Accomplishments and Lesson Learned Friday! - (June 05, 2020) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (June 05, 2020)
- Consumer behaviour and psychology are very important aspect in businesses. Take a look at some theories and their implementation with examples. Also some cool mind games. Entrepreneurs need to keep psychology in mind to grow and this gives a sweet summary of everything.
- How to Pitch a New Business to investors? Guiding step by step.
- Who here generates passive income and how?
- Build your marketing into your product!
- Has anyone built a course?
- Chaos comes and goes. The question is: will you be ready?
- How to distribute an early-release version of MVP? Conducting closed beta tests?
- Do you have advice for a better way to make a business out of my skills?
- So... I started a YouTube channel about ice cream rolls and it’s getting traction, any ideas of hire to improve on this?
- Does anyone a good strategy to get featured on "Projects We Love" on Kickstarter?
- I totally revamped my website after you guys gave me feedback. For one last time, can you have a look at it, please?
- Clothing brand company manufactureing/print on demand
- Need help marketing our print-on-demand products but can't pay up front
- Could you help me with my future startup survey ?
- Offering free online lessons, students signing up but not showing up - suggestions?
- As far as tangible goods/products what are some CREATIVE things to buy (invest in) that almost certaintly will appreciate with time or at least hold their value?
- The secret to creativity is knowing how to hide your sources?
- Will I run into legal trouble if I use a character from a TV show for something small in my app?
- My product (handmade soap) takes over 1 month to cure before sale. How can I avoid successful sales causing a hype-killing inventory crash?
- How to make a fruit stand cheaply
- Please help with simple Username question about which spelling is better.
- Idea: LinkedIn for Esports
- Has anyone had any success with a custom PC Building business?
- Best way to create a website for my profile?
| Accomplishments and Lesson Learned Friday! - (June 05, 2020) Posted: 05 Jun 2020 06:12 AM PDT Please use this thread to share any accomplishment you care to gloat about, and some lessons learned. This is a weekly thread to encourage new members to participate, and post their accomplishments, as well as give the veterans an opportunity to inspire the up-and-comers. 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]  |
| Posted: 04 Jun 2020 10:48 PM PDT |
| How to Pitch a New Business to investors? Guiding step by step. Posted: 05 Jun 2020 11:59 AM PDT Hi all, Stumbled upon to a great video that cover a full example of pitching a new business to investors. The narrator used "monthly" as an example explaining the whole process step by step. Video link: How to Pitch a New Business to investors The main point of the video is guiding through the whole process step by step. Hope you like it. [link] [comments]  |
| Who here generates passive income and how? Posted: 04 Jun 2020 11:13 PM PDT |
| Build your marketing into your product! Posted: 05 Jun 2020 06:33 AM PDT Ask a marketer, "How does my product grow?" They'll reply: Ads, affiliates, sales, social, yada yada yada They're describing top-down growth. Your classic funnel. Pour more in. Get more out. Here's the problem.
The best marketers think less about funnels. More about loops. Loops feed themselves. The actions of one user create an output which create a new user. Let's look at some examples. 1) Personal viral loopSome products improve with more users. So there's a personal incentive to invite new users. e.g. Fantasy football.
Other examples: Slack, Trello 2) Financial viral loopSome products have financial incentives to invite new users. e.g. Dropbox.
Other examples: PayPal's free $5, Tesla's free 1000 miles 3) Social viral loopSome products are so good, people just like talking about them. e.g. DoubleTree.
Other examples: Stripe, Game of Thrones 4) User generated content loopSome products leverage users content to grow their own organic traffic. e.g. Reddit.
Other examples: Quora, StackOverflow 5) Physical content loopSome products attract new users simply by being noticeable. Lime's bright green is not a coincidence. e.g. Lime.
Other examples: Square, ChargedUp 6) Supply-side content loopSome products incentivise users to promote their content for them. e.g. Meetup.
e.g. ProductHunt, Typeform, SurveyMonkey 7) Embedded LoopSome products grow by embedding themselves on other platforms. e.g. Trustpulse.
Other examples: Intercom, Algolia Most people think you build the product then you market it. Thinking in loops means you build the marketing into the product. The product doesn't precede the marketing. The product is the marketing. Big credit to the Reforge team. They've written a load of great stuff on this topic. This is my summary. Hope you found this somewhat useful. Any questions lmk. If you enjoyed it maybe I can tempt you with my marketing newsletter. I write a weekly email full of practical marketing tips like this Sent from my iPhone ;) [link] [comments]  |
| Posted: 05 Jun 2020 10:42 AM PDT I'm trying to build a course for my business. I'm familiar with Course Builder's Laboratory vs. Courses From Scratch. I can't find comparisons between the two. Ideally I'd like slightly more cost effective options due to current economic situations. Has anyone built a course that's successful? [link] [comments]  |
| Chaos comes and goes. The question is: will you be ready? Posted: 05 Jun 2020 07:00 AM PDT Only interested in the summary? Scroll to the bottom and see it there. Chaos In Entrepreneurship All entrepreneurs experience chaos. Even the best of us. And one thing is guaranteed: life moves in cycles and chaos comes and goes. You may be killing it right now or absolutely suck. Maybe you're holding on to a thin thread and simply want to get to the money already! But stay strong. This too shall pass. Fortunately, another chaos will come after this. Fortunately? Yes, because the journey is the most fulfilling part –– it creates the stories that you'll remember the most. Therefore, you need to have a process that will help you through any or at least most chaos. And the defining cornerstone of how you march through any chaos is based on your existing process. My Challenges Increased But I Felt More Control A little story. I used to be super stressed at the beginning of grad school. I worried about everything and that came with a wicked back pain. I couldn't sleep and constantly felt like I was forgetting something and disappointing people. Fast forward a couple months later, my workload had doubled: I had more home works in grad school, taught students, worked on a startup on the side, and interned at the same time. But the weird part was that I felt in control. My work increased yet somehow I felt better. This unlocked the idea, on an emotional level, that handling chaos is about the process you already have in place. If you're struggling it's because your process is failing you. The Process I Used The process I'm about to share with you can be used in your favorite productivity app. Mine happens to be Google Keep so I've written with "Google Keep" instead of "favorite todo app" to make the writing flow. But don't get caught up on the specific app as you read through. You can replace "Google Keep" with "Todoist", "One Note", etc. I intentionally skipped the details of how to use app features like checklist, colors, reminders, etc. And instead talked about the big picture of how things fit because that's the most important aspect of using any tool to stay in control. All good? Let's get straight to it! Find Your Single Source of Truth I use Google Keep as my single source of truth that feeds into other tools. This means it's my first stop. First stop for capturing floating thoughts, grocery, ideating, journaling, workout plans, finances. All of these have their own labels so capturing things usually takes a few taps on my phone or three clicks on a chrome tab that's always open with Google Keep. From there I move to Calendar for fixed appointments. Then Trello for team tracking collaborations or monitoring the work of my reports. Then I switch between Notes for personal writing or Google docs for collaborations. What's interesting here is that most of my write ups start in Keep on my phone. Including this post. When it starts getting longer I switch to my laptop and copy out the content from Google Keep web into Notes or Google Doc. Any time it feels like I need special formatting, need to write a sales pitch or the itch to write in my favorite font –- oh goodness, Montserrat! anybody else love this font? -– it's a sign that I need to switch to a writing tool. Switching to another tool isn't necessarily a bad thing. But not many believe that. There Is No Everything App A lot of people try to hack Google Keep or their todo app to become a writing app, a collaboration tool, a calendar app, an EVERYTHING tool. People swear by Notion. The fact is that no one tool will address everything. I made this mistake for so long. But you're better off picking up a single source of truth and then building others around it. It's fine to use Keep and Trello.It's fine to use a todo reminder and calendar.One doesn't replace the other; they complement each other. Scratching Your Paper Itch Once in a while I get the itch to write on paper. That feeling is especially strong when I'm planning big goals. I love to map out everything in front of me. And writing with my favorite pen keeps the ideas flowing. In paper situations, I scribble all on paper then when I get done, I take a screenshot and add it under the relevant label in Keep. Example, if you saw my "big ideas" label you'd see a lot of screenshots in there. I also do this when white-boarding with colleagues on a coding project or brainstorming sessions. Get done. Take picture. Add to label. Then I trash the paper. Multiple years of trying this has showed me that the paper only feels good in the moment. A few weeks later and it looks like I've got paper trash all over the place. So I screenshot and trash ASAP. This process satisfies both my digital access to my planner (beats small notebooks any day). But it also lets me scratch that my paper itch. Some people recommended Rocketbook for those who prefer writing on paper. It is a reusable notebook that lets you write, upload to the cloud, and then wipe the page clean! I've never used it but wanted this suggestion to have visibility in case others find it useful. Finally, Slowly Create Your Routine - Weekly, Biweekly, Monthly Every morning on weekdays I go through my Keep on my laptop to see things that should be top of mind that day. During the day, I add things to Keep either from my phone or laptop. Cycle continues until Friday. Every Friday, I go through my Keep to clean up any tasks that fell through or that should move into other tools. Then repeat. They're Only Minor Tweaks Pause for a moment and think about what you've read so far. You'd notice that they sound simplistic. Each of these four parts are only minor tweaks. Yet combining all of them together can boost how much you feel on top of things. 3 Action Items For You Q: Do you have a single source of truth to capture ideas, plans, marketing, customers, etc? Q: Are you stuck in the mentality of everything app? Q: What minor tweaks can you do today to feel more in control in your entrepreneurial journey? Summary All entrepreneurs experience chaos and you need to proactively create a process. The process I shared can work with any tool and it covers four parts. They are: -> Single source of truth: You should choose a tool as your single source of truth then other tools can feed from it. E.g. use Keep as single source of truth, calendar for appointments, Trello for team collaboration, etc. -> Everything app: don't worry about finding the ONE perfect app that does everything. There's no such tool. E.g. A tool may have all the features you want but offline sync could be slow. -> Paper itch: write on paper, take a picture, store it in your digital note. Then trash the paper. -> Finally, routines: slowly create a routine to review things in your single source of truth. Thanks for reading! If you have any questions let me know in the comments. I wrote a more detailed version with gifs on this Twitter thread. If you are on twitter and you're feeling generous, perhaps like or retweet. [link] [comments]  |
| How to distribute an early-release version of MVP? Conducting closed beta tests? Posted: 05 Jun 2020 02:31 PM PDT Hi everyone, I'm currently developing an MVP for an app idea I have. I'm looking to get it onto a few phones to spot bugs, get feedback, etc. Is there a common way entrepreneurs go about doing closed beta tests among early adopters (i.e for proof-of-concept, not yet available to the public)? I want to be able to share a link to download the app as it stands. Any ideas? [link] [comments]  |
| Do you have advice for a better way to make a business out of my skills? Posted: 05 Jun 2020 01:50 PM PDT Hi everyone, I'm a human encyclopedia and I am very skilled at making (mathematical) models, systems and solving problems in general. I use my models etc for various optimization purposes (I can litarally model anything, so I am generally applicable). The problem I have not yet been able to solve is: how to turn this into a business. I have tried my hand at consulting, but I found it difficult to find sufficient clients to get it going. Not a lot of people seem to want a 'modeler', and the consulting market is quite saturated. Do any of you have advice or ideas for other ways to market/apply my skills profitably? Thank you very much in advance. [link] [comments]  |
| Posted: 05 Jun 2020 01:48 PM PDT Example above Anyone know what I could do to get more traffic? More engagement? Or more knowledge about YouTube in general My background is in data and e-commerce but not YouTube, video creation or the like How well do ads work for YouTube? Anyone got any recommendations? Channel is like a month old now? Thanks [link] [comments]  |
| Does anyone a good strategy to get featured on "Projects We Love" on Kickstarter? Posted: 05 Jun 2020 01:43 PM PDT I am launching my Kickstarter page soon, and I don't have a ton of followers beforehand, so I want to be able to get featured on "projects we love" so I can attract people who dont already know about my product. [link] [comments]  |
| Posted: 05 Jun 2020 01:37 PM PDT Hey guys, I don't mean to spam, nor is this meant to be any sort of self promotion - I promise. Earlier this week, I posted a request for all of you to critique my website and I received a ton of Gold-quality advice - Based on the advice I received, I literally redid my entire website, so it is for all practical purposes, almost nothing like the previous one. Just one last time - can you guys please (especially the ones who previously commented) give me feedback on the website? Thank you so much once again! :) [link] [comments]  |
| Clothing brand company manufactureing/print on demand Posted: 05 Jun 2020 01:22 PM PDT Absolute noobie here with maybe grandiose ideas. Anyway, I have an idea about lightweight breathable clothing so not the typical print a huge logo or colors on a gildan shirt or something. I want to emulate an already existing brand but don't know where to start researching. Sort of something like this company Freeflyapparel where bamboo/viscoe clothing is used. A prelim search shows that USA based royal apparel might do this, but they only do t-shirts? My question is i guess is eventually how did a company like this get all their product? Alibaba, make and order their own, etc? And if going that route can I show them this and would they emulate it or get a general idea of my vision? If i wanted slightly more control of pockets, cuts, features like the thumb holes, where do I got to ask about that? Also if a product is made out of slightly different material like polyester instead of bamboo, does that require a whole other manufacturer? I am new to this, but working diligently and doing research! Very beginning stages, but the material and quality is the first major thing to address since the brand would revolve around that. This is my first post here so thank you all for your time and insight! [link] [comments]  |
| Need help marketing our print-on-demand products but can't pay up front Posted: 05 Jun 2020 01:14 PM PDT Hey all! So I've decided to take over the marketing and social media part of a business my friend is trying to set up using print-on-demand services to sell his designs. Neither one of us know a thing about marketing or software, but since I'm more tech savvy I've agreed to help out. The learning process has been difficult and I'm mostly looking at articles online and Youtube tutorials to try and figure out what I should be doing. We're both like turtles flailing around on our backs, with me only doing slightly better than him. We'd like to find someone with real knowledge and experience with Facebook ads and marketing, but we can't afford to pay a flat fee up front. Most of the freelance sites, like Upwork and sites like that, charge hourly, and we simply can't afford it. He and I worked out a deal that I'd get a percentage of his profits when his merch started selling for my marketing work. I thought that was a fine deal for me, since I'm not terribly unhappy in my job and there isn't much for me to lose, and he's a good friend who I want to support. But if we wanted to find a freelancer who knew things about Facebook Ad Manager and what it takes to effectively market products, would that be an unreasonable or unacceptable offer? I'm posting around to different subreddits and Facebook groups, and am not sure where else to post a job quite like that. We're at very early, not terribly professional stages in our business, and we really need help, We're just two blue collar folks trying to go into business for ourselves, to actually BUILD a good, high-quality, professional business but right now we're in the wild west. Any advice for two entrepreneurial novices? Is that sort of job offer unreasonable for someone with a marketing background (being "I'll pay you a percentage when my merch starts selling")? [link] [comments]  |
| Could you help me with my future startup survey ? Posted: 05 Jun 2020 12:56 PM PDT The business is about Tourism in Patagonia, this survey is going to help me polish my idea and to remove or add certain atractions, the form takes only 1 minute and for me is really important so i can analize a good amount of data. Im Argentinian, 27yo, business studies and background. Tourism and making people feel good are great areas of interest for me, so im going to bust my ass to make a roadtrip and wilderness business in Patagonia happen, and your opinion matters to me. The form: [link] [comments]  |
| Offering free online lessons, students signing up but not showing up - suggestions? Posted: 05 Jun 2020 12:53 PM PDT We recently set up a website where teachers can offer free live online lessons to a group of students (through Zoom or Skype). Most classes offered so far are about learning English, though teachers can offer a lesson on any topic. We have done a soft launch and are seeing that of the students that are signing up, more than 90% are not showing up to the class. This wastes the teachers time and has become a major issue. Any thoughts on how to resolve this issue? We currently send out several reminder emails to students. The students that don't show up also don't bother to follow up with an email to indicate there was a technical error or something else. We have tried to email them to ask why they didn't attend and they don't reply. We suspect the problem may be that the lesson is free so there are no repercussions to not showing up, but we want to be able to still offer free lessons. [link] [comments]  |
| Posted: 05 Jun 2020 12:40 PM PDT Tangible products as in "items", not like real estate. And not "intangible" like stock. An example, probably a poor one, would be like a collectible baseball card. [link] [comments]  |
| The secret to creativity is knowing how to hide your sources? Posted: 05 Jun 2020 12:28 PM PDT For example looking at everything in the food sector I could copy a lot of these sources. I could find the cheapest, most satisfying foods. And the best strategies to sell food. I would end up selling things in a fast food restaurant that are cheap to make. Pastries cost 10 cents to make and sells for $1 each. Macaroni and cheese and pasta cost 20 cents to make by making the noodles by hand (in bulk) and sells for $2. Pizza and hot dogs cost around 30 cents to make. Toast with sauce and meat cost 30 cents and sells for $2. Japanese curries, tempura(batter fried vegetables), soups, popcorn, fries, gravy fries, mash potatoes, tacos, donuts and desserts, all those things cost around 30 cents or less and sell at $2. sugar cane juice, coffee, tea, chinese bubble tea, mexican drinks can all be made for probably 15 cents and sell for $1.5 to $2. I'd probably narrow down the items to using the least ingredients like they do in taco bell to save money... Hot dogs are made in house, all the buns, pastries and noodles are made in house with dough mixers, and noodle cutters and hand labour. At the end of the day I could sell all these things on uber eats, and my own delivery, in my own fast food store. Offer free membership cards that give 5% store credit or they can pay $20 or $50 memberships to get a bigger discount (50% of membership revenue goes to charity) . Make plastic food templates like in japan so people know what they are getting. People can order with an app before they come in, or with a membership they can order the same food every week or with a paper sheet where they can check off what their offer is. Also involve technology to help aid in the manufacturing of the food, notifying suppliers when to send ingredients. **TLDR: A business owner making a restaurant can copy all ideas from else where. Maybe 10% is their own original idea. For instance if you found out all foods that cost close to 20 cents and some upwards of 50cents to make you could have an entire menu that cost little to make but sells for $1.5 to $4. Food combos with drinks sell for about the right price $4-6. Most prices are around $2. And there is a free membership card or coupon where they get 10% store credit. And a paid membership that's $20 or $50 which gives them more discount. 50% of the membership cost goes to charity. Plastic food templates like in Japan. Possibly even options to prepay and have food sent everyday or weekly. Finally there are can be tech systems in place where they notify suppliers when ingredients need to come in by using data to understand which items sell out the fastest and getting ingredients in faster. All in all none of these ideas are my own. They are sourced from somewhere else. At the end of the day this business plan if put into a low income community, or a very busy foot traffic area can do decent. From there tweaking the business plan, prices and tweaking the products. Any thoughts on creating businesses from other peoples ideas, then putting together a strategy. Is this the most optimal way of doing things? [link] [comments]  |
| Will I run into legal trouble if I use a character from a TV show for something small in my app? Posted: 05 Jun 2020 12:27 PM PDT Let's say I use Sheldon from The Big Bang Theory and have something like "The Sheldon Badge" in my app. Something very small part of my app and to be honest it doesn't have anything to really do with the core idea of the app. It's just something I thought I add that some users might like. Will I get into legal trouble for using a TV show character in my app? [link] [comments]  |
| Posted: 05 Jun 2020 02:36 AM PDT My friend makes amazing soap; he already sells a lot of it casually sitting at a table at expat craft markets. We live in Saigon, VN. He is not a business guy. I am a former business analyst. We're (I am) gonna start taking this seriously and splitting the profits. I speak Vietnamese, am well-connected, and have access to a wide variety of markets. I'll be starting with my friend who is a successful model and cosmetics seller with 5 digits of followers on Instagram and FB. Door to door sales are also great in this country, especially if you are a foreigner who speaks Vietnamese. They love it! I also live and work in Koreatown. The women are obsessed with skincare. There are two or three spas and cosmetic shops on each block. So... I am optimistic. I'm hoping to manage the this by:
What else can I do? Edit:
[link] [comments]  |
| How to make a fruit stand cheaply Posted: 05 Jun 2020 12:14 PM PDT Hello! I am working in a fruit stand and has recently started to think about starting my own stand. I hope this is the right subreddit for this kind of question :) [link] [comments]  |
| Please help with simple Username question about which spelling is better. Posted: 05 Jun 2020 12:12 PM PDT |
| Posted: 05 Jun 2020 11:34 AM PDT The Problem: esports is a saturated market, every 16 year old wants to be a pro-gamer. As an esport org, how do you find the legitimate super stars stand out? In soccer, there are scouts that go to games and find raw talent. If you are the raw talent, how do you stand out? How do you get that big break? The Solution: LinkedIn for esports. For the user/gamer:
For an e-sports org:
For the community:
Thoughts? [link] [comments]  |
| Has anyone had any success with a custom PC Building business? Posted: 05 Jun 2020 11:29 AM PDT I am looking into starting a Business involved in computers. Wondering if anyone on this sub has had any success or advice Building computers for people. how does your business model work? [link] [comments]  |
| Best way to create a website for my profile? Posted: 05 Jun 2020 05:25 AM PDT Hello, newcomer here. I want to create a website where I could show my art work (like an online gallery) and also a (monetised) blog where I could write articles about art skills and post my youtube videos I'm not sure what is the best option for this, should I go for Wordpress, Wix, Squareplace, or anything else? Thanks [link] [comments]  |
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