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    Thursday, March 26, 2020

    Thank you Thursday! - (March 26, 2020) Entrepreneur

    Thank you Thursday! - (March 26, 2020) Entrepreneur


    Thank you Thursday! - (March 26, 2020)

    Posted: 26 Mar 2020 06:10 AM PDT

    Your opportunity to thank the /r/Entrepreneur community by offering free stuff, contests, discounts, electronic courses, ebooks and the best deals you know of.

    Please consolidate such offers 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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    How I made ~$3000 on eBay by taking a humorous and creative approach about our global situation.

    Posted: 26 Mar 2020 02:05 AM PDT

    1) Sort out blank shirts / Custom shirt shop 2) Get the "Straight Outta Compton" template 3) Replace the "Compton" part for Toilet Paper 4) Voila! Profit!

    300+ shirts sold at ~$25 shipped with $10-12 clean profit after product cost, selling fees and shipping.

    A lot of sellers now copied my idea, lowered the prices and it's saturated af but it was good while it lasted.

    Just a little motivation for you all! It's not about the perfect product or inventing a new product. Just be creative!

    submitted by /u/adazuob
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    Employees don’t think I’m doing enough in light of Coronavirus

    Posted: 26 Mar 2020 06:33 PM PDT

    I own a small business that will be temporarily shutting down tomorrow for the foreseeable future. I currently have 9 employees and one on site manager.

    Because we'll be closing and these people won't have income until we can open back up I wanted to give them extra money/compensation.

    Everyone received a $200 gift card to the local grocery store, a $1,500 after-tax bonus, and I can afford to pay payroll for the next 6 weeks, everyone gets paid between $13.50 - $21.

    Before my manager and I left tonight we had a quick catch up to make sure we're aligned on what needs to be finished before we closed tomorrow. At the end of the meeting he said there's been talk that multiple employees don't think I'm doing enough for them.

    Apparently a couple employees think if I was going to give anything it should've been a $2k bonus and payroll until we open again.

    I thought I was more than fair and I'm not sure what to do here.

    submitted by /u/throwaway___3278
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    Would anyone here be willing to do an Informational Interview?

    Posted: 26 Mar 2020 01:43 PM PDT

    Title says it all. I'm looking for an entrepreneur to interview over FaceTime or Skype for a university assignment. With everyone on lockdown it's been hard to find someone. If you can spare 15-20 min or know of someone who can please message me. It would be much appreciated!

    submitted by /u/tonyGmain
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    Channeling time wasters

    Posted: 26 Mar 2020 01:12 PM PDT

    I spend a considerable amount of time reading and discussing politics, religion, and the news. I used to think being well versed and up to date on these areas was valuable. Now I realize, it is a black hole. Are there ways to channel this knowledge into a product? How can I redirect this fevor for politics into working on my own projects. How can I give up the hold these areas have over my life? I have already given up social media. But I am back on Reddit and YouTube, it is just to easy to get sucked in Any advice appreciated

    submitted by /u/Loud-Association
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    Looking for a digital marketing partner

    Posted: 26 Mar 2020 07:01 PM PDT

    With all this free time on my hands (2-weeks isolation), I thought it would be a great time to get a personal startup up-and-going!

    A known weakness of mine is consistent and strong digital marketing on all my past projects. Is there anyone out there who'd like to team up and drum up a bit of interest while I develop a prototype?

    The project itself is an online platform that will focus on bringing hospitality employers to professionals. The difference is published listings will be made by professionals (looking for work) as opposed to employers creating listings for available positions. This will incite introductions between stronger candidates (professionals) and their potential employers as an employer is more well equipped to find the right candidate for their position than an employee may be (and thus makes the first move to reach out).

    Happy to discuss the idea more with anyone interested!

    submitted by /u/Trustingmeerkat
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    Small Business Strategy to Normalize Revenue During COVID-19

    Posted: 26 Mar 2020 06:30 PM PDT

    Many small businesses are struggling as people aren't buying/able to go out. Would it be crazy for a coffee shop or barber to offer discounts on "future" items (or maybe gift cards) at this time? So, you pay a discounted rate now but don't redeem the product until later?

    submitted by /u/1_0-0_1
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    Making videos on Udemy

    Posted: 26 Mar 2020 06:27 PM PDT

    Hi, I want to start a project creating videos on Udemy. Before I start, I want to know how you usually get people to look at your course page? Does Udemy itself do anything to promote/help content creators at all? Or is it just like Youtube that you are on your own to find ways to attract traffics?

    submitted by /u/usedocker
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    Launched new SaaS one month ago, and the results are in ($900 MRR)

    Posted: 26 Mar 2020 02:38 AM PDT

    So one month ago I've launched a new SaaS. It's an app to create automated email digests on any topic.

    We've got 2500+ signups on launch, in part thanks to a big email lists we've built in ~6 months of private beta, and also via Product Hunt, press coverage (9to5Mac and others) and social shares.

    Users get 21 days of free trial, no credit card required. After the trial ends, you have to upgrade to continue, and you have 2 options:

    • $10/m
    • $8/m with yearly billing (selected by default)

    The results so far

    • 112 paying customers
    • $970 MRR (Stripe calculated)
    • $4k net volume sales
    • $330 lifetime value 😱 *
    • 53% yearly vs monthly licenses
    • 1.1% Conversion trial → paid
    • 80% Activation rate **
    • 18 days median time to conversion
    • ~70k email digests sent so far (vanity metric)

    \ We consider an "activate" user, one that completed our small onboarding and is receiving at least one email digest.*

    \* I feel like this will change a lot, because we're seeing almost no churn now, but it's going to increase in the next few months and Stripe will adjust this calculation accordingly.*

    So, I think these number are super promising, and we're pumped up to work on the app with this kind of first results.

    I also think our weak spot is getting new users though, so as soon as the launch long tail will run off, we'll have to find ways to attract audience.

    I put a facebook pixel in our website since the beta, and it already recorded 70k+ events, so there's probably a big opportunity there (but I'm totally ignorant about this, unfortunately).

    Also, we're creating dedicated landing pages for each source in our app (example), so hopefully these will start ranking soon. We've built them specifically looking at long-tail keywords on AdWords Keyword Planner.

    Finally, for this product we'll try to build big ambitious features that will have their own launches, so we'll try to make this an essential part of our strategy.

    I hope these data points can be helpful to other founders, but I'd love to get some feedback, so please roast my SaaS or tell me if you're spotting mistakes or issues with our model!

    Best of luck to all founders and entrepreneurs out there going through rough times 🙏

    submitted by /u/linuz90
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    The Ultimate Quora Answers Guide | Everything You Need To Drive Traffic To Your Website Or Product

    Posted: 26 Mar 2020 06:14 PM PDT

    What's important to you? (Regarding social lives of Entrepreneurs)

    Posted: 26 Mar 2020 06:01 PM PDT

    Hey everyone! Hope you're all able to find some enjoyment during these very strange times. I'm currently trying to find out how one could make the lives of entrepreneurs a lot easier ;) Does anyone struggle with shyness/creating an social circle of friends?

    If so, I have two very simple questions: 1. As an entrepreneur, what are the 2 biggest issues you're dealing with in regards to shyness/building a social circle? 2. Regarding shyness/building a social circle, what would you wish for more than anything else?

    Thanks so much in advance. Looking forward to reading your answers!

    submitted by /u/SirNerdRomeo
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    Been a professional video creator for about a year: music videos, animation and small biz ads, have a question about strategies in pricing.

    Posted: 25 Mar 2020 10:24 PM PDT

    Right now most of my work is generated through outbound marketing sending leads this link to my reel on vimeo: https://vimeo.com/342825342

    I am in a difficult situation where I have to sell a lot of product since most people don't want to spend much on their videos...However it takes a lot of time to make a quality product. Anyways, I guess I'm asking for any ideas on how you would attack either the top percent of buyers or how to sell large amounts of less expensive, lower quality videos.

    Please communicate to me what your needs are for video or if you've ever considered it and why/why not. Any info will be helpful.

    submitted by /u/Gogoroxboxsox
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    Open Source CRM for Developers Rails + Vue

    Posted: 26 Mar 2020 05:44 PM PDT

    What's up all!

    My buddy and I have always been working on product ideas, and we finally got a decent one after lots of trial and error. Unfortunately, it still requires us SELLING. So we made the sales process as passive aggressive as possible using ringless voicemails (voicemails straight to a persons phone with no ring). Automated email follow-ups (set an email followup for any amount of days, and it will automatically send the email on that day), built in templates. A mini information section for each prospect etc.

    Anyways, long story short we thought developers could really benefit from an open source CRM that developers could tweak for their own.

    Some of the most important features (like automated follow-up) cost money on other systems, and we said screw that.

    If you're interested i'll send you the code. It's a Rails + Nuxt JS App.

    For the non-developers, we will probably have a super cheap hosted option with support someday for like $5/month if we decide to do so.

    submitted by /u/takklz
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    Is making online courses a legitimate way of making full time income online?

    Posted: 26 Mar 2020 05:37 PM PDT

    I have $4000 and I'm ready to invest in an online business. I've read of several ideas and I'm willing to be patient with some investment in time. Some ideas are Blogging, E-Books, Affiliate Links, Dropshipping, Amazon FBA and well the title of the post, Online Courses.

    Here's some questions I have.

    1. Do I need to have an Youtube Channel or Blog to Promote the Courses effectively or is there other ways?
    2. Can Courses turn into a legitimate full time source of income?
    3. Best site for Online Courses? I'm thinking between Udemy, Skillshare, and Teachable but if there's any better reccommend me them.
    submitted by /u/AimedStatistic7
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    Packaged Food Business Entrepreneurs: when you started selling your product how did you package them?

    Posted: 26 Mar 2020 01:43 PM PDT

    I have a product idea that I tested with some people and got positive feedback Now I would like to produce it in a small batch and test it at both online and offline markets. But for that I would need to have a commercial quality and looking packaging including the label.

    The product is basically a dry food product and I think the best packaging would be something similar to small bags of Cheeze-it or single serving crackers.

    Based on your experience, what would be the best way to start?

    Thanks for your time!

    submitted by /u/mayermail1977
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    Wife's business has gone from hero to zero overnight

    Posted: 26 Mar 2020 08:40 AM PDT

    Hey guys,

    Hope you're well.

    My wife's business has completely fallen over thanks to COVID19. She makes wedding cakes, and the wedding industry has been put on hold for the foreseeable future (6+ months).

    Aside from this, we have a delivery van and a big warehouse. Can anyone share ideas on a way to diversify our interests and help her get back on her feet?

    Thanks!

    submitted by /u/panache123
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    How did you find your niche?

    Posted: 26 Mar 2020 11:55 AM PDT

    I frequently come across niches and markets that I had no idea even existed.

    What is your niche, and how did you find out about it?

    How were you able to successfully break into it?

    submitted by /u/Bloderhosen
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    Anyone here subscribes to Quartz magazine?

    Posted: 26 Mar 2020 03:33 PM PDT

    I was thinking about subscribing to Quartz. Although I find Reddit, Medium and other free websites as pretty good resources, I was wondering if Quartz can be one too. Any thoughts?

    submitted by /u/zomboy1111
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    Your Responsibility As An Entrepreneur

    Posted: 25 Mar 2020 11:57 PM PDT

    It's our responsibility as entrepreneurs to NOT allow scarcity and paranoia to determine the trajectory of our business. It is our responsibility to evolve with the change that is coming.

    Every Decade Brings A Radical Shift In Consumer Behavior
    You see, every decade takes you to the next level.

    Life before 2010 was dramatically different than today.

    NOBODY used WhatsApp, there was no Instagram and there was no such thing as "I'll get an Uber home."

    The Nokia N900 was the top phone of 2009. iPhone 3GS was second.

    Airbnb had just raised money for the first time between 2009-2010 and Pinterest what????

    Throughout the last decade, these products have come to define, on a daily basis, the way we communicate, the way we shop, the way we commute. They define our lifestyle.

    From how we stream music on Spotify instead of buying tracks on iTunes, to how SnapChat has defined an entire new generation of mobile-only tech users - the last decade brought about an astounding transformation of humanity.

    Keep in mind, these companies were founded during the worst recession. The 2008-2009 financial crisis threw the global economy into the deepest pitfall.

    This is 2020. The start of a new decade. The COVID-19 novel coronavirus is tipping the global economy into a recession.

    What changes will this decade bring? How will we communicate in the future? How will we shop? How will we commute? How will our lives change?

    How will you be part of that change?

    submitted by /u/whitespadex
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    Unemployment Income benefits for self-employed business/contract workers

    Posted: 25 Mar 2020 08:36 AM PDT

    So the stimulus bill is close to passing and offered some brief details which includes the expansion of unemployment benefits to include self-employed and independent contractors.

    "In an unprecedented move, the stimulus bill expands unemployment protections to gig workers, freelancers and self-employed individuals, who typically don't qualify for unemployment benefits.

    Seth Harris, former Deputy U.S. Secretary of Labor, describes this aspect of the stimulus package as a "gigantic change," but notes that it could be complicated to execute."

    Worth taking a look, even if you don't think you are eligible.

    Source

    submitted by /u/MAGICBUM
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    How to be good at sales

    Posted: 26 Mar 2020 02:10 PM PDT

    Looking for some resources to be great at sales. I know that's a broad question but both run my own online side business, and just got my first job in sales a few weeks ago and start shortly. Not only will sales be my career, but also the overlap to my ecommerce store would be fantastic I'm sure.

    I'm curious to any resources like books, videos or audio books with good quality content to get me some background and let me hit the ground running in a few weeks.

    Recently listened to Never Split the Difference, and read How to win friends and influence people, so not a terrible start.

    Any guidance would be wonderful, cheers!

    submitted by /u/Sex_Llama
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    Looking for new and exciting potential ways to get capital.

    Posted: 26 Mar 2020 01:56 PM PDT

    This may be a bit of a stretch but during quarantine, I thought it might be worth it to reach out to this community to hear their ideas on ways a pre-established 15-25 million dollar company could get potential large amounts of capital. For example; crowdsourcing, SBA backed loans, etc.

    I know the different ways a company can generate capital vary depending on which kind of company it is but for the sake of privacy all I can share is that it's a fashion brand based in the U.S.

    If anyone has any ideas I'd love to hear them. The more creative the better, practicality over the long haul doesn't really matter.

    submitted by /u/riguy1231
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    [Ask] Any recommendations for a CRM platform for architects?

    Posted: 26 Mar 2020 01:56 PM PDT

    Hello all,

    I was recently let go by my firm which was a top 100 firm working as a BD and marketing coordinator, we had an internal system for files, contacts, and lead generation. Luckily I had made a lot of connections and was able to start at another firm the next week. This new firm is a small residential firm that's been in business since 2006. Because I'm essentially the entire BD and marketing team now it's been tasked to me to create or find a CRM platform that for the first time will create a centralized database of consultants, clients, prospective clients, city officials and employees, and contractors, etc that we can use to communicate and also create sales leads in.

    Does anyone have a recommendation for a CRM platform that is particularly set up for architecture? Right now the leading candidate is a platform called Copper.

    My three main criteria are:

    • Has a sales/lead generation feature
    • Mass mail marketing so we can dump MailChimp
    • G Suite integration
    • Segmentation feature and customization tags, labels, etc

    I'm not looking for anyone to do any actual labor, just see if anyone can recommend a platform.

    submitted by /u/gesamtmotoringwerk
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    How can we be more like Amundsen and less like Scott during the COVID19 situation? Ideas?

    Posted: 26 Mar 2020 09:54 AM PDT

    During the race to the south pole Amundsen's men actually gained weight (and reached the south pole first). Scott's men not only lost weight (and reached the south pole second) but also perished during the trek back. info here.

    Amundsen learned from the locals (Eskimos) and adapted better. Scott used the same old techniques (ponies instead of dogs, men hauling and even untested motor sleds) and wasn't as well adapted to that harsh environment.

    Not pointing fingers to the courage and the sacrifices of those brave men BUT learning from their mistakes.

    Here's what I do to emerge in better shape from this situation:

    1)Working out even if I can't leave home (improvised weights). It's tempting to use this an excuse to workout less so I decided to use this as an excuse to work out MORE. TIP: working out will make you better at entrepreneurship by maintaining your physical & mental performance.

    2)Learning during my free time (American-English diction and sales techniques). Netflix is tempting but learning will benefit me in the long run.

    3)Maintaining my current business the best I can (luckily I have very low overheads) and starting a new one. Not taking action during these times is BAD IMO.

    What are YOU doing to emerge in better shape from the current situation?

    Let's share these techniques so we can all benefit!

    submitted by /u/odonian_dream
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    S**tpost

    Posted: 26 Mar 2020 01:38 PM PDT

    Looking to start my first e-business, would appreciate it if someone could point me in the right direction

    Posted: 26 Mar 2020 01:38 PM PDT

    I'm in a situation where my wife is in a very comfortable job where she makes $200k a year while I have burned out from working at ad agencies. I really want to start an online business even if it's just a test to fail fast. I was hoping you'd be able to point me a good direction to start researching options.

    I've been a marketing guy for ten years and I can handle things like putting up a simple website or using WordPress/Shopify, run social and Google Ads, light graphic design, video editing, audio editing.

    For years I've helped others promote their businesses and I want to learn how to start my own thing. Any direction would be appreciated.

    submitted by /u/aguatopia
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