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    Monday, April 30, 2018

    NooB Monday! - (April 30, 2018) Entrepreneur

    NooB Monday! - (April 30, 2018) Entrepreneur


    NooB Monday! - (April 30, 2018)

    Posted: 30 Apr 2018 06:07 AM PDT

    Please use this thread to ask any newbie questions.

    We do this to not overflow the subreddit with newbie questions, so please try to limit the questions to this weekly thread.

    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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    my instagram is actually growing

    Posted: 30 Apr 2018 11:56 AM PDT

    i posted the insta algorithm video in this reddit earlier and said i would update u guys so yeah im gaining 5-10 followers a day as of now, my likes per post are increasing, and im receiving more DMs.

    just a little background on my account: its for my business; ive had it for a couple months and i post daily.

    if any of u have tried out those tips from the video on ur insta lmk how its going for u

    submitted by /u/MediocreAtEvything
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    My mom makes a bomb ass salsa, we’re trying to start a business idk how though?

    Posted: 29 Apr 2018 06:43 PM PDT

    I understand we need to get some type of permits or something for calories and the ingredients etc. But I'd like to know if someone is done something similar and what steps they took. We're starting just word of mouth between friends, family and aquntaices but I'd like to eventually distribute online be it through our own store or amazon or something, or even having it at farmers markets and stuff

    Edit: thank you guys for the responses and advice I don't expect this to be easy but it'll definitely be a learning experience where worst case scenario I'll have ultimitaed supply of salsa for myself 😂. If this works I'll send you all some for free

    Edit 2: Texas, Dallas area

    Edit 3: thank you guys again for the amazing responses very informative. Salsa will seem to be harder in Texas hell it was illegal to sell homemade stuff before 2011 😷. But my mom also makes a very great if not better idk how to explain it it's like a dip made of birds beak Chili pepper and sunflowers seeds and other good stuff. It's dry and obviously non liquid I will call my local health department to see what's up

    submitted by /u/mrBiscuit97
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    Anyone else feel they missed the easiest/most accessible wave of all time (2007-2018?)

    Posted: 30 Apr 2018 10:52 AM PDT

    Not one for creating excuses, but I can't help but kick myself in the ass for not participating in the internet boom until now. So many million/billion dollar industries arose in this time period and because I had such a consumer focused mindset I missed out greatly.

    From ecommerce/social media marketing/ microtransaction games/subscription services/youtube/app store/ dropshipping/instagram marketing/ kindle book publishing/cryptocurrency and probably more , all these blue oceans where born and realistically weren't that difficult to learn. Now each one of these niches is saturated due to the relatively low barriers of entry.

    looking toward the future and current trends, The majority of problems that need to be solved require significant investment and deep education to even begin. This of course presents massive opportunity for those capable and will likely spawn the first trillion dollar company. For the rest of us though I think selling shovels will be the best bet. Amazon using drones? I'm doing drone repair and monitoring, Robots maids? Robot repair and upgrades.

    Perhaps i'm too critical, But I feel the past 10-12 years where the greatest chance in human history for anyone to help millions without needing significant investment. That ship has sailed.

    submitted by /u/Noxzeno
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    Potential business opportunity in IVF due to high number of cases of male infertility

    Posted: 30 Apr 2018 12:13 PM PDT

    Some key statistics before I go into a personal example:

    Male infertility is a factor in 30 – 50% percent of couples trying to get pregnant a second time

    Nearly 50% of men dealing with infertility have low sperm counts as the primary factor. This condition is considered to be the most common cause of infertility

    https://www.azuravascularcare.com/infovaricocele/male-infertility-statistics/

    My wife and I are doing IVF due to my male infertility issues. We're in our mid to late 30s, and it's been taxing for both of us, especially my wife. For the first retrieval they extracted 15 eggs from her and for this recent one it was 12 eggs. Both times we we're left with zero viable blastocysts. With each retrieval she needs to go through a normal cycle before we can try all over again, which is 60 days between each attempt. I won't even go into the slurry of medications she takes and injects.

    Looking at the hunger games thread, which lists the experiences of other Redditors, it seems that our case isn't rare:

    https://www.reddit.com/r/infertility/comments/6v3kyz/lpt_first_time_ivf_ladies_get_emotionally_ready/

    To top it off, the PGS chromosomal testing costs $4K EACH time. We can freeze them, thaw the bulk, biospy, send off, and refreeze, but we don't even have enough day five blastocysts to make it worth it yet.

    This all seems somewhat wasteful for me. With how many cases of IVF stem from male infertility, it seems like it's ideal to clone these eggs and then continue to inject them with various sperm till one is successful. Offering this would be a HUGE selling point for any new IVF clinic. There seems to be a lack of vision here and it's time for someone to disrupt the marketplace.

    Ten years ago they created a human embryo from a skin cell:

    https://www.newscientist.com/article/dn13198-first-cloned-human-embryo-created-from-skin-cell/

    Five years ago they cloned an entire EMBRYO:

    https://www.npr.org/sections/health-shots/2013/05/15/184223277/how-scientists-cloned-human-embryos

    I'm willing to bet we've been able to clone an egg for just as long.

    TL;DR

    The culture at IVF clinics revolves around women, despite men often being the source of the problem. IVF is a painful, time-consuming, costly process, and often times it's the male's fertility that's the sole issue.

    It would be great to be able to clone eggs from one retrieval and inject those clones with sperm instead of having women repeatedly go through the same painful demoralizing stim/retrieval cycles over and over again. With how many cases of IVF stem from male infertility, it seems like it's ideal to clone these eggs and then continue to inject them with various sperm till enough are successful. Having a solution to this issue would be a HUGE selling point for any new IVF clinic.

    submitted by /u/akromyk
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    The alternative to the four-hour workweek mindset

    Posted: 30 Apr 2018 12:01 PM PDT

    https://techcrunch.com/2018/04/26/the-alternative-to-the-four-hour-work-week-mindset/

    What do you think? I agree that the mindset of craftsmanship is really important, but it can be hard to stay focused on building up expertise when the world is inundating you with easy "hacks" for success.

    I've never read "The 4-Hour Workweek" - is it worth a read?

    submitted by /u/HumansNet
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    Looking to turn a warehouse into a leisure pool/billard hall. Where do I start?

    Posted: 30 Apr 2018 11:55 AM PDT

    Looking to rent, lease or buy a space to make a pool hall. I would love to have. Byob concept. I don't need a kitchen but this would be extra revenue to sell sandwiches.

    Where do I possibly start??? I have found a building and good location.

    Do I need legal counseling to change the purpose of the building??

    Thanks

    submitted by /u/Lausanne
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    Anyone have experience being unemployed and starting their business with very limited capital?

    Posted: 30 Apr 2018 01:16 PM PDT

    Is going to the banks out of the idea? Say you know you will have foot traffic and you might get a sale or two a day. Is opening a business account from chase/wells fargo possible? Do they expect you to give them money, etc?

    Basically, the main motivation is to get out of unemployment and start being the boss.

    submitted by /u/toomanynames1998
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    How do we know what will sell without ending up with massive amounts of stock that wont?

    Posted: 30 Apr 2018 04:44 AM PDT

    Myself and my partner are looking to launch our business which is focused on selling premium ties/pocket squares and other accessories.

    We have reached a point where we are looking to have our goods manufactured and start selling - however with MoQs being at 50 usually and the need for variety in design and colors it will be a large outlay with no guarantee or ability to test what we can and can't sell. We have custom designs in mind but cannot obviously get product pictures with out them being already manufactured.

    Has anyone encountered/ dealt with this problem before, what is the best way forward?

    submitted by /u/2tnuocca
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    Business Cards with individual discount codes; where to get them made?

    Posted: 30 Apr 2018 11:50 AM PDT

    I was looking to bulk print up some business cards that have 1 time use discount codes, so they need to be a unique code on each card.

    where can i get this done? Vistaprint doesn't have this available and they're my primary printers. I'm having difficulty googling as it basically brings up coupon codes for other sites.

    Thanks

    submitted by /u/Twice_Knightley
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    Best online course for startup law

    Posted: 30 Apr 2018 08:40 AM PDT

    What is a board member? Shareholder? What do they do? What are their rights/responsibilities, etc?

    I want an online course that discusses this kind of stuff. Recommendations?

    submitted by /u/suspishus
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    My company's sales are trickling in, but the advertising ROI is just not there. Feeling overwhelmed and started to get burned out after spending 6 months on logistics. Could anyone suggest where I can turn to learn more about targeting/advertising?

    Posted: 30 Apr 2018 09:37 AM PDT

    My company makes DIY lip gloss kits https://diykitcreations.com , and with enough cash flow, we want to do other DIY kits. We launched and initially had a few family and friends buy as well as strangers who I just pitched the idea to in person through natural conversation. I don't want to say that the main product is a winner just yet, but of my non-personally related customers (strangers and ad conversions) I seem to be getting really positive feedback from some.

    We have about a 3% conversion rate from Google and just started with Facebook. It's not working well considering our margins and CPC. I know PPC is a learning and tweaking process, but I'm not sure where to steer. The logistics for this product take a long time and marketing it on top has swamped me.

    I did try playing with the price a little and just recently (today) went to offer free shipping, so I am waiting to see if that helps. But maybe it's just too much of a brand trust/awareness issue or maybe we would be better off focusing on Amazon targeting novelty/gift seekers.

    submitted by /u/UH2001
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    It's 2018. Do you still need a phone number on your website?

    Posted: 30 Apr 2018 06:13 AM PDT

    I've seen this question asked here and in other communities for entrepreneurs frequently and wanted to explore it in more detail.

    I have written a blog post with more information and references so if you want to check that out, here's the full post -https://medium.com/openphone/its-2018-do-i-need-a-phone-number-on-my-website-d65e36fd9543

    Full disclosure: I'm one of the founders of OpenPhone which is a phone system for small businesses.

    Here's the summary

    1 - Phone number on the website increases customer trust and conversion

    On average, a visitor spends 59 seconds on your site, they make an impression about whether or not they can trust you much sooner.

    2 - Convert visitors who need to talk to someone

    70% of mobile searchers have used click to call to connect with a business directly from the search engine results page (Google)

    60% of consumers mentioned communicating with businesses through phone in the last year (Drift)

    By putting a phone number on your website, you're converting these visitors into customers.

    3 - 89\% of consumers want to be able to message a business

    The vast majority of them prefer native text messaging (SMS) to using a specific messaging app (Twilio)

    By putting your phone number on the website and letting your customers know they can text you, not just call, you'll save time and make them happy. Happy customers spend more.

    4 - It's a universal way for people to reach you

    Unlike messengers, website live chat, and social media platforms, a phone number is the most universal channel. There's no need for the consumer to download an app or to be on your website. They can call or text message just like they normally would.

    Would love your feedback on this. Do you have a phone number on your website?

    submitted by /u/darynak
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    Want to buy Online businesses.

    Posted: 30 Apr 2018 11:39 AM PDT

    Looking to make a career change by. Anyone interested in selling their current online business to me?

    submitted by /u/scrupio
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    Quick question on dropship websites..

    Posted: 30 Apr 2018 10:54 AM PDT

    If someone is operating a dropship website for some items, do they need to purchase inventory upfront? Or are the items purchased from a distributor/dropshipper one at a time as customers purchase them from the shopify(etc) store?

    submitted by /u/cszlo
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    Would like to start a Physical Therapy Homecare company geared towards senior citizens.. but don't know how to start

    Posted: 30 Apr 2018 10:46 AM PDT

    Besides being registered with medicare.. what sort of marketing stuff do we need to do? Should we just go around gorilla marketing and handing out flyers, senior homes adult day cares? What else do we need?

    submitted by /u/ar1990
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    Am I too young?

    Posted: 30 Apr 2018 09:58 AM PDT

    I just want to know if I'm too young to start up my own company, I'm 19 and looking to set up my own sales and service company, I have all the knowledge, just wondering what you think

    submitted by /u/Toola12
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    Why do (some) Entrepreneurs have an air of bravado to them?

    Posted: 30 Apr 2018 01:32 PM PDT

    Just a random thought I had. I know it's hard work to be an Entrepreneur, and to gain success through hard work. I get that. However, I have noticed in some business owners that the way they act, or how them come off, is very "intimidating", or kind of "obnoxious"?

    I'll give you an example: I have a friend who has his own wholesale clothing company.

    He is always talking about his company, when I mention something that details where someone works, and he assumes that person owns that company and when I say "no he just works there" he looks down on it.

    Talks about how much he makes, in a braggy way.

    But, in general, other people who do have businesses just have that air of "I don't work a pathetic 9-5 like you slaves". LOL

    Can someone tell me why that is?!?

    submitted by /u/codeiqhq
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    How do you handle suitors for your company?

    Posted: 30 Apr 2018 01:27 PM PDT

    Hi all,

    If you have a suitor for your company, but he/she requires access to sensitive information that, if stolen and used against you, would effectively render you noncompetitive, how do you navigate it? It's information they need to know, but you can't divulge. Do you require a minimum offer and that is on the table until you turn it down? Assume an NDA is only worth the paper it's written on, because that's the truth, and that it wouldn't be signed by the suitor.

    Cheers!

    submitted by /u/gurdonbob
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    Business plan for an established company - hire someone or do it by myself?

    Posted: 30 Apr 2018 01:24 PM PDT

    I've been running a company for a half year with no business plan. Well, i do have one which is half completed...gave up on it when orders started to roll in.

    It's been fine so far to live day-by-day and hope the best, but I am at the point of thinking that if it will continue to be run with no business plan, the company won't grow bigger...or even collapse unexpectedly.

    Do you think I should hire someone to do the business plan for the company or should I do it by myself? If by myself, should I use some software (to make it look visual) or do it old school way on Word?

    Would really appreciate if you could share cons and pros.

    submitted by /u/borgarbui
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    Have you invested in commercial real estate/land that you then lease out?

    Posted: 30 Apr 2018 01:19 PM PDT

    What are some things you've learned the hard way that you wish you'd known earlier?

    submitted by /u/Navitimer
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    I created an AI SEO Chat Bot (Twitter/Web)

    Posted: 30 Apr 2018 01:14 PM PDT

    You can tweet or DM queries to @SEOChatBot

    Or via the web at https://www.searchcandy.uk/seo-chat-bot/

    The service is was made using Google's Dialogflow.

    I fed in 200+ base entities, mostly from an SEO glossary I had already built (via SD testing tool) and have been adding to and updating over the last few years, then added in lots of synonyms/questions/FAQs/answers and conversation paths.

    The bot is still in early development, it will fail if you ask it particularly complicated or weird questions.

    Data is collected along the way so I will be able to see where the bot fails.

    If you are already an advanced SEO the tool may not be useful it in its current form, it is more designed for beginners/people who want to learn SEO/business owners etc.

    Happy to answer any questions below.

    submitted by /u/searchcandy
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    Shopify is incapable of preventing fraud. Vendors are on their own against fraudulent customers.

    Posted: 30 Apr 2018 01:13 PM PDT

    I've been a customer with shopify for over 3 years with multiple stores through their service. In the past we have been hit with charge-backs and we do admit fault and take the loss for not vetting the orders properly. We corrected our fulfillment process and make sure anything that is even remotely flagged or suspicious is immediately cancelled.

    Recently, orders that are completely fine, no noticeable issue whatsoever, are being charge-backed with no reason at all. We try to defend the sale. Show email correspondence with the customer. Even call the customer after the fact to be hung up on. They are obviously committing fraud but no one at Shopify is willing to help. They act like they can't do a thing and wont escalate it. You have 0 protections with shopify and customers are beginning to understand this. The bank will always side with them as they have nothing to lose. It's one thing to lose the value on the product, but it's pouring salt in the wound to then charge us a fee for being the victim in this situation. Cant even block the customer from future purchases.

    submitted by /u/AppleNippleMonkey
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    Auto-DMing new followers on Instagram?

    Posted: 30 Apr 2018 01:13 PM PDT

    Is auto-DMing new followers a good idea? I see a lot of accounts doing it and it seems like it could be a really valuable way to drive engagement and maybe get sales from your most engaged followers, but I've seen some people say that it's spammy and gets you shadowbanned.

    If it is a good practice, what's the best way to do it? I see a few options:

    1) Invite new followers to follow my other accounts too.

    2) Invite them to go to a Leadpage and download a free ebook to get them on my mailing list

    3) Point them straight to a sales page

    4) Introduce myself and invite them to ask me questions, leading to more engagement and maybe sales down the road

    So two questions- should I auto-DM all new followers, and if so, what should I say?

    submitted by /u/MrJohnFawkes
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    Need feedback on Creators by Readory before launching

    Posted: 30 Apr 2018 07:10 AM PDT

    Hello,

    Link here!

    I'm releasing a big new feature for Readory it's called Creators by Readory.

    I plan to launch it either this week or next week on Producthunt, Hackernews and all that.

    Literally any ideas you have are greatly appreciated!

    Cheers,

    submitted by /u/hr_atlas
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    Starting a business and a non-profit

    Posted: 30 Apr 2018 01:04 PM PDT

    Hi all, I am a college student who started selling bandanas out of my backpack to pay for my travel expenses to music festivals. In the past year I have set my goals and expanded my ideas. I have decided to start a non-profit as an extension of my business/brand and would like to know if anyone has done something similar. I am currently in business school and would appreciate any advice I can get. Thank you in advance!

    submitted by /u/SlimjimO1
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