Accomplishments and Lesson Learned Friday! - (July 06, 2018) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (July 06, 2018)
- I replaced the phone number on my website with a "call back request" button, and this is what I learned after 3 months
- Online advertising for eBook / course
- 4 Content Formats For Each Step of the Customer Funnel
- Process of acquiring a company
- New to entrepreneurship and I need help with the simplest thing.
- Working All the Time and Not Doing "Fun" Things, what do I tell people?
- How do you guys retain information and actively integrate it into your lifestyles with books, podcasts ect?
- What are some up to date blogs like gaps.com?
- Significant other is looking to open up a dog cafe in the distant future. We are looking for any advice related to dog cafe start-ups or starting a new business in general.
- Is a business loan smart for me?
- How Entrepreneurs can make a Profit 3D Printing in 2018
- Should I wait to have samples to try sell? Or should I go in and wing it?
- Software Product Life Cycle Explained
- When to start marketing your product?
- Should I start an SEO Agency in 2018?
- Day trading vs running you own business.
- What's The Feasibility Of A Personalized Startup Tech Newsletter?
- How to go about a deal online [Who goes first?]
- Creating Ag Multi-Vendor Marketplace
- Filling out extra space in juice/coffee bar
- What tactics were most effective in the success of your business?
- Looking for businesses for sale
- Please help me decide on a color for my business site (B2B Service)
- Effective in-store pitches to get a store to stock your product?
Accomplishments and Lesson Learned Friday! - (July 06, 2018) Posted: 06 Jul 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: 06 Jul 2018 09:02 AM PDT Two months ago I made a post in r/Entrepreneur called "I replaced my Phone Number with a "Call Me Back" button on my Ecommerce Store. This was the result:" - linked here: https://www.reddit.com/r/Entrepreneur/comments/8brjty/i_replaced_my_phone_number_with_a_call_me_back/ over 1000 upvotes later I figured I should write a follow up to that piece. Full disclosure, one of the results of my first experiment with that button was to turn it into a Shopify App called Raven Callback Request (check the reviews to also see how our merchants are finding value through it) so that any merchant can do what I did with a few clicks of a button. Now we have almost 300 stores using the app and we've learned a tonne more about the button and how to use it better. Apart from the 5-10% increase in sales on my own store Nadeef Bidets, this is what I learned: The MAJOR Learning This sounds obvious to us now, but it wasn't obvious to us when we first started; Online Commerce is all about earning the trust BEFORE the customer makes a purchase. If you think about how the world participated in commerce before the internet, it was either all in person, or the less widely used phone catalogues. The in-person retail store experience inherently earned trust for the merchant. They had a store (meaning they had enough business to pay for rent and were a part of their neighbourhood community), they had inventory (so you know you can walk out with the product you want), and they had people there to serve (to provide customer service, pre-sale service, and answer questions/concerns, and to advise). Purchasing through catalogues over the phone also had a similar signal because in order to be listed in catalogues merchants had to have enough of a legit business to make the investments, send our mailers, etc. And when you called and spoke to someone, you knew there was someone who could help you right away. Enter the online sales channel; Now even a 12 year old could create a business online, dropshipping, etc, as a school project/joke/experiment, with no intention of fulfilling orders and make a sale. From the customers eyes, this is not the person they want to trust their business with if it isn't a well known brand. In other words, an online presences doesn't automatically earn trust. The first two issues about the physical retail store, and inventory on hand to touch and feel cannot be done online, but the 1-on-1 conversation with the merchant IS possible. We all carry phones with us, and it's even easier to be connected than it used to be. I found that when I had phone leads come in and I called back right away (earning trust in that they know we will be responsive to their needs) I had a surprisingly high conversion rate. We've had some merchants who literally have a 100% conversion rate to their Call Back Request leads. It just started blowing my mind how powerful the phone is as a sales channel, and how much it's being underestimated. Benefits outside of the clear value of the 1-on-1 conversation over the phone: Merchants started to experiment with the CTA on the button, and instead of just writing "call me back" they could experiment with "speak to the craftsman" or "book an appointment" or "request free consultation" - this was SUPER cool to discover because it showed the high utility possible with the button when you let creative merchants run with it Getting better feedback straight from the customer, asking how they found out about them, what they like/dislike about the product, and other valuable feedback. The best part is that the increase in sales from the feedback was far better than the direct conversions. For example I noticed so many people calling me had a question about hot/cold water mixers, and also about requesting installation. So I added both of those products and services to my business and sales went up even more (I can't attribute that to the button but I know it's there). Having the phone number saved and on file to do follow-ups if the customer hasn't bought yet Better in terms of just creating the pre-filled draft order over the phone and sending it to the customer to just simple confirm their purchase and credit card information Builds a great rapport with the customer, customers feel more valued when a merchant calls back immediately - Immediate actions goes a long way in earning that trust upfront before asking for the trust from a customer in the form of a purchase Telemarketers cold calling is now down to virtually ZERO 1. High value goods The button works really well for stores that sell expensive products. This makes sense because think about it for yourself. If you had to spend several hundred or even a few thousand dollars on an item, how comfortable would you be giving that amount of money to someone you've never heard of, or ever spoken to? Trust us such a key factor because the larger the order value, the bigger the commitment and trust you're asking from your customer without really giving anything in return. Usually in offline business it's the other way around, the business/store clerk/etc earns the trust in the community first, shows the buyer the inventory on the shelves, etc, and then people know they can trust them with their business. But now online, businesses are expecting customers to trust them first before lifting a finger. The Call Back Button fixes this. Examples of some high order value stores KILLING it with the Raven button (only from the past 2 months): *24/7 Gold - will sell six-figures worth of golf training equipment very soon through Raven *Divided.Style - sold five figures worth of pre-fabricated bathrooms *Wren&Glory - sold five figures worth of custom painted jackets *Shaggy Copper Skis - Went 3 for 3 selling Skis on the first day installing the app 2. Technical Products The button also works for technical products. My own product is technical, and so I knew this would be the case. Things that require installation, assembly or DIY components. Also products that are technology focused like mechanics parts and supplies, tools, etc. Examples of stores selling technical products: *Nadeef Bidets - My own store selling hand-held bidets which requires installation *West Coast Pals - Sells software licenses *Attachment Kings - Sells parts for construction equipment *Cloudponics - Sells DIY POTato grow tents *MeriMari - Sells furniture *Harps/Mini Pocket Bikes/ 3. Business 2 Business sales Turns out many businesses prefer to do sales over the phone. They want to call their vendor and just place the order over the phone. I thought this makes sense because this is how I buy the shipping boxes and material for my Hand Held Bidet store. I call Uline and just place the order over the phone, since they have my info on file it's easy for them to do this as well. Turns out there are lots of businesses selling to businesses through Shopify, and they really like the app as well. Examples of Business 2 Business stores using Raven successfully: *Carry Out Supplies - Sells custom printed cups for frozen yogurt shops *Geyser Water Filters - Sells water filtration systems to businesses *Data Cart - Sells carts for medical equipment and instruments to hospitals *Dr Delicacy - Sells hard to find delicacies to local restaurants 4. Customized Products Customized products also do well over the phone because customers want to make sure the merchant is 100% clear on their request. Examples of custom product manufacturers doing well with Raven: *House Design Builder - sells custom made house number signs *Rollin Digital - sells custom designed CD covers *North County Fire - sells fireplaces *Allied Cycles - sells custom designed carbon fibre racing bicycles [link] [comments] |
Online advertising for eBook / course Posted: 06 Jul 2018 01:34 AM PDT Hi, I wrote an eBook on a niche subject: Web Scraping (with code example in Java). I started a pre-sale 6 months ago, it's doing well, decent conversion rate (5%), and my readers are giving me incredible feedback (I have to admit, this feedback is as satisfying as the money! ) The traffic is from my personnal blog, where I talk about this subject. At the end of each post, I have a link to the pre-sale page. I have 3000-4000 visits a month on my blog, and only 200-300 people goes to my pre-sale page. I also have the whole email marketing setup with ConvertKit. Email sequences / discount / leadmagnet with the first 3 chapters etc. At the moment the pricing is $19 during the pre-sale. The book is almost finished, and I will add 2 tiers. Not sure about the final pricing yet but it should look like $29 / $49 / $99. I want to try paid traffic, but I'm not sure where to start ? Facebook ads ? Reddit ? Twitter ? Adwords ? To be honnest, I'm a bit scared about Reddit advertising, as a heavy redditor myself, I hate seing ads on reddit. For Adwords, I think it's complicated because the search traffic for these specific keywords (Web scraping with java) is very low. So I thought about starting with Facebook ads first, does that make sense ? I didn't find a lot of resources about marketing a technical eBook / course (Maybe because technical people are not that good in marketing ? :) ) Thanks for helping edit --> pre-sale page here for those who are interested: https://www.javawebscrapinghandbook.com Not very happy about how it looks like atm, it's a WIP. [link] [comments] |
4 Content Formats For Each Step of the Customer Funnel Posted: 06 Jul 2018 11:04 AM PDT Are you looking for a way to freshen up your blog with new content, or launch a new venture? Content is king. If you want to attract visitors and keep them, you need to create material that your audience will want to engage with frequently. In a perfect world, your audience is always ready to buy. Alas, in reality, your audience lies in different spectrums when it comes to readiness. Some of them are ripe for purchase while others are just learning about your product or service. That's why you need a content format that serves each step of the customer funnel:
One of the best ways to drive traffic and increase conversions is to implement a multifaceted content marketing strategy. With so many different format options out there (including quizzes, webinars and how-to guides), it can be almost overwhelming to decide what works best for your brand. Thankfully, your clients want variety. There is no cookie cutter solution for delivering valuable content, and there are several different methods you can try to tell your brand's story at the multiple stages of a customer funnel. There are many options for each stage of the funnel, but here are four excellent options to put a fresh spin on your strategy: Infographics - AwarenessOne of the most well-recognized types of visual content is the infographic. Combining text with graphics, they create a visual representation of a topic that is easy to digest at first glance. They're a great way to break down a big idea, especially if a lot of data is included. For example, a telecommunications company could poll customers to find out how much time they spend watching television, surfing the internet or talking on the phone. Turning this data into an easy-to-digest format like an infographic would then help support any interesting findings they come across, such as consumer viewing trends or surprising internet habits. Not much of a graphic designer? No worries. Use a free online tool like Piktochart or Canva to create an eye-catching infographic for a blog post. Remember to keep it simple, streamlined and focused on a specific audience and topic. Don't forget to promote your content! Upload it to your Pinterest page, post it on Facebook and send it out as part of your next email newsletter. A great way to make people aware of your brand. Case Studies - EvaluationDo you have happy customers that are willing to sing your praises, or a solid success story that makes your company shine? Case studies give your brand credibility and help you attract long-term traffic. For example, a public relations firm could write a case study detailing the creative story campaign they created for a client. The case study could contain an anecdote from the client, specifics on ROI and audience reach metrics, and links to resulting news stories from media pitching efforts. Create a spot on your website for all case studies and client testimonials to live. Send them along with business proposals, tweet them to potential customers and highlight real stories on your Facebook page. It's a great way to move your customers on the fence further down the funnel. Reviews - ConversionAny company can praise their own product. If Colgate launches an ad saying that 9 out of 10 dentists recommend their brand for teeth whitening, it's doesn't have the same influence as a friend telling you it's whitened their teeth. Reviews are the online word of mouth. Get your happy clients to give you a raving review. Then it's just a matter of making it visible on your site, newsletter and anywhere appropriate. This is a great way to drive doubt out of your clients mind and drive them to take the plunge into your brand. Podcasts - RetentionWhether this is seen as a retention play is debatable (every situation is different). But if you can give you existing audience or client base value through quality information, it can be a great way to establish authority and credibility with your existing client base. I've seen an agency launch a podcasts that helped demonstrates to their clients their expertise. Do you or someone on your team have a good conversational voice? Consider recording a podcast of you discussing an interesting industry topic. You'll want to prepare for this in the same way that you would a written piece. Research your topic, prepare an outline, and write out specific points you want to hit on. Decide on what the tone will be like (funny or formal?) and how long it will be (short and pointed, or long and conversational?). For example, a podcast that discusses easy DIY car maintenance would be an excellent topic for an auto insurance company or a car dealership. Episodes could feature the owner speaking with different mechanics about what drivers should know about their vehicles. Get creative with your topics! You can even bring on industry experts, customers or other teammates for interviews, discussions and debates. Encourage your participants to share the episode on their own social media channels, which will help generate more backlinks to your page. Hopefully this posts gets you thinking about your content funnel strategy. Feel free to DM me if you'd like some insight into your content strategy for your customer funnel :) [link] [comments] |
Process of acquiring a company Posted: 06 Jul 2018 04:06 AM PDT Hi guys! Been talking to a guy who runs a Shopify app company doing about $400 / month in passive income. Wondering what process you'd take in acquiring this company, things to consider, how I should value it and ways to protect myself from getting scammed. Any advice would be appreciated! :) [link] [comments] |
New to entrepreneurship and I need help with the simplest thing. Posted: 06 Jul 2018 01:31 AM PDT I'm kind of embarrassed to even ask but I know reddit is kind. I have a small importing and distribution company and the first and only product we imported was given to us through a friend, never really had to do much of a formal communication with the supplier. The same with our clients, whom are people I know in my network. I don't have a formal business education and ignore the etiquette, so when asked through an email to send a company presentation to be consider for distribution rights, I'm not sure what to send. I've seen one page company profile letters, written description of what we do in the email body and corporate presentation slideshows, which one is the appropriate in this case? Please be kind. [link] [comments] |
Working All the Time and Not Doing "Fun" Things, what do I tell people? Posted: 06 Jul 2018 10:53 AM PDT So the only hobbies I have right now outside of doing business are fitness & video games. I'm 25. People and Coworkers ask what plans I have for the weekend, when it is most likely me reading business books/working on the business. Haven't made any actionable gains and don't want to tell these people that I do business. What do I tell these work-related people and non-work related people? To build friendships, people normally start asking what you do in general or what plans you got. I tend to cut my budding relationships because I don't want to tell people about my business. I don't really do anything else at the moment. So, the relationship kinds of dies because the person quickly realizes I am really avoiding questions/changing the subject or thinks that I'm dull as a stale bread. [link] [comments] |
Posted: 06 Jul 2018 10:32 AM PDT |
What are some up to date blogs like gaps.com? Posted: 06 Jul 2018 03:06 PM PDT The main premise of the blog is "sharing business opportunities based on profitable case studies" and the blog was simply about case studies on what worked. But there are no new posts anymore, they stopped posting quite some time ago. Are there any other blogs like this that are up to date? Ps. I'm not related to this blog, it's not up to date anyway. [link] [comments] |
Posted: 06 Jul 2018 10:56 AM PDT She has done a great job of searching for as much of the information as she can find through sites and articles, but there are still many questions that we want an answer to, especially since there is presently only one dog café operating in the U.S. (where we're located). Some questions are: How do you best estimate costs that come with running a business like commercial supplies? Are there different business loans that we should look into? How do we choose which one? Should we get a loan? What are the hidden costs to running a business that new people may not think of? With an animal cafe, how can you guarantee consistent business, in addition to tourists? Would tourists be enough to maintain a business in a big city like Chicago? What is the best way to get information on legal regulations (this is particularly important considering foot and animals in the same building)? Calling? Emailing? Is it easily available online? Are there roles that should definitely be hired for as opposed to us taking it on? Like marketer, accountant, etc. What happens if the business fails? Can you lose everything (house, cars, etc.)? Any other information you feel we should be aware about, please us know! 7-10 years is around the time frame that we would want to open it. We really want this to become successful so we are trying to become as prepared as possible, as early as possible. While the internet can be home to copious amounts of information, it sometimes helps reaching out to those who have gone through this before, too. We appreciate you taking the time to read this over! [link] [comments] |
Is a business loan smart for me? Posted: 06 Jul 2018 02:21 PM PDT I run an ecommerce business that I am currently dropshipping. Since conception, in April, I've done a little over $250,000 in sales. After ad costs, ordering and shipping costs, I'm sitting at about 30% of that being profit. Ive recently gotten the approval (if I wish to accept) for a Shopify Business Loan. They give me $44,000 and I pay them back every day (15% of my sales). When all is said and done, I pay them back $49,720. (Basically interest of $5,720) With dropshipping, it's made it difficult to create long term value in my customers because of long shipping times and packing saying it's from China. My initial thought is to use a significant amount of that money to invest in a very small state-side facility (like a small office), inventory, and a few shipping/packaging designs. I've never gotten a business loan, so I'm not sure if this is wise to do. My first thought was "yes" but I wanted to bounce this idea off of you all here! [link] [comments] |
How Entrepreneurs can make a Profit 3D Printing in 2018 Posted: 06 Jul 2018 01:54 PM PDT Hey, I'm thinking of periodically updating this article. Can anyone think of a category I have missed as far as how to make a profit 3D Printing in this day and age? https://promoambitions.com/how-can-entrepreneurs-profit-from-3d-printing-in-2018/ [link] [comments] |
Should I wait to have samples to try sell? Or should I go in and wing it? Posted: 06 Jul 2018 01:42 PM PDT Hey all, So recently have moved to a new area and have identified that many hotels in the area struggle to get goods sourced from suppliers. I am in a position where I am going to China next week and have already been given an order for a variety of items such as bathrobes, slippers and other amenities from the hotel I am working in currently and when investigating the local supplier market it seems there is not many at all where I am located. I have been thinking of going around local hotels trying to explain the situation to them and see if they needed anything ordered, but now I am wondering would it be a wiser move to wait until I am back and bring some samples with me for these initial meetings? I am a people's person, and I feel if I am able to get in front of the right person in the hotel I should be able to get them to work with me, but I am just thinking of that first impression - and perhaps maybe I should wait until I have some samples to give off a more professional approach? [link] [comments] |
Software Product Life Cycle Explained Posted: 06 Jul 2018 01:41 PM PDT Optimizing and controlling the product life cycle is easier said than done and starts way before the introduction of a product. It requires a strategy, careful planning, execution, and control. Above all, it requires a process and methodology for all phases of the process. Software products are no exception, on the contrary, given the high pace of competitors emergence and technology changes, software products appear and fall off the market much quicker than other more traditional products. One of the most classic and prominent examples of the complete software product life cycle is Netscape Navigator. It was once the dominant web browser in terms of usage share, but as a result of the first browser war, it lost virtually all of its share to Internet Explorer. Let's look into its history broken down by product life cycle stages. [link] [comments] |
When to start marketing your product? Posted: 06 Jul 2018 01:31 PM PDT My co-founders and I are having an argument. We've built and released our app and we are hearing positive things. Our app isn't really growing. We spend minimal time and money doing marketing and our DAUs(daily active users) are pretty flat. In order to grow our user base, my co-founders think that our product needs new features, and I think that we need to start marketing. We just can't agree on what to do next. Any suggestions on what to do? I think this can generally apply to most startups, but I'll add my specific details below. My Company, For Reference We are Cayenne Clothing an app that sells one men's clothing item a day. We search high and low to find one great clothing item from - usually undiscovered brands - around the world. We are about 6 months in, and we launched to the App Store on May 1st. [link] [comments] |
Should I start an SEO Agency in 2018? Posted: 06 Jul 2018 01:20 PM PDT |
Day trading vs running you own business. Posted: 06 Jul 2018 07:02 AM PDT I have no experience on either and want to hear your opinion on this subject. [link] [comments] |
What's The Feasibility Of A Personalized Startup Tech Newsletter? Posted: 06 Jul 2018 12:45 PM PDT A major problem that I feel needs a solution is how the pace of technology is accelerating far past the rate of startup adoption. For example, new innovations in industries such as AI, Cloud Computing, SaaS are evident but only after time do these tools/technologies get adopted on a wide scale by low-resource, early stage startups. This is because of the countless number of options that these startups have and how they might feel overwhelmed and just stick with what's popular. A humble approach I want to take to promote discovering startup technology is to create a personalized startup newsletter where early stage tech startup founders can fill out a form on my website about their size, startup stage, and tech interests in regards to what their startup is doing ( e.g., machine learning, virtual reality or blockchain) in order to be suggested about 3 free, low-cost tools once or twice a month that would matter to them (picked by relevance). I plan on serving as a free outlet for b2b startups to reach their target startup audiences. For example, a SaaS startup with a novel project management tool would be able select the type of startups they feel they can help most and if I feel confident about their offering, I will add their product to the newsletter. Tell me what you guys think, if this is needed, and what expectations you have for a product like this... If you are nearly as excited as I am about this idea, let me know :) https://goo.gl/forms/8rsX3Av8KKydv9C82 [link] [comments] |
How to go about a deal online [Who goes first?] Posted: 06 Jul 2018 12:37 PM PDT Hello Reddit I'm curious on how to actually preform a deal online. I'm trying to purchase a website, and he wants payment in crypto currency. I don't exactly know of how I can prevent losing money, the only thing I could think of is possibly just dividing up the domain / server / whatever into separate payments ANY ADVICE IS APPRECIATED ! [link] [comments] |
Creating Ag Multi-Vendor Marketplace Posted: 06 Jul 2018 06:28 AM PDT Hey all, I'm creating an agriculture based multi vendor marketplace. I've been looking over a few different solutions, and I haven't been able to narrow it down to a clear winner. Basically we would approve vendors and from there we would like them to have a form to fill out to list their inventory. This products wouldn't be shipped, they would all be picked up locally. It's a very niche market and nobody else is doing it. I also would like something that either comes with or has the ability to buy a aesthetically pleasing theme. I've looked at Shopify, WordPress + WooCommerce + Market.PixelGrapes, and StoreHippo. I've used Shopify the most, but never with a multi vendor marketplace. I've messed around with Wordpress a bit, but nothing too extensive. I'm tech savvy so I can pick up on tech things pretty easily. What do you all think the move is? I'm open to any ideas or different solutions if anyone knows any. [link] [comments] |
Filling out extra space in juice/coffee bar Posted: 06 Jul 2018 12:19 PM PDT I live in a smaller town with a 12k population and I strongly believe a modern juice and coffee bar would do great in the area, however finding a retail location is very difficult. Finally there is a location available in the perfect spot in town...but it's $6k for 2600SF. Ideally I was looking for 1500SF around $3500. Hence I will most likely not go through with the lease unless I have an idea to make two businesses in the space or bring something else that creates a lot of revenue/traffic into the space. Any ideas? [link] [comments] |
What tactics were most effective in the success of your business? Posted: 06 Jul 2018 12:04 PM PDT I'm very curious to hear from other ecommerce businesses, but would love to hear advice from any successful business owners. What has been most effective so far in growing your business and making sales? For example: Advertising? What advertising platforms did you use - Facebook? Google? Have you used social media marketing? Did you hire someone to help market your business? Did you use influencers on Instagram? Word of mouth? [link] [comments] |
Looking for businesses for sale Posted: 06 Jul 2018 12:01 PM PDT Have a budget of say 1-30k USD. If you have anything for sale, or provide any services, feel free to message me. Looking to connect with new people, would be a pleasure! Thanks! [link] [comments] |
Please help me decide on a color for my business site (B2B Service) Posted: 06 Jul 2018 11:34 AM PDT Hello there, I hope this wasn't a wrong place to post this, but I really wanted to get opinion from all the successful business owner and entrepreneur here! So I'm running a search marketing agency, which usually target business owner or higher management level who make decision, and my site should help me to convince them into making this high ticket investment. Here's 3 color schemes that I've chosen, should I go with the safe blue that promote trust, or should I go for exciting red? [link] [comments] |
Effective in-store pitches to get a store to stock your product? Posted: 06 Jul 2018 11:15 AM PDT It's a healthy fizzy drink with no sugar, sweeteners, calories or anything artificial. Approaching convenience stores and cafes in London. Any help appreciated! [link] [comments] |
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