Accomplishments and Lesson Learned Friday! - (July 05, 2019) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (July 05, 2019)
- PSA: Avoid GoDaddy for registering domains and web hosting.
- Facebook Keeps Getting Disabled
- What are you guys using for landing pages?
- Help selling in to big corporate
- Anyone willing to create a reading list for this sub?
- WordPress theme/plugin Sellers: How do you RANK at the top of WordPress.org ??
- Interested in designing an app, but I don't code. Where to start?
- Biggest Issues with Executing Digital Marketing/SEO?
- Tips for dealing with GoDaddy (if you have to), mostly for auction domains
- Looking for books on helping others address and solve their problems. (+ one unusual recommendation from me)
- What are the best ways to make money online in 2019 with little investment from start?
- $100k/mo selling guitars.
- Really want to get in the business and sales world any recommendations for 5 books to start off with
- What to make of this offer? Employee pay for equity in a "Start-Up" ?
- Startups or any Entrepreneurs in Movie industry?
- Do you need to code or very extroverted to become a successful entrepreneur?
- multiple small approaches vs one big approach?
- Someone came out with a similar product i wanted to make, should i do it anyway?
- Dropshipping outside the US
- Market research: are IBIS reports reliable?
- What is a good process for crafting/creating business ideas?
- Finding a Technical Co-founder
- Quote : "The difference between a dream and a goal is a timeline and accountability".
- Best remote jobs to apply for?
| Accomplishments and Lesson Learned Friday! - (July 05, 2019) Posted: 05 Jul 2019 06:15 AM PDT Please use this thread to share any accomplishment you care to gloat about, and some lessons learned. This is a weekly thread to encourage new members to participate, and post their accomplishments, as well as give the veterans an opportunity to inspire the up-and-comers. 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]  |
| PSA: Avoid GoDaddy for registering domains and web hosting. Posted: 05 Jul 2019 04:33 AM PDT I had the unpleasant experience of using GoDaddy recently for a web design client and it made me appreciate that I was told to avoid the company 6 years ago when I began digital entrepreneurship. Why?
Please do some research before committing to a hosting and domain provider. Don't make the mistake of thinking GoDaddy is the best option because it is the biggest company. EDIT: Since some of you have been asking what my suggestions would be, I will try to offer up my knowledge on the topic and give you my suggested choices. If you know a good provider let everyone know in the comments. You generally want to avoid using one provider for domains, hosting, and email. Sometimes this may work out cheaper and there are exceptions to when this is a good idea. In most cases, it is best to keep it all separate, as there is no explicit benefit to having domains, hosting and email all handled by one provider. For domains: Namecheap: .com from $8.88 (sometimes you can get .com for $1 the first year with KINGCOM promo code My personal choice and that of many professionals in the industry. You can't go wrong with Namecheap. Speak to anyone who has used them and you will know they offer solid support with all the functionality you could ever need for your site. Their pricing is fair and honest, you won't see any surprise charges appearing on your account at the end of the year. Google Domains: .com from $12 I have heard good things about Google domains and they may be a serious contender if your company is using gsuite already. Although the process isn't difficult to point your MX records to Google, Namecheap even does it automatically with one click. Ultimately a domain is a domain and you want to purchase it for a fair price, point it to your servers and mail provider and forget it exists. I think Namecheap ticks all the boxes, but others will disagree. One thing to remember is that many providers (GoDaddy) will make it extremely difficult to get out of once you have purchased the domain through them. This may be fine while it works but as soon as you have a problem, your screwed. Just read the comments on this post and you'll see what I'm talking about. For Hosting This is a much more complex topic and one of much discussion and debate in the web development world. It will entirely depend on your technical ability, requirements, stack etc. I'll try and give my examples with some information into what use case it would be beneficial for and my own personal experiences. Just for the love of God, under no circumstances should you use GoDaddy. Cloudways (My choice for Wordpress hosting): From $8p/m with black Friday code BLACK20 (still works) Cloudways have a range of managed hosting options available to users. I use them for all the Wordpress sites I host because the service is so great (for my needs) I have never felt unhappy with them. While there are better, cheaper options available for experienced webmasters, I personally find Cloudways does everything I need with great performance, speed, and price point. If you're looking for a one-click install of WordPress with all the features under one roof, cloudways makes it easy as hell. They simplify the whole process making it much quicker to get set-up and when I'm working with clients time is money. I used their basic $8 a month managed digital ocean droplet for years with no complaints from my clients.
WPEngine: Starts at $35 a month - you can find discount codes sometimes if you dig deep. A more beefy service for those of you who want better performance or have heavy traffic. I have used WPEngine on a clients site and have nothing but good things to say
One negative with WPengine is the price, for people starting out or with only a couple of sites, it probably not worth it. For static HTML sites Firebase: FREE Github Pages: FREE Similar service offered by both these providers. Firebase is operated by Google and I use them for all my static websites. Unbelievably fast speeds. One of my sites on firebase loads in under a second with lots of JS - this is great for SEO now and I found this site ranks much better since I moved it off Wordpress. For mail GSUITE: My personal choice I have used google for all my business mail needs for years, never had any problems. It's reasonably priced but the value of being within the Google ecosystem is unmatched by any other provider. I never felt any need to move away from google for this and it just works the way it should. My business is email critical and so I don't want to experiment with other options because Google does eveything I need it to extremely well and more. [link] [comments]  |
| Facebook Keeps Getting Disabled Posted: 05 Jul 2019 11:57 AM PDT Facebook has never really been my thing, but I am trying to create a personal account in order to create a business page for a company I just recently started. However, my first account I tried to create got disabled. It said I needed to send in ID to prove it was me. I submitted the ID and it's been over a week and still no word on my account. No email, no nothing. Today I decided to try making an account again with a different email. I created the account and added friends and family and then added a profile picture. Shortly after this, the account also got disabled. It is getting very frustrating and I don't know what to do. It is especially frustrating because Facebook has no email or help phone number to contact. How can a company that big not have this to serve their customers? It's ridiculous. Furthermore... WHY DO THEY KEEP DISABLING MY ACCOUNT!???? If anyone knows what to do, please let me know. [link] [comments]  |
| What are you guys using for landing pages? Posted: 05 Jul 2019 01:25 PM PDT All the major builders have shitty templates like Unbounce, ClickFunnels and others. [link] [comments]  |
| Help selling in to big corporate Posted: 05 Jul 2019 12:36 PM PDT Hi all, long time lurker here. Hope this is OK to post. I have a new product that has been developed over a year and now I want to start selling this to some big corporates. I have very good contacts, so I can get the meeting but I'm not the best 'sales' person. What I mean is that I know the product inside out, so I can talk about that, but I know I need to talk about it in a way that solves their problems not just why I made it. The product would improve their customer experience, and should make people buy more, stay longer, and introduce new customers to their business. (sorry I'm being a little vague on the details). I was hoping for any tips, advice, anecdotes about peoples experience selling in to a big corporate when they are just a start-up with a relatively unproven product that they know would work. Thank you so much for any responses. [link] [comments]  |
| Anyone willing to create a reading list for this sub? Posted: 05 Jul 2019 11:57 AM PDT There are so many threads with so many books. Anyone willing to create a succinct list? If so, here are some suggestions: Create categories for the books: Sales, Marketing, Finance, Motivation and Inspiration, Biographies, Technical (Business Terms, LLC vs Other Types, etc...), etc... Look through threads and include all the popular answers [link] [comments]  |
| WordPress theme/plugin Sellers: How do you RANK at the top of WordPress.org ?? Posted: 05 Jul 2019 09:39 AM PDT Hey all, so I have some themes in wordpress.org free themes directory (https://www.wordpress.org/themes). Same themes that uses see inside their WP Dashboard when they go to install new themes. How do I go about making them ranked at the top of each category or in the popular section? How did you do it? Thank you everyone for help [link] [comments]  |
| Interested in designing an app, but I don't code. Where to start? Posted: 05 Jul 2019 02:11 PM PDT I have an app idea but I have no idea how to develope it, where to find a potential programmer, how to get the best bang for my buck, etc. Anyone been through this process that has some tips for me? Thanks all! [link] [comments]  |
| Biggest Issues with Executing Digital Marketing/SEO? Posted: 05 Jul 2019 01:43 PM PDT Hi All, I was wondering if you had issues getting Digital Marketing/SEO off the ground/maintaining it? What are your biggest pain points? What problems do you wish you could solve quickly and cheaply? Thanks much! [link] [comments]  |
| Tips for dealing with GoDaddy (if you have to), mostly for auction domains Posted: 05 Jul 2019 09:48 AM PDT Me: "I'm sorry, but I can I have someone's email to resolve this? I don't really think you understand what you're doing here." GoDaddy support agent: "I know" This was one of the gems from my conversation with their support today. There's plenty more where that came from. If you're gonna outsource your support, make sure they can at least be coherent when talking to your clients. Anyway, just saw someone complaining about GoDaddy again so I thought I'd write this up. Here are some tips for dealing with GoDaddy:
[link] [comments]  |
| Posted: 05 Jul 2019 01:24 PM PDT I'm not a manager but I'm often in a situation when someone has a problem and I have ideas. I want to be better at addressing them. What books do you know that cover this subject? One amazing book that inspired me to ask this question is not about management - it's about raising children. Raising human beings provides a great language about solving problems with others (children but applies to adults) together - instead of problems, there are concerns. They are not caused by flaws, but incompatibilities. The author even presents several-step framework on walking through a problem together with a child (steps go like "empathy step", "defined adult's concern step" etc.), with many, many real world examples. I think this is super applicable to adult issues. I would like to see something as systematized as this, but for "adult" mentoring applications. Can you help me with this? Btw read that book, it's amazing. There's also much more in it than what I described, e.g. author motivates that the child fundamentally wants to do what you want, just sometimes doesn't know how. [link] [comments]  |
| What are the best ways to make money online in 2019 with little investment from start? Posted: 04 Jul 2019 08:59 PM PDT I'm thinking of giving my hand at dropshipping for a second time, but would like other opinions. If you know any affordable courses I could purchase, I would like to hear from you. [link] [comments]  |
| Posted: 05 Jul 2019 09:15 AM PDT Hey - Pat from StarterStory.com here with another interview. Today's interview is with Adam Klosowiak of KLOS Guitars, a brand that sells carbon fiber instruments. Some stats:
Hello! Who are you and what business did you start?My name is Adam Klosowiak and I'm the cofounder and CEO of KLOS Guitars, a company that builds durable, portable, and great sounding sleek carbon fiber guitars and ukuleles. KLOS Guitars flagship product is our travel guitar, which launched in 2015. The travel guitar is a mini-dreadnought shape and features a carbon fiber body and soundboard with a mahogany neck. The guitar can be folded in half by removing the neck, and our portable gig bag can also be folded to be converted into a backpack. Since the launch of the travel guitar, we have also come out with a slightly smaller than dreadnought guitar and a ukulele. KLOS Guitars launched on Kickstarter in June of 2015 and did $33k in sales that year. Now, four years later, we've shipped to over 70 countries and all 50 states and we're doing over $100k per month in sales mostly on Shopify. What's your backstory and how did you come up with the idea?KLOS Guitars is the first company that I started. And how I got here is quite the unconventional path. I'm from the suburbs of Chicago originally. After graduating high school I went to Princeton University to study electrical engineering with an emphasis on semiconductor physics, which was fueled by my passion for science and a curiosity of how things work. I first dipped my toes into entrepreneurship my junior year when I entered into a Hackathon with two of my peers. The three of us felt that our curriculum was too theoretical and we wanted to test our hands on skills by building something practical. We came up with Dorm Control, which was a bluetooth controlled power strip that you could control via your phone. We were surprised to win the hackathon, the prize being a $20k summer accelerator with StartEngine out of LA. I didn't ultimately take that offer, but in analyzing the decision, I for the first time thought about not just the technical side of a product but the market size, competition, and product launch strategy - areas that I found to be fascinating. Fast forward about a year, I was visiting my brother Ian in Utah for a ski trip in the winter of 2015. Ian was a very good guitar player and was also beginning to become quite the expert in carbon fiber through his mechanical engineering degree from BYU. The idea for the first KLOS carbon fiber travel guitar really came out of the happenstance chain of events that a couple months previous, my wooden travel guitar had cracked due to cold temperatures. Ian had been wanting to build a carbon fiber guitar for quite some time out of his affinity for the material and the instrument, and the fact that all other carbon fiber guitars on the market were $1500+ finally pushed him to finally make the first prototype. Some background on carbon fiber and the instrument world should help contextualize the idea of a carbon fiber instrument. Instruments have obviously long been made out of wood, and although it is a great material for making instruments, wood is quite a fragile material. It dries out and warps with time, it's very affected by temperature and humidity, and most importantly all of these changes can be destructive in an instrument. Because of this, it's very common to have to humidify most wooden instruments to prevent their ultimate self-destruction. The results after dropping a cinder block on both a wooden ukulele and a caron fiber KLOS ukulele Conversely, carbon fiber is an extremely strong material that has an incredibly high strength to weight ratio, about 10 times that of steel. The material begins as a carbon fabric, that when infused with resin, hardens to whatever shape it is molded to. The most common question we get with using carbon fiber in instruments is does it sound good? Well, the amazing thing about the material is that there are many variables you can manipulate to have it behave exactly how you want it to. We manipulate the thickness of the carbon fiber, the internal foam material we use in the soundboard, the density of said foam layer, its thickness, bracing shape, size, thickness, etc. A KLOS carbon fiber travel guitar in use during a backpacking trip in the heat of Arizona. Suffice to say, the idea was one that I really believed in, especially having fallen victim to a broken wooden guitar myself. Being an eternal learner and having insatiable curiosity, I was ecstatic to have the opportunity to learn all aspects of starting a company with a product that I loved. It was the spring of my senior semester at Princeton and given how much free time I had, I threw myself into researching every aspect of product market fit, competitive landscape, market size, value proposition, pricing, go to market strategy and everything in between. Though I had no background in business, the scientific method that had been ingrained in my head through electrical engineering helped me identify and quickly learn everything I needed to as problems arose. Because prototyping and setting up manufacturing took so long during the first two years of the company, I actually had the opportunity to have two other jobs in addition to working on KLOS Guitars. The first year after college I taught English in a high school in Innsbruck, Austria as part of the Fulbright Fellowship. In the second year I was a management consultant for the consulting firm Strategy& in Washington, D.C. Both of these jobs definitely provided me with a lot of life experience that helped a lot when I finally jumped to full time with KLOS Guitars. Take us through the process of designing, prototyping, and manufacturing your first product.My brother and I were both broke college students when we started KLOS Guitars, and this really forced us to be extremely lean. When you have no money, you really have to get creative with how you get the things you need, be it information or materials. The qualities that we wanted the first model of the KLOS guitar to have were pretty clear to us from initial market research. We wanted the guitar to be the most affordable carbon fiber guitar on the market so that people like ourselves (college students at the time) could afford it. Using that as a starting point, we designed the body and soundboard, the two weakest parts of the guitar, to be made from carbon fiber, while keeping the neck made out of wood. We were and are the only guitar company to have this material combination. From there, we went about iterating a shape that would be most popular with the market, which is how we settled on the mini-dreadnought shape. We packed in other neat features that added to the guitar being even more portable, such as the neck being able to fold in half so facilitate compact travel. The first prototype had the original concept of a carbon fiber soundboard and body with a wooden neck, but was a little too unconventional in terms of body shape and headstock shape Once we settled on the design, we went about contacting suppliers who could produce the materials and the parts for us to eventually be able to produce at scale. Working with carbon fiber is actually quite a complex process, and the process of nailing down supply chain was a large part of the first 2-3 years. Long story short, with each part of the guitar, it came down to iterating samples with suppliers until the quality was excellent, then starting bulk production, creating rigorous quality control systems, and always continuing to improve. We have suppliers all over the world for parts and materials, we do some part production in-house, and we do the entire assembly and final quality inspection in our headquarters in Provo, UT. Describe the process of launching the business.When you walk into a guitar store, one of the first things you'll notice is that there are A LOT of guitar brands out there. We knew from the beginning that we needed to be different than conventional guitar brands in order to succeed in a competitive landscape. This meant not just having a unique product but also a unique go-to-market strategy. Given how little access to capital Ian and I had, we decided to launch our first guitar with Kickstarter. Launching with Kickstarter provided us with a product-market fit, customers, and most importantly capital to start building product and manufacturing systems. Crowdfunding was a platform that no other guitar companies were using at the time as well, so we were very unique. Since our first campaign in 2015, we've done 6+ other campaigns that have raised over $1 million in funding. Our Kickstarter strategy starting from the first one was quite similar. Most importantly, the main video has to be high quality and engaging content. The video needs to accurately portray the product, why it's unique, and how it can positively improve your lifestyle. In addition, the campaign page needs to strengthen all arguments made in your video, such as expanding on the technological innovation, the team that will implement the product, the current pain point of existing technology, etc. Once you have the page completely set up, you need to drive traffic to your page once you launch. This is where the heavy lifting comes in. We recommend doing paid advertising via Facebook and Google, but also reaching out to your personal network, personally contacting all PR and media companies that are relevant to your product, and really doing anything that will expose your product to an audience that cares. In addition to a unique product and launch strategy, we also wanted to have a unique marketing angle. We wanted to demonstrate our products in a cool and captivating way, and we were really inspired by Blendtec and their hilarious way of showing the strength of blending products such as iPhones. We came out with a durability test series where we highlighted the strength of our instruments through videos such as golfing with the guitar, using the guitar as a paddle, dropping a cinder block on a ukulele, and running a ukulele over with car. These videos help us get our initial traction by getting millions of views on different platforms such as Facebook and YouTube. https://www.youtube.com/watch?v=oANhEv3sj0I Since launch, what has worked to attract and retain customers?You really have to do anything and everything to attract customers. That being said, you also need to determine very quickly if a strategy will have a strong ROI or not, so that you can remain focused on the strategies that do work and hone in on those. For us, we have found that overwhelmingly Google and Facebook paid ads work very well for us, with ROAS being 3-5 there. For Facebook, our strategy is pretty typical where we start with high level prospecting ads that present general information about our brand. Then we drill deeper down into the details and functionality of our instruments via remarketing ads, which target people who have already engaged with previous ads. Google follows a similar pattern but is different in that the first engagement is generally more targeted because it's based on specific terms that Google users search. The full size dreadnought guitar being disassembled and put into a suitcase. SEO and organic search is also a major driver for us. Efforts that fall into this category are getting featured by blogs or media sources that are interested in KLOS Guitars, partnering with our brand ambassadors and customers to post about us online, facilitating a lot of reviews being posted, etc. The more unpaid content that is on the internet, the better Google is able to assess that the value of your site is high and should be featured more prominently in search results. Both organic and paid efforts go hand in hand with email marketing, which is more important further down the funnel. Our email marketing consists of giving new subscribers more information about our products and what makes them unique, as well as new customers how they can best engage with their instruments so they can fully experience the KLOS lifestyle! It's important to realize that different customers simply use different platforms, which is why it's important to have a presence on many platforms, while still spending most of your effort on the highest performing platforms. All platforms together form an ecosystem as well, and multiple touch points across many platforms is most effective for us. That might mean generating a lead on instagram, retargeting that potential customer on Facebook, capturing their email on the website and sending them an information video on YouTube, and then ultimately a coupon that helps facilitate the final conversion. Looping in other sales channels into that ecosystem, some people might go through that complex path, only to then prefer buying something on Amazon or Reverb, where they eventually purchase. The majority of our sales happen on our Shopify site, but we are on other sales platforms specifically for customers who prefer to shop there. How are you doing today and what does the future look like?We have been growing very quickly, with 70 instruments sold in 2015 and over 1600 instruments in 2018. This roughly equates to over a million dollars in sales last year. We're extremely excited about the future for a few reasons. This year, 2019, is the first year that we have our three current instruments (travel guitar, dreadnought guitar, and ukulele) in stock and readily available to ship. We're coming out with several new products this year, an electric guitar and full carbon fiber versions of our current product lines as well. Moreover, our manufacturing facility is also currently in its finest state ever. Should the need to scale arise, we're able to ramp up our capacity several fold without needing to move locations or change many systems. With scaling in mind, we've also begun to work with retailers all over the world to expand our sales channels from just eCommerce. Through starting the business, have you learned anything particularly helpful or advantageous?There are so many mistakes and successes that happen each day when you're starting a company, both on the business side and personally. The reality is that there will always be mistakes when you're starting a company, and in hindsight vision will always be 20/20. The best thing to do is to create a minimum viable product as fast as possible, launch it as it is, and start interacting with the market. I will say, the MVP does have to be good enough to launch, I'm not suggesting launching a broken product that might cripple your brand, but definitely do not wait until you have what you think is a perfect product to launch, because you might miss your opportunity and you might miss valuable customer feedback. We launched a good travel guitar with our first Kickstarter campaign, but those first customers helped us refine the product significantly, and the travel guitar that we have today four years later is a much better model. We wouldn't have arrived at the improved model on our own though, and had we tried and waited for years, another company might have swooped in to beat us to the market. Personally, you go through many transitions as a founder as your company grows. You fall in and out of love with your product, your willingness to pull all nighters and learn everything voraciously fluctuates over time. The biggest lesson I've learned over time is that prioritizing business growth is great, but if you burn out quickly, then long term growth will suffer. You need to make sure you take care of yourself personally so that you can remain motivated for a long time. I pulled many all-nighters in college for deadlines, but when you set the deadlines yourself, it really can pay off to avoid an all nighter, get healthy amounts of sleep, and ensure long term motivation and success. It's also ok to take a step back sometimes and think about the accomplishments you've had as an entrepreneur. Every founder has a hydra to-do list that doubles every day, and it can be overwhelming to think about everything you're not doing. Remembering how far you've come though really puts things in a positive light. What platform/tools do you use for your business?We launched our website on Wix and used that platform for the first two years of our company. We then switched to Shopify and found that it was much better for eCommerce purposes. We capture emails with MailChimp and that is our tool for email marketing. We use Sumo for on-site pop ups, and Slack for internal communication. We also use Crowd Control to integrate crowdfunding campaigns with Shopify. Those are our most important tools. What have been the most influential books, podcasts, or other resources?How to Win Friends and Influence People was a book that really struck a chord with me when I read it in college. Running a company is all about working with people, whether it's with coworkers, customers, or suppliers. Masters of Scale is a great podcast where Reid Hoffman interviews successful entrepreneurs who talk about how they scaled their businesses. In general, my favorite genre of books is biographies. I love hearing about influential historical and living figures and how their journeys unfolded. My favorite genre when I feel like I can indulge in something less practical is science-fiction. Growing up, Jules Verne was my favorite author because he allowed my imagination to run wild thinking about what exists above and below ground. Advice for other entrepreneurs who want to get started or are just starting out?Entrepreneurship is not for everyone. You can experience some of the highest highs but also some of the lowest lows. A lot of people say you need to love the product you're working on to be a successful entrepreneur, but I don't necessarily think so. I think you need to love at least one aspect of what you're doing in a start up, but not all of them. For some it's loving the product, for others it's loving growth, for others it's loving working with your coworkers. You will be thrown so many obstacles on the journey to starting a company, that is genuine passion for something related to the company is not there, then the lowest lows you'll experience will be traumatic and devastating. Adam Klosowiak (left) and Ian Klosowiak (right) outside of their manufacturing facility during the winter of 2019 I'm fortunate to say that there are so many aspects of KLOS Guitars that I love, and those keep me going. As a musician myself, I really think we're creating a product that has a unique offering that the world needs to hear about. I also love business strategy and going from concept to implementation. Throughout everything, I love that I'm working on all of this with my brother and that together we've created what we have. Are you looking to hire for certain positions right now?We are looking for someone to head up our brick and mortar expansion plan. The ideal candidate would be a guitar player who loves building and maintaining relationships, talking with people all over the world, and wants to see an amazing product in every guitar store in the world. 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]  |
| Really want to get in the business and sales world any recommendations for 5 books to start off with Posted: 05 Jul 2019 12:50 PM PDT |
| What to make of this offer? Employee pay for equity in a "Start-Up" ? Posted: 05 Jul 2019 12:46 PM PDT So I have been offered a position (pretty high level director) at a firm which is expanding to the US. They are VERY successful in their home country. The firm focuses on very innovative forms av marketing and facilitates partnerships and collaborations between various brands, profiles, etc. They will be launching in the US shortly and already have some clients and projects lined up. Before these projects were certain, I was offered 10% equity with no salary until things were there was cash flow. Now circumstances have changed. There are clients and projects lined up, and the founder will be investing 100K USD into the company in order to obtain a certain type of visa. He no longer wants to offer me the 10% since the company will now be worth at least the 100K. Instead he is offering 0% equity but with a salary from day 1. This brings my motivation down given that I was set on 10% equity and a salary within a month or two. Or, he wants me to invest 10% of the 100K (10K) for 10% of the company and receive a salary from the beginning as well. I really believe in this founder, the company, and all the potential. I want equity. I understand his changed offer, but I am also not completely comfortable with the idea of paying in order to work. On the other hand, this will make me more than an employee. I will be more driven, I have more to gain, more skin in the game, etc. This opportunity will give me exposure to stuff that most 22 year olds can only dream of as their first job out of college. I will gain access to important people at very large companies, build my network among them, and the job entails participating in high-level networking events too. Could anyone offer their two cents on this? What to make of this situation? If any additional info is needed/wanted, let me know and I'll answer ASAP. [link] [comments]  |
| Startups or any Entrepreneurs in Movie industry? Posted: 05 Jul 2019 01:49 AM PDT I like movies a lot. I just want to know if any of you are part of movie industry like an entrepreneur. Im not asking about production of movies. Apart from producing there are more things involving money so any of you have any startups relating to movies? [link] [comments]  |
| Do you need to code or very extroverted to become a successful entrepreneur? Posted: 05 Jul 2019 11:34 AM PDT Like if you can't code and you aren't a great speaker/social butterfly with great networking skills, can you still succeed in the entrepreneur world? [link] [comments]  |
| multiple small approaches vs one big approach? Posted: 05 Jul 2019 11:05 AM PDT Should entrepreneurs be constantly attacking task with small approaches that end up adding up to one big outcome? I've seen products that are just tiny incremental improvements that end up being a solid outcome. For instance there was a travel backpack that had a charger, in the laptop/electronics section of the bag, it had many multiple departments that made it easy to store, and it opened up width wise like a travel suitcase. Nothing was really that innovative individually, all of them together, and some of them interacting with each other made it a innovative and a good value prop. Should most things, even marketing or getting the product out there to as many retailers and distributors be handled in tiny small approaches? Bonus points for any examples of strategies inside the business, in the Marketing department, Production development, manufacturing, logistics and so on. [link] [comments]  |
| Someone came out with a similar product i wanted to make, should i do it anyway? Posted: 05 Jul 2019 10:31 AM PDT I was browsing amazon scouting my competition and came across one product that is design vise very similar to my idea (reason i still didn't start is due to personal issue i need to resolve first). Now the product doesn't exactly works like I'm planning to make mine but what got me is the design which I'm pretty solid on. Do you think i should create it anyway? Reading the reviews i also found few things i could improve so that's a plus. I jist dont want to feel like a rip off [link] [comments]  |
| Posted: 05 Jul 2019 10:25 AM PDT I live in sweden and we pay import tax and i believe all EU countries do so if the product is shipped outside europe. Is this true? if so i how do people dropship outside the US and what other problems do you run into as someone dropshipping from Sweden? Another question is, do you think I should make a site and ads that only targets swedish people and write in swedish that way the ads are cheap on facebook and maybe its more of an untapped market? [link] [comments]  |
| Market research: are IBIS reports reliable? Posted: 05 Jul 2019 10:05 AM PDT Sorry if I hit the wrong sub, if you know a better place to ask it I'll be glad for directions. I'm conducting research on home services market in the US and fount that IBIS has made a nice breakdown per industry, where annual revenue and number of businesses are accessible for free. But a closer look revealed somewhat strange numbers: for example, the report claims that there are 120,721 plumbing businesses which generated $110bn(!) revenues in 2018. So at this point, I'm a little lost: does it sound right that an average plumbing business generates ~$1M revenue? Can I trust the rest of the data in their reports? If no, where can I find some reliable statistics on home services market? [link] [comments]  |
| What is a good process for crafting/creating business ideas? Posted: 05 Jul 2019 09:54 AM PDT I'm trying to come up with business ideas to get more creative and am looking for processes to generate ideas/validate them, etc. how do you do segmentation and figuring out your perfect customer. Do you start with a product or do you start by focusing on a group of people to sell to? [link] [comments]  |
| Finding a Technical Co-founder Posted: 05 Jul 2019 09:43 AM PDT Looking for some advice on the best place or way to find a technical cofounder. [link] [comments]  |
| Quote : "The difference between a dream and a goal is a timeline and accountability". Posted: 05 Jul 2019 09:17 AM PDT From an interview of Dr Phil by Joe Rogan, on youtube. I'm sharing this with you because i'm more of a dreamer, so this quote hits close to home. My hope is that this quote might help someone set up clear goals and move into action. (i don't know if this content is suitable for a post. If not, i don't mind if this gets removed) [link] [comments]  |
| Best remote jobs to apply for? Posted: 05 Jul 2019 08:49 AM PDT I am looking for some remote work I can do from my own home; what are the best options? I am experienced in social media managing, digital marketing, etc.... I want something paid if possible [link] [comments]  |
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