What would you do if your business failed, then your friend made a better version of it? Entrepreneur |
- What would you do if your business failed, then your friend made a better version of it?
- The truth about drop shipping your life coach won't tell you:
- What are Good businesses to start during a recession? And why do you think they will thrive/be profitable?
- Why do people say ideas are worthless?
- Anybody that owns a F45 training gym, would you recommend buying? Was it a good investment for you?
- How would you feel if your friend tried to copy your idea without telling you?
- Query about selling Handmade items on eBay for profit?
- [Product testing] Gas chromatography–mass spectrometry
- Hurricane kits for new homebuyers
- Do you find it difficult to stay healthy as an entrepreneur?
- What's your thoughts on this concept?
- How do people get better at shooting games?
- What aspects would make a health/wellness consultant valuable to an entrepreneur?
- What to give back when I make it.
- Not sure if here, but have a question for opening an online store
- $1,000/month selling washable paper wallets from rural Japan.
- Litte business as a teen
- Constructive feedback please!
- How to Increase Shopify SEO - Tips & Tricks to get more Organic Traffic
- Anyone own a retail store?!
- Small businesses being sold at 30%+ annual return?
- The book “Drive” by Daniel H. Pink
| What would you do if your business failed, then your friend made a better version of it? Posted: 31 Aug 2019 04:01 AM PDT Let's say you started a business, but it failed miserably and now you are paying off debt, your friend saw all the issues, fixed them and created a better version of your business and made it profitable. (makes 7K a month now ) how would you feel about this? [link] [comments]  |
| The truth about drop shipping your life coach won't tell you: Posted: 31 Aug 2019 08:48 AM PDT Life Coach: Timmy, we need to find you the perfect product to sell. I know you just spent $4,000 on my one on one personal drop-shipping course, and you don't have a lot of money left, so let's look for something cheap. Timmy: Cool beans Todd, ahh, I mean coach! I can't wait to get started, where should I look? Life Coach (Todd): You need to start an account on Alibaba, there you'll find the best Chinese shit, for the cheapest prices... the shipping will be ridiculously expensive but we'll cross that bridge when we get there. Timmy: Cool coach, I just started an account, and I think I found the best product that no one else is selling "yet" just like you taught me, and I just put the order in. They told me it should be here within 2 to 3 months, and that I would have to go pick it up at the docks myself. Life Coach: Good job Timmy, and let me know how it turns out for you? Timmy: Okay coach, I will, and thanks for all your help, your course was definitely worth the $4,000 I spent, and I can't wait to start making tons of money. What Timmy was not told:
There's no easy pathway to success folks, no matter how much money your throw at some guru on YouTube, or how much money you give your Tesla driving, tracksuit wearing life coach, hard-work is always going to be needed in the equation of success... unless of course you are a trust fund baby, or a bonafide (<--- get it?) trophy wife. Edit: More of a rant on private labeling than drop-shipping, but you get the idea! [link] [comments]  |
| Posted: 31 Aug 2019 07:31 AM PDT |
| Why do people say ideas are worthless? Posted: 31 Aug 2019 01:13 PM PDT I always thought the idea for a business was one of the most important things that'll make a business successful. All you need is a good idea, good luck, and you are set for success. But after working on my business Green, I realized that you need much more than a good idea to be successful. To top that off, I saw ideas that I thought were stupid and would never be successful end up making millions of dollars. I didn't understand how ideas like the Pet Rock, or pay to test to see if your partner would cheat ended up making millions of dollars and getting so much popularity. Made me think well, maybe I should come up with some stupid or simple business ideas and see what happens. [link] [comments]  |
| Anybody that owns a F45 training gym, would you recommend buying? Was it a good investment for you? Posted: 31 Aug 2019 12:56 PM PDT Been looking at opening a F45 training franchise in the city. Would be nice to talk with someone that has bought one and was successful, or not successful! [link] [comments]  |
| How would you feel if your friend tried to copy your idea without telling you? Posted: 31 Aug 2019 10:38 AM PDT I'm a software engineer and he isn't. I'm actually not really bothered by this situation but rethinking it, I'm wondering if it was a bad move by my friend. I had an idea for a startup and i of course tell my friends, I pivoted to something else later on so it didn't really matter. But while i was working towards this start up, I find out later on that he tried to copy me and start the same business and I didn't know about it until a year later. He didn't have the tech skills so it didn't get very far. I'm wondering though if him not telling me or maybe even offering to work together, if that was in bad taste by my friend? How would you feel? [link] [comments]  |
| Query about selling Handmade items on eBay for profit? Posted: 31 Aug 2019 10:33 AM PDT Hello. I started selling some handmade items on eBay (for less than £5 each, with a profit each of less than £2) 2 and a half years ago, alongside working a part-time job. I have earned a maximum of £1000 per year from ebay and my earnings combined from work are below the tax threshold for that year, therefore I haven't reached out to declare those earnings. I was wondering if I still needed to declare these earnings to them? I haven't officially worked out how much I'm spending or earning, but I know I am making a profit. I have also been selling under a standard eBay account (not business) and a standard PayPal. I was worried about upgrading to a business because it would mean displaying your address publicly, and because I live with parents I am worried about putting them at risk if something goes wrong. I need to figure out a way of managing my money which is why I was considering getting a PayPal business account for sales alone; I was going to open up another account with my bank primarily for this income. I was just wondering what a PayPal business account involves and also, could I have a business PayPal without becoming an eBay business seller? Could I have just these eBay sales going into my new PayPal business account when I sell, but when I buy something it would come out of my standard PayPal? Thanks in advance. [link] [comments]  |
| [Product testing] Gas chromatography–mass spectrometry Posted: 31 Aug 2019 02:04 PM PDT Does anyone us a lab for Gas chromatography–mass spectrometry testing of their products? I was going to order bulk supplements from Alibaba but want to make sure its pure? [link] [comments]  |
| Hurricane kits for new homebuyers Posted: 31 Aug 2019 01:52 PM PDT What do you think of starting hurricane preparedness business that uses door to door sales and direct mail that targets new homebuyers in places like Florida and the Gulf states? Products would include hurricane kits, generators, safety equipment, and any other items related to weathering a storm. I lived throughout the Gulf and have never seen a salesman advertising this. Most people are not prepared so this service could force them to act in advance. My relatives in Florida are saying the stores are empty. I think this could be an excellent weekend side gig until it picks up speed. [link] [comments]  |
| Do you find it difficult to stay healthy as an entrepreneur? Posted: 31 Aug 2019 09:17 AM PDT Im an entrepreneur and feel like ive been adopting unhealthy habits lately. I work so much that it seems i dont have enough time in the day to properly feed myself.. ill end up stopping at a fast food spot. I find myself skipping the gym.. etc. Ive been toying with the idea of hiring someone along the lines of a nutritionist to help me stay healthy... Does any one else feel the same struggle? Or should i just be working less and putting more time into myself?? [link] [comments]  |
| What's your thoughts on this concept? Posted: 31 Aug 2019 12:18 PM PDT Hi, I was thinking of making an online store platform that allows customer view products from their subscribed stores. However, before building the product, I would like some thoughts on the idea? [link] [comments]  |
| How do people get better at shooting games? Posted: 31 Aug 2019 11:39 AM PDT I've been playing shooting games since I was a kid, starting with 007 Goldeneye. I've played various shooting games online with other people (Battlefield, Call of Duty, Halo). For some reason, my kill/death ratio has always been around .70, no matter how much I play. Many people have 1.0 or more K/D and I don't understand how they've gotten so good. Any answer is appreciated [link] [comments]  |
| What aspects would make a health/wellness consultant valuable to an entrepreneur? Posted: 31 Aug 2019 11:27 AM PDT Meal plans? Work out plans? Texting you daily to check up on you? How to meditate? What would provide value to you that you would be willing to pay for? [link] [comments]  |
| What to give back when I make it. Posted: 31 Aug 2019 11:06 AM PDT Sorry for already foreseeing the future but I have a some would say basic or stupid questions. But when I access a relatively easy life what should I give to people that never turned up on me that always helped me out through bad people on general I could count on even though I don't pay them. Not talking about partners or associate whatever. I'm talking about my parents, my brother, my girlfriend, some of my friends etc. [link] [comments]  |
| Not sure if here, but have a question for opening an online store Posted: 31 Aug 2019 11:01 AM PDT I'm looking at opening an online sex toy business. I came across myfreesexstore.com. I guess it's a site that helps create an adult online store, it handles inventory, customer service, hosting, etc. I looked it up and down. It's owned by a guy in Michigan? I don't know, is it this easy? I been planning for months, slowly building my website and my model, but something like this seems too easy. [link] [comments]  |
| $1,000/month selling washable paper wallets from rural Japan. Posted: 31 Aug 2019 10:58 AM PDT Hey - Pat from StarterStory.com here with another interview. Today's interview is with Kan Yamamoto of Kamino Wallet, a brand that sells minimalist paper wallets. Some stats:
Hello! Who are you and what business did you start?Hi, my name is Kan Yamamoto, and I am the designer of Kamino Wallet. Under this brand, I make minimalist, eco-friendly paper wallets out of washable paper. Washable paper is a kind of material you would find as those labels on the back of your jeans. It is highly durable and even machine washable, which makes it an ideal alternative to leather while maintaining the paper-thin profile. My wallets help you lighten the load on your pocket and the environment, by getting rid of the bulge and the cruelty of the conventional leather wallets. The wrap wallet is my best selling product, and it is the best example of how my products stand out in terms of the design. I apply the art of Origami - the traditional Japanese paper folding technique, to bring the full potential out of the material and make the most minimal wallet ever with maximum utility. I started this project as my side hustle, and since I opened my shop in June 2018, it has grown slowly. Though it is still a tiny business, I enjoy creating useful tools that are loved by many users around the globe. What's your backstory and how did you come up with the idea?I am a self-employed graphic designer who also works as a woodworker/lumberjack. I was born and grew up in Kochi, Japan but moved to Europe and have spent my twenties in Switzerland and Berlin, where I practiced graphic design and the fine arts. After I graduated from the University of Art Berlin in 2011, I returned to Japan to dig deep into my cultural roots and to contribute to the local community. Now I am living in a mountainous village in a suburban area of the city of Kochi. I love living near to nature, and the quality of life here is irreplaceable, but one of the biggest problems in rural areas is that there are no jobs. So I thought the best thing would be to learn how to create small businesses myself. And by doing it, I could be an example for the younger generation to show that it doesn't matter where you live. You could build a global business, however small it is. With my background in art and design, I am a maker by nature, so I naturally looked for ideas for products that I can make myself by hand without much investment. A wallet was my first choice because I genuinely needed it as a consumer but couldn't find the right one that is slim, functional, and eco-friendly on the market. My workshop in the village of Tosayama, Kochi, Japan Take us through the process of designing, prototyping, and manufacturing your first product.I started designing wallets by prototyping with paper, looking for which form and style work best. I wanted it as minimal as possible, in its appearance as well as in environmental impact. After trying various materials, paper, which I always had considered the material for prototypes, turned out to be the best solution for me. It also helped that I had some knowledge and experience with various kinds of papers as a graphic designer. Soon after I finished the design of the first version, I wanted to see if there is a demand at all. So I quickly made a simple landing page to release the design as a free DIY template. And I asked visitors if they would be interested in the production version which will be made out of more durable material. I shared it on Twitter, Reddit, Medium, Instructables, etc., and to my surprise, I immediately got hundreds of downloads. I could build a mailing list of about two hundred in a few months. Some people contacted me to give me their feedback on the usability of the design, and I kept refining the design based on that feedback. One of the first prototypes made out of used Rhodia cover. Describe the process of launching the business.After I realized it could be a business by seeing the demand for the DIY version, I started to prepare for the launch. Finding the right kind of paper that is durable enough for daily use was hard, and in fact, I am still looking for the perfect material. But I eventually found a durable synthetic paper that is good enough for the first product, ordered it in bulk, and started making the actual products. At the time of the launch, I had managed to have a mailing list of about 200 subscribers. Looking back, it is not that big at all, but I think that is enough for a start and assumed that a large number of them would place orders. But I was wrong, dead wrong. I learned a hard lesson that subscribing to a mailing list and paying for a product is a different thing. In the end, only a few out of the list ended up buying my product. I had zero knowledge of e-commerce at the beginning. But I have slowly learned many things by doing it, such as how to build a brand, website copywriting, and the way to optimize my site for conversions. Then I slowly started to gain customers from all around the world, and the designs have also evolved. Since launch, what has worked to attract and retain customers?What I care about the most is the personal connection with my customers. I always enclose handwritten thank you notes in the packages and respond to questions or feedback as openly as possible. One of my customers once wrote to me "It's great that you are so committed to customer service. These days it's not normal anymore to get this kind of swift, effective and personal service." I also include one or two cards/bookmarks with a discount code printed that are made out of the same material as my wallets to encourage word of mouth. It would make it easier to refer a friend by simply giving a card so that they can touch and feel it. After all, the digitized world we live in is sometimes rough and noisy, so this personal touch is what makes a difference in the long run. I believe being able to offer this kind of service is one of the strengths of being a small maker. And it certainly helps to build trust and retain my customers. Thank you card that doubles as a bookmark. How are you doing today and what does the future look like?Currently, it makes around $1,000 in sales, of which about $600 is profit. So it is not a typical success story you usually see here. At least it is profitable as my side hustle, and I love doing it. I get about 60-100 visits a day mainly through organic search, Instagram, and Reddit. And my current conversion rate is around 1%, which would explain why it has been slow in sales. I tried google ads for a while but couldn't figure out how to make it work effectively, so I stopped it for now. While I would like to keep the business rather small, it could expand a bit more so acquiring new customers is the biggest struggle at the moment. Regarding the cost and the profit, I try to keep the gross margins before ad-spend around 35-40% for every product. The cost of labor is also around 40%, which I am taking for now, but I would hire someone with it for making my products if it eventually scales in the future. Based on the feedback from my customers, I have been designing new products, including notebook wallet and coin pouch. Also, I am talking with a manufacturer who produces even more eco-friendly material that has more color variations so the products line up will undoubtedly keep growing. It may sound optimistic, but I believe my business has the potential to turn into my full-time business eventually, or even beyond that. It seems more and more people are interested in a simple, eco-friendly lifestyle, and my products would appeal to those audiences once I tuned in the right channels. Through starting the business, have you learned anything particularly helpful or advantageous?What surprised me the most is that many people on the internet do like to give feedback when I ask them to or when they genuinely love my idea/products. I think I made the right decision to release the DIY version as soon as possible to get feedback and brushed it up. It is still relevant now, and listening to my customers is one of the best tactics I have learned when it comes to product development and marketing. Another thing I am impressed by and thankful about and is how effectively the global postal network works. As I am based in a remote area, the logistics could have been a pain, but in reality, it works like a charm. I can send my products out from a small post office in my village. Usually, within 10-14 days, they will arrive in North America and Europe, where most of my customers are. By the effort of making my products and the packages as slim and lightweight as possible, I could reduce the shipping cost and ultimately afford to offer free shipping worldwide on all orders. What platform/tools do you use for your business?On Reddit, I have learned everything about starting a business, from how to make a landing page to getting feedback on my designs. I used Squarespace to quickly launch the first landing page to publish the DIY version, and then I moved to Shopify lately. And obviously, Grammarly is a must for me as a non-English speaker. It is not about this particular business, but I can't work without Soundcloud, so let me say thank you to them. What have been the most influential books, podcasts, or other resources?Design for the Real World by Victor Papanek I always come back to this book whenever I want to make sure if I'm on the right track as a designer/maker. Let me quote one of my favorite lines. "Design, if it is to be ecologically responsible and socially responsive, must be revolutionary and radical in the truest sense. It must dedicate itself to nature's principle of least effort, in other words, maximum diversity with minimum inventory or doing the most with the least. That means consuming less, using things longer, and being frugal about recycling materials." Advice for other entrepreneurs who want to get started or are just starting out?All the above being said, I guess I am nowhere near the position to tell anyone how to start/run business. All I can say is that you need to take time to grow the business, so take it easy and don't give it up too soon. 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]  |
| Posted: 31 Aug 2019 10:40 AM PDT I'm a teen and want to figure out a way to test out making business ideas. What are little business's you can start such as reselling shoes? [link] [comments]  |
| Posted: 31 Aug 2019 10:28 AM PDT Hello everyone- I'm starting my own small business as a coach/consultant for young entrepreneurs and professionals . I'm basically helping men who have found a degree of success in their entrepreneurial or professional endeavors, but have struggled to meet, connect with and date women with whom they have a genuine connection with. But before getting serious about it, I'd like to find one or two more test clients to really perfect my method. I won't be asking for anything but constructive feedback or recommendations. If you're interested comment below! [link] [comments]  |
| How to Increase Shopify SEO - Tips & Tricks to get more Organic Traffic Posted: 31 Aug 2019 10:13 AM PDT Improving your Shopify Stores SEO can be an easy way to get organic traffic. In this video, I go over the tips & tricks to get your product pages to rank on google, and ultimately get sales for free. Follow along to find the exact places I edit to get my products to rank on google. [link] [comments]  |
| Posted: 31 Aug 2019 09:51 AM PDT I'm developing some software which requires extracting retail data from POS systems...anyone own a retail store or grocery store that can tell me the process for extracting Retail data from their current POS system? Given the POS you're using, what is the process? Anyone use Square?! As a retailer are you leveraging the retail data in any decision making?! [link] [comments]  |
| Small businesses being sold at 30%+ annual return? Posted: 31 Aug 2019 01:05 AM PDT I'm not a small business guy, so I'm very confused looking at the some of the listings on bizben and bizbuysell. For example, an absentee owner business (hair salon with no employees but hair stylists that pay you rent to use a station) cash flowing at $250k/yr is listed for $495k and another absentee owner business (sandwich shop) cash flowing at $70k is listed at $195k. Why are they selling at such low multiples? [link] [comments]  |
| The book “Drive” by Daniel H. Pink Posted: 31 Aug 2019 09:14 AM PDT First let me admit I haven't finished it, I'm about half way through and I've had it just 3 days. But.. The information is super exciting and motivating. It's definitely not for every type of business but there must be ways to incorporate the managing styles in there into most businesses. People who have read the book, did you incorporate these managing styles into your business? And if so how did that work out? My first step to trying to be this new "Motivation 3.0" was hiring an outside sales rep that will be in control of their time, technique and team (just them so far). [link] [comments]  |
| You are subscribed to email updates from Entrepreneur. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment