Wantrepreneur Wednesday! - (July 04, 2018) Entrepreneur |
- Wantrepreneur Wednesday! - (July 04, 2018)
- These are the 4 characteristics I try to keep in every action I take when pursing goals - I've found that these have brought me success in my pursuit and I hope it helps you too. [5min Read]
- Dealing with Chinese suppliers
- I want to share a story about my late father who brought our family to America, and is my biggest entrepreneurial inspiration.
- What are your favorite SaaS growth hacks (free and paid)?
- What easily sells that is legal and relatively easy to be able to sell?
- Need recommendations for seo
- For those of you who buy mixed pallets and truckloads...
- Learn Coding for Entrepreneurs by building real life projects
- What was your first successful business venture?
- any good free software to track my sales & profit? exel is not what i need.
- Required Reading for Entrepreneurs
- I read everywhere “the sale starts after a no” but how to actually apply it ?
- I wish I found this video earlier - The Mom Test.
- Marketing has helped me go viral but no sales? Everyone keeps asking for free samples!
- What do you think of my shopify store?
- SaaS Start Up. How do I forecast for my first two years?
- Got to a point in my life where i just dont know anymore
- Running a side project with 50k DAUs that generates $3,000 MRR.
- Technology Innovation Ideas Contest - $1,000 in Prizes
- Solving a problem customers don’t know they have
- Shipbob vs. Shipmonk for my online headshop
- YouTube channel marketing
- What methods would you use to gain an audience on my website?
| Wantrepreneur Wednesday! - (July 04, 2018) Posted: 04 Jul 2018 06:06 AM PDT Please use this thread to ask any wantrapreneur questions. We do this to not overflow the subreddit with wantrapreneur 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. [link] [comments]  |
| Posted: 04 Jul 2018 04:53 AM PDT Hi r/Entrepreneur, I originally wrote this article on Medium here, I figured I'd post it here too as it's got strong entrepreneurial themes and my heart was in the place of business as well as personal when I was writing it. I hope it helps you out! There is only a single core property separating all of your achievements and conquered goals from the ones you've put off, haven't gotten to, or otherwise haven't yet achieved. That core property is Action. Action, in my experience, is a prerequisite for the achievement of any goal. I think the term "good things come to people who wait" may be applicable in certain contexts, but for the purposes of achieving goals, I like to torch it from my literary toolkit. I've found that actions we take towards a goal can be lacking in substance a fair amount of the time. You feel like you're doing things that will take you towards your goal, but for some reason, those 'actions' aren't yielding results. This reflection lead me on a journey to deconstruct my current and previous goals so I could uncover what makes an action truly effective. I found that truly productive actions have certain characteristics rooted in them, and to my luck, I could categorize these in a way that somewhat made sense. So without further adieu… Here are the 4 characteristics of action that I've found, that make audacious and even frightening goals, very much achievable. Practicality The practicality characteristic of an action is legitimately the only thing that differentiates an action leading you to your goal, from inaction that's impacting your potential. Theory is knowledge about the thing, practice is actually doing the thing. You're not going to learn how to swim by reading a book about swimming. You won't make a dime while reading a book about business, you won't hit your fitness goals while watching videos about dieting. Each action you perform needs to have its roots in practicality if you want to inch closer to your goal. This is not to say that educating yourself is what's holding you back, quite the contrary. However, if in the end your studies aren't leading you to practice, or they're literally the reason for your lack of proper action, you're not educating yourself, you're procrastinating. Get out of that cycle and make sure each action you take is practical.
Just simply ask yourself the question —* Is what I'm doing tangibly and actively bringing me closer to my goal?* You won't be able to answer 'Yes' to that question, if the action you're taking isn't rooted in practicality. Consistency Here's a Turkish proverb that I adore.
By default, as human beings, we expect an action to give us an immediate reaction. I'm presuming at some point during history, a caveman slapped another, just to see the immediate satisfaction of angering his friend. Modern life has dug that default expectation a little deeper and gives us exactly what we want — everything, immediately, all the time. I want food? I can order it now and it'll show up at my door. Do I want to talk to a friend? I've got a list of 500 a tap away. Do I want a date? Let me swipe and type my way to some social interaction. So when we start a business, make content online, try to progress in any way — our default doesn't change. And we all know too well that this causes feelings of agitation, frustration and helplessness. The consistency pillar of action is exactly for that reason. If your action is practical, like going to the gym, that's legitimately commendable. Want to supercharge that very practical thing you're doing? Make it consistent and don't expect immediate results. Consistency is difficult. There's no other way to put it. Getting discouraged is a very real problem when our monkey mind is waiting for that immediate banana. Having a disciplined approach to consistency will always pay out dividends. Sitting down and writing, coding, working out, designing in a consistent manner for long enough, will allow you to turn it into a habit. And that satisfaction of a grueling thing becoming a habit… It's like having a burrito that never ends. The light at the end of the tunnel stops becoming this elusive thing. You don't even care about the light anymore, riding your kickass train through tunnels becomes just another thing you do. And you love it. Hot Awareness Tip #1 — Your phone is one of the super-villains when it comes to seeking immediate satisfaction. This almost always carries over into other facets of life. Manage it well. (I know you know, I wanted to remind you anyway) Measurability
This quote from Peter Drucker, a famous management consultant, sums up the reason why companies fail. Companies that don't emphasize data, that aren't curious about the cause effect relationship between actions taken and results, that don't reflect on outcomes — never actually scale. And almost certainly fail. I mentioned earlier that not seeing results immediately after an action discourages us. That's true, but often times, we are actually gaining results. We're just not seeing them. Because we're not looking for them. You're a small business using a sales model. You're practical, you go out and try to make sales, you get on the phone, you do it all. You're consistent, you do this every day. Progression is slow but you're definitely feeling something. You're improving, for sure. But you're not recording anything. You're winging the operation. This isn't the worst thing because you're out there doing the work, but what if you were to measure things? What if you managed things well? How would that affect you and the operation? I'll tell you,
You might not be seeing changes to your body after doing 3 weeks of strength training, but you've gone up 10kgs on the bench press and you've doubled your initial squat. Things are happening. You feel like you're writing style hasn't improved, but you're getting more comments and reads on your work. Things are happening. You haven't made a single sale yet, but people are spending double the time on your site and making it to the end of the checkout. Things are happening. Quality Simply put, don't half-ass things. You're taking an action that's practical. If it's practical, just do it and do it enthusiastically. Commit to quality. If you're consistent, but consistently doing something half halfheartedly, you'll get halfhearted results. Commit to quality. If you're measuring your efforts with the assumption that you're putting in 100% effort, but you're not, you'll always end up with numbers that don't make sense. This will only discourage you further. Commit to quality. The quality of an action makes all the difference when the other characteristics are met. Don't skimp out on it, continually try to improve it, and you'll always be moving in the right direction. Thanks for reading! If you want a little something extra once in a while, go here, or follow me on Reddit :) u/safkan04 signing out. [link] [comments]  |
| Dealing with Chinese suppliers Posted: 04 Jul 2018 11:22 AM PDT I have started working on finding better raw material costs in the chemical space and I have started communication with various suppliers in china. Does anyone have any general insight for success? I picked some raw materials to try to qualify. They said that they will send the requested samples, but would like me to cover courier costs? Is that a typical practice? I mostly have experience dealing with raw material suppliers locally and think I have a good idea how that song and dance goes, but this experience is foreign to me. [link] [comments]  |
| Posted: 04 Jul 2018 08:27 AM PDT Happy July 4th r/entrepreneur. Wanted to share a story that's near and dear to my heart and maybe it'll encourage someone to take the entrepreneurial leap. My family immigrated to this country 24 years ago from the former Soviet Union, and I'm eternally thankful for what my parents did to give my brothers and I better opportunities. In particular, my father, who gave up and incredibly successful career in educational to move here speaking no English at the age of 54. He went from having documentaries filmed about him to pumping gas here to support our family. You might wonder how a successful guy like him didn't have a bunch of money, and why I'm posting about him in this sub. Well, the truth is, no matter how entrepreneurial you were in Soviet Belarus, the absence of private property meant that the only way you can get rich is by taking bribes (or through connections to the government). Still his story is worth sharing, as it serves as motivation for me whenever things seem bleak, as they often do when you're an entrepreneur. After surviving the Holocaust in 1940s Belarus, my dad started off as a school teacher, teaching vocational trades, mostly on a whim, and also because he liked working with children. He was limited to what he could teach because health issues as a child prevented him from finishing highschool. After years of teaching a few subjects, he realized the administration would never let him advance as an educator unless he had a degree. So at the age of 29 he went back to Highschool, and then ultimately did well enough to be accepted at a good teaching University in Belarus. All the while, he took every opportunity to teach whatever subject his school needed, and worked harder than anyone else. He loved doing what he did and found ways to engage at risk youth by organizing clubs for them, and teaching them whatever they were interested in. This lead to his philosophy that children should be allowed to learn more of the subjects they were interested in, and less of the subjects they were bad at. Unlike most people in a communist society, where innovation was disincentived because it went against the central authority, he loved trying new ways for students to learn, and took on more responsibilities even if he couldn't get paid more for it. This was one of the many examples of his entrepreneurial abilities. He would also figure out ways to reappropriate funds that other schools weren't using to create projects that benefitted the community. His organizational abilities started to get noticed and by his late 30s he became a vice principal of the school he worked at. In the early 80s there was a new school being built in our city, and he relentlessly pitched his ideas to the department of education, and won the chance to be principal of this new school. This school was in one of the worst neighborhoods in the city, and through his model of community building using students and social workers to benefit the neighborhood, he was not only able to build the most successful school in the country, but turned this into the best neighborhood in the city. Because he was a Jew who went against the grain, many conservative Communists did not appreciate the work he was doing, and ultimately because of threats to our family, we had to leave Belarus and he had to give up everything he worked years to build. If you liked this abridged version of his story, I would appreciate if you took a listen to a podcast episode my brother and I released today about his life. This is part 2, but you don't have to listen to part one that we released in May to understand the story. https://thementors.co/podcast/how-to-do-what-you-love-in-a-communist-country-part-ii/ We're so lucky to have the freedom in this country to take any idea we have and just try it to see if it might turn into an organization or a business. Don't take it for granted, because not everyone has this luxury. [link] [comments]  |
| What are your favorite SaaS growth hacks (free and paid)? Posted: 04 Jul 2018 12:45 PM PDT |
| What easily sells that is legal and relatively easy to be able to sell? Posted: 04 Jul 2018 02:16 PM PDT |
| Posted: 04 Jul 2018 02:15 PM PDT Hi friends. I've been pushing my product locally for a few years now and I've had my site live for a few months. It's done well with having a Facebook page and the odd ad I push out. My main goal is to rank for certain keywords to get organic viewers. Right now I do not rank at all. There are very very little competitors (1-2 sites) and I followed a few tips from the beginning re seo. For example my website and brand name is a keyword i am trying to rank. I've NEVER done seo at all, and wouldn't even know where to start. I do not mind paying for results. My question is, how do I find someone who can actually deliver? Most of these "firms" are one man shows and promise no result. Does anyone have any recommendations? My time is more valuable than anything so I would rather pay if it takes hours to learn and execute. [link] [comments]  |
| For those of you who buy mixed pallets and truckloads... Posted: 04 Jul 2018 02:02 PM PDT Assuming that it's a mixed load with a large variety of products... How do you assign a unit price for each item for accounting purposes? Obviously the simplest way would be to assign the same unit price to every product in the shipment. (Total # of products / Total Price paid) But then some cheap items will show huge losses when they sell while the expensive ones will show huge gains. I know this is all a wash in the end, but I was wondering if there's a better way. TIA [link] [comments]  |
| Learn Coding for Entrepreneurs by building real life projects Posted: 04 Jul 2018 01:06 PM PDT I was thinking for a while to start a blog to teach coding for entrepreneurs, I know there is like a bajillion website like this , but the problem with those is that they don't really teach you to build real life apps, products and so on, they only focus on the blocks of programming . I'm thinking like to include tutorials for example, Learn python by building your first social network, I believe that this type of tutorial is much better than the classic ones : Learn to code in X where they teach you concepts, most of beginners don't where to use them or how they can be useful . Again the goal here is not to make you a programmer, but rather an entrepreneur that can build his own products . I'm looking for some opinions on this & thoughts . [link] [comments]  |
| What was your first successful business venture? Posted: 04 Jul 2018 12:47 PM PDT What was the first business venture that you considered successful? How long did it take to grow? I buy and sell goods (e-commence) and have roughly 60k of inventory. I am trying to expand and get into other business markets. People always tell me that real-estate will be a hassle for me as everyone and they're mother is doing it. I still think it may be a good thing for me to get into. I have researching ways to make money via internet. I usually sell goods. I know selling automobiles requires a license if you sell more than 3 or 4 cars a year. I am just speaking my mind but if anyone can tell me how they started out it would be great. Thank you. [link] [comments]  |
| any good free software to track my sales & profit? exel is not what i need. Posted: 04 Jul 2018 07:22 AM PDT |
| Required Reading for Entrepreneurs Posted: 04 Jul 2018 11:04 AM PDT Hi guys, I'm very interested in starting my own business. I got a master's degree in a business related field so I understand concepts such as strategy and what not. One area I have no clue about is actually forming the business. What the heck is an LLC or S-Corp? How do I handle accounting and taxes so I don't go to jail for messing up? What about payment processing? How do I add employees? What I'm looking for is a list of required reading in starting a business. I've found Reddit to be very good at this - suggesting books that offer sound advice in specific fields. So what books should I read on the topic of the fundamentals of small business/entrepreneurship? [link] [comments]  |
| I read everywhere “the sale starts after a no” but how to actually apply it ? Posted: 04 Jul 2018 10:59 AM PDT I mean, I stopped taking the "no" so personally but I would like to know what you guys do after a "no". When someone tries to sell me something and I say no I'm either not interested or I don't have the budget for it. There is nothing you can do about it . I also have a couple of clients that say "right now I'm not interested. I'll come back to you if it changes" Is it just to be polite ? What's the best time to go back to them ? So how do you guys manage to close the sale after the "no"? [link] [comments]  |
| I wish I found this video earlier - The Mom Test. Posted: 03 Jul 2018 10:10 PM PDT As entrepreneurs knowing our customers is key. But how do we know whether or not our customers are lying to us. Often times if we present our idea we present not only the idea but all of our hopes and dreams along with it. People see this when we talk to them and are forced to respond in a positive way. "I love your idea", or "That sounds great", "Let me know when it comes out." Although all are positive answers they are all answers to be wary of. The success of our business doesn't come down to the opinions of people it comes down to their commitments. The video below explains the idea in much more detail than I ever could, I wish I could have found it sooner. Enjoy ;] [link] [comments]  |
| Marketing has helped me go viral but no sales? Everyone keeps asking for free samples! Posted: 04 Jul 2018 10:13 AM PDT Hello everyone! I sell art supplies, particularly oil paints that I make myself. My instagram has been gaining a lot of traction lately ( https://Instagram.com/masterartsupplies ) and I've been gaining more visitors to my site as well through Instagram ( https://masterartsupplies.com ) This is great and all but I'm not getting any sales from these new visitors. Instead, I'm getting emails and DMs for requests for free samples and people looking for a "sponsorship" or "ambassadorship". I've sent out about 15 packages with free samples to various artists around the U.S who've reached out to me and it's starting to burn a hole in my wallet. The funny thing is, only one of them posted about the samples and gave a thorough review. No one else has done so. So my question is, do I keep sending out free samples when people ask? If not, then what do I tell them? And how can I convert those Instagram visits to sales? Thanks! EDIT: thank you guys for the suggestions! I have created a sample pack and will charge shipping and I'll send the link to anyone who asks for samples from now on. Here's the link to the sample pack if you're interested to see what it looks like https://masterartsupplies.com/products/sample-pack [link] [comments]  |
| What do you think of my shopify store? Posted: 04 Jul 2018 01:39 PM PDT |
| SaaS Start Up. How do I forecast for my first two years? Posted: 04 Jul 2018 09:44 AM PDT My partner and I started building an ERP system for print companies. We had a great idea to solve many problems within franchising and multiple locations. We have been planning and building or software since January 18' and aren't projected to be completed until the end of the year. Both of us aren't taking a paycheck and will have about $500k invested by the time we are ready to go to market. I would like to project forecast for personal reasons and for my partner. He is more on the financial side of the business (he's got the money, I've got the idea), and I would like to show him how we are going to get our money back out. Any advice would be appreciated. Our website is www.goodbye9to5.com. It has our product description and pricing available. [link] [comments]  |
| Got to a point in my life where i just dont know anymore Posted: 04 Jul 2018 09:41 AM PDT Hey guys, quick thing to know about me, im 24 now 25 this year and i haven't had a job since i finished my A levels (uk). Throughout my teens i was always going to be an athlete i was at an elite level till injuries ruined everything for me, from then on i never knew what i wanted to do other than use my other talent which is racing (driving). Most of you probably know getting into motorsport takes a shit ton of money. So over the past 6 years i've just been sitting around dreaming about trying to think how i could maybe be given a chance, emailed so many racing teams with no avail as it doesn't work like that. So now i'm in a predicament where i need to do something to live. I'm the most competitive person there is which is why i've never saw myself doing anything other than that. But now i need money and i just dont know what to do, the thought of a 9-5 job kills me inside, i just cant do that, its against my nature, i know alot of people will tell me to shut the fuck up and just get one and that's cool. I just need some advice or recommendations of what i can do. Like i say my only skill really is my driving talent since injuries have ruined my athletic career. Entrepreneurship has always interested me and i always dream up things i'd do if i ever become a race driver to keep profiting. I rambled a bit and probably make some grammatical errors because i'm just freestyling my thoughts while im sat here as i was browsing this subreddit. Kinda feels good to tell some people about myself a little bit, i dont know what im expecting from this though haha. Cheers Guys [link] [comments]  |
| Running a side project with 50k DAUs that generates $3,000 MRR. Posted: 04 Jul 2018 09:33 AM PDT I have a passion for building side projects during my weekends and one of my side projects fortunately scaled to 50k DAUs with some growth hacks. I never spent a penny on marketing or user acquisition. The app currently generates a passive income of about $3,000/month. I do not have to spend any time marketing or improving the product. I don't think the app has further scope of product development. I have a full-time job too. Should I quit my job to continue building similar projects that can generate these recurring revenues? Anyone been through such situation? [link] [comments]  |
| Technology Innovation Ideas Contest - $1,000 in Prizes Posted: 04 Jul 2018 09:12 AM PDT Hello everyone! Researchers at University of Southern California, University of Innsbruck, and University of Salzburg would like to invite you to join our new Future Technology Idea Contest. https://volunteerscience.com/experiments/future/sm=r_entrepreneur?join_category=446 The Future Technology Contest introduces a new smart chip. This is a revolutionary technology that can make devices think, hear, see and moreover remember and understand many things around us. It is for personal, not industrial/large business use. Due to the chip's very small size, devices embodying this technology can be worn/carried/used 24 hours a day. In the Future Technology Idea Contest, you will brainstorm ideas for innovative new products and services that can embody this new smart chip. We will award prizes for the three best ideas: 1st prize value: $500; 2nd prize value: $300; 3rd prize value: $200. The deadline for idea submissions is July 15th, 2018. If you find the contest exciting, please visit the website and join our contest. [link] [comments]  |
| Solving a problem customers don’t know they have Posted: 04 Jul 2018 08:51 AM PDT We're about to launch a product that solves a problem for a segment of our customer base, except they don't know they have a problem. The other segment already uses a similar product to ours and knows they have a problem. Can anyone think of examples of other companies or products that were in a similar position I could look into? Or, if anyone would be so kind, as to suggest some strategy for us? I have some ideas already, but anymore would be very helpful! [link] [comments]  |
| Shipbob vs. Shipmonk for my online headshop Posted: 04 Jul 2018 06:51 AM PDT I'll keep things simple, I haven't seen a comparison of these two services. I want to keep 3 SKUS in stock about 100-200 each ranging from 2 ounces to 2 pounds, and I really need the cheaper overall option for fulfilling orders. Does anyone use or reccomend either service? These are the only two I would consider right now for my needs. [link] [comments]  |
| Posted: 04 Jul 2018 06:41 AM PDT Question for those who have had success with YouTube content. How did you build your base for subscribers and when starting from scratch, how did you accumulate views? [link] [comments]  |
| What methods would you use to gain an audience on my website? Posted: 04 Jul 2018 06:30 AM PDT Hi, I'm a software developer and university student not a marketer and not really that good at it. I need help on getting members on my website. I did announce it on some subreddits and IndieHackers. I understand that its a hard procedure but what other methods would you recommend? My website is a service that allow people to review projects by exchanging feedback. The infrastructure delivers fairness and consists the necessary functionality to provide accurate and detailed feedback to projects. It's called Mijjimo. Am I allowed to share my link on here? If so, I'll update this post [link] [comments]  |
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