Wantrepreneur Wednesday! - (August 07, 2019) Entrepreneur |
- Wantrepreneur Wednesday! - (August 07, 2019)
- Automation #6: How one customer automated their entire full time job
- Great video on improving your listening skills. Especially relevant for working with clients or customers. Goes through 8 Effective Listening Skills (summarised in this post)
- What is r/Entrepreneur's thoughts on The Founder? (The story of Ray Krock who essentially took the McDonalds concept at a global scale)
- $35k/mo cleaning houses (Former Tech Employee)
- I'm looking to sell a fun social networking platform I built.. How should I go about this?
- Good and bad llc names
- Young Student Entrepreneur
- The same question about payments processing.
- Let's see what helps others to earn more money
- Does Brexit, USA-China Trade War impact you right now?
- The truth no guru will ever tell you about making money in the video game niche, especially on Instagram:
- Instagram is a pain.
- NEW MARKETPLACE/Gallery FOR LOCAL/SMALLER BRANDS! - Please read, no bs here
- Where to sell an almost fully-automated business for less than 100k?
- I have an idea everyone loves but no one wants to buy. Help!
- The best book I've ever read on bringing new products to market:
- What's been your experience with Mastermind groups?
- Best Registered Agent in Delaware
- Is there a website or app where brands can review influencers?
- I want to make a local website like fiverr and upwork, will this be profitable?
- Looking for a Mentor Interested In My Project
- Digital marketer on Instagram
- Your aspiration for business.
- Website Design criticism.
| Wantrepreneur Wednesday! - (August 07, 2019) Posted: 07 Aug 2019 06:14 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]  |
| Automation #6: How one customer automated their entire full time job Posted: 07 Aug 2019 06:31 AM PDT A while back i made my first post on automation ( If you're not using automation you're wasting your time and money) and got a fantastic response (And, full disclosure, a few leads too). Today I'd like to talk more about three short examples that are some of my favorite projects. Disclosure: I own three small businesses and also work as a freelance automation developer. Both of my businesses are highly automated and I've helped over 30 clients save more than a combined 100+ hours every day. If you'd like to read some of my previous posts, please check them out here:
In India, there's a unique concept of something called a 'mandi'. The basic idea is that come Harvest time, farmers in India drive their produce down to a special & regulated market called the mandi where they negotiate and sell their produce to one of many wholesalers located there. There are no central bodies/electronic systems to track trades. Retailers will then buy produce from these wholesalers. I had a client who built and sold access to spreadsheets containing the price of goods being sold by wholesalers. Essentially, most wholesalers have WhatsApp groups where they periodically send updates as to what price they're willing to sell tomatoes, cucumbers etc for. The client's entire day job was to keep an eye out on all these groups and maintain a spreadsheet of the price each wholesaler is willing to sell for each produce item. The automationReading/writing/updating spreadsheets is a piece of cake for automation software. Reading WhatsApp messages is not. Among other things, most wholesalers had different formats. One might send "tomatoes 20 potatoes 40", a typo might say "tomatoes20potatoes 40" and so on. Owing to this, i had to go through a long, long text history from each of the wholesalers and write a lot of code to pattern match the right answer. Still, it was only able to read roughly 99% of the texts, which was good enough for the client. The script essentially ran in the cloud, the client only had to use their phone to log into web.whatsapp.com every day. After that, they're free to go about their entire day, making sales, running another side hustle or just relaxing. The data was being updated automatically. Total cost? Roughly $1600. Most of the cost went to the pattern matching. Lessons learnedWith only $1600, a business owner was able to completely free up as much as 8 hours of their time, every day. It went from a high effort business to a money printing machine, with the only effort needed on their end to focus on sales and getting more customers. Automation opportunities are everywhere. Even if you value your time at just $10 an hour, there's 2080 work hours in a year, a saving of almost $20800. So take out five minutes of your time, think about cyber chores in your business. Things that are done entirely on a computer and consider automating them. As always, i hope this post gave you a unique perspective on the power of automation and just how diverse, powerful and necessary automation is! If you have any questions, please feel free to comment. I'm a bit strained for time but i always try to answer as many as i can! Also if you'd like to work with me on a project or if you have an idea and are not sure if it can be automated please drop me a message and we can discuss business! [link] [comments]  |
| Posted: 07 Aug 2019 02:37 AM PDT Some really decent advice in this video. Very relevant for entrepreneurs. I found the guys video through a share on LinkedIn and thought I'd share it here with the community. Here is a basic overview of the 8 Effective Listening Skills they go into in the video. 1) Listen without an agenda: Basically meaning that you actually just listen to the person wholeheartedly and without looking to "get something" from them. Instead, focus all of your attention on the person. The video goes into in a lot more detail. 2) Be interested rather than interesting: Keeping your focus on the person and being genuinely interested in what they have to say. When they say something don't try and one-up it or use it as a chance to talk about yourself. Stay focused on them. 3) Don't interrupt: Don't interrupt the person while they are speaking to interject with your own idea. Always let them finish their sentence before replying. Also don't use attention words "ahhh", "yep" "ohh" "Mmm". Although you may think you're doing it to show that you're listening. It really comes off as you're just waiting for a chance speak. Almost like a verbal nudge. Instead, don't use any sounds and just allow silence. 4) Don't finish their sentences: Don't finish people's sentences for them or try to guess what they are trying to say. It comes off as rude and annoying. Instead, just listen and allow them to formulate their own sentences. 5) Pause before replying Instead of instantly replying after the person finishes speaking pause for 2 -3 seconds before making a response. This will show that you're truly listening, allow you to understand what they said and formulate a response and also prevent you from interrupting them. 6) Clarify: 7) Paraphrase in your own words Paraphrasing back what the person has said will show that you're truly listening. 8) Acknowledge When the person shares something that's worth acknowledging I.e maybe they express a win, a pain or open up about something. Always acknowledge it by saying something like "Thank you for sharing that" or " I acknowledge you for sharing that." It will show that you're listening. And make the person feel heard. Ok so that's a brief little overview. From my take on it. I'd recommend watching the full video if want to know more: Hope you guys find it as valuable as I did :) [link] [comments]  |
| Posted: 07 Aug 2019 08:34 AM PDT Have you seen the film? What were your thoughts? Link for the lazy if you haven't seen it - can be watched for free Yes this is a legal link, just has ads. Anyways back to the story. Ray Krock was a failing milkshake mixer sales man traveling California when he discovered the McDonalds fast food concept and how effective and efficiently they ran their operation, with a simple menu, and production line in the kitchen. He asked to be given the ability to franchise the model and bring on other franchisees, which the original founders were hesitant about. Once approved, he begins to get other investors to franchise the McDonalds model but continually runs into issue after issue with the locations and the profits of only like 5% don't end up being a massive revenue generator for Ray. The mind blowing part in the film is when Ray is talking with a banker, and the banker explains "McDonald's shouldn't be a fast food company....it should be a real estate company." Essentially, McDonald's could buy lots of land in prime locations, and instead of just making 5% of profits on the food, would charge the new franchise owners a rent fee for using the land and property. Its not long before Ray essentially starts his own new McDonalds corporation (without the original founders) and well, I'll let you guess the rest.... What did you think of the film and what lessons did you take away from it? [link] [comments]  |
| $35k/mo cleaning houses (Former Tech Employee) Posted: 07 Aug 2019 01:36 PM PDT Hey everyone, I started my business around March 2018, since day 1 my wife and I decided to make a business out of this, this wasn't just us "cleaning houses". My background was in technology (I worked 10 years as a Network/Computer Engineer and 5 years as a Software Developer) and what really helped me was putting systems in place, even before we had our first client we decided to have the software in place to handle thousands of clients if needed. Every decision we took was based on "Can we scale this system?". In 2018 we ended up making $150k. We are now in our second year and we will be making $400k+ by the end of 2019. We learned a lot during this time: Systems: This is the secret sauce, we created systems for every single action in the business, for example: now every time we hire a new employee we have a system in place to train that employee and making sure that employee follows the system. Culture: Having happy employees is not about money, is about creating culture and a great place for them to work, we are a team, we are all employees. Clients: You need to make sure you know what business you are on. We don't sell cleaning, we sell peace of mind. We are now in commercial cleaning as well, this has opened a new revenue stream that could take us over the top. I found a passion in helping other business owners get to a comfortable level of success. I really enjoy being a business owner and I'm currently thinking about other business opportunities. [link] [comments]  |
| I'm looking to sell a fun social networking platform I built.. How should I go about this? Posted: 07 Aug 2019 06:13 AM PDT I started building this social network as a side project over a year ago. It has a really great foundation and could be very valuable to the right person/company. The reason I want to sell it is because I'm a one man team with this project and I've recently joined my friend's startup where we raised at a $6m valuation and I just don't have time anymore to focus on it. I focused on a specific niche for the social network where it's gained over 10K users with no marketing, about 500 users return on a daily active user basis, which is pretty good. The beautiful thing about the social network is that it can be applied to any niche. There are some huge companies that have gained success with this model (i.e having multiple of the same app just targeting different niches) The app is currently available on iOS and Android with 4.7/5 rating and over 450 reviews. It's really in a prime position to succeed. How would I go about finding the right buyer for this technology/app? I'm certain this could be very valuable to the right people. [link] [comments]  |
| Posted: 07 Aug 2019 08:40 AM PDT Hi guys, I'll soon be forming an LLC in delaware and I have a few questions about the name to choose. I currently have an e-commerce website and I am planning to have a second one in a year or so. So it doesn't make sense for me to name the LLC after the first ecommerce. Can I set a general name in case one of my e-commerces doesn't work and I pivot to a different niche? what would you recommend? [link] [comments]  |
| Posted: 07 Aug 2019 12:44 PM PDT Hello everyone, I'm an 18 year old who has fallen in love with being an entrepreneur from a really young age and I'm about to go to college, can I have some advice on what I can do to make some money on the side, while attending college? [link] [comments]  |
| The same question about payments processing. Posted: 07 Aug 2019 08:22 AM PDT Hi everyone, I live in Morocco and I wanted just to ask what shoud I use ? Stripe(non available), paypal, square(I don't know if it's available or not) or if something better exists to accept payments from anywhere ? [link] [comments]  |
| Let's see what helps others to earn more money Posted: 07 Aug 2019 12:03 PM PDT Hi, I've just created a short 1-minute Google Forms survey to gather some stats on what you should use to earn more money with your business. You'll see the responses from others right after you have completed it https://forms.gle/T5T6LxCv9WrPXYQg9 Please take a moment to fill it out and upvote this post if you want to see more answers from other businesses. Thank you in advance! I hope it'll help everybody to make the right decision on a particular growth path. [link] [comments]  |
| Does Brexit, USA-China Trade War impact you right now? Posted: 07 Aug 2019 07:38 AM PDT And if so, what are you doing against it. Or are you even benefiting from it? [link] [comments]  |
| Posted: 07 Aug 2019 07:17 AM PDT I hate to be the bearer of bad news, but unless you are very good at a particular game(s), or maybe an attractive female, making any money whatsoever off video gaming related content, especially on Instagram isn't very probable. [link] [comments]  |
| Posted: 07 Aug 2019 10:41 AM PDT Does anyone have a way to organically grow on Instagram without buying, using engagement groups, etc.? Already hash-tagging and interacting with the community. Seems impossible to compete with people who just trash the whole Instagram community by bying comments and followers and whatnot. [link] [comments]  |
| NEW MARKETPLACE/Gallery FOR LOCAL/SMALLER BRANDS! - Please read, no bs here Posted: 07 Aug 2019 02:17 PM PDT Hi Everyone, I am starting/started a marketplace called "Hidden In The Hype" which will showcase local brands (not local to me but their town/city) on our website, Instagram, email blast, art walk booths (option to send samples to sell) and more. TRANSPARENCY is key with me. I will not be taking any profit from your sales on our website but their will be a low monthly fee to be on the website, Instagram, etc. ***the current price for all of these services is low as we are just beginning and will increase as the gallery gets bigger. I come from a background in the fashion industry and have managed over 5000 accounts for a high end luxury wear/leisure wear brand. This is something I have wanted to start for a while and now have the financial background to do so. IF YOU ARE SERIOUSLY INTERESTED FOR MORE INFORMATION - email me at: [Hiddeninthehype1992@gmail.com](mailto:Hiddeninthehype1992@gmail.com) or PM me. Current website has one brand so far: Hiddeninthehype.com [link] [comments]  |
| Where to sell an almost fully-automated business for less than 100k? Posted: 07 Aug 2019 02:06 PM PDT Hey everyone, So I started a book printing business almost two years that I'd now like to sell to be able to use the funds in a new venture. The business is certainly growing and here are some quick stats:
So I think those are most of the important aspects of the business. So with all of that in mind, where best would I go to sell something like this? Thanks for the help, I appreciate it! [link] [comments]  |
| I have an idea everyone loves but no one wants to buy. Help! Posted: 07 Aug 2019 01:31 PM PDT I've just started my first company, so I'm brand new at this. My idea is to implement customized training programs for new hires and interns for companies. This would teach them how to do day-to-day activities and relieve stress from all levels. However, it does require that I come in and learn the process during their on boarding phase so that I can create the training program... something that seems to be a pain point but I'm not sure how to work around. When I talk to friends, employees, and even business owners, they all love the idea, however I haven't had a single email or interest from the ~10 business owners and ~40 people I've talked to. Any suggestions? [link] [comments]  |
| The best book I've ever read on bringing new products to market: Posted: 07 Aug 2019 08:43 AM PDT Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea into a Reality by Lori Greiner is by far one of the absolute best entrepreneurial related books I have ever read, especially as it pertains to self-made individual products. If you are planning on bringing a brand new concept to life, and want to know what you should and shouldn't do as far as the patent and creation process is concerned, this is definitely the right book for you! Although it is an older book, the great majority of all the content within it still holds up today, with the exception being the social media best practices chapter... that chapter can definitely use some updating. If you can't afford the book, simply do what I do, and borrow it from the public library in your town. A little known life-hack that goes unknown to so many is the fact that you can practically request any book ever made at your local library. I read about 3 books on average a month, and 90% of them come from the library. I do try my best to support authors out there as often as I can because I love books, but books are very expensive as I'm sure you all know. If you can't spare the change, just borrow and learn my fellow entrepreneurs! [link] [comments]  |
| What's been your experience with Mastermind groups? Posted: 07 Aug 2019 12:07 PM PDT Wanted to ask if anybody here has experience with creating and running their own mastermind groups?
Are you now or have you ever been a part of one? What benefit did you get out of it if any? [link] [comments]  |
| Best Registered Agent in Delaware Posted: 07 Aug 2019 12:02 PM PDT I am looking to open an LLC in Delaware and I saw a lot of old posts from years ago, but was wondering if anyone is currently using a Registered Agent that they would recommend? I know that Legal Inc., Biz Filings, and Legal Zoom are available and the first website that comes up on google for Delaware registered agents is one with a $180 initial fee and then $49 annual fee after, but just wanted to know if anyone has other recommendations? [link] [comments]  |
| Is there a website or app where brands can review influencers? Posted: 07 Aug 2019 11:22 AM PDT After working with about 5 influencers, i have greatly varying conclusions about working with them as well as individual experiences. Would love to know where I can review these people. [link] [comments]  |
| I want to make a local website like fiverr and upwork, will this be profitable? Posted: 07 Aug 2019 11:14 AM PDT As the title says, I'm thinking of building a website and app with the premise of it being a local marketplace for freelance digital services. I already have experience in building websites, graphic design and have a bachelor in marketing and publicity so the plan is to spend the least amount of money on building it by doing most of what I can by myself but I'm worried if this business model (taking commissions from every transaction made on the site) is profitable. For a little bit of background, I live in a small third world latin country where the unemployment rate is getting bigger and people are trying to find more job opportunities while at the same time the other "side" of the country consist of people who have a lot of money. I thought this could be a good oportunity to build a marketplace of sorts and encourage people to use it as a means to get an income since it's getting harder than ever to get a contract at a company. I saw fiverr has been losing money actually but I'm wondering if this is because of them not knowing how to profit from their website (like them having offices in three different countries and also them buying other companies like VeedMe and ClearVoice) or if it is because the business model is simply not a good one. [link] [comments]  |
| Looking for a Mentor Interested In My Project Posted: 07 Aug 2019 11:04 AM PDT Hi, I am Ethan, a high school student without experience in business. I am looking for someone who believes in my idea, and wants to help mentor me along. Here is some background and a little pitch on my business My goal in life as dumb as it sounds is to be rich. My whole life I have been trading items in video games, or selling candy to people just to make quick money but recently I realized that I wanted a change. I want to benefit the people around me and make real money. This is my first real business. I call it Gamepeach. The business is high schools video game leagues, and video game tournaments for students. We would make money by charging schools to be in the leagues, and small tournament entry fees. We will also work with other companies with sponsorships. I had this idea because I have always played a little too many video games so I was better than my friends. We would play in tournaments and against each other. I loved this because it's so fun and competitive. But as I got older video games started getting looked down on and schools still did not have teams. This would cause students to end up alone at home playing video games which is unhealthy and just a bad cycle. Companies are starting to become more prevalent with Esports but we will be different because we are going to focus on student scholarships and we will be doing lots of projects with the Chicago School System. Specifically schools that need the funding, or that are struggling. I want to do this because I want to leave an impact, and some kids in poor neighborhoods just aren't given the same chance I was. It's also good for marketing, and makes the company more unique. So far our company has ran test tournaments where 60 students have paid, and competed against each other. We have created shirts, logos, and a brand identity. We also have an NBA player who is very interested in the project and is going to be an ambassador for the brand which is something I am very excited for. The future is very bright. The next steps and goals for the company are setting up a website, creating a full league, and continuing to run tournaments. This will help raise money, and just push our business on to the next steps. If you are interested message me. - Ethan Edit: I sounded like a dick. Fixed [link] [comments]  |
| Posted: 07 Aug 2019 10:58 AM PDT Hello everyone, Today I will explain my business and ask for tips on how to expand and make more money. I have been doing Instagram for around a year, I had have a total follower count of around 15k. People always say you have to have like 50k to make a good amount of money on Instagram but I just think that is ridiculous. What I would do is I would reach out to music artist and ask if they'd try promotions on their music. I would then send them my pitch and go from there. I made around $700 a week from this until my account was hacked and the guy wanted to much money for my account back. Now, I work with a team growing my new Instagram which is soccer theme. I would also do consulting calls for people on how to grow on Instagram and I changed $50 for a 30 minute call. This is where my real money maker was. I gave such good i formation that word got around and I ended up with over 15k sales in one whole month of doing consulting calls teaching people how to grow. (Mind you I was averaging 4.5k followers a month with a 3k average likes and 60% engagement rate). So I was just wondering how would I go about just giving consultation calls instead of making a whole new page now that my old Instagram is hacked? Website? I have no clue. [link] [comments]  |
| Posted: 07 Aug 2019 10:54 AM PDT Hello, Do you ever find yourself hungry for success with no where to focus that energy. Well I do too. I work 60+ hours a week (full time at an airline, and have 3-4 side hustles). I own a 50% stake in an amazon business that I own and operate with my father. We do decent, and I make almost enough to live the way I have been. I listen to Gary Vee, watch youtube videos on business and finances and keep a journal full of business and product idea. I'm hungry for success... especially success that I create by myself. I've started a shopify website and had no success and gave up (it hurt). Does anyone else feel like their one idea away from being rich and fulfilled? I haven't found my passion yet, and I'm 25 years old. How do I find MY thing. The thing I want to spend 80 hours a week on... I'm just throwing this out into the universe. Help me find my thing. [link] [comments]  |
| Posted: 07 Aug 2019 10:49 AM PDT Hi all, currently I own a website that mails dildos in the mail anonymously as a prank. (Doing about 3200 in profit per month). I created the website, SEO, everything myself and am definitely not a expert. I would love for any critiques on my website, basically a Roast me of my website =]. www.dickinthemail.com landing page is SFW. [link] [comments]  |
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