Accomplishments and Lesson Learned Friday! - (December 07, 2018) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (December 07, 2018)
- The template I use to write FB ads that tend to get clicks/sales
- How I made a website, a profit, and a healthy habit—in three weeks:
- Are there any commission based digital marketing agencies for eCommerce stores out there?
- I have an online store with an affiliate program, how on earth do I get people to find me/sign up?
- Trying to put together social media strategy and develop reasonable goals/metrics; looking for guidance and feedback (also posted in r/startups)
- Local meal prep service seeks retail products for upsales and use of shopify/facebook audience
- How do companies enforce punctuality?
- 4 Common Mistakes Startup Founders Make With Their Board Of Directors
- What does income look like on instagram affiliate marketing?
- Is influencer marketing dying. What are your techniques to stay ahead of the curve?
- Can someone give me feedback on my idea and LP?
- FEEDBACK or SUPPORT
- How to reliably post high performing content on Instagram
- When should I form my LLC?
- Labels for imported product
- Content Creation | Fashion Industry
- When does the spike in christmas sales end for you?
- You have $20,000 and one month. How do you turn a profit?
- Suggestions appreciated - starting a consulting business
- College is done in a week.. mix of emotions with going full time on my app
- Given the recent arrest of a Chinese executive is it still safe for American entrepreneurs traveling in China?
| Accomplishments and Lesson Learned Friday! - (December 07, 2018) Posted: 07 Dec 2018 05:06 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]  |
| The template I use to write FB ads that tend to get clicks/sales Posted: 07 Dec 2018 04:39 AM PST I audit a lot of Facebook ads accounts, which means I get to see what works and what doesn't across loads of different industries, countries and ad types. By far, the most common area for 'big potential improvements' is the copy in their ads. For example - I took on a Gym as a client in the summer who had never managed to make Facebook ads work, despite having all the 'assets' in place (nice website, big social following, loads of photos & videos, a good facility, great reviews, admin team to handle leads efficiently…). We had a short timeline to get ads out, so all I did was re-use their existing visuals, package up one of their popular classes in a new way, and write new copy. That campaign brought in around 120 leads in 3 weeks for under £4 a lead, and then we had to shut it down because the classes were full. Here are the most common mistakes that I've seen in the accounts I've audited this last few months, and then the fairly simple way that I approach writing a new advert. \Note, I'm not a professional copywriter, I have hired a few great copy guys in my time, who's ads generally do outperform mine, but what I've learnt to do is like the 80/20, 80% of the results for 20% of the time/ money invested.*
So HOW DO YOU WRITE ADS? Copywriting is a thing that people spend decades trying to master, so don't worry about emulating the pros, and instead keep it simple and follow a few rules. It's not about writing award winning ad copy, it's about being able to come up with a functional group of words that connect with the reader and get them to take action My favourite 'template' for quickly writing ad copy (or any copy) is the 4 why's: (This I learnt from the wonderful Colin Theriot, who runs a FB group called the Cult of Copy) Answer these questions (in order) that the reader is asking in their heads.
That is going to cover your bases.
There you go - you won't become Claude Hopkins overnight, but you'll do better than 90% of your competition. [link] [comments]  |
| How I made a website, a profit, and a healthy habit—in three weeks: Posted: 07 Dec 2018 06:34 AM PST In late 2016, after my nth failed attempt at being an "entrepreneur." I fell into a deep slump. I thought I was so smart, the people around me liked my ideas, and if they didn't? Well, they just didn't get it. I'd wriggle out of any critique and always have an excuse for why something hadn't worked—I'd tell myself I was learning as I went along—I wasn't. Eventually, thankfully, I was humbled and realized why I had been failing all this time: I had no fucking clue what I was talking about. (about anything) So I quit everything and bummed around for a year—I watched every episode of Frasier—it was a dark time. I had this pile of books I'd meant to read, a pile I hadn't touched in over a year. (It's late 2017 now) But something compelled me to pick one up—maybe my wifi stopped working—I can't remember. That book was Thinking, Fast and Slow by Daniel Kahneman. It's about traps in our thinking, biases, and how to be happy. It's excellent—every other page contains some revelation about our stupid brains—it exposed so many flaws in my thoughts. I read many more similar books and the number one lesson I learned was: to stop relying on willpower and to start tricking myself into getting things done: e.g.
Then three weeks ago I set myself a public challenge. Make a website in 21 days that makes enough money to feed my dog. A challenge I'd have to complete or else prove the nay-sayers right. (Just random people on Reddit, but still.) That gets us to today. The three weeks is up, and I've completed the challenge. Here's what I did: This whole thing started from reading—something I still don't do enough of—so I started a book club, forcing me to read more and helping others do the same. Every two weeks, starting in 2019, we'll read one of the books most recommended by tech entrepreneurs—and if someone chooses to buy a book through the website, I'll make a small profit. Pre-launch, it already has 21!!! signups and made $7!!! which is about one week of dog food. But today is launch day, and I'm hopeful a lot more people will join. Here's the website: https://thestartupbook.club I'm still pretty clueless, but two years ago I would have ignored help; I wouldn't have accepted any critique, and it would have taken me months longer. Now, if it fails, I'll be able to sit down and work out exactly why—and try again. [link] [comments]  |
| Are there any commission based digital marketing agencies for eCommerce stores out there? Posted: 07 Dec 2018 12:56 PM PST I have an eCommerce store and a currently quite small budget. Is there a digital marketing agency that would help generate sales and take a % of every sale rather than be paid a large monthly sum? At least at the beginning; I'd like to be able to pay a monthly retainer soon. Also, is there a name for this kind of agency? Thank you! [link] [comments]  |
| I have an online store with an affiliate program, how on earth do I get people to find me/sign up? Posted: 07 Dec 2018 09:03 AM PST So i'm running an online store selling products between $50-$90, im offering 20% commission on each sale they influence with a 30 day cookie period. My only problem is finding people to sign up, is there a particular place/website to advertise it or submit it? Thanks in advance. [link] [comments]  |
| Posted: 07 Dec 2018 02:19 PM PST TL;DR - please check out my Instagram and critique my posts; let me know what a reasonable expectation for follower growth is; critique my strategy! If you have any questions about the business feel free to ask as well. Looking for some advice on our current social media strategy (Instagram mainly) and what kinds of goals/metrics I should be setting. Hopefully I can lay this out clearly, please let me know if there's any clarifications needed! At this point on a Friday my brain is a little fried. My startup is called Sidebar and we provide live customer to customer chats for ecommerce retail sites. We've got a twofold approach right now: the first is B2B, trying to sell to brands. The other is trying to establish more of a C2C community. We're trying to cultivate a community where people can "share what they love" (products and services), and where consumers can search for customer reviews and also chat live with people who actually own those products. Initially, we will be compensating the "ambassadors" for the conversations that they're having. End goal is to be able to approach brands and say, hey, we've got these awesome customers of yours converting new shoppers by sharing their experiences with your products, why don't you throw them right on your site to increase conversion even more? One critical thing we need in the beginning are the ambassadors. We have an Instagram account (@sidebar_ambassador_community) that has a link in our bio to sign up to become an ambassador. Our posts generally include some kind of brand (someone snowboarding with Smith Optics goggles) and our caption is along the lines of "do you love your Smith Optics goggles? we're hiring ambassadors to share what they love. Hit the link in our bio to sign up". Another thing I'm trying to do is gain followers (obviously). I've scoured tons of sides (and subs) for advice and strategies, and here's where I'm at right now: + Post 2x per day; utilize all 30 hashtags making sure that 10 describe and speak to the photo, 10 support our business services, and 10 address the needs of our audience. Using the 3/4/3 method within each of the 10: 3 hashtags with 0-10k posts, 4 with 10-500k, and 3 with 500k+ + Engaging outside our page: following advice from u/RossDCurrie to spend 5 minutes 6x per day finding top hashtags in our niche, and commenting on the photos of someone who has commented on those posts. Also trying to comment on posts by the brands we're following/targeting. Final thing I'm trying to figure out is what kinds of metrics/goals I should have. I'm super novice at the business side of social media; based on my strategy what kind of growth should I expect? Is 50 new (real) followers per week reasonable? Should I be shooting for 100? What other things should I be tracking and setting goals around? Likes and comments? Not sure what is actually meaningful and important for these kinds of pages. Thank you in advance!! I never really realized how much was involved in this and I feel like I'm floundering! [link] [comments]  |
| Local meal prep service seeks retail products for upsales and use of shopify/facebook audience Posted: 07 Dec 2018 12:54 PM PST Hello, i run a small meal prep business in a town of about 8000 people. I currently started a new loyalty program with many features that I think will incentivize repeat business and hopefully reach more potential customers. Part of this loyalty program allows sending a special deal to customers that will go to a landing page, currently my meals are for pick-up locally at my storefront. I would like to find some retail products to sell to the customers I already serve, as well as a product I could sell online through facebook, instagram and my shopify site. If possible I would like to stay away from protein shakes/supplements, as i have a good working relationship with a few local gyms who sell these items (they advertise for me for free) and I would like to keep these relationships strong instead of competing with them on the supplement side of things. Also, if you can think of any great online resources for shipping perishable food, i would like to offer shipping in the next 1-2 years. Thanks [link] [comments]  |
| How do companies enforce punctuality? Posted: 07 Dec 2018 04:46 AM PST I have a huge problem with my workers, always 5-10 minutes late and I have tried to talk with them several times. What are some legal/effective methods that companies used to enforce punctuality? [link] [comments]  |
| 4 Common Mistakes Startup Founders Make With Their Board Of Directors Posted: 07 Dec 2018 11:53 AM PST Founders can utilize their board of directors as a vital resource if they avoid a few common mistakes such as:
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| What does income look like on instagram affiliate marketing? Posted: 07 Dec 2018 10:33 AM PST How much can you expect once you have X amount of followers with decent engagement? I realize this is a very vague question but any answers would help [link] [comments]  |
| Is influencer marketing dying. What are your techniques to stay ahead of the curve? Posted: 07 Dec 2018 05:33 AM PST I think a lot of people have a misconstrued idea of what influencer marketing is supposed to be used for, and how it's supposed to be used. I think most people just think it's paying a celebrity or influencer to display your product on the media, however, if not done correctly, it won't have the proper effect, due to the congestion and oligopoly control in the market. With Facebook/Instagram controlling the distribution of how many people see your content on their feed, even going through traditional channels now a days can be a challenge, since you have to not only pay the influencer, but the distributor (FB/IG) as well. To make matters worse, neither FB or IG has any publisher monetization built in, so it's not like you can get paid from the reach your post has. Even so, 72% of brands still have it in their budget, so there has to be something to it. This article does a decent job laying out a lot of these issues, however I don't think it fully answers the problems in its entirety. There has to be more ways to improve this means of marketing. Do any of you have any uncommon knowledge techniques that benefits your business while using influencer marketing? Or do you think it's a dying trend? [link] [comments]  |
| Can someone give me feedback on my idea and LP? Posted: 07 Dec 2018 03:37 AM PST https://www.producthunt.com/upcoming/marketco ; https://marketco.me Do you think that kind of platform will be useful? [link] [comments]  |
| Posted: 07 Dec 2018 01:11 PM PST hey can you come by my channel and leave some feedback or support youtube is my dream to do i just need some help https://youtu.be/zWzQG6piUdE [link] [comments]  |
| How to reliably post high performing content on Instagram Posted: 07 Dec 2018 10:59 AM PST Fuckjerry (14.1m followers), Bitc.h (5.3m followers), Buzzfeed (4.4m followers), Elite Daily (2.6m followers) What do all of these accounts have in common? Their Instagram posts are almost exclusively reposted viral tweets. It is obvious why this is an effective strategy - if the tweet has performed well on Twitter, it will likely also perform well on Instagram, as long as it is "on brand". Reposting tweets basically eliminate the risk of the post doing poorly. This is not just an effective strategy for the big meme accounts, It is a reliable way to have high performing content regardless of your account size or category. Here are some smaller, more niche accounts utilizing the strategy: itsfeminism (354k followers), Mental Health page (16k followers), Vegan restaurant (17.5k followers), British memes (26.7k followers) After noticing this trend I began to wonder how these accounts went about sourcing these tweets. It turns out they mostly find them from other accounts on Instagram. Being familiar with the Twitter API I thought I could make a tool that would help people source these tweets more quickly and effectively. The result is xZeitgeist and it categorizes and ranks the top tweets, every day, making it simple to find the most popular "on brand" tweets. If you're interested in giving it a try just enter the promo code "reddit" at checkout to get the first month free. Also please note that the best practice for reposting tweets is to ask the person who made the tweet for permission to repost and then tag the creator once the post is made. [link] [comments]  |
| Posted: 07 Dec 2018 04:19 AM PST The Short Answer: Its a common misconception that the first step when you have a business idea is to form a LLC. LLCs are fairly simple to create but can get expensive with annual fees in some states and they are a nightmare to dissolve if you end up shuddering the operations. You should operate as a sole proprietor until you start taking on more risk from a liability standpoint than you are willing to absorb personally or when you want to bring on a co founder or partner and formalize an operating agreement. In some cases I recommend keeping a personal LLC active with a general name that is not limited to just one of your business ideas. This can act as the home of all of the new businesses (as long as there are not partners involved) and can limit liability along the way. Expanded Answer: The sole proprietorship is great and can be utilized by some entrepreneurs for the lifetime of a business. You can operate as a sole proprietor quickly without a lot of paperwork, fees, or reporting. Simply file your doing business as (DBA) name with your state agency and you can open a bank account and get insurance policies. Sole proprietorships can even obtain an EIN fairly simply and start hiring employees and running payroll. Advantages of the Sole Proprietorship: Less reporting. When you file an LLC you are often required to report new hires, report sales tax, report payroll, pay an annual fee and more. Dissolving an LLC if you decide to shutter your business is also a big process and there are several forms to submit and agencies to notify. Staying organized with finances is something I preach but is often overlooked and a sole proprietorship is much easier to keep track of. If you operate in a space with low risk of personal injury (like graphic design, accounting, photography, web design) and you do not plan to bring on partners you can operate as a sole proprietorship for a very long time without issues. Make sure to file for an EIN when you decide to hire employees and get your workers compensation insurance, etc. Advantages of the LLC: Limited Liability. Risk. You have a safety net between your personal assets in the event that you or your employee injures someone while on the job. If you are out driving large vehicles and operating equipment that is dangerous (even a lawn mower) an LLC provides much more protection. If you have a lot to lose in the form of personal wealth, a home, etc you should form your LLC earlier if you are offering a service with some risk involved. Risk is the reason that Delaware is so popular for LLC registration. It has laws that protect the owners of companies much better in the event of creditors or personal injury attorneys chasing you down. Note: there are no tax advantages of an LLC in the early stages. You are still taxed in the municipality where you operate and do business. Make sure to register to do business in your state if you do form a Delaware LLC. Every LLC has an operating agreement and this makes it the necessary route if you have partners or co founders involved. I like to make sure my OAs have a buy sell agreement included. This states what happens if one person leaves, gets divorced, passes away or is otherwise forced to leave the company. I like to put valuation methods inside my buy sell so there isn't a bunch of time and money wasted arguing over how much the company is worth. 3x before tax income (after compensation to owners) is the formula I like for service businesses. I also like to include payment terms in the buy sell so it does not cripple the business with a large expense that isn't manageable for the other owners. With an LLC you have the ability to elect a few different tax treatments. This is fairly complicated and I'm not going to get too far into it here. Generally most LLCs elect to be taxed like an S corp and the income passes through directly to the owners in the form of income tax. Another option is to request C corp tax treatment where you are taxed like a corporation. There are advantages to this because some income can be taxed at the capital gains rate of 15%. But if you pull that money out later in the form of an owner's draw it gets taxed again on the personal level. You must be careful to avoid double taxation here. If you are interested in this dive into this book! The Personal LLC Entrepreneurship is a process and you often start and move on from several businesses before you find one that sticks. Many people, and I'm a proponent of this, create an LLC as a personal entity to limit the liability on all of the startups or small businesses they might pursue. I'm talking about small concept generation and exploring ideas without much revenue. They run all the finances for all the startups through this one entity and file a tax return for it each year. They create DBA (doing business as) names for each company as they go along and remove them as they shutter businesses. When they start a company that sticks they then change the name and focus that LLC on that business. I hope this helps and reach out if you have any questions! [link] [comments]  |
| Posted: 07 Dec 2018 03:32 AM PST Found a product I want to bring in from Europe. Just not sure how to handle the labeling. Do I tell the manufacturer I'd like to have custom packaging made up on his end or do I have him approve my label and put it over his packaging when it arrives to the US? The only thing I don't like about that's is someone can peel off my label and find my source and possibly cut me out. Any help is appreciated. [link] [comments]  |
| Content Creation | Fashion Industry Posted: 07 Dec 2018 01:30 AM PST Hi guys, What would be your best advice for producing content in the fashion industry for an underground brand? I am launching my brand tomorrow and I am struggling to find how to consistently produce great content to engage potential prospect on social media. Thank a lot for your help!! Ben [link] [comments]  |
| When does the spike in christmas sales end for you? Posted: 06 Dec 2018 09:07 PM PST From experienced retailers, entrepreneurs, and sellers of product. When does the christmas spike end for you? Because im debating on ordering more product from my main distributor. Ive done half the sales i did last month, in the first 6 days of December... Im just curious to hear anyones experience with this? [link] [comments]  |
| You have $20,000 and one month. How do you turn a profit? Posted: 06 Dec 2018 08:45 PM PST Chatting with friends over a beer, started coming up with all sorts of ideas from flipping cars and bankruptcy auctions to micro businesses like coffee carts and imports so chose an arbitrary month as a timeline. It's the holidays too.. any ideas anyone? [link] [comments]  |
| Suggestions appreciated - starting a consulting business Posted: 06 Dec 2018 10:28 PM PST I am starting a Crystal Reports consulting business. I am a CPA who has worked in the private industry over the last 25 years. My experience has been that most software packages and accompanying reports contain canned reports written by programmers who do not fully understand the needs of businesses. With my CPA and private industry background, I believe this is the angle I wish to pursue as far as marketing. I have tried signing up on some freelance websites, which is quite discouraging, as there are other developers in other countries charging the equivalent of US$ minimum wage. I know you get what you pay for, but that is my first question - is it even worth it to try getting serious business on freelance websites? My second question is now that I have set up my website, obtained all of the software I need and am ready to go, what are the best avenues for pursuing business? My last question - I am still employed full time for a mechanical contractor in Northern California. I probably should let them know that I am doing this on the side (for now). Are there any downsides or potential pitfalls here? I don't think my employer will mind as long as I am not soliciting or working for any direct competitors. I appreciate any input or advice. Thanks in advance! [link] [comments]  |
| College is done in a week.. mix of emotions with going full time on my app Posted: 06 Dec 2018 09:16 PM PST Hey Guys, This has been on my mind for a while. I have one week of school left before I graduate from college and it seems Im taking a huge leap. My app will be released by the end of this month to the first week of January 2019. I have thought about pursuing my app business full time for six months. But just the idea of this is quite overwhelming. Im not bragging but I just want to be blunt that I have a lot of internships so Im not really worried about landing interviews for full time jobs but I just want to know if Im doing the right thing. Do I work full time and work on this app on the side or work full time for 6 months fully and see where it goes with the app? This scenario is just different because now that Im going full time for a job its nervewrecking at the same time due to classmates and friends searching and landing a job. Sure you can say dont be a sheep and follow the herd but its a very big jump from here. I have so many different emotions going on now with being nervous, anxiety and being excited too. I have done a few businesses in the past but not to this grand scale of a level so it is quite scary. I believe in my product and have shown others too and have quite a huge subscriber list growing for the pre-release but theres that idea of "what if". (Ex. I have my subscription growing in interest but what happens if users dont download the app or users writing out bad reviews etc) Did anyone else go through this phase or anyone have some kind of word of wisdom/ tips? Thank you everyone! [link] [comments]  |
| Posted: 06 Dec 2018 09:08 PM PST Today a prominent Chinese executive was arrested in Canada at the request of the US, apparently for attempting to avoid restrictions on sales to Iran. It happened right after a meeting between President Trump and Secretary Xi which just makes it look like the US is playing China somehow. I don't know how often senior execs are arrested on politically hot charges like this but I'd bet on rarely. One possible response would be arresting an American executive or entrepreneur, possibly on questionable charges. China does have a history of detaining people when it finds that useful. I'm probably overreacting but I've always figured an angry government or population is more of a threat to the everyday guy than terrorism. This event did set off all my "uh oh, if I were in the country I'd call my travel people quick" alerts. If you are familiar with the situation
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