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    Monday, October 29, 2018

    NooB Monday! - (October 29, 2018) Entrepreneur

    NooB Monday! - (October 29, 2018) Entrepreneur


    NooB Monday! - (October 29, 2018)

    Posted: 29 Oct 2018 06:06 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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    Graphic Designer currently tight on cash. Anyone want a discounted logo?

    Posted: 29 Oct 2018 10:08 AM PDT

    Hi everyone!

    I'm a little behind on bills this month, so I thought I'd post to see if anyone wanted a logo (or other graphics if needed). I know it's not marketplace Tuesday, but I honestly need the work immediately, so I hope this is okay.

    I'm a full time professional freelance designer, just lighter on work than normal. Have had a rough few months, and need an extra $300.

    I normally do logos starting at $150-$200. However since I need some quick money, I can do four logos at half price, so $75 per logo. That will cover the $300 I need, and help me out of this jam.

    [Here is a sample of my work.](https://imgur.com/a/u4bwH)

    So if you want a clean, modern logo, please get in touch soon. Since I'm on a bit of a time constraint, the discount logos go to the first four people who get in touch and can make payment upfront. Current turn around time is 3-4 days, a little longer if extensive revisions are required. With 99% of jobs I don't charge extra for revisions, as long as you don't want to completely scrap a logo after I'm almost done and start all over.

    For my process: After I receive payment, I start with a round of sketches based on any notes you provide me. You choose the one you like most for me to move forward with, or if needed I can do some extra sketches after further notes based on what I've done. Once you're happy with a design in the sketch phase I move on to a more finished version. At that point we can still go back and forth a little if you have any minor revisions, and once you're happy with it I send over all the files. You would then have full ownership of the logo, no further royalties or anything due. To keep it fair, I do all logos in the order that clients pay.

    I had posted here almost a year ago when I was a little tight on money and got good response, so I'm hoping a few more of you will want to take advantage of a half-priced logo again.

    If you want a logo, please PM me with what you're looking to have done, your website/business and any other important details. Also, please include your best email for me to reply to (it's easier to keep projects/clients sorted talking through email than it is on here).

    Looking forward to hearing from some of you soon! Thank you.

    UPDATE: Goal reached with a little bit extra as well. Thank you very much everyone. Really appreciate it! For anyone I was already talking to in private messages, I'll still honor the price I quoted you, just keep in mind I have people ahead of you, so turnaround time maybe be a week or two out. Anyone else I wasn't already talking to, I'm happy to still do work for you, but it will have to be at my normal rate of $150+. I can only offer these prices to help me get out of this jam, but if I do too many at this rate, I'll be right back to where I started with money issues. Thanks!

    submitted by /u/ProSoDesign2
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    Depression

    Posted: 29 Oct 2018 09:09 AM PDT

    I have a question for the depressed entrepreneurs on this subreddit , What's your secret and how do you deal with depression?

    submitted by /u/backtomisery
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    What side businesses do you run?

    Posted: 29 Oct 2018 10:50 AM PDT

    Starting and indie clothing brand and sewing everything myself.

    Posted: 29 Oct 2018 08:21 AM PDT

    I need input for the business I want to start. I've trolled the internet but all the 'clothing brand' help articles I can find are for cheap t-shirt companies and don't apply at all.

    I'm looking into starting an indie brand for a niche sub-style of clothing. I watch other indie brands and see that when they update their shops with new product they sell out within a day, so I feel confident the product fills a market need.

    I am an experience seamstress with over 10 years of sewing experience and I am currently working 90 hours a week between my day job and personal clients so I think I'm ready to quit my day job and use client work to sustain me while I grow this businesses.

    I want to sew all my products myself while I am small and starting out. I planned to start on etsy and invest in my own website if it goes well. If it seems viable later I will have my designs manufactured in small batches. Because I am all handmade my price point will be high, but I will want my product made in American factories if I get that far, so I beleive the price will remain the same. Other indie brands in this same vein are typically high cost, so I know the customers are familiar with the costs.

    I am having trouble determining if this is a sustainable, profitable idea. I would be more than happy if I made enough to survive on and nothing more but I'm not sure what I may not be factoring into business costs. There are fees to run a website, fees to take money, material costs, packaging costs, equipment upkeep etc. How do I determine how to price my product to be profitable?

    Additionally how does marketing and getting my indie brand visibility work for a niche fashion? Do I advertise on Facebook and post like crazy on Instagram?

    Any help or thoughts would be very appreciated. I've been having a lot of trouble finding answers to my questions and it's holding me back from being able to go forward with confidence.

    submitted by /u/Spazzerbot
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    Should I keep going above and beyond to please a previously difficult customer?

    Posted: 29 Oct 2018 06:50 AM PDT

    A customer bought a $30 powdered food item from my business. I get a call from her one Friday late in the day with her chewing me out on the phone because she bought the wrong item and it was somehow my fault that I sent her the wrong SKU (she needed powder scoopers too and only bought the item without scoopers in it). She said she was buying this for a business so I ate the loss and rushed her a dozen scoopers. As soon as I mailed the scoopers, she gets off the phone and buys $200 in powders.

    I wake up Saturday to my largest order ever for $1,100 in powders from the same lady. Question/topic:

    Should I keep sending this woman free scoopers to show a sign of good customer service? Or should I just send the powder that she paid for only so she doesn't get any false expectations in the future? (Or maybe include a note in the package with some syringes)?

    submitted by /u/lippindots
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    Cry me a river...

    Posted: 29 Oct 2018 12:51 AM PDT

    Hey All, 33yr old F just failed, big time. Any words of wisdom or consolation? I have lost all confidence. I'm going back into the work force bruised and battered. I opened a Ladies Fashion boutique WITHOUT DOING A FEASIBILITY ASSESSMENT. My execution was poor, my planning was mediocre and I tried to do everything myself. The creativity/design was beautiful and it was polished with excellent marketing buuuuuut wrong time/wrong place. Huge facepalm 🤦🏼‍♀️ 110K cash down the drain/ 2years and a 20K tax bill. My poor husband.

    submitted by /u/Kitz-85
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    Virtual Reality Business Ideas

    Posted: 29 Oct 2018 07:31 AM PDT

    Virtual reality is knocking on our door. The question is: Are we going to be a seller or a buyer? Of course, it depends on your ambiguity and willingnes sto try to earn some or a lot of money in this industry. Someone can say that he is not a programmer and does not have necessary knowledge. Do you really think that an owner of Volkswagen, Mercedes or similar, knows how to make a car. Of course he does not. He knows (and learns) how the industry works and manages the company. Here are some business ideas that you can use as base for brainstorming process. It can motivate you to choose one of these or to create your own virtual reality business.

    1. Virtual Reality Headsets Rental

    2. VR Based Marketing Agency

    3. VR Dating Services

    4. VR Dating Services

    5. VR Museums

    6. VR for Fitness and Exercise

    7. Data Visualization

    8. Blog about Virtual Reality Technology

    9. Building One's Own Virtual Reality Game

    10. Space Tourism

    What do you think about these ideas? Would you use any of these? Would you try some other virtual reality business? Can you see yourself in this industry?

    submitted by /u/Best_No1
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    Do you know of a way to send mass emails to every one of my customers with each email containing a different single-use coupon code?

    Posted: 29 Oct 2018 01:00 PM PDT

    Basically, I'm tasked with distributing a coupon on behalf of a local restaurant, Buy 1 entree, get 1 free. The coupon will be sent to many people, but each individual coupon should have a unique, single-use code on it to prevent people from using it multiple times or giving it to multiple friends.

    I have roughly 1500 emails, but I don't know how to send the same email to everyone at once with the only difference being the coupon code.

    Sorry, I'm not sure where to post this, but I thought someone in r/entrepreneur would have probably solved this problem before.

    submitted by /u/SwoleBuddha
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    Question regarding non-orthodox investment model

    Posted: 29 Oct 2018 12:48 PM PDT

    Hey all,

    Details about our startup:

    1. Our product is in the field of Future of Work.
    2. We want to fix an extremely unregulated, pirated area in which most SMBs must meddle.
    3. The startup was founded about 2 years ago.
    4. Our current 5-month plan is to get to ramen profitability. (Then there's an extra month.) 1-year would be to raise a seed round, begin working on deep IP and ramp up our marketing. 5-year plan would be to be one of the top 3 players in the market.
    5. We've had quite a rocky road, with extreme highs and downs. One of the most negative experience has been recently, when we ended our pre-seed funding runway and had to lose our partner and CPO. Our team is very dedicated and will stick with us for a few more months, but our funds are depleted and our fund raising efforts have all failed. The founders have not received income in months and will not receive any until the 5-month mark, and this if all works as expected. One of the most positive has been when an extremely talented and experienced entrepreneur (post-exit, sold a nearly bootstrapped company for the $60m+ mark) has recently decided he believes in us and in our potential, and offered a deal wherein he'll assist us with fund raising (investing $100k out of his own pocket, albeit in a pretty low valuation) and will join our company for 2-3 days each week, help us with very relevant connections and assist us in steering it.
    6. Advice we'd give ourselves if we could travel back in time would be to bring a domain expert way way sooner, and always focus on customers and sales - fund raising can take your eyes off the ball.

    So, we've been in a pretty bad situation as far as financials go - but we've been going up with customers and sales. We could not secure a funding round in the past year, and I doubt anything will change in that domain in the next 6 months, when we finally hope to reach $40k MRR. We want to move faster, and not "miss the market", so not being able to grow faster than bootstrapping allows is frustrating. The way things are right now, we'll be overextended for at least a year.

    Recently we got an offer for an investment that is unorthodox in style. The investor is a very rich angel, but also a "shark" of sorts, with a lot of expertise in our domain. The two sold companies in the hundreds of millions dollars together. He says that he, as well as the very talented entrepreneur I talked about above, will join our company for a few days a week for the coming few months. We'll build a workplan together, understand our requirements for the coming 2 years, and then he'll invest himself (or with a group of investors) based on what we deem required according to the plan. He will also inject any additional funds required on the way up. We believe that with the entrepreneur and the angel on our side, with the amount of talent and connections they can bring to the company, we'll have a much higher chance of succeeding.

    The angel's terms:

    • $3m convertible note, with an initial trench of $300k for the coming months where we build the workplan, and then an option that expires in 6 months to invest the remaining sum. The discount is very high (50%) and the cap is $6m pre-money.
    • We, the current co-founders, will receive anti-dilution protection during all investments until the company is worth $200m or more.

    What sort of pitfalls are there in such a deal? What should we be careful about? What should we watch out for?

    submitted by /u/confusedCoFounderTA
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    I am planning to crowdfund for a community event. I want to make sure the rewards I offer are something to get people excited about. What would you suggest?

    Posted: 29 Oct 2018 09:00 AM PDT

    The goal of the event is to bring people from different parts of my community together for a fun time. There will be activities, food and booths set up for local businesses / neighborhood organizations to connect with community members. The event will be centered around a kickball tournament since my event is all about how sport unites people and betters the world.

    So far I have the basics:

    • A personal 'thank you' card
    • Stickers
    • Name / Quote on site
    • T-Shirt
    • Tryout for a team (my event will include a kickball tournament)
    • Picnic basket for the event
    • Pre-event party invite
    • VIP section invite

    I am even considering having a high priced reward being getting their name tattooed on my body. "Special thanks to ___"

    Maybe I can add one where the person will be included in certain promotional material for the event?

    What other fun rewards could I add to make this more than just another boring crowdfunding campaign?

    Looking through all of these I just feel like people would not be interested so I need some perspective from you all.

    submitted by /u/CarneyAsada
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    [Infographic] 15 Success Factors for Entrepreneurs

    Posted: 29 Oct 2018 01:51 PM PDT

    This infographic (created by my friend from Intelegain) is a subject of research and analysis of many entrepreneurs, companies and institutions. These 15 factors won't make you a brilliant entrepreneur right away, but you will definitely learn valuable insights and will see mistakes you can avoid easily. View at https://startupradius.com/infographic-15-success-factors-for-entrepreneurs/

    submitted by /u/bmwpaul747
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    Idea for social media page moderation

    Posted: 29 Oct 2018 01:50 PM PDT

    I'm a wantrapreneur currently working as an engineer at Facebook on the team for small- to medium-sized businesses. I've spoke with a few companies and they mentioned that they have trouble moderating their facebook business pages. I'm thinking about building something out like a subscription service: you pay $X a month and we'll remove any posts matching your requirements.

    If you run an SMB, is this a service you'd be interested in? How much would you pay a month? Would you want additional services like interacting with customer posts or just simple moderation?

    submitted by /u/malepolished
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    October Review (Revenue & goals)

    Posted: 29 Oct 2018 05:02 AM PDT

    Monthly Revenue - $4,315 (+$249)

    Freelance Design: $1736 Side Projects (Below): $2,579

    The revenue is a combination of sales from my side projects:

    GrowYourClicks _ Total Revenue: $1,769 (Up $691 from Sep)

    Cooee Network _ Total Revenue: $0 (Down $199 from Sep)

    MouseCrafted _ Total Revenue: $412 (Up $32 from Sep)

    Desket _ Total Revenue: $228 (Down $172 from Sep)

    WorkForThem _ Total Revenue: $99 (Down $150 from Sep)

    Five Ideas a Day Ebook _ Total Revenue: $71 (Down $206 from Sep)

    Highlights:

    • Migrated my schedule from Trello over to Notion and loving it so far, really helps me stay on top of everything.
    • Gained 80,700+ followers across my network (Instagram, Twitter, Pinterest, Twitter, Tumblr, Facebook), which means a bigger audience to sell my products too. Currently sitting at 1,805,437 followers.
    • Added a new course to GrowYourClicks - DRIBBBLE MASTERCLASS – A step by step course on how to grow your Dribbble account the smart way.
    • My Instagram account DesignersHumor is really starting to grow, so hoping it will go viral soon.
    • Cross promotion of my sites on each other as backlinks are really starting to take effect

    • side note * My freelance job rolled into October which I'm not complaining about BUT it did take up a fair bit of my time, as a result, my side projects took a small hit.

    November changes:

    • Keep focusing more on MouseCrafted growth - Really focus on growing my presence on Dribbble & Behance
    • Focus on growing my Facebook/ Instagram
    • Also, revisit Cooee Network landing page, I don't think businesses fully understand the value they are getting for $199.
    • Time to redesign my own personal website (I said that in October but was mad busy)

    Feel free to as any questions :)

    submitted by /u/cooee
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    Guys we made a what’s app group for young entrepreneurs. Whoever is interested should join. Everyone’s welcome

    Posted: 29 Oct 2018 12:53 PM PDT

    Building a World Class Startup Culture!

    Posted: 29 Oct 2018 12:44 PM PDT

    Hey everybody! I'm a student digital entrepreneurship in Barcelona. Here is my summary of a great video by Vishen Lakhiani on how to build a world class startup culture. This video gave me the most practical advice I have ever received on how to build a great culture for your startup!

    I am working on a project but before I put more time into it I want to validate if there is actually a market for it. I made a short survey that will take you 1min to fill in. For everyone that wants to help me out, here is the link: (https://www.surveymonkey.com/r/KMBDZ9X)

    Thanks in advance and enjoy the summary!

    Building World Class Startup Culture

    (https://www.youtube.com/watch?v=DVz6c3qkzGk&list=WL&t=192s&index=1)

    Simon Sinek (author of 'Start with why'): "people don't buy what you do, they buy why you do it"

    Real talent doesn't care about job ads that talk about what you do, they want to know why you do it

    What do people really want from a job?

    · Growth

    · Happiness

    · Abundance

    · Contribution

    Application process:

    Resumes are silly, ask for a simple 3 minute video cover letter if they want a job.

    à only really committed people will make a video and saves you a lot of time of going through resumes.

    Finding the right fit:

    1. Hire for attitude, train for skill
    2. Have an incredibly high bar for talent and never compromise

    · Create an imaginary bar of awesomeness (a bar that shows the average amount of awesomeness in the team) and ask yourself is this person falling above or below the bar. If they fall below the bar don't think about hiring them.

    · Will this person raise the overall bar of awesomeness within my company?

    1. Recruit friends of existing hires

    · Spend the money you would use for job ads on making a party. Give 2 tickets to every employee of the company. 1 for themselves and 1 for the most brilliant person they know.

    · Let your employee introduce their friend and recruit new talent through parties

    Define values:

    Make a code of awesomeness

    Example: values of Mindvalley

    We

    · Dare to dream big

    · Evolve through learning

    · Are positive and passionate

    · Practice transparency & candor

    · Help others rock their greatest lives

    · Turn customers into raving fans

    · Are grateful and celebrate life

    · Kick serious ass

    · Are money magnets

    · Honour our words with actions

    your common code helps you speed up decision making

    Happiness:

    "It turns out our brains are literally hardwired to perform at their best not when they are negative or even neutral, but when they are positive."

    What makes us happy?

    · Flextime and engagement

    o Of the workplace benefits Gallup studied, flextime yielded the strongest relationship to overall wellbeing among the employees

    o This means ditch the idea of '9 to 5'

    · Social support

    o Have lots and lots of social events and parties

    o People love what they do largely because of who they do it with

    § Gallup found that close work friendship boost employee satisfaction by 50% and people with a best friend at work are seven times more likely to engage fully in their work

    · Positive moods

    o "Studies have found that when leaders are in a positive mood, their employees are more likely to be in a positive mood themselves, to exhibit prosocial helping behaviors towards one another, and to coordinate tasks more efficiently and with less effort."

    o At Mindvalley they organize culture days. Once there are 5 people or more in the company from a specific country there is one day a year dedicated to a specific culture. This can be done around other subjects than countries: heels, dresses, hats,...

    Growth:

    "Leadership is recognizing that we are all one. That every person you lead is as brilliant as you, as talented as you, and has the same capacity for growth and accomplishment. They simply need to be reminded of this fact."

    How can we encourage growth?

    · Total access to education

    o Free amazon accounts! Let employees make a book list and buy the books.

    · Learn day

    o Dedicate one day a month to pure learning

    o Employees can take turns to teach a subject to each other

    o Encourage people to consistently learn on the job

    o "If you were to give me 6 hours to chop down a tree, I would spend 4 hours sharpening my axe."

    o Give employees the time to get better at what they do, this increases the quality of their work

    Meaning:

    "If you want to build a ship, don't drum up people to collect word and don't assign them tasks and work, but rather teach them to long for the endless immensity of the sea."

    "It's all about finding and hiring people smarter than you. Getting them to join your business. And giving them good work. Then getting out of their way. And trusting them. You have to get out of the way so YOU can focus on the bigger vision. That's important. And here's the main thing. You must make them see their work as a mission."

    How to give meaning to a job?

    · A strong mission

    o Give your employees bigger problems so that the little things seem insignificant. When you do this you have given them a gift because you have made them shift their focus from stuff that makes them mediocre to stuff that can make them legendary.

    · Continuously remind people of this mission

    o Make a blog about what the customers are saying about our products to create a boost of engagement for the employees.

    Significance:

    People think they want abundance, turns out they don't. We think people take a job for a salary, turns out it's not important. Once your needs are met, salary isn't important.

    What people really want is significance. You think you want the higher salary to buy that fancy car, but really you want the fancy car to feel significant.

    Pay people the industry average + 10% and give them significance

    How to give employees significance?

    · Appreciation

    o "Like flowers flourish on water, people flourish on praise"

    o Create a simple way for employees to give a message of appreciation through gifs, memes,…

    o Find a way to engineer appreciation in your company

    o Let everyone create a bucket list for the 3 most important questions and hang it up in plain sight

    § Experiences/objects

    § Growth opportunities

    § Contribution to the world

    o Go through the list of everyone and find out how you can help your employees reach their goals.

    "my supervisor, or someone at work, seems to care about me as a person."

    à People who agreed were found to be more productive, contributed more to profits, and were significantly more likely to stay with their company long-term.

    2 big culture strategies

    Team retreats:

    1 day a year Mindvalley goes with the whole team on a trip to a resort.

    Things done at a team retreat:

    · Hack your department

    o Question the way things are done

    o Create new ideas

    · Hack the business

    o New business ideas to grow into

    Team retreats create:

    · Happiness through fun and bonding

    · Growth through trainings

    · Opportunities to reinforce meaning

    · And feelings of significance by being rewarded

    All hands on deck meeting:

    Meeting where everybody comes together and the founder tells all the awesomene things that happened the last 7 days.

    · Celebrate victories

    o Share stories from happy customers

    o New high scores

    o Bell of awesomeness (a bell you can only ring if you did something really awesome)

    · Envision the future

    submitted by /u/Robrechtlr
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    Media Groups running YouTube channels

    Posted: 29 Oct 2018 12:38 PM PDT

    I am not an Entrepreneur by any stretch of the term. I work a desk job, 8-5 M-F. That being said, I am very interested in learning about entrepreneurial endeavors and the people that pursue them. One that I've come across is the YouTube channel Linus Tech Tips. Linus is the head of the channel (as well as a few other channels) and every so often they mention Linus Media Group. A parent company of sorts that they've created to envelop all of their channels and other endeavors. Here's my question. Why would you need to create a "media group" to run YouTube channels? I could see an LLC or something to cover yourself, but isn't a media group a bit overkill, or is it genuinely a smart idea?

    submitted by /u/connorbrown326
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    Canvasing Via Google Form for Entrepreneurship class: Please Help!

    Posted: 29 Oct 2018 08:47 AM PDT

    Hey all, I have to canvas a startup idea I've been developing for an entrepreneurship course I'm taking. I would really appreciate it if any parents with children 12 and under would fill out this google form! Thanks :)

    https://goo.gl/forms/L1NBGzRgssXilAW22

    submitted by /u/xSquittles
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    Virtual Assistant that would love to help

    Posted: 29 Oct 2018 12:32 PM PDT

    I ended up losing my day to day job a couple weeks ago, and was looking to see if anyone needed a virtual assistant here. I have experience in e-commerce, content writing for product descriptions and email marketing, data entry, proofreading, translation , customer service, and social media management, a small amount of seo writing. I also speak English, German, and Russian fluently. I will happily work as many hours a week as you would need.

    I also have experience in growing social media accounts (specifically on Instagram with niche accounts) 10k organic followers in a month without investing money.

    I have been freelancing on the side for a solid two years now. But with the loss of my day to day job, I'd like to make this full time if possible. If anyone is looking to hire, let me know.

    submitted by /u/snailscrawl
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    Please roast me if appropriate

    Posted: 29 Oct 2018 12:24 PM PDT

    I have a few fairly solid ideas for viral marketing campaigns. How could I go from where I am now to getting commissioned by big companies.

    submitted by /u/loopdaloopz
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    Disrupting the soccer world with blockchain - Forbes article

    Posted: 29 Oct 2018 12:24 PM PDT

    Just started my dropshipping/ e-commerce business, any tips?

    Posted: 29 Oct 2018 12:12 PM PDT

    I recently started dropshipping, and I seem to have everything somewhat covered except for creating effective and high-traffic sending facebook ads, or even advertising my store in general. Any tips regarding this or anything e-commerce related would be much appreciated!

    submitted by /u/snobiety
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    Looking for a business partner for 2D comic cartoon (animation skills required)

    Posted: 29 Oct 2018 11:32 AM PDT

    The cartoon is about a Lion who has a deep connection with the Unconscious (read Carl Jung) and its archetypes and is constantly 'tripping'/ seeing the divine/mythological in every situation/character he meets and is also deeply concerned about social issues and politics but cannot manage to have the courage/skills to solve them. So he turns to her sister, an extroverted Ram (goat), who likes partying, cars, weapons, etc (materialistic rational life). Toghether they go on adventures. If interested pm me or post here and I can send you the screenplay for the first episode. I am thinking Youtube as the appropiate media but if we are good enough we can find a TV/Netflix spot. About me: I study cinema in Florence, Italy. I have written theatre playwrites, and short stories. I have a lot of imagination and have a good, unique sense of humor that I think could be best transmitted through a cartoon, as it is a very flexible art. I will write all the episodes, create depth of character personalities and keep it all comical, while at the same time shedding some light on world current issues.

    submitted by /u/abraxas171
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    Anyone need to advertise their company/product?

    Posted: 29 Oct 2018 10:59 AM PDT

    I run an Instagram account with 40k real engaged followers The account is @zekefeed DM ME ON @zekefeed (Instagram) to contact me I am selling shoutouts via story or post. You will have 5-20,000 people viewing your brand Thank you, just a hustler who put in the work

    submitted by /u/Sammysupremenyc
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    Stable £40K job or set up my own digital marketing agency

    Posted: 29 Oct 2018 04:52 AM PDT

    The background:

    I'm currently in a £38K/year job but will leave before or by the end of 2018 due to a company buyout and a change in my job role that I didn't agree with and harmed my career prospects.

    I'm now on the verge of being offered a new +£40K job at a digital marketing agency as a senior manager, a good step up for me in my career allowing me to manage & grow a team and company revenues.

    On the flip side, an old college friend has always been wanting to utilise my digital marketing skills for his clients. He introduced me to his business partner who also has his own business and this guy is also interested in utilising my skills. We've had around 4 meetings about setting up our own digital marketing agency from scratch. Now it's decision making time.

    The dilemma:

    I'm gonna assume the majority of business owners have been in the situation where they weighed up the risk of leaving a stable income to one that would be unstable at the beginning. This new company would have zero clients initially but access to the contacts of the business partners who run a design company and a printing company. They have clients asking about digital marketing services so there are quick wins in this area.

    1. Has anyone been in this sort of situation where the company is starting with £0 income rather than building something that used to be a side business alongside your fulltime job and had income coming in? What made you take the risk? Was it worthwhile?
    2. Secondly, there are three people within this potential new company including myself and they have offered a 3 way equal split in the company. I feel like I should maybe get more of the split seen as though it's my skills that are needed for this company and most of the effort will be done myself. The other guys are bringing access to a client base that I would not have otherwise and bringing their own business expertise and experience that I don't have. One of them will put up any initial up front costs (maximum £5K). I'll be doing all the digital marketing work, meeting and pitching to new clients, managing the business, etc. Is this 3-way split fair?
    3. Should I take the easy option of a stable income and take the other job?

    submitted by /u/zm1991
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