So I was just talking to my accountant... - GoFuckYourself.com

tabasco · 09-24-2010, 02:55 AM

I was bitching to him about how much money I got stiffed on in the last 2 months. 2.5K ePassporte, 9K SOBV, 0.5K Adult Profit. He told me of all his clients I had the lowest bad debt to profit ratio by a mile. All his clients are regular offline businesses from tradesmen up. Doesn't make me feel much better about it but does put it in perspective. Online is risky but so is business in general.

BittieBucks Eric · 09-24-2010, 04:39 AM

Everybody knows that business in general is risky. 2ct.

cambaby · 09-24-2010, 04:41 AM

Quote:

Originally Posted by tabasco

I was bitching to him about how much money I got stiffed on in the last 2 months. 2.5K ePassporte, 9K SOBV, 0.5K Adult Profit. He told me of all his clients I had the lowest bad debt to profit ratio by a mile. All his clients are regular offline businesses from tradesmen up. Doesn't make me feel much better about it but does put it in perspective. Online is risky but so is business in general.

Wow he is a good liar, better get a second opinion on that buddy.

Davy · 09-24-2010, 06:06 AM

Offline business usually requires a lot of investment before even starting the biz. So of course you are better off than they are.

J. Falcon · 09-24-2010, 06:10 AM

Quote:

Originally Posted by cambaby

Wow he is a good liar, better get a second opinion on that buddy.

Ok that was funny.

MobiusMike · 09-24-2010, 07:50 AM

Quote:

Originally Posted by tabasco

I was bitching to him about how much money I got stiffed on in the last 2 months. 2.5K ePassporte, 9K SOBV, 0.5K Adult Profit. He told me of all his clients I had the lowest bad debt to profit ratio by a mile. All his clients are regular offline businesses from tradesmen up. Doesn't make me feel much better about it but does put it in perspective. Online is risky but so is business in general.

So I was just browsing and I read this. At first I thought your accountant was probably right, but then in thinking about it for a minute, I realized that a "norm" business might have a higher bad debt ratio, but collection recovery is much more likely than the losses you incurred.

In general, a product based company who is owed money is owed from re-sellers (et al) who have a physical presence and can't fade off and disappear like they do here.

09-24-2010, 02:55 AM	#1
tabasco Confirmed User Industry Role: Join Date: Jul 2006 Location: In a van down by the river Posts: 2,624	So I was just talking to my accountant... I was bitching to him about how much money I got stiffed on in the last 2 months. 2.5K ePassporte, 9K SOBV, 0.5K Adult Profit. He told me of all his clients I had the lowest bad debt to profit ratio by a mile. All his clients are regular offline businesses from tradesmen up. Doesn't make me feel much better about it but does put it in perspective. Online is risky but so is business in general. __________________ "There is no other way to see a thing except to look at it" - fatfoo

09-24-2010, 04:39 AM	#2
BittieBucks Eric Confirmed User Industry Role: Join Date: Aug 2010 Posts: 457	Everybody knows that business in general is risky. 2ct. __________________ Bittie Bucks - Upto 70% Revshare - CCBill Cascading Program - 10% Webmaster Referral [email protected] - ICQ - 594415957 Need Content TRASHY CONTENT

09-24-2010, 06:06 AM	#4
Davy Confirmed User Industry Role: Join Date: Apr 2006 Location: Germany Posts: 4,323	Offline business usually requires a lot of investment before even starting the biz. So of course you are better off than they are. __________________ --- ICQ 14-76-98 <-- I don't use this at all