Accomplishments and Lesson Learned Friday! - (March 30, 2018) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (March 30, 2018)
- I have a pub trivia company. I was contacted by a deaf individual about attending, and they seemed to think its my/ the venues responsibility to hire a interpreter for them. What are my responsibilities in this area?
- College freshman looking to increase financial literacy
- I’m the all-talk entrepreneur, how can I fix myself?
- Steal My Idea: Build Appliances That Combat Planned Obsolescence
- Restarting, taking over a salon with an already bad image.
- We hit a major milestone at DREAM and now I'm terrified about plateauing
- Where can i go to learn about tax stuff?
- Obsessed with log cabins. Can I monetize it?
- Looking for the best price on custom decal stickers
- I'm 16 and wanting to start a business but not entirely sure what I should do
- Trying to setup a business while "working"
- How does one become business savy?
- Have any of you ever emptied your cup and started over?
- Does anyone have advice on finding private label manufacturers?
- Looking for advice on my situation
- I've got a quick question about landing pages.
- Ecommerce sellers above 100k gross, how do you source ?
- Looking to start a furniture-making company selling online. Any suggestion for delivery of such large items?
- A place to get matched with a highly vetted mentor
- What are the pre-requisite in terms of them accepting Kickstarter and Indiegogo accepting products?
- If I sell on Ebay and Amazon, does that mean I'm an Entrepreneur?
- Critique my webshop
- Having business partners? Yay or Nay?
| Accomplishments and Lesson Learned Friday! - (March 30, 2018) Posted: 30 Mar 2018 06:06 AM PDT 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. [link] [comments]  |
| Posted: 30 Mar 2018 09:39 AM PDT Hey guys, as the title says, I was recently contacted by a deaf individual about attending one of our nights. in their first message to me they asked about hiring an interpreter for them. There is no audio portion to the trivia (like a name that tune) but the questions are asked out loud, and answers are written down. I said that if they wanted to attend, I'd happily have questions printed out for them for each round, and have them seated near a the trivia host so they can at least contextually see whats happening, and that they shouldn't need an interpreter. I'm doing my best to keep them informed, and keep it so the trivia would still be fair for the 100 other people in attendance. After they purchased their ticket, they said they're still looking at interpreters, and from their initial statement i'd imagine they feel as though we are supposed to pay for it. Our tickets are $10 per person, and that goes to having $300 in prizes, plus the cost of the host, plus basic operational costs... it all adds up. I looked into what an interpreter costs, and it could cost upwards of $400 for the duration of the event, which would shrivel our profits up to nothing - IF the event sells out. I did offer them an additional ticket for a friend or the interpreter, if they choose to hire one, but I want to be sure that I can't really be expected to have to pay for this service; right? This is in Canada btw. [link] [comments]  |
| College freshman looking to increase financial literacy Posted: 30 Mar 2018 06:50 AM PDT Hey there. I'm a freshman in university, and I will soon be taking my first accounting class. As part of my Macroeconomics class, we had to read many WSJ articles. This paired with my attendance at some business club meetings has sparked my interest in developing some financial literacy. For instance, I don't understand WACC, and I don't understand the significance of other financial statistics. This summer I would like to prep myself for business school and learn more about the business world. Here are my questions: What books should I read to increase literacy? What things can I do on a daily basis to help grow my understanding? Thanks [link] [comments]  |
| I’m the all-talk entrepreneur, how can I fix myself? Posted: 29 Mar 2018 08:09 PM PDT Age 25, have a background in gaming/ esports, I have a bachelors degree in electrical engineering (regular 3.0 gpa), I got into and have been making money playing poker for last couple years, I accepted a high school teaching job last year and recently quit due to stress levels and pay. I want more income than playing poker and also less stressful than having losing days. I constantly come up with ideas but rarely execute and bring them to reality. Is there any suggestions you guys have that can help me execute and create something that at least generates some income? I feel like I'm stupid for not being able to start, nevertheless expand a business. I've learned a decent bit about Shopify/dropshipping, building yourself as a brand, but I haven't made a dime and it's honestly embarrassing. Suggestions would really be appreciated. [link] [comments]  |
| Steal My Idea: Build Appliances That Combat Planned Obsolescence Posted: 30 Mar 2018 06:41 AM PDT I've been a long time lurker, so this is my first time signing up and posting. I've been debating with my coworkers for a while on this idea and if its possible. Most appliances these days are designed around planned obsolescence and if not, made so cheaply that it breaks after a few years. Obviously the reasoning is that these corporations are trying to maximize their profits. But what if you start a company (or non-profit) that's goal isn't necessary to maximize profit but simply to pay your bills and give your employees a fair wage. Imagine you start a company that built a microwave around repairability, longevity and simplicity. A microwave that only has two knobs; one for power and one for the timer. You can design the microwave for easy repair and publish the repair guides online. You also give a 20 year warranty or least sell parts. Since microwave technology isn't new technology, you shouldn't need to spend a lot on R&D. Also you wouldn't redesign this microwave over and over like companies do now. Maybe the most that would change is the external (allowing customers to swap externals like black, chrome, stainless steel, etc). Most of the cost should be in the manufacturing of the product. Now, you're probably asking assuming this works, you will run out of customers who willing to buy your microwave assuming your microwave last 20 years. As you establish your company selling microwaves, you can branch into other appliances. Build a simple toaster. Build a simple washer and dryer. Build them to last 20 years years as well. If the company built quality simple appliances, over time, it will build brand loyalty and you can simply provide an alternative to the current batch of high tech, planned obsolescence appliances. Maybe start off with a Kickstarter campaign selling this simple microwave. [link] [comments]  |
| Restarting, taking over a salon with an already bad image. Posted: 30 Mar 2018 05:55 AM PDT Sorry for the long read, but without context it would sound like a dumb idea~ For some background information. My ice cream shop in Florida, broke even for the year and I couldn't continue due to funds and never realizing it gets cold as hell during the winter months (couldn't sell), lesson learned... Didnt want to push it with so little funds to spare, after being married. Wife got an opportunity to take over a salon in Japan and we weighed the risks. Wifes moms friend (who ill call Owner) offered a hair salon in Tokyo, offer plane tickets (Really did pay for them, first test passed.) We would have owners apartment and the hair salon would already be set up and salary for 3 months support, we saw the numbers (we knew salon income is up/down) we knew it relies on repeating customers and our skills to bring in income. We had nothing to lose, I mean do it or go home, there is no lose, but time... So now its been a 6 weeks, April will be our first month solo, (Keeping all the money, pay rents, etc... We won't sign over any papers, nor risk any legal stuff.) So far the owner has broke 75% of his promises. No salary, we use the salons income for living expenses, terrible unknown products, no repeaters came back from the months before, salon and apartment was disgusting, and the most annoying the owner plays games. Owner isn't at our salon, but his owner hours away... we do everything ourselves. He is also in debt. all the time, we paid all the late bills and so on for the salon. (None of this is our pocket, just salon income.) Since then we cleaned up the salon and apartment, found a new distrubutor for high quality products, started a nail section, as I do nails, started using our own credit system with our bank accounts, etc. (insert other positive things.) upgrading as we make money. Owner promised to cover cost we can't pay at the end of the month, if we are under, as messed up as it sounds, I want to say we're under regardless by a few hundred, I need to test, then again he promised salary for my wife and never paid. We will also find and meet the building owner so we can do bank transfer directly, not through the owner, we don't trust him. Owner will also pay for all bills and late stuff before March as well. Now my question, the salon had a terrible image from the start. There are 10 other salons within a few km raduis, yet we still do $4000 which is exactly what the salon made in Feb. and Mar. it breaks even business and our personal life and bills, yet no repeaters, Jan. reported $1000. Does anyone have any advice for pulling in customers with a serious tight budget? We can't take any personal pocket risk because the kind of guy the ower is. Like a surprise late payment from the building owner (Surprise! $10000.) Not yet. We put up a website, subdomain on Weebly, (I did the best I could until we can afford a domain, made use of SEO, Google analytic/webmaster, claiming on Google business/maps), online booking system, instagram, screw FB but I did it anyway, new point cards, passing out flyers and posting them, changing signs and small things around the salon weekly. I just need more ideas and wonder if any of you reeditors have something to share? I am using all the experience I had from my ice cream business, but this is Japan and its hair and nails, the basics are there, but I don't know what I can do next... Worst case scenario, owner lies about his last promise of supporting pay, we just up and out, since there is no paperwork or contracts holding us... We can screw him easily as he can screw us. [link] [comments]  |
| We hit a major milestone at DREAM and now I'm terrified about plateauing Posted: 30 Mar 2018 09:36 AM PDT First and foremost thanks to everyone who reached out to me when I showcased my brand DREAM, the streetwear brand that is focused on funding mental illness research & mental health awareness. This month we were able to hit enough sales to donate $500 to our partners and fund a mental illness research project. However, ever since we hit the milestone I have been nervous about plateauing and yesterday I had a pretty low day in sales. I'm not sure what to do our how to act. I suffer with major anxiety and depression (which is quite ironic because that is what I am trying to fight for) and sometimes this takes a major toll on me. I'm open to any advice about my brand, website, offering etc. and what I can do to keep moving forward. https://dreamsruleme.com/collections/all [link] [comments]  |
| Where can i go to learn about tax stuff? Posted: 30 Mar 2018 07:01 AM PDT I know nothing and have lots of questions. How do I learn what my tax obligations are? Or are there people that offer services to help you with this? [link] [comments]  |
| Obsessed with log cabins. Can I monetize it? Posted: 30 Mar 2018 08:28 AM PDT I find myself browsing r/cabinporn and r/cozyplaces ALL the time. I grew up going to a family cabin and want my own when the time is right. It'll probably be 5-7 years before I own one. In the mean time, is there anything I could do to learn how to turn this obsession into something more? Design books? Woodworking? Professional reviews? Any thoughts on how I can turn this into a side business one day? I'm sure this is an unorthodox request in comparison to other posts. However, I figured this would be the place for advice. [link] [comments]  |
| Looking for the best price on custom decal stickers Posted: 30 Mar 2018 10:33 AM PDT There are a ton of custom sticker website out there. Can anyone reccomend one for smaller quantities, around 100? [link] [comments]  |
| I'm 16 and wanting to start a business but not entirely sure what I should do Posted: 30 Mar 2018 10:29 AM PDT Right now I'm 16 and in 11th grade, I know that a 9-5 working for someone else isn't what I want to do and I've been doing research on different options I might have. The things I've thought about is doing social media marketing and starting with local business since I've noticed they don't use social media effectively if at all. I've heard about dropshipping with shopify but that doesn't seem like a long term thing I could do. I've seen how my parents are like with their jobs (mainly my dad) and I would rather work on my own time and be financially free. My parents have said they would support me in this (Probably not financially) as long as I am legally set up but I just need some sort of general direction so I can narrow it down, any replies are welcome. [link] [comments]  |
| Trying to setup a business while "working" Posted: 30 Mar 2018 01:42 AM PDT Hey all, I am currently employed but my position is not the most "challenging." That's to say, this is the third day where I haven't been given an assignment. There are no scheduled projects and no recurring work. Basically, I am bored during office hours from 8-5 in an environment where nobody seems to care what I'm doing as long as I'm sitting in front of my computer. Because of that, and because of my less-than-fantastic pay I was thinking about starting a little side business during "work hours". Ethical difficulties aside, I am struggling with the idea of figuring out what to do. All skills I had are rusty because of this current job. I am a fairly good writer, so I was thinking about starting a blog or two. However, I'm not sure if there's still money in doing so. On top of that, I don't think that the market where I live is big enough to make it interesting. Is there still potential in (affiliate) blogs? Would people hesitate to take "advice" from someone abroad? I guess this is more of a ramble than a real post for advice, but any tips for setting up some recurring income while bored to death at my current job are welcome. [link] [comments]  |
| How does one become business savy? Posted: 30 Mar 2018 06:32 AM PDT Not a business owner myself, but wondering about this. I know a guy who is from Turkey, mid-50s. He moved from Turkey to the UK about 15 years ago I think. I am not friends with him, he just told me his story one time. Anyway, he told me that after being in the army in turkey, which probably made him pretty hard-nosed / mentally tough, he moved to the UK, sheffield specifically, and started a factory job. He worked in this factory job for 4-5 years, and then once he had some savings, he invested them. Now he owns three nurseries, a popular turkish restuarant, a towel company that sells egyptian cotton towels, and lots of property around the city of Sheffield. He is clearly well-off. The way he described it made it sound so easy. But I have no doubt that he is a smart investor, given that he did all this. I never asked him if he had studied business or anything, but he struck me as one of those guys who just had the balls and the savyness to put his money into these things and manage each business well without an education. I want to do something like this eventually. How did he do it? does it take a certain type of person to do this. I still don't feel comfortable with how starting a business works, is it really just easy? Edit: Im just an unemployed guy, I'm no entrepreneur but want to be one day [link] [comments]  |
| Have any of you ever emptied your cup and started over? Posted: 30 Mar 2018 01:37 AM PDT Have any of you launched your business and then realized there was still so much you needed to learn. Did you " empty your cup", put your business on hold and found someone knowledgeable you could work under? Did you come back to your business and then use that new knowledge to turn it into a success? [link] [comments]  |
| Does anyone have advice on finding private label manufacturers? Posted: 30 Mar 2018 05:14 AM PDT I'm trying to switch from selling other people's products on Amazon, which we do well with currently. But, we want to get better margins and build our own brands. Does anyone have experience in private labeling? I imagine no matter what the niche is, the advice probably carries over. I've been mostly reading some online guides like this, this, and this. But, I know those articles are usually just SEO spin and copying each other basically. I was wondering if anyone here had some real hands on advice they could give. I appreciate it y'all! [link] [comments]  |
| Looking for advice on my situation Posted: 30 Mar 2018 06:19 AM PDT Let me start by saying that I'm not even sure what kind of answer I'm looking for, but after reading a lot around this subreddit I decided to "share my story" and ask for advice. One year ago, while I was working on my master thesis, when I got approached by an engineer that saw a presentation from a project I did with some colleagues. He invited us for a meeting to talk about plans for creating a startup. The goal was for the team to work on some projects, while we were finishing our thesis, and grow the company into a position where we could start paying salaries and contracting more people as needed. We would all be founders and he would get the larger share since he would also invest some money. I was thrilled, since I always wanted to create my own company, where I have a say in the projects we work on and the environment within the company. For me, this was a no-brainer, an opportunity to follow a dream I wasn't sure how to follow before. However, after some months, I was the only one of my colleagues still in the company, since they all left searching for job opportunities. This meant I was the sole developer and the only one working on the prototype. That being said I also did a lot more, like market research, proposal writing, etc. I always try to do everything I can and if I don't know how to do something, I try to learn how to do it. This is more or less the situation I'm in right now. The company has yet to really take off, since none of our funding proposals has been accepted. I'm feeling really lost right now and I don't have a clear view of what is ahead or what I or we, as a company, should be doing/going for. I also have yet to finish my dissertation since I had some problems with my supervisor and lost focus after starting to work on developing the company. And unfortunately, my partner/co-founder seems to be losing his motivation. Add to that the fact that I'm sick of being broke and living at my parent's costs and I'm in a really precarious situation. I'm starting to doubt my choices, which is something I hate, and my head is all over the place, so much so that I haven't been able to work properly lately. [link] [comments]  |
| I've got a quick question about landing pages. Posted: 30 Mar 2018 10:25 AM PDT So, my agency is small right now, and offers two major services: web design and SEO. We've got a few clients and are looking to scale. I want to remove the basic short copy from my website, and add long, detailed copy, because that's what sells. Since the two services are inherently different things, does it make sense to have two separate landing pages? Or even two different domains? I'm not sure which direction to take, so any advice would be welcome. [link] [comments]  |
| Ecommerce sellers above 100k gross, how do you source ? Posted: 30 Mar 2018 01:31 PM PDT |
| Posted: 30 Mar 2018 09:43 AM PDT For the immediate future, my largest market would be 6 hours by car with smaller markets at about 3-hour distances. Should I do deliveries myself or is there a good shipping method? [link] [comments]  |
| A place to get matched with a highly vetted mentor Posted: 30 Mar 2018 09:40 AM PDT I am so excited to share with you what my team and I have been working on for the last two years... I really hope you guys get use out of it and find it as a solution. We recently were trending on Reddit (Before) / Producthunt and looking for more feedback on what we can fix and do better to mentor the world! (I will be checking here regularly you can also tweet at me!) @jacobahandley [link] [comments]  |
| What are the pre-requisite in terms of them accepting Kickstarter and Indiegogo accepting products? Posted: 30 Mar 2018 01:15 PM PDT I'm talking about (production volume, company tax id, intent or commitment to produce?)? - Do they need an exact launch date? What happens if we delay further or cancel altogether? Do they penalize us? Is there a minimum quantity of product units we should be committing to, to sell the product? [link] [comments]  |
| If I sell on Ebay and Amazon, does that mean I'm an Entrepreneur? Posted: 30 Mar 2018 12:55 PM PDT Hey guys. I just started selling on Ebay and Amazon, and I was wondering if that counts as an Entrepreneur? Thanks! [link] [comments]  |
| Posted: 30 Mar 2018 12:50 PM PDT Hey! I started this brand a few weeks back, selling fun and unique beanies to replace all of the grey and dull ones that are too common! Would appreciate any and all feedback! Cheers! [link] [comments]  |
| Having business partners? Yay or Nay? Posted: 30 Mar 2018 12:30 PM PDT Coming off the back of a successful business which i sold, i have been asked to partner up on a new Ecom venture. But a part of me is stuck with a solopreneur mindset. Anyone got any experiences with business partnerships? The thing they would be bringing to the table is they are chinese and live in the UK so they can be my perfect inbetween with getting wholesale deals in china etc Also they would be putting in the initial capital setting up a warehouse here and office... While i'm more the creative mind, implementing and marketing guy. Just in two minds at the moment having been successful as a solopreneur if it would make any sense partnering up... or just keep going at it alone. Any one care to chip in on their experiences. [link] [comments]  |
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