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    Wednesday, January 6, 2021

    Wantrepreneur Wednesday! - January 06, 2021 Entrepreneur

    Wantrepreneur Wednesday! - January 06, 2021 Entrepreneur


    Wantrepreneur Wednesday! - January 06, 2021

    Posted: 06 Jan 2021 02:00 AM PST

    Please use this thread to ask questions if you're new or even if you haven't started a business yet.

    Remember to search the sub first - the answers you need may be right at your fingertips.

    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 need advice! Just launched my app and it's garnered a lot of investment interest and have no idea how to proceed.

    Posted: 06 Jan 2021 07:06 AM PST

    I just launched my mobile app (solo developer and founder) for a niche but growing market 3 days ago.

    So far I've been reached out to by 3 entities all interested in making large (to me) $20k+ investments into the app. I've never launched a successful business and currently am doing this as a sole proprietor. I have no idea how to succeed or even what to do with the investments if I accept.

    Any advice for a total noob? Do I need to contact a lawyer and set up an LLC? If I take on investors, how the hell do I value the company properly and again, do I talk to a lawyer about this?

    edit: This really took off so thank you everyone for the comments, I'm reading everything but will not be able to respond to everyone. I've gained some great insights and found the direction I'd like to move.

    submitted by /u/TOMAHAWK_____CHOP
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    I'm grateful for this subreddit! A few months ago I asked for feedback on a project and now it has grown to almost 10k newsletter subscribers and >4k visits a month

    Posted: 06 Jan 2021 09:41 AM PST

    Some time ago, I created GoodSalesEmails.com to help other entrepreneurs out there getting inspired when doing cold outreach campaigns.

    On this page you can basically learn how to write successful cold emails (I honestly believe this is such a critical skill for any entrepreneur) by looking at the best sales campaigns from leading B2B SaaS companies.

    When I previously posted it here, it was still a work in progress, with a limited number of examples. Now, I have uploaded more than 100 examples from companies like Gong, Gusto and Rippling. And share a newsletter with almost 10k subscribers!

    Thanks to everyone who gave feedback and joined this project so far. I plan to keep improving it and add new stuff every month. Feedback is STILL much appreciated! 🙌

    PS: If you wish to feature some of your sales emails feel free to reach out

    submitted by /u/r_pg101
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    A Warning About Braintree

    Posted: 06 Jan 2021 11:52 AM PST

    I work for a business that does millions of dollars of online sales exclusively using Braintree's payment gateway (Braintree is owned by paypal btw) and for years they have had pretty good phone support.

    Two days ago Braintree ended their phone support completely and now the only way you can get support is to send them an email. I sent them an email for an emergency two days ago and have still not received a response.

    I hate when companies pull back on customer support. You asshats have hundreds of millions of dollars and now you want to fuck over your customers? I would recommend that anyone considering Braintree read this warning and choose another company. They don't care about your business and don't care about you.

    submitted by /u/warnakey
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    Start-up building touch-based tablet to help visually impaired people watch football!

    Posted: 06 Jan 2021 11:00 AM PST

    https://youtu.be/_ermFPQL-_8

    Hello everyone,

    We are three students working on our startup, Field of Vision, a device that will help visually impaired people experience live sports. Check out our video! We'd love to hear your feedback!

    submitted by /u/timf34
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    AMA - Amazon Related Questions (from an Amazon Insider)

    Posted: 05 Jan 2021 02:44 PM PST

    Hi all,

    I'm thinking of starting a free newsletter on substack (platform for newsletters) to help brands sell on Amazon. Disclosure: I currently work in the advertising dept at Amazon corporate, helping the largest brands grow their Amazon business and I have also sold on Amazon myself so I have experience years of experience here.

    I ALWAYS get asked for help/tips/tricks on how to improve someone's Amazon business. I always love to help, however, my bandwidth is limited due to being dedicated to a specific set of brands. Instead, I was thinking of doing a free newsletter to serve as a resource for those that don't necessarily have a "specific" Amazon contact inside Amazon, but want to stay on top of all things related to Amazon (announcements, features etc) and how it impacts their selling business on Amazon. With that being said, I wanted to do an AMA to test how people would feel about this.

    I will not disclose any confidential/sensitive information related to Amazon or other sellers, nor will I help you personally with your account, HOWEVER, I will answer all and any questions related to Amazon (that I'm allowed to), for ex: hot categories, best way to get your product to rank, new features such as twitch and video ads, how to get started, or general tips.

    Fire away I will try and answer all questions!

    EDIT: Wow, the responses/questions have been MUCH more than expected. I think it would be much more useful to do this via a free newsletter on a weekly basis where I go more in-depth, I'll also do future AMAs if people want. Created it here if you want to subscribe! workingbackwards.substack.com

    submitted by /u/sharkbat3
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    Building 12 startups in 12 months for 2021

    Posted: 06 Jan 2021 06:08 AM PST

    Hey guys,

    I'm doing this challenge made famous by Peter Levels a fews ago, where I have to build a startup every month for 2021. I guess startup is probably an exaggeration, it will most likely be many prototypes but I'm super excited to build lots of ideas.

    I'm a programmer by day but might also try building some physical products although I have very little experience. If you have any suggestions on Physical things to build I would love to hear them!

    If you want to follow along, I just posted an Intro video.

    Isaac

    submitted by /u/isaacgeorgejoy
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    A lesson I've learned so far

    Posted: 06 Jan 2021 11:21 AM PST

    I wanted to share a lesson that I've learned, which I believe is very important, but I still struggle to follow every day because it's kind of an ongoing thing that we may need to remember from time to time.

    I'm not sure how to word it so I will give some examples, but basically, the lesson is that you can't always go by your own beliefs or feelings. This may seem kind of obvious but it may affect us more than we think, or sometimes we may forget this without realizing. I'm no author so bare with me lol.

    Example one: Since becoming an entrepenur, I have learned to think of money in different ways. I have also become very frugal at times. A lot of this came from my learning about investing as well. Now, it just feels like common sense to me. I say to myslef ''Why in the world would anyone buy this?'' or ''why would anyone pay this much for something?'' ''It is a total waste of money.'' ''I know how much it costs to make that, the markup is ridiculous, I'm not paying for that''. I tend to feel very strongly about these things. I see my friends complaining about money and they go and order food, not only wasting money when they could cook something for a fraction of the price, but also paying a delivery fee. To me, this is just so fucking stupid ( sorry for the language). But guess what? It's not stupid to the person who owns the restaurant, or the person who owns Uber Eats or Door Dash. This can affect me when I am pricing my products. How am I going to charge a price that I would never pay myself? I have to remember that not everyone has the same goals, not everyone has the same amount of financial literacy, not everyone's social media feed is filled with entrepreneurship and fincancial advice ( what we see on social media every day can really affect our perception of reality ) , and some people make so much money that they don't even have to worry about it. These things also tie into our target markets.

    Example two: This goes along the same lines and is a little repetitive but the example is different. The things that we see as dumb, or things we may have a negative attitude towards, are not the same to everyone else. For me, I personally hate social media. I don't believe in it and for the most part I think society would be better without it. I don't see things how many others do, I don't really see the point of having a lot of followers and posting pictures of myself to share with everyone. Now your probably thinking wow this person is so negative. I'm really not lol. But the other day my friend shows me this girl's profile, to point out how it's organized in a way people like to see. I automatically think about how fake it is. She's flexing all this stuff, has a bunch of selfies, all that. I hate seeing this lol, no offense to anyone who does it, and if I slow down I actually can understand it. But I have to remind myself, a lot of people like to see this. And I failed to see the bigger picture. Everything about the profile was very clean looking, the pictures all had the same feel, and from a marketing standpoint, it was very well put together.

    So I guess what I'm saying is that it's important to be aware of our emotions, our feelings, our moods, and stay open-minded and be able to see the positive sides of things. Again, we may think something is stupid, but somewhere someone is laughing all the way to the bank because they saw the opportunity in it. There is always a positive to every negative, and that goes for every aspect of life as well. This can help us find new opportunities and build the ones we have already started, from pricing to marketing and every other aspect of our busniesses.

    Edit: feel free to share some of the things that bother you or or not that positive about, and how you can change this into something positive, or just experiences you had, I think it helps to kind of actively reflect on it.

    submitted by /u/ghostdini7
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    Those applying for business loans, how do you answer this question?

    Posted: 06 Jan 2021 12:19 PM PST

    "Can you clarify what your back-up plan is in a worst case scenario if the business were to fail? i.e. How would you repay the loan funds & support your personal outgoings?"

    I'm applying for a business loan and my business advisor suggested I provide answers for the question above in the business plan. I'm opening a restaurant. Thanks!

    submitted by /u/omnicrom10
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    I want to do something with the organic following I built and the wide reach I have but don't know what

    Posted: 06 Jan 2021 10:15 AM PST

    Hello! I have a solid, organically grown following on instagram and people actively engage with my private Facebook page. I have friends all over the world, from different life adventures (travels, university, etc.) I know that if I found the right niche and consistently worked on branding I would be really successful but I don't know what or where to go based on "target audience" my analytics are all over the place and are not consistent at ALL so I don't know if I even have one - I know I will if I target a niche, but I have so many I honestly don't know where to start. Does anyone have any advice??

    submitted by /u/TaylorsArmy
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    Noomi - An interest based social network to have great conversations with people who share your interests. Current social media incumbents are focused on strengthening existing connections, no way online to meet people who share our interests.

    Posted: 06 Jan 2021 01:34 PM PST

    Elevator pitch: an interest based social network to have great conversations online with people who share your interests and passions.

    Problem we are solving: As more and more people join the internet, it has become really difficult to have good conversations or even just talk online. Twitter is horrible. Facebook and Instagram have people just trying to show off their talents, and not looking for discussions, reddit is asynchronous and occasionally hard to find good content in niche interests, online forums are stuck in 2005 design wise (not built for mobile) and so on.

    We are building a platform, where you can talk to others who share your passion, your hobbies and can talk endlessly about it. We want to help everyone find their people, their tribe, and give them a feeling of belonging. For many of us, its simply reassuring to know there are others who like what we like, even if people nearby us don't. (I have a friends' group who have never seen Star wars. Thank you for some acquaintances on Twitter I could discuss Mandalorian season 2 with).

    Our vision: A place where everyone can find people who share their interests, no matter how niche. If they want to start on a hobby/habit, they can find others at similar starting points and form sort of a peer group to motivate them and keep them honest.

    Why we are doing it now? Before pandemic, it wasnt needed as much as your offline interactions were fulfilling - those serendipitous conversations with almost anyone are really worth it - though not at scale, and when that stopped due to WFH and pandemic, many users could feel something missing.

    Features: - Synchronous communications and async communications
    - Mobile first - not just responsive but built keeping mobile users in mind. - Pull mechanism: With a personalized feed, the content finds you, and you do not have to go to different websites or groups. - Ability to form groups - Easing the job of mods (with only moderation about inappropriate content, this makes moderation easy, and they can find time for more activities) - Email verification to avoid trolls.

    P.S. if you have feel like you would want a feature, do let me know. Links wise, please reply to this post, and would provide.

    submitted by /u/ankitm1
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    Advice for Startup company

    Posted: 06 Jan 2021 12:44 PM PST

    Hey everyone,

    We are a team of 4 people and are currently working on a startup company, which is in the development phase. Since only 1 of us has the skills to do some hardcore development the rest of us are stuck on what the next step is beside the developing the solution.
    I would tremendously appreciate if I could get some advice/best practice on what to focus on working with, to have a "functional" company when the development is done.
    Since I am new to this sub, I apologies if this post does not meet the requirement to post in this sub.

    submitted by /u/h0lyB100d
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    What book have you read that made you say "This Changes Everything"

    Posted: 05 Jan 2021 02:27 PM PST

    For me it was probably Mastery by Robert Greene...what do you think?

    submitted by /u/marketingiskindacool
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    Looking for a Shopify Developer or Reference

    Posted: 06 Jan 2021 09:49 AM PST

    Hello,

    We are looking for an experienced Shopify developer, or if someone knows a good developer they can reference as well, PM is okay

    Thanks!

    submitted by /u/Professor_Kay
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    I’m having a problem with my company name (US)

    Posted: 06 Jan 2021 08:30 AM PST

    I am looking to use a company name, but there is a company in the U.K. has the same name. Can I still make it an LLC in the US? im also thinking about adding other words around it to make it unique like "The ***+++ Company" will that work or will I get sued for having a name too close?

    submitted by /u/purplemon375
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    Opening a High-End Bodyshaping Center/Spa

    Posted: 06 Jan 2021 08:27 AM PST

    Good day fellow entrepreneurs,

    My wife and I are looking to join a very successful franchise from Poland. We live in SoCal, and it is a perfect fit for our area.

    It is a combination of Beauty/Fitness/Wellness - a Body Shaping Concept. They produce machines in Poland. I've tested some of them (so did my family members) and am amazed by it.

    QUESTION - What should be our first step to find out what licenses our business has to carry? Should we visit the City Hall first?

    I really appreciate any help you can provide.

    Cheers to your success.

    Matt

    submitted by /u/mateuszwis
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    Here are 7 truths I take from 2020 to 2021 and beyond

    Posted: 06 Jan 2021 12:43 AM PST

    Every year, I'm amazed by how much I changed, how much I learned and how little I still know. Here are 7 truths I take from 2020 to 2021 and beyond.

    1. Relationships, Success, Health, Money are a product of compound interest. The serious returns come from consistent investments made over the course of many decades.
    2. Preparation is the best hack to success.
    3. There's no such thing as having not enough time. Time dedicated is proportional to the activity's real priority.
    4. Happiness is a state of mind, not a future goal.
    5. Nobody finds their purpose. It's up to you to go out and create it.
    6. Unlearning incorrect teachings is harder than learning new things.
    7. Growth comes from doing hard and uncomfortable things
    submitted by /u/rehmanabdur23
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    Titlu - G suite purchased through Wix - what is the catch?

    Posted: 06 Jan 2021 07:41 AM PST

    Wix offers an email account powered by G Suite from Google Cloud at 50% off. As a small business owner on a budget, I was thinking about purchasing an email account from Wix since it's less expensive. However, I was wondering what is the catch - can you sign in independently on Google Workspace with the Gmail purchased through Wix or are you stuck with Wix for using the Gmail? What are the disadvantages of purchasing the G suite through wix?

    submitted by /u/Neuro_User
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    To the ones that made it and run a decent well running business

    Posted: 06 Jan 2021 12:06 AM PST

    Do you have time to do the things you want? Go on date, play video games watch movies with your kids etc

    submitted by /u/Intempore
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    Data broker business

    Posted: 06 Jan 2021 07:25 AM PST

    I researched about data brokers and how this market functions and i find it really interesting. But sadly there is no information at all on how i could start such a business. Has anyone here some experience or information about this business?

    submitted by /u/gLr007Bm
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    Top Rules of Pivoting for Startups: What, Why, and How

    Posted: 06 Jan 2021 06:45 AM PST

    Hey guys! Our recent post is all about startup pivoting. You might find it worth reading If you're wondering if you should pivot or you aren't sure if your new idea is better than your last one sharing.

    https://2muchcoffee.com/blog/top-rules-of-pivoting-for-startups-what-why-and-how/

    submitted by /u/kate2mc
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    How Much YouTube Adsense Paid Me For 1 Million Views for an Average Creator 2021

    Posted: 05 Jan 2021 03:51 PM PST

    To start this off I do want to say that it varies by a lot. From all the research I've done it's usually $1-$10/1000 views. $10 being really high and $1 being very low. Some creators do better than the average but that's very rare.

    BUT I would like to discuss my experience. Now I have 2 channels 1 monetized 1 not. My monetized channel is pretty, lets say diverse. I talk about a lot of different things. I don't have a dedicated audience, I don't have a specific niche, and I don't have advertisers jumping to put their ads on my channel. The channel overall is pretty average. I have 6,000 subs and last year I had just over a million views. The reason I say all this is because I feel like most people just starting out making a little money from YouTube are in my boat. So with all that said this is how much I made from 1 Million Views.

    Views: 1,012,017

    Earnings: $4,048.04

    I get around $4/1000 Views

    Quick Calculation: (Your Views) x .004= Earnings

    MY VIDEO Discussing This If You Want To Take A Look

    Let me know if this was helpful and if you have any questions!

    submitted by /u/freeusa
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    11 Lessons From 3 Failed Startups

    Posted: 06 Jan 2021 06:28 AM PST

    https://medium.com/the-innovation/11-lessons-from-3-failed-startups-ae391fafb984I

    These lessons were learned the hard way, I hope this helps someone.

    submitted by /u/Blanco_ice
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    Top Rules of Pivoting for Startups: What, Why, and How

    Posted: 06 Jan 2021 06:26 AM PST

    Hey guys! Our recent post is all about startup pivoting. You might find it worth reading If you're wondering if you should pivot or you aren't sure if your new idea is better than your last one sharing.

    https://2muchcoffee.com/blog/top-rules-of-pivoting-for-startups-what-why-and-how/

    submitted by /u/kate2mc
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    Hey cool cats and kittens, for those of you with a desk or cubicle, what do you have that is a must for an accessory, and are there any cool motivational trinkets or banners that you would recommend?

    Posted: 06 Jan 2021 06:05 AM PST

    I am getting a brand new cubicle and am looking for neat ways of setting it up.

    submitted by /u/letsgetyoustarted
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