Wantrepreneur Wednesday! - (April 17, 2019) Entrepreneur |
- Wantrepreneur Wednesday! - (April 17, 2019)
- Why You Shouldn't Quit Your Day Job to Start a Business
- Has anyone opened up a small shop in a 3rd world country?
- My competitor want me to change my domain name
- Where did you get the idea for your business?
- Choosing a company name - catchy and unrelated vs. descriptive
- Place for selling MVP stage businesses.
- The story of the fisherman and the Businessman
- How would you invest 360k?
- Had an App Idea - Maybe one of you can have a go at it?
- Huge problems with Paddle.com for payments, any alternatives?
- My first networking event coming up soon. Help & advice needed!
- Skillshare, Udemy, or Youtube? Worth it or is it splitting your audience?
- Motivation / How I Did $49,000 in 2019
- Starting a partnership with a minor
- Looking for some tips for a junior in high school to get inspired and begin a business.
- Invitation to a research project on Entrepreneurship and Neurological Diversity
- Two Companies Launching With the Same Name at the Same Time
- Gaming café
- Strategy sharing: How I recruited remote workers and grew my company from 0-20 ppl and saving 50% costs
- Entrepreneur Mental Challenge
- What are you all doing to track ROI on your advertising dollars?
- What sells? Higher price vs low price
- Legal As A Service (LAAS) / Subscription Model for Legal Services... What's your feedback?
| Wantrepreneur Wednesday! - (April 17, 2019) Posted: 17 Apr 2019 06:13 AM PDT Please use this thread to ask questions if you're new or even if you haven't started a business yet. Remember to search the sub first - the answers you need may be right at your fingertips. 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]  |
| Why You Shouldn't Quit Your Day Job to Start a Business Posted: 17 Apr 2019 06:06 AM PDT Found this interesting. "The research shows that individuals who pursue their passions as side-gigs and gradually ramp up are much more successful over the long-haul. This is because there's less pressure, so you can take more risks. Don't quit your job too fast." [link] [comments]  |
| Has anyone opened up a small shop in a 3rd world country? Posted: 16 Apr 2019 10:36 PM PDT I'm considering doing this, as I'm in the Philippines as an American. Can hire a local for $3 a day to run the shop and secure sales. Can sell shirts and other things for $3 each.. costing less than $1 to buy wholesale. Any tips? Should I do it? First time making a business. If anyone has done this please provide insight. [link] [comments]  |
| My competitor want me to change my domain name Posted: 16 Apr 2019 11:16 PM PDT Hey Reddit, A year ago, I started a website to help my college mates find free study resources concerning their field of study, the website got some success so I decided to make it bigger by including other fields besides engineering, it got bigger, and I started collaborating with some clubs from my college to add new content and cool features. Recently we managed to get a huge feature by the press, last month we got featured by a national public TV channel, soon after a lot liked the project so we got covered my another channel, and last week we got featured by the HuffPost Maghreb, which is a sub of The Huffington Post International for northern Africa (my project is based in Algeria, I live there too), soon after, several blog I was trying miserably to contact, featured my website. In the meantime I had a competitor who had a similar name (mine is kalled Khbich, while his website is called Khabech) and which was older than me, his domain name was bought on 2016, while mine on 2018, my competitor focus on one niche, and they recently called me to change my domain name, because it's similar and they are older and their website is registred within the algerian intellectual property, while mine is not. I called a lawyer, he told me not to panic and this is more frequent than what i think, his main reason to call me was because I got some press coverage and better SEO (which was a lot of hardwork and some sleepless nights) while he didnt manage to get anything for the past two years. I'd love to have your thoughts on such problems, how to deal with it and if it was based in your country would I have to chabge the name ? PS: The current country is Algeria Thank you [link] [comments]  |
| Where did you get the idea for your business? Posted: 17 Apr 2019 08:04 AM PDT I'm looking for a bit of inspiration. I have always wanted to run my own business but never had a trade or passion that sparked my interest enough to go after it. I work for a small family run company and I really admire what they've done, but I spend a lot of long days and put a lot of hard work in making someone else money while receiving a very small salary. I am a hard worker and an intelligent person but I want to put all of that work into something that is mine. Where did you get your inspiration/idea from when you started your business? Tell me your stories! Edit: I will add that I really don't have any hobbies at all. For the last few years, I've worked one full time job and one part time job so I really haven't had any time for myself. Which means I really want to start trying out new things/hobbies, but figure I may as well try some that might end up going further than just a hobby. [link] [comments]  |
| Choosing a company name - catchy and unrelated vs. descriptive Posted: 17 Apr 2019 02:03 PM PDT I'm trying to find an available name that is .com and social media empty. I had a couple but they are taken by either squatters or a mix of social media people. How important is a name in terms of its relationship to the business? If I opened a landscaping business - is it better to have something like "mowyourway" or is something completely nonsensical like "Zootz" ok? (Both of those examples are terrible, assume in each case someone with some level of creativity has come up with the the suggestion). on a related note, for those struggling like I am I found a couple of great resources check out if your name is taken in any domain and on social media https://namechk.com/ business name idea generator (though I'm sure there's a million of these and many better than this one) https://namelix.com/ [link] [comments]  |
| Place for selling MVP stage businesses. Posted: 17 Apr 2019 10:15 AM PDT So we all know there is a big problem in entrepreneurship with people creating MVPs they can't sell, and in fact millions of people put tremendous amounts of work to create an almost ready to go business which then dies. It seems to me there is a lot of waste going on here that could be used - especially in areas where other team sprout up just to create the same thing. I know this is often due to lack of product market fit or poor design, but can also often be due to a number of other factors such as cofounder conflict, personal life circumstances, lack of founder knowledge and skill to bring to market. I thought it could be a great idea to have a place to sell these early stage businesses, which would offer strong marketers a place to pick up interesting businesses probably at a lower cost than development - and give early founders a small exit to at least recover some costs of their development time, maybe even seed another idea. This would be different to most as it's pre-revenue businesses at a significantly lower price. I know at least I personally would be really interested in this. Could you upvote or comment if this also interests you - and any problems you see? or if there are any marketplaces like this around you could point me to. [link] [comments]  |
| The story of the fisherman and the Businessman Posted: 17 Apr 2019 01:24 PM PDT There was once a businessman who was sitting by the beach in a small Brazilian village. As he sat, he saw a Brazilian fisherman rowing a small boat towards the shore having caught quite few big fish. The businessman was impressed and asked the fisherman, "How long does it take you to catch so many fish?" The fisherman replied, "Oh, just a short while." "Then why don't you stay longer at sea and catch even more?" The businessman was astonished. "This is enough to feed my whole family," the fisherman said. The businessman then asked, "So, what do you do for the rest of the day?" The fisherman replied, "Well, I usually wake up early in the morning, go out to sea and catch a few fish, then go back and play with my kids. In the afternoon, I take a nap with my wife, and evening comes, I join my buddies in the village for a drink — we play guitar, sing and dance throughout the night." The businessman offered a suggestion to the fisherman. "I am a PhD in business management. I could help you to become a more successful person. From now on, you should spend more time at sea and try to catch as many fish as possible. When you have saved enough money, you could buy a bigger boat and catch even more fish. Soon you will be able to afford to buy more boats, set up your own company, your own production plant for canned food and distribution network. By then, you will have moved out of this village and to Sao Paulo, where you can set up HQ to manage your other branches." The fisherman continues, "And after that?" The businessman laughs heartily, "After that, you can live like a king in your own house, and when the time is right, you can go public and float your shares in the Stock Exchange, and you will be rich." The fisherman asks, "And after that?" The businessman says, "After that, you can finally retire, you can move to a house by the fishing village, wake up early in the morning, catch a few fish, then return home to play with kids, have a nice afternoon nap with your wife, and when evening comes, you can join your buddies for a drink, play the guitar, sing and dance throughout the night!" The fisherman was puzzled, "Isn't that what I am doing now?" [link] [comments]  |
| Posted: 17 Apr 2019 05:24 AM PDT Just looking to go about the best ways to invest 360K that can make me the best returns. I'm very interested in real estate, just seems to be so many routes to take. I'm very open to ideas [link] [comments]  |
| Had an App Idea - Maybe one of you can have a go at it? Posted: 17 Apr 2019 05:55 AM PDT I had an idea last week that I think could make an interesting/popular app. But, I have no time, no app-building experience, and no real interest in pursuing it. So, I thought maybe someone here would! I would say it's moderately challenging to make the system work, but certainly not impossible. The idea (let's call it PicSync for now) is to have an app that users can download that allows they to take a synchronized picture with multiple devices. Something like this:
That's the basics of it, but I think there are lots of interesting things you could do with the pics once you have them. Like, if you had multiple people standing in a circle around some interesting thing, you could essentially capture a 360-degree view of it. The cloud could post-process to generate a GIF or whatever of that. If everyone was holding their camera in "selfie" orientation, you could build a huge panorama shot by stitching all the pics together. So there you go. Maybe it's a shitty idea - I really don't know. I ran it past my market research team (2 teenage daughters) and they enthusiastically liked it. That's important because my poor kids have heard more product/business pitches than most VC investors and are not shy about giving two thumbs down. [link] [comments]  |
| Huge problems with Paddle.com for payments, any alternatives? Posted: 17 Apr 2019 08:25 AM PDT I'm selling a desktop developer tool, which as far as I can tell is exactly the kind of thing that Paddle is supposed to support. This week though, just before the paid launch, they've silently closed my account with no notice, and now (a few days later) they've sent a very short email saying my activity is 'not suitable', and they won't be discussing or doing anything about this. For a payment provider this kind of abrupt & sudden behaviour seems pretty crazy, so I'm very annoyed about that, but I suspect it's unfixable. I do need an alternative though. Does anybody know other services like this? Critically, I'd like them to handle the accountancy/tax parts of online sales, since that saves me a huge pile of accountancy costs of my own. I would also like them to not suddenly close my account unexpectedly :-). [link] [comments]  |
| My first networking event coming up soon. Help & advice needed! Posted: 17 Apr 2019 06:10 AM PDT My first networking event coming up soon. Help & advice needed! I have my first large scale networking/commercial event coming up soon and any advice would be hugely appreciated. I have 2 seperate businesses. The first is a commercial gym and the second is a sports education business that provides courses, CPD and workshops. The gym has been self sufficient for 4 years now and our marketing is such that I have never needed to "network", however the second business is relatively new and after a year we have grown to the point where we have a few corporate clients. I have been given a ticket to a large regional business show and will be attending under my role as MD for this second company. I have little to no experience on events of this scale. Any advice would be massively appreciated. · "working" the room? how to approach it i.e do first/avoid? · Try to stick to my sector or diversify throughout the day/ · Do I try to stay for the whole day or go back again in the afternoon after a short break? · Anything else that you may feel will help. Hugely appreciated folks! Thanks in advance [link] [comments]  |
| Skillshare, Udemy, or Youtube? Worth it or is it splitting your audience? Posted: 17 Apr 2019 10:35 AM PDT I run a small channel on youtube that is doing ok and growing nicely but recently had some people ask me if I would bring my how to videos to Udemy. I've never thought about making class room type videos for my content but wanted to get some thoughts from people who do it. Is it worth going over to these paid sites with more in depth content or just keep it at youtube and not even bother with the extra work that would be involved on the other sites and potentially splinter my audience. I also worry about having paid content on one and free content on another. Although the content would be more in depth on Udemy, someone would definitely see it as such. I really worry about monetizing my audience when it may not be necessary. Does anyone run a successful Skillshare or Udemy site? pro's / cons? Channel for clarification* www.youtube.com/c/standleyhandcrafted [link] [comments]  |
| Motivation / How I Did $49,000 in 2019 Posted: 17 Apr 2019 10:32 AM PDT Video of Shopify Revenue Proof: https://www.dropbox.com/s/t2or5a5c0k9yzz1/Revenue%20Year%20to%20Date.mov?dl=0 I started my second brand on July 17th, 2018. As you can see in the video, for the rest of 2018 we did $5,723. During 2018, I was dropshipping one product that came in about 20 different color options and variations. We also did NO PAID ADVERTISING during 2018. In 2019, we thought we had proven the product so we ordered bulk inventory and made a customized version to start a true brand. We started Facebook ads right after Christmas and the sales for 2019 have been: -January: $8383 -February: $10,810 -March: $10,926 -April (thru 17th): $19,143 -Year to Date: ~$49,000 This is absolutely NOT to brag or *flex*. The point of this is to show others that it is possible and that you don't have to risk everything to get started. I'm 23 years old, I have a 8 am - 5 pm job that makes good money, I started this brand with $200 and never put another penny of my own money into it (all reinvesting the revenue), I work on it after work everyday for at least 3-6 hours, I have never purchased a course, I'm 100% self taught with no mentor, and I've been doing ecommerce for 4 years now. Here's what I suggest (this is all advice I use myself, there are definitely other ways to do what I have done so take any advice you EVER receive with a grain of salt):
If I were to start a new store, this is exactly how I would do it. I hope this helps even just one person out there and gives them motivation that it can be done. If you have ANY questions please comment below and I'll reply as quick as I can! I WILL NOT ANSWER DIRECT MESSAGES, THAT HELPS NO ONE BUT YOU AND THIS IS A PLACE TO SHARE KNOWLEDGE. Finally, if you are interested I do have a Youtube channel, Startup Astronaut. I've been slacking lately due company growth but will be back in a week or so with better content than ever!! https://www.youtube.com/channel/UCN269jnpf4kVQzO37fZsKHQ [link] [comments]  |
| Starting a partnership with a minor Posted: 17 Apr 2019 01:56 PM PDT I own a small business, and Instead of hiring employees, i want to help the kids who help me out form their own companies instead. I can then contract with them as CEOs, while teaching them about how to run a business, gain and retain clients of their own, pay taxes, reinvest in their brand, and just skip the whole, go to college, get a job trap that aspiring entrepreneurs are pressured into by school, family and friends. I would also like to establish a partnership with them; I only want 15% equity, as I want them to develop their business as they see fit, while also providing labor, and financial support, at a minimal expense to them. I am just curious what kind of corporation should we should establish to ensure a smooth operation. One of the boys I would like to do this for is 14 years old, and wants to start a janitorial company. Thanks for the help in advance. EDIT: one letter [link] [comments]  |
| Looking for some tips for a junior in high school to get inspired and begin a business. Posted: 17 Apr 2019 01:38 PM PDT Any anecdotes, what you learned, where to learn, where to begin, and any entrepreneurial advice in general. [link] [comments]  |
| Invitation to a research project on Entrepreneurship and Neurological Diversity Posted: 17 Apr 2019 01:28 PM PDT As in the previous post, I invited those who are running a business or intend to run a business to take part in a new exciting research project linking insights in psychology and neuroscience to entrepreneurship. The project is called Entrepreneurship and Neurological Diversity. It focuses on certain psychological traits, self-care, and entrepreneurial outcomes. To date, over 100 entrepreneurs have already taken the survey! As a participant, you can receive your own personal profile, as well as a written summary of the findings so that you can benchmark yourself against other entrepreneurs. Here is the link to the survey: Entrepreneurship and Neurological Diversity survey .Please spend a little time taking the survey. You can read more about me and my research here: If you have any questions or concerns about the research, please don't hesitate to contact me. My email address is [jwiklund@syr.edu](mailto:jwiklund@syr.edu). Thank you in advance for your participation. [link] [comments]  |
| Two Companies Launching With the Same Name at the Same Time Posted: 17 Apr 2019 01:20 PM PDT I recently started my first company in an fast growing industry. We came up with a killer name that is pretty key to our company's ethos, identity and vision. Recently I found a company that has launched social media accounts using an identical name as ours, in the same industry with a very similar service description. They are in a certain state in the US (which we don't plan on operating in, but we *do* plan on entering contracts and gathering clients within the United States. We are in Canada). Potential customers, when trying to find our company, could end up finding their company instead, out of name confusion. Both companies (ours and theirs) are in the process of launching, but we own the domain name(s), and we registered our social channels, and domain names first. Is their existence (or other future companies like them) something to worry about?
I plan on registering as soon as we can afford to, but in the mean time, is our name protected in any way? Thanks in advance for any insight! (Starting a business is tough work) [link] [comments]  |
| Posted: 17 Apr 2019 01:18 PM PDT Not sure if this is the right place to put this. But I'm thinking of opening a gaming café and was wondering if anyone had some tips of what they would like in one and also business tips to what should be done to keep it alive. [link] [comments]  |
| Posted: 16 Apr 2019 10:12 PM PDT Hey guys, so my startup is 3 years old and I started hiring remote workers to save money and to get a big talent pool. This is also a good way to find a co-founder. I used this list when recruiting people and cleaned up the list, wrote a blog article and thought I could share this list with the community: ---------- The 2019 IWG Global Workplace Survey has reported that over half of employees globally are working outside of their main office headquarters for at least 2.5 days a week. A whopping 70% of surveyed professionals said that having a choice of work environment was a determining factor when evaluating new career opportunities. Courtesy of IWG In today's economy, remote-based jobs are some of the most sought out careers in any industry. Considering the massive benefits of working remotely, this is no surprise. But with so many companies going remote, there are dozens of new remote job opportunities being posted every day. So, how do you one-up the other recruiters? How can you make sure YOUR company gets the best talent out there? This article will tell you how to develop a strong recruiting strategy, where to find the best talent, and how. We've also included a free, downloadable resource for hiring managers (need to go to actual blog article to get it, don't want to post link to get rejected by mods). Over 130 remote job boards, including websites, communities and Facebook groups. Primary skill focus Price to post jobs (if applicable) Number of days your job posting will be available (paid and free) Official Alexa ranking, or number of members in community. Geographical focus Remote job boards There are dozens of websites, facebook groups and communities dedicated exclusively to remote job listings. I highly recommend utilizing remote-specific job boards in addition to the usual suspects (LinkedIn, Indeed, Glassdoor, etc.). Not only will you have a greater chance of reaching the right candidates who prefer remote positions, you'll be increasing your company's reach in general. It's a numbers game recruit remote talent Our remote job board list is extensive for a reason. Don't just cherry pick a couple of sites that look good; post your remote job opportunities everywhere you can! After all, the more places you post, the wider the pool of talent you'll have to select from! And keep in mind, if you're worried about spending days filtering through hundreds of candidates, we can help. Read our article here to learn more. We talk about the top 5 traits every remote employee should have, as well as how to quickly identify and filter out unfit candidates. Access to talented candidates worldwide One of the biggest benefits of offering remote jobs is the ability to choose from candidates anywhere in the world. Limiting your company's visibility to only a few job boards is a HUGE missed opportunity. Our list includes some of the major remote job boards in multiple different countries. After all, the best talent for your open position could be anywhere. Utilizing remote job boards across various countries will open your company up to more talent and more growth. Stand out by increasing brand awareness remote job boards remote job boards Making sure the right candidates see your job postings is much more challenging for smaller companies or startups. This is another reason to play the numbers game. Posting your job opportunities in as many places as possible will make you more competitive. Just think about it. During any candidate's job-seeking journey, chances are they will visit TONS of job board sites on a daily basis looking for the right opportunity. The more remote job boards you post to, the higher the chances of any one candidate seeing your company's name multiple times a day. If you are looking for this blog post for more details please google "remo.co blog" and find the article - "Ultimate Remote Job Board List for Hiring Remote Employees". I am not posting link as I do not want to post to be rejected by mods. [link] [comments]  |
| Posted: 17 Apr 2019 12:37 PM PDT I like dropping this in /r/entrepreneur from time to time as it always yields some pretty interesting insight and ideas. The game goes like so: 1) The top level commenter drops an industry. If they want they can identify a problem in that industry as well. Ex: The paper industry relies too much on traditional ordering procedures and are missing sales. 2) The next comment should propose an entrepreneurial idea or solution to the top level comment. Ex: The paper industry should implement Dunder Mifflin Infinity in order to open up untapped sales channels. Go nuts guys. [link] [comments]  |
| What are you all doing to track ROI on your advertising dollars? Posted: 17 Apr 2019 12:19 PM PDT We are just starting to pay for advertising on various mediums. Does anyone here use an app. or a spreadsheet to track the return on specific advertising dollars? I would love to hear what other people are doing! Thank you! [link] [comments]  |
| What sells? Higher price vs low price Posted: 17 Apr 2019 12:06 PM PDT Question for those who have e-commerce experience... is it easier to sell low priced items ($30-$100) in larger quantities or higher priced items ($200-$400) in lower quantities? I'm currently selling jewelry in the lower price range but have met with jewelry designers who price higher and don't allow for their retailers to mark down their jewelry. The quality is about the same but the jewelry designs are more unique. Would love your thoughts! [link] [comments]  |
| Legal As A Service (LAAS) / Subscription Model for Legal Services... What's your feedback? Posted: 17 Apr 2019 11:20 AM PDT Hello everyone! Background: I started Press Start Legal a year ago as a firm that provides legal services to the interactive entertainment industry, but also to the tech industry, marketing and advertising and other related businesses. In the first year, we've slow built our name, and had some fantastic clients come through our doors. About a month ago one of our Clients, a growing game development studio, sent us a request regarding the firm providing General Counsel legal services for a fixed monthly rate rather than a standard billable amount. This question kicked off a line of research (1) to see if our state bar would allow for such a fee model, (2) would more than just this client be interested in a model like this, and (3) what would a subscription based model for legal services look like? Glad to report that we've cleared up #1, and are now looking into 2 and 3. The Meat: Before I can ask everyone about number 2, lets talk about what this would look like. At first I was thinking of doing a set number of tiers, based on the needs of our Client. Tiers would get X amount of attorney time, and would scale based on the Client's needs. While a tiered system would work better for marketing this service, we felt this option would but hurt the firm and the client trying to fit each one into a bucket. So now we've changed our approach to a build a plan that could scale based on that Clients needs. More work in the front end, however this would provide a better result. Now, what do you with left over attorney time at the end of each month, while our initial reaction was to allow it to roll over, once we started running numbers it did not make financial sense. So we've created a use it or lose it approach,use the time in your plan for this month as it refreshes the next. For most Client's this wont be a problem, as most of them might even go over and be subject to the hourly rate. What about cancellations? Our plan here is to have each client sign a 60 day contact that automatically renews after the first 60 days. While we could toy with the idea of ETF's we'd rather not. The first 60 are guaranteed, after that cancel at any time, and your subscription will end before the next billing cycle. Why would a Client agree to this over a billable rate? For Clients on a budget and want to know what their legal spend will be each month this is perfect for you. For other Clients who really only need a per project basis we have both flat rates and hourly rates available. The Ask: Before we roll out this new plan, we wanted to get some community feedback. Please any comments (productive comments) will be most helpful in tailoring this subscription model. [link] [comments]  |
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