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    Friday, October 2, 2020

    Accomplishments and Lesson Learned Friday! - (October 02, 2020) Entrepreneur

    Accomplishments and Lesson Learned Friday! - (October 02, 2020) Entrepreneur


    Accomplishments and Lesson Learned Friday! - (October 02, 2020)

    Posted: 02 Oct 2020 06:11 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.

    submitted by /u/AutoModerator
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    Jack Ma is a fool

    Posted: 01 Oct 2020 07:10 PM PDT

    For context he is the owner of Alibaba. It's my biggest pet peeve when he get given time to talk at conferences and give stupid answers and even worse advice. He constantly says, "work hard"...Gee would never have thought of that, you changed my life. I can see why Elon Musk refuses to be on a panel with him again he has no expertise at all. Rant over, have a pleasant day.

    TLTR: Jack Ma is an idiot.

    Edit: Feel free to disagree but you know it's true.

    submitted by /u/Manwiththegolden
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    How did you become an entrepreneur? I admire you. But I can’t even think of an idea.

    Posted: 01 Oct 2020 05:52 PM PDT

    I'm a chemical engineering masters student.

    I took a class in entrepreneurship. I love it so much. shark tank and dragons den are like my favourite shows.

    But I can't seem to think of an idea. And on top of that I don't even know if my idea is good. I know my professor is looking for something profitable. But I feel handicapped just thinking of something original.

    I don't even know how some people make large leaps in connections like "let's extract a specific protein from a plant" or "I build a system for optimal conversion of a product".

    I can't necessarily build a lab and sell drugs in my basement. I'm trying to look to other avenues. But it just feels like everything has been solved. I don't know why.

    Any advice for someone who wants to be an entrepreneur but can't seem to find something to be passionate about?

    submitted by /u/Ptolemy222
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    Crossroads between pursuing my own business and getting a stable job.

    Posted: 02 Oct 2020 09:52 AM PDT

    I quit my previous job to pursue my own business(not quite started yet, but I'm doing preparations) got some money on the side to get started, but I don't know if my venture is going to be successful and when I'll be able to pay myself a salary. It is my dream though. An opportunity arose regarding my previous occupation and it could give me some financial stability now. But I don't think I'll be able to pursue my business if I do that.

    On one hand I'm thinking about getting that job to gather some more money before pursuing my own business again, on the other hand my heart says to screw the job opportunity and risk it. Not sure how to proceed from here, any advice would be useful!

    submitted by /u/GimmeSomeLiquid
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    Best tools for a new entrepreneur?

    Posted: 02 Oct 2020 11:17 AM PDT

    I have previous experience in business in a different country and am looking to expand into USA.

    I have a clear commercial plan, what I lack (and would be so appreciated) is help on basic tools for business. For clarification I incorporated in Texas.

    I won't have employees for at least one year and I will be working remote.

    Tips on tools for:

    • Invoicing
    • Bookkeeping
    • Fulfillment
    • Importing
    • Insurance
    • Any other thing I might be missing that is special to USA (taxes, legal, etc)

    Thanks so much!

    submitted by /u/BaraStarkGaryenSter
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    “High-ticket” side/part-time businesses?

    Posted: 02 Oct 2020 12:26 PM PDT

    Just curious if anyone here has a day job but sells something on the side/off-hours and make $1000 or more per sale? Could be a sale a week or a sale a month.

    submitted by /u/Str8UpHonkey
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    Do u doubt if you are even an entrepreneur!?

    Posted: 02 Oct 2020 01:49 PM PDT

    Today I was having lunch and thinking of Starbucks n how this one guy started it from one shop into this huge worldwide chain. And I thought what does it take to think and act on that level?

    How does someone go from one small business with few employees to managing franchises, and dealing with people, and suppliers, and machine manufacturers, n coffee suppliers on such a huge scale. And managing all these complex relationships and dealing with people.

    I get overwhelmed just with the idea, and I dont know what these guys have, but it is energy, drive and determination that not everyone possesses.

    We all want to make money, but maybe there are levels of entrepreneurs, cuz who the hell wants all that headache and stress in their life? We just want the success. Or me personally I just want financial independence. Which makes me feel I cant use that word to describe myself, esp when I compare myself to these brands that we all know, that started with one or two people.

    submitted by /u/don-p1etro
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    Business idea - FEEDBACK APPRECIATED

    Posted: 02 Oct 2020 12:24 PM PDT

    Hello my name is Klemen.

    Me and my team have been working on an idea for the past couple of weeks. This idea would target the people who like tk garden but don't have the time or space.

    Basically it would be a growing pod that would allow for active temperature, soil humidity, air humidity and light regulation. Because it would be meant for indoor gardening its size would be small so that it would fit cities apartments and studios.

    You would be able to grow herbs and smaller vegetables or some exotic plants that normally wouldn't be able to grow.

    We know that there were some successful kickstarter projects that solved a similar problem but none of them can regulate temperature or air humidity.

    I would love to get some feedback from the community before we progress.

    Thank you in advance.

    Cheers !

    submitted by /u/Martkle
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    I have a very good idea I believe in. Problem is, I don't know if I believe in myself and I'm afraid.

    Posted: 02 Oct 2020 10:37 AM PDT

    Hello entrepreneurs.

    I've got an idea about a business and I need to write my thoughts down to see if I'll be able to start it. To make it.

    Why I'm writing this:

    This is not a "hell yeah I made it!" or an "I have this great idea and I'm absolutely doing it!" kind of post. It is, in fact, something more like: "I have a very good idea I believe in. Problem is, I don't know if I believe in myself and I'm afraid."

    My sincere strong and weak points: (I'll try to be short and concise)

    • I am impulsive.
    • I am absolutely creative. I never run out of ideas. I have a notebook full of business ideas, marketing ideas, new ways to approach a product, etc.
    • I'm an avid reader and learner: I learn very fast.
    • I'm very good at visuals, words, languages, and viewing things from a new perspective.
    • Shiny objects syndrome: Every freaking time I get a new idea, I instantly reject the previous one, even if I was working on it.
    • I hate maths and numbers.
    • I don't believe in myself.
    • I am brave to do the unexpected and make that cold phone call, take a plane and meet up with someone I don't know just to get inspired by their story or offer a client/possible partner/whoever a challenging approach.
    • I spend money too easily, especially on dozens and dozens of courses (marketing, mostly) that end up saying all the same.
    • I am very organized and a very good planner. What a bummer I'm not a "doer" for more than two weeks.
    • I set high expectations for everything. Way too high.

    What's my current situation?

    • I don't have the money nor a job at the moment. I am 100% economically dependent on my husband and have been for a long time. By "a long time" I mean more than 5 years.
    • In case you haven't yet noticed my fantastic writing style, I am a bit depressed. (Already working on that with a psychologist)
    • I have a constant feeling of "being in a hurry". There is a feeling of urgency that tells me to "finally achieve something" and give back to my husband everything he deserves.
    • I feel lost. (Hey, isn't this when the super successful business ideas start? - Yep, that was me trying to make a joke-)

    The idea/opportunity:

    • I just thought about a special way to make and sell candles.
    • They are in high demand. (But there is also a CRAZY competition)
    • There is a high margin of profit.
    • I love the subject and the new touch I want to give it.
    • I already have a big studio place where I can make all the production.
    • The initial inversion is a very low cost.

    How do I know I won't stop (again) halfway?

    • What will happen when I don't make that instant success I daydream of?
    • What will happen when I feel lost once again without knowing what to do next?
    • What will happen when I feel I'm just wasting money (I don't even have) and time, again and again?
    • I see a pattern here. It is all about FEELINGS). If I stop, it will be because of my feelings. I haven't yet once asked about things like "What will I do if I don't make the minimum money required in X amount of time?" or "What do I need to do in order NOT TO stop halfway?" "How can I be absolutely sure I will follow my plan?"

    My faults

    • I am already thinking (daydreaming, in fact) about making lots of money. Instant success.
    • Perfectionist
    • Shiny objects syndrome.
    • I don't know if I believe in myself. I left so many things unfinished I am afraid to start something new.
    • I seriously don't know if I'm afraid of success, can't handle stress at all, or if I'm simply avoiding "effort".

    Brainstorming of possible solutions:

    • I have to understand myself: Why am I so obsessed with "success"?
    • Partner up with my husband or someone else for this project.
    • Plan 3 - 6 - 12 months ahead and have monthly meetings.
    • Weekly follow-ups.
    • Find an "accountability partner" who's also starting a business or is in similar conditions and want to motivate each other.

    The question I can't still answer is: How can I believe in myself with this baggage?
    Conclusions:

    • I am writing this in a fearful and desperate tone that can't lead to any emotionally intelligent answer for my part right now.
    • This is just a state of mind I am in and doesn't define me. I am not like this all the time so it's not fair for me to think of myself as a failure.
    • I rush things, so I need to slowly think about this project, get different opinions about it, and then decide.
    • Even as I'm writing these conclusions, I still don't believe in them (or myself) 100%. (aka, feelings are strong and bothersome as fuck).
    • I can't do it alone. Everything else I tried and I failed at, I did it all alone. If I want this to succeed, I better look for the best partner.
    • This has helped me organize my ideas a little. I think that's a good step.

    Thank you for reading. I just very seriously hope I'm not the only entrepreneur-wannabe-but-actually-mess-of-a-person that there is out there.

    submitted by /u/IChocolateDonutI
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    Profitable $50k Startup Businesses?

    Posted: 02 Oct 2020 10:41 AM PDT

    If you and a friend had a combined $50,000 to start up a business or side hustle, what would you do with it?

    submitted by /u/HunterKlipp
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    I don't understand why big companies continue to run ads...maybe someone explain

    Posted: 02 Oct 2020 12:42 PM PDT

    Advice on starting a cleaning business

    Posted: 02 Oct 2020 02:00 PM PDT

    I have been wanting to start a business for a while now and have always had an interest in cleaning services. I have enough savings to cover myself and business but needed some advice on how to capture those initial clients and what are the necessary equipment/tools needed? Im pretty open to most types of cleaning

    Any help would be much appreciated !

    submitted by /u/Jay9044
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    Who should I hire first?

    Posted: 02 Oct 2020 01:41 PM PDT

    Hi,

    I've been working as a designer for my entire life, trying to have a full time job and also run a design agency with a partner along with this.

    In the past months, our agency just exploded and now we have a stable income to run only the agency, having a good and steady cash flow.

    More than this, we plan to expand our business and want to hire our first employee. The question is ... who should we hire?

    We were thinking about hiring a designer and for us to move into the business side, or to hire a business dev/account manager to help us with clients.

    We are open to any suggestions and advices that you might have!

    submitted by /u/mitzanu2005
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    How do I find the right price point for new services I offer (when first to market)?

    Posted: 02 Oct 2020 01:40 PM PDT

    Suggestions on Adding Credit Card Billing Options

    Posted: 02 Oct 2020 09:35 AM PDT

    Hello!

    I am embarking on a small services company, that is taking into account our existing pandemic situation.

    In starting this, I will need to be able to accept credit card payments, as well as be able to invoice customers remotely, for them to pay via credit card through a web interface. In starting to look at the options out there, I'd like to know some outside experiences with these services, before I start sending various companies my contact information and end up being inundated with calls and emails.

    I'm not sure that I like Square, because of the fee per charge, but they don't see to have a monthly fee as some other charging companies have. Any suggestions? Things to be aware of or look out for?

    Thank you for your time.

    submitted by /u/Strange-Scarcity
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    What would you do with $250k?

    Posted: 02 Oct 2020 08:34 AM PDT

    The amount of money I mentioned is arbitrary and I'm not seeking advice of any kind. Just thought it would be fun to hear some answers from entrepreneurially-minded people.

    Say you had a large amount of $. Not enough to "set you for life", but enough to where you could do a lot of things with the $ to hopefully set yourself for life. My mind goes to $250k.

    What would you do? Open some kind of popular franchise? Fund a tech startup that you already have an idea for? Stock market?

    I think I'd use it to hire someone to grow my small business for me.

    submitted by /u/mkram9
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    SEO Case Study - I wrote this case study on how you can beat a giant like Hubspot in Google search

    Posted: 02 Oct 2020 03:25 AM PDT

    If you are into online marketing, you would notice how Hubspot hogs the top spot for so many of the search terms.

    In this case study, I studied one keyword that is highly competitive and talked to the company that outranks everyone else here.

    Keyword: Slack Alternatives
    Top ranking website: Chanty.com
    Keyword difficulty: 74% (according to Ahrefs)

    https://i.imgur.com/PzkrrQf.png

    So how did they manage this?

    Lesson 1 : Ranking on Google for your money keywords is a long, laborious project. Don't expect results overnight

    Chanty published their article back in 2017. And continued to work on SEO for over a year

    In fact, even after that as the next point will tell you.

    In SEO, things do not move quickly. You have to keep persisting till things start moving.

    Lesson 2: Constantly update your content. Even if this means removing fluff so the value you provide increases

    When Chanty published their article in 2017, they had review 4 Slack alternatives in their post.

    By early 2019, this had risen to 7 tools. An increase of over 1500 words.

    This post continues to be updated and was refreshed as late as March 2020.

    But here is the thing:

    It was not adding content for the heck of it. In the last six months, Chanty in fact optimized their article and the word count reduced by a few hundred words.

    So the lesson here is not just to update your article with fresh content, but to also keep optimizing it so that there is no fluff.

    Lesson 3: Build HIGH quality backlinks. And LOTS of them if you want to hit the number 1 spot

    This is by far the most impactful lesson as far as Chanty's success story goes.

    According to their CMO, they added over 100 guest posts over a span of one year - and that was the reason why they were able to rank #1.

    Again, it's the quality that matters - not quantity.

    Here are some guest posts that Chanty published with a link to their Slack Alternatives article:

    https://blog.hubspot.com/marketing/slack-alternatives
    https://blog.marketo.com/2018/01/5-things-weve-done-increase-organic-ctr-300.html
    https://www.process.st/team-chat-apps/

    Notice how top notch these websites are? Notice the quality of each of these articles? A hundred backlinks from such websites is the difference between Chanty and the others still struggling on the second page of search for such terms.

    The Result

    Ranking #1 for this term has brought Chanty thousands of visitors over the past 3 years - many of whom must have become Chanty customers since.

    https://i.imgur.com/tFcO63q.png

    You can read the complete case study on my blog: https://rafrador.com/how-chanty-beat-hubspot-and-medium-to-rank-1-for-their-money-keyword/

    Want to read more of such marketing case studies with real numbers you don't see anywhere else? Please subscribe to my newsletter here: https://rafrador.m-pages.com/OTQeTz/landing-page

    If you enjoyed this story, would love it if you can share it with your tweeple : https://twitter.com/anand_sriniv/status/1311976260441182208

    submitted by /u/rafrador
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    Social media Management

    Posted: 02 Oct 2020 12:00 PM PDT

    Instagram So I already made a post about me doing this not too long ago.

    I'm making this post on behalf of my friend who is trying to get into the same line of work. I'm teaching how to manage instagram pages and he's getting pretty good at it.

    His rates are extremely low as he lives in Albania where wages are low.

    He doesn't use Reddit yet (he's missing out) if anyone is interested, let me know.

    He charges $10 a day or $300 a month.

    submitted by /u/mirkohokkel6
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    Business credit card for amazon FBA

    Posted: 02 Oct 2020 11:45 AM PDT

    Hi everyone! I want to start selling with amazon FBA but I don't have a credit card (i am studying, therefore I cannot have one because I don't have an income) and hence I can't open a seller account. The business is pretty much figured out and ready to start.

    Is there a way to avoid using credit cards or convincing banks to give me one?

    What would you do?

    Thanks a lot :)

    submitted by /u/master_roshi_07
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    Amplemarket Lists: the best manually curated lists of companies

    Posted: 02 Oct 2020 10:49 AM PDT

    Hi Everyone,

    As Entrepreneurs we are always looking for our next customers. Part of that prospecting involves finding relevant companies to target. Today we're excited to launch Amplemarket Lists (https://lists.amplemarket.com) today, a repository of manually curated lists of companies! It's free and open to everyone. 🙂

    It has several manually curated groups of companies, like:

    ✅ Companies that launched on Product Hunt in September 2020

    ✅ 2000 that raised money during the pandemic

    ✅ Companies hiring on Hacker News in September 2020

    ✅ Dreamforce 19 Exhibitors

    Find more here: https://lists.amplemarket.com/

    Would love your feedback!

    submitted by /u/mgdo
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    Does anybody have advice for feeling confident when you're the youngest person in the room?

    Posted: 01 Oct 2020 06:46 PM PDT

    Today I (24/f) was in a Zoom meeting with a group of people who were all at least ten years older than me, working on a project with them as a business founder and subject expert. It was hard not to feel like the kid in the room and feel confident speaking up. I know this is a personal issue I need to work through, but I thought I'd post here to see if anybody has advice for feeling confident in business when you're the youngest person in the room.

    Thanks so much :)

    submitted by /u/green-meow
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    Advice for path forward for physical product idea

    Posted: 02 Oct 2020 09:34 AM PDT

    Hello Everybody,

    So I have an idea for a product in the clothing category that I will get to below.

    First quick background: Last year I became a father and while watching my little one grow I kept finding myself stating a particular problem with baby/toddler clothing. I searched high and low on Amazon and Google looking for infant clothing that had a particular feature, but could not find a single product to purchase.

    Now I'm pretty handy and am an engineer by trade, so this lead me to start thinking this could be something I could draft up and design myself on the side. And I'm currently in the process of working a prototype mockup by altering outgrown outfits from my daughter. Once finalized I could easily format a drawing for a manufacturer calling out seam patterns and putting a bill of materials together.

    I have a great 8-5 job that I'm happy with and this project is currently a side thing during free time. I know I can go down the path of working on a patent, reaching out to manufacturers, deal with setting up packaging, and setting up an ecommerce site/amazon seller account, I don't know marketing but I suppose I could outsource it - but is this something I REALLY want to get into? I certainly would quit my 8-5 job if I had stable income from running an ecommerce site.

    The advice I'm looking for is what are my best options forward if I wanted this to provide a reoccurring source of income? Could I continue with the design, prototyping, then working a patent and still make money off my idea - sell the patent with royalties possible? Or is it best path forward to pull the trigger and try to run my own ecommerce business with hopes this would be my new career?

    I know this is reddit, so I'll take advice lightly. But looking to see if anybody else can share their experience and/or lessons learned from their mistakes.

    submitted by /u/RobbieMichaels
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    Funding Sources/Accelerators for Student Entrepreneur (and Female Entrepreneurs)

    Posted: 02 Oct 2020 09:07 AM PDT

    Hi! I am currently a college student and the founder of QBuddy. I am looking into funding sources and I was wondering if anyone has any advice about where to start- I know that there are a lot of resources for both student and female entrepreneurs but this is all new to me so I'm having a little trouble navigating. Any help would be appreciated :)

    submitted by /u/QBuddyFounders
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    Looking to increase sales volume.

    Posted: 02 Oct 2020 09:01 AM PDT

    Hi all, I am looking for someone who can help me Increase my sales volume on my partnership .com channels. My company sells Jewlery on sites like Macy's, kohl's and Walmart and many more.

    The only issue is that I cannot track any ad spend on my listings since the retailers have most of the control on the listings......The only thing I would be able to track and analyze is sales since we ship them directly to consumer on behalf of the retailer.

    Any recommendations?

    submitted by /u/mobizzel13
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    How do I fire someone nicely?

    Posted: 02 Oct 2020 08:56 AM PDT

    She is the sweetest girl. She's competent in the skills needed. However, she keeps getting fired by clients. I assign her new accounts but just this week, she was fired by 3 out of the 4 clients!!! Luckily, all have just asked for someone new to handle the account and not fire the business altogether. She's so sweet, I don't want to sound like a robot letting her go.

    submitted by /u/DuchessCDM
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