Accomplishments and Lesson Learned Friday! - (September 25, 2020) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (September 25, 2020)
- How to find people who balance your strengths, and bridge your weaknesses.
- Which name do you like better? TastyEdits, VideoForged, or MyVideoEdits?
- Book recommendations
- What does your ideal day look like?
- Advice for 37 year old entrepreneur
- Easiest and most effective way of keeping track of inventory?
- Wedding Venue Idea / Help
- To open Boxing/Muay Thai hybrid gym during covid?
- Pursuing a Master's in Business and Entrepreneurship? Worth the costs?
- Is it important to you that your clients or customers save your contact details in their phone?
- If I want to create a website, do I have to be an llc or can I be proprietor?
- Service businesses I can do in the winter?
- We are About to Arrive
- What's Open Beta
- Position as an employee
- Tools for easier work life
- How can I automate bank transfers?
- How to deal with losing an early customer?
- How to mail product?
- Collaborative Start Up Guide
- What should my business model be?
- What were you doing at 15 years old? (Teach 'em young)
| Accomplishments and Lesson Learned Friday! - (September 25, 2020) Posted: 25 Sep 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]  |
| How to find people who balance your strengths, and bridge your weaknesses. Posted: 25 Sep 2020 04:55 AM PDT "EPAI" stands for Entrepreneur, Producer, Administrator, Integrator - a perfect mix of personalities to start and run a successful company. The framework, initially coined by Bill Gross, has not resonated with me. Well, until I heard Shaan Puri's explanation. It's so good that I feel compelled to surface it from the episode and share it. The story goes as follows: You're sitting in a classroom. One kid looks out the window, sees the grass outside and says
This guy is a pure E. The idea machine, the person who comes up with the vision and sees the pain points that can be solved. E may not be the best person to execute it though. Coming up with an idea and following through are often very hard to accomplish by the same individual (but you can easily find lots of examples where this statement seems untrue). Here comes the P - Producer
Producers are good at downloading the vision. They take words and turn them into action. They provide input, create the masterplan and execute. But that's still not enough to take success for granted. Now, there's that third guy that says
The Administrator is someone who seeks order in chaos. "A" sees the high volumes of different actions and tries to turn them into repeatable processes and playbooks. Maybe they don't envision new products nor create them - but companies can't scale without a good Administrator in their executive board. It seems like we got everything we need, so who is this "I" person? That guy hasn't even looked out the window to see the place for the parking lot. He would just stare at the three other people and say
Integrators are amazing people capable of figuring out how to make groups cohesive, how to get alignment within the team. Quick example: When Administrator says
Integrator chimes in
That's it. That intuition helped me a lot to understand my position in our company. Also, I internalized many mistakes I've done by blaming people of not doing things they're not built for. I hope you find it helpful too. Again, a big shout out to Shaan Puri and MFM podcast. What you just read above is a mix of my manual transcription efforts and own interpretations. Thanks for reading! You can find me on Twitter :) [link] [comments]  |
| Which name do you like better? TastyEdits, VideoForged, or MyVideoEdits? Posted: 25 Sep 2020 10:48 AM PDT Hey everyone. I'm trying to come up with a name for a video editing service for individuals and brands. I want something that is somewhat self-explanatory, memorable, brandable, and professional. These are the 4 I've come up with so far (forgot to mention VideoForge in the title.) What do you think? Additional suggestions are welcome too! [link] [comments]  |
| Posted: 25 Sep 2020 11:17 AM PDT Could anyone recommend me a book that really taught you and inspired you about entrepreneurship in the modern world, thanks in advance! [link] [comments]  |
| What does your ideal day look like? Posted: 25 Sep 2020 12:09 PM PDT If money or time were not a problem, what would your ideal day be like? I am curious about the ideal day of my fellow entrepreneurs and I am writing a book :) The more specific the better! Hear, see, touch, taste, and smell haha. [link] [comments]  |
| Advice for 37 year old entrepreneur Posted: 25 Sep 2020 01:50 PM PDT When I turned 33 I won a huge contract overseas that would have me financially independent. However, the client did not honor the contract and I been struggling ever since to make a stable income. I used to run a digital marketing agency, so the only skill I used to have is PPC, (Google ads) but I been off that industry for so long with all the updates in paid search I dunno if Im still any good at it. I dunno what to do as I feel I have no skills to offer the market place and no business idea I can start. Apart from selling my things on ebay I dont have any other income and dont know how to create a stable income. constructive advice is welcomed. As I feel stuck. [link] [comments]  |
| Easiest and most effective way of keeping track of inventory? Posted: 25 Sep 2020 01:15 PM PDT I need an easier way of keeping track of my inventory for my business right now I use an excel spreadsheet of what inventory I have and where it came from. Any suggestions for a more productive or easier program to use? I would love to hear your thoughts [link] [comments]  |
| Posted: 25 Sep 2020 12:32 PM PDT Hey guys, I just joined this thread due to a 3year old post that I read through about a wedding venue start up. I have been doing quite a bit of research, but I still have so many questions that I hope someone here can answer. Before I start I would also like to say I do not plan on starting multiple venues. I want to run this one myself with my family, and when I have kids if it's successful pass it down to them. Starting off, let's say I have no money to put down. This is not the case, but I like to look at everything in a worst case scenario. Anyways, I have nothing to put down and I want to start a wedding venue. Where I live (Tennessee) is perfect for a venue since there is plenty of land/mountains that I can design my venue around. My goal is to buy land and build a barn with two little barns for the bridesmaids and groomsmen to get ready. My biggest issue is I don't know where to start or what price range I would shoot for loan wise. I am not sure if a loan is where I even need to start. I have found about 5 acres of land for around $45-50,000 and the average barn costs about $70,000 to build. I was estimating in total for everything around $250,000. I also do not know about the business side. Do I have to get an LLC or can I just use my property as a venue? I have so many questions I do not want to fill up the forum, so if anyone can give some advice/real life instances it would be great. Thanks! [link] [comments]  |
| To open Boxing/Muay Thai hybrid gym during covid? Posted: 25 Sep 2020 12:22 PM PDT Hey all, I've been training for about 20 years now and have a wealth of knowledge behind me (and definitely more to learn!). I have come across a really good opportunity, I'm in NY specifically the Lower Hudson Valley and have a location that a family member is part owners in. I don't have a price on rent, but I'm confident that I can get a good deal on the lease & rent pricing at least. My only concern is how afraid people are of Covid right now and won't go to the gym and/or won't sign up for a membership right now, and what may happen if there is a second wave that gets everything shut down again. I've done a small amount of market research (showing me that people are in fact afraid) and plan on doing some more extensive research. I know that businesses in that plaza are having a hard time at the moment. I've got student loans to pay off and probably the regular debts that everyone else faces that I need to factor in to my bottom line. We're starting from scratch, with little to no equipment gathered but I plan on opening with bare bones equipment (mats, bags, pads & gloves to merchandise, some KB's, pull up bars, jump ropes, bosu balls & 1/2 balls). My question is, do you guys think it's worth capitalizing on the opportunity in front of me and ride the wave of suffering (like everyone else in the area) or wait it out until things normalize? [link] [comments]  |
| Pursuing a Master's in Business and Entrepreneurship? Worth the costs? Posted: 25 Sep 2020 08:26 AM PDT Hello r/entrepreneur, I'm currently considering a master's degree (MBET) on a part time basis here at the university of Waterloo in Canada. I recently moved to the city and started at a small business here in town in the industrial technology space. My lifelong dream is to run a lifestyle business that has a positive impact on society. Currently I have about $35k saved that I could use towards the tuition of this program over 3 years. My girlfriend is self-employed as a travel journalist, successful before the pandemic, things are very slow now. My question to you all is how useful you believe such a degree would be for meeting potential cofounders or starting a business? I'd appreciate any feedback from those who have considered such degrees in the past or are familiar with this program. Would it make more sense to network organically trying to find cofounders on platforms such as angel.co and using my free time and capital on that instead of paying the tuition? I have an undergraduate degree in business already and a few years of sales experience in a number of b2b contexts. Cheers! [link] [comments]  |
| Is it important to you that your clients or customers save your contact details in their phone? Posted: 25 Sep 2020 02:45 PM PDT Is it important to you that your clients or customers save your contact details in their phone? If your clients save your info anyways then shouldn't we try to make what they save about us useful and if possible branded? [link] [comments]  |
| If I want to create a website, do I have to be an llc or can I be proprietor? Posted: 25 Sep 2020 02:22 PM PDT My idea is website like instagram with marketplace attached. I'd make money off middleman transactions It will be operated by me but can I stay as proprietor or must go llc? This is for tax, protection, legal [link] [comments]  |
| Service businesses I can do in the winter? Posted: 25 Sep 2020 02:21 PM PDT I have owned and sold a service business already, but it worked year round. I currently have a marketing agency that I do on the side, but I love service businesses and want to start another. I live in Vancouver, where it rains for 6 months straight. I've done some research but I can't think of any solid service businesses that would thrive and be in demand during 6 months of rainfall. Outside would be best, because I actually like working in the rain. Any ideas? [link] [comments]  |
| Posted: 25 Sep 2020 02:17 PM PDT After 7 years living the work-visa only immigrant life, my partner and I are finally going to get our Green Cards next year (albeit in a different country) and we want to lay the stone for our entrepreneur dreams. As we brainstorm this newfound freedom, we realize that we have a lot of dreams but they may be tough to realize from a profitability perspective. We want to eventually open a gym or a brewery or a cafe — ideally all three. What's the best order we should go about targeting these from a time to profitability and scale of profitability perspective before we can move on to the next one? Any tips that you could give us? We are flirting with the idea of both of us quitting our corporate jobs to jump right in into this, and or one of us keeping our jobs until we have enough revenue from one of our ventures. [link] [comments]  |
| Posted: 25 Sep 2020 02:02 PM PDT Hey guys would really love your feedback for my latest project, What's Open! This is the most painful part but CC is the only way to get anywhere in life. What's Open Beta: https://testflight.apple.com/join/GkJGBr0m Here's a little more about the project: https://www.instagram.com/p/CFI1rcGnb4x/?utm\_source=ig\_web\_button\_share\_sheet [link] [comments]  |
| Posted: 25 Sep 2020 01:30 PM PDT My father, brother and I own a courier service in our town. Due to the constant rise of e-shops, work has been rising at a very steady pace. But recently one employee started shitting on the schedule , salary etc. which prompted me to confront him about the reason he was unhappy (for the lack of a better word). This promted me to contemplate on the constanst struggle and feud between the employee and employer ideology and mentality. "Capitalism" vs "Marx's ideology on work". Why I feel there will always be a grudge by an employee against the employer ? We are (in my judgement) good and honest employees but I always feel like we are in a struggle to keep every employee happy by extra means and keep tip-toeing on egg shells cause employees will hold a grudge. Feel free to share and compare ideologies. [link] [comments]  |
| Posted: 25 Sep 2020 12:49 AM PDT Just thought I will share with you guys some software I use to make my life and work a little bit easier (most of them are free): - NordPass for keeping my passwords safe, strong and in one place - Google Docs, this one is nothing special, but it is perfect for working on files with multiple people - Asana, at least for me it is perfect for managing projects - Slack, for communication with colleagues - Headspace, for giving myself a meditation break which is really important - Canva, well this is not for everyone but I use it to create simple social media posts or for my linkedIn posts to look more cleaner and just better - Typerform in case I need to create a survey What are the tools that you use in your work routine? Really appreciate some suggestions [link] [comments]  |
| How can I automate bank transfers? Posted: 25 Sep 2020 01:18 PM PDT Here is my scenario, I want businesses to sign up to my platform, their customers also use the platform to pay the businesses for services. Money paid would get transferred to my account, and I then pay the businesses from my account. I'm just trying to work out what my options are, and looking for suggestions for doing this. I looked into Stripe Connect and don't think this will work for me. I could collect money through Stripe/Paypal, but would need to wire the money into the relevant business accounts This will mean I would need to store the businesses Bank account and sort code, which as far as I'm aware there is no issue with, no need for PCI compliance. (This is for UK btw) Ideally I would like to automate wiring into the bank accounts - what are the options here? Thanks [link] [comments]  |
| How to deal with losing an early customer? Posted: 25 Sep 2020 01:07 PM PDT Hey all, By the title, you can assume what my issue is. We operate as a SaaS product for small businesses. One of our early clients was a salon. The receptionist of the salon really didn't like our product and convinced the owner to drop us. We had her pitching the program to their customers as they left and she felt uncomfortable doing that. She convinced the owner we were cheapening their brand doing so. I gave alternatives that were less direct ways of marketing but his mind was made up. We were only operating for 2.5 weeks when they decided to pull the plug. I'm wondering how I should take the feedback? The owner told me we were too early stage for them and our business model didn't align with theirs. Has anyone had a similar experience? I'd love to hear your story! [link] [comments]  |
| Posted: 25 Sep 2020 12:28 PM PDT Hi guys! I have a quick question that no one can seem to answer lol, how do I mail product to my customers without them having my address? To mail from an LLC I was told I can not use a PO Box, but I'm not sure how to cover my address? [link] [comments]  |
| Posted: 25 Sep 2020 12:08 PM PDT Hey, I started this Collaborative Start Up Guide) , My vision is comprehensive resource with all knowledge possibly could gathered by many people about startups. I would like your help to improve this resource, I know your opinion about this project and Join the Slack for discussions about the project. Thank you very much. [link] [comments]  |
| What should my business model be? Posted: 25 Sep 2020 11:23 AM PDT Hi, I'm trying to make an educational physics videogame, here is a trailer explaining the idea: https://youtu.be/w0Ipu7rbdoI Is kinda like a nich game, a productivity app for physics/math/engineering students to make them motivated to study what they need to study. So how can I make money so I can work on this? My idea is that you have something that is popular in a niche, you post it or buy ads, it takes you to a landing page, and there is a buy button. But right now I don't have anything to sell, is a big long proyect. I was thinking of something like a patreon or kickstarter. I already managed to get 1 patreon (a total stranger). So my idea is something like this: create content, post it, it takes you to a landing page that asks your email. Then I have a mailing list of interested people, I can send them more content and ask them more things beside their email, and eventually ask them if they want to become patreons. The content I was thinking is youtube videos that are short tales of the protagonist of the game, a wizard physicist. So if the narrative is interesting and leaves you in suspense then they will subscribe to the youtube channel, and they will click the link to the landing page. And at the end of the video I can ask for patronage. Also this will help me iterate on the content to make it more appealing. What do you think? What else could I do? I wish I had a product that I could just sell. I'm a little lost. Thanks. [link] [comments]  |
| What were you doing at 15 years old? (Teach 'em young) Posted: 25 Sep 2020 10:36 AM PDT Start that entrepreneurial fire while they are young. My son just texted me a picture of a huge box he received from Amazon with the caption "MY STUFF IS HERE!". Like a kid on Christmas he ripped open the package and picked up each item with glowing eyes before grabbing the next item. He's been waiting a whole 2 days for it to arrive (so 2020). He didn't open a video game, new pair of kicks, or the latest WHATEVER kids are into these days. He opened a box with $100 worth of Car detailing supplies and tools. A brush, a bottle of wax, and other thing-a-ma-bobs. Over the summer he started a car detailing business and it took off big time. He cleaned multiple cars 6 days a week (we made him take one day off a week). Glowing reviews from every client who would then by word of mouth book him even more clients. He loves what he's doing and making a killing. He's 15 years old. When I was 15 I spent every penny I had on video games, pizza, and sneakers with an air pump. The fact that this kid is EXCITED about items he purchased to USE ON OTHERS AND EARN MONEY, tells you something. Get them into smart habits early. Teach 'em to work hard and reinvest the earnings. The way he's going, I'll be working for him soon.... [link] [comments]  |
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