NooB Monday! - January 04, 2021 Entrepreneur |
- NooB Monday! - January 04, 2021
- I built a video call app which is the antithesis of Zoom. You can play with everything - backgrounds, gifs, stickers. You can recreate a bar lounge, classroom, office, 80s party and more. It also has spatial audio - just move closer to talk to people, like you do IRL. Looking for feedback.
- 3 More Ideas That Could Be Businesses
- Why you're really not financially free, Written By: Someone not trying to part you from your money.
- I started my own YouTube channel today. I feel so happy.
- When to hire your first dev
- How Starting a Gaming Community Helped Me Start My Business
- I feel like I’ve hit a plateau
- Mistakes made with customers? Thing's you've done that you wish you haven't
- Viability of a dropship company for cell phone accessories?
- Question about alibaba (did I get scammed?)
- Why You're Not Financially Free: Part 5
- (18M) What are the steps to get into the cannabis industry?
- Buying A Shopify Business
- Is good SEO all it takes to make your website profitable?
- Help regarding my website - people understand it as a blog
- new business, how to keep track of money for taxes?
- I Started a Business at 18 & Failed Miserably
- I created a website Whitepxer that can automatically edit professional product photos in a few seconds. I hope it is useful for you.
- Questions for people who tried alot of fintech and apps for currency exchange from US dollars to Euros or US dollars to and/or US dollars to Indian ruppees and paying people abroad
- Spending 20s building startups. Will I regret?
- Price - competetive but not too cheap.
- Financial Data Sets for AI & ML testing - "Cold Start"
- Made $300 cash this weekend. What would you do to multiply it?
- Machine Learning without programming
- Facebook Ads´ audiencies: "people who visited specific web pages"
| NooB Monday! - January 04, 2021 Posted: 04 Jan 2021 02:00 AM PST If you don't have enough comment karma to create your own new posts, you can post your new questions here. You can also answer/add comments to anyone else's posts in the subreddit. Everyone starts somewhere and to post in /r/Entrepreneur this is the best place. Subscribers please understand these are new posters and not familiar with our sub. Newcomers welcome! Be sure to vote on things that help you. Search the sub a bit before you post. The answers may already be here. Since this thread can fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| Posted: 04 Jan 2021 11:19 AM PST You can check out the demo at: https://www.youtube.com/watch?v=4zwXL7ZJra4 It's also on the website. You can sign up here: https://reslash.co If you're interested, just reply back to this thread. [link] [comments]  |
| 3 More Ideas That Could Be Businesses Posted: 04 Jan 2021 07:58 AM PST Hey everyone! I post regularly about business ideas and opportunities. I made a previous post like this and you all seemed to like it. I'm back with another 3 ideas. You can check out more ideas like this here. To preface, these are 3 solid (albeit not deeply researched) ideas that you could turn into pretty sweet businesses or side projects. Here's what I've been thinking about - Find Influencers Who Are Customers: This Idea is actually inspired by another Redditor's post I saw about a week ago. Here's TL;DR - many brands sell their products to celebrities or social media influencers and don't even know it. It's near impossible for a human to keep track of all the customers - let alone cross-reference that with all the influencers in the world. This results in a lot of missed opportunities on the brand's part. The idea is simple, create a piece of software that scans your current customer base and then tells you if there are any influencers that you're already working with. From there, you can reach out to leverage that relationship into a marketing opportunity. Note: There seems to be a solution, Carro (they do other things too), but I definitely think there is room for more competition. A Chatting Platform to Combat Loneliness: This idea is inspired by something I heard on the My First Million podcast. Here's the gist - loneliness is a huge problem for many people, both old and young. During the pandemic, this problem has only become larger due to lockdowns. The obvious solution is dating sites, but those come with the expectations of a romantic relationship. There should be a platform that connects people with one another for the sole purpose of talking and having conversations. Nothing sexual or romantic. It could be like Chatroulette, but without the video. Also, it could include features focused on people just getting to know one another. A Syllabus For Free Educational Content: This idea is inspired by Dani Grant. YouTube and MOOCs have opened up education and content in ways we've never seen before. Fortunately, most of it is free. The challenge is finding the right content and figuring out what's legit. Additionally, stringing all the content together to create a self-directed course is tough. Someone should create the best-in-class course guide/syllabus for topics that can be learned, free online. It would be an aggregate of information found from any site, and then displayed in the order you should consume it. This would save people a lot of time and get them the best information at the right time. Thanks for reading! I'll be hanging in the comments for a while to have a discussion. [link] [comments]  |
| Why you're really not financially free, Written By: Someone not trying to part you from your money. Posted: 03 Jan 2021 06:16 PM PST EDIT: Wow, this blew up more than I thought it would. Thanks for the positive feedback. I've written a TL;DR at the bottom. About me: I currently own a 10m+ Cpg business (verified on /r/FulfillmentByAmazon) we have many products on amazon, in retail locations and d2c via shopify. Obviously my advice won't be completely universal, but maybe helpful to some of you here. This post is about why you are not financially free, through the lens of this subreddit (Entrepreneur). (Kind of a meme from the other post by the Ponzi scheme dude today) I think one of the most important things to understand about being an entrepreneur is the basic concept of finding a need, and filling that gap. The easier this is to do, the less lucrative it is. The less time it takes the less lucrative it is. The less money it takes to start, the less lucrative it is. That's why you can be an uber driver and make minimum wage any time, because anybody can do it. Things you may be doing that I think is a waste of your time: -Reading endless books about being an entrepreneur, under some delusion that when you hit 10, 20, 50, 100 books, you will magically now have enough knowledge to start a business. FYI I didn't even read any entrepreneur books until after I was already a business owner... then I heard rich dad poor dad was amazing but I read it, and honestly thought it was a joke and I roll my eyes when I start reading anything else so... yeah I dont think these are all that helpful. Endless books that help you "gain perspective" won't make you an entrepreneur in my opinion. -Spending effort networking at entrepreneur groups (like this one lol) to try to learn something from others -Endlessly planning your big venture, sorting out accountants, llcs, strategy decks etc, but never actually starting. (Focus on starting. AKA, go out there and get yourself a sale) -Trying to go too big, like developing an app that's going to be the next google, or whatever. Perhaps go smaller, something that can do that you don't need a string of 100 things to go right to be successful. Things that you may be doing that might be a financial drain, thus stopping you from your dream of being an entrepreneur: -Buying shit you do not need. Being an entrepreneur is actually expensive. And perhaps not in the way you think. It's expensive to try and fail, but it's actually more expensive to try and succeed. Imagine you are successful and get a $1M purchase order from walmart. Where are you going to get the funds to pay for this? Seriously, stop buying shit you dont need and start saving money. You need a warchest to start a business, pretty much no matter what you do. -Spending money on things you think will help you become an entrepreneur. Salesforce, mailchimp, expensive website design, legal fees to consult on your business that does not exist... etc. Stop! Get everything you can get FREE. Free shit exists. You don't need enterprise level software if you aren't an enterprise. -Remove any financial drains possible. If you don't have a kid yet, and are trying to become a business owner, don't have one yet. Wait a bit, because having a kid will not only be a financial drain, but a time drain and will in a very literal sense cut your chances of being successful in business by a lot. I won't make this into a personal finance post but this is a huge tip. Starting a business: Skill, Money & Time. These three things are what you need most of if you are trying to start a business. I think a lot of people try to to buy a skill, (Paying for a course, school, etc) then have no money left (spent on said course), and lastly don't carve out enough time for their business and therefore fail. (life gets in the way) It's sexy to sell "side hustles" where you can work 1 hour a week from the beach and collect a check in the mail.... this doesn't exist in a replicable way. When I started my business I wouldn't have wanted to work 1 hour a week anyway. I was so obsessed id work all day and relax by working some more. I carved out a ton of time to make this all happen. I do believe the more time you spend on your business the more chance of success you will have. I have dreams of chillin at the beach 7 days a week too, and at this point I totally could. But I have bigger, better dreams of the company being even more successful than it is now. - I think, people should look inwardly to what skills they currently have. Can you design things? Start an advertising agency. Are you from another country? Maybe there is something interesting that is popular there, you can bring here. No skills? Get into something time intensive, like a moving company perhaps. Whatever it is you want to do, FOCUS on getting a sale. Literally make it one of the first things you do. And when you fail, ask for feedback. You'll be learning about what the decision making process is for your customer. Trying to figure that all out beforehand trying is going to be almost useless. If this helped you at all let me know in the comments. If not, well, I guess I probably won't be back to this sub LOL ¯\_(ツ)_/¯ TL;DR:
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| I started my own YouTube channel today. I feel so happy. Posted: 04 Jan 2021 09:49 AM PST I hated to watch a 20 minute video tutorial for simple things in Android. I know it sucks watching a long video for a simple thing such as listview. I have started my own YouTube channel now to solve this problem. So the goal of my channel will be to make Android learning curve easier in the form of short and crisp videos. No jagron. My first video: ListView in 4 minutes. Feedback is much appreciated. I finally started something today rather than just exploring ideas and I feel so happy. Thank you all for motivating me with your stories. [link] [comments]  |
| Posted: 04 Jan 2021 09:42 AM PST TL;DR The trade-offs of internal vs. external resources can be complex, and the financial aspects can be very nuanced. External software development resources are generally excellent for validating an MVP with low commitment but are outpaced by internal dev employees for investing in your long term product. My background In my 10 years of experience in the software sector, I've worked as an engineer, manager, and executive. I've worked for small startups (<10 person), mid-sized companies (100s of employees), and large corporations (fortune 100). I've worked with all kinds of local teams, remote teams, domestic and foreign contractors, consultants, and vendors. I joined my current company as the engineering leader and first technical employee. Prior to my arrival, the company had built and maintained their software product entirely through external resources, including various contractors, software development firms, and vendors. I have since built a small internal team with a light but strategic reliance on external resources. I'm glad to have spent the time over my career to learn the trade-offs of internal vs. external resources, but I hope to help you avoid the pitfalls of first-hand experience, especially if you're a non-tech business owner who can't go through the technical experiences I did. Financial considerations of internal vs. external development resources In my experience, I have found that employees are a big, long-term, high return investment. Externally-contracted resources are a smaller, short-term, low-to-medium return investment. External resources are generally 2x-4x as expensive per hour as full-time employees of comparable skill, but carry much lower commitment. They allow you to pause your development for a period of time, which can afford breathing room at critical times and allow you to reduce your spend dramatically. If you were to pause payroll for your employees, they would leave, and you probably wouldn't get them back. It should be noted however that many external development firms (i.e., not one-man dev contractors) require you to purchase regular support agreements with hourly minimums or face exorbitant fees for out-of-contract support. That's not as big of a financial hit as retaining developer employees, but it does mean that a pause will not lead to a total reduction in spend. Internal vs. external for an MVP If your software product is small or nonexistent (e.g., still developing your prototype/MVP or still finding market fit) or you are not yet confident in it, external contractors or firms are a much better fit than employees. They are very good at small, short-term projects (<6 months), have a canned development process, and can get your product to a customer-facing state. After that, you have no obligation to continue development with them. That's a great way to do the minimum work required to validate an idea to see if it's worth long-term investment. Internal vs. external after market traction Once you have traction and you are ready to make the deep investments in your product necessary to scale, you should strongly consider hiring internal employees. The lower cost per hour is helpful, but there is a much more valuable benefit: your business is their business and your customers are their customers. They are deeply incentivized to build into the success, longevity, and sustainability of your product. External resources, on the other hand, aren't as directly aligned with your goals. Your fires are not their fires. They have their own business to run, and it likely looks very different from yours. Their job is to fulfill what their customers ask for as explicitly as possible, and if that results in your product going sideways, they only stand to lose you as a customer. Your employees, however, know that a product going sideways means they are going to be out of employment and scrambling to find a new job. That mindset is much more closely aligned to your own and results in better products. Final thoughts [link] [comments]  |
| How Starting a Gaming Community Helped Me Start My Business Posted: 04 Jan 2021 01:19 PM PST Hey Reddit! I'm James, a 21-year-old college student that just launched my first business, Vivifi. I discovered my love for entrepreneurship by starting a gaming community, [FaT] when I was 18. About FaT (my community)Over the past 3 years, I've grown my gaming community to 1000+ active members (and over 5,500 guests). My community has over 150 staff volunteers; including programmers, recruiters, personnel management, marketing team, and so much more. We play PC shooters that are teamwork oriented and fairly niche games. About Vivifi (my business)I founded Vivifi when I figured out a smarter (and cheaper) way to draft compliance documents (Privacy Policies, Cookie Policies, Terms & Conditions) that meet GDPR, CCPA, and EU data compliance laws. Law firms charge a ludicrous amount (think $5,000-30,000) and take 30-60 days to draft. This is stupid and I knew that there had to be a better way to do this, considering the strict requirements for websites/apps with users in California and Europe. I've spent the last 6 months developing the business model and technology to issue these solutions way cheaper and faster (2-5 business days). To give a quick summary, I partnered with an international team of lawyers and compliance experts that draft the components of the documents, and I assemble them to meet each client's needs. We keep them updated as legislation changes occur, and update when our client's data practices change as well. Okay, so big whoop. What did it teach me?
There are so many more lessons I've learned starting a community, but they cannot all fit in the 5 topics I limited myself to. I've met with multiple CEOs who have a similar path towards entrepreneurship, and I believe that I would not be a business owner without the community I founded. I'm young and have many more lessons to learn, but I feel like I'm in a far better position than if I had no leadership experience. Let me know if you've had a similar beginning to your entrepreneurial career! I'll for sure respond to all of your comments. TL;DR: I started a gaming community when I was 18 and it taught me a ton of lessons that are relevant to running a business. [link] [comments]  |
| I feel like I’ve hit a plateau Posted: 04 Jan 2021 01:10 PM PST My business is two years old and hit our largest growth last year. I know where I want to scale to and the next step and the effort it is going to take. I'm tired but I want the goal. I feel like I just need a week's vacation or time off without worry. Any experience in this and best advice in taking a magnitude up in business. [link] [comments]  |
| Mistakes made with customers? Thing's you've done that you wish you haven't Posted: 04 Jan 2021 02:34 PM PST As everyone is considering their 2021 plan or already acting on theirs. What are some actions that produced unexpected negative results when it came to your customers that was in your control? Ran a marketing campaign that sounded like a great idea and absoutely was not? Let's hear about it and the rebound! Love to hear from other's experience of failure and how it panned out. [link] [comments]  |
| Viability of a dropship company for cell phone accessories? Posted: 04 Jan 2021 02:20 PM PST Looking to start up a business to help supplement income and hopefully provide a minimally managed business model. I have heard that dropshipping gives that option if done correctly but I would like to do research on all possibilities. This is not really my area of expertise, as I am a cyber operator but would love to look into the process. If anyone has any links, write ups or suggestions for books please let me know. I am happy to take the time to learn but I don't want to start down the wrong path. [link] [comments]  |
| Question about alibaba (did I get scammed?) Posted: 04 Jan 2021 01:58 PM PST So I found a company that's selling motherboards for a good price, based out of china. Gold seller, verified business. Seems legit. But their whatsapp contact and bank info is in Georgia (the country) I submitted the order through trade assurance and they cancelled it and said "we already have your order ready" I paid through western union (I know, but everything I've read about verified and gold supplier seems to say they're legit.) So I purchased just one sample. Not a huge loss if I don't receive it but this was my first interaction. I heard it's common for people in china to he western union because PayPal and mastercard wasn't common there. Then for 3 days they said that I'll get a tracking number on Monday, the communication was pretty regular. Until today when the item was supposed to ship. So does this all sound fishy? There's only one review on their company profile and it's bad, but they were just complaining about the shipping being late (so they still got the item.) [link] [comments]  |
| Why You're Not Financially Free: Part 5 Posted: 03 Jan 2021 02:26 PM PST My full list of posts can be found here. *** I wished I knew this earlier. This entire game, becoming financially free and creating passive income, is all about who you know. When I was younger, I thought, "If I just had the right skills. If I just knew how to trade stocks or how to flip houses. If I just knew how to start my own business and make it work, then I'd be financially free!" So, I gave it a go. After some time in the Army, I bought my first business. It failed. I did my best to recoup and gave a shot at trading: Stocks, mutual funds, options, forex, oil, commodities, even a bit of automated trading systems. More and more failures. I bought a real estate course from a top guru and failed. Are you seeing a pattern? I thought if I could just get the right knowledge, the right skills, the right secret sauce, then I could create an income for myself that didn't come from a job. I couldn't have been more wrong. This entire game is about who you know. Unless you have mad skills. Mind you, there are some people who have the technical knowledge to be financially free purely on their skill. I know a guy who is big into crypto trading (which I don't recommend). He has a couple of trading bots that he employs into the markets to trade for him. It's mostly hands-off as he lets his algorithms do the work. We actually set up a video call for him to walk me through his entire process, as I was quite curious about his system. It took a grand total of three minutes for me to be thoroughly confused. Mind you, I'm not very tech-savvy. Making a Youtube video is a chore for me, and the quality of my production is, well, rather low. Regardless, his walk-through was a maze: "Well, you'll need a VPN, first," referring to what is a virtual private network. "Then we'll need to open up our trading system. One sec, I need to get through this encryption code first. Okay, here we are. Alright, now, let's open up our bot." I was perfectly lost as he blazed through six screens in about two minutes. God bless those people. If you have a genius-level IQ, if you can build an app and sell a million copies of it for a few bucks, or if you can create the next Paypal or Square, congratulations. You're on an entirely different level. I wish you all the success in the world. These types of individuals are true entrepreneurs. They are the best of the best. What about everyone else? Does your everyday joe need some education? Certainly. Honestly, though, it's very little. Some eighth-grade math will do, along with a few books on the basics of wealth creation (I recommend The Richest Man in Babylon, The Millionaire Next Door, and Rich Dad, Poor Dad). Outside of that… It really comes down to who you know. I've been blown away by the quality of people I've met since I started networking. Need a brilliant accountant? I got one. Want to put your money into a real estate project for a great return? I know a guy. Need some top-tier life insurance? One sec. Need a website built? I have a good friend. Do you have the right business structure to legally reduce your tax liability? I have someone you need to meet. Need more monthly income? Meet this CEO. The list goes on. And you? Have you been focusing on the what? Or the who? [link] [comments]  |
| (18M) What are the steps to get into the cannabis industry? Posted: 04 Jan 2021 01:28 PM PST Thee are several avenues when it comes to cannabis. Starting a weed farm, opening up a store, investing in weed stocks etc. For me, i want to start a weed farm or a store. Where is the best place to even begin to do this? I know I'm going to need a business licence, start up cash, and a team. [link] [comments]  |
| Posted: 04 Jan 2021 07:17 AM PST Hi, all. So, I was interested in buying a shopify business from the exchange marketplace for $3000, but it seems too good to be true. The owner has stated that he is selling it off to pay rent and he can't grow it anymore since his college has started. The stated verified revenue, however, is $8000/month, with a profit of around $5000/month. This just makes no financial sense, in my opinion. Maybe he's selling it for so cheap bc the website is so young? It's only 19 days old. It's a dropshipping business. I'm very new to all this and would greatly appreciate some expert insights! Thanks so much. [link] [comments]  |
| Is good SEO all it takes to make your website profitable? Posted: 04 Jan 2021 12:57 PM PST Just curious if you could have say a subpar product do well just because the SEO is good? Does it make a really big difference? [link] [comments]  |
| Help regarding my website - people understand it as a blog Posted: 04 Jan 2021 12:32 PM PST Hello, For the last half a year I have intensely been putting myself into the project which I am working on. Gaming discussion platform (yeah there are many of those but I do not care). I have visitors coming mostly through google. The struggle is that, when I talk with people about it they think of it more as my personal blog. However, it is a platform where people can post things, write their own guides/tips/strategies etc. Well 95% of posts are made by me so that is probably the impression. But it is hard to attract people without paying them until this gets more popular. How would I communicate to visitors that this is a gaming knowledge platform where they can share the knowledge? I would be glad if someone looked at it :) Cheers! Edit: I include a post on my website as an example, as a personan requested : https://www.gamestegy.com/post/cyberpunk-2077/389/king-kong-gorilla-arms-melee-build This is not advertisement. [link] [comments]  |
| new business, how to keep track of money for taxes? Posted: 04 Jan 2021 12:27 PM PST I started a new business this year. (a music and video production company), I'm wondering what I need to do to be able to write things off at the end of the year for taces. Start an LLC, get a business credit card? How do I know what I can write off? I'm new to all of this, if anyone has resources they could point me towards that would be super helpful. Thanks! [link] [comments]  |
| I Started a Business at 18 & Failed Miserably Posted: 04 Jan 2021 12:16 PM PST Hello, I have started business at 18 but failed, I have show what I have done in the video. Can you please analyze this help me out. Feedback is much appreciated [link] [comments]  |
| Posted: 03 Jan 2021 10:36 PM PST Hi gays, Whitepxer can automatically edit product images for you. If you upload any product photos, it will automatically remove the background and create the image size you need within a few seconds, and automatically create a white background, and it will automatically fill the product into the image frame 85% And in the center of the image frame. [link] [comments]  |
| Posted: 04 Jan 2021 11:44 AM PST I just watched this vid (link got autoremoved) and it seems like there are alot of apps to
Which are your favorite apps for each of these three apps and why? [link] [comments]  |
| Spending 20s building startups. Will I regret? Posted: 04 Jan 2021 11:26 AM PST I'm 23 years old, have been an entrepreneur and have built up few businesses, and currently build a startup with other 2 friends. I've spent all of my college time working on business of either my own or other clients. I always wanted to do business, and become financially independent by 30, but when I look my peers enjoying their time in parties, with their girlfriends, travelling with their friends, I wonder if I'll miss these things after my 30. I don't know whether I'll succeed in my startup (me and my cofounders are working really hard on this startup, we spend almost 16 hours each day), but even if I'll, what will be the point of accumulating wealth I'll have by then, if I feel I've missed a lot of things in my life. Has any one been through this situation? If so, It'd be great to know how things are now for you? [link] [comments]  |
| Price - competetive but not too cheap. Posted: 04 Jan 2021 11:17 AM PST How, as a new player in the game, do you set the prices? But now I feel like my device is too cheap and thus less trustworthy. On the other hand, the WE customer doesn't trust a new CEE Firma so much, that is willing to pay the WE Price. How do I find the perfect balance? [link] [comments]  |
| Financial Data Sets for AI & ML testing - "Cold Start" Posted: 04 Jan 2021 11:00 AM PST Hi all, I have started a small financial services business and would like to grow to offer more forward thinking data services such as AI, BI and ML. The issue I face is that I am a "cold start." I have no data with which to learn trends from. I am interested to find out if anyone knows of any public repositories or data sets that can be purchased with which I can get a reasonably affordable start on these exploits. Thank you in advance. [link] [comments]  |
| Made $300 cash this weekend. What would you do to multiply it? Posted: 04 Jan 2021 09:56 AM PST I worked a side job this weekend and made $300. Usually, that type of money would be spent on various things but I'd like to experiment and see how I can make this money grow. Any suggestions out there?? [link] [comments]  |
| Machine Learning without programming Posted: 04 Jan 2021 09:03 AM PST If you want to do Machine Learning and you have to experience in programming, WEKA might be the answer for you. [link] [comments]  |
| Facebook Ads´ audiencies: "people who visited specific web pages" Posted: 04 Jan 2021 07:11 AM PST Hi, I am new in the digital marketing world and I have a question I can´t seem to find the answer to. I recently added FB´s pixel to my web page and I wanted to create a new advertisement for the people that visited it. When I opened the "Create personalized website audience", I saw the "people who visited specific web pages" option. My question is: these specific web pages that these people visited, have to be MY web pages? I wonder if I can type, for example, some of my competitors web pages, to target new clients that know my competitors brand, but not mine. I do understand that my pixel controls stricly data from my web page, but maybe FB has a way to know when people enter other websites through 3rd party cookies, or something? Anyways, I would love more information about all of this, so I can really understand what I´m getting into. Thank you so much! [link] [comments]  |
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