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    Friday, February 2, 2018

    Accomplishments and Lesson Learned Friday! - (February 02, 2018) Entrepreneur

    Accomplishments and Lesson Learned Friday! - (February 02, 2018) Entrepreneur


    Accomplishments and Lesson Learned Friday! - (February 02, 2018)

    Posted: 02 Feb 2018 05:06 AM PST

    Please use this thread to share any accomplishment you care to gloat about, and some lessons learned.

    This is a weekly thread to encourage new members to participate, and post their accomplishments, as well as give the veterans an opportunity to inspire the up-and-comers.

    Since this thread can fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

    submitted by /u/AutoModerator
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    Hi, i'm 17 years old and this is my startup app. I have spent my childhood programming and this is my first success.

    Posted: 01 Feb 2018 09:02 PM PST

    Hi Reddit,

    A little bit of background info: I've been programming for years in Java and Web Programming Languages.

    Today, I release to you, the best way to find the worst business and startup ideas.

    http://davidtsong.com/terrible.html

    I've made $0 in revenue and nobody uses my app.

    I figured, after years of thinking of terrible ideas and creating things nobody use, it's time to put my best skill to use: my ability to brainstorm terrible ideas.

    Please let me know if you think I should raise another round of seed funding. I've already burned through my series A funding to give you this prototype.

    Garcias, David

    submitted by /u/unluckybusinessowner
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    I have spent $200 advertising on Shopify with no results...

    Posted: 02 Feb 2018 07:31 AM PST

    I recently got into Shopify drop-shipping as I may have gotten a little too excited seeing unrealistic results from YouTube videos. I chose my niche (backpacks, bags, travel) made a nice looking site and started to advertise.

    I have spent nearly $200 dollars advertising on Facebook and also using Instagram influencers and have gotten zero sales. My site is drawing decent traffic with around an average of 10 users a day sometimes days of 20+, but still no sales. I am asking myself why? And am not getting an answer. Is it my site, my product, my prices?

    Please any advice.

    [Here is my shop](www.trndpak.com)

    submitted by /u/t_sett
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    [serious] What do you think the most critical element one must have to become a successful entrepreneur???

    Posted: 02 Feb 2018 11:38 AM PST

    I tend to believe having the foundation of a happy positive mindset using a daily routine when you wake up to create happiness which has proven to help you become super engaged, motivated, creative, resilient, energetic and more productive at work is the answer. Would like to know whether you agree - disagree and if so your opinion and why? Thanks appreciate the feedback.

    submitted by /u/Happi-Pappi
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    Financing Acquisitions

    Posted: 02 Feb 2018 11:49 AM PST

    Anyone specialize in financing acquisitions between $1M - $5M? Just looking to get a lay of the land as is, where the best rates are, etc...

    I'm fairly familiar with this but it appears there are some new options available that didn't exist a few years ago, like P2P financing for acquisitions. IE. Lendio claims to be able to do 4% - 6% for an acquisition which seems low to me based on what traditional big bank loans fueled by the SBA offer.

    Should probably mention, looking for advice re: US deals. Europe/CAN are a totally different game that I don't want to play despite being Canadian.

    submitted by /u/Mehtabification
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    Is this subreddit only online businesses?

    Posted: 02 Feb 2018 11:07 AM PST

    I was excited when I found this subreddit, thinking there would be other business owners like me.

    What I've noticed is that it's 90% people selling stuff online, or having an app idea.

    Is there anyone on here that owns a boots on the ground company?

    Myself, I own a trucking company and a small start up solar business

    submitted by /u/SEILogistics
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    I sell full-time on eBay and Amazon (23M). Here is a breakdown of my profits for the month

    Posted: 01 Feb 2018 07:46 PM PST

    I netted around $2300 for the month of January. I just moved out of my parents house (I dropped out of college last year), and I have to go to the library to print labels since I have yet to get a printer, so I'm pretty proud of myself with these numbers.

    I wrote an article that goes deeper into the details that you can read here:

    http://www.daysofharmoney.com/income-report-january-2018/

    submitted by /u/soup_cook
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    How do I convince small businesses that have terrible websites to buy my services?

    Posted: 02 Feb 2018 10:02 AM PST

    This is with all types of businesses. It seems like they really just dont get it. I keep hearing the same story. So and so's brother, wife, son, daughter manages the site or no, we are fine with it, etc. Is it that I'm just a bad salesman? I mean I actually hear people tell me the work I do is really great but that they aren't interested. Any help or suggestions would be great. This has been a huge challenge for me and I haven't been able to figure out how to get through it yet.

    submitted by /u/mattMEGAbit
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    Traffic is there, abandoned carts are high, what can I do to improve?

    Posted: 02 Feb 2018 10:06 AM PST

    I manufacture and sell men's grooming products. My target demographic are guys like me. Those who like good beer, good bbq, and want a good looking beard. It's fun to me, and I use the platform as a creative outlet to work on improving my writing, design, and marketing skill sets. I'm seeing enough results to keep me excited, but I'd love some advice on how to take it a step further, lower my abandoned carts, increase order size, and grow my social media presence.

    Last month, I had just over 1,000 visits to the site from 800 customers. I'm currently getting a 12.99% repeat customer rate and average about 80 orders per month.

    Additional January stats: 22.23% add to cart 15.40% reach checkout 08.46% purchase

    My Alexa rank is 1,228,729 and 203,715 in the US.

    What would you do if this were your site? How do you feel as a customer when you visit?

    site is (www.shaggybrand.com)

    submitted by /u/bigsexy_989
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    "Successful" Entrepreneurs, how do you battle complacency?

    Posted: 01 Feb 2018 02:24 PM PST

    Notice I typed in successful in quotations, my business has been doing well the last few years, averaging 250k net a year. And with that, I kind of lost the passion and drive to do better. Before this, I was busting my ass daily just trying to maintain my cost of living. Now, being comfortable has been my downfall, and I want to know what other people who may have been my position did to re-motivate themselves, and what resulted out of that? Thanks for reading.

    submitted by /u/romebe82
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    How do i find authorized wholesalers? The one that will sell me smaller chunks

    Posted: 02 Feb 2018 10:37 AM PST

    How do i find authorized suppliers, the one that will sell me 100 pieces instead of 1000 pieces?

    For example, if i want to sell GoPro cameras, i can't possibly be asking them "do you have a list of authorised wholesalers?". How do i find out?

    submitted by /u/oregonbuck
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    Do traditional marketing/sales techniques work on those who are well versed on marketing/sales?

    Posted: 02 Feb 2018 10:10 AM PST

    I feel there is a natural tendency among marketers and salespeople to reject products once they start feeling that the techniques they are using themselves are being used against them. Is this natural?

    submitted by /u/kimoz1010
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    How do you guys establish your retainer fees?

    Posted: 02 Feb 2018 08:23 AM PST

    Is Legalzoom a good idea for a first time small business owner?

    Posted: 02 Feb 2018 01:54 PM PST

    Hello everyone,

    I am opening a hot dog stand in southern California. Currently I work full time in insurance and cannot wait to get out of the industry. I am 23 and have always been motivated to work for myself. I am currently saving for all of my business expenses. After everything it should be right around $5,300. I've been able to save about 45% of my current income by just eating basically peanut butter sandwiches and throwing any money that is usually spent on entertainment at the business. I will be fully funded by mid April but I have not started becoming a sole proprietorship or getting my business licenses. This is all new to me and it seems like I need to get a business license to get my sole proprietorship but then I can't get a business license until I start a sole proprietorship.

    Has anyone used Legalzoom? I am thinking that the $99 might just be worth it to save me some of the headache. I would also like to work on a few other things on the business than these each night. What is everyone's thoughts? Basically I want to know if Legalzoom will send me ALL the required docs that I will need (other than my health permit) to start the business.

    submitted by /u/Austinthelamp
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    Does anyone want help with their advertising?

    Posted: 02 Feb 2018 01:54 PM PST

    Graphic designer here, kinda sick, kinda bored so I'm looking for something to keep myself busy with this weekend.

    Check out my work

    If you want help putting together some ads for your business, rebranding, or just need some creative input let me know, pay me or don't I don't care I just need something to do right now.

    I would prefer to do something advertising focused, instead of design focused though.

    submitted by /u/Wumbo_Corp
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    Does someone now a Website, where I can design a sticker and a another company sells it?

    Posted: 02 Feb 2018 01:45 PM PST

    I just knew Teespring, however these stickers were pretty expensive and they were not "cut out", teespring used A4 pages and just printed the sticker at the whole page, as far as I can remember.

    If there is no company that does that, do you guys know a way where I can turn a design into a sticker and then buy these stickers. I would need someone who would ship the stickers to europe (france).

    Thanks in advance.

    submitted by /u/tinaclark90
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    9 tech Startup trends!

    Posted: 02 Feb 2018 01:23 PM PST

    A blog I put up on steemit! Check out the platform. https://steemit.com/startup/@elrey/9-tech-trends-that-you-have-to-keep-an-eye-on-in-2018 #entrepreneurship #technology #artificalintelligence #machinelearning #VirtualReality

    submitted by /u/rdbacon
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    Is it okay to work with rocketmanfx? One of my friend told me about this.

    Posted: 02 Feb 2018 01:15 PM PST

    My friend told me that he is working and making a lot money, they are offering a 1 month free trial with no obligation or commitments.

    http://www.rocketmanfx.com/ What do you think about this?

    submitted by /u/Calliey_Whaley
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    How Foreign Firms Can Participate in U.S. Government Procurement

    Posted: 02 Feb 2018 12:47 PM PST

    Original Published on BidNet

    Are you a foreign firm looking to conduct business with the United States government but aren't sure where to start?

    Each year, the United States spends more money purchasing goods and services than any other country in the world, amounting to trillions of dollars. Bidding opportunities with public agencies are available at all levels of government, including federal, state, local, municipal and special districts. Most government agencies welcome bids from any firm that is qualified to compete for the opportunity to win the contract, regardless of whether they are based in the U.S. or a foreign country.

    According to the Government Accountability Office (GAO), the United States offers more bidding opportunities to foreign companies to compete for government business, specifically from the 57 countries that are party to international trade agreements with the U.S.

    According to the GAO, in 2010 the U.S. spent $837 billion on GPA-covered procurement, more than double what the next five largest parties of the GPA (the European Union, Japan, South Korea, Norway and Canada) spent combined (a total of $381 billion in 2010).

    Of the top 100 firms who have been awarded contracts with the U.S. government, around 35 are headquartered in other countries, including the United Kingdom, Sweden, Ukraine, South Africa, Italy, Belgium, Switzerland, Austria, Japan, Saudi Arabia, Croatia, Israel, Singapore, Norway, Brazil, France, Denmark and Australia. Britain's BAE Systems is regularly listed as one of the top 10 contractors for the United States, as measured by contract award amounts: in 2011, BAE won a $6.92 billion contract to supply the U.S. government, making it the 8th largest government contractor that year.

    What to do Before Bidding on U.S. Government Opportunities

    Contracting in the public sector is a bit different from the private sector. Public sector contractors in the United States are subject to more rules and regulations and companies that are interested in bidding on government contracts must follow U.S. law at every stage of the bidding process; this is true for any company, whether domestic or international.

    The first thing a foreign firm must do in order to start bidding is obtain a NATO Commercial and Government Entity (NCAGE) code. This code is assigned as part of the NATO codification system and is required when registering a foreign firm with the System for Award Management (SAM), which is mandatory for companies that want to bid on U.S. federal contracts. Before registering with SAM, companies also need to obtain a DUNS number, another requirement for any firm bidding on any type of government bid in the United States.

    In order to obtain an NCAGE code, your company will first need to register with the NATO Support and Procurement Agency. To register your firm, use the NATO Codification Tool website where you will be prompted to create a sign in and be directed to request a NCAGE code by clicking the "Request New" button. Once you complete the process of requesting an NCAGE, the system will then validate the code and you will receive an email to verify your information and the code. This process could take up to ten business days.

    After the code is validated you can then register with SAM, but again, validation could take an additional ten days. Once you have received all your codes and have registered your business through the proper channels, you can start bidding on U.S. government opportunities.

    Tips on Bidding for Foreign Companies

    • Know your customer – Your country may have its own regulations and laws that apply to firms that provide goods and services to a foreign government, but remember that you must also follow U.S. law when selling to the United States. The best way to find out what the rules and regulations for working with the U.S. government are is by becoming familiar with the Federal Acquisition Regulation (FAR). FAR explains the procedures, laws, regulations, etc. that apply to both the purchaser and seller. It's a set of guidelines to help both parties participate in a fair, open and transparent competition.

    • Go after subcontracting opportunities – If you're new to bidding, it's a good idea to start out as a subcontractor if an opportunity allows for it. Subcontracting allows you to get your feet wet in the world of bidding on U.S. government opportunities without having to shoulder most of the risk. Subcontracting also allows you to gain experience and knowledge before going out on your own and becoming a prime vendor.

    • Establish a presence in the U.S. – Although companies will not be disqualified from bidding for not having some aspect of their operations based in the United States, it can certainly be helpful to have a presence in the U.S., whether it's a separate branch of the company or an employee who can take care of U.S. operations. Having someone 'on the ground' in the U.S. will be helpful if your company wins a contract.

    • Look for bids in your own country – Since the United States government also operates in foreign countries, there may be bid opportunities available in your own backyard. In these cases, not having to pay to ship products to the U.S. could cut your costs considerably, and shorten the time frame for products to arrive to their destination.

    Working with the U.S. government can be a great opportunity to build relationships and establish rapport with buying agencies the United States. Winning a contract to provide goods or services to agencies in the U.S. can also lead to more opportunities if the U.S. happens to need the same goods or services provided in the foreign firm's own country or surrounding countries. Remember to prepare your company for working within the United States by becoming familiar with the rules and laws established for government bidding. If your company can comply with the contract terms and is registered with the authorities, there's no reason for you not to go after bid opportunities in the United States.

    submitted by /u/Mormolin
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    Setting up an amazon affiliate shop with a blog that targets people in that niche and redirects them to my affiliate shop dumb idea?

    Posted: 02 Feb 2018 12:44 PM PST

    I don't know about this was thinking of setting up a shop for a particular niche with amazon affiliates but do people actually use such a shop? anyone actually had success in 2018 doing something similar?

    submitted by /u/Dragonlordsk8er
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    Is my current business even legal?

    Posted: 02 Feb 2018 12:34 PM PST

    Hello Entrepreneurs!

    Since 2013, I've had a Senior Companion business. I help seniors (old people) in their home with companionship activities like talking about current events, going for walks, doing crossword puzzles, doing art, etc.

    It's worked out great. I've been called a "lifesaver" by multiple client's families because I allow the senior to stay at home without moving to a nursing home.

    I work as an independent contractor. I'm not insured or bonded or anything. Sometimes, I wonder if what I'm doing is legal. I'm very cautious generally, though. I do wonder if I could get sued if the client falls and gets hurt or something.

    Is my business even legal? What do you think? Thank you!

    submitted by /u/BrianW1983
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    Looking for supplemental income. Business or part time job. Any ideas?

    Posted: 02 Feb 2018 12:21 PM PST

    Hey guys, Just trying to figure out ways I can work from home and pull in some extra money. I would love to start a small business for myself, but I have zero idea where to start or even what I could do. None of my skills are in anyway marketable, so I would need to learn something totally new.

    What are some ways you guys have drawn in extra income over the internet at home. Ideas that are worth the effort, not filling out surveys or anything like that. I would love to hear some ideas from you guys. I'm up to the grind, I just need to know what to grind.

    Thanks!

    submitted by /u/zilltheinfestor
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    Any recommendations on phone services for my online shop?

    Posted: 02 Feb 2018 12:10 PM PST

    I run an ecommerce shop and would like a 1-800 number or something similar so customers can contact us for support. I currently use a google voice number that's linked to my cell phone but when I call back, the customer sees my cell phone number. I would like something that I can create a custom greeting, vm, and callback number.

    What are you guys using?

    submitted by /u/caligrown2
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    Valuation of information product website?

    Posted: 02 Feb 2018 12:00 PM PST

    I currently have an info product website that is generating over $1,000 monthly on about 6000 visitors. I am currently stuck in between whether or not I want to sell it or scale it, and the possible exit price is a huge factor in this decision.

    While looking at online marketplaces, I have struggled to find similar websites that are making all of their revenue through an info product. I don't make any money through adsense or affiliate programs, and I'm currently just selling 1 eBook.

    The only work I do is an occasional blog post (seems to have little effect on my sales number, I've gone weeks without posting and still had consistent sales), and sometimes customer support when people don't know how to download their eBook (made an email template for this issue).

    I'd like to know what this site is worth. Also, if anyone has experience in information product websites, I'd love to connect!

    Thanks.

    submitted by /u/broseidonswrath
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    We've made a tool that instantly turns your Medium articles into audio podcasts

    Posted: 02 Feb 2018 06:00 AM PST

    We are a start-up and we are trying to build a bridge between writers, authors and bloggers and their audiences. A bridge of convenience. And, we are doing this by allowing readers to listen to articles instead of reading them.

    We use the best in-class text-to-speech technology to convert the articles to audio podcasts. Once done, a cool looking embedded player is added to your article. We've kept the process really simple and easy to use. Here's an article we published on The Writing Cooperative today. Please check it out and leave us some applause if you find the tool useful --> https://writingcooperative.com/turn-your-medium-articles-into-podcasts-2bf1173b039a

    submitted by /u/Wishmecake
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    Instagram desktop app legality

    Posted: 02 Feb 2018 11:41 AM PST

    Hello everyone, I was wondering if I build a desktop instagram app, is it going to be illegal, if i do not use the official api? Currently Instagram doesn't allow posting images from desktop

    submitted by /u/piyiotisk
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