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    Monday, December 3, 2018

    NooB Monday! - (December 03, 2018) Entrepreneur

    NooB Monday! - (December 03, 2018) Entrepreneur


    NooB Monday! - (December 03, 2018)

    Posted: 03 Dec 2018 05:06 AM PST

    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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    How come YouTube doesn't shut these sites down?

    Posted: 03 Dec 2018 11:42 AM PST

    I recently read an article on NYT about the fake business of youtube views, likes etc. I am just astonished as to why YouTube has not shut sites likes 500views.com ? Is it because maybe YouTube is profiting as well from all the fake traffic they receive? The article is on https://www.nytimes.com/interactive/2018/08/11/technology/youtube-fake-view-sellers.htmlAny input would be appreciated!

    submitted by /u/ivfresh
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    When you're so close to giving up and quitting...

    Posted: 03 Dec 2018 06:54 AM PST

    ...And then you hear the ching sound from Shopify notifying you of a sale.

    I made my first $1 profit! I'm hooked.

    How did you make your first $1?

    When have you nearly given up and what happened afterwards?

    submitted by /u/EasyVacation
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    Cohort Analysis: how do you read it, how it is used to illustrate churn

    Posted: 03 Dec 2018 06:07 AM PST

    Cohort analysis helps you break down all of your customers or subscribers into groups that look alike in certain characteristics so you can see what impact they are having on your business.

    It is just one subset chart and tool used in the overall business intelligence community. Pretty much every business intelligence dashboard will give you access to a cohort chart for you to analysis your customer groups.

    It is typically used to illustrate churn more than any other data set - see the full article for a couple of cohort analysis examples: Cohort Analysis: WTF is it and how do you read it?

    submitted by /u/cmstrump
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    Free Basic Website

    Posted: 03 Dec 2018 12:10 PM PST

    Hey there,

    I'm a student/freelance web designer and I am free for the next couple of days.

    I'm willing to make basic wordpress websites for FREE in order to build my portfolio.

    If you are interested, pm me :)

    submitted by /u/mkgclub
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    Entrepreneur with $100k in student debt.

    Posted: 03 Dec 2018 08:21 AM PST

    Hi all,

    Every day I think about quitting my business (I do freelance web design/developing).

    I just want to pay off my loans so I can have some more freedom. Mental freedom. And some more financial freedom, the $1,100 a month in student loans doesn't make it easy to save and invest money.

    I figured I can make more by freelancing than working for a corporation. I get bigger takehome pay, I can work extra to make more money, it will be great!

    But indeed, it's fucking hard.

    In the 6 months that I've been doing freelance web, I've made around $1300 from paying customers. I've been living off the $20k I had in savings, and I'm starting to lose faith.

    My question is - how have you guys balanced your desire to get rid of debts, pay for the things you want, while building the life that you know you can build? Anything is appreciated.

    submitted by /u/penguiinbear
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    ALWAYS GIVE WRITTEN ESTIMATES

    Posted: 03 Dec 2018 08:57 AM PST

    Don't give oral estimates. Give written estimates and get a signature. Text messaging or E-Mail obviously works as long as there is a reply confirming.

    If you're new to this shit, and haven't experienced what we call "scope creeping" yet, I assure you that you will. You will get a customer that will keep trying to add work and end up draining your time and margins. You'll also get people who will outright try to not pay because they'll say you didn't do what is agreed upon. If you want to be extra thorough, always take before and after pictures in addition to the written estimate.

    My best friend started trying to imitate what I do this year, and I told him about a thousand times to always give written estimates. He just spent 8 extra man hours trying to appease some customer who is just rolling over him during their disagreements on what the scope of the work was. Don't be like him.

    submitted by /u/ubmt1861
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    Tired of Etsy - True Craft platform for Handmade and custom makers

    Posted: 03 Dec 2018 07:17 AM PST

    I'm self a taught custom wood and metal maker that started just over 3 years ago.
    I've started with custom knifemaking, blacksmith then moved to furniture and jewelery crafting.
    I have a passion of creating stuff with my hands and joined multiple communities that share the same mindset.
    By doing so, not only have I taken an admiration of other makers but met some makers that are truly out of this world with stunning pieces and they are completely under-rated.

    A big issue constantly discussed is... if you're not already succesfull/known or have a sustainable income with your own website then you are limited to using marketplace platforms like Etsy or eBay (lol). Although Etsy fee's are the lowest available, it still eats into your profits and they have gone up.

    But the most frustrating complaints coming from custom makers is the overflow of cheap stuff that is over-running platforms like Etsy (as an example). Vendors advertise and sell their items as "Custom" or "Handmade" but they aren't. They're also not the highest quality, and priced 75% cheaper than the average custom maker. Most of those come from Asian countries. You just can't compete with them.

    There has been discussions of people wanting a true craft platform exclusively for high quality handmade and custom makers. A platform similar to Esty, smaller, and exclusively handmade & custom makers with a minimum starting price of $50.

    I think it's a good idea. I think if a small platform (not of the same magnitude of Etsy) can be done with a scaling option then it could be tailored to buyers looking to purchase something little on the high and exclusive.

    What do you think?

    submitted by /u/Valhalleim
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    What's stopping you from starting your own business?

    Posted: 03 Dec 2018 09:19 AM PST

    Aiming at lurkers, such as myself.

    submitted by /u/n67
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    Advice on Buying and Selling Mortgage Leads

    Posted: 03 Dec 2018 12:56 PM PST

    Im looking for any advice or informations anyone could offer on this topic.

    I have come across someone trying to sell their business model of buying and selling mortage leads online to banks and mortgage companies.

    "No special skills are needed. I am including your own mortgage websites, clients to buy your leads, full training, set up, support and everything you need to start making money online with me."

    "Owner financing available with a $25K CAD down payment. You can pay with a down payment of $25,000 (split into 2 payments of $12,500)." "Payments are made on the financed $25K every month from the revenue your business earns. (I'm confident you'll make money)"

    What do you guys thin? Is this too good to be true ? I know only a little bit about the subject and thought this would be a good place to get some opinions.

    submitted by /u/FloydTheBarber69
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    Limited or Sole trader for my business (UK)

    Posted: 03 Dec 2018 12:26 PM PST

    Hello Reddit, I have come here for advice on what type of business my new business should be.

    I am 18 year old currently working as an apprentice making £513 a month for 32 hours a week. This is not enough money for me as I have bills to pay and I am young, I enjoy going out drinking every weekend haha.

    To help make me some more money I have decided to start me own business in web development along side my current job (Don't worry I have permission from my boss as our target markets don't conflict)

    Now I have the skills to produce quality websites I know I do simply from everything I have learned at my job and how my colleagues analyse what makes a good website. I have shown them some of the other web-dev companies that are around my area and they all agree with me that the websites they produce are awful for example they aren't even responsive in 2018...

    Now I have started building my website and it is just about finished I have my domain and server hosting. Now I need to either register my business as a limited company or go down the sole trader route but I can't figure out what is the best course of action.

    One of my colleagues also has a business on the side which is limited liability and we were discussing which plan would be the best for me. He said he paid £12 for his business to become limited and that if I was a sole trader I would need to pay for insurance to cover if someone tried to sue me. To me the £12 sounds like such a better deal, I am already low on money from all my bills so an extra insurance cost isn't really beneficial for me.

    I am pretty confident I can get a client base fairly quickly as my websites are cheap but very high quality. My profit margin on a basic website will be about 60% when considering how much I need to pay for server hosting + domain. The rest of the programming and design work I do myself.

    I hope this is enough information to go on and anything you can help me with is much appreciated. Please don't be put off by my age as it seems everyone I mention about starting my own business too treats me as if I am a child or instantly try to put me down or make it hard for me. A lot of this negative response has made me even more motivated to get a business of my own on its feet to show those people I can do it. Thanks Again.

    submitted by /u/You2Loud
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    How would you validate if there is a market for my idea?

    Posted: 03 Dec 2018 08:22 AM PST

    Hey, i been toying around with the idea of making a better reacher grabber for the disabled, and actually built a working prototype that makes people without finger strength able to use the tool. (they usually require a substantial force to be pressed)

    Before throwing money in this i'd like to see if there is a market for this, it's going to cost at least 5x the price of a amazon reacher grabber.

    What would you do to get a feel of the market?

    Picture so you get an idea of what the "product" is https://imgur.com/a/IcCtQTy

    submitted by /u/MrPink7
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    In many countries it's illegal to start a lottery business, which governments take advantage of because it's an easy cash cow (pay a portion of what people gamble). Are there any examples of "legal" lottery businesses that people operate?

    Posted: 02 Dec 2018 07:35 PM PST

    Meaning a business where a 1000 people will pay for something in the hopes that they receive something of far greater value than they paid, but the onus is they have a 1/1000 chance of getting it?

    Does that make sense? Basically, just out of curiosity, I'm trying to think of a business or product or something that operates this way.

    Like if I had to think of an old one I remember

    • Package of baseball cards sell for $5.00
    • in 99% of packages, the value of the cards are $1.00
    • in 1% of the packages, there's a card worth $500

    So if you were to sell 1000 packages, that would be $5000 - (1000*1.00) - $500 (jackpot package) = $3500 profit.

    That sort of thing...

    submitted by /u/bradman20
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    Changing career to being a fundraiser - getting started advice

    Posted: 03 Dec 2018 06:24 AM PST

    So, I've been a web dev for a while and done a bit of promotion, marketing and Social Media but mainly dev stuff. I've been looking to get into something niche or perhaps some peripheral or allied business because, tbh, have had enough of coding and updating skillset every year or so... just got bored so was/am looking for something new.

    Been thinking this for a few months when recently I got a client who asked if I ever did fundraising. Never have but said I could do it so I am going to go ahead with it - not learning on their dime, am giving them reduced rates and hopefully I can transfer some skills. I'd never thought about moving into this area but I have a friend who knows someone who does it and was talking to them (my friend) about it and they said they'd always seen me as moving into this area and was surprised I hadn't.

    So, my question is: what's the best way of getting into being a fundraiser? Is it like web dev where you just dive in and find your way? Or are there courses?

    Any help anyone can offer to point me in the right direction or any advice to someone wanting to get into this as a career would be great.

    Thanks!

    submitted by /u/segovius
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    Financing yes or no?

    Posted: 03 Dec 2018 09:13 AM PST

    I am considering adding a complementing product line to a service business I operate to capitalize on my website/facebook traffic.

    Product sell price is between 1500 and 2500$ I would expect in my first year my sales would be 35-65k.

    Should I consider adding financing as a purchase option to capture more revenue?

    I am not familiar with financing at all. Don't even know where to begin to research it. Any places to start or vendors would be appreciated.

    submitted by /u/Sumdumgi83
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    What audio books do you recommend?

    Posted: 03 Dec 2018 12:21 PM PST

    Ive been following this sub for a while and love it.
    Today I'm going in a long 9 hour travel and need some Audio book recommendations for entrepreneurial people.

    any recommendations?

    submitted by /u/Subz10
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    Website Critique: we just launched a small puzzle company and are looking for brutal feedback on the website

    Posted: 02 Dec 2018 07:26 PM PST

    MicroPuzzles.com

    More puzzle designs are coming - what could we do to make you want to tell everyone you know about our product?

    I know we launched early - pulling a page out of Reid Hoffman (Masters of Scale) playbook. But tell me the things my family won't. How important is an about us page? Do you "get" what we're selling. How much more and what kind of content do we need.

    We have landed a couple of travel destination customers - the website is our foray into ecommerce and retail.

    submitted by /u/FibInk
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    E-COMMERCE DISCORD SERVER - LEARN ABOUT E-COMMERCE (Recruiting Mentors)

    Posted: 03 Dec 2018 12:10 PM PST

    About Us:

    When I started e-commerce it was challenging to get sales. Through trial and error, I succeeded. It was complicated to find up to date information and not get scammed by gurus that is why I decided to open this discord server. To help others learn and succeed with their e-commerce business. Feel free to join. It does not matter if you are an expert or a newbie. Help each other and exchange your knowledge to improve everyone's e-commerce business experience.

    https://discord.gg/m3Tfb3z

    Update: We have formed a small community and have recruited new mentors! We are looking for experienced e-commerce masters to become mentors in our discord.

    Wanted Mentors:

    Wish E-commerce Mentor

    Amazon Mentor/FBA

    Marketing expert mentor

    S.E.O Mentor

    Shopify Mentor

    submitted by /u/hotbox32
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    Has anyone here tried the Sam Ovens Consulting Accelerator program? Please only respond if you have or know someone who has done the course.

    Posted: 03 Dec 2018 11:57 AM PST

    I just watched his lead generating webinar and it sounds like there is some actionable and valuable components to the course. The reviews seem mixed, he has a lot of positive video testimonies then a small but loud group of people claiming he's a scam. It's easy to take a glance at these things and label them a scam, which is why I'm only interested in hearing opinions from people who have actually done the course.

    submitted by /u/bigsum
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    Could use some help.

    Posted: 03 Dec 2018 11:45 AM PST

    I need to get a 20k bridge loan until some of my larger projects pay. Cashflow has been horrible the last 4 months I've reduced staff and basically gone through the majority of my emergency funds. I have 145 k in AR that should come in the next 30-60 days just need to figure out how to get there. Any suggestions?

    submitted by /u/franklloydgandolph
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    Best free resources for patent search and support?

    Posted: 03 Dec 2018 11:40 AM PST

    I apologize in advance if this has been asked before.

    I am looking to develop a prototype with a local 3D print shop. Before I move forward, I want to make sure that this is not infringing upon an existing patent. I could not find anything remotely similar on the Google Patent database but still want to continue researching as much as possible. Do you have any advice/tools/recommendations based on your experience? Thank you!

    submitted by /u/coolbreather
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    Survey for creative individuals

    Posted: 03 Dec 2018 11:15 AM PST

    Hello Everyone

    We are a team of graduate students from the University of Maryland, College Park and we're currently working on designing a platform to teach creative individuals about business. We figured that this subreddit would be a good place to post it since the entrepreneurship community is filled with creative individuals.

    The survey is at the following link: https://umdsurvey.umd.edu/jfe/form/SV_0p9ryO6pB28dJTn

    We'd love it if you could fill out this survey that asks about your experiences.

    Thanks!

    submitted by /u/tmunzar
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    I've recently turned this entrepreneur(SHIP) around - A copy writing semi success story

    Posted: 03 Dec 2018 10:47 AM PST

    This is not a story of wild success. Just a story of an entrepreneur grinding away and seeing some light.

    So I have been bouncing around all over the goddamn place on this journey to financial freedom. I've gone from being forced to resign from a corporate job for being 1-3 minutes late about 15 times in a year. To having a few hundred grand and earning a bit of money as a social media influencer. To being totally broke with no income.

    I'd usually never be so self deprecating as to call myself a wan-trapreneur but in my come to Jesus moment, let me be very clear. That's exactly what I was doing.

    Blowing loads of cash on businesses that I just did not follow through with. Having some great fucking ideas that just did not pan out for one reason or another. (Discipline)

    The one saving grace during this process for me was learning a lot about many different online businesses in a rapid period of time. You guys already know them, e-commerce, affiliate marketing, etc. etc. etc.

    The main requirements for me during this process were, I cannot be on a punch clock and I need to be able to travel when and where I want with enough money to do so.

    With no job, and nearly depleted savings and drastically rising debt. I decided to make a change. Out of necessity from being on my last $1,000 in savings I needed to make something happen and I had to do it right now.

    This... desperation changed my thought process on running a business.

    Fortunately I've always enjoyed reading and writing. Even more fortunate, was when I picked up the habit of reading about sales copy earlier this year. What the fuck makes a person buy a product anyway?

    The only problem was, I had never applied what I was learning in my spiral downward.

    Well I didn't have a choice now. I had given myself a P.H.D. I was Poor, Hungry, and Determined. I NEEDED to cover my bills by the end of the month, so I set myself a goal. I had to earn $1,000 from a business without spending a dime.

    One thing a broke person with no job has is a lot of time and we all spend it every day. So I stopped doing things that were not getting me closer to that goal. By-by video games. By-by smoking weed.

    I doubled down on what I knew I was good at, writing.

    So I began to offer my services to people. I started reading posts about writing and even more important, I increased the amount that I was writing.

    I was still spinning my wheels doing things like writing an erotica short story I published on amazon that I have received about $13 from so far. I was also writing several ghostwritten articles with no pay. BUT, the increased focused effort combined with NOT doing things that stole my time lead to results.

    You see, I quickly realized writers are a dime a dozen, and the pay was straight trash for those who were inexperienced. So I went a more unconventional route. I began to offer my services for free. Holllly crap did my inbox blow up.

    Through multiple posts on subs like /r/slavelabour and /r/jobs4bitcoins, I had gotten interest from several good people looking to add visibility to their websites. I kept it honest and I kept it real.

    I offered to do work for free the first time around to PROVE to the client that I was capable of handling whatever it was they threw at me.

    This lead to writing a couple articles that I thought would be mutually beneficial regardless of pay. It also lead to me getting stiffed by my first paying client! Oh well, it comes with the territory.

    What I received was far more important than financial compensation. Now I was a PUBLISHED writer, and in multiple places for different kinds of writing so I knew it wasn't a fluke!

    Client's were telling me things like "Amazing work" and "Can't wait to use your services again" Etc, etc.

    So then I built a portfolio. It's not impressive, I'm still new, but it isn't nothing either. That portfolio along with building good rapport with people in places I knew my services would be put to good use in, lead me to a client that offered a regular gig writing 15-20 750 word articles a month at $65 per affiliate article.

    In fact it was enough pay for me to reach the goal that I had set out for myself just two weeks prior. Now I could pay my bills!

    So here I am fellow /r/entrepreneur**'s a real live story of how you can get up off your ass even when you hit the god damn floor and fight back.**

    My journey isn't over yet though, it only just begun(2 weeks ago).

    Now that I have achieved the goal of earning $1,000 a month. I have begun to search for a specific type of client to add to my portfolio. One who is in need of long form direct sales copy for things like Video Sales Letters, Webinars, and Long Sales Pages.

    The formula hasn't changed though. The service remains absolutely free and the quality high. I think a portfolio is the most important tool a freelancer has.

    You see folks, it's not about the two penny's you make today, but the millions you'll make tomorrow.

    I hope I have inspired just one other entrepreneur to put forth that extra effort to leave the crap that isn't getting you closer to your goals alone, and double down on the things that are. Good luck and I wish you well.

    TL;DR: Guy has a bunch of money>Goes broke>Finds an income that allows him to support himself in two weeks with skills he had been developing over the past year>Now he can decide when he works, where, and for whom.> The future is bright.

    submitted by /u/ICreateMyLuck
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    Your Instagram questions answered in videos!

    Posted: 03 Dec 2018 10:39 AM PST

    Hey all 👋

    I am a social media agency owner and only deal with Instagram. I've been in the game a little while now and am very up to date in the IG community and with other instagram marketers. I own accounts with over 1M followers total across a variety of niches.

    I am doing a YouTube series on different topics within Instagram. Does anyone have any specific questions about IG which I could do a video on? I have ideas myself but it makes more sense to find out what people would actually want to know rather than what I think they should know...

    Some ideas could include: - hashtags for growth/targeting etc - growth hacking - monetising - algorithm - branding - agency questions Etc

    Anyway, feel free to leave a comment on something you'd like me to go into and I will take your idea on board!

    Thanks

    submitted by /u/biffer69
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    Facebook Ads - Useful Resources?

    Posted: 03 Dec 2018 04:35 AM PST

    I've researched about and ran my own Facebook ads in the past for small e-commerce ventures and I'm considering offering this service to businesses in my area as a little side-earner.

    Just wondering if anyone has any useful resources they would recommend and share regarding Facebook ads so that I know I am giving my customers the best service I can.

    Thanks in advance.

    submitted by /u/_J_G_M_
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