A little piece of advice I read a few days ago Entrepreneur |
- A little piece of advice I read a few days ago
- 10 Most Successful Habits of a Venture Capitalist Turned Entrepreneur
- Challenge. How would you replay your life?
- IT Consulting Company
- Started writing down my ideas and useful notes & comments from this sub.
- Was laid off, got a job and ready to start my own company, advice please?
- What are the highest earning stocks etfs or bonds etc, to invest in that have low risk
- Configuring a dual newsletter for a bilingual site
- Plastic injection molding protecting & developing - few questions
- How to make a Business Portfolio Plan for an Automotive company?
- Lucrative Service Businesses?
- $200,000/month with a software that automates startups legals [former Head of BBC's iPlayer]
- [Idea validation] Web platform for creating "markets" (like subreddits) for niche digital economies
- Buying PS4's from alibaba a scam?
- I just made a huge update to my app that I worked on for the past 3 months but my user retention rate is basically the same the following two weeks. What should I do from here?
- Bought a Subway Franchise
- Working on starting a marketing agency. What questions should I be asking to begin my research?
- Jump in to become wealthy - great idea hitting the wall.
- Which one do you prefer to take notes? Writing or Typing?
- What do you guys think of Healthy You vending machines?
- [Advice] Best Tool For Auto-Webinar Funnels 2020? (including Content Reveal)
- Anyone know any Instagram bots that still work to any extent at growing a following and potentially growing sales?
- Wedding business ideas?
| A little piece of advice I read a few days ago Posted: 13 Oct 2019 04:12 AM PDT If I can do a job that is difficult for you in 30 minutes, it's because I spent 10 years learning how to do that in 30 minutes. You owe me for the years, not the minutes. [link] [comments]  |
| 10 Most Successful Habits of a Venture Capitalist Turned Entrepreneur Posted: 13 Oct 2019 05:00 AM PDT This past year I pivoted from a career in venture capital to create a mental health technology company. Here are a few of the habits that I've found have helped me get the most out of work and life: [Note: I'm not claiming to be a superhero or Tim Ferriss, but hoping you might find one or two here to help you as well.]
Hope you found this helpful and please let me know your own top habits in the comments, as I'm sure that there are some key ones that should've made my top 10. Blessings, Liam [link] [comments]  |
| Challenge. How would you replay your life? Posted: 13 Oct 2019 04:53 AM PDT Imagine you wake up as a healthy 25 year old, who has no assets, no network, no track record, but also no family and no debt. You retain your knowledge and skillset. How would you go about your life to become moderately wealthy? Extra challenge: you can't be an employee, you can't work illegally, you have to pay 500$/mo for living space. You have 200$ to start. [link] [comments]  |
| Posted: 13 Oct 2019 11:17 AM PDT Where do you guys find your technical talent for your boutique consulting company? [link] [comments]  |
| Started writing down my ideas and useful notes & comments from this sub. Posted: 13 Oct 2019 01:49 PM PDT (https://imgur.com/gallery/QFJg2Xe) I've been reading a lot on this sub and through the day I always came upon great ideas but never wrote them down so then I would forget and it will be gone forever. As well as for the useful comments on this sub where I learned a lot from. It honestly feels better to write things down and it gives me a boost of confidence. [link] [comments]  |
| Was laid off, got a job and ready to start my own company, advice please? Posted: 13 Oct 2019 12:45 PM PDT Hey everyone! I posted here about a couple of months before as I was laid off and wanted to create my own company, I received a lot of feedback from this community about getting a day job first to support my family and be able to eat hehe. I start tomorrow in a management position at Amazon, with schedule flexibility. If anyone remembers replying to my previous post, I truly appreciate your help, feedback, support and/or honest criticism. I even got a couple of leads from that post. Now, I would like to humbly request advice from you guys again, I have a couple of partners, we already have an initial version of our website, email accounts, social media accounts, working on a couple of leads, since I´m creating a Software Development company and previously worked for one, I already have a development team who I trust and worked with before, excellent mobile and web developers, along with a senior Project Manager, one of the partners is also a developer and Scrum Master and I have over 15 years experience managing people, services and operations. My challenge is to establish the company, grow it, and support my partners, create relationships with customers, all while also having a full time, day job. I know some of you have done this in the past and I would love to learn from your successes and failures. What were your challenges? What would you do differently if you had to start over? Did you leave your job to focus on your company? did that work or would you like to have waited a bit more? How did you know it was time to transition to being a full time entrepreneur? I wish you all the best in your businesses and thank you in advance for any tips or advice you post here, thanks! [link] [comments]  |
| What are the highest earning stocks etfs or bonds etc, to invest in that have low risk Posted: 13 Oct 2019 12:43 PM PDT Hi so I'm a 17 year old I think I've learned enough to start investing in the stock market I just want to put my money in the right spot you know and I know the saying where there can't be a high earning stock with low risk but I want the closest to as I can get to that and I would like to put my money in multiple stocks not just one. [link] [comments]  |
| Configuring a dual newsletter for a bilingual site Posted: 13 Oct 2019 11:56 AM PDT Hello. I've a blog which posts in english and spanish and I was going to give a newsletter for each language with the newest blog posts, but i don't know how to make a sign up form that differentiates between each language, or if i'm able to in the first place. I'm currently using Mailchimp becuase it's free and I used Aweber but wasn't very helpful. Please help. [link] [comments]  |
| Plastic injection molding protecting & developing - few questions Posted: 13 Oct 2019 11:07 AM PDT Hey there, I am an online seller, and I am interested in creating my first plastic injection mold. I have a physical product which is a very generic item (Which I prefer not to reveal). I want to have it measured, and change the material to plastic with rubber overmold instead of just plastic. I know that that the process can be very expensive therefore I have a few concerns :
Not sure if anyone here will be able to help me with those questions, but I believe that this post may be helpful to a lot of users here. Thanks a lot [link] [comments]  |
| How to make a Business Portfolio Plan for an Automotive company? Posted: 13 Oct 2019 10:55 AM PDT The above is needed for an assignment, i'm stuck at the portfolio part yelpppp [link] [comments]  |
| Posted: 13 Oct 2019 10:16 AM PDT Anyone here own a service business that makes a lot of money? Like around high six figures in revenue and salary? I'd love to hear some ideas. [link] [comments]  |
| $200,000/month with a software that automates startups legals [former Head of BBC's iPlayer] Posted: 13 Oct 2019 09:00 AM PDT Hey - Pat from StarterStory.com here with another interview. Today's interview is with Anthony Rose (u/startups101) of SeedLegals, a brand that makes startup legals. Some stats:
Hello! Who are you and what business did you start?Hi, I'm Anthony Rose, founder, and CEO of SeedLegals. SeedLegals is the new way to close your UK funding round. No lawyers, no accountants, everything done on your terms. Our always-on platform, supported by a team of experts lets you raise funding dramatically more efficiently and cost-effectively. We now close 8% of all UK funding rounds in the UK, and complete 10% of all Advance Assurances with a 97% HMRC approval rate (the market standard being 64%). SeedLegals is the largest, fastest and most reliable closer of rounds in the UK. What's your backstory and how did you come up with the idea?I used to head up BBC iPlayer. After leaving the BBC, I built a startup -sold it- built another startup -sold it. I then invested in a few startups and got tired of paying lawyers. In a stroke of luck, I met my business partner Laurent Laffy, serial angel investor, and ex-VC. We got together and decided it was time to transform the way we do funding rounds. Take us through the process of designing, prototyping, and manufacturing your first product.For a startup, most founders think that the problem is building stuff. Founders are often technical and love to create things. However, experience has taught me that the key problem is getting people to want the things you've built, not actually building them. The idea is to start by creating a minimum viable product to verify whether people actually want what you are building, without spending loads of your own time and money. For SeedLegals, working on legal agreements, it's a bit more difficult. You can't have a minimum viable Shareholder's Agreement or Articles of Association… Our strategy mimicked that of a swan, appearing to glide elegantly across the water with some frantic paddling beneath the surface. What I mean is that, when we started SeedLegals, all the consumers could see was a slick website that let you set your deal terms and generated a contract. In reality, behind the scenes, our CLO and team were manually handcrafting things to make sure all of that happened and worked. Most early-stage startups adopt the 'fake it till you make it' approach when they start out. Through significant human effort, you give your users a seamless customer experience. You work this way until you get tired of doing it yourself, and you've worked out exactly what the customer is looking for. Then, you use technology to automate everything. Describe the process of launching the business.When you start a company, you have several problems to solve:
In our case, we knew customers would want automated funding rounds. My co-founder and I were essentially customers ourselves, having both been around for a while. We knew we could fund it, create a team, and build the product. Interestingly, the big question was not whether customers would want the product, but whether investors and law firms would allow it to be used. Startup founders could have loved SeedLegals but investors may have insisted on using their 'trusted' law firm. That was our key problem. When I work with startups, I want them to focus on finding the key proof point. It could be that the solution is something technically complicated, if so, can you build it? If it's easy to build, will people want it? If people want it, are you differentiated enough from your competitors? SeedLegals' proof point wasn't whether the customers would want it, but whether investors would allow deals to be completed on it. I was delighted when I found out that most investors hate the time spent on legal. Often the cap table is a mess, founders know little about funding rounds and have unrealistic expectations. By having a beautiful automated platform, SeedLegals offered investors a professional set of documents with the ability to e-sign everything online and have all their legal created in no time, all in one place. Founders also get unlimited awesome support at zero extra cost, meaning Investors now deal with founders educated about the process. An investor investing in a CBD company where traditionally founders are not versed in the process of funding rounds wrote to me that, "whenever I asked my founders for document changes, it took them seconds to update, and they knew everything about the deal terms! So I asked them, 'who is the muse whispering in your ear,' and they said SeedLegals... I had to use you guys for my future rounds." In fact, angel investors love us! Earlier this year we were named Rising Star Legal Team for Early Stage Deals by the UKBAA. Since launch, what has worked to attract and retain customers?We currently acquire 1/3 of our new customers through word-of-mouth via customer advocates and partners. We also have virality built into the platform. Whenever a company raises funding, they invite all their investors to sign. That's up to 30 new eyeballs on your product for every 1 new customer acquired. It's led to steady growth of investors who insist on only using SeedLegals for their investments. Another 1/3 are acquired through content marketing and SEO. We've written hundreds of articles designed to help founders go from an idea to getting investment. Our most successful articles leverage insights we've uncovered from the data on SeedLegals. We're able to dive in and explain things like how to value your company, using real-world anonymized data collected from thousands of similar companies. That's something no law firm can do! Worth mentioning, the way we acquire customers has changed substantially over time! In the beginning, we needed to get the word out to founders fast. We sent thousands of cold emails, generating lists from Crunchbase and AngelList. Around 1% of everyone we contacted through this channel converted to paid customers. We needed a better converting channel. So the next thing we tried was events. One of the great things about targeting startups is that they hang out in the same places. So we started doing workshops and seminars at workspaces and accelerators. It worked great. Events are still our highest converting channel, with 11% of attendees becoming customers. How are you doing today and what does the future look like?In my experience over the years, I like to think of technology solving problems in two phases: Phase 1: Identify a current pain point, a utility problem you can help somebody do better. No need to change the world. In our case, it was simply that the founders needed to get funding more efficiently, so we helped them do that. Phase 2: The next step is how can you leverage the network effect. How can you use the customers you've got and your expertise to create things that give you a competitive advantage? Up till now, we've been focused on Phase 1 - our website. It simply showcased SeedLegals as the fastest way to close around. There was no mention of Blockchain or smart contracts - it was simple and it solved a problem. Now we're focusing on the next step, which consists of two things. Firstly, in the same way, that TransferWise does 'borderless banking', imagine borderless legals! Imagine if you were able to see deal terms across multiple countries on your single interface, all in English and terms you understand. You'd be able to invest with Terms Sheet and Shareholder's Agreements you're familiar with, which are simultaneously rendered in a different language. It can transform the way we invest across Europe. European companies can raise across the continent, and London investors can tap into unlimited foreign enterprises. Secondly, with a growing percentage of UK startups completing funding rounds on SeedLegals, the next step is capturing both sides of the market: startups and investors. We're currently working on a version of SeedLegals designed for investors where they can lead with a Term Sheet and negotiate the deal terms in a single interface. We see a future where humans negotiate the deals' terms and machines generate the legals in seconds, instead of paying a lawyer to spend 3 days doing it manually. Closing deals this way also creates data showing the market standard for both investors and startups, so they can close on deal terms everyone is happy with, dramatically faster than ever before. Through starting the business, have you learned anything particularly helpful or advantageous?I've learned a few things ...Firstly, a founder's initial perception is generally that building the product is the hard part. In reality, having people want what you've created is the issue. Often I see pitch decks and businesses looking for money, but they have no website traffic or users. It's disappointing when someone has put in so much effort building what looks like an elegant site and a fantastic product, but they've got no actual demand for it Secondly, often startups try to persuade investors by being everything, a B-C business, a B-B business, having APIs, using blockchain and doing a million things at once. In fact, my experience has led me to see that doing one thing well is much better than doing multiple things. Whenever I see a pitch deck that shows a company being B-C, B-B, and other things, I view it as a negative, not a positive. A pitch deck should have clarity on what their consumer or business proposition is, but not both. Another thing I've seen when people initially create their website is essentially telling people all the things they do and how clever they are. To be honest, nobody cares. Consumers are only interested in what's in it for them as users. My advice is instead, don't focus on the techniques and technology of whatever you are building. Focus on how it benefits the user. For SeedLegals, the first version of our site was all about how we use document automation technology for legal. No one cared. Once I realized that what people wanted to know was we could help them close a funding round faster and cheaper, that became the focus. In fact, there is no mention of the word 'legal' or 'automation' on the home page. It's all about looking at the problems consumers have and how you solve them. What platform/tools do you use for your business?We use quite a few, so here are everyone's favourites:
What have been the most influential books, podcasts, or other resources?The book that I regularly recommend and the one that I keep thinking about is The Mum Test. The name comes from the fact that generally when you have an idea, you don't know if it's good or not, so you ask people. One of those people might be your mother. "Hey mum, I've got this amazing AI-powered bicycle lock with GPS tracking, is it a good idea?". Of course, your mother would say, "my son is so clever, of course, it's a good idea." However, this brings up two problems. Firstly, you've asked the wrong audience. Your mum doesn't ride a bicycle and isn't interested in a GPS enabled AI lock, and secondly, you've asked the question in the wrong form, "imagine if this would be brilliant!" when in fact you should be asking "have you ever looked for such a thing?" If people say, "mmm not really," that's a good indicator of two potential things. One could be that you've created something so revolutionary that no one's looked for it, however, the second and more likely scenario is that there's no real market need. You may build it and no one will come. So The Mum Test is named on the basis that you've asked your mother to validate your product. Instead, if you ask your possible audience, and they say "yes I've looked for such a product. I found three of them, two don't work, and one is very expensive." At that point, you know that you have a technical or price point advantage, which if you can hit, you have a market. Advice for other entrepreneurs who want to get started or are just starting out?It's a marathon, not a sprint. Our data shows you're going to be putting a median $32,000 of your own money into the product before you can raise investment, so make sure you are able to fund it yourself. Some people put in a lot more, but the idea is that nobody invests on a powerpoint. You need to have built something, a prototype or minimum viable product, something to demo to investors to show that there is something tangible to work with. Ironically the best way to be a founder is to have sold a previous company and have enough money to fund the new one! Be aware that it may be several years until you see the value created and you should perhaps expect to be with the company for 5 years before you potentially have an exit. You may get lucky and get an exit sooner, or you may not have an exit but grow the business to be cash flow positive and not need one. However, broadly your goal might be over three funding rounds to raise 3-5x the amount of the last round, at 3-5x the valuation. In this way, after 3 rounds, your business either doesn't need more investment or you're ready to be acquired which offers a nice return for everybody! Are you looking to hire for certain positions right now?We are a great startup with a wonderful office in Holborn overlooking (rather ironically) Lincoln Inn fields amongst all the law firms. We're growing our team in all directions and need a range of talents from law grads and salespeople to Java and Angular developers to join us! We would love to talk to the smartest people that understand startups, funding and perhaps have a legal degree, but are looking for something other than a law firm in their future. 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]  |
| [Idea validation] Web platform for creating "markets" (like subreddits) for niche digital economies Posted: 13 Oct 2019 08:33 AM PDT Hey everyone, hopefully I could get some feedback on this idea. I'm looking to develop a web application where individuals can create (and others can join once created) marketplaces that pertain to a certain digital niche, and on that marketplace transact digital goods. All the marketplaces would be centralized on our website and the markets/digital goods and services they create, could all be accessed from a simple search on the homepage. The concept would work like a Reddit, where if you are the first of a community to make a market, lets say Wordpress Plug-ins, the website "creates" the market and you can start listing digital goods and services. It would be a compliment to forums/blogs for niche communities who may not have enough members to create their own e-commerce site, but still find a platform for engaging in these transactions on a central platform helpful. If you are non-affiliated with these niche markets but are looking for a service or good they may offer (i.e. logo design for your business), you will be able to find what you are looking for through a general search as usual. The idea is the website serves both ends. What does everyone think? Is there a market for niche communities transacting digital goods? I'd love to hear people's thoughts. [link] [comments]  |
| Buying PS4's from alibaba a scam? Posted: 13 Oct 2019 07:42 AM PDT Theres a lot of suppliers selling PS4's for $100 a unit including games but everytime you message them they make you chat through whatsapp and say you can't pay through alibaba, some of these are legit suppliers with multiple years and on site checks just want to make sure I'm not going to get scammed if I take the plunge and order a few. [link] [comments]  |
| Posted: 13 Oct 2019 06:39 AM PDT So for the last 3 months, I basically worked on a ton of new features/upgrades for my bookmarking app (think Pinterest/Pocket). Things like making the app load faster, adding boards to organize posts, adding an explore page, adding Google/Facebook login/sign up, adding an HTML parser to make the app better at grabbing images from content when you save that content, letting users swipe through posts in our custom web browser, and a few others. But it didn't even make a dent in the number of users who come back each week. What am I doing wrong and what should I do now? [link] [comments]  |
| Posted: 13 Oct 2019 06:29 AM PDT I want to start off by saying that my store is not actually a subway but just for the sake of simplification I will use "subway" in place of my actual franchise name. So I recently purchased a Subway in the state that I reside in.So far things have been going good. Another Subway recently got sold in the same state and our franchise business consultant(audit inspector) gave us the personal cell phone number of the manager of the new subway.We recently called this manager as we took it as a sign that the BC was pointing us towards poaching this manager without directly saying it. When we called the manager she told us some information about running the store and that she would meet us at our store to share more information in regards to running a successful subway.She spent 3 hours talking to us saying a whole bunch of things that we already knew, she also mentioned that the new owner doesn't even set foot in the store so she can't really train her. I am unsure of this managers intentions as she wasn't really being receptive to the hints I was throwing at her. I asked her about what her plans where and if she was staying in the store with the new owner. She said "for now".I am not sure if she is looking for a new job or if she is looking for a job offer so that she can negotiate a raise with the new owner. Poaching is a bit frowned upon in the franchisee community but it is not illegal. I know reddit wasn't there for the conversation, but can someone here please help me decipher what her possible motivations are for driving an hour to my store just to talk for three hours? It seems like there is something fishy going on here as she has absolutely no incentive to do this besides trying to sell herself. Thanks. [link] [comments]  |
| Working on starting a marketing agency. What questions should I be asking to begin my research? Posted: 13 Oct 2019 06:25 AM PDT As a bit of background, I attended the same performing and visual arts high school that Beyonce Knowles and Matt Mullenweg (creator of WordPress) attended. I was a visual arts student, so I have a heavy formal background in the visual arts, design, etc. I recently finished a tech bootcamp (I was always technically inclined as well) but started teaching myself web development 8 months before entering that, so I wanna say I've been a developer for almost 2 years now. I just landed my first position ast a startup, and while I was originally hired for one thing, they found out about my graphic design and programming skills, and have me doing their original tasks I was hired for, as well as creating their marketing materials (they had pretty much none prior to me getting there), and I'll be programming some apps to shorten a ton of processes at work. My boss has been VERY pleased with it, and I realized that when I make websites for people, I often do their logo, color scheme, and for some, I've even helped them name their business. I realized that I could do great creating marketing company and moonlighting. The thing is, I'm trying to make sure I even have all of the right questions to begin researching, because I've been stressing myself out trying to figure out everything I need to cover before I do a soft launch. Here are the questions I've written down thus far: - What is the best way to find potential contact details? - What is the best way to structure cold emails? - How to find out what client base I should be targeting? - What high ROI companies need marketing the most? - How do I best work with clients in other states and other countries? - How to structure a 30-minute consultation? - Are hourly or flat-fees better for pricing? - How do I list my business when I don't have a physical location? - What types of businesses benefit the most from a dedicated marketing service? - If I outsource certain services (like SEO), are they in legal trouble for poor services, or am I? - How do I utilize LinkedIn for my marketing business? If you guys have any more things I should take into consideration, I'd appreciate it if you'd let me know! [link] [comments]  |
| Jump in to become wealthy - great idea hitting the wall. Posted: 13 Oct 2019 09:46 AM PDT I am thinking about writing this post for a few days already. I tried alone but I can't, do not have enough knowledge and time but refusing to abandon the idea I had and I think can make a lot (I mean a lot) of money. If you are experienced e-commerce store owner/entrepreneur/marketing expert and want to join some stranger in making something every parent want to have (and making a lot of money along the way) then please read on) Around 9 months ago I got my first baby. We had some complications (not going into detail) and after everything was done I got the idea of creating something that will "freeze that moment" create some kind of "time capsule" for my baby with the most important info about her. . And I finally admitted to myself it is beyond my knowledge and I do not have enough time with 9 months old child. Project and product dying and that frustrates me. So, this is my way of asking for help. I would like to find someone who has experience in online retail/marketing/entrepreneurship who is ready to join me in 50:50 and create a company and make this happen. I am ready to invest all the time and money I have, but I know I can't alone. I hope I will find someone to join me and make this (still) idea to happen. I am flexible, ready to meet you in a person anywhere in EU and to change/edit a product if needed. Thank you all and wish you productive week. [link] [comments]  |
| Which one do you prefer to take notes? Writing or Typing? Posted: 13 Oct 2019 04:49 AM PDT I used to write downs when I'm reading Robert Kiyosaki and Jim Rohn books but when I discovered the app Notion, it's much more convenient for my work and notes. Do you there's a major difference between writing and typing for taking down notes? [link] [comments]  |
| What do you guys think of Healthy You vending machines? Posted: 12 Oct 2019 11:37 PM PDT I came across this company that sell a vending machine franchise that is targeted for healthy individuals. On the surface they seem like they know what they're doing and have been in the market since 99'. If you become an operator they offer training and assist with locations for the vending machine you will operate. They supply the healthy snacks as well. Minimum investment is about 30k and goes up to 220k. I was wondering if anyone here has tried working with them so i can have an unbiased opinion. They pretty much offer full support but i would like some user feedback from an investor. Thanks. [link] [comments]  |
| [Advice] Best Tool For Auto-Webinar Funnels 2020? (including Content Reveal) Posted: 13 Oct 2019 03:08 AM PDT So I've recorded a webinar and I want to display a CTA button around minute 50 and make sure it can be booked to start automatically within X minutes after opting in. I've heard recently that ClickFunnels has seen a decrease in quality lately, more bugs and I'm not a huge fan of pricy subscriptions. (I can build 90% of the funnel for free, I mainly need automation and content reveal-settings for that button to appear). Any advice or recommendations? Would you still recommend ClickFunnels? [link] [comments]  |
| Posted: 13 Oct 2019 08:40 AM PDT |
| Posted: 12 Oct 2019 09:19 PM PDT Hey all, My wife runs a wedding cake business out of a warehouse. I have a full time job, but often work weekends (every Saturday and some Sundays) helping her with bits and pieces (cleaning, deliveries, etc). That's to say, I spend a lot of time at her place of work which has me thinking about a complimentary wedding business I could run. As I said, she runs her shop out of a warehouse so there's plenty of spare room. Is anyone aware of a (preferably) low touch complimentary business I could run? We have a delivery van so a prop business is an idea. I've also considered a turnkey business idea like photography booths. I've also considered car hire... but I'm sure there's plenty of expensive licenses involved in that. Has anyone done anything like this? There's a bunch of more involved ideas, but I'd rather not spend 20 hours a weekend on top of what we're already doing. Appreciate any ideas! [link] [comments]  |
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