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Month: March 2019

One stop shop for all your small business needs

What does it really take to be a CEO?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com Motivation, leadership skills, and a great desk of research skills. Research is the key to building a profitible company. Humility is good to. Never be afraid to say i was wrong and move in another direction. Too…
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What are the legal issues when buying and reselling merchandise as an online business?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com The only legal issues with resale is that you must make sure that it is legal for you to sell what you are buying. Does your product require fda approval to resell? A tobacco or liquor license?…
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What are some things I should be aware of when starting my own small business in the USA?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com Do your research, over and over again. Costs, market value, equipment. And if you want to be able to grow, don’t plan on taking home a big paycheck. https://www.quora.com/What-are-some-things-I-should-be-aware-of-when-starting-my-own-small-business-in-the-USA/answer/Andrew-Steig

What should I focus on before starting an online business to keep it profitable?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com Research research research. Research your costs, over and over and over again. Find the right balance between price and quality. Research your market, make sure you are competitively priced. Research your execution costs, and equipment costs. Start…
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How do I discuss the financial state of a business (including ratios)?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com Graphs and pie charts are the most simple. We use an excel sheet with cost and profit categories separated and each category broken down by percentage. I think this is the best way to put the information…
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How do I structure multiple businesses under one S-Corp in the US?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com You will have to research your states rules, but most states offer dba or doing business as. You can have one business, with several names, one for each business. Just make sure all fit within the scope…
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What metrics determine business success/failure?

Answer by Drew Steig – Quoras Own Start Up and Small Business Guru Answer originally posted on Quora.Com There are many areas to focus on when running a business. Prices, labor, material cost, equipment cost. But i suspect you are looking for simple. If you boil it down to a couple key things i would…
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Does private security (like bodyguards) have a good future?

Answer by Drew Steig – Quoras Own Start Up Guru Answer originally posted on Quora.Com Several years ago my best friend was a former security guard. He was on disability. He had 2 major incidents in his life that hurt him horribly. First he was jumped at a construction site by 5 tweekers, and left…
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What incentives can you use to recruit a CEO for your company?

Answer by Drew Steig – Quoras Own Start Up Guru Answer originally posted on Quora.Com There are lots of great incentives out there, but let me tell you what attracted me to my current position. A combination of short term security and future profit sharing. I was offered a comfortable salary in a startup to…
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I have a nail salon business making 570k in sale and 180k revenue per year. How much should I sell the business for and where do I go find the buyers?

Answer by Drew Steig – Quoras Own Start Up Guru Answer originally posted on Quora.Com The best way to determine the worth of a business is a 5x multiplier on the annual profit. This would valuate your business at $900,000. As far as where to go to sell it, that will depend on your where…
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