Thank you Thursday! - (March 28, 2019) Entrepreneur |
- Thank you Thursday! - (March 28, 2019)
- I bootstrapped to 1mm ARR with two employees, raised $7.1m in VC, asked for the highest valuation on Shark Tank, and now commercialize US military biotechnology. Ask me anything!
- You want to know how businesses build 20% month over month?
- Recycling Startups
- Working with a design service - your thoughts?
- Best Evernote alternative?
- Left my job for this... I hope its worth it
- WARNING: if you read this you might get offended.
- Pitch the Brands at Licensing Expo 2019 - Destinated to all the entrepreneurs!
- Just made my first pocket change freelancing
- My Failing local cleaning business.
- Is there anything similar to Shopify but for apps ?
- Is it possible to create a business product without specialty knowledge?
- Looking for a fulfillment service
- Best way to make money as 18 year old
- Best Sticker Dropshipper??
- Burning Questions about Dropshipping, Facebook Ads, and Shopify?!
- Are Entrepreneurship Classes Worth it?
- Any ideas finding new clients for a small boat washing business?
- Connecting with Investors websites/apps
- Selling a moderately sized e-commerce business ($500k annual revenue)
- Chair/Table Rentals - ¿POS Recommendations?
- Brainstorming an idea for new businesses
- People who have had businesses fail...what mistake(s) was made?
- Write offs to build a business?????? 179????
- Branding advice
| Thank you Thursday! - (March 28, 2019) Posted: 28 Mar 2019 06:12 AM PDT Your opportunity to thank the /r/Entrepreneur community by offering free stuff, contests, discounts, electronic courses, ebooks and the best deals you know of. Please consolidate such offers here! 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: 28 Mar 2019 09:02 AM PDT EDIT 2: (2:22 PM PST) I'm going to be intermittently on and off answering questions from now into the evening. I'll try to prioritize ones with the most upvotes. Got to do my job whilst doing this AMA :) EDIT: (12:15 PM PST) Thank you for the great questions. I've been at this for the last 2.5 hours. I'm going to take a small break and continue answering questions later this afternoon. Keep them coming ! Hey everyone! Geoffrey Woo here. I'm the CEO and cofounder of HVMN, a human performance company based in San Francisco and backed by venture capital investors including Andreessen Horowitz, NFL legend Joe Montana, and famous entrepreneurs like Tony Hsieh (Zappos), Mark Pincus (Zynga), and Marissa Mayer (Yahoo!). I'm obsessed with ketosis, intermittent fasting, and all things that improve metabolic health, cognition, and physical performance. HVMN is best known for our "ketone ester" drink, which originated from a DARPA program to enhance soldier performance. During my senior year of college studying Computer Science, I started a location-sharing app called Glassmap which ended up being my first company. Glassmap was funded by Ycombinator in 2011 and was sold to Groupon in 2013, which was a tremendous business and M&A learning experience. About 5 years ago, my eventual cofounder, Michael Brandt (a Stanford dormmate and fellow CS major) and I began our path down the rabbit hole of "biohacking." We wanted to 1.) give ourselves any edge possible, and 2.) explore the big, sci-fi ideas of anti-aging, enhanced cognition, improved metabolisms. Many of the smartest people we knew at Stanford applied their big brains towards making computers better, artificial intelligence smarter, and robots more efficient. We asked, "Why couldn't we apply systems and engineering principles towards human performance?" This question started off my personal odyssey of tinkering with all sorts of research chemicals and supplements to hack our performance and tracking all sorts of blood markers and biomarker. The entrepreneurial bulb went off when we say the Google trends for "nootropics" and "biohacking" began organically growing in 2014. Even then, Michael and I thought that this would be a niche side business. Little did we know that after 8 months of launching our original pre-sales landing page (nootrobox.com) and bootstrapping the business, we would turnover 80-90k/month of revenue with almost no paid marketing. From there, it's been a wild rollercoaster. We've raised a couple rounds of venture capital from top investors like Andreessen Horowitz, appeared on Shark Tank to pitch GO Cubes chewable coffee, started the HVMN Podcast, a popular biohacking + health podcast with hundreds of thousands of views + downloads, and acquired and now commercialize exclusive licenses on technology and patents that originated from a military research program to enhance soldiers. I've also been featured on Forbes' 30 Under 30 Consumer Technology List. But the best part about my job is that I get to work with and hang out with top researchers in physiology and top performers in sport like world-record cyclists and celebrity athletes to push the limits of human performance. Feel free to ask me any questions relating to startups, fundraising & venture capital, the biohacking / keto / health / human performance space, and my company. AMA! Proof: https://twitter.com/geoffreywoo/status/1111105814901727232 Additional resources:
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| You want to know how businesses build 20% month over month? Posted: 28 Mar 2019 06:14 AM PDT They build a foundation of loyal customers - that foundation comes from Follow Up. When you have 100+ competitors offering the exact same service as you, one of the only ways you can consistently grow is through following up with every single lead." Do you know what the difference is between the best and the worst of the 100 competitors? The worst, you call them and they never care to do anything about it. They don't call you back, or email you back. Multiple times. The best? They make sure that you'll become a customer. They don't let you out of their site. Often when we are marketing we forget to look at our business through our customers eyes. And they are often just looking for the first reliable company that pops up or reminds them to book. When a call comes in and says they wall check back in with you...90% of the time they simply forget. You need to follow-up with them twice that same day, twice the next day, and a few days later until you get a "YES" or a "NO". I know, it SOUNDS annoying, but most people appreciate you reminding them and are more likely to go with you. This is even more true for one-time customers. You just did a great job and they are so happy. The single worst thing you can do is leave it at that and hope they choose to book again. No, that's not going to cut it if you really want to grow. You need to call and check-in with them on the service. Offer them $25 off the next 3 services, or some reason to book with you again regularly. They will "think about it", let them. But also call them back the next day, and the day after, then the week after, then the month after. Heck, even check in with your one-time customers from 6 months ago. Some of them WILL book, and you just made yourself some money. Here's the crazy thing - with any paid marketing platform you have a cost of acquisition. Don't waste that money just getting them through the door once otherwise you will have barely made a profit. You need to have them come back again and again for it to be worth it, and the only way to do that is to follow-up with them. By following up you are able to turn a $20 lead into a $1200 per YEAR lead, again and again (for example with a local service business). It's ridiculously effective when you think about it. Even if only 25% of the people you follow-up with for a week turn into a regular..that is a lot of extra revenue every single month coming in. Not to mention upselling and the referrals they can bring in. This is the real stuff that will let you grow 20% in a single month, not a fancy new website or lead capture form. Any questions about following up? [link] [comments]  |
| Posted: 27 Mar 2019 05:38 PM PDT I've been doing research about Chinas import bans put into effect last year, and the huge impact it's been having on municipalities. I have about 100k to invest, and I'm based in New England. This is not an industry i'm familiar with, but it's a problem I care about... and it seems like a great opportunity. Do any of you have any familiarlity with the space? I have no idea where to even get started... all I have is a hunch that there's money to be made here, and good to be done. (quick article on the topic: https://e360.yale.edu/features/piling-up-how-chinas-ban-on-importing-waste-has-stalled-global-recycling) [link] [comments]  |
| Working with a design service - your thoughts? Posted: 28 Mar 2019 08:30 AM PDT I'm looking for some design help, and have narrowed my decision down to Design Pickle and Delesign. They both offer unlimited design services and should be a big help. We've worked with freelancers before and I just really don't want to have to deal with that hassle anymore. Before I pulled the trigger with one of them, have any of you used either before? I like how Design Pickle looks really established and seems to generally have good reviews for the most part. I really like how Delesign works on more than just graphic design, and their designs seem to be of higher quality, but they seem to be a lot newer. [link] [comments]  |
| Posted: 28 Mar 2019 11:22 AM PDT Hi guys. What's the best alternative to Evernote? I need a reliable mobile/desktop app for note-taking. There are a number of reasons why Evernote doesn't fit my needs. [link] [comments]  |
| Left my job for this... I hope its worth it Posted: 28 Mar 2019 08:03 AM PDT Hi, We're a group of 3 friends and we encountered a problem which we think is global. We want to leave information for each other about places in the world, and we couldn't find a platform that does this in a good way. When I come to an interesting or a new place, I want that everyone that looks for this kind of place, or searches information about it, whether it's my friends or the rest of the world, will find it. What makes us unique is that everyone can put absolutely anything on the map, which makes it possible to tag & find: - Your favorite coffee/wine/burger brand. - Beautiful hidden places in nature; lookout points, springs… - Urban treasures; graffiti, quiet places, etc. - Accurate descriptions of places, such as accessibility or vegan-friendly - Toilets, ATMs, WIFI, etc. - Anything else you might think of Our core feature is the #hashtag which lets you easily tag and search for things and places. 8 months ago, we all left our jobs and started working on this project, we call it STEPS. We finished the beta version and we're still working on it. I will be more than happy to hear any thoughts, criticism, questions, or ideas. We made a short video to explain the app a bit more: https://www.youtube.com/watch?v=uAFbmKGYmpg Download: Android: https://play.google.com/store/apps/details?id=com.steps.app.steps iOS: https://itunes.apple.com/us/app/steps-discover-explore/id1449597018 [link] [comments]  |
| WARNING: if you read this you might get offended. Posted: 28 Mar 2019 03:51 AM PDT <interlude> Startup == Legal business (of an age of 6 to 36 months). A Startup is not an app that is making $5/day. A Startup is a solid business (tech or not tech) legally applied to pay taxes and all its juridic stuff. I'M gonna sound douche or sad but I am tired of dudes who just have an app or a affiliate blog claiming they have a startup. Dont get me wrong its not bad that you have this. But a "startup" is a real pain, taxes, documents, worries, hours and a lot of crap. Just trying to put my 5 cents into somehow trying to stop this "startup entrepreneur hustle grind" shit. Now keep on browsing motivational quotes from instagram. "Comment Yes! letter by letter if you are an entrepreneur" </interlude> [link] [comments]  |
| Pitch the Brands at Licensing Expo 2019 - Destinated to all the entrepreneurs! Posted: 28 Mar 2019 07:38 AM PDT Pitch the Brands is organizing a Licensing Expo in Las Vegas in June. If you have a demonstratable invention you would like to present to a panel and gain valuable feedback then Pitch the Brands gives inventors the chance to present their consumer product directly in front of a live panel of executives from today's leading brands. These experts are proven thought leaders from the brand licensing industry, excited to review and provide feedback for success. 10 spots are available to Pitch the Brands at Licensing Expo 2019. The inventor with the best pitch and product, as judged by the panel, will receive InventHelp's services worth over $18,000 USD. Deadline for entry is April 15th, 2019 - don't miss your opportunity! [link] [comments]  |
| Just made my first pocket change freelancing Posted: 28 Mar 2019 02:21 PM PDT Hey, a while ago I posted if anyone was looking for a copywriter. I did some work for free and got some testimonials and I've been working on upwork.com, a few days ago I made my first 50 dollars! I know its not a lot of money but I'll take what I can get hahaha. If anyone else is a copywriter and you have an established business please let me know I have some questions! [link] [comments]  |
| My Failing local cleaning business. Posted: 28 Mar 2019 12:05 PM PDT Hi everyone, My residential cleaning business is 6 months old and I'm facing challenges with staffing and getting customers which has been making me bleed money. I currently have two employees that are both quiting for unrelated reasons. They are working part-time because I only have a handful of customers currently. I'm trying to hire new people to replace them now, and I'm afraid my customers won't adjust well to new cleaners. I've spent money on building a quality site and online booking service. I've tried various marketing strategies from newspaper ads, cold calling, door to door sales, Google ads, seo and free clean promos on fb. By far, Google ads has been the best source of my customers but the cost to acquire a customer is $300 which I'm not getting back in profit. I'm currently spending $20 a day on Google ads. The town I'm in does have a lot of competition with Molly maid and the maids at the top. I work full time so am only able to answer the phone early morning, lunch and evening. To be profitable I need more customers to cover overhead and cut back on advertising but I cant get any customers without advertising. I feel stuck. Hoping someone could help steer me in the right direction. [link] [comments]  |
| Is there anything similar to Shopify but for apps ? Posted: 28 Mar 2019 02:08 PM PDT I want to launch an ecom app -> Is there any option where I can white label my brand without the hassle of actually coding and stuff. Selling a single product, no multiple products and variety [link] [comments]  |
| Is it possible to create a business product without specialty knowledge? Posted: 28 Mar 2019 08:04 AM PDT Let me add a little more description. I'm just in the learning phase, but I'm under the impression you need a solid product or service. Now for this sake I'm excluding services. I saw a post about an individual selling vinyl or something. Do you need to be some kind of engineer or some kind of very skilled person to create products? Or does an average joe like me have potential? Self-learning is ofc on the table [link] [comments]  |
| Looking for a fulfillment service Posted: 28 Mar 2019 02:13 PM PDT So I want to sell pcb's from Easyeda, but the way they are packaged means that the pcb's are all really tight together in a vacuum sealed package (as seen in this video : https://youtu.be/cGR6eEQlSz4). Due to geographic restrictions I can not handle this myself, and need to rely on a fulfillment service. Thanks! [link] [comments]  |
| Best way to make money as 18 year old Posted: 28 Mar 2019 10:14 AM PDT |
| Posted: 28 Mar 2019 01:35 PM PDT Hey everyone, I'm looking to startup a website soon and sell stickers, at least I hope. I want to start this up with as little effort and money as possible only because I have other projects I want to work on and I don't expect it to make tons of money . Anyways, does anyone know the best source to dropship stickers that have a preset design but the text can be changed ? Anything would be helpful ! [link] [comments]  |
| Burning Questions about Dropshipping, Facebook Ads, and Shopify?! Posted: 28 Mar 2019 01:32 PM PDT What's up guys. On one of my recent videos on Youtube, someone commented that they would like to see a quick Q&A video answering questions. I have 4+ years of experience building a clothing brand, doing drop shipping, working at an Ad Agency, doing Facebook ads, and creating other shopify stores. I started a new brand in Dec 2018 and have already done $29,000 in revenue in 2019. (not braging, just validating) I recently started my youtube channel with the goal to do 2 things.
So please, ask me some questions and Ill do my best to answer them here or on Youtube. Feel free to check it out if you would like: https://www.youtube.com/channel/UCN269jnpf4kVQzO37fZsKHQ [link] [comments]  |
| Are Entrepreneurship Classes Worth it? Posted: 28 Mar 2019 01:22 PM PDT I was watching a video where this tech CEO was talking about how entrepreneurship classes were full of BS, and the important thing was to get out and do it. So, I was wondering, what do you all make of entrepreneurship classes? I'm not talking about the online courses teaching the basics of business, accounting, etc, but the courses that try to inspire you to build a "lean startup" in a few months. Is it worth it to take these classes, or is it more important to learn more traditional management skills or even just gain those skills from experience alone? [link] [comments]  |
| Any ideas finding new clients for a small boat washing business? Posted: 28 Mar 2019 01:20 PM PDT My roommate and I started a boat washing business last fall as a way of giving ourselves a good part time job while we're in college. We get paid pretty well whenever we actually get a boat to wash but we've done no advertising and the few boats we do have are from networking. I want to find more clients/more regular clients so I can fully support my self with this business but I don't know the best way to do so. Our current best ideas are passing out flyers at popular boat launches and advertising with targeted ads on Facebook because it's pretty cheap and Facebook probably hits alot more of the boat owning demographic then other forms of social media like would. [link] [comments]  |
| Connecting with Investors websites/apps Posted: 28 Mar 2019 01:11 PM PDT Hi all. I know I've seen video ads before but I am completely blanking on the names, but would any of you know the best places to go with a business plan or idea to connect with investors? I have Connected Investors app for real estate, but am thinking there are some other popular ones. [link] [comments]  |
| Selling a moderately sized e-commerce business ($500k annual revenue) Posted: 28 Mar 2019 12:33 PM PDT Anyone out there have advice selling an e-commerce business this size? I've sold on Flippa, but will need more help vetting this one. Empire Flippers sounds like the best option, but it's a bit hard to stomach 15% I don't have the right contacts to sell privately though. Looking for any general advice or success stories. [link] [comments]  |
| Chair/Table Rentals - ¿POS Recommendations? Posted: 28 Mar 2019 12:32 PM PDT Hello, starting a small venture with my wife. We will be renting chairs and tables for events. Any recommendations on what POS system to use? I wouldn't mind Paypal/square but I feel it's missing a rental feature. Ideally, the main feature I would like it to be able to do would be to CHARGE A credit card incase items are returned damaged, broken or stolen, similar to a hotel. Income is only projected to be around 5-6k annually. [link] [comments]  |
| Brainstorming an idea for new businesses Posted: 28 Mar 2019 12:18 PM PDT In 2013 I have accidentally started a small business working for myself. I knew it was a temporary business that will go out of business in decade or less, but after 6 months I was bringing in $3000 per month after expenses and taxes, while working only 15 or so hours a week mostly from home; so I stuck with it. I tried my best to expand and grow, but I hit a wall. Now my income is slowly declining, where this year will probably be my last. I am trying to brainstorm what to get into next, but nothing I come up with seems to be viable when I think about it longer. How do you go about figuring out what to do and what to get into? I am aware of all the stand responses, do what you know, fill in a need, see what can be improved... However, I still can't figure it out. Its starting to drive me crazy. [link] [comments]  |
| People who have had businesses fail...what mistake(s) was made? Posted: 28 Mar 2019 12:05 PM PDT |
| Write offs to build a business?????? 179???? Posted: 28 Mar 2019 11:23 AM PDT Hey guys I own one LLC, we chase storms for insurance proceeds and do very well when there are storms but unfortunately there are some years that are just dry and I am scrounging around looking for work. I opened a little Rental company for a second stream of income. This year I was going to try and use some tax savings from 179 deductions to build a little fleet of trucks I can rent out locally if there are no storms. If you know the 179 deduction you can write off up to 1million in qualifying vehicles but can not have the business take a loss from this. So I was thinking about putting myself in a much lower tax bracket by doing this as well as building a separate stream of income from vehicle rentals. Would also like to rent some equipment I have as well. (OPEN TO OTHER IDEAS) Last year I netted about 180K and this year if there are large hurricanes I should be able to go above and beyond 2-300K Net. So instead of paying a very high tax bracket This sounds like it could have many advantages but I am stepping into vehicle rentals and never done anything like that so thought I would drop it to the Reddit community to see if anyone has good ideas or reasons I shouldn't do something like that. Either way I am trying to find some good write offs that can build a second form of income. All Ideas are welcome and would love to hear what you guys would do in my situation. [link] [comments]  |
| Posted: 28 Mar 2019 11:06 AM PDT Hey all, looking for some advice on my personal brand. I run a split identity between two of my passions, music and photography/modeling. I run the Instagram account @nathandaven where I am beginning to start selling my prints as well as promote my modeling. However, I also make music under the hand SOCIALE, which i also promote through the same account. How do I manage all of these split interests under one name? Is it uncommon to do this and just push all my creative work through one stream? I am also setting up a website to put all of my music and photography on but I don't want it to be too cluttered. Thanks! [link] [comments]  |
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