Accomplishments and Lesson Learned Friday! - (October 30, 2020) Entrepreneur |
- Accomplishments and Lesson Learned Friday! - (October 30, 2020)
- Why is it so hard for business owners to let go? How many of us have someone in our business that we KNOW needs to go, but we haven't done it yet?
- SERIOUS: E-learning market size is projected to reach $375 billion by 2026. I am starting a blog about online degrees from U.S. How can I grow from that blog to a legit business, to take a good share of E-learning pie?
- Hype doesn't pay the bills - The Real Thread
- What KPIs do you have for your business? How do you keep track of them? How often do you check them?
- Running a "startup" at 17
- How does Amazon dropshipping work?
- Act like a Small Business!
- [CROWDSPARK] - Connecting professionals with startups, founders, and causes. Entrepreneurship Crowdsourced. [Live Beta Launch Today!]
- Opening up a head shop in a newly recreational state
- I raised $12000 on via crowdfunding in 2 months to build a tabletop company
- Question: Can I, as a relatively poor person with only about 30-40k to my name in cash and assets, but with a fantastic credit score (800ish), get a loan to purchase a franchise?
- how accurate. is paypal insight sales?
- What kind of insurance would be needed for a mobile teambuilding/entertainment company?
- can two companies have the same name?
- Am having the feeling its now or never
- Sell Your Service Work Above Market Rate
- Evan Carmichael: How to Get Started!! You don't need a private jet for your dreams to take flight!
- Feedback on my new site.
- What are the best marketing tips for young entrepreneurs
- I am looking for a lead management tool
- What to do about clients that reach out to you and then ignore you.. getting really discouraged so need your advice
- What kinds of things/product you can build in Data Science and Machine Learning ?
- Useless Inventions: Is Your Product A Solution In Search Of A Problem?
- What are some things to know/be aware of when paying someone to build your site?
| Accomplishments and Lesson Learned Friday! - (October 30, 2020) Posted: 30 Oct 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: 30 Oct 2020 08:25 AM PDT My management and leadership style has always been lenient. It's always been "If you have my back, I'll have yours." Up until this point, it's been extremely beneficial for our business, and customers. We've positioned ourselves as the #1 House Painting company in our area, with over 250 Five-Star reviews - we provide an excellent service and our customers are always extremely happy with us. I'm an "Employee First" Business owner. This essentially means, if I take really good care of my team, they'll take really good care of my customers. In theory, this works great if the following is true:
I've learned in my 7 years of management, If any of these 3 values are FALSE, that's when the problems occur. When an employee starts to trade their appreciation for expectation, there's a noticeable decline in their overall motivation, workmanship, and standard. The caring business owner has a keen responsibility to ensure the happiness of his team - to manage the 3 essentials listed above (Within reasonable capability - Remember, a happy team creates happy customers) However, there will always be a time where someone does not appreciate the opportunity, feels under-valued in terms of pay, has outside stressers that effect performance, and loses their motivation to either achieve something personally, or ascend within the organization. Someone who was once a rockstar, could easily turn into someone that is a detriment to your brand. A friendship built with an employee after so long, now becomes a bottleneck in the flow of the organization, which means:
The truth of the matter is, if your gut is telling you it's time to let someone go, you need to let them go. It doesn't matter if this is a supervisor, a manager, a top salesperson… Although it may cause a rift in the system initially, you're much better off without their negativity, poor performance, and lack of care. Too often, business owners keep people around for way too long. Either fear, or guilt is what stops them from doing so. Chance after chance, they refuse to make it right. Until eventually it gets to the point where the standard is completely dropped, and you're the one left picking up all of the pieces because of a decision you should have made a long time ago. I used to be afraid to let people go:
All of these questions are good, however, they shouldn't create a stronghold of fear around making a decision that's in the best interest of:
My advice +TL/DR: Let go*****. If there's someone in your organization or business that needs to go, make the decision to let them go. In most cases, this will free them to pursue other opportunity, and more importantly it will free you to give someone new an opportunity to thrive.* Edit: This post isn't for "justification". Business is tough, and the decisions that come with owning a business are tougher, especially letting people go. I love my employees, there's no greater asset to my organization than the people who work everyday to ensure our success. All resources were exhausted in this scenario, and the other ones that have happened in the past. I've had multiple conversations, sit downs, and discussions...I always attempt to do whatever I can before the inevitable "let go" happens. If you're that interested, I actually did a Podcast episode on this exact scenario, which you could find here. [link] [comments]  |
| Posted: 30 Oct 2020 08:33 AM PDT Would like to hear from entrepreneurs here on a step-by-step approach. Thank you all in advance. [link] [comments]  |
| Hype doesn't pay the bills - The Real Thread Posted: 29 Oct 2020 05:28 PM PDT So, I totally get the entrepreneurial spirit and it seems that Reddit is considered fertile ground for organically growing personal brands, but r/Entrepreneur is getting awash with many of the same posts. Hype doesn't pay the bills... Revenue means precisely zero, so don't accept people boasting about their revenue numbers without mentioning their net profit margin. Here's how I grew my shopify site to 10k revenue per month, how does that mean anything without knowing the cost of the 10k revenue in advertising etc? Most of these people seem more interested in selling advice or pushing their Youtube channels than answering serious questions. A little piece of history I found interesting was that in my country during the gold rush, very few people found enough gold to make their investment of time worth it and even fewer made their fortune, know who did make money? The stores selling shovels and pick axes. Learn to see when real advice is being presented and when someone is just interested in "selling you a shovel"
But my all time number 1 rule: LEARN TO SELL IN PERSON Whether you are meeting with a customer, an investor, the bank, your potential significant other, your ability to make a pitch will define your success. I used to be an Introvert, but I decided success is better than a comfort zone. [link] [comments]  |
| What KPIs do you have for your business? How do you keep track of them? How often do you check them? Posted: 30 Oct 2020 09:16 AM PDT I'm looking for some inspiration to set my KPIs, so I'd like to know what KPIs are popular, and also ways of keeping track of them. Manually checking seems frustrating, and also it would be nice to have some historical data to compare to, but I want to have as less administration as possible. Also, how often do you check your KPIs? [link] [comments]  |
| Posted: 30 Oct 2020 07:07 AM PDT Hello r/Entrepreneur! I have been documenting myself for the past year regarding the "startup" world and finally decided to give it a try. I started a daily email newsletter for competitive programming / techincal interviews. The website is up and running and i managed to get 1100 views untill now by posting on different forums(Codeforces, Topcoder, subreddits) with 200 of them subscribing. However, I feel that i am rapidly losing traction(150 users in the first day, then 40 and 10 today). Is there a way I could atract more users to the website? I do not have the money for ads, so i tought that maybe I can offer a free course to users that invite 3 friends to the website( I read about this tactic in the growth hacker book). Also, I feel that the majority of my users are not the type to buy a premium membership, or an online course. Are there any ways of monetizing my startup? If you want to check it out, the website is thedcq.com. Please feel free to give me any feedback good or bad! [link] [comments]  |
| How does Amazon dropshipping work? Posted: 30 Oct 2020 02:21 PM PDT Not in the sense that I send Items from manufacturer to buyer, I would buy the Items in bulk, test a few out for functionality and quality and then try to sell them on Amazon. Question is.. how easy is it to sell on Amazon as an Individual (rather than a company) And secondly is it possible for me to ship my Items straight to an Amazon Warehouse and have them take care of the shipping? (Would these Items if shipped to an Amazon Warehouse be eligible for Prime?) [link] [comments]  |
| Posted: 30 Oct 2020 02:11 PM PDT Usually the goal of every small business is to become big some day, say a corporate that serves a large number of people repeatedly on a huge scale. Therefore small businesses are told to and they try to imitate how corporates act. However, it is the other way round; today corporates are trying to act like small businesses. That is the need of the hour. Why? Because following are the things that you will get only from a Small Business. You can't get these from a Corporate:
A good small business is indispensable, someone that you would miss if not available. They are an important part of someone's day or someone's business or someone's life. That is not easy to accomplish. You are not going to accomplish it by simply producing something that a Corporate can produce about a couple of dollars cheaper. You are going to accomplish it only by touching and enhancing the lives of the people. There is something about what these small businesses do and how they do it that really connects with people and that is the basic human need. "A small business is an amazing way to serve and leave an impact on the world you live in." -Nicole Snow [link] [comments]  |
| Posted: 30 Oct 2020 10:17 AM PDT Hello All! Crowdspark.org is dedicated to connecting passionate industry professionals with founders, entrepreneurs, and startups to form long-lasting teams to make things happen. The idea is simple. There are many would-be founders out there with great ideas and partial solutions/products. However, they often lack the skills needed to take the first steps. Likewise, there are professionals across all disciplines that are looking to be a part of something they care about. Crowdspark is about connecting these passionate professionals with these passionate founders to form lasting teams to start businesses and advance causes. Crowdspark started as a simple sub here on reddit r/Crowdspark only a year ago. Overnight its use exploded and it was clear that there is a real need for something like this. A few of us got together and started the Crowdspark Development Project and our Beta version of Crowdspark.org goes live with this post! The beta Crowdspark platform features:
Crowdspark is not a large corporate project backed by large institutional investments. Instead it is literally a group of people with some limited web development skills that got together to try to make something great. It is something for the people, by the people. Crowdspark is about crowdsourcing entrepreneurship. Its about bootstrapping and failing fast, early, and up. That's why its super appropriate that we got our start as an informal side project! This is a beta launch. There will be bugs. Some things may not work. However, its all about creating something great together as a community for us to use. If you want to learn more about the Crowdspark project: Please see our first podcast at the below link where some of the founding members discuss the vision and where we are. If you are interested, please feel free to head over to Crowdspark.org, make a free account, and take a look around. Make sure to provide any feedback using the floating feedback button on all pages. A little something for your early support: We need to fund the project somehow so we decided that the posting of classified ads would have a nominal fee. However**,** because we got our start with your early support, we are offering a coupon code that should allow the people who sign up over the next 30 days and keep their account active to have this functionality for free for the life of their account before we lock it down behind a pay wall. The code is: c96mg6gg (applies at classified checkout, please don't lose it!). Thanks! The Crowdspark Team [link] [comments]  |
| Opening up a head shop in a newly recreational state Posted: 30 Oct 2020 01:47 PM PDT This Tuesday 5 states are voting on recreational marijuana. What are your thoughts on opening a head shop in one of those states? Possibly near a large college campus? For those in the industry any tips or helpful advice you can offer? [link] [comments]  |
| I raised $12000 on via crowdfunding in 2 months to build a tabletop company Posted: 29 Oct 2020 09:01 PM PDT Hi everyone, I was completely new to crowdfunding a few months ago when I decided to pursue my passion to start a new business line in booming tabletop game industry. With just 2 months of marketing & community building I managed to launch a cute card game with Sci-Fi Dogs that got funded in less than 2 hours on Kickstarter. If you're interested to learn more, I'll write up a full article on it in the coming weeks. Link: Alien Puppies Card Game [link] [comments]  |
| Posted: 30 Oct 2020 01:10 PM PDT Ideally an urgent care franchise. I don't plan on practicing in it, because I am a doctor but I'm not licensed. [link] [comments]  |
| how accurate. is paypal insight sales? Posted: 30 Oct 2020 12:48 PM PDT like if the number pull from there is say 150k. how accurate is it? that is suppose to be the total revenue. i think it hasn't adjusted for paypal fees, maybe shipping cost, and cogs so what would estimate for someone with that amount be for net? i know it varies depending on a myriad of factors but i'll like to have an idea. if not accurate, what is missing? [link] [comments]  |
| What kind of insurance would be needed for a mobile teambuilding/entertainment company? Posted: 30 Oct 2020 12:33 PM PDT So, I'm starting to get quite a lot of bookings for teambuilding activities, and it looks like the wintertime (God willing) isn't going to be slowing down for me anytime soon. As I accrue more income from these gigs ( which can range from teambuilding stuff like murder mysteries, to DJ entertainment and karaoke) the more activities I'd like to add on (laser tag, GPS games, hiking, food & bev games). Is there anyone that can point me the way to any sort of specific coverage I should be looking to get? If anyone can help, thanks! [link] [comments]  |
| can two companies have the same name? Posted: 30 Oct 2020 08:20 AM PDT hey all. so i'm not too sure if this is where i even post but basically i'm lost. i'm trying to google, and coming up with a bunch of legal mumbo jumbo i do not understand, and i recently started a makeup brand, and some girl dmed my brand on instagram, saying she owns the right to the "brand" ? she operates in california while i'm in pennsylvania. from what i understand i should be okay as long as we aren't operating in the same state, correct? [link] [comments]  |
| Am having the feeling its now or never Posted: 30 Oct 2020 12:03 PM PDT I(30f from Manama, Bahrain) have been into the business of buying and selling natural raw rubber for 5years now. I buy from Thailand mainly and Indonesia and sell in Kuwait to tyre, shoe and wetsuit companies and it has been rewarding monetarily and otherwise. Presently its also not stressful as I have an office and one employee but I simply get mails from the farmers informing me anytime they have stock available for me and I look up industries who need the product, apply and negotiation. I have been thinking of taking a step further by investing in production of shoe soles and boots while I still sell. I know it will not be easy starting up but am having a feeling its now or never as I do not want to be the mum and wife that isn't there for her family when the time comes. Don't get me wrong, I have no plans to be a stay at home mum but I don't want to be too much in work. Advice is welcomed [link] [comments]  |
| Sell Your Service Work Above Market Rate Posted: 30 Oct 2020 11:43 AM PDT In business many people fall into a trap of focusing on what is important to them or what they think is important to a potential customer and they accidentally crete an unnecessary barrier to growing their business and selling at the best price. The critical moment to capitalize on is when a customer initiates an interaction with your business. At that moment a customer has taken action as is in a buying mood and ready to make a purchasing decision. Most service business fail to realize how critical this moment is. Many even fail to interact with a potential customer in this critical moment. That potential customer just had their first interaction with your business whether you participated or not. If a business does interact with them at this critical moment, they can say and do a few things that start a process that make the customer start to decide on your business before price is ever introduced. Generally speaking responsiveness sells work more then price. I recently elaborated on this in this recording. https://worthbuilding.podbean.com/e/oct-28-2020-1315-1603909358/. [link] [comments]  |
| Evan Carmichael: How to Get Started!! You don't need a private jet for your dreams to take flight! Posted: 30 Oct 2020 11:35 AM PDT An interview with entrepreneur extraordinaire Evan Carmichael So Start!!! [link] [comments]  |
| Posted: 30 Oct 2020 11:17 AM PDT I've had my site up and running for about 3 weeks and it's getting a steady flow of people visiting and a few sales here and there. I would love some feed back on how the site looks and feels etc. ( bad or good). [link] [comments]  |
| What are the best marketing tips for young entrepreneurs Posted: 30 Oct 2020 11:04 AM PDT |
| I am looking for a lead management tool Posted: 30 Oct 2020 10:42 AM PDT I am looking for a lead management tool I am on the lookout for a lead management tool that will let me add and manage leads from different sources. I work for a startup that deals in PowerPoint templates. We basically cater to business professionals. I am responsible for reaching out to relevant writers and journalists that write about business productivity, business communication etc. so that I can build some relationships. These writers (let's call them leads) can be found through various sources. I may search for an article on a particular topic and then note down who wrote it. Or I may simply search on LinkedIn. So, I am looking for a tool that will help me integrate all my leads from different sources i.e, linkedIn,Google search and others. I want them to appear in a single list, from which I can decide who gets an email and who doesn't. It would be great if the tool has some automated feature to send follow-up mails as most of my emails are cold emails and follow-ups are essential. Sometimes, I may not have a lead's email ID. In that case I will have to contact them through LinkedIn inmail. So, it would be great if I could control that as well. A tool that is integrated with sales navigator or something similar? I know it's a lot to ask. I understand that it may not be possible to find a tool that is inclusive of all the aforementioned features. Any help would be appreciated. Thanks in advance. [link] [comments]  |
| Posted: 30 Oct 2020 10:38 AM PDT Hey guys! So I started doing freelancing for web design a couple of months ago and I really need your advice. I keep running into clients that seem so interested in getting a new website and ask for my info and everything but then when I contact them about it, they just don't reply to me. I get that people are busy and I did expect this to happen when I started freelancing but I just didn't think it would happen this often. The majority of my leads do this... I get so excited since they seem serious about getting a new website and then I'll reach out to them to discuss it more in depth and they just never get back to me. How do you guys deal with clients that do this? Do I keep calling and emailing them? I don't want to be annoying but I really want to do their website and just don't understand why they change up so fast. Any advice would be appreciated because I'm really starting to get discouraged about this whole freelancing thing especially since I'm not an annoying person that will bombard them with messages until they finally get back to me. [link] [comments]  |
| What kinds of things/product you can build in Data Science and Machine Learning ? Posted: 30 Oct 2020 09:54 AM PDT Hello guys, I am not sure if this is the right sub to ask this but I will try to explain my problem. I think your valuable experience will point me to the right direction. Data science, analytics and ML is becoming more and more mainstream these days. I have a good background in Data science, Cloud and Software development . Since the lockdown, I have a lot of time in hand that I want to use to build something productive(can be scaled to a big product or services at some point in the future). I have some decent savings from my own so I am not worried about spending money in setting up the tech infrastructure. I want to primarily focus on building something at the moment rather than spending resources on marketing without a viable product at hand. The problem I am having is I don't have any idea in mind. I can build stuff if I have a target or end goal in mind(an employee mentality I would say so I am taking one step at a time). Hence, I am turning here for some recommendations.
Any other recommendations/ pointers would be highly appreciated. [link] [comments]  |
| Useless Inventions: Is Your Product A Solution In Search Of A Problem? Posted: 30 Oct 2020 09:25 AM PDT In Japanese, there's a word for that… Chindogu
Kenji Kawakami (who invented chindōgu) had the following to say about a lock he was working on:
Even though chindōgu (which translates to strange tools), is more about making people laugh at the inventions that create more problems than they solve, I can't help but wince. Aren't we guilty of that often? How many founders start with the solution and then go out into the world looking for a problem?There are voices that promote this approach but for most of us, it's a recipe for disaster. [1] It's just much easier to start with a lock and build a key than to create a key and then go into the world in search of a lock that it can open. [2] If you start with the solution, you'll struggle with:
Instead, if you want to maximize the probability of success, start with one of the following approaches:
NOTES[1] From Start With The Who Or With The What?
[2] Even worse is that most of us often build the most expensive, overengineered key. We build some perfect product with tons of infrastructure in anticipation of the immediate exponential growth we'll get when we launch. But when it turns out the dogs aren't eating the dog food, those resources are wasted. More on this in Paradigm Shift: Drastically Increase The Odds of Success. [3] More on that in Create A Product That's Hard To Live Without. I disagree with the notion that it needs to be a "hair on fire problem." The hypothesis that you need to sell painkillers not vitamins seems plausible as a metaphor but empirically it doesn't pan out. There are tons of successful founders that solved something that was just an annoyance for their customers. Just focus on making something they love so much that it's hard to live without. ----------------------------------- Hope you learned something you didn't already know, or that this reinforced something you already did. If you run a young startup and want to grow faster, I send daily essays to your inbox to help you do just that. You can join here. [link] [comments]  |
| What are some things to know/be aware of when paying someone to build your site? Posted: 29 Oct 2020 06:14 PM PDT I have no tech background at all, but have an idea for a site that I want to build, with an idea of how it should look and function. In terms of getting this built, I am looking on sites like Fiverr or upwork, but have never outsourced something like this before. How does payment structure work, what information do I need to provide etc? I see some charge per hour - what is to stop them from taking forever to complete my request or not even finish it? Another point is how do you ensure they don't take your idea as their own? Thanks for any help in advance. [link] [comments]  |
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