Wantrepreneur Wednesday! - (October 09, 2019) Entrepreneur |
- Wantrepreneur Wednesday! - (October 09, 2019)
- I can't in good conscious have my manufacturing done in China anymore. What are my other options and how do I find suppliers? Is there an Alibaba for the US?
- Is anyone else worried about the ADA applying to online content?
- Timing is everything. Dont be fooled.
- Say thank you to somebody today
- $50k to invest without restrictions
- Test
- The easiest way to grow on Instagram (October 2019)
- How to estimate the revenue, downloads and audience of a competitor’s app?
- Lead Generation Niches?
- Help! I need honest, constructive criticism for my website from anyone willing! I would really appreciate anyone who was open to taking some time out of their day to check out my website and give me some constructive criticism and suggest what I could improve on. www.NoStopHeadShop.com
- Scott's Cheap Flights just went USA only with no deals for flights departing from airports internationally, anyone know why?
- Can someone recommend an honest focus group company/service for an online business?
- Millennials love indoor vegetables gardens?
- How do you analyze demand as a frugal person?
- Buying a business out of college
- Tips for getting ads approved on FB?
- Any examples of startup companies or small business that work with water treatment or designing water systems for other small businesses?
- Interviews / Discussions with former Investment Bankers, Accountants, Asset Managers, etc. who have left finance
- Could anyone offer some advice or link me to a resource that would help me create a presentation (either powerpoint, video, demo site, written documents) that could show potential investors?
- I'll create an admin panel for you for free
- [Advertising] Entrepreneurs Remember This: The people you address are selfish, as we all are...
- Study finds most successful startup founders are 45 -- but VCs still gravitate to younger founders
- Would anyone be interested in these tools for free?
- Rate my idea: a website that lets you submit an argument based on premises. People rate the strength of your argument and this determines its rating. Only catch is, each premises must be a previously submitted argument and each of their strengths plays a factor in the final arguments strength.
| Wantrepreneur Wednesday! - (October 09, 2019) Posted: 09 Oct 2019 06:09 AM PDT Please use this thread to ask questions if you're new or even if you haven't started a business yet. Remember to search the sub first - the answers you need may be right at your fingertips. Since this thread can fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| Posted: 09 Oct 2019 01:23 AM PDT Edit: Conscience* l primarily am looking for injection molded plastics and rubber of a custom design. When I first started looking I talked to a few places in the US and only could get quotes that were an order of magnitude higher and lower quality. Any advice on how to find other potential suppliers? [link] [comments]  |
| Is anyone else worried about the ADA applying to online content? Posted: 09 Oct 2019 12:20 PM PDT I run a few small e-commerce stores and I'm quite worried after seeing the news: https://www.techspot.com/news/82239-blind-man-sues-domino-pizza-over-website-accessibility.html Depending on how the case proceeds, I could definitely see some patent-troll esque lawyers combing through Shopify/WordPress stores, mine included. Thoughts?? [link] [comments]  |
| Timing is everything. Dont be fooled. Posted: 09 Oct 2019 12:19 PM PDT If you are here for business ideas and are listening to business owners talk about making millions from CBD, Dropshipping, Storage Companies, Multi-Family Units Real Estate, Social Media agency and think this is what you should do, then you are wrong. You'll find a lot of business podcasts and/or hype talk on Reddit with business owners 'who are crushing it' due to hard work, smarts and perseverance. That is highly unlikely the full picture. It's likely they grew because of one major factor... A fast growing market. They were on a wave. So if they say they made a shit-ton of cash in real estate, you'll likely hear that they started in 2008. Or if they have a storage facility company they will have started in early, in 2011. Or maybe the got into Amazon FBA in 2013/14 and now are worth millions. Or selling CBD in 2012/2013. Your job as entrepreneur is not to listen to people who made in a space and enter the same space. But to understand some of their tactics and find your own fast growing space. So to make sure you are actually on to a good idea new fast growing market I use the following: 1) market/customer base must be growing at least 10% per year, ideally 20-30% 2) There are not many leaders in your segment or one know brand name yet, so you can be position 1 or 2 Bonus: 3) you can leverage a new and cheap customer acquisition channel (FB ads in 2010-2016, Instagram in 2012-2015) Dont follow what others are doing. That's why people who do Tai Lopez dont succeed. Nothing to do with them not doing hard work but you are just a following a trend that has already passed (airbnb/social media agency/ICOs). Be early solving new problems. It's that simple. [link] [comments]  |
| Say thank you to somebody today Posted: 09 Oct 2019 12:10 PM PDT My grandfather is 86. He was an entrepreneur and a big influence on my life. His hard work really set the trajectory of my family. After he gave me a wedding gift in 2016 I wrote a very thoughtful handwritten letter to him. Basically thanking him for all of his hard work and sacrifice over the years. And how I'm an entrepreneur today because of him. In early 2019 I found that thank you note that I wrote to him in his TV guide next to his favorite chair. It was worn and crumpled and I could tell that he looked at it often. I lost it with emotions. It was emotional to learn what a difference sincere appreciation can make on someone else. Not enough people show sincere appreciation in this world. Write a thank you note to somebody today whoo has influenced you along your entrepreneurial journey. It matters. [link] [comments]  |
| $50k to invest without restrictions Posted: 09 Oct 2019 01:43 PM PDT You have $50k to invest, that you can spare to lose and not have to pay back. You want to start a business with it that can generate income replacement type cash flow ( so not talking IRA long term type investment). What type of business do you start and why? [link] [comments]  |
| Posted: 09 Oct 2019 01:08 PM PDT Sorry, this is a test to see if I have enough karma to post questions [link] [comments]  |
| The easiest way to grow on Instagram (October 2019) Posted: 09 Oct 2019 12:23 PM PDT This might sound a little ridiculous, but right now, the easiest way to grow on Instagram is by reposting memes. Memes are crazy popular and people often times end up DMing them to friends which leads to your account getting more exposure. If done with some degree of consistency, you should start seeing a steady up-tick in followers. Here are some examples of brands that are reposting memes:
Obviously you should not just post any meme - they should somehow relate to your brand. To find the right memes search hashtags on Instagram and use Google Image search. Twitter is a goldmine of memes but they can be hard to discover. Using the Twitter API I threw together a little site that should make finding memes on twitter a bit easier... I called it FindGoodTweets.com Hope this helps! [link] [comments]  |
| How to estimate the revenue, downloads and audience of a competitor’s app? Posted: 09 Oct 2019 08:54 AM PDT All of us are curious about how many downloads a competitor's app has, how it acquires users, how much audience it has, and, of course, how much it earns. Finding out about the performance of a competitor's app is both useful and interesting. Today I will talk about the tools that will help you do this. As a bonus, at the end of the article, we will verify if Telegram's MAU is actually 200M active users as it claims. Estimating the downloads and revenue of a competitor's appSensor Tower, a popular mobile app intelligence platform, has a premium product called Store Intelligence. Just like a similar product from App Annie, it is a paid (and pretty expensive) service. However, Sensor Tower also has a limited free version, which in most cases is enough to help you answer some basic questions. With the help of Sensor Tower, you can find out the number of downloads of any app for the previous month. According to this link, for example, we can find out that in July 2019, Telegram was downloaded 3M times on iOS devices. And this link shows the same app had 10M downloads on Android devices in the same period. Make sure to keep these numbers in mind; we will use them a little later. Sensor Tower also allows you to measure an app's revenue from its in-app purchases. Let's take a look at FaceApp, which has topped App Store's charts in most countries lately. One issue worth noting is that services like Sensor Tower and App Annie often have difficulties estimating the revenue and downloads of high-ranking apps. These services evaluate downloads and revenue based on the app's position in the store's charts. It is difficult to predict the number of downloads for an app occupying the 1st place, since it is not limited by the known numbers about the preceding and following apps (well, except for the number of devices, but this doesn't always help). Sensor Tower shows 49M downloads for FaceApp in July. In June, the number was 14M downloads. In past weeks, FaceApp has amassed more downloads than all of 2019. According to my observations and experience, this tool is quite accurate. On almost all the projects where I had direct access to app data and could compare actual performance with the estimates provided by Sensor Tower, the numbers looked similar. Using this tool, you can estimate the number of downloads and the revenue of your competitors' apps quite accurately. If you want, you can do the same with your friends' apps, too. As a reminder, you can also get the estimate total number of an app's downloads on its page in Google Play. Estimating the audience of a competitor's appAssessing the audience of a competitor's app is not an easy task. Years ago, there was a service called Onavo Insights, which evaluated app audiences in the US. But after Facebook acquired the company, the service was shut down and made available exclusively to Facebook employees, who use it to identify the apps that are growing fast and might be potential candidates for acquisition. Prior to its acquisition, Onavo had developed a mobile VPN app that compressed and encrypted internet traffic and ran it through the company's proxy servers. Users could install the app to save on their metered data plans. At the same time, the company used its service to track app usage and sold this analytics to other developers. App Annie, Prioridata and Apptopia provide similar services, but they are not free. I only know one free method to find out the audience numbers of mobile apps, but you should use it very carefully. Unfortunately, there is no information about how Facebook collects this data, or whether it is trustworthy (if you have information in this regard, please share with us in the comments section). In most cases, these numbers look quite reasonable and give you a rough idea of the app's audience. But I think the quality of estimates depends a lot on how Facebook's SDK is integrated in each app. Evaluating traffic sources for a competitor's mobile appWhere do your competitors get their downloads from? This is a very interesting question. Answering it will give some good ideas on how you can increase your app's traffic. SimilarWeb provides some answers. Using this service, you can get an approximate idea of how people find the app you are interested in, whether through search engines, app store charts, featured apps or some other store mechanics. Another interesting feature of the service is to look at what keywords lead users to the app's page. You probably won't find any revelations there, but sometimes it can be very useful. Unfortunately, SimilarWeb provides data only for Android apps. However, in most cases, it will be enough to get a decent sense of how the app is getting new users. Where do competitors acquire traffic for their apps?This question should probably be of interest to those who promote their apps using advertising networks. Finding new traffic sources and witty approaches for popular ad networks is the only way to survive in a super competitive mobile market with limited traffic sources. If you are interested in whether an app engages in paid acquisition or not, you can use Ad Intelligence by Sensor Tower. Ad Intelligence is a paid service, but you can obtain some limited information for free on the app's page. It can help you find out which apps use which ad networks tracked by Sensor Tower. Here are a few examples of things you will find in Ad Intelligence:
There are a few more services that allow you to track competitors' advertising activities:
ASO (App Store Search Optimization) and tracking a competitor's appFor many apps, the main source of traffic are app stores. People find apps using search, recommendation mechanisms, featuring, etc. The following services will help you find out the ranking keywords for each app and how they change over time. The services will also help with things like which apps top the charts, featuring in app stores, and the search result positions of your own and your competitors' apps: More useful tools to explore your competitor apps:
What is the value of finding and studying app metrics of competitors?I really like studying the numbers behind different apps. First, it's amusing. You find data that everyone usually tries to conceal. Second, it is a very good tool to estimate the approximate size of the market segment you are interested in and understand whether there is a way to enter this market. Third, such an analysis often allows you to find a lot of invisible insights behind a product's success. Sometimes, the products are similar in terms of downloads and audience, but their revenue is drastically different. It's a good starting point to conduct a deeper investigation of their monetization strategies. Say you see a sudden growth in the downloads and revenue of a competitor app. Analyzing metrics will help you better understand what they changed and how they achieved the sudden growth. After reading this article, I suggest you spend a few hours to explore your competitors' apps using the services that I covered in this article. I am sure you will find a lot of things worth investigating. Did Telegram have 200M MAU in March 2018?I really like Telegram as a product. I've been using it regularly for quite a long time. In March 2018, Telegram announced it had 200M monthly active users (MAU).The news spread like wildfire across all the first-tier mass media. Let's check if Telegram's monthly active audience is actually 200M users. Considering the data released in September 2015 was true, then Telegram must have increased its monthly audience by 140 million active users in 2.5 years. Based on the data provided by https://datamagic.rocks (a tool that estimates downloads and revenue for apps), Telegram was downloaded ~140 million times worldwide between September 2015 and March 2018. If we assume that Telegram has 60% long-term monthly retention, then these 140 million downloads would convert into 84 million monthly active users. Assuming that none of 60 million users Telegram had in September 2015 churned over the next 2.5 years, then Telegram's MAU would be 144M. However, we have missed one important thing. Telegram is big in Iran. It's one of the most popular apps there. But Datarocks doesn't estimate downloads for this country, so it underestimates Telegram downloads in this case. According to Wikipedia, Telegram has 50 million users in Iran. It is not clear if it is overall number of downloads or registered users or active users. It's more likely that it is the total number of users and not MAU. According to Wikipedia, Iran has a population of 81M and it has ~30M smartphone users. Let's assume that all of them use Telegram. In this case the overall Telegrams MAU as of March 2018 would be 174M in the most optimistic scenario. But more likely, some of Telegram's 60M active users from September 2015 churned and part of the 144M downloads over the next 2.5 years came from existing users who changed their smartphone. Telegram's retention is likely to be worse than average messaging apps as it is not the default messenger in most countries, and not all smartphone users in Iran use the app every month. So most likely Telegram's MAU was significantly lower than 200M in March 2018. As you can see, looking at the data will help you fill in the blanks and read between the lines. [link] [comments]  |
| Posted: 09 Oct 2019 02:43 PM PDT Hi, My company offers businesses leads. So far we have been successful in providing leads to a few digital marketing agencies. Wanted to get people's opinions of what other niches could use lead generation services? Thanks [link] [comments]  |
| Posted: 09 Oct 2019 02:36 PM PDT I started my website about 5 months ago and have unfortunately really been struggling with making and converting sales... I pay for a Shopify subscription to run the website and it is a dropshipping website, just for some context. I have a handful of customer emails and people make it to the checkout screen often.. But, some reason I cannot convert those visits into a sale.. I am not sure if the design/products on the website are deterring people, or if it is the taxes/shipping that is doing the job but it really sucks. I know we have tarrifs on Chinese products here in America and a lot of my products are from Oberlo which is Chinese based. But I'm not sure what exactly my biggest issues are looking at it from my perspective. To anyone who take the time out of their day to check it out and give me some feedback, thank you truly. Having a full time job and running a website on the side is not easy and any help I can get I am truly grateful for! Thanks, Michael. [link] [comments]  |
| Posted: 09 Oct 2019 02:35 PM PDT Really liked the deals, this came out of no where. Got a refund a few hours ago automatically. Maybe I missed a tweet or blog post? [link] [comments]  |
| Can someone recommend an honest focus group company/service for an online business? Posted: 09 Oct 2019 10:24 AM PDT I'm looking to get some feedback for certain use-cases on my website. Ideally, it would be a professional focus group company that can get me detailed opinions of various people. Something like: "go to this address, sign up for this thing here, and then document whatever you think sticks out as inconvenient/lame/obstructing/distracting/etc." The problem with hiring someone on upwork to do it is 99% it will be a lie. They will tell you about 100 people they had tried it and send you the feedback. But it will most likely be not true. Fake users doing fake reviews. On the other end of the spectrum are large market research companies that offer focus groups among other services. But those guys usually aim at large customers, like Fortune 500. So their budgets start with tens of thousands of dollars. Is there any honest and affordable service that offers focus groups for on-line businesses? [link] [comments]  |
| Millennials love indoor vegetables gardens? Posted: 09 Oct 2019 12:17 PM PDT My younger brother in-law is moving to Canada where it gets super cold in the winters and hot in the summers. He wants to start a business where you can grow veggies all year round inside your home. Here's his concept: https://oasis462323944.wordpress.com/ I'm not quite sure about this but he seems to think this is a hit with Millennials and I'm a bit old school. What do you guys think? [link] [comments]  |
| How do you analyze demand as a frugal person? Posted: 09 Oct 2019 11:37 AM PDT I am almost innately a very frugal person. My impulse to buy everything seems to be much lower than most people and I feel like this can be a disadvantage towards being an entrepreneur. It becomes hard to see value in product ideas when I assign little value to every product around me. You could say that at the root of being a successful entrepreneur is being able to discover and analyze problems, but how do you do this when you seem to have little problems with the fiscal world? Would love to hear your guy's thoughts on this subject. [link] [comments]  |
| Buying a business out of college Posted: 09 Oct 2019 11:37 AM PDT Hello, I am currently a finance student graduating next year and I have had this idea for a while and I would like to have your opinion. I absolutely love analyzing stocks (mostly quantitatively) and understand what makes a good/bad company. I believe financial markets are quite efficient. One market that I believe is not efficient is private small businesses worth less than $1mm. So I started researching businesses for sale and it actually seems too good to be true. A lot of businesses are sold at 3x or 4x its cash flow and based on my calculations and the prices of a few small businesses, I could generate a 50-70% ROI with a Leveraged buyout. For example, I saw a company with a $100,000 cash flow selling for $350,000. If I could put 35% down and take a 10 years loan at a 6% rate, I would have a ROI of 56%. Are my calculations realistic or am I missing something? It's also worth noting that my father is the CEO of a medium-sized company, so I could get help managing the business and might even put some money down. I believe it would make banks more comfortable lending me money. Thank you [link] [comments]  |
| Tips for getting ads approved on FB? Posted: 09 Oct 2019 11:33 AM PDT Hey, i'm trying to get some traffic to my website for my multitool i'll launch on Kickstarter, but now facebook has classified my product as a weapon and reject my ads. The main function of the tool is a screwdriver / bitset however it has an utility knife too, but even if the ads don't show the knife it still gets rejected. I've never encountered this before, and it's kinda ruining my plan to launch in November. Any idea on what i can do/change to get approved? [link] [comments]  |
| Posted: 09 Oct 2019 11:14 AM PDT Hello! I have always been interested in directing my career towards the water industry, but all the while figuring out a way to make my own business in the future. I have always been fascinated by people that make their own small businesses with a simple idea or process where they become a niche expert. For example, I have heard a story of someone that designed fire sprinkler system for restaurants in his hometown. He has a team of about 4 or 5 people and is easily making well over six figures. Are there any examples of startup companies that work with either water treatment or other type of water supply systems? Have you heard of any small businesses that work in the water industry? I am curious to see what is out there. Thanks! [link] [comments]  |
| Posted: 09 Oct 2019 11:12 AM PDT Investment Bankers, Accountants, Asset Manager, etc. of r/Entrepreneur - would interviews with former professionals in your field who have left the industry for unique roles (entrepreneurship, tech, arts, etc, etc) be something of interest to you? I am currently compiling interviews with former finance professionals who have left to start companies, work in technology, pursue artistic and otherwise unique and interesting roles outside of finance; is this something (either text or audio) that you would be interested in? Thanks in advance! [link] [comments]  |
| Posted: 09 Oct 2019 10:59 AM PDT I don't need advice on how to actually create a site, or a presentation, I'm referring to help with what should be in the presentation itself. I have a rough idea of what I'd need to see in such a presentation but I'm also a novice at this and thought I'd reach out and see if anyone could shed some light. The potential 'investors' are just various family members and friends so close they might as well be family, but I want to take it seriously still. Thanks so much for reading. [link] [comments]  |
| I'll create an admin panel for you for free Posted: 09 Oct 2019 10:48 AM PDT Happy to listen to what sort of tools you need for your internal admin portal, and then then build it for you. You can use this admin portal to change things on your app or website without needing an engineer. These functions could include deleting users, sending promo codes, cancelling orders, and more. PMs are open, thanks [link] [comments]  |
| [Advertising] Entrepreneurs Remember This: The people you address are selfish, as we all are... Posted: 09 Oct 2019 10:36 AM PDT Nobody cares about your interests or profits. They want service, GOOD service, for themselves. Never ignore this fact when making a sale or an advertisement. Don't ask people to buy your product, offer them the information they desire. Tell your target the advantages to him/her. Offer them a sample even. Essentially, give first. Humans naturally want to reciprocate. "You gave me x so I will give you y." Because they feel indebted. When you make something feel salesy you are essentially allowing them to see right through your guise. You need these folks to walk themselves into a purchase. Here's an example of this from Scientific Advertising: "A brush maker has some 2,000 canvassers who sell brushes from house to house. He is enormously successful in a line which would seem very difficult. And it would be for his men if they asked the housewives to buy. But they don't. They go to the door and say, "I was sent here to give you a brush. I have samples here and I want you to take your choice." The housewife is all smiles and attention. In picking out one brush she sees several she wants. She is also anxious to reciprocate the gift. So the salesman gets an order." Remember whatever people do, they do to please themselves. So many mistakes would not be made if people remembered this simple fact, and what's even more amazing to me; In my travels, I have seen plenty of street dealers use these common principles of salesmanship while multi-million-dollar marketing campaigns have totally forgotten them and blown a boatload of money. [link] [comments]  |
| Study finds most successful startup founders are 45 -- but VCs still gravitate to younger founders Posted: 09 Oct 2019 06:38 AM PDT Does this suggest that an older founder should partner with a younger one for the best chance of success AND VC money? http://blog.escalon.services/heres-the-age-youre-most-likely-to-gain-startup-success [link] [comments]  |
| Would anyone be interested in these tools for free? Posted: 09 Oct 2019 10:12 AM PDT Hi everyone, I'm a web developer and over the past year, I've created two tools as a side project that should help website owners to improve the conversion rates of their websites. However, I never really released them to the public due to lack of time for marketing and customer support. So I just thought about releasing them for free now and would like to hear your thoughts about them and if you'd actually use them. Both of them can be managed in a web app and are fairly easy to integrate. So the first tool is an exit-intent popup. It basically is a popup that shows up as soon as the visitor's cursor leaves the window (so when he is about to leave the site). It lets you get the visitor's attention back and promote a unique offer (e.g. a 10% discount) for not leaving your site. The second tool lets you create "shoppable images" for your website or blog, just like you can find them on Instagram (see https://www.plannthat.com/create-shoppable-instagram-images/). You upload an image, place tags that you link to the products pages and then you can insert the picture anywhere on the web where you can insert custom HTML code. What do you think about these two tools? Is there some demand or am I wasting my time if I upload them now? [link] [comments]  |
| Posted: 09 Oct 2019 02:34 AM PDT |
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