Mir's Mirror

Miriam Verdugo Week 7- 137 IC This class has really opened my eyes as what it takes to start a business and I have found out that it is a lot more difficult than I thought it would be. I didn't think I would need contracts with the person I would go into business with but I guess one falling out between us could end things badly and if there was no partnership contract then one of us could keep everything and leave the other with nothing and there would be nothing that could be done about it. Having a signed agreement with the customer I get because when I use to help a friend with his hauling business customers would always try to add work and not want to pay more. I get that aspect of business completely. Keeping records and figuring out where the monies go will be my strong point in running a business. My partner will have to give total control of finances over to me in order for it to work out because he doesn't understand that all the money made is not spending m...

Miriam Verdugo Week 6 MNGT 137 IC The Key to Building Strong Customer Relationships https://growingsocialbiz.com/strong-customer-relationships-built/ Ways to develop consistency and build strong customer relations: Conduct an online survey of service received Only make promises you can and will keep in marketing materials Pay attention to what people are saying about your company off and online Respond to incoming, positive or negative, client e-mails or phone calls in a timely manner Make sure everyone knows your definition and standards of customer service you expect them to follow Build and keep a good report with customers Customer loyalty takes time to build and being consistent is an important aspect to build it This week I chose an article on customer relationships because without customers no business can survive whether you offer a product or service. This article states what I think is pretty much common sense. You need to have a good report w...

Small Business Money Management- MNGT 137 IC Week 5 Hello everyone. Most of the articles I looked at told me what to do to manage the financial part of my small business.  13 Money Management Mistakes Small Businesses Make , by Kat Boogaard was filled with great information, easy to understand, and gave me much to think about. Money Management Mistakes: Spending Too Much Too Soon Overestimating Future Sales Failing To Manage Cash Flow Not Analyzing Prices Mixing Personal and Business Finances Confusing Profit With Cash Misunderstanding Business Deductions Skipping Tax Payments Neglecting to Re-invest in the Business Underpaying Yourself Operating w/o a Budget Not Building a Cushion Forgetting About Retirement Resources: https://quickbooks.intuit.com/r/financial-management/money-management-mistakes/ I never considered paying myself, I just figured I would use the money I made to pay bills. Having personal and business finances separate would m...

Tax planning and the people who can help. WEEK 4 MNGT 137 IC This week was confusing for me trying to keep all the information straight.  When my business gets up and running hopefully, I will have a better understanding of the whole tax process. I do plan on taking a tax preparation class in the future to further my knowledge on the subject. I didn't realize the importance of accurate bookkeeping until this week. I knew it had to be done but not to the extent. Being the one who will be responsible for every aspect of running my company I have a lot to learn before getting it up and running.  I am thinking of starting it as an LLC instead of a sole proprietor because I won't be able to all the work myself. I will have to check further into the pros and cons of each to make a final decision, but whichever way is easiest and less confusing for taxes is the one I will choose. As long as I keep moving forward and don't give up I can start a successful business.

WEEK 3 https://docs.google.com/presentation/d/1Gul0db1Jh0r6K5RziT-QDk8_3G9RBDxAs3mWu9H9LmI/edit?ts=5c4c0463#slide=id.p1

Week twos post will be about two individuals that have a successful online business selling items they make. Robin Fitzsimons owner of Fitzys and Coralie Reiter owner of Coralie Reiter Jewelry both turned what they love into a business. They have something else in common. Also, they say the journey was full of triumphs and defeats and required much effort on their part. Coralie Reiter Jewelry Coralie worked at a jewelry store designing jewelry and decided to design her own pieces after she wore a necklace that she made, and was asked where she purchased it from. Coralie began selling her jewelry on Etsy, and after people from all over the USA started buying her jewelry, she switched to Spotify because it was more flexible and more stylish. Pieces of her jewelry were advertised in Domino Magazine in June 2015, REAL LIFE Magazine in November 2015, OK! Magazine May 2017, and STAR Magazine June 2017. Fitzys Robin Fitzy received her bachelor of fine arts from OCAD ...