They say nobody ever started a small business out of a love for numbers, but if you really want to stay the course, you’re going to want to fall in love fast. It’s only by keeping detailed accounts and tracking your business’ numbers over time, (net sales, cost of goods sold, and average transaction size) that you’ll start to gather the actionable insights you need to make intelligent business decisions.
Both kids and adults have sat inside [the Optimus Prime truck] and been brought to tears. For many, it is a dream come true. Some kids are very intimidated by Optimus Prime because of the size and won’t go anywhere near it. But I love making people smile. The fact that I can make them smile for just a few minutes by seeing Optimus Prime on the highway means the world to me.
If you live where summers get hot and humid, you may need more than a fan to keep cool in your workshop. Fortunately, air conditioners will both dehumidify and cool your space — and you don’t need a traditional window to get the job done. Instead of a residential window unit, consider a freestanding portable air conditioner that you can use as needed on hot days.
It’s important that you have a fundamental understanding of what is making your business successful before you decide to expand. Who are your customers and why do they enjoy what you offer? Who are your suppliers and will they be able to deliver to your new location? What are your operating costs and will they be the same in a new location? A lot of small businesses start off in the suburbs of a town before making the move to a city’s business district, only to find that unexpected additional costs are swallowing up their profits.
Due diligence is the process of going through the current owner’s books with a fine-tooth comb to verify inventory information, sales data, average ticket price, and every other aspect of the business. Doing all this yourself is difficult and time-consuming, so you’ll probably want to involve accountants and lawyers to ensure that you cross all the t’s and dot all the i’s. A big red flag to watch out for here is how intertwined the current owner’s personal expenses are with the business accounts — this can obscure the genuine flow of cash in and cash out of the business. The purchase price of an existing business is often calculated as three to five times the net annual revenue, so you’ll want to take that figure into account before you make an offer.
Before starting your small business and opening its doors, it is important to take some time to define your end goal. While it almost goes without saying that this goal will be subject to change, it is only by recognizing and clearly articulating your long-term ambitions that you can provide yourself with a compass that will guide every business decision.

The core criteria of small business site selection will always be foot traffic and ease of access. In places like New York City, this means being by the subway or on a busy street. But for most of America it’s about considering traffic flow and parking accessibility. Ever see three gas stations at the same intersection? They are all picking off different traffic flows because they know customers are looking for the shortest possible detour.

There are benefits to either approach. Sharing a common wall with your house can require some careful soundproofing but can reduce heat loss and exterior fin­ishing costs like siding. A shop located in an addition is more likely to be allowed to have living space or storage space above it, and it may be easier to make use of the existing plumbing and electri­cal and heating systems of your home to service your shop space. Another advantage of an addition is not having to run to an outbuilding in minus-30-degree weather or a summer downpour.
While a single great product can’t usually support a whole business, it is beneficial to select one or two “headline” products that will form the cornerstone of your offering. This will often be an obvious choice: If you’re a coffee shop, your headline product will be coffee. If you’re a burger joint, you guessed it, it’ll be burgers. This product will often be the centerpiece of your marketing efforts and a way for you to “own” a space in a customer’s mind. For example, Jack’s Burgers makes the best cheeseburger in town and Daisy’s Threads has the most adorable scarves.
I’ve been living out of my Mazda 3—not the hatchback version!— for over two years now. I love the gas savings (standard transmission; I can get up to 40mpg) and the ease of getting around places. I don’t love that I can’t lay flat (hurts the back) and that organization is tricky. However, there are certainly ways to make it work. Ryan linked to one article and there are two others that shed light on some important aspects when going on a long road trip like this.
If I had it to do over again, I would stick to an entry level miter saw and table saw until I had both the funds and need to upgrade to more capable saws.  Because of this, I'd stick to the two saws we looked at in the $500 build: ​The Craftsman Table Saw for ~$150 and Hitachi 10 inch Miter Saw for ~110.  These two additions bring our running total to just over $500.  

Compensation is a critical key to retaining and motivating the right employees. However, since small businesses often start out with tight budgets, compensation is an area they often struggle with, commonly leading to bad hiring decisions that affect overall business performance. The good news is that employers willing to step outside the hourly-wage box have a variety of options.


Designing your retail store's interior is a topic that we've been looking at recently in an effort to help boutique merchants be more successful and thrive in today's digital era. From telling your brand's story and creating immersive shopping experiences, to putting together head-turning window displays and signage essentials, when it comes to retail, the devil really is in the details. As such, we want you to help you get the basics down pat. 
Begin by cutting off a 10-in. length of the board and setting it aside. Rip the remaining 38-in. board to 6 in. wide and cut five evenly spaced saw kerfs 5/8 in. deep along one face. Crosscut the slotted board into four 9-in. pieces and glue them into a block, being careful not to slop glue into the saw kerfs (you can clean them out with a knife before the glue dries). Saw a 15-degree angle on one end and screw the plywood piece under the angled end of the block.
My wife and I have just bought a block and will be building a new house – as part of this will be the building of the “shed” – which is really a workshop as I am a very keen Woodworker (I have most of the toys!!). My question is – Leaving money aside “Is a brick or metal shed better – especially in regards to moisture, inside temperature (heating and cooling), noise etc”? Any other suggestions would also be appreciated – eg lining the structure, power needs, lighting, etc. I appreciate your expert opinion. – Ivan Banks

I want the shop to be big! Not only do I have a lot of tools, but I tend to frequently bring tools in for testing. As you probably know by now, I also do a lot of filming. So I need a space big enough to allow for full movement around most of the tools. My tripod has a pretty good-sized footprint and having more room allows me to get the best vantage point possible. More space will also allow me to stage larger pieces of furniture, whether for the show or for jobs I take on locally.
In our Complete Coffee Shop Startups Kit, we spend a good amount of time discussing your health department requisites, your coffee equipment, and even the design of your coffee shop. Since this makes up a significant bulk of your startup costs (equipment, space requirements, etc.), we recommend that you spend an extra couple of hours strengthening your knowledge base with listening to our audio interviews.
Great shop just what you need. You mentioned your lighting was a little thin on the ends of your shop. The best way to lay out rows of lights in an open space like yours is to figure out how many rows you want. Now in your shop six rows would give you a good coverage, so you would divide the length, 60′, by the number of rows, this gives you the space between rows, then divide this in half, this gives you the space from the wall to the first row. For a 60′ room with six rows this would be 10′ between rows and 5′ off the end wall. This will give you consistent light from wall to wall.
Ordinary clip-in-place shelf brackets with slotted metal supports can hold a lot of weight. But some-times they’re unstable and can be easily knocked loose. The play in the slots allows the bracket and shelf to shift from side to side. To prevent this, use your circular saw to cut 1/8-in. deep slots into the undersides of the shelves, aligned with each bracket. When the shelf is assembled, the brackets fit into the slots, eliminating the sway. Also check out: How To Build Floating Shelves.
Most people know they should document their homes contents for insurance reasons but they often ask why or how to do it the right way. If you have a loss due to fire, theft or a natural disaster your insurance company will need certain details to complete the claims process, including a description of the item, the model number, the serial number the date purchased the color and the purchase price.
“Your sales floor is a living, breathing entity that needs to change—frequently—in order to flourish. It’s the retailer’s job to make that happen. If your store is filled with the latest and greatest products, but your sales are in a rut, it could be because your customers are bored. They come to your store not just to buy; they come for ideas and inspiration. And they come to be entertained—even when they don’t buy anything, that experience is what brings them back.”

The standard option for a shop floor is a concrete slab. You’re probably not going to go to the trouble of creating a basement beneath your shop, although it is possible. The weight of most woodworking machines suggests that a con­crete floor is the most solid and durable substrate available. It has the potential to be used as thermal mass to store heat from your heating system or from the sun, but it can be tiring and hard on your body to be standing on concrete all the time. You can add a vapour barrier, 2x4 sleepers and a wooden floor above the concrete to ease the tendency of the floor to strain your feet and back, or you can add anti-fatigue mats in key areas where you’ll be standing for longer periods.
Thanks for the quick reply. Sounds like you haven't had any big problems with the moisture. I'm in NoVA too, so that bodes well for me. I was considering finding some tyvek house wrap or something to go around the walls in addition to a plastic vapor barrier under the floor, but it sounds like that is not going to be necessary. I was also thinking I'd try to find a window AC unit to use like you did. I like how you mounted yours up high.
Above all, remember that all of these elements can form part of your negotiation. Unless you are pursuing a highly desired space in a hot rental market, there is usually a point of leverage available to you in every lease negotiation. When it comes to getting the best possible deal in these situations, you’ll want to seek quality professional advice, this will normally include a broker and real estate lawyer.
Love the local history of your city or state? Consider becoming a tour guide. Sure, you’ll need to conduct tons of research to be able to do the job well, but that’s half the fun. Set yourself apart by offering tours that speak to a specific niche of your community’s history. Some tour guides offer historical walking tours of their town’s most haunted spots while others curate guided foodie tours for guests to get a true taste of the city.
On a more mundane, but equally important note, the costs of retroactively fixing errors in a name choice or a business structure can be enormous, both in your time and in real-terms. It is therefore important that you do your research and establish the correct legal structure for your business early on. Still not sure what steps you need to take to incorporate your business? Visit BizFilings.com to learn more about the first five steps you need to take when incorporating your business.
Well I’ve been kind of fighting that, because I wanted to keep it open to where you could have the flexibility of moving things in and out. It probably makes sense. Actually have another old set of cabinets I thought about putting here, maybe put some really good casters on it to where you could keep it here. I’m also, wanted to be able to store like drum sander, other things that can go under it and then you can take those out and put them on this.
Sprinter vans have been around for awhile, but they’re still the new kid on the block. These vans are especially known for their interior height, long wheelbase, and boxier shape - making them ideal for building out a spacious, functional living space. This category includes the original Mercedes/Dodge Sprinters, as well as Ford Transits and Dodge Promasters (check out this article and this helpful graphic for more information on the differences between these).
In every aspect when starting your small business you should be mindful of making careful, prudent decisions about the allocation of your potentially limited funds — tracking precisely the cost of goods sold (CoGS) against sales to ensure profitability. Every dollar spent is tracked and accounted for, either as an essential cost of doing business (rent, employees, etc.) or as a cost of inventory that will result directly in profit.
This legal name is your first step in separating you and your business as two distinct entities. You will use your DBA name on all legal paperwork and government forms, such as applications for employer tax IDs, licenses, and permits. It is significantly harder to go back and have this applied retroactively, so it’s worth getting it right from the start.
They say nobody ever started a small business out of a love for numbers, but if you really want to stay the course, you’re going to want to fall in love fast. It’s only by keeping detailed accounts and tracking your business’ numbers over time, (net sales, cost of goods sold, and average transaction size) that you’ll start to gather the actionable insights you need to make intelligent business decisions.
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