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    Saturday, February 3, 2018

    Why did your business fail? Entrepreneur

    Why did your business fail? Entrepreneur


    Why did your business fail?

    Posted: 03 Feb 2018 09:42 AM PST

    Guys lets pool our knowledge here, why did your last business or businesses fail? Any lessons gained that will help out a budding entrepreneur can avoid?

    submitted by /u/aznology
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    What tools do you guys use to be more efficient with your time?

    Posted: 03 Feb 2018 07:53 AM PST

    Time efficiency is without a doubt my single biggest flaw. When I focus on a single item i can do amazing things but I am TERRIBLY flighty. I jump from thing to thing never getting anything accomplished. I've got a list but I RARELY stick to it. I'll start going through my list and then suddenly remember something else I'm supposed to get done or, in many cases, something I just want to do more.

    If I could master myself in this aspect I could conquer the world instead of spinning my wheels.

    Ps. Case in point... I came out to my shop to fulfill an order quickly and ended up doing this instead.

    submitted by /u/evilblackdog
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    Tips for entrepreneurs that I've learned

    Posted: 03 Feb 2018 11:35 AM PST

    1. Most entrepreneurs are not "wealthy", as a new time entrepreneur especially, you will be surrounded by much more financially successful employees. Being an entrepreneur does not make you better, or richer, than an employee.

    2. Your business partner is as important as a spouse, you will often spend more time with your partner than a spouse. Make sure you can trust them. If you don't trust them 100 percent, don't partner with them.

    3. Being an entrepreneur does not necessarily mean more freedom. Having employees, big ticket customers, an office space can be the opposite of freedom depending on your mentality.

    4. If a business influencer, youtuber, social media person does not reveal their actual financial information, DO NOT trust everything they say.

    5. The more esoteric your business, the better. Esoteric means "intended for or likely to be understood by only a small number of people with a specialized knowledge or interest." The easier it is to start your business, the faster it will get saturated. Focus on doing very difficult work that few people can reach (why do you think surgeons command high compensation?).

    6. The media gets a lot of things wrong. Always keep that in mind. If they say something negative or positive about your industry, competitor or etc -- do not take it as fact.

    7. Google Adwords is a great way to test your business idea, but it really depends on your business.

    8. People won't care about your business as much as you. Don't let it always be the main topic of your conversations.

    submitted by /u/truthmarket
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    UK Dropshippers - what is your average delivery time from China to the UK using ePacket?

    Posted: 03 Feb 2018 12:58 AM PST

    I just did a test order with one of my suppliers using ePacket, China to the UK, and the item arrived in under 7 days!

    I was under the impression to the UK it was usually 20-40 days as that is what most advertise. Has it got quicker or is this exceptionally fast?

    submitted by /u/bloomin-eck
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    Is Amazon FBA / dropshipping saturated?

    Posted: 03 Feb 2018 05:17 AM PST

    I'm watching some people on youtube that made fortune of amazon FBA and dropshipping, they are offering various teaching programs and such (and probably living off affiliate marketing), but they all seem so energetic and full of lies and I can't help myself but to doubt them.

    Anyone in this area and could share their opinion on how saturated these business are?

    submitted by /u/Sabotazas
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    How many times have you failed?

    Posted: 02 Feb 2018 10:15 PM PST

    Many masters acknowledge failure as a requisite on the path to greatness.

    We don't often see the "behind the scenes" of anyone who appears to be an "overnight" success.

    How many times have you failed to the point of throwing your hands up to the sky in desperation? With the metaphorical tank on empty financially, mentally, and emotionally?

    It seems this is a "darkest before the dawn" thing with many famous entrepenuaers that pushes them into the "ah-ha" moment.

    Curious about any personal inspirational stories.

    Specifically also curious about ages.

    I've devoted my life to my career. I'm 31 with no wife or kids and still on the brink of my breakthrough.

    submitted by /u/halloweencandy69
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    World Champion Dance Company Owner Talks About How She Consistently Gets Her Students To Come Back

    Posted: 03 Feb 2018 09:26 AM PST

    This is a video clip of a podcast episode she recorded. She talks about what she does after a student comes to an initial class, to motivate them to continue coming back.

    submitted by /u/slimwheels00
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    My biggest tip to have more ideas

    Posted: 03 Feb 2018 06:06 AM PST

    I read something about reticular activating system the other day. Basically it says that just by thinking positively and clearly about want you want to achieve, your brain becomes more creative and you get fresh ideas to reach your goal.

    Example : you want to lose weight and right now you weight 100kg. You have to tell yourself,"on the 10th June, I'll weight 90kg".

    Then you will start to visualise yourself weighing 10kg less and your brain will start to come up with fresh and small ideas to implement. Like finding good fitness sources. Joining fitness subreddit, buying healthier things etc

    And although I'm new to this , I feel like it works. When I wake up , I tell myself that I'm a successful entrepreneur. Although I'm still working on my business plan, I try to put my mind in that mindset and I become a better problem solver.

    I was thinking about the cheapest place to plan a beauty event where people could talk about their hair but also eat. I was thinking about going to a bar but it would not be the best place to touch each other hair and get advice. Then I thought about a hair salon but it wasn't the best place either to eat.

    And today, I was watching a couple of videos about how to become successful, confident etc and all of the sudden I thought about renting a flat with airbnb to make the event. I need to calculate if it's really cheaper but i really want to create an intimate atmosphere so renting a flat would work better.

    That's just an example and really, I'm sure we can achieve anything simply by training our minds.

    I reached my fitness goals this way. My body was weak but all I had to do was training my mind. Visualise how I would look after a year into fitness. How I would look when I will gain x kg of muscle. Tell myself that I was strong and. I just needed to be consistent and create good habits.Today I have to body of my dream.

    submitted by /u/Mithy-93
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    I don't know how to proceed.

    Posted: 03 Feb 2018 10:34 AM PST

    Hey all. I'm at a point in my life right now that I'm feeling a little lost on how to move forward.

    I'm 35, have a successful technical sales job, 2 kids and a wife that is running her own design business.

    I can't stand my job. It is completely soul sucking and I'm miserable every day. I have the same dream of everyone here that I want to build something meaningful with my life that would allow me more time to do the things I want to do without having to rely on someone else to give me a paycheck.

    I just don't know what to do. My job is easily 60 hours a week. I've read the localcasestudy posts and blogs, and the idea of a service company sounds great. But I don't think I can start anything because of my hours. I can't run a window cleaning business or maid service at 7pm.

    Tons of posts are about dropshipping/t-shirts, but I don't want to depend on another service. FBA hurt a lot of people last year when Amazon changed their commission structure. It could easily happen again.

    I've done all of the little "find your passion" or "idea checklist" exercises and just don't come up with anything.

    My wife loves to work, but her business is only pulling in about enough to pay for daycare. In an ideal world I would be a stay at home dad and her business would support us. She gets really frustrated when I bring that up because she says she likes not being the one that is depended on for finances.

    I get more frustrated with myself every day because I'm not moving forward in the right direction. I don't know which direction I'm moving in at all to be honest.

    submitted by /u/ItsAJackal21
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    Anyone else take screen shots on their phone or make hundreds of notes to “save” info?

    Posted: 02 Feb 2018 05:51 PM PST

    I'm clearing out my phone and there's hundreds of photos and notes that I need to manage in some way.

    Is there a practical way to save these notes so that I can reference them when needed? Some are for my business, some are ad swipes to reference later, some are hilarious convos, others are things to check out later (products, books, music) and they just disappear into a cluttered mess of screen shots or notes.

    What do you smart folk do to avoid this mess?

    submitted by /u/TheOutlier1
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    I want a mentor??

    Posted: 03 Feb 2018 01:34 PM PST

    Whatsup folks,

    in the same boat as the rest of us here. I'm trying to start my first ecommerce business and am actively seeking help.

    Maybe your an expert, maybe your uncle vinny made some money back in the 90's with the interwebz, really just looking for someone who has experience in the space (I'm going to be selling e-courses) and is interested in helping.

    PS: if you're good I would be HAPPY to pay for your time.

    PPS: Also am going to be starting a facebook entrepreneurs group, if you're interested drop me a pm

    submitted by /u/ultisquatter
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    Amazon FBA, Shopify, Social Media or Other,

    Posted: 03 Feb 2018 01:31 PM PST

    Hey there! I'm a 17 year old from Canada looking to start making some money (outside of my part time job) and start to put money aside for university as it is coming up sooner than expected. I've always dreamed of working on my own and learning how to make money by myself but have never taken the first step. Today I want to change that (it's snowy and I have nothing better to do so I have no excuses to be lazy).

    TD:LR My question for everyone here is what is the best type of service or online shop that would be best for a total beginner like me to start. Basically I've heard of shopify, Amazon FBA and social media influencers and website designers for way to create my own service and or website. Out of those (or anything else you might like to suggest) which would you suggest for a person with 0 experience thus far?

    submitted by /u/dumgum17
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    Digital Travel Magazine Startup

    Posted: 03 Feb 2018 01:22 PM PST

    The ideas behind the intended purpose of this startup is to (1) offer a medium for the growing number of travel writers, photographers, and videographers, (2) allow readers the opportunity to gain a realistic perspective of featured destinations, (3) encourage readers to drive the content through submissions and community interaction.

    Some questions I need to have answered include: Do you prefer reading print, web-based, or app-based magazines? In your opinion, what are the most important features of each platform?

    Feedback Requested: General - Do you currently subscribe (paid or free) to any travel magazines? Do you prefer print, digital, or both? What style of articles (budget, luxury/dream vacation, off-the-beaten-path destinations, travelers' stories, etc.) would peak your interest enough to subscribe to a magazine?

    Digital Platform - What features do you feel you are missing out on or wish you had for reading a digital magazine? Which are the best/favorite platforms or examples?

    *This idea is in the initial development stage. I have an idea of an internal start-up team structure, and am now focusing on narrowing the vision/scope of the magazine.

    submitted by /u/ejenks88
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    Relationship w/Manufacturers

    Posted: 03 Feb 2018 12:50 PM PST

    Hey guys I'm trying to explore the area of building products. Starting with prototype to end product. I see OEMs are the go to businesses BUT: do they manufacture parts for you and you assemble them? Or they ship the finished products?

    Please, respond if you have been or you are still doing business with original equipment manufacturers in US or elsewhere

    submitted by /u/Gio_13
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    New Podcast: The Mentors featuring stories from founders spanning tech, comedy and dance

    Posted: 03 Feb 2018 08:08 AM PST

    The Mentors aims to feature founders that you normally wouldn't hear about, and dives deep into how they made it past the difficult early days of their ventures. iTunes, Stitcher

    Thank you r/entrepreneur!

    submitted by /u/seregarev
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    Booking software

    Posted: 03 Feb 2018 11:02 AM PST

    I'm from the UK and I run a after school club for children. Currently everything in terms of parents of booking is done by texting me. This has been fine but I'm just thinking ahead incase I lose my phone. I also manually write who came to the club and then transfer that to an invoice. This is very time consuming and does lead to human errors. What I would like is for parents to choose two time slots in which they are booking and pay for it before hand?

    submitted by /u/X_Heisenberg87_X
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    How do I find out what retailers would be willing to pay for my product?

    Posted: 03 Feb 2018 10:44 AM PST

    Basically we are the authorized retailer for a product, which we intend to get into stores. How would you go about finding out how much (maximum heh) store owners would be willing to pay? We are talking about smaller businesses.

    submitted by /u/iaf251
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    Programmer here- How to go about seeking a partner with domain experience/logistical know-how?

    Posted: 03 Feb 2018 10:29 AM PST

    I have a idea for an online business in an industry/domain I have little practical knowledge of. It's also not an industry where it makes sense that I could "teach" what I need to know to myself.

    I want to approach a current business owner in this industry with my idea and vet the feasibility of it, and also would like to work with this person to tweak it so it makes sense logistically; this person would be invaluable in the sense of knowing the details about suppliers, costs, etc.

    In turn of course I would take care of building and executing the idea online.

    Unfortunately I don't personally know anyone in this industry, so was thinking of looking around in my hometown subreddits to see if I could find someone that way. Am a little concerned about divulging too much information and having someone just run off with the idea and get it outsourced or something.

    Should I approach with an NDA? What would be a formal attractive offer here? A percentage of equity? I know nothing about business, I'm just a techie.

    Help.

    submitted by /u/w4nd3rlu5t
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    Using google advertising for an amazon affiliate store? Does the margin cut it?

    Posted: 03 Feb 2018 10:09 AM PST

    How to promote my product?

    Posted: 03 Feb 2018 09:54 AM PST

    Hello,

    I'm launching a new product (a panel for ships etc. basically) and I'm having trouble promoting/advertising. How would I get the right audience to my site and learn about my product?

    I have got a competitor who makes similar products (http://www.selco.com/products/alarm-monitoring/m3000-analogue-alarm-monitor/). The main advantage they have over me is certifications. I haven't got my unit certified by anyone (because it would cost me TONS and I don't want to risk throwing that much money on a product that's currently not had more than a single sale). The single sale came from eBay. I put the product up on eBay (with bad description & pictures) and someone bought it. Now I've made a website: https://neatgr.cf/ where I've uploaded much better images and detailed descriptions, and allow buyers to order the item and contact the company if they need to.

    I'm currently asking for feedback/where to start reaching out for buyers. Should I seek individuals or resellers?

    submitted by /u/Coto_16
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    Instapage or Wix for landing pages?

    Posted: 03 Feb 2018 01:38 AM PST

    Which solution do you use for landing pages? Instapage looks great but is really expensive. Wix seems to have more or less similar functionalities and is much cheaper. Can you plug either as a subdomain to another site?

    submitted by /u/ElSupaToto
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    Do you really own your domain Name?

    Posted: 03 Feb 2018 12:17 PM PST

    There is a practise that happens that all entrepreneurs starting out need to be aware of.

    I have had over 15 years experience in the domain industry.

    https://www.linkedin.com/feed/update/urn:li:activity:6365089802232135680

    Hope this helps

    submitted by /u/traolcoladis
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