Wantrepreneur Wednesday! - (March 04, 2020) Entrepreneur |
- Wantrepreneur Wednesday! - (March 04, 2020)
- Any luck escaping the rat race?
- Is there another subreddit for entrepreneurs who are interested in businesses that are not related to tech/software/apps etc?
- Challenge idea for young guys: Start with $50 and turn it into $500 in 30 days. How would you do it
- Nobody Uses Their CRM. Prove me wrong.
- Working for 9 months and I've learned an immense amount, but I've made absolutely no money to show for it. Is my business sustainable?
- Affiliate Marketing vs Dropshipping vs Amazon FBA - Your favorite and why?
- Creating Professional Business GFX for $10
- This is probably asked here a lot but, are there any good business books you would suggest (pertaining more to tactics rather than mood)?
- Where do people find quality cafe employees?
- (UK) People who've put on a outdoor music festival, successful and not, I'd love to hear what you did from idea to event.
- Growing a business from PT to FT
- Free vs. Paid Shipping?
- Looking for feedback on 3rd party web design company UI
- What are some good products to make and sell with a 3d printer?
- How to expand notebook business?
- eCommerce: What is best Wordpress theme to show products/prices (online brochure)? Are there any free ones or the only ones worth using are the paid ones? Do not need checkout or payment method.
- FINDING A MENTOR
- Breadcrumbs: How to Get Your Million Dollar Idea (Part 1)
- Affiliate Marketing question
- Property Management Company for Short Term Rentals
- Podcast Episode on "How to Build a Minimum Viable Product for Your New Business": Start Up Heart Up, with Patent Lawyer Kae Gruner (Intended Audience is Beginners)
- Opening a Bar
- Web Development for Car Design EdTech Platform
| Wantrepreneur Wednesday! - (March 04, 2020) Posted: 04 Mar 2020 05:10 AM PST 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]  |
| Any luck escaping the rat race? Posted: 04 Mar 2020 04:37 AM PST Hi all, I'll keep this short, my primary goal is to automate my income. Providing a product of some kind (likely software as I'm an engineer) is looking like the best way to do this. Where I differ from your typical entrepreneur-type is that I'm not looking to scale to a billion dollars. I'm looking to have a passive revenue stream that covers my bases - which are very reasonable. I know these types of entrepreneurs exist, they're just rarely discussed as they don't make for interesting stories, but has anyone here has success building a small, self-running business that gets them out of the rat race? Care to share your stories? Weird side note: some people get angry when I talk about wanting to automate my income and 'not work' in a traditional sense. I have no idea why, but you're one of those people who's thinking this is blasphemous or 'lazy', why? [link] [comments]  |
| Posted: 04 Mar 2020 09:47 AM PST |
| Challenge idea for young guys: Start with $50 and turn it into $500 in 30 days. How would you do it Posted: 04 Mar 2020 12:18 PM PST |
| Nobody Uses Their CRM. Prove me wrong. Posted: 04 Mar 2020 09:14 AM PST Have you ever witnessed a small business (under 10 employees) effectively use a CRM? The best I've seen is using it simply as a list to track current clients or new prospects. And that's it. No action plan. Here's one example: a tiny company or individual will do incredible work, work with dozens of clients, but fail to capitalize on that later on. No momentum is built and nothing grows. They just keep clamoring for brand new clients. Have you seen this? Is this you? And have you found a way to fix it and fit it into your workflow? It looks like a MAJOR weakness of many, including myself. Thanks. [link] [comments]  |
| Posted: 04 Mar 2020 01:24 PM PST Hi all, long post incoming! After 9 months of hustling away and looking back to see that I haven't even made a single penny from my business, I'm starting to wonder if it's worth continuing to pursue at this point. Im 20F, based in London. The core function of my business is to source development land for property developers and home builders. There are loads of them in the UK, of all sizes, from large national companies to small, local independent developers. I know that there is definitely a demand for my service, because I've straight up had developers contact me with their criteria so I can bring them opportunities. Here's how I operate. I contact developers and ask them if they are looking for development opportunities. An overwhelming majority of the time, they say yes. I extract their criteria so I can know what exactly they are looking for. This is crucial. If I bring them a development opportunity that they're not looking for, they will straight up refuse to look further into it, so it's important I bring them exactly what they seek. Then, I go out and contact landowners. I introduce myself, tell them that I represent developers who are looking to acquire land to build on, and ask them if they would be interested in having their land looked at by my developers. If they say yes, I do some market research and perform a crude, basic appraisal to see if the land would make a desirable development opportunity on paper. This means that if a developer were to buy the land, build homes on it and sold the homes, would they still make a minimum 20% net profit after build costs and all other associated costs? (stamp duty, professional fees, finance, marketing, etc) If the answer is yes, I will then "package" up the deal by writing a small report about the development opportunity. This report gives important information about the development land, the circumstances of the seller, estimations of the post development value and proof to justify how I arrived at that amount, estimations of the development costs and estimations of the potential profit the developer could make. Obviously they would have to do their own due diligence, but its just to give them a general idea of what they could potentially be looking at. Then, I send the report to my developers, and at that point the ball is in their court. I wait for them to tell me whether they're interested or not. If they like the deal and they feel it's a good opportunity, I will connect them to the vendor, they will purchase the land and I will get 2% of whatever the purchase price is. Herein lies the problem. Again and again I've only gotten up to that very last part. I've found the landowner, got them on board, researched their land, analysed it to see if it would stack up as a development opportunity, "packaged" up the deal, presented it to developers. And then it all grinds to a halt. That's where the problems start. I've come very very very close to having a deal close, I've had developers express interest, only to have one thing go wrong and they decide to call it off. It's incredibly frustrating. And the thing is, I only get paid when the sale goes through. So often times I'll put in hours of work finding and vetting an opportunity, I'd get the vendor's hopes up, I'd do all the research to see if the deal stacks, and at the crucial stage things will fall apart. All the build up and all the work will just go to waste. I must have done this hundreds of times. Now, to be fair, I've learned a lot as a result of this process. I've learned more about property development than I ever thought I would. I've learned how to perform market research and come up with a post development value based on what nearby properties have sold for. I've learned how to find out the rough value of a plot of land (often times vendors are asking for waaaaay too much). I've learned how to estimate the build cost for a development. I've learned how to read planning permissions. I've learned what sort of profit margins developers are looking for (20% net minimum). I've learned the jargon; when I speak to developers I can speak their language fluently and they have some confidence that I know what I'm doing. I've had a developer tell me I come across as professional and put together. I've had a vendor told me she'd rather work with me than an estate agent. I've had all these tiny wins, built all these great skills, gained and all this knowledge. I've come so, so bloody close. In some ways, this experience has not been a total waste due to the sheer amount I've learned. But at the end of the day, I got into business to earn money. And so far I've made a grand total of £0. I'm facing pressure from my parents, who were never really confident about the idea of entrepreneurship anyway, to go back to school or get a full time job because what I'm doing now is bringing in no income. Its starting to chip at me. Especially on days like today where I reach out to dozens of vendors and developers and not hear back from a single one. What if I actually am wasting my time? I can't help but think that if I'm having such a hard time getting just one deal done now, how will I be able to turn this business into a recurring source of income? I've had ideas of how I could automate things, and I've seen some success so far. Previously I'd get developers on board by scheduling a call with them and asking them questions about their criteria. It was extremely time intensive as each call would take about 5-20 minutes. I'd do these calls everyday and would have to fit 6/7 in. It left me exhausted. Now I have a form of qualifying questions that I promote on LinkedIn via cold messaging or just by uploading a post to my 2k connections, and I've been able to get 50 new developers on board in 4 days just by automating that process. It was my first big win as more developers mean more liklihood of getting a deal go through. Victories like that give me reason to believe my business is viable. There's a healthy demand. I now have 60 developers who have given me their requirements and contact details so I can send them deals. This is a seemingly unexplored niche too, as I've noticed that not many people in my industry are really catering towards sourcing land for developers. I'm starting to understand that it's a number's game. I have one half of the equation with my increased client base of developers, now I just need a steady pipeline of deals, which I seem to be struggling with. I've had ideas to automate the vendor side of things by creating a website, promoting it through SEO and PPC, and then including a similar form where landowners looking to sell their land can input their details. If I can have both sides automated, with regular deals flowing in and a decent base of developers to send them to, all I'd have to do is focus on vetting and packaging deals and sending them to my developers. And with more deals out to developers, there's a higher chance that one might just say "yes". So that's my plan. If I can get to that stage that'd be a dream. It'd mean I'd have significantly more time available to me. Right now the large portion of my time goes towards manually looking for land, finding the landowners, contacting them via cold call, email or direct mail, and crossing my fingers for a response. Its slow and ineffective. Its frustrating when I don't get a response. I suppose the main takeaway from this long ass post is: I've been working on my business for 9 months. There is a real demand for my service. I'm making loads of mistakes but each mistake has taught me how I can be better. I do feel like I'm "failing towards my goal" by refining myself with each failure. But I've not made any money so far. And with how long it's taking to get one deal, I'm wondering how the hell I will be able to make a stable living on this business, let alone achieve the lifestyle I've always dreamed of. My goal is to be able to automate my business to the point where I automatically have deals coming in, and a decent client base to send them to, and the only duty I have being to package the good ones up and send them out to my developers on a regular enough basis where I have them closing consistently. I already have the developer side somewhat locked down, now I need to create the pipeline of deals. The thing I want to know is, how can I do this? I've been playing with the idea of creating a website and using SEO to capture leads from landowners looking to sell. I've also considered reaching out to local estate agents and asking them to send me deals before they hit the market. Right now I'm focusing on "push" marketing when my aim should be to "pull" in my deals. Any ideas I could implement to make this successful? And more importantly, can you see the viability in this business? I'm happy to keep on grinding and putting in the time and effort. I'd happy ring up every estate agent in the area if I have to. I'll learn SEO all from scratch if necessary. But only if there's a real chance that this will work. So should I keep on trucking? Or am I wasting my time? Thanks for reading if you made it this far. Looking forward to hearing your thoughts [link] [comments]  |
| Affiliate Marketing vs Dropshipping vs Amazon FBA - Your favorite and why? Posted: 04 Mar 2020 04:07 AM PST |
| Creating Professional Business GFX for $10 Posted: 04 Mar 2020 08:47 AM PST Little side hustle for a starting entrepreneur, 18 years old, please private message me any requests for your company, I can design beautiful logos, banners, advertisements et cetera! Furthermore if anybody needs help with social media branding, Facebook advertising campaigns, website optimization, please also feel free to PM me. [link] [comments]  |
| Posted: 04 Mar 2020 10:00 AM PST |
| Where do people find quality cafe employees? Posted: 04 Mar 2020 02:32 PM PST I cannot for the life of me find consistent reliable people. I've tried indeed and of course craigslist. I know one thing I'm doing wrong is posting only when I need people. It where are you all finding people? [link] [comments]  |
| Posted: 04 Mar 2020 01:56 PM PST Context. I'm looking to put my own 1 day pop up festival in a semi rural area in the North West area of England with stunning views. I've never put a festival on before, but I have ran successfull nightclub events for over 4 years. I'm looking for some great advice of the dos and don't of outdoor music festivals, so drop your advice below and let's start a conversation. [link] [comments]  |
| Growing a business from PT to FT Posted: 04 Mar 2020 01:51 PM PST Lost. Where to start. I need to make a change. I run the office of my family's business but I've realized as our season starts up, we all need a change. It's been 25+ years and we are all exhausted. During this time, I've had a small non-profit which provides special ed. Advocacy and training. I'd like to turn this into a full time gig so we can put our business on the market and some of the family can retire. However, after a ten hour day, followed by graduate (doctorate) school and having a little bit of a life, I'm not sure where to start. I feel like the market for courses is overdone but at the same time, I keep getting calls and questions about special ed laws and programs that be covered in a course. Do I just sit down and make a list of every project followed by all the objectives needed to make the goal a reality? I have a non-profit background but for some reason feel stuck and a bit overwhelmed. Any thoughts or suggestions are appreciated. [link] [comments]  |
| Posted: 04 Mar 2020 09:51 AM PST For a new eCommerce brand in the fashion/streetwear accessory niche, would you recommend offering free shipping? I'm based in Canada. [link] [comments]  |
| Looking for feedback on 3rd party web design company UI Posted: 04 Mar 2020 09:37 AM PST We are a new company based in SF trying to change the way we manage money. The website is really our only channel to market - it has to be working hard for us. None of us are UI experts to be honest. If you have the time and inclination we would be really grateful for feedback on the website UI, content and anything else you think we can improve. Silver and Gold awards promised for best feedback. If you prefer to provide feedback in private please DM me or post in comments and we will DM you. Thank you! more info on our approach below. We are a really small team, first-time founders but experienced in payments and banking. We are competing with some of the largest most profitable companies in the world - Chase, BoA, Wells etc. Our approach is to provide value for money (big banks provide awful value for money) and a differentiated product proposition - we integrate and automate different functions - save, spend and invest so that our users automatically and by default model best practices in personal financial management. We have a radical approach to GTM - in a market with massive CAC and high inactivity we won't pay for customers or marketing - every $ we waste there is a $ we cannot give back to consumers. [link] [comments]  |
| What are some good products to make and sell with a 3d printer? Posted: 04 Mar 2020 07:17 AM PST |
| How to expand notebook business? Posted: 04 Mar 2020 12:27 PM PST I own a business that sells about 50,000 dot grid/blank notebooks per year. I would like to expand it but unsure of how to proceed. It already seems super saturated and I don't know if I should just start a new business or expand to have coiled and more fancy notebooks [link] [comments]  |
| Posted: 04 Mar 2020 12:09 PM PST https://www.4imprint.com/search/totes Something similar to that. Thanks [link] [comments]  |
| Posted: 03 Mar 2020 09:19 PM PST Hey guys, Wanted to ask if you had any tips on finding a mentor? Before you ask...a little background on me. I'm 24, and have been an entrepreneur for close to 3 years now. I have spent all my time thus far in internet marketing. More specifically, building eCommerce websites. Of course there's been ups and downs, but I've been pretty successful with it. My journey has been entirely self guided which has made it a rollercoaster ride in every way imaginable (as it is for every entrepreneur). Long story short, I have learned the importance of having a mentor to go to. Someone who has been in the game 5-10-15+ more years than you. Someone who has been through all the headaches that you are currently/and about to go through. I guess just someone who can relate to you as we all know how lonely this path can get at times... Any input/feedback helps, [link] [comments]  |
| Breadcrumbs: How to Get Your Million Dollar Idea (Part 1) Posted: 04 Mar 2020 11:00 AM PST I made a million dollars and I've written a book in hopes of helping others do the same thing. I've put together a website here with more information on the book as well as the best free resources I know of to help someone make money as an entrepreneur. Someone posted recently about how to get a business idea. Since I explain the method I used (and many other have, successfully) in my book, I thought I'd share part of it here. The title of the chapter this is from is "How to Get Your Million Dollar Idea". So, it seemed appropriate as a response to the recent posts about getting ideas. How to Get Your Million Dollar Idea One night when I was in college, my roommate and I stayed up doing homework. I worked on math problems while he worked on physics problems. We worked very hard and concentrated on the homework for several hours. At 11 p.m., we went to bed. At 2 a.m., I woke up because he jumped out of his bed and turned on his lamp. He sat at his desk and scribbled down the answer to a particularly difficult physics problem that he worked on before going to bed. Then he turned off the light and went back to sleep. Have you ever woke up at 2 a.m. with the answer to a physics problem in your head? Probably not. So why did this happen to him? The answer to this question is important to you on your journey to your million dollars. You must understand the answer, or at least utilize its implications, to acquire your money. Your SubconsciousThe obvious answer to the "Why did this happen to him?" question is, of course, because he was working on physics problems, and he came up with one of the answers. That is how you solve homework problems. However, the problem with this answer is that he was not working on the problem when he came up with the answer. He was asleep in his bed! So, why did the answer come to him? Why, instead of dreaming about being on the beach of a tropical island or dreaming about meeting Marilyn Monroe or something along those lines, did my roommate receive the answer to a physics problem and then woke up to write it down? The answer is my roommate had accidentally tapped into an amazing source of wealth, creativity, and ideas—his subconscious mind. Nobody knows exactly how the subconscious mind works. But yours is an incredible source of dreams, ideas, thoughts, and catalysts to action—working exclusively for and available only to you. You will use it to get your million dollars. What is Hypnosis?(Note to skeptical redditors: hang in here for a moment. You do not have to believe in hypnosis or try it or do it. But understanding some related items will help you get to your million dollar business idea. I know this is true for me) To understand better what happened with my roommate—and the process through which you can acquire your million dollars—it helps to examine a few things that may have happened in your life and the phenomena that some people call "hypnosis." Some people describe hypnosis as simply staying in the state or condition you pass through every night when you go to sleep and every morning when you wake up. The state occurs when you are half awake and half asleep. Given that definition, everyone is "hypnotized," even if just for a few moments, each night and morning. This means hypnotizing someone is the process of putting someone into that state and keeping them there, rather than having them fall into a deeper sleep. Perhaps while sleeping and dreaming you have had an external stimulus (e.g., noise from an alarm clock, a person touching you lightly) incorporated into your dream. That is, something from the "real world" was incorporated into the thoughts you had during your dream. You experienced something "real" (the noise) and something "unreal" (the dream) at the same time. This melding of "real world" and "dream world" is, or is at least an element of, hypnosis. If you have experienced such a dream, you may then realize your conscious mind (which hears the noise) can influence your subconscious mind. Your subconscious mind is always at work. It controls your dreams and other thinking, even when you are asleep. It creates new ideas and thoughts and it can work with stimuli passed to it by your conscious mind. (That is why the beep from your alarm clock can be incorporated into your dream.) In this way (and others), your conscious mind works with and influences your subconscious mind. It is very important to understand this: Your conscious mind influences your subconscious mind. It does not matter if you believe in hypnosis or not. You do not need to believe in it to make your million dollars. However, it is extremely helpful to understand that real-world stimuli can and does influence dreaming and subconscious thinking. This knowledge is important because you can control your conscious mind. You control your thoughts, or at least, you can if you want to do so. Because you can control your conscious thoughts, you can use your conscious mind to influence what your subconscious mind focuses upon. THAT IS THE KEY that will get you to your million dollar idea. I will explain exactly how in Part II. [link] [comments]  |
| Posted: 04 Mar 2020 10:21 AM PST The general idea is that you start affiliating with others products and then if that's a success, you start investing in selling your own products, right? And if so, where do you go from there, after reaching that point? [link] [comments]  |
| Property Management Company for Short Term Rentals Posted: 04 Mar 2020 09:57 AM PST Hey guys, Was wondering if anyone here has experience with running their own property management company for homeowners? I recently started a business a few months ago, where I manage condos, cottages, apartments, etc for homeowners of rental properties. Our two primary services are to save homeowners time, while also making them more money depending on what they're used to by doing it themselves. We provide many services such as regular housekeeping, handle all guest communications, custom listings with professional photos (er advertise on AirBnB & other major platforms), check in/check outs, etc. So far it's been a lot of fun, however the hardest thing I'm finding is getting clients. I've been using nothing but Facebook marketplace and Kijiji, but was curious to hear from you if there are better ways to prospect or get clients? If any of you have experience with this type of business, I would love to hear more about it :) Appreciate any insight in advance! Thanks. [link] [comments]  |
| Posted: 04 Mar 2020 05:52 AM PST |
| Posted: 04 Mar 2020 09:03 AM PST Hi all, It has been a dream of mine since I was 15 to open a bar as I am an Australian so I have been surrounded by that culture since a young age. Some background on my situation currently: I am a 20 year old university student studying Finance I have limited experience working in hospitality, as for the previous experience I do have is working as a junior accountant for a private company. My Plan:
That is the very limited and vague plan I do realise that and I also do realise I do lack a terrible deal of knowledge. That is why I ask you all for advice with as much truth as possible so if I am able to achieve this dream I can navigate it more easier with less chance of making a critical mistakes. [link] [comments]  |
| Web Development for Car Design EdTech Platform Posted: 04 Mar 2020 08:55 AM PST Do you want to become a car designer? Or do you want to start a small business in the EdTech market niche but don't know what to do? Inktank.academy offers online courses focusing on car design skills. It's the first digital learning application for everyone who wants to become a car designer. For entrepreneurs, this is a vivid example of how a brilliant idea and high-level tech expertise can combine for an innovative product.
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