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    Monday, January 27, 2020

    NooB Monday! - (January 27, 2020) Entrepreneur

    NooB Monday! - (January 27, 2020) Entrepreneur


    NooB Monday! - (January 27, 2020)

    Posted: 27 Jan 2020 05:12 AM PST

    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.

    submitted by /u/AutoModerator
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    Every other person on this sub

    Posted: 27 Jan 2020 08:06 AM PST

    How to get started with small scale plastics manufacturing?

    Posted: 27 Jan 2020 08:34 AM PST

    Hi!

    I have an idea for a small plastic toy I'd like to take to market. I've built dozens of prototypes on a 3D printer with positive reception. It seems like the next step is to start manufacturing small batches.

    However I don't know how to proceed. I've been learning about injection plastics and all the resources seem geared towards large scale manufacturing. How does a little guy get started?

    Thanks for any pointers!

    submitted by /u/taiboku
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    How do yall not go in waves?

    Posted: 27 Jan 2020 10:15 AM PST

    Happens almost all the time. I get extremely motivated and work during all the free time I have, then I have a week where it's hard for me to do the simplest tasks. How do I keep a constant workacholic mood? And no, I dont really want to accept the method of just not working as hard as I can during my good weeks, so I don't feel so "burned out" later. There has to be another way, to work hard constantly. Should I just force myself for a month or two so it becomes more natural and normal?

    submitted by /u/TheMillionDollarKid
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    How to Monetize a podcast?

    Posted: 27 Jan 2020 11:41 AM PST

    I just started a podcast two and a half weeks ago and already have almost 2500 downloads. I am wondering how to monetize this and make some spare $$ off of it. My podcast is called The Public Opinion Podcast. Give it a listen if you need to get motivated or just want to laugh!

    submitted by /u/GrantNFLFan
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    Websites that seamlessly blend content and commerce

    Posted: 27 Jan 2020 10:36 AM PST

    Hey everyone, as I build out the layout for my website redesign I'd love to know if you UX or design guys have any great examples of a well done blend between engaging content (articles, video, images) and commerce. I really want to play with blending that line as much as possible.

    submitted by /u/organicfreerangetim
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    What to do after your prospect says that he received your package and found your marketing campaign excellent ?

    Posted: 27 Jan 2020 12:46 PM PST

    Hi I have an event planning company and I send my portfolio to my clients via courier.

    They received everything and last week so I decided to message them on LinkedIn first (and add them), before calling the HQ so that they can see my face and name first. (Don't know if it's a good strategy but I'm a beginner).

    One of them replied to my message when I asked if he showed my work to his colleague and he said they found it excellent.

    I sent it my stuff to organise a summer garden party for his company.

    I don't want to push things si I'm wondering what to do next.

    If he had a party planned, he would have asked for a quote no ? What shall I reply to him after his "it was excellent "?

    I don't get paid with compliments on the campaign lol. The contracts need to be signed.

    submitted by /u/illusion_believe
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    Ecommerce returns: how do you handle them?

    Posted: 27 Jan 2020 12:34 PM PST

    I run an online ecommerce brand. We offer free shipping and we were offering free returns until I realized how much people tend to abuse this. I've had several people order 5+ products for $300+ then return the entire order, which ends up costing us $50+ in shipping. Also, we state that we only accept returns on unused products, yet people return used products frequently that can't go back into our inventory. I've started charging for the shipping on returns, but am wondering how other small brands handle this.

    The big problem is, the people requesting returns are often the rudest, loudest customers we get, who will leave as many bad reviews as they can if we don't do exactly what they demand, which is tricky as we are still somewhat small and our happy customers leave reviews way less frequently than angry customers.

    I'm just wondering how other people here handle their returns. I've been considering putting a cap on orders that we will accept as returns. For example, no returns accepted on orders over $100. Our products are $40, if you're not sure whether or not you'll keep them, then don't order 3+ items. This seems fair to me. How do you guys handle returns for your brands?

    submitted by /u/401kLover
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    Whats a good entrepreneur book to have a basic lo knowledge and understating of entrepreneurship?

    Posted: 27 Jan 2020 11:57 AM PST

    Is there any books that helps me understand the basics?

    submitted by /u/XVll-L
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    Should I remove free listings and go $1? - Pricing Strategy

    Posted: 27 Jan 2020 11:55 AM PST

    I am really struggling to figure out a decent pricing strategy for my classifieds listing platform. In a nutshell we are a craigslist for students trying to sell their housing contracts early. It's an untapped market, and our target demographic is 18-25 year old students. Originally we were offering free listings and $10 paid listings. With the free listings being limited on everything and only providing 10 days. While the premium provided 30 days and a plethora of enhancements such as onsite chat, search priority, etc. Below are key facts and info, I could really use some input on this... I don't know what to do.

    -Less than 5% of users pay for premium

    -Our goal right now is to grow our userbase as fast as possible

    - Our users are losing hundreds if they don't sell their contracts

    -Ideally we want to bring in revenue from ads/other avenues

    Has anyone changed from free to $1? Im trying to figure out if this has ever been a viable strategy....

    submitted by /u/denzeler27
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    Algorithm for Entrepreneur's Buying Software-as-a-Service

    Posted: 27 Jan 2020 01:54 PM PST

    For nearly every need you have, there are at-least 3 software-as-a-service platforms that offer a solution. This is a algorithm I'm developing for other founders:

    1. Click on Website from Google
    2. Find Pricing Section
      1. No Pricing Section --> Click Back Button
      2. Pricing Section Shown but equals 3 months of total burn -->Click Back Button
      3. Pricing Sections Has "Contact Us" where prices should be --> Click Back Button
      4. Pricing Possibly Within Your Budget --> Go to next step
    3. Check Features Section
      1. Can't Understand What the Product Actually Does --> Click Back Button
      2. Product description clear, but doesn't match what you need --> Click Back Button
      3. Product Matches What you Need --> Go to Next Step
    4. Choose Between Free Trial or Promotion for 50% Off a Paid Plan
      1. No Free Trial -> Click Back Button
      2. Free Trial Available -> Go To Next Step
    5. Use 14 day Free Trial
      1. Doesn't Work - > Cancel
      2. Does Work -> Go to Next Step
    6. Choose Monthly or Annual Subscription with 20% discount
      1. Choose Monthly Subscription -> Go To Next Step
    7. Choose the Small, Medium, or Large Package
      1. Choose the Small Package
    8. (Optional) Upgrade to Medium Package after Month 1
    submitted by /u/openfreelance
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    Where can I get those????

    Posted: 27 Jan 2020 01:48 PM PST

    Recently, my Instagram has been full with ads from multiple dropshipping stores containing these items (https://imgur.com/gallery/quVWmgj) - hoodies, sweatshirts...

    Where do they get those? Aliexpress, eBay, other suppliers?

    I've seen like 10 stores selling those items so I'm pretty sure they're dropshipping those.

    Please help

    submitted by /u/wheretfamilmfao
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    Advice for the introverted entrepreneur.

    Posted: 27 Jan 2020 01:32 PM PST

    Warren Buffett.

    Bill Gates.

    Larry Page.

    Mark Zuckerberg.

    These are all classic examples of self-described introvert entrepreneurs who've done exceptionally well for themselves, despite being generally low-key and reserved.

    So what's the secret to their success?

    Someone at an event once asked Bill Gates how introverts can succeed in a predominantly extroverted world.

    His response was something along the lines of:

    Hire extroverts and learn from them.

    That's exactly what he did with Steve Ballmer, who was Microsoft's CEO at the time.

    His answer perfectly captures something I've noticed among successful entrepreneurs. They all tend to be good at certain essential skills, including self-awareness, relationship building and motivating people.

    Let's break each of these down:

    Self-awareness

    Simply put, this is about knowing what you're good at and what you're not good at. It's about identifying gaps in your skills, knowledge, and competencies, so you can act quickly to either acquire those skills or finding people who can bring that expertise to your team.

    There's nothing inherently wrong with being an introvert.

    But just as with extroverts, there may be certain weaknesses that come with the territory. For example, you may despise sales, shudder at the thought of public speaking or try to avoid confrontation at all costs. These are all things that could hold you back as an entrepreneur, and so you need

    a plan for how to address them.

    Now, that doesn't mean you need to change who you are. Introverts also bring lots of valuable skills to the table.

    However, if you want to succeed as an entrepreneur, you need to be realistic about your motivations, traits, and skills and committed to constant self-improvement in the areas that matter.

    Relationship Building

    There's a misconception that being introverted is the same thing as being socially awkward. It's not. Anyone, even introverts, can learn how to build strong relationships with people who can help them achieve their vision.

    Walt Disney, who I profile in my latest book, was an introvert who could often be difficult to work with. He had a strong vision and pushed his animators hard to help him bring that vision to life. If you didn't appear to be valuable to him, then you weren't interesting to him.

    I'll just say it now. Walt wasn't just an introvert. He could be kind of a jerk.

    But there was a flip side to this.

    Despite his odd ways, he was good at creating strong relationships with people whose help he needed — a skill that every entrepreneur needs to succeed.

    Before he became successful for pioneering the technique of adding sound to animation, his first attempt at starting an animation studio failed miserably. Bankrupt and nearly destitute, Walt decided to move to LA, where his uncle let him sleep in his basement.

    After selling one of his animated shorts to a cartoon distributor for $1,500, he convinced Roy to join him as a partner in a new business.

    Roy had essential skills, like bookkeeping and money management, that Walt clearly lacked. And Walt understood that Roy contributed to the partnership in extremely valuable ways, including raising the money that allowed him to continue innovating and improving his animation techniques.

    Even entrepreneurs like Walt, who aren't particularly great with people, can succeed by creating a tight inner circle of trusted partners who understand their vision and then letting those people deal with everyone else.

    Motivating People

    In his answer to the question about introverts, Bill Gates also mentioned that for a company to be successful, you need to be able to build a team and get them excited about your idea — skills that many extroverts excel at.

    But motivating others to want to help you is a skill that anyone can learn and practice, regardless of whether you identify as an introvert or extrovert.

    It's also crucial to your success because the fact is entrepreneurs who create value-producing companies never work alone. Whether or not they have partners or co-founders, they rely on employees, teammates and sometimes family to help them build their enterprise.

    But how do they get people to sign up for the journey?

    Some leaders motivate with money. Others use fear. These can all work.

    But a special few rely on a classic technique: they make people feel good about themselves in the context of their work. They show genuine interest in what employees care about and create job tasks that make people feel autonomous, masterful and purposeful, not controlled, insecure, and lost.

    It may seem like having a big personality and being a natural "people person" are prerequisites for success as an entrepreneur, but that's not the case. What matters far more is whether you have the right leadership skills — and the good news is that you can learn them.

    Further advice for current and aspiring entrepreneurs!

    submitted by /u/ProfessorJRV
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    The 5 Lessons That Helped Me Become More Productive In My Business...

    Posted: 27 Jan 2020 01:10 PM PST

    Over the last four years I've ran a digital marketing agency, and throughout that time I learned many valuable lessons when it came to being productive and getting my shit done. When you work for yourself, especially from home, your responsibility and self accountability plummets. So I thought I'd pass some knowledge off to you guys, here are the five lessons I learned that increased my daily productivity.

    1. Finding your "why" and purpose - Proper goal setting from lifetime goals, to simple daily actions and easy wins.
    2. Rewiring your reward system - Reducing the amount of instant gratification in your life, hardening your brain for the uncomfortable, and increase delayed gratification.
    3. Optimizing your diet - Having the proper nutrition, proportion, and timing behind the food that you eat.
    4. Having a proper environment - Reducing/distancing the negative while increasing the positive, when it comes to your home, work, and relationships.
    5. Consistency in all of the above - Constantly auditing, analyzing, tweaking, and improving yourself, and treating it as a game.

    Here's a video I think will help you clearly identify these 5 things in your life and improve them:

    https://youtu.be/YMapNv3mQQg

    submitted by /u/Troller97
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    Thinking of quitting a job...AGAIN and need advice

    Posted: 27 Jan 2020 01:10 PM PST

    I'm the sole breadwinner in my family and have been in the information technology space since I started my career in 1998. During that time, I was employed full-time since 2017. During my entire career, I've always had a side hustle. I've always had some kind of business on the side that helped my family's income but was never the main component.

    Doing my own thing has always been a passion of mine. I love building products and writing and just happened to stumble through the business side in my one-man operations.

    Throughout the years, I've managed to build up a sizeable following online, worked with many freelance writing clients, built training courses and more. Luckily, I've managed to accumulate quite a bit of $ in passive income per month and have a few recurring clients still.

    Three years ago, I had saved up 7-8 months living expenses and decided to quit full-time employment due to that success own to build my first actual business. I worked on it for two years and loved it but it ended up failing and not making near enough income to live off of. The nest egg was gone.

    Last month I decided to get another job because our family's accounts were running low in the 1-2 month range. My wife supported me but it was stressful on her. In just a month, I've realized no matter how great the job is (the job and my team now are great), I will never be truly happy working for someone else.

    No matter how much I get paid, no matter how much flexibility and freedom I have, I will never be truly happy. I want a sense of ownership in everything I do. When the fruits of the work I do go to someone else, I can't stand it.

    I'm considering quitting my high-paying, great job again only after one month. If I do, I'm afraid of the feeling of insecurity again. I'm afraid of the constant internal pressure you feel when you're on your own. I'm afraid of the huge swings in income that come with working on my own.

    My question to you, my Reddit friends, is what should I do? Should I suck it up and keep this job for a while building up my nest egg again with side hustles or should I quit now before I get too busy on anything important and continue with the freelance work I'm pursuing full-time again? I work for a consulting company and they haven't found me a client yet so I haven't started on anything so now would be a perfect time to jump ship.

    submitted by /u/adbertram
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    Should I focus on learning more programming and perfecting my craft or learning a skill that will bring me profits faster?

    Posted: 27 Jan 2020 05:23 AM PST

    Hey!

    Im 18 and taking a CS degree in college. So I was thinking about some options to make money and currently i have 2 options. Focus on college, learn moore and more programming, perfect my craft and start making mooney later or just like learn web design, try to balance it out with college and start making money with it.

    Making money with web design is way faster/easier that it is withh programming. You dont even need to learn many things. Just learn hhow to use wordpress/wix or edit html5 themes and thats it.

    What would you recommend?

    submitted by /u/gueinibba
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    Some people are so negative

    Posted: 27 Jan 2020 12:48 PM PST

    My father and one of my work buddies are perfect examples. I'm an entrepreneur, I love to create stuff.

    When I'm excited I love to share what I'm working on and my ideas. When I tell my father about it, the first thing he likes to do is warn me, focusing on what can go wrong instead of what can go right.

    I also have a work buddy who does the same thing.

    Either I'm a shitty communicator or these folks literally can't see the upside in anything, no vision.

    I know I can't change people and shouldn't aim to control people but man it really sucks cause it makes you feel alone, I never really lose belief in myself but it just sucks when you're on a high and some people want to suck you back down.

    submitted by /u/steezeyrich
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    Help Ranking Shopify Products

    Posted: 27 Jan 2020 12:21 PM PST

    Hi all,

    I've been working on an ecommerce store for a little bit, I sell POD tshirts and decals (not POD) with my own artwork on it. I've had a bit of success; I have an active instagram following, and regularly get commission requests and even the occasional wholesale order here and there. I'm fortunate that I have an aptitude for design and a good niche (sub-niche related to cycling) with a really active and passionate audience. I've had numerous people tell me that my designs are much better than what is most prevalent online in search results for ("my niche"+t-shirts".)

    My question is, is there a way to get my items (currently on Shopify) to rank in both organic search result, and SEM results (without paying a boatload of money?) I have a pretty good conversion rate, and really don't have too much trouble selling a few t-shirts and/or decals a day if I hit social media and relevant forums/fb groups hard, but that's very time consuming and also I don't want to over-post in these places since I don't want to get myself banned (and there are a limited # of these groups.) Would love to get this more automated that what it is currently.

    Thank you!

    submitted by /u/ThatDeeGirl
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    Home based business ideas that actually make money, Not ebay, amazone, affiliate marketing, rideshare or anything else related. A actual business?

    Posted: 27 Jan 2020 06:19 AM PST

    Seeking students for a training program

    Posted: 27 Jan 2020 11:56 AM PST

    Hey! I have a new training program coming out that shows experts, coaches, consultants and entrepreneurs in general how to build an online community around their genius. It's powerful to becoming influential powerfully but without being gimmicky or salesy. I'm looking to bring a good amount of folks that are a fit to turn them into success stories before going public with it. What ways can I recruit these folks...it's always a bit tricky as folks who don't invest typically tend to get complacent real quick but I also want people to not worry about investing capital to start because I'm validating at the same time the offer. Any help is appreciated!

    submitted by /u/bluematter
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    Your leadership struggles

    Posted: 27 Jan 2020 10:53 AM PST

    In a previous post I Shared a stritt about 3 Friends who started a business and how hard it was for two of them to fire the third friend.

    Success leaves clues. But so does the lack of success

    What I'm curious about are the problems You face with leadership in your company

    In the comments below please share (or if you're up to it Pm me) what personal challenges you had to face being a leader

    submitted by /u/chriskarm
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    5 months off - what can I build, how can I grow?

    Posted: 27 Jan 2020 10:35 AM PST

    Hello all,

    I'm looking for some advice on what to do with some paid time off. I have 5 months paternity leave coming up and while I may take a trip or 2 near the end of it, after baby has an immune system, I'd love to do something productive to help increase my earnings ability for the long haul. Think of it as an invest of time to gain more money/time for the future.

    What would you do? What should I do? Is there any small business I can start? Or at least build the bones for? I've considered the common stuff, write a book, start a blog, find a manufacturer and sell on Amazon but none of it really seems too promising. While I know nothing is a sure thing, any folks out there with experience of some things that are more sure than others?

    Thanks

    submitted by /u/Eruohtar
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    SBA loan questions

    Posted: 27 Jan 2020 10:23 AM PST

    My wife and I are considering purchasing a business. The business income as it stands can service the loan and provide us with a comfortable living. The loan we would be looking at would be an SBA 7a loan for ~$230,000 (including sba guarantee fees and closing costs) and we would like a 5 year term. I understand these are variable rate loans married to prime. I know prime is 4.75%. I know they can charge me up to 2.25% higher than prime. I understand that the maximum they can charge me is 7% with the current prime rate.

    We have excellent credit, vast experience in the field, and will be putting over 30% down. With these factors taken into consideration could I reasonably expect to do better than 7%? If so how much better?

    Thanks!

    submitted by /u/ImTheHungriest
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    What do you hate about my product?

    Posted: 27 Jan 2020 10:23 AM PST

    I spent the last 3 months working on coco (https://coco.so) and just grew the waitlist to 900 people in 1 week. Just by posting on Twitter (300 followers) and LinkedIn.

    I'd love to hear what you really dislike/ hate about coco.

    submitted by /u/dennissy
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    Printing Companies

    Posted: 27 Jan 2020 10:22 AM PST

    Hey guys, I'm looking for a printing company that can print Posters and Banners with 10+ locations in the US. Preferably all 10+ locations cover all-regions in the US for shipping purposes. I could easily use UPS or FedEx, but I was wondering if any of you have recommendations.

    submitted by /u/KL37
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