Wantrepreneur Wednesday! - (April 29, 2020) Entrepreneur |
- Wantrepreneur Wednesday! - (April 29, 2020)
- Entrepreneurs: how many of you have been diagnosed with ADHD?
- I sold $100K worth of videos and PDFs in 4 months
- Starting from scratch with $50 000, what would you do?
- How to decide between two business ideas that both seem to be liked by my users?
- Starting a web design business. Any tips?
- New competition is doing huge fundraisers weekly for different groups, while I don't often do any at all. Should I be worried?
- Other ideas to get my restaurant to survive
- Commercial Loan Brokers
- Built NextHangout.com to find the best online events and meetups to join right now! Feedback?
- Building websites for small businesses
- Just bombed my first demo and I need a bit of motivation
- PPP LOAN QUESTION: What documents should I use to show proof I have contract employees?
- The value of "worthless junk"
- Selling Strategy - Email vs, Phone vs, In-Person
- Are you marketing to new stock market investors? Want to start a think tank?
- Pivoting business through COVID
- Anyone use a craigslist posting service?
- What's your opinion on a "new material" market
- ATM Business
- Net 30/60/90 accounts for new businesses
- Integration of Wordpress sites to one blue host domain
- How to increase new users for my site?
- Does switching to long-term rentals is a wise decision nowadays?
- Buying online courses, ebooks, PDFs and webinars will not make you successful, but rather those who sell them
- The stimulus surge is real.
| Wantrepreneur Wednesday! - (April 29, 2020) Posted: 29 Apr 2020 06:10 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]  |
| Entrepreneurs: how many of you have been diagnosed with ADHD? Posted: 29 Apr 2020 06:26 PM PDT Hi guys, my name is daniel and I am currently a college student drop shipping on the side to pay for college. I am currently writing a paper for psychology on how ADHD has a hidden benefit as a helper to entrepreneurs and would like some insight on how many of you have been diagnosed with ADHD at one point in life and used it to benefit them in some way. I have found that I am fascinated with the business world and spend a lot of my free time looking at investing/real estate videos but don't feel too excited about my general classes. Any insight would be awesome! Thx [link] [comments]  |
| I sold $100K worth of videos and PDFs in 4 months Posted: 28 Apr 2020 09:44 PM PDT On Christmas day of 2019, I released my first info product (a technical ebook [1]). Earlier this week, I released my second product (a short video course [2]). I announced both on Twitter [3][4], and I let word of mouth do the rest. In the 4 months since, I sold $100K worth of videos and PDFs [5]. 95% of that is directly attributable to my Twitter account: some customers were my followers, and some customers were referred to by my followers. (The other 5% came from a paid marketing campaign I started recently.) The fascinating thing to me is that I started posting on Twitter only last year. In my first 14 months on Twitter, my tweets were seen 35 million times, and received 1.7 million clicks of some sort (likes, retweets, link clicks, and things like that). Imagine how much you'd have to pay Google or Facebook to get that kind of attention! [1] https://gumroad.com/l/aws-good-parts/r [2] https://gumroad.com/l/twitter-audience/r [3] https://twitter.com/dvassallo/status/1209686739146534912 [4] https://twitter.com/dvassallo/status/1252963753647316992 [5] https://twitter.com/dvassallo/status/1254147759118024704 [link] [comments]  |
| Starting from scratch with $50 000, what would you do? Posted: 29 Apr 2020 07:20 AM PDT Let's say you have to go back to square one and start all over again. Knowing what you know now, with all your experience as a successful entrepreneur -- if you have $50K startup capital, where would you start? What would you do? [link] [comments]  |
| How to decide between two business ideas that both seem to be liked by my users? Posted: 29 Apr 2020 06:24 PM PDT Hi there, I'm solving a problem that women have with buying wigs online - which is that you don't know if it's the right color, size, or fit for you until you actually have it - in which case, you've already spent $200-$400 on it. So my first idea is to create a Warby Parker - sort of program where you can select a few wigs to try-on at home for a low cost and if you decide to buy one of the wigs, we'll deduct the cost of the sample and send you a new one. (I don't think simply being able to keep the wig you want would work because these are sampler wigs which means they've been tried-on and aren't brand-new). It seems like a a lot people really love the idea based on some user research but there's a few who don't think it's hygienic and wouldn't participate. I have some ideas around making the thing sanitary such as re-attaching plastic linings after each return or potentially even washing it after each return (but this would greatly decrease the shelf life of the wig). The other idea is to create an app that allows you to do virtual try-ons. Some others seem to love this idea as well. But I don't think it really solves the "core" problem of you still not REALLY knowing what it feels or looks like in-person, so you could still run into the same problems. I almost feel like this is more of a fun / marketing thing that could get a lot of attention but wouldn't necessarily solve the difficult problem. However, this idea - though more expensive to build as an MVP - doesn't deal with the huge logistical challenge of the first idea AND doesn't experience the hygiene issue. So I'm debating which of the two paths to go down and I'm doing tons of interviews and it seems like I'm getting really split responses in terms of what women would want. I obviously have a good starting point but would like some help thinking through next steps. I have my store running and I've ordered my first batch of wigs so I can get started on the first idea MVP next week. The second idea is honestly not feasible for me unless I raise money - which would be hard to do now AND if I had no traction. So I guess I could just go the first route, show traction/revenue with the users who like this idea and then eventually raise money to build an app to capture the other users who want the virtual try-on? [link] [comments]  |
| Starting a web design business. Any tips? Posted: 29 Apr 2020 06:16 PM PDT I've been designing websites for myself and family members for the past six years. I'm now considering starting a web design business. If you ever owned a web design business, or something similar, any tips would be appreciated! Obviously, just "web design" isn't enough to make it in the days of Wix, Squarespace, etc. So I'll be positioning myself as a someone who gets businesses results using their website and other online marketing strategies. Thoughts? Thanks guys! 👊 [link] [comments]  |
| Posted: 29 Apr 2020 01:32 PM PDT So, I run a small pizzeria in a very small town. Our area is also cut in half by a river with no bridge, so the market is extra small compared to other area. (And this I want to emphasize, it's a very small market. We've been the only pizzeria for 20 years aside from some mom and pop shops that don't even last more than a year.) We are a part of a small franchise and regularly we actually reach top 10 as far as sales go for the corporation. We do well for ourselves. Onto the question - A Papa Johns opened up the day after our state basically did a lockdown just down the street from us. Our sales initially took a cut in half, but over the last month we've gotten back to normal weekly sales. This papa johns however has been extremely vocal about their business and sales. They announced they did this incredible amount of business we've never even come close to matching, and they are doing these huge and generous fundraisers for seemingly all groups in the area. I get less worried in the short term each week because our sales keep climbing, but this week they are doing another fundraiser and boasting loud and proud online and in the community about the huge donation they are making. *Should I be worried about how their PR could affect us long term?* Like, I support any group that comes to me and occasionally I reach out to groups in need first as well. But these guys are going nuts throwing money at every group you could think of. (Which, is amazing they have the cash to burn because - emphasis on this small market and our sales stabilizing back to normal). I'm hesitant to start fundraising weekly like they do because 1.) we just don't profit THAT much as a store and 2.) my fundraisers have never brought in what theirs does anyway, so we'd be small beans in comparison. I'm leaning towards just ignoring them essentially and going on with business as usual. My customers who did go to try them have informed me our food and service are top notch compared to their's and I feel confident with that statement. I just don't want to ignore this fundraising race if it could have a big impact down the road. [link] [comments]  |
| Other ideas to get my restaurant to survive Posted: 29 Apr 2020 05:03 PM PDT Hello everyone - a year ago I invested in one hell of a Spanish restaurant and I was doing really well, until we met Corona. We've been doing deliveries, take-out, started selling breads and cakes as our brand is quite strong, and I'm also thinking about online cooking classes. That said, is there anything else or option that you guys would recommend? Thanks a lot in advance [link] [comments]  |
| Posted: 29 Apr 2020 06:58 PM PDT I saw an interview today with Bobby Castro (founder of Bankers Healthcare Group) and it went into detail on how he grew the company and his story blah blah blah. He went into some detail about how he built his company matching borrowers with lenders on commercial loans. I never really thought about this in a commercial lending capacity. So I did some more research to see what licenses are involved. And it varies state by state, but for the most part, it's not really regulated. I noticed that a lot of people are selling courses on how to do equipment finance brokering for businesses. And the courses are crazy expensive. Which tells me its high profit, low barrier of entry, and extremely competitive. Does anyone have any experience doing this or have any suggested sources for learning more? [link] [comments]  |
| Built NextHangout.com to find the best online events and meetups to join right now! Feedback? Posted: 29 Apr 2020 01:46 PM PDT Wanted to share something I made recently in my spare time during lockdown, to help find online meetups and events happening right now: nexthangout.com Meetup.com is not great for discovering events across multiple timezones because it doesn't auto-convert the times when browsing. This means it's near impossible to discover events not happening near you which in fact should actually be the best part about meetups moving online: not being limited by location. There's some cool stuff happening online if you find yourself having not much to do during lockdown, take a look! Also would love feedback, I'll definitely try and get some marketing tips soon from this sub! [link] [comments]  |
| Building websites for small businesses Posted: 29 Apr 2020 09:45 PM PDT Hello! Almost every single small and local business near me has a very questionable website. I feel like with my mediocre website design experience, reaching out to them and offering to build them a website at a low cost could be a great side gig and great experience. Anyone ever try this? [link] [comments]  |
| Just bombed my first demo and I need a bit of motivation Posted: 29 Apr 2020 09:34 PM PDT Hey team! The last year I've been working on a SaaS product for tracking employees hours and last 2 weeks ago I released it to the public. I had my first demo for a potential customer and it bombed. The product was not what he was looking for and it's hit me pretty hard. Honestly it's been a long year and to have my first demo bust has given me a bit of a shock. I could really use some support from those of you who have had some failures but bounced back. [link] [comments]  |
| PPP LOAN QUESTION: What documents should I use to show proof I have contract employees? Posted: 29 Apr 2020 09:29 PM PDT So, my business has been around for about 6 years, but this was the first year I legitimately had it as a business. So Throughout the past 6 years I used a few models for my work, and paid them in cash, including last year. Now, I'd like to apply for the PPP loan, and I see that I need to show proof I have employed people other than myself. So, I was wondering if anyone could point me in the right direction of the documents I need to list my contracted employees, and what I paid them, and anything else used. Etc. https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf Does anyone here have experience with that? [link] [comments]  |
| Posted: 29 Apr 2020 08:47 PM PDT I bought a lot of 20 year old RC planes for $600 about a week ago now. The first day of owning them was pretty discouraging. I reached out to RC enthusiasts and they said that I basically had a pile of junk and they couldn't see how I would extract any money out of my purchase. The very first thing I did with the lot though was flip one of the most basic planes for a luxury watch. The retail price of the watch is the same price as what I paid for the entire lot. That's when I knew for sure that everyone telling me they were worthless was wrong. So, I started learning everything about these planes and what goes into them that I possibly could. The experts are mostly right, 90% of what goes into them is junk, absolutely worthless. You would be better off economically if you took up a hobby throwing money into a bottomless pit rather than building RC planes. The frames are made out of popsicle sticks basically. All of the internals are electronic. 20 year old electronics don't hold up well so that's all garbo. You straight up devalue an RC plane by taking it out of the box and putting it together. Those little popsicle sticks require power to fly though. 2 stroke and 4 stroke engines specifically. Very nice ones. I've sold three items in total so far from that entire lot and already made a profit on buying it. The lot that everyone told me was full of garbage and worthless junk. I'll continue making a profit off of this lot into next year. When all is said and done, it is 100% going to be in my top 3 lots so far in terms of profit and could very well end up at number one (I had a watch lot that will be very hard for it to compete with). Four of the planes in the lot require very minimal effort to fix up and are worth between $1,200 and $2k each to a very, very specific buyer. It will probably take me a few years to eventually find those very specific buyers. I have some pretty legit toys in the meantime. Out of everything that's not actually a plane, I have 80% of that stuff listed. Once that all sells, it will again be profit several times over on this lot. Once the lockdown ends, I will take all the planes I stripped the engines off of and sell them off at a swap meet. I'll clean them up and fix them up to the point where all each one needs is an engine. People who are interested in trying out the hobby on the cheap will buy them up, and I'll again make several times my money on those. Here's the video I made the day I bought the lot lol. At the time of making this video, I was seriously pretty overwhelmed by the sheer amount of planes and at a complete loss as to what to do with it all: https://www.youtube.com/watch?v=a6vaiNXtCEs Here's the update video I made going over what I decided to do with everything: https://www.youtube.com/watch?v=kwfTDfYF7Yg [link] [comments]  |
| Selling Strategy - Email vs, Phone vs, In-Person Posted: 29 Apr 2020 08:01 PM PDT Hello everyone, this is my first post in Entrepreneur. My business is a medical courier business which is not operational yet. My plan is to do same day deliveries (a courier service) for pharmacies, labs, hospitals, dental offices, public health departments, dentists, etc. The services I'm offering will be regular same day deliveries (by 5pm), rush (within 4 hours) and direct (withing 2 hours). My plan is to first target pharmacies that have at least 2 locations, start doing deliveries on my own and scale if possible. My elevator pitch: I am the owner of a local medical courier business. I do mostly same and next day deliveries for local businesses specializing but limited to the medical field. As it's just me doing the deliveries my rates are lower compared to large, medium, and smaller sized courier businesses which have higher overhead. I am certified for the Transport of Dangerous Goods (Canada), my business and vehicle are fully insured and bonded, I have no criminal history or background, I am very reliable & available 7 days a week, I always conduct myself in a professional, polite and courteous manner, I always try to go the extra mile to make sure my customers are happy. My Plan: I'm 23 and this is my first business and I want to test it out and see if I can make it work. I have been working on this business for a month, setting up, a website, licensing, email, insurance, pitches, pricing, company registration. The first phase is the test phase: I'm going to see if I can get clients, do the deliveries myself and see if I can make it profitable. If I prove that model out I will look into the possibility of scaling. I don't have a long term plan because I want to see if I get clients and do deliveries before I make a long term plan. My biggest fear is not getting any request for deliveries. The Questions : Now the question I have is how do I target these pharmacies, labs, dental offices, etc, when it comes to selling/showing/presenting the service to them. The three routes I'm thinking is via email, phone call/voicemail and in person. I'm looking for advice in which of the three I should do and in which order. I was initially thinking I should send an email and the follow up with a phone call but then I thought would it be better if I went in person? Would it be intrusive if I went in person or would it be better if I went in person? I'm having back and fourth thoughts about it. So I'm basically looking for advice on an ideal strategy for approaching potential customers with the three different ways of communication at my disposal. Please feel free to add any other advice. Thanks for taking the time to read this and have a great day! [link] [comments]  |
| Are you marketing to new stock market investors? Want to start a think tank? Posted: 29 Apr 2020 08:00 PM PDT I have a business I am working on where I market to stock market investors, including new ones. I'm wondering if anyone else is chasing the same market. I thought it might be mutually beneficial to start a think tank group where we talk about ways to engage this demographic. Ideally ours products/services don't compete with each other. If interested please drop a comment. [link] [comments]  |
| Pivoting business through COVID Posted: 29 Apr 2020 04:07 PM PDT I run a small outbound tour operator in the UK and covid has really put the business on hold. It's only myself and wife and we have cash to see us through but I want to use this time to develop something on the side... probably December/January in our niche. I've been in business online for 20 years and see these 'guru' courses and cringe. A few friends and connections have asked me to help them with there business recently and this got me thinking....how can I use this to earn cash? They all wanted to take the business online (barber X 2 and gardener) so have helped them start podcasts, record video content for a course and develop a subscription model. Is this viable as a business - almost a consultancy for those looking to have an online and offline business? If so, how would you charge? Subscription model? I've edited the podcasts to get them going and shown how to do it going forward. It's all self taught as I have a podcast around this niche of taking business online. [link] [comments]  |
| Anyone use a craigslist posting service? Posted: 29 Apr 2020 03:43 PM PDT |
| What's your opinion on a "new material" market Posted: 29 Apr 2020 03:19 PM PDT I've been thinking about this for some time now. I would really find it cool to start a company in a completly new field (technologicaly). Examples are: products with graphene, products with artificial spider silk, yeast produced cheese. Processes that are starting to get out of the university lab and slowly migrate to the applied field. However, I always fear these ideas are way to advanced to start running a first business. My questions: - did you start a company with a new product/material and would you like to share what your steps were?
I really appriciate you spend the time to read my post! I hope that some of you guys have some helpful insights or learn something from the comments. Thank you! [link] [comments]  |
| Posted: 29 Apr 2020 07:03 PM PDT I found this business model on YouTube and thought it seemed really interesting. Have any of you guys owned/operated an ATM before? If so what kind of money did you make and for how much work? [link] [comments]  |
| Net 30/60/90 accounts for new businesses Posted: 29 Apr 2020 03:15 PM PDT Hey everyone, I'm struggling to find the financing for my company since it was incorporated just a few months ago, and my personal credit score isn't anything to call home about. I have some prototyping services I'm needing to contract out and I've been offered net 30 credit with the caveat of having the credit check come back approved. It's only a $10k service, which I don't have to spare after purchasing 3 machines outright (CNC routers for those who are interested), but will have more than enough in the next month. With your experience in dealing with net 30 lenders, would you say that I should just wait it out and not deal with net 30 at the moment or would you be confident enough that I would get approved to say go for it? [link] [comments]  |
| Integration of Wordpress sites to one blue host domain Posted: 29 Apr 2020 06:56 PM PDT Is it possible to integrate two separate Wordpress sites( hosted on two separate blue host domains) to one bluehost domain? [link] [comments]  |
| How to increase new users for my site? Posted: 29 Apr 2020 06:48 PM PDT I built a site to track Covid-19 cases in the U.S. The site is ncov19us.com for those interested in seeing it. I started this project a few weeks ago and I am getting new users daily, averaging about 10-12 new users per day. Returning users account for more than half of my daily traffic. I tried to run some Google and Twitter Ads but was denied by both for it being a sensitive topic. So now I have to find a way to grow my user base without advertisements. So far I have been getting all my traffic from Twitter. What other approaches would you recommend I take to acquire new users? [link] [comments]  |
| Does switching to long-term rentals is a wise decision nowadays? Posted: 29 Apr 2020 06:35 PM PDT |
| Posted: 29 Apr 2020 06:33 PM PDT Those who sell courses, webinars, ebooks and pdfs do not provide you with anything that you can't get for free. They do not teach you practical methods to operate a business, they sell fluff. They do not make money doing what they're telling you to do, they make the money from you buying their "ill show you how to.." products. Edit: Bouns Also any post/ video that was some form of a link leading to an email sign up, best believe that the whole idea is to get your email. [link] [comments]  |
| Posted: 29 Apr 2020 12:06 PM PDT Coming from a brand/product based ecom on Shopify. Everybody else I've been talking to is experiencing similar upticks. The media is crying about unemployment, and people without income, but people are spending more than ever. Is this the bubble? Will there be a massive drop off with stay at home extensions? Will the effect not be felt until things reopen and people have trouble returning to work / making money? Wild times. [link] [comments]  |
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