“It’s Never Too Late to Start a Brilliant Career” —Props to all of the late bloomers pursuing their goals and dreams! Entrepreneur |
- “It’s Never Too Late to Start a Brilliant Career” —Props to all of the late bloomers pursuing their goals and dreams!
- I spent 300k in Facebook ads last month to generate over 1 Million in return. AMA
- I Lose $5,000+ Per Month Doing This and You Can Too
- $42k/month selling software for maid services.
- "Thinking Fast and Slow" is a must read for every entrepreneur
- What’s your favorite/most effective marketing techniques?
- Me and my friend are trying to start up a business
- I want to start something entrepreneurial related with a friend, but I don’t know what.
- Should I start a Youtube channel in my native language or English?
- [UK] Starting a vegan, micro batch drinks company. Concerned about food standards.
- Anyone here own/operate a (Smart) parking business?
- Starting up a company with no income google wants a license
- Should I ask for more shares?
- What's missing from entrepreneur vloggers?
- How did you garner interest early on for your free app/free product?
- "I once was homeless, now I'm not."
- Flippa App Sale Question
- Question : Typical agreement between principals / officers of a business venture
- Cybersecurity industry, any advice?
- Advice for early stage funding
- Should I do a Shopify Blog connected to my site? Or a separately hosted blog?
- Do subscription services make a sizable portion of income from forgetting to cancel?
- All-in one Merchandise Store?
- How does liability insurance work with multiple, related LLCs?
| Posted: 15 Jun 2019 09:37 AM PDT Article If link doesn't allow you to read it you can find it via a google search without a subscription. Just finished reading this article and as I reflect on my entrepreneurial journey so far, I recall being 30 years old and getting ready to make one of the most important decisions of my life. Leaving my job of 10 years to pursue something I had zero experience in and no real plan (this is not the recommended format to venturing into an entrepreneurial experience). I became a career changer at age 30 and I was right on schedule! You are too whatever age you are. EDIT: I'd love to hear from you guys & gals at what age you started in your industry and whether you felt like you were early or late to the let and what's been your experience so far. Summary of article: This isn't my summary instead it was a summary I came across on kitces.com. I did read the article in it's entirety and found it engaging. [Modern society is arguably obsessed with early achievement, from celebrating high SAT scores and A's in AP classes, to getting accepted into a prestigious college or first job, or making it onto 40-under-40, 30-under-30, or now even "Most Influential Teen" lists. Yet the reality is that not only is "precocious achievement" the exception and not the norm, but more generally the truth is that we continue to mature throughout our lives and that we all do so at different rates; in other words, being an early bloomer is not a requirement for lifelong success. In fact, the prefrontal cortex – responsible for complex functions such as planning and organizing, problem-solving, memory, attention, and inhibition, is still forming in the "post-adolescence" stage from ages 18 to 25 (known by psychologists as a "neurological maturity of executive function"). Accordingly, some psychology researchers are now suggesting that we should better view the phase from age 18 to 30 as "emerging adulthood"… and that those who aren't wildly successful in this stage may not be "behind" in life, but simply following the normal development curve. Moreover, our "crystallized intelligence" (ability to use skills, knowledge, and experience in practice), doesn't even peak until we're in our 40s and 50s (which is particularly notable for financial advisors, where such fluid intelligence capabilities are critical factors for career success). In fact, he average age of those filing for U.S. patent applications is 47, and the average age of scientists doing work for which they eventually win a Nobel Prize is 39; in other words, even our "creative yield" increases with age, too. Even in the context of financial services, entrepreneurs like Ken Fisher didn't develop their key methodologies for success until their 30s, while quarterback Tom Brady was only the 199th player selected in the 2000 NFL draft, singer Andrea Bocelli didn't even start singing opera until he was 34, Martha Stewart started her catering business at 35 (and didn't publish her first book until 42), and J.K. Rowling started Harry Potter at 35. The key point, though, is simply that all of us know someone who seems stuck in life… but recognizing how common it actually is to be a late bloomer – especially with human life spans getting longer – it's crucial not to give up on ourselves or others. We can all bloom and re-bloom throughout our lives.] [link] [comments]  |
| I spent 300k in Facebook ads last month to generate over 1 Million in return. AMA Posted: 15 Jun 2019 08:43 AM PDT I am in digital marketing and ecommerce. I learned what I learned from those MAKE 1000 DOLLARS A DAY FROM ANYWHERE IN THE WORLD type ads. This is the other side of the "scam". No, I am not selling courses and am not affiliated with any of popular gurus on social media. I practice what is taught in those courses and supplement my knowledge by my own trial and error and youtube tutorials. AMA First column is amount spent last column is conversion value. Facebook understates conversion value by 15-20%. So my average Return on Ad Spend is about 3x [link] [comments]  |
| I Lose $5,000+ Per Month Doing This and You Can Too Posted: 14 Jun 2019 06:39 PM PDT You've probably seen hundreds of these posts before. Most of them are all about money making strategies - how you too can earn $X per month doing ____. But today, I wanted to talk about how I lose incredible amounts of money by choosing to be an entrepreneur and how you can too. I have all of the experience I need to earn an average living wage in my area. I'm well-versed in digital marketing. But I left that behind to start my own creative studio. Only I didn't get rich from making that decision. In fact, I lose every day. I lose out on generous salaries, constantly invest money into my business, and fight to stay alive while I get this thing going. And I do it because great entrepreneurs aren't in the game for the money. Yes, it is a side effect of success and it's necessary (at least for most of us) to keep on going. At least at some point. But great businesses aren't built in a day. They offer 0 ROI for months upon months. Maybe a year or more. Don't get caught up with the get rich quick schemes. Keep grinding. I'm not a great entrepreneur. I'm not there yet. But I'm okay with knowing that some day, I might succeed in making a living doing what I love. [link] [comments]  |
| $42k/month selling software for maid services. Posted: 15 Jun 2019 09:15 AM PDT Hey - Pat from StarterStory.com here with another interview. Today's interview is with Amar Ghose of ZenMaid, a brand that sells software for maid services. Some stats:
Hello! Who are you and what business did you start?Hi, my name is Amar Ghose. I'm the CEO/co-founder of ZenMaid. Our software makes it easy for growing maid services to manage their cleaners, clients, and schedules in one easy to use software. While we might have started off slow (both my co-founder and I worked full time for over 2 years after starting ZenMaid) we now make more than half a million dollars a year helping maid service owners to achieve the freedom in their lives and businesses that we have (I'm currently writing this from Canggu in Indonesia!) What's your backstory and how did you come up with the idea?I've always been quite entrepreneurial. I started as a kid selling candy to my middle school friends actually. Despite that I hadn't been able to create a real business that really stuck until ZenMaid. In 2012 I came across a post on Reddit. A guy was starting his own maid service and documenting the entire thing. By chance a friend of mine saw the same post and started working on the technical side of the business (building a website and etc). My friend quickly realized that he didn't want to deal with the people side of the business however. He tagged me in to help with operations and sales/marketing. From there I was quite quickly made an equal partner as he had yet to launch. At the time I was doing sales for a tech startup so closing business by phone was my jam. From there I quickly learned basic man management skills to work with our cleaners. Fast forward 1 year and I was no longer living locally. I'd moved closer to home (the SF Bay Area) for a much better day job. I was 400 miles away from our maid service and that caused tension with my partner. Ultimately I gave up my portion of the maid service (which shut down shortly thereafter). It was at this point that another friend approached me about what became ZenMaid. He felt he could build a better management platform than the one he'd seen me using. And he was confident that I could sell and market the software given my skill set and industry knowledge. Hence ZenMaid was born (initially named MaidDesk though I doubt that's ever been mentioned anywhere publicly before now :-) ) While working full time (myself at a startup, my co-founder on his PhD at Stanford University) we began simultaneously working on the product and getting in contact with as many maid service owners and offices as we could. Take us through the process of building the product.My co-founder Arun was familiar with the coding language Python but decided after reviewing some of the existing libraries that Ruby on Rails was the right way for us to proceed. … so he taught himself Ruby in ~8 days and got to work. I'm still baffled by this looking back on it. It took almost 6 months to get a working prototype due to Arun's PhD program at Stanford (he worked from 11 pm to 3 am most nights on ZenMaid). I spent that entire time calling maid service owners and offices. Due to my work schedule (1.5 hour commute to SF each day) I made calls between 5 am and 8 am on weekdays before going into work and all day on Saturdays. We made the decision to focus our efforts on an easy to use calendar that specifically focused on truly recurring services (something that's unique to maid services and housekeeping companies) and on automated communications around the appointments. To this day that is still our bread and butter, though we've added many features and benefits since. A lot of people have asked about our startup costs but we didn't really have any due to our combined skill sets. The only expense we took on was once the product was live was ~$100-$200 per month for Google AdWords so we could get consistent traffic to our website and app. Describe the process of launching the business.We didn't do much of a launch for ZenMaid as we didn't have an audience to announce to. We paid for a press release service that didn't do much but I did reach out to everyone I had been talking to when the software was ready. Our first customer came onboard for $1000 for life, paid over 4 months (we have given a few other maid service owners lifetime access for a set price but we quickly moved to a more traditional SaaS model priced monthly which now starts at $49) We already had a landing page at this point as I was treating the business/product as if we were ready at least 3 months prior to the software being launched. I believe we initially used a tool called LaunchRock and then moved to WordPress with a theme quite quickly. The ZenMaid WordPress page from December 2013: Launch numbers (this was fun to look up in Stripe) : We brought on our first customer on September 9, 2013 and ended that year with 5 customers (though 13 had tried and paid us for at least a month) so clearly there wasn't much of a launch event Since launch, what has worked to attract and retain customers?ZenMaid has always relied heavily on paid advertising (Google, Capterra, LinkedIn, Facebook) for a constant flow of leads however we quickly branched out from there to do content marketing which helped with SEO and a variety of other things. We actually stumbled on this by accident when I took the keywords I had researched for my maid service and I shared them in a Google Spreadsheet which we hid behind an email gate. This was our very first lead magnet and to this day it still gets us more leads than anything else :-) From there we built an extensive email marketing funnel that's almost all quality content. Our goal is to never be forgotten by our leads because when they're ready for our software, they'll let us know. Essentially any maid service owner that signs up for our email list will receive high quality, implementable content for their businesses for almost two years, each email having a small, unobtrusive link at the bottom to learn more about the software. If they click this link they'll get a couple more targeted emails. I set this up following Ryan Deiss' The Machine course a few years ago. Two quick examples of awesome content we've done would be The Ultimate Hiring Panel, where we interview 3 industry experts on their hiring best practices, and "Steal This Cancellation Policy for Your Maid Service", which is exactly what it sounds like: 3 example cancellation policies that can be copy pasta'd into a maid service whether they use ZenMaid or not. More recently we've added in extensive Facebook retargeting campaigns, also focused on quality content, that we use to nurture the leads we get from other channels. And finally, what we're best known for in the industry, is our Facebook group, the ZenMaid Mastermind. We built the first widely joined community (some existed before us but were quite dead, and many have appeared since we did it) and at the 2015 industry event we were the talk of the town. More people knew us from that community than for our software though that's changed since. It's still where we get lots of leads, content ideas, and feedback on our software! Building the Facebook group The Facebook group actually happened by accident - I had a crazy idea that we could start a membership site and do it on Facebook so I launched a $19 per month subscription to our email list. Two months later and after signing up a whole 3 (THREE) members, I realized it wasn't the time or place (in hindsight this failure was 100% on me and had nothing to do with timing or anything other than my lack of experience) We refunded the money of the members who had joined but left the group up on Facebook. Over time I started inviting people to join if they added me as a friend and were part of the industry. Fast forward a year and we had 50 members who were starting to chat regularly when an awesomely epic thread appeared. I sent an email to our list letting them know they might be interested and 50 members turned into 200 overnight. We haven't looked back since. What was the thread? You know how they say Sex sells… One of the cleaning clients caught the team lead and a cleaner having sex in her bathroom while they were supposed to be cleaning. To make matters worse the 3rd cleaner on the team in question was the WIFE of the team lead (yes, you're reading that right) Epic, hilarious, and very beneficial to our business. Since that time we've built up the group with great content and discussion as well as making it a safe place for owners to let loose and rant (my approach was to make this a place online that maid service owners could get the help they need but also relax with a glass of wine at the end of a long day and chat with their friends) These days we do regular Facebook Lives and feature many of the industry's leading experts :-) And all of this has led to speaking engagements for myself and partnerships with almost every big name consultant in the industry. It helps a lot when we have a bigger audience than they do so at some point there was a snowball effect where most influencers chase us rather than the other way around. For example, we have a virtual summit coming up this year and, where most organizers have to chase speakers, we had 25 confirmed presenters within 24 hours of making contact with the first one. How are you doing today and what does the future look like?We recently passed the half million dollar yearly mark and will be breaking the million dollar a year barrier in late-2020. That will actually happen much sooner if we can accomplish the 3 primary goals I have in mind for ZenMaid going forward - two of which I consider to be "holy grails" 1 - To extend our lead as industry leaders. It sounds weird to me to answer that but after 6 years of hard work and focus the truth is ZenMaid is now the gold standard in the house cleaning industry for software. We have some very good competition but none are focused on our industry specifically which gives us a lot of advantages that we've piled up over the years (for example, we now employ 4 current or former maid service owners which puts our support heads and shoulders above other software who serve our audience) 2 - Negative net churn. We recently changed our pricing to grow every month with our customers as they are more successful. That change has lowered our churn significantly but we do still lose money each month from our current customers. By the end of 2019 I'd like us to actually make more from our existing customers even if we continue to lose ~5% of them each month. Software folk will recognize this as the SaaS holy grail, and we think it's possible for ZenMaid :-) 3 - Paid marketing that pays for itself (I'm not sure what the right term is for this - any readers want to let me know in the comments?) Inspired by Russel Brunson who actually makes money advertising ClickFunnels before people convert to paying software users … With our current lead costs my goal is to get a $97 or $197 info product that's part of our email automations so that we can advertise the software and immediately recoup our advertising spend. If we can achieve #1 and #2 simultaneously the sky's the limit for ZenMaid, particularly as a bootstrapped company. It's the holy grail of marketing in my opinion. Through starting the business, have you learned anything particularly helpful or advantageous?Test test test would be lesson #1 as we essentially lit our business on fire overnight about 2 years back. We had the best intentions and it absolutely turned out for the best but we burnt a lot of bridges and lost almost 30% of our revenue because we didn't do enough testing prior to releasing a massive update on our software. Lesson #2 would be something I learned from Tim Ferriss which is "treat everyone like they can put you on the front page of the New York Times". A lot of our best partnerships and relationships have come because I simply cared more about the actual people than our competition a few months or even years before either we could help them or they could help us. We've had multiple customers sign up who currently pay us thousands of dollars a month who knew me 6 years ago when the company was starting but we weren't sophisticated enough for their businesses. On a similar note I've gone out of my way to help up and coming consultants, some of which became quite big years after and now refer us business left and right. And most consultants in the industry know they can approach me for tech or marketing advice if they want it. I'll even fix problems for them (usually paying money out of my own pocket to do so) if I know it's considerably easier for me or my team to do than for them. Lesson #3 would be to simply Not Quit. Everything in our business these days sounds like flowers and sunshine (and profits) but I can point to at least 20 situations where other entrepreneurs would have thrown in the towel. The reason we're in business and successful today was that we never gave up when things got challenging. It's easy to run a business when things go well, it's what happens when the sh*t hits the fan that actually defines you and your success. What platform/tools do you use for your business?We use a lot of software as a software company so here are our daily ones: Slack - for chatting when an email is unnecessary. Group discussions and etc. I've seen people mention this can be a big distraction but with a remote team it's absolutely vital to everything we do ActiveCampaign - Email marketing and automation, we're known in the industry for our email marketing and current email leads will receive messages for approximately 2 years after registering so this one's important fo' sho Intercom - I hate their pricing with a passion as it changes every month but they've done a great job of infiltrating every part of our customer process. We use them for support but also as a sort of customer dashboard (easier for us to find users with over X employees using intercom than anywhere else, for example) What have been the most influential books, podcasts, or other resources?I listen to a ton of books these days (Audible on 3x speed) so there's a lot to pick from but here are a couple that I think helped me a lot as I got started: The Four Hour Work Week - the lifestyle dream was always my why after reading this book Jobs by Walter Isaacson - this book completely shifted how I approached building the ZenMaid product and taking pride in many of the little details in our business I previously thought were unimportant The Fish That Ate The Whale - Best entrepreneur [true] story I've ever read - everything about this man's life is epic The Foundation - a online course to help folks like me start software businesses. We went through this after picking up our first 5 customers and came out the other side with over 30 Straight Line Persuasion - a sales course by Jordan Belfort, who everyone knows from the Wolf of Wall Street. I was already in sales and this course took my sales game to a new level. Shortly after listening to it we had our first +$200 MRR day which at the time was absolutely massive for us Advice for other entrepreneurs who want to get started or are just starting out?The main advice I would give to both starting entrepreneurs and even experienced one is to focus on FEEDBACK LOOPS, and increase the speed at which you go through them. A feedback loop is essentially asking yourself "How can I figure out if I'm on the right track as quickly as possible?" For ZenMaid we'll run article headlines and outlines by our audience before we create content. We'll do quick mockups of new features and share them first with our team, then with our champion user group on Facebook to find whether we're on the right track to solve the problems we intend to. This has been absolutely invaluable. For a new entrepreneur, don't fall into the classic trap of spending months building or working on something, only to find out when you launch that no one is interested. This is why I spent so much time calling maid service owners while we were developing the software and getting as much input from them as I possibly could. And this was despite the fact we "knew" what we were building. Are you looking to hire for certain positions right now?We try to keep our dev team lean and fast moving but on the non-tech side I'm always on the lookout for two types of people - entrepreneurial marketers and maid service owners. Most of the ZenMaid team members work part time for us and have their own businesses I'm happy to help them build. Anyone who can help me to get more leads, or convert more maid service owners into active users, is going to have my attention. For quite a few of our entrepreneurial team members their other business is an actual maid service in which they use ZenMaid. I can't dogfood my own software anymore since exiting my maid service. But the next best thing is hiring our customers or potential customers to help with customer service, marketing, account management, and more. Where can we go to learn more?
If you have any questions or comments, drop a comment below! Liked this text interview? Check out the full interview with photos, tools, books, and other data. For more interviews, check out r/starter_story - I post new stories there daily. Interested in sharing your own story? Send me a PM [link] [comments]  |
| "Thinking Fast and Slow" is a must read for every entrepreneur Posted: 15 Jun 2019 11:17 AM PDT I am reading "Thinking Fast and Slow" by Danny Kehnerman. It is a fascinating read which should make your projections better, VCs better at assessing companies, and everyone a little more realistic. I believe the business community will be divided between those who have read it and adjusted to address the things that he says and those who have not. The former will be far more successful. [link] [comments]  |
| What’s your favorite/most effective marketing techniques? Posted: 15 Jun 2019 01:22 PM PDT What's your favorite marketing techniques?? How do you go about it? [link] [comments]  |
| Me and my friend are trying to start up a business Posted: 15 Jun 2019 01:46 PM PDT Me and my boy are tryna start a business you know something small to get our feet wet , we want to do like custom hydro dipped shoes and custom shirts as a start up. Any suggestions or advice ? we both are young 18/19 [link] [comments]  |
| I want to start something entrepreneurial related with a friend, but I don’t know what. Posted: 15 Jun 2019 01:43 PM PDT A friend and I have been joking around about starting a hedge fund when we grow up, but it's become a serious thought recently. He's entering college and I'm entering high school. We both are really interested in anything entrepreneurial related and both want to become entrepreneurs when we grow up. Usually, our conversations consist of advice and our thoughts on different companies, but it's not limited to that. I want to start something now together, but I don't know what we can do. Any advice/ideas? [link] [comments]  |
| Should I start a Youtube channel in my native language or English? Posted: 15 Jun 2019 01:25 PM PDT I am about to start a new YouTube channel as a personal brand under my name Sebastiaan Vaz where I will be speaking about the four main aspects of life (health, wealth, love and fulfillment) and how to improve each of those aspects. As a focus, to begin with, I will start mainly with advice on how to be a more attractive man to attractive women. I really want to do this in Dutch, as I am quite aware of how much content in English already is available and how little there is in the Dutch language in comparison. Also, I have this vision in mind where I become well known in the Netherlands for my challenging and interesting ideas and that I will be invited to Dutch media (it doesn't take that much fame over here). However, at the same time I also really care about impacting as many people as possible and making the biggest change I can make. To finish it off, I also care about the business aspect (subscribers, revenue, etc) and obviously the English market is at least 30 times bigger than the Dutch market. All in all, it's a quite difficult decision to make. On the one hand, I want to impact the Netherlands, make my country proud and become a sort of small celebrity here. On the other, I want to have the biggest reach and most potential for growing my channel and business. I know that in the end, it's a personal choice to make, but perhaps anybody can give me some directions, tips or idea's. It'd be highly appreciated. P.s I speak fluent English with a very slight accent. That won't be an issue. [link] [comments]  |
| [UK] Starting a vegan, micro batch drinks company. Concerned about food standards. Posted: 15 Jun 2019 05:39 AM PDT Hi guys. So I've been tinkering with some non-dairy milk recipes and have come up with a great one that I can produce at a decent profit. I'd appreciate any help you guys can offer on the following questions: - How do I monitor and maintain quality of product? - What information do I need to put on the label? - How do I figure out the nutritional content? - Which food standards/regulations do I need to adhere to? I'm thinking of not only the product but the production area too. Thanks in advance! [link] [comments]  |
| Anyone here own/operate a (Smart) parking business? Posted: 15 Jun 2019 12:31 PM PDT |
| Starting up a company with no income google wants a license Posted: 15 Jun 2019 12:14 PM PDT I've created a website for a web development company and I've been a sole proprietorship for the last two years. I've made less than 10k each year. Unregistered, and working on things and claiming them personally at the end of the year. I went to list a business on google and they denied my claim and blacklisted me from being registered as a legitimate business. I told them my situation, and they said I needed a license. I'm interested in pursuing such a thing, but I really don't make enough money to justify the effort in licensing myself as an llc. Please advise, thank you! [link] [comments]  |
| Posted: 15 Jun 2019 12:05 PM PDT Hi all, hoping someone can give me some advice! I own a few small businesses, and have loaned the businesses money, but they've always been loans (paid back capital plus interest over X months). I currently want to invest into one of my newest ventures which is split between 3 directors (me and two others), all with equal shares. I want to invest a big chunk of cash (£100k), and wondered how much more of a percentage is 'standard' to ask for, if there is a standard at all. The other partners are working full-time in the business, but are not investing any money. This is the first time I'd be investing into my business where it will not be treated as a loan, instead I'm looking for more shares, but don't have a clue what would be fair. Has anyone had any experience with this / advice? Thank you in advance! [link] [comments]  |
| What's missing from entrepreneur vloggers? Posted: 15 Jun 2019 11:18 AM PDT Hey everyone, my name is Darren and I've just started vlogging about entrepreneurship and providing digital marketing advice, tips and tricks. I'm just requiring a little bit of market research. When you watch business vloggers, what do you feel is missing? What can I provide in terms of value to you that isn't as easy to come by from someone like GaryVee? I hope you're all doing well! :) [link] [comments]  |
| How did you garner interest early on for your free app/free product? Posted: 15 Jun 2019 10:50 AM PDT Hello r/Entrepreneur! I've been working on a mobile app (ios/android) that is 100% free to use. It's not launched yet, but I've gained some interest early on from a lot of people in the music/entertainment industry and they have added their emails to our running Beta waitlist. I've been cold emailing potentially users with some targeting messaging, most of which is completely personalized (which yes, takes a lot of time to do especially when it's personalized) but was looking for some advice on other potential ways to put my product in front of people. So my main question: How did you garner interest early on for your app/free product? What tactics did you use that helped you gain a strong user base with limited funding? I'll respect the community rules by not posting links to my specific page, but if you are interested you can DM me and I'd be happy to share so you can have more context. Thanks r/Entrepreneur, this is a solid sub with amazing advice! [link] [comments]  |
| "I once was homeless, now I'm not." Posted: 15 Jun 2019 10:42 AM PDT One thing that used to waste a lot of my time was the constant search for the right method or technique. I spent more time reading about marketing than looking for customers. And then, I'd argue about things on social media - things that I'd never implemented in real life. So, when I made a vow never to get a job again, I meant it. It was an irreversible commitment to being an entrepreneur. At a point in time, things didn't work out and I ended up sleeping on the streets. It was either sleep at the train station or get a job. Well, I had already made the commitment so... The thing is, when you're on the streets no B.S. trick is going to save you. You have to rely on your primal instincts. You may see being homeless as a failure. Yet, you would be surprised that that's how I came to some of the biggest discoveries of my life. For example, I found out that:
There is no denying that getting things to work is hard. You have to learn to live without social approval. You have to face yourself - in a way, you're your own biggest opponent. You have to trade comfort and approval for your own confidence. As I said, when you're on the streets, you have to trust your instincts. You have to do your best with what you've got. What got me out of the situation was applying the three things that serve me well till today. The first one is, having a skill. In my case, it's the ability to code. I had a laptop that didn't have the left The second one was relentless focus on what the customers want. This is where most people fail. A few people are willing to discover that they created something nobody cares about. I think that's why they fall for gimmicks. But, in my situation it had to work - so created my method for entering a market. I call it proactive research. The third thing was taking action. When you're down on the canvas, you're either get up or you're out of the fight. The only way to stay in the fight is by acting on your ideas. So, I did. In the end, it all came together it was like magic. The money kept coming into my PayPal account every time I refreshed the screen. As you can guess, one of the first things I did was to get a warm meal and a nice hotel room! The biggest lesson in all this was that we're not conditioned to win. We focus so much on symbols of success and being accepted that we ignore our inner voice. It's only when we have no other choice that we finally start to listen to ourselves. Perhaps that's why many successful people say that their biggest win came after their biggest failure. Today, I do my best to put these lessons in everything I do. It doesn't matter whether it's client work or for myself. There is always something deep inside that can give you that extra edge. So... do this today. Take a break from everything. Close your eyes. Relax. Listen to yourself. And, most importantly, trust what you hear! [link] [comments]  |
| Posted: 15 Jun 2019 09:34 AM PDT So I'm wondering, I see tons of listings like this on Flippa: https://flippa.com/10205517-galaxy . According to the listing it's making about $600 profit per month but has a buy it now of $2,000? If the revenue is verified (I assume Flippa checks this) isn't that, like, an insanely good deal? I'm new to the app space and trying to figure out the pitfalls and dangers. This is clearly too good to be true. I did further research and found I can't find this "galaxy" app in the Play store when I search for it. Given that, all the traffic must be paid... Seems suspicious to pay only $100 in Facebook ads to get all the traffic to an app making $700 a month. Plus, the app itself has frankly pretty crappy looking gameplay. What am I missing? A 30% monthly ROI is insane, unless this thing is going to completely collapse on itself in the next two weeks or something. [link] [comments]  |
| Question : Typical agreement between principals / officers of a business venture Posted: 15 Jun 2019 09:04 AM PDT Hi Everyone, I am curious what solutions people have been successful with when it comes to establishing the agreement between parties in a business venture. Since every situation can be unique, as I am realizing while reading this subreddit, I thought I would ask about the situation I have found myself in. Currently I am obtaining a land venture loan (land subdividing) and need to find a "co-principal" with sufficient assets plus the LTV or percent down is still unknown. Now I understand there is a number of people who invest in projects as just a "money person" essentially but, what is the agreement? Considering the loan being secured by real property and very little money (comparably) being used for the soft costs, it seems very low risk. What type of agreement is favorable to myself and another party? In this example the venture loan would not have periodic payments but a balloon payment due well after the parcel will be bought , divided, and sold. [link] [comments]  |
| Cybersecurity industry, any advice? Posted: 15 Jun 2019 08:34 AM PDT Alright so I'm going to turn 18 in a few months and fly out to Vegas to work on a digital marketing partnership I have 15% equity in. During that time I'm going to go after my CEH, CompTIA Security+ and OSCP certifications because I always wanted to start my own cybersecurity business. By the time we sell our marketing company, let's imagine both me and him combined put down 2 million on the table to start this thing. Anyone got any advice as what we should or shouldn't do? From startup to growth and expansion? [link] [comments]  |
| Advice for early stage funding Posted: 15 Jun 2019 08:21 AM PDT Hello r/entrepreneur! I wanted to reach out to all of you today to seek some advice. Before I jump right in, let me first explain my situation. My partner and I are both 23, we live in Colorado and are trying to enter into the cannabis industry, specifically industrial hemp. Our goal is to open a contract manufacturing lab which utilized both flash Chromatography and HPLC to remove all of the THC from CBD distillates or crude oil. This will allow our customers to ship their products across state lines and internationally, as well as differentiate themselves from the market without the need to spend a bunch of money to do it in house themselves. My partner and I are returning from a business conference today and many experts in the field seemed to be very interested in our idea. While we are very excited we are also feeling slightly overwhelmed (as is to be expected trying to form a new startup!). My background is in Biochemistry and neuroscience. I have a bachelors degree in both, and about 4 years of chromatography experience from working in biochemistry labs in college. My partner has a sales background and dropped out of trade school to work on this full time with me. I am confident in my ability to establish standard operating procedures for this machine. However I believe the best course of action would be to utilize PhD level consultants to establish our SOP's. After establishing our SOP's I am 100% confident that I will be able to "run" the lab. The thing about Chromatography, it is very high tech and somewhat complicated, but is a fairly old technology and people have been using it for many many years. The work we would be doing is not PhD level stuff... however my concern is trying to convince a potential investor that I can do the job. Our current funding situation is as follows, 75,000 from my partner, 75,000 from me, and 100,000 from a family friend investor leaving us at 250,000 total. We have just scheduled a meeting next week with a potential private 3rd party investor who is very interested in what we are doing. My big concern is trying to convince our investor to trust two 23 year olds to start a new science based company. I was hoping that some of you had advice or insights on my current situation. I understand that we are fairly weak on paper, but we are great in person and I am very confident I can oversee the technical laboratory work. How should we respond if he attempts to pry into our background? From the prospective of a potential investor, how should we sell ourselves? Thank you all so much for your time and consideration. Any advice, tips, or opinions are welcome and appreciated. EDIT: Just to Clarify, this investor reached out to us, we did not reach out to him. Also he has funded other cannabis based Chromatography ventures this year. It's not that we need to convince him this is a good idea, we need to convince him that we can pull it off. TLDR; my partner and I want to open a science based company in the cannabis industry. How can we better sell ourselves to potential investors if I have a bachelors in biochemistry and my partner comes from sales? [link] [comments]  |
| Should I do a Shopify Blog connected to my site? Or a separately hosted blog? Posted: 15 Jun 2019 08:06 AM PDT Hello, I want to create a blog that will drive traffic to my Shopify site (where I sell handcrafted hollow book safes). I want to make posts about how to make hollow books/history of hiding things/gifting ideas/etc to drive traffic. Shopify has a connected blog. Should I use that or create a separate blog like a wordpress one? Thanks in advance for any advice! -Kara [link] [comments]  |
| Do subscription services make a sizable portion of income from forgetting to cancel? Posted: 14 Jun 2019 06:00 PM PDT Hi, has anyone read any statistics about the income that subscription services make from people forgetting to cancel the service? [link] [comments]  |
| Posted: 15 Jun 2019 07:28 AM PDT Hi All, I am looking for some service recommendations. I have a consulting client who wants to start selling sport jerseys, coffee mugs, key chains, jackets sweaters etc. Even though I told them i have no experience in building a shop like that they asked me to try anyway lol. Is there an all-in one service out there that allows us to go from uploading designs, designing the store front and all the way to manufacturing and shipping for us? And all we have to do is sell the products? Might be a pipe dream but I sometimes here that there is a service out there like this. Thank you. [link] [comments]  |
| How does liability insurance work with multiple, related LLCs? Posted: 15 Jun 2019 07:20 AM PDT I currently have an LLC (LLC1) and have professional liability and errors and omissions insurance policies in place for it. I want create two more LLCs (LLC2 and LLC3) that are linked to LLC1. LLC2 would become the parent company and LLC1 and LLC3 would be subsidiaries of LLC2. All three LLCs would provide similar consulting services. What, if any protection/coverage would my current insurance policies for LLC1 provide for LLC2 and LLC3? Do I need new, separate policies for each new LLC? I am very confused as to how this works and would be very appreciative of any guidance with this. [link] [comments]  |
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