NooB Monday! - (October 07, 2019) Entrepreneur |
- NooB Monday! - (October 07, 2019)
- How To Start a Residential/Commercial Cleaning Business. Step by Step Guide. (Timestamps of all Topics Covered)
- Building an email list from a list of business URLs
- How I Built a Semiconductor Company in 1978 and exited for $839m 37 Years Later
- Entrepreneurs of Reddit: how much time each day do you set aside for decompressing, and how do you decompress?
- Subscription boxes
- Workplace fatigue on the rise
- Started in entrepreneur class at school, need some help
- Recommendations to find early adopter users for a mobile app
- Marketing podcasts?
- I just don’t understand particular consumer behaviour...
- Unsure which Business Venture to Pursue -
- Bringing a Food Product to Market
- Thinking about selling my own home made food products, does anyone have experience with this?
- 10% equity and 10% of the profits for a $10,000 investment too much?
- Advice on starting a clothing line
- Potentially able to become the successor/owner of a small business. What do I need to know?/what are some good resources for me to get familiar with?
- (buying Catalytic Converter ) concept question ?
- Motivated but nothing to work for
- Looking to open an online business, possibly in Consulting, is the online market oversaturated?
- Marketing class project
- How to record salary expense
- Underpaid estimated taxes - best investment to avoid penalties?
- Urgent: How should I ask a massively successful entrepreneur for help?
- Can you transfer over a DBA to new owner?
| NooB Monday! - (October 07, 2019) Posted: 07 Oct 2019 06:12 AM PDT If you don't have enough comment karma here's where we can help. Everyone starts somewhere and to post in /r/Entrepreneur this is the best place. Subscribers please understand these are new posters and not familiar with our sub. Newcomers welcome! Be sure to vote on things that help you. Search the sub a bit before you post. The answers may already be here. 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]  |
| Posted: 07 Oct 2019 09:22 AM PDT Video in mention: https://www.youtube.com/watch?v=Fs-xe1AUBjI Below are the topics covered in the video with relevant timestamps. Many of these topics can be applied to a variety of different businesses. Setting a Budget 0:55 -Residential Vs. Commercial -Insurance Requirements -Employees and how much to expect to pay Choosing Your Business Structure 3:09 -Sole proprietorship vs LLC -How to set up your LLC Taxes 5:04 -Tax difference between LLC and Sole Prop -Get an accountant. How to find a good CPA -Try to find professionals who have done what you're doing Naming Your Business 4:37 -Choosing an interesting name -Good names may draw more customers -How to brainstorm a good name using deep work -Your identity is tied to your business name -Choosing a logo Franchise or Not? 9:00 -How entrepreneurial are you? -Do you want systems and processes set up for you? -What level of control do you want in your business -Do you need a support system? -What are your long term goals? Organizing Your Finances 10:41 -Getting a business bank account. -Where to get an EIN -Importance of separating your personal and business bank accounts -Business credit cards Insurance For Cleaning Business 12:28 - Residential bond and basic liability insurance -What is a bond? -Commercial cleaning insurance requirements -Janitorial surety bonds -To find out the insurance requirements for your state go to: https://www.sba.gov/business-guide/la... Insurance For Employees 13:54 -Worker's compensation is needed and why Supplies For Cleaning Business 14:45 -Start small then expand to new services -General supplies needed Rates and Your Business Model For Cleaning Business 16:36 -Should I charge hourly or flat rate for my cleaning business? -Hourly ranges -Bumping up price for time time or move out cleaning -Commercial cleaning rates charging hourly vs by sqft. -Range of commercial prices depending on size of space -Net 30 or Net 60 for commercial cleaning -Determining rates by calling competitors -Customer service gems/giving gifts -Thinking about what a 10 star cleaning business looks like Marketing 21:45 -Offline marketing for your cleaning business
Online Marketing
-Always invert and think what the customer is searching for Referrals 27:57 -When and how to ask for referrals for your cleaning business -Offering an incentive -Thinking about lifetime value Finding the Right Customers for Your Cleaning Business 29:21 -Which customers you should keep Employees for Your Cleaning Business 30:36 -Spend the time upfront in hiring -Finding employees in person -Employees on Craigslist and Indeed -Disqualify as many people as possible -Forms needed to hire an employee -Payroll How Much Can a Cleaning Company Make? 35:09 -Yearly expectations -1 million a year Thank you for watching and reading! Videos like this take 20 hours+ to put together and I'm excited about this one. [link] [comments]  |
| Building an email list from a list of business URLs Posted: 07 Oct 2019 12:24 PM PDT Hello. My goal is to email a large number of businesses that I've founded through semi-automated use of Google Maps Places API. Essentially I've used the API to construct a list of a several hundred target businesses in a certain area and now I am trying to determine an automated way to send them all a pre-written message. The Google Maps API doesn't have email address in the return results and the 2 emails scrapers I tried don't work well because most websites use contact forms and do not provide their email address. Any ideas? [link] [comments]  |
| How I Built a Semiconductor Company in 1978 and exited for $839m 37 Years Later Posted: 07 Oct 2019 05:42 AM PDT I started Micrel Semiconductor after trying three other businesses. I decided to get back into an area to which I had 15 years experience. The local semiconductor companies were looking for quality and reliability testing. I validated the decision to provide testing services by researching the local market. I got my first three customers, because I had good friends and contacts with those companies. I decided to go with bank funding, because I was profitable during the first three months. I decided against VC funding, because I did not need a lot of funding and I wanted to have majority ownership of the company. How did you attract clients in the early stages? Because I wanted to be profitable from the get-go, I picked customers with whom I had solid relationships. Because I was in Silicon Valley, I had a boatload of customers who could use my services without going outside the area. How did you fund the idea initially? I went with bank debt because I could service the debt with positive cash flow. My partner and co-founder was someone whom I had worked with and known for several years. Since I had numerous years of experience in the semiconductor industry and with local companies, I had a proliferate of potential contacts. For the most part, I never had to use advertising or social media to attract employees. Soliciting potential employees from my existing employee pool helped me find qualified people who would culturally fit in. Did you run any companies prior to Micrel Semiconductors? I actually had no previous experience in running a company. What motivated me to start my own business was that my employer, with whom I was working, suggested that I strike out on my own, since. Apparently, I did not fit into a regimented corporate structure. My wife was extremely supportive as were some of my friends. However, there were some naysayers that said I would fail within the first year. I love challenges and look at problems as opportunities as opposed to barriers: I never give up. My end goal was to not make my employees rich but to help them to become better people. I told my people that it was their job to make themselves rich and use me as a resource to help them. My advice to anyone contemplating starting a company is to: 1) have the experience and aptitude to start the business, 2) learn to do the tough things first (read my book, "Tough Things First"), 3) love your employees and treat them like family, and 4) be passionate: love what you do. My company grew three times om revenue within the first ten years. We weren't focused on growth for growth's sake, but instead we focused on growth with an eye toward profitability. We were profitable 36 out 37 years. We did an IPO on NASDAQ after we had been in business for 16 years. After we IPO'd, the company grew rapidly for the next six years until the DOT-COM implosion. The following fifteen years were growth challenging as we pivoted the company in a different direction focusing on more products and more customers. After the implosion in 2002, we decided to never have a customer with more than 20% of our business. This slowed our growth, but also reduced our revenue fluctuation. How did you protect the company from competition? I was very keen on branding and protecting the company. My company held more patents per capita than any other company in our industry. While patents are expense and difficult to protect, they are like "speed bumps"; they will slow down the competition. What tools help you run your business efficiently? The most important application is our accounting software. The next is our sales management software, manufacturing planning, and some home-brewed software. If you enjoyed this interview, the original is here. [link] [comments]  |
| Posted: 07 Oct 2019 10:39 AM PDT Do you work hard and play hard? Or do you just work hard all the time? [link] [comments]  |
| Posted: 07 Oct 2019 06:38 AM PDT Hi, What are your stories on the success and failings of monthly subscription service with boxes. I'm exploring an idea and want to know your quick wins, pains and the things that worked well or what you could have improved [link] [comments]  |
| Posted: 07 Oct 2019 10:53 AM PDT With workplace fatigue on the rise and our advancement in technology do you think its about time someone steps up and finds a solution to deal with the stress and fatigue that people are experiencing in the workplace? I am very curious on what everyone's thoughts are on this matter as I am doing some market research for a new venture. [link] [comments]  |
| Started in entrepreneur class at school, need some help Posted: 07 Oct 2019 02:32 PM PDT So this year i started in a entrepreneur class at school, but my group is very empty for ideas. Are there any everyday problems or something that we could make a product of, that would be useful? [link] [comments]  |
| Recommendations to find early adopter users for a mobile app Posted: 07 Oct 2019 02:23 PM PDT Anyone have experience finding users for app feedback or beta users? Specifically, looking to find dedicated users to jump on the journey of developing a sports news app similar to The Score and Athletic. [link] [comments]  |
| Posted: 07 Oct 2019 02:22 PM PDT Do you or anyone you know host podcasts related to marketing? My company would love to be a guest and I think it would work out mutually for both parties as we are quite a large and experienced firm. Is there sources for finding podcast hosts? [link] [comments]  |
| I just don’t understand particular consumer behaviour... Posted: 07 Oct 2019 02:21 PM PDT Okay so I have an e-commerce store. Yesterday I had 26 sales. Today I have had the same amount of traffic and only received 2. Nothing has changed on my store, no product descriptions, no shipping times, no prices etc. they have all stayed the same. The 1 difference is this. Yesterday I had a banner at the top of my store that said "40% off sale - Ends Today!" Today I removed it, however my prices stayed the same. Do you think this could be the only reason for a huge difference in orders? Or could there be something else that I'm missing? [link] [comments]  |
| Unsure which Business Venture to Pursue - Posted: 07 Oct 2019 02:19 PM PDT Hey all, Following on from my Analysis Paralysis thread: https://www.reddit.com/r/Entrepreneur/comments/c73vdv/analysis_paralysis_cant_seem_to_focus/ After a few weeks on holiday, i'm feeling much more with it, focused and am pumped up to start a new business, but this time, do it properly and use everything I learnt from last time. Here's the part i'm stuck on though: My previous business was a website design & SEO agency essentially. I built and ranked website for hundreds of clients around the world, from scientists to retail stores to affiliates in a variety of niches. Most of the clients I worked with had basically the same experience in the field that I did, so I basically learnt their field and expanded their site into it. Needless to say, the one thing I learnt is that anybody can make money doing anything online regardless of passion or expertise (but they certainly help in terms of quality). I've never really had passions or interests in my life to be honest, so i'm really unsure what to do when my options are 'anything'. Do you have any suggestions on how to round this down/ where I can find some ideas? I'm looking to really build something high quality. [link] [comments]  |
| Bringing a Food Product to Market Posted: 07 Oct 2019 01:34 PM PDT Hi entrepreneurs, I am in the early stages of launching a food company and am very interested in some feedback/advice on how to best test the market before we launch. Of course, we do not want to spend (for example) 9 months and $100k to launch a food product just to find out it's not well-liked and doesn't sell. This is new for me - so I welcome anyone to share their story about how they tested their products to confirm there was, in fact, a product-market fit. Thanks very much! [link] [comments]  |
| Thinking about selling my own home made food products, does anyone have experience with this? Posted: 07 Oct 2019 07:36 AM PDT I have a great full time job and make good money. But I've always had a passion for cooking and want to try and sell some of my home made speciality products. Only problem is I don't know where to start in terms of legality ie- getting nutriton facts , do I need to be FDA approved ? Etc Does anyone have experience with this ? [link] [comments]  |
| 10% equity and 10% of the profits for a $10,000 investment too much? Posted: 07 Oct 2019 01:11 PM PDT A friend of mine told me an angel investor came to him wanting to invest $2k for a 100% return. He changed the offer to $10k for 10% equity and 10% profits and he accepted. Its a health and wellness company. I understand that there isn't much info to gauge properly, but the company is in its infancy stages, is promising and has very deep foundations that will allow it to go very far. I don't know much about this area, but curious to know if that is too much to give of the company for that amount of money in a general sense. [link] [comments]  |
| Advice on starting a clothing line Posted: 07 Oct 2019 01:10 PM PDT I am in the process of starting a clothing line with a relative. The idea stems from the fact that she is not able to find quality clothes that match her taste. So our target market is ourselves and the bet is that if we make something we love, there will be others out there that love it too. What advice can you offer in terms of either things we need to consider, issues/risks to avoid/mitigate and critique of our assumptions? Thanks! [link] [comments]  |
| Posted: 07 Oct 2019 01:05 PM PDT I have the opportunity to potentially transition into becoming the owner of a business. The person is planning on retiring and has reached out to me as a potential successor. It's in my field, and it's something that I'm very familiar with, however, I've only worked as part of a business before, never as an owner or as a president. With this, I'd be taking on the billing and scheduling (which I'm decently comfortable with), but also dealing with taxes, leases, contracts, finding insurance for staff, profits, etc. The business has no debt, has a steady source of income at this time, and a regular base of clients. [link] [comments]  |
| (buying Catalytic Converter ) concept question ? Posted: 07 Oct 2019 12:57 PM PDT Hey Guys I see alot of people in my area buying catalytic converters from cars in my area , they buy them for $60-$70 for a pair i know that it contains some precious metals like platinum and im aware that in 2020 there wont be a need for them as the government is going away from smog stations and wont be as regulating as in the last 50 years my question is what do they do with the cat converters? are they reselling them or are they recycling themselves or what exactly ? thanks in advance [link] [comments]  |
| Motivated but nothing to work for Posted: 06 Oct 2019 11:21 PM PDT I'm angry I don't know who am am I angry at but I'm very pissed. It's 2am and most likely no one is going to read this but fuck it. If no one reads this I'll just have to delete it. Here's an example of how I feel. I have a car, it's full of gas and it's in perfect condition, the only problem is where do I go? I have no destination. I'm motivated to do what I have to do but I'm lost. I don't know what to do or how to start grinding. Yes I can get motivated but for what? What is the plan? Give me fucking examples!!! I'm an 18 year old kid and it's hard to find a job when you barely have work experience and I'm too dumb to do gigs. I just don't know. I'm depressed and losing hope, I don't even have my diploma yet and school is too much stress for me. Business is better when you network but I have trouble socializing, maybe life is just not for me. I just want to make money and be happy but instead I'm on reddit getting my feelings hurt by strangers cause I'm too sensitive. [link] [comments]  |
| Looking to open an online business, possibly in Consulting, is the online market oversaturated? Posted: 07 Oct 2019 12:39 PM PDT |
| Posted: 07 Oct 2019 12:12 PM PDT Hi everyone! Just wanted to ask some quick questions for my marketing class (new product development). Yes or no responses are fine and you can also voice why you may be interested if you would like. Thank you!
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| Posted: 07 Oct 2019 12:11 PM PDT This seems like a simple and obvious issue, but I'm having a hard time finding an answer. Like almost everyone, I pay my employees on a bi-weekly basis. Let's say every 2nd Friday I have a payroll and related expenses of $50k. I record these expenses on the day that the payroll gets paid i.e. every 2nd Friday. The problem this creates for me is that some months, I have 2 pay periods, other months I might have 3 pay periods. I might have a pay going out on the 1st of a month i.e. the pay is for August, but gets recorded as an expense for September. What is the best way to get around this ? [link] [comments]  |
| Underpaid estimated taxes - best investment to avoid penalties? Posted: 07 Oct 2019 11:56 AM PDT For entrepreneurs who underestimated 2019 income for the year and underpaid estimated taxes throughout the year, what are the best ways to invest that excess money before year-end and avoid late tax penalties? Max out a 401(k) plus an HSA? Pay themselves bonuses on paychecks for the rest of the year so it's taxed as payroll and wipes out excess business income? They're s-Corp members who work for the s-Corp and pay themselves a minimum reasonable wage. I know payroll for an s-Corp member is taxed at a higher rate so was looking into other options. I don't know much about 401(k)s and HSAs if someone could point me in the right direction. Thank you for any advice. [link] [comments]  |
| Urgent: How should I ask a massively successful entrepreneur for help? Posted: 07 Oct 2019 11:46 AM PDT I'm meeting with a massively successful ($500m+) CEO and entrepreneur next week to discuss my startup. He's a nice guy, supposedly, and I'd love his help managing or funding my early stage company. I'm worried, though, that he'll offer basic feedback. While that would definitely be much appreciated, I'm hoping for a small, initial investment to help me get off the ground, or some kind or partnership. How do I tactly ask for more than basic feedback? [link] [comments]  |
| Can you transfer over a DBA to new owner? Posted: 07 Oct 2019 11:39 AM PDT I'm purchasing a business from an existing owner. What's the general process to get the DBA that already he's set up and using into my possession when I take ownership of the business? I'm assuming if I apply for a DBA with the same name, that application will get rejected since the DBA is currently being used. [link] [comments]  |
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