NooB Monday! - (December 31, 2018) Entrepreneur |
- NooB Monday! - (December 31, 2018)
- Were any of you highschool candy sellers?
- Just launched my first business at 18 years old and I couldn’t be more proud!
- Top 10 Entrepreneur News for This Week
- Inactive vs Active mindsets and how to change for the better
- Filing a provisional patent
- Software for generating and managing product keys / billing?
- Gots to be crazy
- Elder (60+) tour company where I accompany the group on the trip with them.
- To the crypto enthusiasts - you can save a ton of money by filing your losses with the IRS this year
- What was the best business or investment you made with 20k?0
- Simple CRM with a (configurable) customer portal?
- Best platform for site with your companies information?
- Are investors accountable for their commitments?
- How to find the right audience for the business I'm planning to create?
- How to best structure my LLC if I want to run 2 different businesses?
- Need help with my idea to start a Valet Parking business.
- Looking for advice for launching a tutoring business!
- How much does it cost to have a manufacturer produce a new/unique product (not white-labeled)
- How To Increase On Page Conversions With Content Based Landing Pages?
- Best tactic to approach potential prospects before launching
- Determining a good bid for a shopify site
- Looking for a Marketer to partner with on a software distribution business
- Service Bartering Classifieds?
| NooB Monday! - (December 31, 2018) Posted: 31 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. [link] [comments]  |
| Were any of you highschool candy sellers? Posted: 31 Dec 2018 09:45 AM PST I'm currently 16 and in my second to last year of highschool. I've been selling candy for a year and a half now It started with just me and I slowly expanded to other people selling candy under me and having a few investors as well. It's been a really fun ride and I enjoy it more than anything I've ever done If any of you guys were candy sellers in highschool or had other businesses in high school, comment, I would love to hear your story. [link] [comments]  |
| Just launched my first business at 18 years old and I couldn’t be more proud! Posted: 30 Dec 2018 10:06 PM PST It is called Elite Rocks and we can be found on instagram @eliterocksbrand. We create handmade jewelry. Not looking for any buyers just for support and feedback. Thank you! [link] [comments]  |
| Top 10 Entrepreneur News for This Week Posted: 31 Dec 2018 05:12 AM PST For those reading this list for the first time: I've been a founder for 12+ years and subscribed to pretty much every publication out there (TechCrunch, Reddit entrepreneur-related subs, etc.) Besides this sub-reddit, the best quality-advice I've consistently got was from HackerNews. The problem with HackerNews is that many of the articles there are some heavy tech. However, the entrepreneur-related ones (which appear once in a while) are AMAZING, with the comment section being world-class. There are around 20 articles like these each week, and I'm posting the top 10 here. If you'd like to continue to receive posts like these every week on Reddit, feel free to upvote this, it means a ton for motivation :)
https://news.ycombinator.com/item?id=18762735 The story of a business which made $385k during the first year.
https://news.ycombinator.com/item?id=18746881 Some really good insights here.
https://news.ycombinator.com/item?id=18757895 How do you think better? It all starts with understanding yourself better.
https://news.ycombinator.com/item?id=18781264 This is part of a bigger discussion. Before you make something, make sure to really know how your target market works. BTW, some of you asked if they can receive these articles via email, I've created a weekly newsletter here: https://foundernews.net/
https://news.ycombinator.com/item?id=18785112 A lot of entrepreneurs do all their business through an Estonian company. Should you too?
https://news.ycombinator.com/item?id=18771226 Fornite is become a major force bringing lots of money. There are already lots of bootstrapped entrepreneurs making products around this ecosystem.
https://news.ycombinator.com/item?id=18776496 Finally, a free and an open source library to help you understand your users better. Stuff like this costs $50+/month.
https://news.ycombinator.com/item?id=18783816 How do you develop a bunch of habits, and stick to them? This article gives an interesting approach.
https://news.ycombinator.com/item?id=18762665 A big % of the internet is based on fake stuff. You'll be surprised how much with this article.
https://news.ycombinator.com/item?id=18761907 AI is opening up new business opportunities. Now, we can even make fake faces with it. [link] [comments]  |
| Inactive vs Active mindsets and how to change for the better Posted: 31 Dec 2018 04:35 AM PST I've always struggled with this and I'm sure there's a large percentage of this sub that could use help too. Even though I have tasks that are both urgent and important I find myself doing things to procrastinate or just be lazy. Active pursuit is obviously a huge part of success, and driven people are more often successful, but I find that my mindset is simply programmed to "let it slide". I'm well past the initial honeymoon phase in my business, and find myself more and more just slacking off. Willpower only works to a certain degree and what I need is a mindset change. Is there anyone here who changed their mindset? [link] [comments]  |
| Posted: 31 Dec 2018 01:21 PM PST Given that you can file a provisional patent online after going through a few steps it seems, what do other feel is the best course when filing a provisional patent for a rather simple invention: DIY, use a filing service like LegalZoom or InventRight, or seek patent attorney? I'm skeptical of some "inventor" service as they might "steal" the idea. When filing the nonprovisional, I was planning to definitely use attorney that specializes is patents, but I was told that provisionals aren't even reviewed, so having a water tight PPA isn't totally needed. Also, it does seem like filing a provisional takes several steps. I love that there is a book titled something like "Get a provisional patent in 24hrs" but the book is almost 500 pages. I haven't found a great DIY provisional patent guidance yet, but do know if you miss something like the cover page, it will get rejected. I'd love some advice on provisional patent filing. [link] [comments]  |
| Software for generating and managing product keys / billing? Posted: 31 Dec 2018 06:03 AM PST I am launching a desktop software product for which we will need to issue product keys that are tied to the computer's CPU (i.e. not reusable) and I'm wondering if there is software out there that streamlines this -- and ideally I could tie in billing. Are there products like this out there? [link] [comments]  |
| Posted: 31 Dec 2018 01:59 PM PST I have this idea I want to try. I have researched this thoroughly and I think it's a viable option as means to make money. I want to call locale business in my area of Los Angeles, and ask if they're interested in gaining more business. When they ask how, I will of course start my pitch where I tell them that a repeating customer is 67% more likely to buy something you are selling vs a non repeat , which has about a 5 -20% chance of buying. There's other really good information I dug up about this, but for the sake of this post, I'll leave it out. I plan to become a service to these entities by providing a customer loyalty program for them, complete with the cards and design. I will not take the familiar approach and ask for payment upfront, I will ask them choice which ever program they want ( rewards, monthly fee sub, etc ) then make the template free - only then will I say '' If there's more business with these cards on some significant level, you will write me a check for 1k. Has anyone have any info on this as means as doing it before? And if so, can I make a claim like TO BRING MORE BUSINESS IN STRICTLY ON LOYALTY CARDS ALONE? I plan on call around 100 businesses in my area over the next couple of days. THOUGHT? [link] [comments]  |
| Elder (60+) tour company where I accompany the group on the trip with them. Posted: 31 Dec 2018 07:40 AM PST So I was visiting a relative a few days ago and she is in her mid 60's, single and has a passion for exploring. She did a lot of exploring when she was younger, but now doesn't want to go alone. I thought that maybe I could organize a group of 15 or so people with similar backgrounds and organize a 10-12 day tour for them in South America or Europe. How I would see myself differeniating from the thousands of other companies tha do this, is that I would accompany them on the tour instead of handing them off to a local tour guide. I'm also a decent photographer and the other value add would be that I would take all the photos and share them with the group after. So in all I would -Find a group of 15-16 single elders in their 60's -Organize a 10-12 day trip in South America or Europe with activities, hotels, excursions, dining, etc. -Accompany them on the tour to be their helping hand, explain sites, talk about some history and be their photographer Concerns: -My main concern at this moment is if there is going to be a lot of legal issues with my plan if I'm based in the US, but then operating in say Peru, Colombia, Spain, Austria. Will I have to file paperwork, set up LLC's in those companies too? Thanks for all the help! Roast me! [link] [comments]  |
| To the crypto enthusiasts - you can save a ton of money by filing your losses with the IRS this year Posted: 31 Dec 2018 01:38 PM PST Just wanted to share this with folks who had some losses in the crypto markets this year. You should definitely consult with your tax professional, but I am saving over $7,000 in taxes by filing my crypto losses this year. This is because they cancel out other forms of capital gains, so they are canceling out a ton of my stock market gains. You can use any of the crypto tax software solution services to make it easy to file. I used CryptoTrader.Tax because it integrates directly into TurboTax online. Hope this helps some folks on this sub because I've been helped many times here from other kind people sharing knowledge! [link] [comments]  |
| What was the best business or investment you made with 20k?0 Posted: 31 Dec 2018 01:02 PM PST Wanted to hear feedback on what people did with this amount of sums to start their businesses or investments [link] [comments]  |
| Simple CRM with a (configurable) customer portal? Posted: 31 Dec 2018 04:11 AM PST So basically I am looking for a CRM which has the following items: - Fairly simple - A customer portal which we can use HTML/CSS to fit in with the rest of our theme - Ability to customize (simple) workflows which show up on the customer portal. For example, when admin pushes the stage ahead, it should reflect on the customer's side: Stage 1 > Stage 2 > etc Thanks in advance. [link] [comments]  |
| Best platform for site with your companies information? Posted: 31 Dec 2018 06:39 AM PST Hi, I'm creating a site for my friend who runs a moving company. I have only had experience with shopify and I think that's not what we want, we won't be selling anything directly on the site. The things I want on the platform: -ease of use (to create the site) -low costs (less than 15 usd a month) -being able to add pictures with text easily Thanks a lot [link] [comments]  |
| Are investors accountable for their commitments? Posted: 31 Dec 2018 12:03 PM PST I have an investor who has made a commitment to invest a specific amount of money in my startup - letter of intent, due diligence - we went through the entire process. He has invested small amounts while he closed his fund, and the larger investment has been delayed several times due to unforeseen circumstances on his side. All of them believable and verifiable, but it's dragged things out for several months. In late November, he told me the fund was finally good to go and that the investment would be wired to our bank. Then the wire was delayed because it was international and then for some other reason he didn't explain. Now he is saying it is taking longer than expected and won't be available for a few more weeks. A few months ago when he had his first set back - a death of someone named as manager to his fund - he asked me to hold out for him to invest, so I didn't seek other options. I realize now that it was a really stupid thing to do. Now I'm kinda screwed because I counted on his funding. Now I'm out of cash, can't really hit up another investor with our financials are in the negative, and I am realizing that I have no recourse. I am pretty sure I have let the investor run our company in the ground believing his promises, and I don't think I have any recourse for him not coming through. I thought I would post here in case there are things I haven't considered. [link] [comments]  |
| How to find the right audience for the business I'm planning to create? Posted: 31 Dec 2018 11:29 AM PST Hi, I'm a 22 years old student and I plan on creating my second company. And I need your help with tips on how to find the right audience for that. my first "company" is more like a start-up company on a video game project, we have no big funding yet, and pretty much every investment done into it is from my savings or what I earn from my part time job. The project has got some good attention, including some famous people. They liked the project and want to be part of it, as characters with unique stories etc. Currently talking with some agents of few different high-end actors. (successful Hollywood type of actors.) but without funding, I am not keeping my hopes high on that point, even tho I am focusing on succeeding on getting them over. I am also planning to create a 2nd company in the Sales field, which can also be a side company for me to generate money to fund the project, but also as a side company to keep my mind off the first. (I spend 70-80 hours a week on the first start-up so I need something else to keep my mind rolling). Currently I've got a client who does infographic videos, videos like this, or this, or this and this And I want to find the right clients to approach to about this, not sure how to find them since I've never done anything like this before. can you help me with some suggestions? thanks also mods, please let me know if its okay to share those links, can edit the post and take those off. [link] [comments]  |
| How to best structure my LLC if I want to run 2 different businesses? Posted: 31 Dec 2018 11:18 AM PST Hi everyone, I'm wondering how to best structure my business in terms of forming the LLC. I have 2 different businesses that I will be running; One is a design/branding/web development consulting company called 88 Designs. Another is a hot sauce company, which I am calling Exit Sauce. Both names are pending, and will most likely change. My question is; Can I form 1 LLC for both businesses, even though they are very different things? Or do I have to form 2 separate LLCs? I like the idea of having 1 LLC to do multiple types of businesses, especially since I may have other ideas outside of design and hotsauce in the future, but I don't know if this is advisable or wise. My thinking is, since I'm also building my design business, I will essentially be my own client by branding and building the e-commerce and marketing presence for my own hot sauce line. If I can conduct both businesses under the same LLC, and lets say for example I call the LLC "88 Designs LLC", do I have to explicitly call that out on the hot sauce labels/website somewhere? Thank you so much! [link] [comments]  |
| Need help with my idea to start a Valet Parking business. Posted: 31 Dec 2018 07:02 AM PST I've been working for almost a year as a valet manager at a country club. The business is not properly run in so many different ways and I feel that, although I'm only 21, I can do a much better job running my own company. I know this is a common thought to have as an employee but valet parking is such a simple operation that I think I can actually act on it. Costs: -insurance: which my current boss has told me costs roughly 20k, not sure if that is yearly or what. -payroll: covered partially by tips and partially by the location or sometimes entirely by the location. -finding a location/contract: not sure on if I would have to bid for a contract or what this process is like. -supplies: uniforms, tickets, a valet booth, pens, etc. -creating the incorporation I am not a fan of having any debt even if its company debt so i would either be looking to start it with my own money or have investors (friends and family) come in for equity as long as I have majority control. I am also considering approaching my current valet boss about getting a new location that I run but that he finances and we split 51%, 49% so that I have control. Any suggestions or recommendations from people in the business or just entrepreneurs in general is appreciated. [link] [comments]  |
| Looking for advice for launching a tutoring business! Posted: 31 Dec 2018 04:30 AM PST Hi everyone! I'm new here, so I'm unsure as to whether or not this is the right sub so heres hoping. I'm launching a tutoring business with my friend and we have a strong plan and structure in place, but essentially want some tips on time management (as we are both at uni) as well as possible things we should consider when launching a tutoring business to maximise profits as well as client satisfaction. Thanks in advance PS. we're in the UK [link] [comments]  |
| How much does it cost to have a manufacturer produce a new/unique product (not white-labeled) Posted: 31 Dec 2018 08:37 AM PST Obviously I know this would vary greatly depending on the complexity of the thing, where you get it made, how many you want, etc. For the most basic example, let's say you invent some gizmo that is not an electronic, with little-to-no moving parts (such as a specialized hand tool of some kind), and you want it made in the USA. Are we talking 10k? 100k? A Million? Or does anyone have any real life examples? EDIT: I'm not talking about the material or in-production costs for the product. But rather the costs for design, engineering a prototype, going to a manufacturer and having them create the machine tools needed to make the thing (such as injection molds), whatever. Basically everything that happens just before the first one comes off the assembly line. Also I'm obviously not looking for any accurate number, just an extremely rough order of magnitude guess just to get an idea, perhaps with examples. Or at the very least, a rough minimum it would cost. [link] [comments]  |
| How To Increase On Page Conversions With Content Based Landing Pages? Posted: 31 Dec 2018 08:23 AM PST So I am getting some good traffic to a blog post, about 200-250 per day, but nobody is adding to cart. Since I am getting sustainable traffic to this post, I have been testing things to see if conversions increase. My first rendition was basically just the post teaching people how to make a great mocha with links to my mocha mix and coffee. I got some feedback from another blogger, which didn't help, to remove the links and just put the product at the bottom of the page, which I did. So far today, I have gotten 51 people to this post alone but no add to carts. The traffic going to this post is from other social media and backlinks. The people are coming to my post to learn how to make either a Cafe Mocha at home or how to make a Smores Mocha at home and the traffic is basically 100% women. Blog post: https://defiancecoffee.com/blogs/coffee-stuff/diy-cafe-mocha Please do not add the product to cart, unless you actually want it, as that will mess with my analytics but I have tested and the add to cart works fine. The problem is people are not clicking add to cart. What would you do to improve on page conversions or is there a better way to sell the mocha mix? Possibly instead of trying to help and teach them just send them straight to the mocha mix with an ad? Edit: LOL I can't ask questions here without getting instant downvotes... [link] [comments]  |
| Best tactic to approach potential prospects before launching Posted: 31 Dec 2018 07:57 AM PST I am currently investigating the posibilities to sell a SAAS product aimed for a specific type of small non-profit organization, mainly related to sports. Within the area I want to service there are roughly 11,000 organizations that are part of my target audience. By researching competitors I figured out the main competition serve around 50% of my target audience. Neither of the competitors are doing a lot of online marketing so I see a big chance to jump into the gap and use good marketing strategies to actually get clients. Now I had the idea of reaching out to +/- 100 of these potential clients, tell them what I am working on, what problem I want to solve and just ask them what features they'd require for them to consider it useful. The main point of the communication would be about gaining feedback rather than just trying to sell it. Based on their input I can shape the product even better to their needs and I'd have an idea of how many interest there might be. Now the thing I am afraid of is that by my e-mails I address them of a need they have, they realize they should buy something to solve the issue, they do market research and end up at one of my future competitors. Is this fear reasonable and legit, do I think the wrong way or am I just misjudging it? EDIT: some additional information within the subreddit rules: the proposition is mainly that I save up the time of volunteers in these organizations by automating an important part of their daily administration. A lot of organizations handle this administration manually (by pen and paper or complex excel sheets) which causes a major workload for volunteers. The amount of volunteers is declining (which is a statement I can back up by research and statistics) so buying my product frees time for volunteers. The decision makers are mostly volunteers as well, who work a regular day job beside their volunteer work for the organization. The revenue model exists out of two parts: organizations pay a monthly fee to use the software. Beside that upon starting out they can purchase an installation plan that covers consultancy to set up the software enviroment to their needs and providing training to potential users. [link] [comments]  |
| Determining a good bid for a shopify site Posted: 31 Dec 2018 07:52 AM PST Looking to buy an established shopify website on flippa. I've verified the business' monthly profit after COGS to be around $2,000. What is the rule of thumb those of you who've bought websites before? I've seem some estimates of 10x monthly profit up to 30x monthly profit. I of course don't want to overpay but also don't want to come in with an insultingly low bid. [link] [comments]  |
| Looking for a Marketer to partner with on a software distribution business Posted: 31 Dec 2018 07:29 AM PST Hi everyone, I just turned 18 on Christmas and I'm starting a new business. We'll be selling game templates that I've made in low cost packages for people to buy and and publish on the App Store/Play Store. I'll cover all the needs and expenses of the website. I just need someone who can market a product to gain loads of exposure. I do have a 10K instagram account but that's not going to cut it. We'll be splitting 50/50. I've put a lot of work into this and have made over 50+ templates in the past 8 months and now's the time to setup the website and start selling. If you're interested and have experience marketing digital product/services online please do let me know, also if you have any questions, fire away. Regards [link] [comments]  |
| Service Bartering Classifieds? Posted: 31 Dec 2018 06:32 AM PST I've been looking around for classifieds/websites which allow designers, developers, influencers, and marketers to barter their services but I can't seem to find anything solid. With that said does anyone know of any good websites for service bartering? I'd love to be able to barter my web design services with marketers and influencers. Would anyone out there be interested in creating something like this if nothing currently exists? [link] [comments]  |
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