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    Sunday, October 27, 2019

    Best marketing strategy ever! Steve Jobs Think different Entrepreneur

    Best marketing strategy ever! Steve Jobs Think different Entrepreneur


    Best marketing strategy ever! Steve Jobs Think different

    Posted: 27 Oct 2019 05:55 AM PDT

    $500,000 to start any business...

    Posted: 26 Oct 2019 04:14 PM PDT

    I've been saving from living/working on the road with my family for years, but now I want to settle down, buy a house, and start fresh. I have $500K to build any business I want. Looking for something fulfilling, but still have time with the family too when needed. Also a business I could pass to my kids would be great. Fewer employees, the better. Thanks

    -I'm hard working, but have few skills outside of commercial construction work. Willing and able to learn new skills.

    EDIT: Not looking to invest in markets of any kind... solely building a business.

    submitted by /u/VeganBeefcake
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    I started a small podcast about the video game industry and gaming entrepreneurship, along with a bit of gaming nostalgia.

    Posted: 27 Oct 2019 10:27 AM PDT

    I began playing games in 1990. 18 years later, I started making small side gigs and began trying to figure out ways to earn money online. A few years after that, I began working as a game designer in the gaming industry. Right now, I'm running several small ventures related to the gaming industry (website, few social media accounts and a YouTube gaming channel).

    I started IM Gaming podcast to try and explore all of those things in - what is in my mind - a wide, but a cohesive ecosystem.

    If that sounds interesting to you, check out the first episode where I talk about all of that right here.

    Thanks!

    submitted by /u/IvicaMil
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    Success in shrinking industry

    Posted: 27 Oct 2019 11:37 AM PDT

    I own businesses in two shrinking industries. All are seeing double digit % gross revenue growth year over year. All are seeing triple digit % net growth.

    For most companies in these industries, shrinking gross revenue only 3% is seen as good results.

    So when we go to trade shows and discuss trends, people either want to know what my " trick" is, or they think I'm a fluke.

    The trick is fairly simple. I invest in staff training and make sure employees prioritize their personal lives over work. Then I get out of their way.

    Someone realized a while back it's more cost effective to treat employees like crap and recruit new ones every few years while taking advantage of employees unwilling to relocate for work opportunities by not giving regular raises and only doing performance related increases.

    That might work in a high demand field, but in a shrinking industry it means their quality suffers, and revenue dives. While I might spend more in the short term on people, I'm still growing and have no need for an exit strategy to cut my losses.

    submitted by /u/UpAlongBelowNow
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    So is TikTok actually good for entrepreneurs... what returns have you made with the platform so far?

    Posted: 27 Oct 2019 02:28 AM PDT

    What to do??

    Posted: 27 Oct 2019 11:08 AM PDT

    I need some inspiration guys....I've run a business within the travel industry for 10 years. This year has been real tough and struggling to keep it going. I've developed some incredible skills from this as I've run all marketing, social media etc myself but, as we don't have huge pots of cash to throw at advertising, competitors such as household names are taking out business.

    I really don't know what to do next. I did my degree 20 years ago in business so it's all I know. As I say, I now have extensive experience in online and offline marketing and had considered offering small business these services but that is soooo saturated.

    I've split everything down into my skills sets but they all seem so saturated. I don't have the appetite to start another travel business.

    Business growth is something I very much enjoy and considered a limited space workshop offering businesses my experience to grow there businesses over a period of 3 months.

    It's a tough time and need some external input...

    submitted by /u/rtguk
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    Need a reality check

    Posted: 27 Oct 2019 07:13 AM PDT

    So a while back I had an idea for a business which I thought might be feasible. The idea is basically based on the idea that during a goldrush you should sell shovels. In essence the idea is to cheaply rent low cost foodtrucks to people who don't have the money, credit or risk tolerance to start their own foodtrucks. The idea is that they would lease the trucks exchange for low rent and a small percentage of their revenue. The leases would be cheap short term leases so the client can just keep renewing the lease if his or her truck is succesful but only has to pay a small amount for one lease period if the truck fails, minimizing the risk for both parties seeing as they don't have to pay a lot for the truck and the company doesn't have truck with low revenue for long. I also thought of adding a free app where truck owners can create a profile for their truck, so people can see where the trucks are and what they serve (I know foodtruck finding apps already exist but the main purpose is to get customers to the trucks of our clients). I'm pretty new to entrepreneurship so I might have missed something that makes the entire business model unworkable. Any and all feedback would be much appreciated.

    submitted by /u/POTATOEPERSONPERSON
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    Business idea

    Posted: 27 Oct 2019 12:39 PM PDT

    Have you guys noticed that : eating out is very difficult and expensive.

    in an area, typically,

    You find few outlets selling pizza or burger, you find a restaurant in which meals are quite expensive, and that's it.

    Here you have : only few foods, and they are expensive

    You can eat almost nothing,

    Eating out is nearly impossible

    Do you guys see ?

    This model is very inefficient

    Something important is missing

    It is : a restaurant where food keeps changing, food changes every day

    Chefs also rotate

    This restaurant is going to serve thousands of foods over the course of time

    A meal is going to be cheap

    You will be able to eat thousands of foods

    Eating out will finally become possible

    This model is way better

    submitted by /u/doto631
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    Have you ever made small changes to your web/app that created big impacts?

    Posted: 27 Oct 2019 12:27 PM PDT

    Sorry if this is not a right place to post this question.

    Say you just add one line to your web/app and it improves conversion rates significantly. Please share your working experience.

    submitted by /u/jimmyloi92
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    What's the difference between an OEM and ODM on Alibaba?

    Posted: 27 Oct 2019 11:24 AM PDT

    And which ones do you know of that can have low MOQs for custom shipments?

    submitted by /u/IsntThisSumShit
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    What are the types of marketing services Entrepreneurs spend the most on?

    Posted: 27 Oct 2019 11:22 AM PDT

    If you are a business owner, which area of marketing do you spend the most on?

    From SEO, PPC, email, social media management, website design, web development and man more etc.

    Which area of digital marketing is the most expensive to you as a business owner?

    submitted by /u/psquarec
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    I need a small warehouse space but can’t afford one, any suggestions?

    Posted: 27 Oct 2019 10:36 AM PDT

    I make handcrafted bath and body products. I do everything from manufacturing to labeling and shipping.

    I've been working out of my kitchen but now I need more space. I have several large holiday shows coming up and will need to produce and store a lot of product and I just can't do that in my kitchen and small apartment.

    I'm using every space I have in here and I'm going to need to upgrade equipment or buy multiples to be able to make enough product for thousands of people at each show.

    I can't afford a warehouse space In my area right now but I need one. Working out of a storage space isn't allowed either. Do I have any other options? Can anyone direct me where to look?

    submitted by /u/icecream16
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    Where Do I Pay My State Business Taxes?

    Posted: 27 Oct 2019 10:14 AM PDT

    I have a Wyoming Registered LLC. I have a DBA in Colorado for the business I run. The business is located in Colorado. Where do I pay my state business taxes? Colorado or Wyoming?

    submitted by /u/mike7seven
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    Thinking of starting my own business

    Posted: 27 Oct 2019 09:30 AM PDT

    I'm 18 I've been making my money since 13 by selling things online and doing resale as well. Occasionally I'll get really inspired to go for something and currently I now want to make my own makeup and sell it. I see a lot of younger girls do it on YouTube and they all have nice websites and such. Where do I even start? Any tips? I'd do Etsy but rn I don't have a bank account of my own I just have a debt card in my grandmothers name and a cash app account and PayPal

    submitted by /u/Parad0xeds0ul
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    Sharing website statistics with potential clients

    Posted: 27 Oct 2019 05:09 AM PDT

    I am working on building a high traffic website. I was wondering what is the usual convention when approaching potential clients like sponsors to pitch your high value traffic. Do you usually share screenshots of your traffic or do you create a read only user so they can trust your numbers?

    submitted by /u/xstheknight
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    Has anyone been a contract sales specialist? Started a lead generation company?

    Posted: 27 Oct 2019 08:23 AM PDT

    I'm wondering if anyone has had any success in starting a lead generation/sales consultancy from the ground up? I've been working in the industry for about a decade and know what companies are paying for this as an outsourced resource and want to give it a go and build up a business, but just curious to see if anyone can give me some insight. Thanks!

    submitted by /u/citizenpuppet
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    Direct mail advertising

    Posted: 27 Oct 2019 07:52 AM PDT

    I'm considering doing a direct mail campaign for my business. I believe I have a good target market and an offer that should lead to a solid ROI. Wondering if anyone here has done direct mail advertising and can tell me a couple things. One, what kind of discounts can you get on postage when shopping in bulk? If I get 5000 postcards made, what is a good price with the postage included? Anyone have a good company for direct mailing that they can refer? Is it better to buy the post cards and mail them yourself? If there isn't tracking I would have to trust the company sent all my post cards out.

    submitted by /u/AromaticMidnight
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    Self-development and business online library idea

    Posted: 27 Oct 2019 07:51 AM PDT

    Hello,

    I got an idea for an online library for self-development and business ebooks.

    You could get about 7 ebooks (based on your choice) for a bargain price of $15/month. There could be also more expensive plans and maybe some unlimited plan.

    The library would have many books, I'd say about 2 000 titles at the start and could grow in the process.

    Would you be interested in this?

    submitted by /u/Hot_Can
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    Thoughts on buying a Petrol station?

    Posted: 27 Oct 2019 06:56 AM PDT

    Hi everyone,

    I have saved up some funds in my current job and m thinking of purchasing a petrol station using the money as a deposit.

    Does anyone have any previous experience in owning a petrol station and with a business loan? would like to hear about any experiences good or bad.

    Also would be really eager to understand general sales etc and how much income is earned from petrol etc.

    Cheers for any help.

    submitted by /u/Deeps13
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    Split Expenses Post-Holiday Without The Awkward Conversations

    Posted: 27 Oct 2019 02:59 AM PDT

    I started out only with the desire to create something of my own, rather than a specific idea or even a problem area. The first question I asked myself was 'What kind of problem do I want to solve?', which lead me into fintech, more so than a specific product idea.

    Once I had settled on a product which helped users with their money on holiday, I struggled with validation. Like we've all done, I fell prey to interpreting weak signals (i.e. email sign-ups, verbal commitments) as market or product validation.

    We initially built a product based around saving for travel. Once we released Moneycado, we found it really tough to get people excited about this. Saving is not sexy!

    I've since read deeply on customer discovery, market research, and the jobs-to-be-done theory which have helped me enormously in how I articulate and iterate upon our product. I'd highly recommend Alan Klement's work in this area.

    We re-built the product to focus on solving the pain of getting paid back quickly and easily for expenses on group holidays.

    Who is your target demographic?

    Our target demographic is the 55% of millennials (please excuse the word!) that rate travel as one of their most important life goals. More specifically, it's the 30% of this group that take 3+ group trips a year.

    Since our product links directly to user bank accounts, we get a lot of hesitation and questions about the safety and use of their data, e.g. 'Are you reading my bank transactions?'. It's a great signal that we need to be clearer in the on-boarding process about why we're requesting this link, and why users might benefit from it.

    How did you fund the idea initially?

    I initially developed the idea on evenings and weekends, in between a full-time job. This gave me the time to put aside some extra cash, and also an extra level of security that I was being pulled towards something with real promise, rather than simply wanting to escape my job!

    I found the first year working full-time very difficult. I didn't pay myself a salary for 12 months, broke up with my co-founder, and aborted two different product builds before properly getting to market. With the benefit of hindsight, I consider it important education as an entrepreneur. Putting together an idea is easy, but executing on an idea and getting to market is very hard.

    What motivated you to start your own business?

    I had previously worked as a Product Manager for a big bank, with no real entrepreneurial history. This worried me initially, until a good friend gave some sage advice. She said 'You don't need to know what you're doing, you just have to back yourself to figure it out as you go along'. That was the moment my desire crystalised - I certainly didn't know what I was supposed to do, but I trusted myself to figure it out.

    Do you have any advice for someone just starting out?

    The process of starting a business seems to be looking back and saying "I wish I knew that at the start of the week"...every week for years! The learning curve is ridiculous. Here's the very first blog I wrote about getting started.

    In general, I'm wary of giving general advice. The answer to so many business questions is 'it depends', so I suppose my advice would be to be very wary of who you take advice from and for what! Ray Dalio has this wonderful concept of believability-weighted decision-making, which has always stuck with me.

    What are the apps your business could not run without?

    For personal and professional productivity I recommend Notion. It helps me to structure my thought processes, my to-dos, and company goals. It's also very beautiful!

    For work tools, I adore Figma for design, Pollfish and PickFU for customer research, and Dribbble and Behance for design and product inspiration.

    In terms of social media, I only use LinkedIn at the moment. The organic reach for posts is fantastic and I've made a number of useful professional connections from posting openly about my progress and process. Here's an example of getting some quick product feedback on LinkedIn last week:

    Are there any new services you're working on?

    Our short term goal at the moment is acquiring our first 1,000 users. I suspect the first few hundred will be very high-touch - speaking to my first and second degree network about their upcoming trips and selling our app - which will also help me in how I craft marketing messages and refine the on-boarding funnel. Thereafter we're planning a bunch of great content on how to make the most of group trips (e.g. ski trips, hiking trips, festivals, bucks and hens).

    We're currently looking to raise our pre-seed round of investment, having received some investment earlier in the year in an informal round. The investment will largely be for staff costs - I believe the primary focus at the moment is iterating to find product-market fit - and some set aside for growth experiments.

    If you enjoyed this post, the original is here.

    submitted by /u/WideHold
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    Looking for some business advice

    Posted: 27 Oct 2019 06:42 AM PDT

    Hi, am looking for some advice on this, am into tech industry.

    1. I am thinking to come up with a product in market. However, there is a company with similar product already in the market. Now this company is ready to pay me X% per sale.
      First option that I have is to build our own product and launch it in market then spend money on promotion etc and drive revenue. In this investment is required for product development. It has high investment but reward is also high, risk is also high.
      Second option that I have is to simply promote/sale the other company's product as a partner/affiliate and get X% commission on per sale. Here I don't have to invest anything on product development however to promote or sale, funds would be required.
      Third option that I can think of is, to pursue second option (promote and make X% of profit on per sale) and eventually buy stake in company. However, this isn't possible initially. To actually buy stake I would have to connect with founders and talk to them on this, if they are ready and amount is upto their expectations then only it would work and also I don't have funds to buy stake in their company right away.
      As a businessman/entrepreneur what do you think, what's the smart thing I can do here. Personally, I feel that risk to reward ratio is comparatively high in second option. I can go with second option and if everything works fine and I click with founders and have required funds at disposal I can bring this thing to them that am interested to buy stake in your company.
      Problems that I can think of with this second option is, what if I do incredibly well and after getting lots of clients from me they bring the commission % down or what if in future they shut partnership completely or simply don't pay me? Experienced folks reading this, is there any legal contract to prevent this from happening?

    2. One more thing on which I would like to get advice is will you suggest to outsource a business's core product development? For example sake, consider above product only. Suppose we go with the first option, we can outsource product development to any service based software company and launch product in market or we can build a dedicated team in house for this and start building the product.
      Pros and Cons of both:
      Pros of outsourcing
      - Product development cost would be comparatively less.
      - Since everything would be managed by them I won't have any hassle of managing a dedicated team for this and taking care of their employees salaries.
      Cons of outsourcing
      - The biggest problem here is the risk, we would be getting our core business product developed by someone else. They would have entire codebase with them. Code of our core product, the product which will drive sales. What if they launch it themselves or do something stupid?
      Pros of developing in-house
      - No security risk as explained in outsourcing con.
      - Since it would be build in-house we won't have to rely on any other company if we want to modify/expand functionality because our team would know of everything.
      Cons of developing in-house
      - High investment.
      - All the hassle of managing the team and working on go to market strategy at the same time. Need to take care of a lot of things.

    Please answer in a detailed manner so that I can understand the logic behind you picking up a particular option.

    Thanks.

    submitted by /u/geeky_ninja
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    How do you manage studying vs entrepreneurship

    Posted: 27 Oct 2019 08:24 AM PDT

    Exams are in 2 days, but my startup is gaining traction and I keep procrastinating on studying hahahaha

    Tbh I don't need to study as I already got into my next school by direct school admission but I feel guilty if I don't :P

    Also it'll be nice if you guys check out my startup which is my country's first ever Graphic Artist Association :) it's @theartistbooth in instagram!!

    The battle of studying vs growing my biz is killing me now hehe (guilty pleasures vs good grades)

    Also worth to note that I'm 3 chapters behind :)

    Sooo any thoughts? How do you guys stop doing your startup for a while to study?

    submitted by /u/limxinquan
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    Please Help me work less

    Posted: 26 Oct 2019 06:24 PM PDT

    I've started , built up & sold a few businesses over the last 20 years. Nothing big. All small business stuff.

    I'm not too smart.

    I tend to work in them not on them.

    I'm now 50. I really need to get smarter with my time. My current business my wife n I work our nuts off in it for very little return.

    Jan 2019 I hired some people to take over what I do and they failed. So I had to pick up the pieces .

    Really what I need are some people to step in , so my wife & I can focus more on its growth. But then we have a cash flow issue too.

    We tend to spend money on random things. Let's do google ads, let's do FB ads, let's hire a sales person. Oh none of that worked. Quick get on the phone no try n find some new businesses. Ha

    Recently we've been working on reducing costs , so we don't need to earn so much , so again we can make time to focus on growth.

    The business is the management of investment properties . We make very little money per management which is why we need to roughly double the number we manage to make the business viable.

    The stress for my wife n I is it all rests on us . If we don't bring in the business and manage the issues we loose business cause our team can't seem to do it as well as us.

    What my dream is . Would be to have the team run the business so I can just focus on growth.

    Not even sure if I am posting in the right sub. But any guidance would be appreciated.

    submitted by /u/Businessjett
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    Client outreach for Social media marketing

    Posted: 26 Oct 2019 10:50 PM PDT

    hi im 17 and ive been trying to get a social media client for a month or so now I have cold called and emailed over 100 businsses but I haven't been able to so much as close a meeting. im wondering if im doing it wrong (I've tried a few different scripts and templates) or if smma is just oversaturated. all help is much appreciated thanks!

    submitted by /u/bigpapi29
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