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    Thursday, October 15, 2020

    Thank you Thursday! - (October 15, 2020) Entrepreneur

    Thank you Thursday! - (October 15, 2020) Entrepreneur


    Thank you Thursday! - (October 15, 2020)

    Posted: 15 Oct 2020 06:09 AM PDT

    Your opportunity to thank the /r/Entrepreneur community by offering free stuff, contests, discounts, electronic courses, ebooks and the best deals you know of.

    Please consolidate such offers here!

    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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    I know it sounds shady but here’s how I found lists with 100+ investors contact data in 3 secs. So simple you wouldn’t guess.

    Posted: 15 Oct 2020 09:39 AM PDT

    I'm about to reach out for the first time to investors for my company. So just the other day when the nerves were kicking I decided to try a quick google search to see where could I find the investors to reach out to.

    Surprisingly, the information I found was super useful so I decided to note that these learnings for other folks like me.

    In general, I feel like the ability to do use advanced google search operators and getting relevant results is a superpower that is easy to acquire but most people don't have it.

    This is the search I tried:

    site:docs.google.com intitle:investors - this search will find all public docs / sheets that contain in the title "investors". Just scroll down and you see the magic happening.

    -----

    With Google search operators I have been doing anything from market analysis, prospecting people on LinkedIn, retrieving fundraising news, finding emails, etc.

    -> I compiled some other use cases in this article. Feel free to take a look :)

    Let me know if you found this helpful!

    submitted by /u/r_pg101
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    I'm trying to kill my idea: Meet other Entrepreneurs by playing video games

    Posted: 15 Oct 2020 08:47 AM PDT

    Hello! Recently I was struck by the idea of getting to know people through playing video games. Especially with people I might have a lot in common with.

    The idea: meet other entrepreneurs / founders by playing video games with them

    The reason: Gaming is responsible for my strongest friendships. I think it's something that could be leveraged to meet new people, and build relationships.

    Killing the idea: I posted this because I'm trying to figure out if there's any interest in the idea! Does this sound appealing to you? Let me know. Any of your thoughts are welcome :)

    submitted by /u/sasacocic
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    Help with "Talking to Customers"?

    Posted: 15 Oct 2020 01:33 PM PDT

    In terms of the literature about "talking to customers", much of it seems to be around idea validation.

    Are there any resources you guys would recommend on how to talk to customers when you have an actual product out?

    I have a product out and have a couple thousand daily users.

    I can communicate with them since I have their email addresses.

    But, I'm having a hard time getting any critical feedback.

    They mostly just tell me "they love the product and use it every day / every other day" (and I can see that this is true from the data), but when I push them for improvements/suggestions... I don't really get anything substantial.

    They just tell me they like it, and can't really think of anything else they want.

    It seems like they don't care enough about the product to give me any substantial feedback??

    Are there any tips you guys have on how I can get some better feedback from my customers?

    Thank you

    submitted by /u/certified_fkin_idiot
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    What’s the best way to convert leads to clients?

    Posted: 15 Oct 2020 12:41 PM PDT

    Aside from people I know personally, what is the best way to reach out to leads?

    As far as calling, emailing, in person visits. Which methods are generally most effective and how would you recommend executing that method?

    submitted by /u/runningwaterss
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    Looking into starting my own home care/elderly companion care business

    Posted: 15 Oct 2020 07:00 AM PDT

    I've had a lot of trouble with some of the ethics of the home care companies in my home town and I love being a health care aide. I want to provide the absolute best care I can for your elders by giving them the patience and attentiveness they deserve. My life has significantly improved because of it, but it has also been quite difficult. I won't go into details, but I want to know if anyone else has had success with starting one up and how your experience has been since doing so? I've got the details of services I will be offering so now I'm just looking at costs, documentation and pricing. Location you started doesn't matter, I'm comparing locations anyways, but for a little insight I'm in Canada. Thanks!

    submitted by /u/WallowinWasabi
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    I Started an Energy Drink Company in the Middle of a Pandemic! Ask Me Anything!

    Posted: 15 Oct 2020 10:26 AM PDT

    First post on reddit (technically second since I posted a similar one on r/energydrinks), so please be gentle with me if I am inadvertently breaking any rules here.

    Not trying to sell anything - just figured this group might be interested in my experience, lessons learned, next steps with the brand I launched in May of this year, Bird Brain Energy. Fire away!

    submitted by /u/BirdBrainEnergy
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    Is it worth fulfilling ec-ommerce orders to the U.S. directly from a 3PL in China?

    Posted: 15 Oct 2020 12:57 PM PDT

    Hi guys,

    I am expanding the family business to online (kitchenware/ gadgets) and am in the pre-testing research process. I am wondering whether it is worth fulfilling consumer e-commerce orders to the U.S. via a 3PL in China, vs. bringing goods from the factory to a U.S. based 3PL by freight and shipping from there. These are our products that we manufacture and are responsible to fulfill, not dropshipping my any means.

    Pros:

    1. No sea freight lag time, which would help us build the business up more quickly and risk less capital in the beginning on inventory (can do less units as the wait to get them is cut by 4-5 weeks).
    2. Avoid paying for overseas freight, and avoid paying duties and tariffs-savings would go directly into ad spend, along with cheaper costs across the board generally in terms of 3PL fees.
    3. Be able to offer free shipping on virtually all products. I'm sure many customers would be happy to wait 2-3 weeks for this, while a faster option wouldn't be that expensive if they preferred.

    Cons:

    1. Less established 3PL industry/cultural clash, software integration might not be great.
    2. Wait times and reliability of China ePackets might result in lost goods or annoyed customers
    3. Brand perception re: receiving a package from China, although not a major concern tbh.
    4. Any customs issues/duties the consumer may be slapped with, although this will likely be a non issue as our prices/average order will be mostly $20-100 and it would count as as 'informal entry' under the $25000 threshhold.

    Assuming the 3PL in China is reputable/trustworthy (looking at NextSmartShip) and can handle returns, does anyone have any reasons why I shouldn't take up that option? I have mandarin speaking people in Hong Kong to support me with issues that may arise too, who are also managing the the transport of goods to any 3PL, so that is not a concern.

    Any guidance or sharing of your experience is so much appreciated!

    submitted by /u/jdude17
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    Canada - Looking for advice

    Posted: 15 Oct 2020 12:47 PM PDT

    I am planing on starting a e-commerce site in Alberta, Canada. I will be importing some products and manufacturing others. I am wondering what I need in terms of registrations and what route I should go (sole-proprietorship or corperation) and is this better to do at provincial level or federal level. I am also unsure how taxes work across provinces for sales. Do I need to register in every province or what do I need. I know I will need a CRA tax number (RT) and Import/Export (RM).

    submitted by /u/primaxius
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    Starting a business around Dallas. Need help.

    Posted: 15 Oct 2020 12:44 PM PDT

    Hello everyone,

    I dont live in US yet, thus I'd like some advice please. I would like to know what steps should I take if I were to start a business around Dallas? If possible I'd like to know the procedures and timelines. Basically I'd like to know where to begin. Thanks in advance!

    submitted by /u/Bazing4baby
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    How to balance paying your bills with growing your business?

    Posted: 15 Oct 2020 12:40 PM PDT

    I'm just starting on my entrepreneur journey and trying to figure out how to balance my day job with my ambition for my company. Do I find a job less stressful and time consuming job that allows me to work harder on my business? Do I find a part-time job to give myself even more time to work on my business and cut out all excess spending? I'm trying to figure it out so I can sustain myself while also giving as much as possible to my venture.

    What did you do? What would you do?

    submitted by /u/xmpmx
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    What businesses have a really high-profit margin that most Redditors would not think they have would have such high margins? and why don't more people enter this field?

    Posted: 15 Oct 2020 12:22 PM PDT

    Vice versa what markets are overly saturated and don't have as high of profits as originally believed?

    submitted by /u/brnlxndr
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    Entrepreneurship Club at Ohio State is hosting a meeting with the Founder of Good RX.

    Posted: 15 Oct 2020 12:11 PM PDT

    If you are an entrepreneur, you should join the Business Builders Club's meeting tonight at 6:30 pm EST. We are hosting the Co-Founder of Good RX, Doug Hirsch. Good RX is a publicly traded company valued at over 12 billion $. This is a unique opportunity to hear from the Co-Founder & Co-CEO.

    Meeting is open to anyone. The link to join is tinyurl.com/BBCMemberMeeting!

    submitted by /u/Bennettheyn
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    Inheriting $30,000- any advice?

    Posted: 15 Oct 2020 11:39 AM PDT

    I am in my early 20's and a recent college grad. In about 8 months from now, I will inherit $30,000 from a relative. What would be the smartest and most productive thing to do with this money? Ideally, I'd like to invest or seriously consider starting a small business. I have no previous experience with investing but do have previous business experience. However, I am interested in hearing from anyone with a similar experience/ what they would do. Thanks!

    submitted by /u/meatpackingINC
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    Shipping cost is killing

    Posted: 15 Oct 2020 11:03 AM PDT

    Hi everyone, I run a "traditional" sourcing and import export business. We do food products. Europe to Asia. So recently I receive many requests from end consumers wanting to buy Spanish and French products directly from Europe, they want to buy a box of 20kg of different types of food and snack and wine etc. it's like a gift box.

    So I'm thinking to start an online store to cater to customers in Asia. I can consolidate the orders easily since I am already buying some of these products wholesale but shipping is very expensive. I definitely have to use air freight since nobody will wait a month to receive the products.

    But to send a 20kg box of food for example with air freight like DHL etc cost a fortune! Looking at 200-300 euros for 20kg box. Anyone has any idea or experience on how to solve this? Appreciate it!

    submitted by /u/keerli
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    What advice would you give me on why I should be confident enough in research wise that I should quit my job to start?

    Posted: 15 Oct 2020 10:59 AM PDT

    Advice on what all I should be confident in before quitting my job to pursue starting my own thing?

    So basically, I have an idea of a product to sell that is it readily available anywhere, and want to quit my job and attempt to start this up. But what I'm asking is more broad.

    What all should I have confidence in and be doing research on viability wise before I make that leap?

    And yes I know that I should keep my job and do this on the side until it become profitable, but that isn't an option for me. I would be far to unhappy with life if I did that to put in the work required to make a successful business

    submitted by /u/guiltyremnantcig
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    First 6 steps of building a brand identity

    Posted: 15 Oct 2020 10:28 AM PDT

    An interesting post on what to start with while working on brand identity:

    Step 1. Identify Brand Heart. Name, logo, pictures, and even videos are material markers. As long as the product does not have a history that ties everything together, these markers are empty.

    Step 2. Identify Brand Messaging. All these points help greatly to feel the brand, find its features, flaws, "wrinkles" and present it to people through design or content.

    Step 3. Identify Your Key Customer. For whom everything is planned? Make a detailed portrait of them, because the more specific you describe your person, the easier it will be to understand how to enter their world with your offer.

    Step 4. Identify Your Competitors. You need to understand how your competitors work and find your benefits in comparison to them and to highlight them.

    Step 5. Design Your Individual Elements. By this time, you have a ton of information to start the identity creation. At this stage, you want to take that text-based information and translate it into visual concepts.

    Step 6. Build Your Brand Style Guide. The only thing more heartbreaking than a poorly designed brand identity is a beautifully designed identity that is never used or used incorrectly. A brand style guide is the finish line of this process.

    The full post here.

    Business owners, do you care about the brand identity? What do you start with?

    submitted by /u/Mrktbloom
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    Starting a decal business!

    Posted: 15 Oct 2020 10:17 AM PDT

    Hi all.

    I've been wanting to start a business that caters to the gaming/desktop aesthetic community but have a few concerns! I would be selling custom decals (stickers) that fit on the drawers that are sold by IKEA, decals that fit on to specific computer cases that are popular, and custom clothing. My question is: What are the stipulations of selling things that are meant for other products? As in: What am I allowed to say or not say on my website? I would have pictures of my drawers with my decals on them on my website, and same goes for the computer cases. I basically just need to know if I can sell these things and mention brands. Thanks for the help!

    submitted by /u/SignWriteHere
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    Discipline without rigidity??

    Posted: 15 Oct 2020 10:13 AM PDT

    This may be a strange post:

    So, I know the importance of habits in being a successful entrepreneur, and being disciplined every day no matter how you feel.

    But, what if you grew up with a majorly OCD-like parent who made everyone miserable, and you promised yourself early on that you would be different from them? This parent was not an entrepreneur- just rigid by nature: hard and fast routine all day every day, constant denial of all pleasures and social interactions just for the heck of it (because socializing was "shallow" and a "waste of time"), excruciatingly organized.

    While I'm generally responsible and productive by nature, I am constantly haunted by this parent experience and not wanting to fall into a similar lifestyle.

    So, I find myself for example, not requiring myself to get up at the same early hour to work on my projects, or I say yes to a friend when I should be working, or indulging in the "I don't feel like it" too often. In general, I feel compelled to "vary" my life and not be controlling, but this causes an inconsistent pursuit of my goals.

    When I read things about discipline and pushing through inertia I then feel so torn!

    Any like-minded peeps out there? How do you deal?

    submitted by /u/ExItPlan66
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    How do I sell my marketing agency?

    Posted: 15 Oct 2020 10:13 AM PDT

    My marketing agency does $1M per year. 10% of that is profit.

    How do I even begin to think about selling this business? It's just me, plus a few contractors and vendors I utilize.

    submitted by /u/1cognoscere
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    Small Youtube Channel - Best Advice for someone growing an Educational YouTube Channel

    Posted: 15 Oct 2020 09:24 AM PDT

    Hello Everyone! First Post here on /Entrepreneur.

    Like many others, during COVID-19 my wife and I have decided to shake things up a little bit and make some big choices we have been putting off for a long time. We are almost 30, and we have 5 kids(NO MORE, I'm exhausted). I am a bartender and a Real Estate Agent. For years we have put off starting an online business and we finally started. My wife started her first Etsy business making Vinyl's and Decals for Home Décor and Kitchenware. I have decided to start a YouTube Channel Educating others in hopes to lead everyone to financial freedom.

    Now before you mention that the market is too saturated for finance channels, and that its a hard niche to get into, I am very aware of this. But it doesn't stop me. I have a hunger and am willing to do whatever it takes.

    This is my passion, I love money. I talk about it all day long with potential clients and what a better way to reach a wider audience than YouTube.

    What is the best advice you could give me for a beginning entrepreneur in YouTube business.

    - I have 6 subscribers in first week. Okay cool I guess.

    - I have 3 videos so far.

    - I have very good sound and video quality ( spent about 1k for the good stuff )

    If you don't have any advice for growing a YouTube channel, What kind of content would you guys want to see in a finance channel. I have a family, so "I think" I want to niche down to Families. Since I can relate to others with kids as well, rather than guys like Graham Stephan, who relate to the single, young hussler with no obligations and a strive to be rich.

    Thankyou for taking the time. If you want to look up my content and give me advice. Look up Jake Trost on YouTube. I don't think I am aloud to post a link to my channel. I am not trying to market my channel right now, just want honest critical opinions.

    submitted by /u/jaketrost4
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    How did you convinced customers to trust you?

    Posted: 15 Oct 2020 09:24 AM PDT

    Hey all.

    I run a social media agency focusing on USA clients, but I am in Europe. I find it kind of hard to find new clients, who would trust what we do. Some of our services are quite cheap, because we know how to do it efficiently and deliver excellent results and other our services are really expensive, because it's really the peak of quality. Long story short, our cheap services look too cheap, our expensive services look more expensive.

    Was something similar happening to you? How did you go about finding new clients? I can't really meet personally with them, as I am not there. So far the most promising is texting through facebook, but we also have a nice website, although we haven't really used it yet.

    submitted by /u/davidvaclavik
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    Beginner’s Guide: How to Build a Sales Funnel To Boost Your Online Business

    Posted: 15 Oct 2020 09:05 AM PDT

    Your sales funnel can either BREAK or MAKE your business!

    Sales funnel acts as a blueprint to your lead generation strategy. But, I recommend you first understand your business and analyze the type of leads you wish to generate.

    Creating a funnel marketing strategy is like skewing how the audience will view the other aspects of marketing through your business.

    It is not easy to drive the audience toward your business. This is why your sales funnel should be attractive and should catch the attention of your audience.

    Before explaining how you can create a powerful sales funnel, you need to know what is a sales funnel.

    Learn More: Beginner's Guide: How to Build a Sales Funnel To Boost Your Online Business

    submitted by /u/Albertchristopher
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    What do you look for when hiring a design / advertising / marketing agency?

    Posted: 15 Oct 2020 08:30 AM PDT

    I own a full service strategic communications agency. We're about to redo our website. For those that are working with or have worked with an agency on the past to build a website, or create promotional materials, create an integrated ad campaign or create your branding / messaging etc. what do you look for? (Edit: to be clear, we're not looking for an agency. We are the agency redoing our own site.)

    One of our biggest challenges, is that businesses generally don't understand our field. They can't tell the difference between a great agency and a terrible one. So many will go off cost or because "my brother knows the owner" which is a terrible mistake. Because my industry is so misunderstood there are so many snake oil salesman. They have slick websites (with obviously fake stock images) with a bunch of agency jargon and clients eat it up.

    I can read the very subtle signs that an agency is inexperienced or lacks talent, but most can't (similar to choosing a mechanic when you know nothing about cars). Many businesses have no idea what the difference is between a graphic designer and a creative strategist (or when to hire one over the other). Or even a designer and an illustrator. I've seen people hire a fine artist because they saw a "cool painting they did" to create their branding. Which is crazy. Creating branding or a brand strategy is closer to psychology than it is to fine art or illustration.

    I probably could have just asked the question and left it at that, but I'm hoping the above back story will weed out the more obvious answers.

    Any insight would be greatly appreciated!!

    Thanks

    submitted by /u/Alex_J_Anderson
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    Need Feedback on my Company's Explanatory Video

    Posted: 15 Oct 2020 08:27 AM PDT

    My company is focused around a complex topic (online-data security) and to better explain what we do and why people should use our service, I created the following 2 minute video.

    I was hoping to get some feedback on the below areas:

    1. Length and flow of video. Please note that this video will be used on our website for people looking to watch vs. read - It's not meant to be a video used for ads.
    2. Is it clear what my company does?
    3. Does it create a sense of action/curiosity?

    Of course, any additional feedback is welcomed as well!

    https://youtu.be/ypoKMn3Qb0U

    submitted by /u/woodaran
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