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    Home Unlabelled Thank you Thursday! - February 11, 2021 Entrepreneur

    Thank you Thursday! - February 11, 2021 Entrepreneur

    February 11, 2021

    Thank you Thursday! - February 11, 2021 Entrepreneur

    Thank you Thursday! - February 11, 2021

    Posted: 11 Feb 2021 02:00 AM PST

    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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    20 Lessons from Elon Musk on How to Win

    Posted: 11 Feb 2021 07:26 AM PST

    While some of these lessons might seem obvious, applying them to our lives on a consistent basis requires constant reminders and a lifetime of practice. Even Elon Musk probably breaks many of these rules himself. If we all adhered to the following 20 best practices on a regular basis, we'd possibly all be 10x more successful than wherever it is we are...

    1. Listen carefully to the critics to hear what they have to say, but don't always think that they happen to be right! Musk: "When Henry Ford made cheap, reliable cars, people said, 'Nah, what's wrong with a horse?' That was a huge bet he made, and it worked."
    2. Don't continue doubling down on a solution that isn't working. The definition of insanity is repeating the same thing over and over again and expecting a different outcome. Musk: "Don't delude yourself into thinking something's working when it's not, or you're gonna get fixated on a bad solution."
    3. Make sure you're surrounded by people you enjoy being with…of course, if it is within your control. If the workplace becomes toxic, leave it. Or try to work with others on the team to develop a more pleasant work environment Musk: "It's very important to like the people you work with, otherwise life [and] your job is gonna be quite miserable."
    4. Learn from the successes and failures of others. Musk: "You have to say, 'Well, why did it succeed where others did not?"
    5. Think about solutions that are 10x better than anything else out there. A slight improvement is not good enough to achieve rapid adoption and behavior change. Musk: "You shouldn't do things differently just because they're different. They need to be… better."
    6. Think about all the pieces of the puzzle and focus on each of the individual puzzle pieces without neglecting the others. This is an ongoing effort of personal tug of war between various priorities and your time. Never forget that time is your most valuable asset. Musk: "If you're trying to create a company, it's like baking a cake. You have to have all the ingredients in the right proportion."
    7. Build the right team or join the right team; it's often much more important to achieving success than the product itself. Musk: "Starting and growing a business is as much about the innovation, drive, and determination of the people behind it as the product they sell."
    8. Ignore the resume. Think about a teammate's character as much, if not more, than their specific technical skills. Musk: "My biggest mistake is probably weighing too much on someone's talent and not [enough on] someone's personality. I think it matters [a lot] whether someone has a good heart."
    9. Be a good person; whether you think you're an example or not, you are, particularly in a work environment. Many people watch and observe your behavior, even if you're not Elon Musk. Be a shining example to your teammates and colleagues by following the simple Golden Rule of doing to others what you would want done to you. Integrity matters. Musk: "We have a strict 'no-assholes policy' at SpaceX."
    10. Learn how to tolerate pain. A lot of pain. The short and medium-term horizons are often loaded with obstacles and landmines. Beware of them, and attempt to step around or disarm the landmines wherever possible. If your leg is blown off, figuratively speaking, of course, realize that you're still alive and continue moving forward. Learn, iterate, and do better the next time in avoiding those landmines or disarming them altogether. Musk: "Being an entrepreneur is like eating glass and staring into the abyss of death."
    11. Pursue what makes you happy, not only in work, but outside work. Try new hobbies. Join new meetup groups. Try learning a new skill. Start a side-hustle project that you're passionate about that could someday become a great company. Musk: "People should pursue what they're passionate about. That will make them happier than pretty much anything else."
    12. After carefully planning a course of action and deciding that you're going to do something, go all-in. Pour 110% of your energy into achieving the carefully thought-out objective. Musk: "What makes innovative thinking happen?… I think it's really a mindset. You have to decide."
    13. If you believe strongly enough in something, pursue it. If things don't work out initially (as they seldom do), don't abandon too quickly. See point # 19 below. Musk: "When something is important enough, you do it even if the odds are not in your favor."
    14. Try to think positive, even when things are down and remind yourself of the old proverb: "this too shall pass." It's often in pits of darkness that we can see light at the end of the tunnel. Musk: "If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it's not."
    15. Listen to criticism. Ask for feedback, including negative feedback. Absorb it. Learn from it. Apply criticism that is relevant and discard the balance. Musk: "Really pay attention to negative feedback and solicit it, particularly from friends. … Hardly anyone does that, and it's incredibly helpful."
    16. Get stuff done that will have a lasting impact on your community, environment and the world (ie no chasing quick $). Do it specifically to make a difference in the lives of those around you and the reward will be significant and generous in overall well-being, and might even bring financial success (which is only one small component of overall success in life). Musk: "I don't create companies for the sake of creating companies, but to get things done."
    17. Do not spend your entire life thinking about ways things can fail. Get out there and do it. If it doesn't work, iterate, and then try again. Iterate again. And again. Most people spend their days optimizing for every possible downside scenario. This obsessive down-size planning ties up mental resources to think creatively and outside of the box to get it done. You should of course analyze the problem or deal at hand and solicit input from others on downside scenarios. Don't let perfection stand in the way of bringing something good to market. You can always make it better over time. A corollary to this rule for entrepreneurs is to make the product or idea real and tangible as fast as possible. This will help in the feedback loop process discussed in rule #15 earlier and #18 below. Musk: "There's a tremendous bias against taking risks. Everyone is [always/frequently] trying to optimize their ass-covering."
    18. Develop a core group of advisors who will serve as a key part of your constant feedback loop (along with critics – Rule #15 – and initial customers – Rule #17). This core group of trusted advisors could be close friends, family members or even members of your community who know you well enough to offer meaningful advice. Reach out to these advisors often and consistently. Musk: "I think it's very important to have a feedback loop, where you're constantly thinking about what you've done and how you could be doing it better."
    19. Have grit. Do not give up. Most importantly, have patience. It's one of the hardest lessons of an entrepreneur since entrepreneurs often want results quickly. Musk: "Persistence is very important. You should not give up unless you are forced to give up."
    20. Embrace change. Getting cozy and comfortable is easy. Sometimes it's the right thing to do. But oftentimes, refusing to accept the inevitable change will stunt your own growth and path in life, whether in the personal or professional domain, and prevent you from achieving lasting success. Musk: "Some people don't like change, but you need to embrace change [especially] if the alternative is [a] disaster."
    submitted by /u/henry_gindt
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    This teeth aligned startup sold for $1 Billion two years after product launch.

    Posted: 11 Feb 2021 08:33 AM PST

    The direct-to-consumer era has rarely, if ever, seen a rocket ship like Byte.

    Entrepreneurs Scott Cohen and Blake Johnson founded the company in 2017 and launched its teeth straighteners in January 2019. With the company on pace to hit $100 million in annual sales less than two years later, publicly held Dentsply Sirona Inc. acquired the startup for $1 billion.

    https://www.bloomberg.com/news/articles/2021-02-11/byte-aligners-boom-lead-to-1-billion-acquisition-by-dentsply-sirona-xray-q-a?srnd=checkout&sref=14Z55afH&utm_source=url_link

    submitted by /u/dabirds1994
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    How do I tell my partners I need to step away from our start up?

    Posted: 11 Feb 2021 08:26 AM PST

    I have been running a company for the past three years on the side of finishing school and working as an analyst at a CRE firm. I'm really liking CRE and don't feel like continuing to try and start the other business has much benefit to me. It causes stress, it's expensive, and doesn't offer the same level of joy it used to. I know it's the right decision to step away from the start up, but don't know how to go about it. We were friends before we started the company and had some successes, but it has sense changed and is no longer productive. Any advice for how to go about it? Not from a dissolving the LLC standpoint, I know what our articles of organization says. From the standpoint of the actual conversation. Any advice is appreciated. Thanks!

    submitted by /u/WookieMarine
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    Update on co-founder without equity. Negotiation underway

    Posted: 10 Feb 2021 10:21 PM PST

    ETA: Thank you all to everyone who commented! And a HUGE thank you to u/howthecookiecrumble for the analysis and crystal clear explanation of my current situation and my next steps. I'm incredibly grateful!

    Hi everyone, it's me. The stupid person who jumped the gun in this partnership. The previous thread is too long now and I dont want this to be drowned out.

    Original post: https://www.reddit.com/r/Entrepreneur/comments/lgsrdt/is_a_cofounder_without_equity_still_a_cofounder/

    I want to clarify a few things:

    • I haven't always been taking a salary. I've only been taking a salary from this business for 5 months now. We started this in December 2019, I had a full time job then and I was doing the pitching and the structuring on the side. My previous job was demanding, starts at 8am and would end around 12midnight. After that I would work on this business until 5am. December 2019 until 5 months ago, I wasnt earning a salary from this business.
    • I hope that I will not be bringing a lawyer into the picture to talk to him. I'm not that kind of person and I hope I dont have to be. However, I will consult a lawyer myself.

    Now for the conversation.

    It was quite short and still going on now because of sporadic replies. We're both busy. It's been gentle. He's not really knowledgeable on the difference between stocks, equity, shares, and stock-based compensation. I asked him what will be my guarantee if he just decided to cut me out? I only have profit sharing, if I have equity he has to buy me out. He said he will have to consult with his finance guy. These are the points he brought up:

    • We are going for the long term here. We still need to earn. (We are not profitable yet as we are investing on infrastructure with the clients that are coming in)
    • I'm open to it. Let's discuss and think about it first. Equity sharing cant be finalized yet because we're not earning (I told him equity sharing should have been finalized in the beginning).
    • In the contract, you have stock value linked compensation. I think this means you have benefits of having equity. (Again, he's unsure and will have to consult with the finance guy.)

    So there. I have a few questions:

    1. In the contract, the wording is (I) shall be entitled to a stock-linked compensation after serving at least 2 years of continuous and satisfactory work. Is this similar to stocks and shares? Does this also mean equity?
    2. The people in the articles of incorporation are the shareholders. It sounds like he wants to offer me stocks. Is that different? If yes, how? Which one is equity?
    3. Should I prioritize the stocks over shares?
    4. This finance guy is also looking into investing in the future. How do I make sure that my shares/stocks/equity whichever it is called will not be diluted?
    5. I might be confused with the interchangeable wordings. I am going to CONSULT a lawyer. I have a schedule tomorrow morning with her but your inputs have all been very helpful. nothing beats experience so please help me out as well.

    Thank you all so much.

    submitted by /u/thelostpinay
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    Case Study: Advertising Strategy That We Used To Go From $0-110,000 in Two Weeks

    Posted: 11 Feb 2021 12:23 PM PST

    This is meant to share with other startup entrepreneurs. I just wanted to give some perspective on how we advertise and some good things to keep in mind for those of you who want to advertise but need some direction. Although we own and operate a few businesses, this venture in consulting is also a startup technically. I LOVE reading you guys posts and everones different businesses. Hope this helps give some insight into effective advertising. Remember. There are only two important things in business: having a good product/service, and getting people to see it. I hope you all enjoy my take on how to get people to see it!

    Who I am: My name is Stanford Nix. On paper, Im a typical wall street MBA kinda guy. Dual MBA in Finance and Business Intelligence/Analysis. Currently in process of getting a PhD in behavioral economics. I work and own a small cap investment firm with my Twin brother Stephen. We are literally identical in everything we do and we probably have an unhealthy addiction to coffee. Imagine having a pashion for what you do, and having someone who is quite literally a carbon copy of yourself, who also had the exact same passion. Thats us.

    What I do: I am a consumer behavior analysis advertising consultant. In a one-sentence answer: I help people understand their consumer data, where they are getting traffic from, and help them scale their revenue through the analysis and application of behavioral economics. We do this by advanced modeling, and buy-side analytical algorithms to accurately predict sales. Basically, we help people generate more revenue through effective advertising. The "if you spend 1$ here, you'll make $3 back" kind of advertising. Super detailed and super helpful.

    How do i know what Im doing? We (my twin and I) have started 3 separate companies. All in house, and grown by us. Millions of dollars in revenue later, we have started a new venture. A consulting agency that takes our applicable knowledge of operations and advertising, and puts them to work with our partners. Its building another business like we have before under our holding company, but instead of products, is a cashflowing service. Account managers, sales team, media team, the whole works.

    Case Study: I wanted to give a little insight on our advertising strategy for a company we worked with recently. Pretty straight forward. We consult on their entire business, with a focus on our specialty of consumer behavior analysis, that feeds into the advertising strategy. We pretty much were given free reign to do what we wanted. The client ran day-to-day operations and all we came on board to help with was the advertising and scaling.

    Once their in-house team came up with the content and copy of what product they wanted to push, we started doing some research and model building on what audience is most suitable for advertising, based on a few data sets we gathered. This specific company had never done really any advertising before, ran a relatively small company and didnt have to much budget to work with, which is totally okay by the way. You dont need to allocate tens of thousands of dollars off the bat.

    Our initial advertising strategy was pretty simple:

    We started with 4 creative variants, which all were built around the data we had already. This can be tweaked how you best think, but stay decently close to your base.

    We used VIDEO. This is much better currently. No idea why. Probably has something to do with more time on peoples phone. Im sure there is a huge analysis on how much more people watch video during the shutdowns. Whatever. We usually ask our clients to come up with a lot of different photos and video, so we can have a deposit of material to work with. The OTHER thing with video is it lets us breakdown interest in the ad even further between groups of people who watched the video at different lengths (didnt watch the video at all--watches 30seconds--watched 90seconds etc).

    Our initial ads were built around current situations. Most people are stuck inside. So we played on that.

    This usually works best in the headline. They are pretty simple but straight to the point, you dont need to spend a lot of time on them. You can always change these in the future and they dont need to be long. In fact, make sure they ARENT long.

    Here's a few examples for ya -

    "Stuck working out inside?"

    "Get these *product* to make your quarantine more enjoyable "

    "Do you have *need/problem*. Then you definitely need *product*.

    The initial ads were as follows.

    // Formula 1 //

    (Promise) or (Major Benefit)

    Benefit

    Social Proof

    Benefit

    (Scarcity + Deadline)

    (CTA)

    //Formula 2 //

    Benefit 1

    Benefit 2

    Benefit 3

    (optional) benefit 4

    (Subtle Scarcity)

    (CTA)

    (Link)

    // Formula 3 //

    (Clever Phrase/Hook/Question/)

    (Scarcity + 📷)

    (CTA)

    (Link)

    ________________________________________

    Once we got results from the ads, analyzed the data, we started to scale. Our current form of scaling is what we like to call horizontal scaling, or "shotgun scaling"

    Started by duplicating the ad sets 10-15x.

    Each of these ad sets had a slightly different bid level.

    We bid from a low to high level and covered everything in between.

    For example…

    Bid level - 4,6,8,10,12,14,16,etc…

    We were able to pinpoint the winning bid levels very quickly without much work.

    Let's say your best-performing bid level was $12…

    To dial in even further, duplicate the ad set 3x and make the bid level $11.50, $12, $12.50.

    This allows us to create a PERFECT balance between CPA and delivery.

    The only step left is to raise the budgets!

    We then raised the budgets, and cut the ad sets that didnt work. And repeated!

    _______________________________

    All of this was in 2 weeks. We had such good results, and tailored all the ad sets so specifically, that they went from $0 on this campaign, to $110,000 in TWO WEEKS.

    Now obviously its not every day that a client comes to us and literally gives us a credit card to do what we want, but I thought it was an interesting case and wanted to share.

    Keep in mind there are only two things that make up a business. Only two: having a good product/service, and getting people to see it. You cant force sales. And what we see a LOT of the time, and the reason we started this business, is we see a lot of passionate business owners out there who have great products and services, but dont know how to show them properly.

    Sorry for making this so long. Ive had too much coffee today haha. Stay safe out there and keep working hard!

    -Stanford Nix

    submitted by /u/TheMarginCaller
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    How to Get Startup Ideas

    Posted: 11 Feb 2021 07:53 AM PST

    This from Paul Graham is a classic that everybody should read.

    I'm rereading it and it's inspiring the heck out of me this morning.

    "Most things that are missing will take some time to see. You almost have to trick yourself into seeing the ideas around you.

    But you know the ideas are out there. This is not one of those problems where there might not be an answer. It's impossibly unlikely that this is the exact moment when technological progress stops. You can be sure people are going to build things in the next few years that will make you think 'What did I do before x?'

    And when these problems get solved, they will probably seem flamingly obvious in retrospect. What you need to do is turn off the filters that usually prevent you from seeing them."

    submitted by /u/Infinite_Whisper
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    Getting Started

    Posted: 11 Feb 2021 10:58 AM PST

    Hello all,

    I am new to this sub, today is my second day so I hope the mods don't get me. I am about to graduate college, and I would rather start my own business than work for one. I have some ideas I think are pretty good (I would love to share some), and some decent technical skills (engineering degree). What do I do exactly? I've taken classes on this stuff but I feel the real world is a different place than class. Any advice is great!

    submitted by /u/danktank360cowboy420
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    Is it possible to start a software company without knowing code?

    Posted: 11 Feb 2021 01:38 PM PST

    Lately, I've been very keen on building an app or software (not 100% clear on the idea yet) but the main thing stopping me from doing so is that I basically know nothing about coding, learning enough to do something good would take a lot of time, I don't have enough resources to hire someone, neither know a developer who'd be interested in co-founding. I've looked into platforms like bubble.io but I'd like to receive advise on what's the best way I can approach this project.

    TIA!

    submitted by /u/ksantirg
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    What do you do when your business model/niche becomes saturated?

    Posted: 11 Feb 2021 01:17 PM PST

    Change your business model? Change your niche?

    submitted by /u/helllyesss
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    Engaging with your ideal audience on social media 101

    Posted: 11 Feb 2021 05:57 AM PST

    If you are running a business and promoting on Social Media then I am sure you have heard the word "engagement" a million times, but what is engagement and how does it work? Social Media engagement is the measurement of likes, shares, and comments. People tend to focus on the number of followers they have but if you're serious about growing your brand you need to make growing your engagement rate a priority. In this post, we are going to share with you how to engage, the right way, on Social Media!

    Create the right content

    Creating valuable content that people can engage with is the first step in building a community around your brand. Strive to create content that people can save, share and tag their friends in. This will not only increase your engagement rate but will also tell the platform you are using that this is good content and should be seen by more people! You can create polls, quizzes, and questionnaires that followers can interact with. I would also suggest adding questions in your captions that people can respond to.

    Share others content

    Use your competitors to your advantage! Share content from people within your industry to not get noticed by them but to get noticed by their followers. Don't just share content and leave it at that, add a comment or your opinion to the post to show you have a genuine interest and that you too are an expert in your field! This is a great way to create brand awareness amongst your chosen industry and build a community of like-minded people.

    Respond to comments

    We all know how it feels when a brand we follow responds to us on Social Media. We feel important and that we are valued by them. Therefore it is vital that you create this feeling within your customers too. Responding to comments may seem simple but there is an act to this. Ensure you respond to every comment on your posts and any responses you received on other posts, however, I would suggest saving a few of these responses for the next time you are about to post ( as long as this post is within a few hours or the next day). This can lead to an increase in views on your next post and hopefully an increase in engagement.

    Create a conversation

    Ask open-ended questions on your posts as well as other people's posts within your industry. This is a great way to start a genuine conversation and build a connection with potential customers. Ensure to ask questions which need more than a "yes or no" response, to keep the conversation flowing. Remember people like to feel important so asking for their opinion, advice, help, etc is a great way to get a response and continue to build your community.

    Be genuine

    You are probably sick of hearing the word genuine by now, but it is the most important thing to remember when you are engaging with potential customers or people within your industry. Gone are the days where you could leave a heart emoji or write one word on a post. This just doesn't work anymore and makes you look "spammy" and uninterested. When you are engaging with content, tell the person how the post makes you feel, or what it reminds you of. Share your opinion or another tip that you have or simply complement their post but in an honest and meaningful way. You want people to have a positive view of your brand and see it as honest, transparent, and trustworthy, therefore you need to engage in this way too!

    Stop worrying about how many followers you have and start focusing on how many people are actually interacting with your content. This will help you to see the type of content that is working or not and guide you to create more valuable posts. If you need help in creating high-quality, valuable content, then get in touch with us at Fas X Fis.

    We offer Content Creation Services for Social Media to help build brand awareness, increase sales and save you a lot of time!

    submitted by /u/conluddd
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    Anyone here who runs a roofing business or similar where they need to manage schedules of their guys?

    Posted: 11 Feb 2021 11:06 AM PST

    Is there a particular app you are using? Most apps I see charge quite a lot of money for something quite simple. Was wondering what apps everyone was using. Especially for sudden changes in schedules etc.

    submitted by /u/AssumptionFunny4732
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    How do I start LLC if I am not in the US?

    Posted: 11 Feb 2021 11:00 AM PST

    and if it's impossible how can I start a LLC cheaply online

    I plan to develop an app and publish it through this LLC

    Ps: not a US citizen or resident.

    submitted by /u/n0thxbye
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    Does anybody have experience in the food production (prepackaged) industry?

    Posted: 11 Feb 2021 10:31 AM PST

    I have dream that is similar to the story of the founder of Chobani yogurt. If you are unaware of his story he is an immigrant that bought out an old dairy factory with every dime he had and turned it into a multi million dollar franchise.

    I often make an international food item at home that I think works well as a snack, tastes good, and is healthy. I think those three factors would make it do well just as Chobani has.

    Does anybody have experience, tips, advice ect. on making this dream come true?

    submitted by /u/Mainaccnt22
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    Subscription based website?

    Posted: 11 Feb 2021 10:25 AM PST

    Hi fellow entrepreneurs! This is my first post and I just have a question about subscription based services and how to create an online gate to allow people to pay online. I want to start offering a service for people but I do not know the best way to accept credit and debit cards. I want to be able to accept them online. This is my first time trying to offer a service to people and I want to do it right. It is also a subscription based service. Does anyone know any good websites I should check out?

    submitted by /u/MB0390231
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    Question about starting a business in asset management

    Posted: 11 Feb 2021 10:12 AM PST

    Is it possible to set up a fund managing people's money, where the amount would range from around $1k to $10k, and there would be hundreds of investors? Is there a specific name for a fund like this?

    submitted by /u/roundestcow
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    Digital marketing analogy

    Posted: 11 Feb 2021 08:58 AM PST

    I tried to use Avengers to explain what digital marketing is to my students.

    https://imgur.com/6e3iVP9

    submitted by /u/decixl
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    Finding wholesale buyers for watches

    Posted: 11 Feb 2021 08:30 AM PST

    I have a connection for wholesale priced name brand watches. I sell in large quantities to the east but now I'm trying to expand my buyers into the rest of the world (i live in america). Anyone know how I can find wholesale buyers elsewhere? Maybe a website I can talk to people on or something?

    submitted by /u/MitsuNietzsche
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    How To Build a Successful App?

    Posted: 11 Feb 2021 07:28 AM PST

    Hi everyone,

    in my previous post, I discussed the most common question of want-to-be-entrepreneurs.

    But today I'd like to talk about the most painful pain - how to build a successful app (and became Ilon #2).

    I'll be honest - there is no silver bullet.

    But what I can do is share my own experience. Thus, welcome - https://spdload.com/blog/how-to-create-a-successful-app/

    Wait to hear your feedback :)

    submitted by /u/Spdload
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    my company's competitor failed in 6 months... here is what i learned from their failure

    Posted: 10 Feb 2021 08:45 PM PST

    yea my company's competitor failed in 6 months... they were not my direct competitor, but i think they are maybe a competitor...

    33% same market, kinda similar sounding company name... not exactly a 100% direct competitor but they are i consider my closest competitor

    they failed in 6 months... here is what i saw of why:

    1) unneeded accessory product: not only was their product kinda meh, it actually depended on another product! they had a niche product that depended on another product, an analogy: imagine they make replacement bird cage doors for broken bird cages!

    their "replacement bird cage door" as an analogy is an unneeded accessory to the bird cage owners. a very niche product no one cares

    2) inadequite capital. launching a product with very low capital and it showed. low production values, low quality site, it looks kinda more like project rather than product

    3) shitty brand name. thier brand name kinda sounds like my brand name... except mine is like shorter than theirs and sounds much better. mistype thier name and you get my brand. imagine a name like: "quibi prizons". that is awful name that will stick to no one

    4) overspent on trademarks: they filed trademarks in 4 classes in like 10 countries... all in "pending stage" now. they spent their money on trademarks, and now with no product, their trademark will fail. thousands $$$$ lost

    5) 0 marketing. all was spent on trademarks, so nothing left for marketing. but even then, how do you market a product (as an example) like "bird cage replacement doors" with a company called "quibi prizons?" there was no way to succeed

    but really the 2 nails in the coffins were:

    • unneeded accessory product

    • no capital

    submitted by /u/MissKittyHeart
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    Would you entrepreneurs pay for a brand strategist?

    Posted: 11 Feb 2021 06:01 AM PST

    Hi! I'm looking to start a brand strategy firm for small businesses. I want to help owners find their brand identity, then build a strategy around that.

    How valuable would this service be to you? Would you pay a couple hundred for this service?

    It'd involve a full brand audit, market research and hands on learning for the owner. You won't get a PowerPoint saying here's what I see, here's what to do. I'll actually walk you through everything so that you can be successful even after my service has ended.

    Edit: thank you so much to everyone who's commented. Your advice has been super helpful and discussions are fruitful. I wish you all the best in your journeys!

    submitted by /u/Jbeanz28
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    Opening up a FF restaurant (yes, in covid times)

    Posted: 11 Feb 2021 05:55 AM PST

    Hi, everybody, I'll try to summarize this as much as I can and if you have any questions please let me know. I decided to compete with another local place which is the first one to do this kind of fast food in my city, their administration / customer satisfaction practices didn't sit well with me so as I mentioned I decided to do what they are not doing.

    I've done the math and I know how much (without taking gas/electricity into account) I make for each product.

    I've started seeing commercial lots and other not-so-commercial ones.

    Thing is doing the math on fixed expenses like: Rent, Maintenance, Electricity, Water, Internet, Gas, Wages, Credit (I need it to rent the place and buy some kitchen hardware)

    I need to sell 1,350 of my less profitable product in a month just to break even, which means selling around 60 of those per day since I'll only be open 5 days a week. This is going with the best deal on a commercial lot I could find; downtown and with a healthy amount of people flow. (Next to a gas station, also)

    Another entrepreneur friend recommended to go with a cheaper, smaller place just to cook and do it delivery only (I'm planning to register with UberEats and other delivery services anyway) but this would only make a small dent on the amount of product sold: Assuming I find a place half the price of the commercial lot, I'd need to sell 45 per day, only 15 less and I would be moving in a place without people flow, no one would know where I am, and even if they do, they wouldn't be able to come in.

    I also contacted a marketing agency to develop a campaign but the cost is too high and I'm afraid of the risk: The agency's price is 2-3 times the cost of 1 months worth of fixed costs and it doesn't even include the actual paid advertising, only the content for the campaign.

    One last note: I'm trying to stay within the competitive price range, pricing the products just like my competitor. The product Is new in my city, not a lot of people know about it or have tried it ever in their lives and I have not made a market study.

    Let it out.

    submitted by /u/Crypdan
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    SaaS Folks - What tools do you use to improve user activation/onboarding and product adoption?

    Posted: 11 Feb 2021 05:03 AM PST

    Hello,

    I'd love to know your insights using these tools, which one you recommend, and why.

    Read you in the comments!

    submitted by /u/BorjaPrietoB
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    Canadian Crypto Traders

    Posted: 11 Feb 2021 08:56 AM PST

    Here is my referral link for NDAX,https://one.ndax.io/bfP9I
    You get $10 and I get $10. #DOGETOTHEMOON #BTC #BITCOIN

    E-Transfer is a godsend.

    submitted by /u/Adventurous-Leg-4338
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    Need someone who has company for Stripe

    Posted: 11 Feb 2021 10:26 AM PST

    Cooperation

    submitted by /u/Yakushevgk
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    Read more
    at

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