessing business decisions you already made can eat a lot of valuable time. I’ve been in situations where I look back and said “man I could have done that a little different”, but it’s just not worth the focus. Honestly, it doesn’t sound like you did anything wrong.
I think a lot depends on the type of business you are. For some reason, I’m guessing a restaurant. I’ve always enjoyed promotions that gives back to the community. Donate part of your sales between a specific time to the high school football team. Allow the middle school soccer team to do a car wash in your parking lot. Sponsor a Little League team. These are just examples, but I think they go a long way.
Do you have an employee handbook? What does it say about PTO? Most States don’t require you to have PTO, but if you offer it, you need to pay it.
You have a lot of good answers here, but the best thing you did (from a person who suffers from ADHD) is you identified you need help and you can’t do it all yourself. Some people get stuck and can’t identify they need the assistance
Get some pro help. CPA or enrolled agent. Shop around a bit. Chose someone you are comfortable with and will walk you through the process. IRS has a few different plans including payment plans (I think up to 72 months). The longer you wait, the worse it gets.
“Will I be educating a customer or a competitor?”
I have a fairly good size ATM business, been doing it for 15 years. I really enjoy it. Worked for a bank deploying ATMs prior and figured I could do it for myself. Everyone thinks it’s a passive business, but to scale it does take work. My only regret is, 90% of my income comes from that one business - I should have diversified, which I’m trying to do now.