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    Monday, May 4, 2020

    Business Warren Buffett: Anyone who works 40 hours a week should have a decent life; nobody should be left behind

    Business Warren Buffett: Anyone who works 40 hours a week should have a decent life; nobody should be left behind


    Warren Buffett: Anyone who works 40 hours a week should have a decent life; nobody should be left behind

    Posted: 03 May 2020 10:35 AM PDT

    Dollar up, Asian stocks slip as U.S. pins blame for virus on China

    Posted: 03 May 2020 10:45 PM PDT

    UAE airlines say years needed to restore demand - business news

    Posted: 03 May 2020 07:52 AM PDT

    A Family Business Survived One Pandemic. It’s Determined to Do It Again.

    Posted: 04 May 2020 03:11 AM PDT

    Fast forward 3-5 years - what are some of the best businesses to start post-recession? Especially the kind that don't need you to be there all the time e.g. car salesman, doctor or a lawyer

    Posted: 03 May 2020 10:57 PM PDT

    What is Kakaotalk? (Businesses in Korea #2)

    Posted: 04 May 2020 01:45 AM PDT

    Kellogg's Counter-Intuitive Approach in the Recession of 1920s

    Posted: 03 May 2020 03:53 PM PDT

    Post Covid+19 Real Estate

    Posted: 03 May 2020 10:30 PM PDT

    Highest Paying And Most Employable

    Posted: 03 May 2020 09:43 PM PDT

    What major is the most employable while also paying good money in the work field?

    submitted by /u/rephypebeast44
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    Private equity firm Silver Lake to invest Rs 5,655.75 crore in Reliance Jio Platforms

    Posted: 03 May 2020 09:42 PM PDT

    US private equity firm Silver Lake will invest Rs 5,655.75 crore in Jio Platforms for a 1.15% stake at an equity value of Rs 4.90 lakh crore, a deal which came less than two weeks after Facebook announced a $5.7 billion investnment into the unit of Reliance Industries.

    submitted by /u/nasirbobby
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    How dropshiping business runs and how Shopify helpful in online store

    Posted: 03 May 2020 03:22 PM PDT

    Domestic markets open lower; Sensex plunges 1400 points, Nifty below 9500 - business news

    Posted: 03 May 2020 09:16 PM PDT

    Intensity vs Consistency - Management lesson by Simon Sinek

    Posted: 03 May 2020 08:56 PM PDT

    5.04 South Korean business news summary

    Posted: 03 May 2020 08:41 PM PDT

    Samsung Electronics accounted for a 21% share in the global mobile phone market in Q1 2020, selling a record low of 58.3 million smartphone units. The Chinese company Huawei followed in second place, selling 48.5 million units during the same period.

    Sales of the Korean automaker Kia Motors America dropped 38% year over year to 31,705 vehicles in April. During the four months of this year, the company sold 169,650 units, nearly 10% down from the same period a year ago.

    Combined sales of Korean duty-free shops slipped 1.3% month over month to $1.5 billion in April, down 46.2% from January, mainly affected by the sluggish economy amid the coronavirus pandemic.

    Combined net income of South Korea's largest 64 business groups on the Fair Trade Commission's watch list dropped 48.1% year over year to $39.1 billion in 2019. It was mainly affected by sluggish sales of semiconductors and petroleum products.

    (Source: Yonhap News Agency, BusinessKorea)

    submitted by /u/theasiansbusiness
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    What are the legal aspects of running a clothing brand?

    Posted: 03 May 2020 02:04 PM PDT

    I've done a lot of research and can't find a clear answer so I figured I'd ask reddit.

    My main question would be can you run a clothing brand with nothing in order?

    Should you trademark immediately or after you've been successful?

    What else would you need?

    Thanks

    submitted by /u/DEJW10
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    How to learn how to scale my business when I don't know how to?

    Posted: 03 May 2020 03:46 PM PDT

    I started a supplement business and built my own brand. It started out as a little side hustle, wasn't making too much money or getting too many orders. I do everything on my own, from capsuling, packaging a variety of supplement powders, and designing labels, fulfilling orders etc. Just in the past few months I've gotten an incredible surge in order volume. Revenue has skyrocketed. I am happy about that but am starting to run into a few issues.

    I want to learn how to be more efficient, what machinery I should get, how to go about fulfilling orders (as quickly as possible), if there's anything I could be doing to save time. An example is capsules. I use a rudimentary manual machine to make capsules and then distribute them into bottles that I seal. I want to automatize this process but don't know how to go about doing it.

    Should i be hiring employees, should i get a warehouse instead of storage unit, How should i delegate tasks to these employees to make my business run as smoothly as possible.

    Should I contact a business consultant or lawyer? Thanks for any advice, I really am not sure what to do to help my business grow.

    submitted by /u/Funnybuilding
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    Entrepreneur Problem Database

    Posted: 03 May 2020 02:22 PM PDT

    If we start with the assumption that the classical definition of an entrepreneur is to profit as a byproduct of solving real problems where the solution improves everyones well being in the same vein as Henry Ford or Thomas Edison, then there are two big problems today for talented entrepreneurs:

    Problem 1: Entrepreneurs pursue ideas instead of problems.

    An idea is something that hasn't proven to be a problem yet. And since it hasn't proven to be a problem yet there's no need to find a business solution. When you try to market a solution for a non-existent problem, the result is novelty. Novelty may be profitable in the short term but usually is unsustainable. This leads to entrepreneurs misplacing their time and money. Examples of novelty can be seen in Tyler Cowen's video on the Great Stagnation. The internet promotes more ideas than problems. And genuine problems are difficult to locate, understand or verify.

    Solutions to problem 1:

    - Create a submission process for filtering real problems from ideas.

    - As part of the submission process, peer review submissions through industry experts.

    - Submissions that fail peer review, will be tagged as "ideas" instead of "problems".

    - Index submissions into long form centralized discussions that are searchable by tags/keywords.

    - Promote objective discussions of submissions through citations of transparent data.

    Problem 2: Entrepreneurs profit as a byproduct of rent seeking, financialization, offshoring, consolidation.

    These business models generate profit from innovation that is not based on the classical definition of solving problems by improving everyone's wellbeing.

    Solutions to problem 2:

    - Tag submissions by type of innovation.

    - Incentivize submissions for classical innovation over rent seeking, financialization, offshoring, consolidation.

    - Incentivize discussion for brainstorming publicly available business plans for verified problems.

    - Incentivize entrepreneurship through publicly available business plans being available.

    - Incentivize entrepreneurship through enabling participants in submission discussion to network.

    Process

    The process I have in mind is more or less as follows:

    Step 1: Make submission

    Submitter must state a problem. They should make a case for the problem. Ideally they should cite current businesses that fail to address the problem. There will be a structure to writing a submission with different fields required. The goal here is to prove that the submission is a problem.

    Step 2: Verify Problem

    The submission must be reviewed by someone who has experience in that industry. The goal here is to verify that the submission is a problem. Only a reviewer can certify that a submission is a problem. If submissions are not a problem, they should be refuted through data or industry expertise. In such cases the submission should be tagged as an idea.

    The reviewer should somehow demonstrate credentials. A simplified version is just to take their word. A complicated version would be to have their credentials verified by Linked In. Reviewers could also be invited by the submitter to certify their submission.

    Submissions can be reviewed by multiple experts. And submissions can go from being "ideas" to being "problems". There will be a score associated with each submission. The higher the score the more verified a problem is.

    Step 3: Brainstorm Solutions

    This would be a place to formulate business plans for verified problems. Both step 2 and step 3 could be a very long and deep discussion. There would be a single threaded discussion for each problem. There would not be duplicate problems. The end result would be a wikipedia like database of problems that show a history of discussion.

    It's possible that some problems will be verified as problems but not have solutions. Step 1 and 3 serve different purposes.

    Do any sites like this exist?

    I don't know of any websites that do this in a formal structured way. The goal is quality over quantity. To have perhaps the 100 biggest verified entrepreneurial problems of a given time rather than 10,000 ideas. I would rather have the 10 best discussions on the internet about 10 problems, with each discussion being 50 pages long, then 10,000 threads that each have single word responses/post. Profit is also secondary to innovation quality. There are plenty of places that thrive on offering innovations in scams, but this place will value real innovation. And if there are no innovative submissions then the space shouldn't be filled just to be filled.

    Is this a problem for anyone?

    In the spirit of this post, I will consider the post itself an unverified idea. I'm not sure whether this is a real problem or not. Maybe existing online business/startup/entrepreneur forums already informally address this issue.

    submitted by /u/Sashavidre
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    Looking for Client Messaging app/software

    Posted: 03 May 2020 06:07 PM PDT

    Hi guys idk if this is the right subreddit, if not, please direct me elsewhere.

    My Mum is looking for some sort of software or app that will help her mass message her clients. She runs a salon and wants to be able to write a message and SMS all her clients for example if she's closing down because of covid. Or even to remind them of their appointment, or would she need a database for that?

    I think a friend of hers recommended an app called Fresha but it seems a little complicated for her. TIA

    submitted by /u/irrid_immut
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    Degree/College to Pursue?

    Posted: 03 May 2020 04:41 PM PDT

    I have a decision to make in terms of college. I was accepted at Cal Poly SLO for Business Administration and at UCLA for Pre-Business-Economics. I am having a hard time choosing as I think I would be less stressed at SLO while I would receive a higher quality education at UCLA. Which one would you choose and why?

    submitted by /u/Brenaldo17
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    Glencore's Zambia subsidiary to resume mining operations temporarily

    Posted: 03 May 2020 07:50 AM PDT

    You have one week to make $1000 with just your laptop....how are you going to do it?

    Posted: 03 May 2020 02:26 PM PDT

    Going Back To School

    Posted: 03 May 2020 12:44 PM PDT

    Hello!

    Recently I graduated from college with an art degree. I now work in construction, and desperately want something else. I've found some programs online for Business Admin. Is it worth it to go back? If I do go back, what should I specialize in? Are there jobs available?

    submitted by /u/herethereherethere
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    How bad is it starting a Landscape business from a minivan?

    Posted: 03 May 2020 10:55 AM PDT

    Basically, I focused most of my bootstrap money to get the appropriate tools. With very little left. I don't like the idea of hauling stuff out of a minivan, it just, well, it makes me look unproffessional. And it turns me from someone who's a liable bussiness, to a young dude that needs college money.

    What do you guys think? Wing it with the minivan? or save some from my job to get a truck?

    I have considered a trailer, but a trailer plus any car that is not suited for towing will eventually ruin the car.

    Thoughts?

    submitted by /u/PureRepresentative2
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