Accomplishments and Lesson Learned Friday! - (November 09, 2018) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (November 09, 2018)
- Are there any successful entrepreneurs who sucked at performing a particular job as an employee/consultant but who has become extremely successful doing that same thing for themselves?
- IT Challenges Fast-Growing Companies Face
- How to go from freelancing to a consulting firm with a $5-6k pm budget?
- Has Anyone Bought (Rather Than Built) Their Business?
- I am looking into starting a wedding invitation business (unusual invites).
- What are the products or services your business spends the most money on that you're the least satisfied with?
- What advice would you give to someone who is looking to set up their own business?
- Receiving a pallet shipment at my house.
- Starting a service business you can't always be around for?
- Online Business Idea Validation
- How did Alibaba attract users to their site and businesses to their site?
- Am I a fool for thinking that a mobile game app can succeed?
- I need some help concerning pricing as an owner of a web agency.
- When starting a new venture, do you talk to your CPA or attorney first?
- How can I make this service more useful?
- Starting a business
- Visualizing Amazon FBA Orders
- Anyone got any wechat contacts that sell stuff that you'd find in a pawn shop?
- Shopify :: Advertising with Reddit
- Host Website
- Name my remodeling business
- A perspective on how our workforce will be effected in the very near future
- Starting an online shop questions!
- Any consultants willing to share their (non-generic) advice?
| Accomplishments and Lesson Learned Friday! - (November 09, 2018) Posted: 09 Nov 2018 05:05 AM PST 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: 09 Nov 2018 10:33 AM PST |
| IT Challenges Fast-Growing Companies Face Posted: 09 Nov 2018 09:50 AM PST Hello entrepreneurs! Hope everyone is having a great Friday. I work with a company that has helped many fast-growing businesses keep technology on track and plan out their IT strategy to keep pace with the business growth. While explosive business growth is absolutely a great sign, it can be hard to maintain your technology and IT processes in line with that trajectory - especially if IT isn't your forte. IT problems fast-growing companies often face include:
Are there others your business has run into? Share your tech story and if you found a smart way to get around these hurdles. I wanted to also share this guide we put together on IT Challenges Fast-Growing Companies Face and How to Resolve Them. Its based off lessons learned from helping growing companies get around some of the struggles mentioned above. Cheers! Edited: for transparency and clarity [link] [comments]  |
| How to go from freelancing to a consulting firm with a $5-6k pm budget? Posted: 09 Nov 2018 06:38 AM PST So it's been around a few months, I am into the freelancing business (into AI/Machine Learning) and making around $5-6k per month (working part-time, I work full time elsewhere). Given this cash flow, I'd want to use the money to create a consulting firm. I'm just getting started and trying to get an overview of different things that are involved in setting up a consulting firm like marketing, sales. Any resources/advice on this is appreciated. [link] [comments]  |
| Has Anyone Bought (Rather Than Built) Their Business? Posted: 09 Nov 2018 12:22 PM PST I'm a web development contractor working through a limited company. Wages are good but not astronomical and I'd like to fortify my financial position by diversifying my income. For several years, I've been dabbling in various forms of entrepreneurship on the side of my main income but ultimately I'm reasonably cash rich and time poor. Earlier in the year, my wife and I purchased a tutoring company. My wife was working in the business and it was sold to us by an old school friend. It's been a great investment so far, demand is strong and there have been loads of opportunities for me to bring my web dev skills to bear on it. With that in mind, I'm interested in buying an online business at around the $200-$300K mark. I've been looking at a few this week and while there have been a few dogs, buying at this price range typically means a web business that's well established (+10 years old), with a stable income that would comfortably cover any repayments on the debt I'd have to take on to fund the purchase. There would also be some profit left over each month and after a couple of years I could either refinance to improve this margin. Yes, there would be work required to maintain/grow the site but at this price point, the sites are very often largely automated. Of course, there's a risk that something could go wrong (e.g. the site is too dependent on SEO and a Google update kills traffic) but you aim to minimise this in your due diligence and take steps to mitigate it if you purchase. All that said, I'm leaning heavily towards buying rather than continuing to try and build something from scratch in my spare time. How do you feel about building vs. buying? [link] [comments]  |
| I am looking into starting a wedding invitation business (unusual invites). Posted: 09 Nov 2018 03:34 AM PST Do people still send a hard copy invite/save the date? [link] [comments]  |
| Posted: 09 Nov 2018 11:02 AM PST I'm asking this because that seems to be an indication that something about the thing is extra important. If it's a bad purchasing or product experience but we choose to buy it anyway then we probably really want something. [link] [comments]  |
| What advice would you give to someone who is looking to set up their own business? Posted: 09 Nov 2018 01:17 AM PST This is directed at those who have managed to start up their own small business-what difficulties did you experience when first starting? How did you upscale your business? Are there any mistakes you made that you would make others aware of so that they can avoid them? [link] [comments]  |
| Receiving a pallet shipment at my house. Posted: 09 Nov 2018 02:29 PM PST I'm about to be starting my business here in about a week or so and will need to have the ability to receive pallets. Will I be able to do this at my home or do I need to need to rent a space to receive them? [link] [comments]  |
| Starting a service business you can't always be around for? Posted: 09 Nov 2018 10:40 AM PST I have read some very interesting success stories from people starting service businesses here. Everything from house painting to house cleaning and of course much more. Some of these I have read about people having several hundred thousand in revenues which is amazing and congrats to all of you! My current full time position is a tricky one and I work a 14 day on 7 day off schedule(14 days away from home) and I find it difficult to find my business idea because I worry about not being able to be around all the time unless it took off where I could do it full time. Has anybody here had a similar situation and started a business? [link] [comments]  |
| Online Business Idea Validation Posted: 09 Nov 2018 01:39 PM PST Years ago, after reading The Four Hour Work Week, I would spend weeks building a WordPress site and then spunk £100 in Adwords before panicking and turning the campaign off and feeling defeated. Since then, my approach has matured quite considerably. I set up a web development agency and was able to generate a decent amount of business via cold email but this was never significant and never really graduated beyond a side income for my main web development income, working on-site for freelance clients. Bulk, cold email has largely been a waste of time...as tempting as it is to get a list of 1000 would-be customers and pitch something to them. Cold-calling has also been a total waste of time for me, although I appreciate some folks swear by it. More recently, when trying to contact holiday/vacation rental owners, I've found that identifying them via a forum and then contacting them with a personalised cold email worked well but this was very slow-going and it turned out that I was way off the mark with my idea. That said, these owners are very obviously quite open to inbound enquiries and responding to them via email and I appreciate there isn't a hard and fast rule to getting hold of would-be customers. In the past, I felt like I built useless shit that nobody wanted. These days, I feel like I'm talking myself out of my ideas before actually getting anywhere with them. How much time and effort do you put into idea validation and how do you do it? [link] [comments]  |
| How did Alibaba attract users to their site and businesses to their site? Posted: 09 Nov 2018 01:00 PM PST How did Alibaba attract businesses and consumers to the site when they first launched? In his business model, it is very important to have both the consumer and business to make the system work. How did he get them both on board in the beginning? Without one the system wouldn't work. [link] [comments]  |
| Am I a fool for thinking that a mobile game app can succeed? Posted: 09 Nov 2018 12:45 PM PST Hi guys, let me set the stage for you. Maybe too literally. [Premise:] Since mobile games like Candy Crush and Flappy Bird were created, copied, re-booted, and beaten to death, its seems like the mobile game industry as a whole is saturated and difficult to enter. What would it take to make an strong entrance into the industry? [Scene:] A bunch of mid-twenties guys sitting playing board games and discussing work and life in a comfortable, if modest, living room. [Enter the Fools:] We had an idea for a simply mobile-based parlor game in a similar family as Taboo or Cranium. We thought "There's probably already an app for that", and began digging around for it on the app store. [The Plot Thickens:] We found a few similar ideas, with poor execution. Stifiling ads, unpleasant time-gated play with and incessant prompts for microtransactions. But the apps had hundreds of thousands of downloads each. We expanded our search to the web and found a few small, strong communities of similar games, but with poorly executed web-based platforms. [The Need:] "Well, if we want to play this, and a worthwile version of it doesn't exist, maybe someone else will too." We decided that after a couple hours of searching and not finding something satisfactory, there might be a mutual feeling among other people. [Conclusion:] it appears we have a solid idea, the motivation and means to develop it, and an apparent gap in a target market that we are knoweldgable about (people like us). Is this a fool's errand? Does my lack of experience with this industry mean I am going to miss a giant red flag because I didn't know where to look? Any advice from someone who has experience in mobile game development, creating and selling apps, and marketing new products would be awesome. [link] [comments]  |
| I need some help concerning pricing as an owner of a web agency. Posted: 09 Nov 2018 12:09 PM PST Hello! I have hard time pricing my services as a web agency offering solutions like devops, and web development. Can anyone guide me on how to approach pricing? [link] [comments]  |
| When starting a new venture, do you talk to your CPA or attorney first? Posted: 09 Nov 2018 07:58 AM PST Looking to form a partnership and I will have 85% equity, my partner will have 15% (he is well worth having on board and not a contractor). I will start to speak with professionals, but not sure which meeting I should have first. The partner would like monthly net income distributions if that makes a difference. [link] [comments]  |
| How can I make this service more useful? Posted: 09 Nov 2018 11:19 AM PST Hi, I'm looking for ways to make encyk.com more useful. Like more data on the results or make user accounts do something people need. [link] [comments]  |
| Posted: 09 Nov 2018 07:23 AM PST Hey there! For those who have started companies, how did you get the capital needed to actually start the company you have? If it was a loan from a bank were you able to get loans with bad credit? [link] [comments]  |
| Posted: 09 Nov 2018 11:05 AM PST I recently bought an FBA and I'm trying to get a better understanding of the business. During my due-diligence, I put together a really good P&L spreadsheet that showed me this business had some really strong skus that were consistent money makers. But, now that I'm making changes to pricing and advertising, I want faster feedback than my spreadsheet (which really only works month by month). So, I put together a scatter plot of my orders for the past 3 months and it worked really well! You can totally see the effects of the price changes I made in late October. [link] [comments]  |
| Anyone got any wechat contacts that sell stuff that you'd find in a pawn shop? Posted: 09 Nov 2018 10:45 AM PST |
| Shopify :: Advertising with Reddit Posted: 09 Nov 2018 10:31 AM PST Hi, I currently started a Shopify store, but I tried Facebook, which is not giving me the best conversions. So, in hope of having better luck on Reddit, can anyone tell me their experiences with advertising on Reddit their drop shipping products? How many sales did you acquire with Reddit Ads Is Reddit Ads more profitable than Facebook Ads? Facebook or Reddit Ads -- Which one works best? Please leave your thoughts in the comments! [link] [comments]  |
| Posted: 09 Nov 2018 10:19 AM PST Hi everybody. I'm about to launch a company for low cost marketing and content creation for musicians in the Boston area. Out of all of the business hosting web platforms, what have you guys had the most success with? Square space seems like kind of a rip off. [link] [comments]  |
| Posted: 09 Nov 2018 10:14 AM PST I am going to start by focusing on bathroom remodeling but as i grow i will expand to kitchens. Focus on mid to high end homes. ready go [link] [comments]  |
| A perspective on how our workforce will be effected in the very near future Posted: 09 Nov 2018 06:28 AM PST |
| Starting an online shop questions! Posted: 09 Nov 2018 04:00 AM PST I've read everything imaginable on these subjects and for whatever reason it's not clicking for me. You guys are knowledgable so I'll ask you guys about online shopping! I'm starting an online shop, using shopify with the printful app selling clothing etc... I have my niche and marketing plan done. Printful will be handling all my printing and shipping! and here are my questions! 1) Taxes. How do taxes work with shopify and printful? I looked at the settings for it and did the shopify academy and still dont get it! do they automatically charge the appropriate tax? 2) shipping rates. How do I align my shipping rates with printfuls? do they automatically give my shopify store printfuls rates for the order? 3) EIN number, Shopify doesn't require one but should I just get one anyway? any other pieces of advice concerning the legal, shipping or tax side of the online business I'd greatly appreciate! [link] [comments]  |
| Any consultants willing to share their (non-generic) advice? Posted: 09 Nov 2018 09:17 AM PST I have masters in engineering and have worked for 10 years. I have a bro who has masters in microbiology, another bro who is also a mech eng been working for 3 years, and a 4th bro at Waterloo 3rd year mech eng. I just thought that, we all work hard, we all consult (but our hours are sold by some other organisation, and we get a fraction of it). We have a wide array of skills, work ethic and experience (and super crazy, we live in 4 different countries Ireland (Dublin), UK (London), Canada (Waterloo), US (Chicago), and we all grew up together in South Africa. I have been trying to start a company by building a startup (learned to code and trying to build ideas as app) but (this sounds stupid, but it is the truth)... until this morning, I have never thought of going into consulting with the skills as an engineer with my brothers, and offering a low cost alternative to other consulting firms, until someone said it to me last night when telling about how spread out my fam is. I was all excited and thought about it all evening. Now this morning, I am not sure how on earth to actually get clients. I have done tenders on behalf of companies, and I have learned many different skills quickly, and developed solutions.... but I have no idea how to do the company myself in terms of getting that first customer. I can do all the admin, but I don't know how to gain a customer. Just advertise ? I have done fancy MBA case studies, and I ... well I don't want to list my skills, I just want to know how people went about getting their first clients - getting someone to trust us? I wouldn't trust us, because we haven't delivered anything as a company (even though we can (and do) all do high quality work for consulting firms that charge us out). I would appreciate any feedback, but particularly related to my question on starting from scratch without a name, in management and engineering consulting (management consultants are so often engineers, like me...) Thank-you in advance. I will repost in r/business . Anywhere else you think this could get answers? Thanks [link] [comments]  |
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