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r/Business - Top Weekly Reddit

Brings you the best of your business section. From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish.

December 20, 2024  18:06:36
December 19, 2024  10:46:08

My first business (online) was started when I was 18 years old. (Unsuccessful, but made first sales)

Since then I was stuck on the Idea of getting successful and rich.

I usually would have a normal and healthy social lifestyle, from seeing friends multiple times a week and meeting women on monthly basis I started shifting my priorities towards my business and fitness / nutrition.

I removed alcohol, party and „stopped going out on weekends to save money“, my Friends started asking whats wrong with me, with that I found a 2.5x better payed job and moved to boring country side.

Things changed and I started 2-3 other businesses which failed miserably and where I lost motivation after a year.

Then with 24 years old I found a working business idea (which only works half of the year), nothing that will make me really rich in a short amount of time but It could be automated and build-up / scaled easily and help me build other businesses which gave higher revenue..

Here I am 25, no Friends, no Girlfriend, no Sexlife, only me my Job in this shitty weather depressed in winter I had started replacing weed with social contact and isolated my self completely from anyone except my Parents and brother.

I am done, I came to the conclusion that all those changes are bullshit, It gained me nothing but frustration…

I am currently working on building up a social life again and trying not to be to stingy. My business will be standing 100% next year and I am happy about it but I just hope finding social connections again.

Did you experience something similar or what would you tell me on what I could do better?

submitted by /u/HumanBeeing-
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December 16, 2024  08:06:40

Hey yall, I am a 21-year-old student studying in my last year as a math + cs student at a top university. I have created numerous apps before, but did it all myself (without a co-founder). I have grand aspirations for creating a big startup in the future with lots of funding, and want to find a co-founder, but have difficulty finding one. For context, I am a technical person with lots of experience in coding. How would I go about achieving my dreams and finding a cofounder (because I have no luck right now)?

submitted by /u/National-Position-85
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December 17, 2024  19:32:38

Hey Reddit!

I just landed my first $3,400 client for my web development agency, and I couldn’t be more excited! 🎉 This is my first step toward turning my side hustle into a full-time gig. Right now, I’m working a 9-5, but my goal is to scale this up so I can eventually go all-in on my business.

For those of you who’ve been in a similar position, I’d love your advice: 1. How do I keep a steady stream of clients coming in? 2. What strategies worked best for you in scaling your business? 3. Any tips on managing time between a 9-5 and client work while avoiding burnout?

Would love to hear your insights! Thanks in advance! 🙌

submitted by /u/Reikoii
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December 16, 2024  23:32:28

My father is 80 years old and is financially struggling after my mother's battle with rectal cancer. He's in at least 5k worth of credit card debt, and the same for bills with his business. He has a crap ton of cars and car parts, all in various stages of restoration, 4 of which are finished, like a 70s Chevrolet Nova with a 502 big block motor and a 90s Impala and z28 Camero. I've tried listing these finished cars on various marketplaces, but we haven't had any luck. He's ready to sell, retire, and maybe have a project car at our house. But he has no one willing to help him, and we've had no bites on the ready-to-drive vehicles. I'm basically at the point of begging for advice or information on how to sell his stuff. I appreciate any help you can provide.

Update 1 This is the nova, it's the only one I have listed on craiglists at the moment. And I'm unsure of how to post the other pictures I have on here.

https://columbusga.craigslist.org/cto/d/columbus-1973-chevrolet-nova/7808357923.html

Update 2 12/18/24 Thank y'all for the information. It's a slow process since I'm working full time, school full time, and taking care of my elderly mother. I've joined a local Facebook group and will be posting on there soon. My father said he doesn't want to do consignment at this point. But we are looking into other options like some of the auction websites that yall have provided. Thank yall so much for the information and I hope for more news in the coming new year.

submitted by /u/sunshinejinx
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December 18, 2024  23:01:06

How do they stay in business when competing with other car wash businesses in the area? What makes someone go to one car wash rather than the other and how do car washes stay afloat with multiple car washes in the area?

submitted by /u/elsalvador4
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December 19, 2024  20:57:59

What are some of the top books you’ve read that have had a meaningful impact on your approach to business and/or investing?

Some of my favourite reads as of late (in no particular order) are: Dead Companies Walking, The Psychology of Money, The Richest Man in Babylon, and A Man for all Markets.

submitted by /u/blokchoii
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December 22, 2024  17:12:41

Have a friend that I would like to gift a book related to starting a small personal business, something where little capital is needed to start. . Can anyone suggest a good author or title? thought about the book "$100 start up" but was hoping to get a few more suggestions. Thanks for the help

submitted by /u/jherr0307
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December 19, 2024  11:45:17

I've been with my company since 2011, starting at $12/hour when we were making $1.5M annually. Over the years, I've worked my way up to General Manager and now oversee and run the entire business, which has grown to $10M annually.

In 2019, we were acquired by private equity. I have a great relationship with them, and they've invested in me. My compensation is as follows:

  • Base Salary: $130,000
  • Bonus: $80,000 annually (based on EBITDA growth, so not guaranteed, which means I constantly worry every year about whether I’ll hit the targets needed to keep my income consistent.)
  • Benefits: Fully paid health insurance, 3 weeks PTO, 3 sick days, paid holidays, but no 401k.

The company is a 15-minute drive from my home, offers flexibility, and provides job security. I’ve been told I’ll be elevated to a higher role overseeing two merged businesses after an acquisition hinting at a CEO/COO type of role, but in a recent discussion, the title mentioned was “Operations Manager,” which felt like a step down. To complicate matters, they’ve promoted our VP of Sales (a culturally poor fit) to President of the merged company—a move that hasn’t sat well with anyone.

I don’t love my job, but I’m good at it and it’s comfortable. However, I often find myself bogged down in day-to-day tasks that shouldn’t be my responsibility at this level.

Now, I’ve received an offer from another company as a General Manager:

  • Base Salary: $215,000
  • Bonus: TBD
  • Benefits: 401k, PTO, 65% Insurance Paid by Employer, etc.
  • Commute: 1-hour drive
  • Business Info: Annual sales are similar, but employee count is double. The company is acquiring distressed businesses, aiming to build a large conglomerate without plans to flip or sell.

The idea of leaving my comfort zone is terrifying. What if it doesn’t work out? I’ve spent 14 years building my career here, but the pay and opportunity at the new job are hard to ignore.

I’m 38, with no degree, but years of experience and expertise. I’d appreciate your thoughts: Should I stay where I’m comfortable and secure, despite the stress of chasing an uncertain bonus, or take the leap into the unknown for higher pay and new opportunities?

submitted by /u/BlitzDaTweetGawd
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December 18, 2024  00:26:37

The automakers, Japan’s second and third largest, are said to be discussing a tie-up that could reshape the country’s industry.

submitted by /u/StrngBrew
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December 20, 2024  13:45:09

I've been working in sales for years and running my own small business on the side . I have a passion for making money and sales but I've been stuck in low end retail sales for years making around 50k- 80k a year . Would a business degree help me advance further? If so what type of business degree should I get ?

submitted by /u/Getbackboy
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December 17, 2024  18:33:33

According to a recently published study, whether they often or rarely return products they’ve purchased, customers lower their purchase and positive word-of-mouth intentions when retailers restrict their long-standing lenient return policies. However, when retailers announce their new, stricter return policies using official communication channels and provide a rationale, there is less backlash. Customers find the restrictions more justified if the retailers highlight increased return abuse, in which customers return products they’ve already used, or the high cost of processing returns.

More about this research: https://theconversation.com/retailers-that-make-it-harder-to-return-stuff-face-backlash-from-their-customers-245239

submitted by /u/Much_Illustrator948
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December 16, 2024  21:03:11

I’ve been reflecting on what it means for a business to “succeed,” and I’m curious to hear how others define this.

submitted by /u/Odd-Question-1740
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December 21, 2024  19:03:10

In Chapter 5 (pages 183-185) of his book "Los días de gloria", Mario Conde explains the negotiations that led to the sale of the Spanish laboratory “Antibióticos” to the Italian group Montedison in March 1987.

The company’s largest shareholder was Juan Abelló, holding nearly 50% of the capital. However, Conde, in addition to being its CEO, also owned 25%.

The final price negotiations took place in Milan, where Conde went alone to negotiate directly with Carlo Gritti, representing the Italians.

After agreeing with Gritti on a sale price of [X] million dollars, Conde called Juan Abelló and said:

-“Well, Juan, we’ve closed at $350 million. I think it’s a great price, though it’s not finalized yet. I’ll keep negotiating and call you back.”

In a second call, Conde updated Abelló:

-“Hey, Juan, what I told you earlier didn’t work out. There has been a change in the price.”

-“I figured,” replied Abelló. “So, what’s the new deal? $250 or $300?”

-“It’s [X]. I’m heading to Mallorca tomorrow,” Conde responded.

The question: How much is [X]?

The answer: Before calling Juan Abelló for the first time, Conde had already closed the deal with Gritti at $450 million (meaning X = $450 million).

This maneuver shows Mario Conde’s sharp wit and deep understanding of human nature.

Not only did he demonstrate exceptional negotiating skills, but by tempering Abelló’s expectations, he ensured enough wiggle room and that the final price came as a delightful surprise.

Expectations are everything in life.

Knowing how to create expectations when negotiating is a game-changer.

submitted by /u/Upstairs_Evidence_85
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