Wantrepreneur Wednesday! - May 05, 2021 Entrepreneur |
- Wantrepreneur Wednesday! - May 05, 2021
- Cheap plastic injections Molds...getting quotes for $200k. Can’t be real. Last year I was getting quotes for $3k, $5k. Anyone have any real experience with overseas manufacturers?
- My dream is to build up something slowly over like 2-3 years, to one day make $300 a month (that's how much I need to live in my country). But things that are built like that (youtube/twitch/blogs) seem to be giant gambles where 0.1% make money and the rest have 0 views. What else is like that?
- Is there any real danger to copying an existing competitor’s ToS and privacy policy statements?
- The 3 companies stages of an entrepreneur
- Advice: if you had 2k in cash what would you start
- Survey
- What is the most important weekly activity in your business?
- Pet Food niche
- Prototype Alibaba\General Sourcing Help
- Best lender for a sba?
- What are a few ways of getting people to do/see a questionnaire?
- Outside of the business itself, what are some benefits of being a business owner?
- Who uses "Agile" process management?
- Do you truly feel excited every day to work?
- Small Budget Adverts Besides Social Media
- How to come up with mission and vision statement
- Repost - How to improve conversion rates on my small business website?
- Why the Hell was I so afraid in April?!?
- Found an Australian software company I would like to bring to the US. Any suggestions on how to approach them?
- What are the economics of releasing a TV series on Youtube?
- Startup, VR game dev studio, failed - advice appreciated
- How to reach the most suitable early adopters for a B2B SaaS?
- Famous/successful entrepreneurs who became economists?
- Pool & hardscapes start up
| Wantrepreneur Wednesday! - May 05, 2021 Posted: 05 May 2021 02:00 AM PDT 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. [link] [comments]  |
| Posted: 05 May 2021 06:35 AM PDT Hi, I make clocks. Looking into injection molds and I just can't seem to find a good maker with reasonable pricing. Last year for 1/2 of our main pieces we got quoted at American company $5k Chinese company $6k Chinese company #2 $3k Again we only really need two things molded. Now we are increasing our sizes and I literally just got sent a quote for almost 100k. I must be doing this wrong. Old companies we used not responding. Any ideas/advice? This is what I'm trying to model. Two parts and the bottom isn't done [link] [comments]  |
| Posted: 05 May 2021 07:28 AM PDT What else is in the same general vein of building something over 2/3 years so you can eventually make some modest amount of money? BUT something that's less unlikely than youtube/twitch/blogging. Any ideas? Thank you very much for any ideas, much appreciated, love you! [link] [comments]  |
| Is there any real danger to copying an existing competitor’s ToS and privacy policy statements? Posted: 04 May 2021 04:50 PM PDT Have been bootstrapping a SaaS the last several months and getting close to the finish line. As a result of expenses accrued over this time period, I really don't have the budget anymore to have a professional craft these agreements. I've spent the last several days reading my competitors' legal statements and feel as if they have adequately covered their bases with regards to this particular service. Is there any real danger to copying their statements and simply replacing the name of their company/software with my own? And I don't mean entirely plagiarize it but simply re-write it in a way that changes the basic structure of the text but keeps all of the points in tact. [link] [comments]  |
| The 3 companies stages of an entrepreneur Posted: 05 May 2021 12:23 PM PDT From my own experience and the experience of others, there is a growth process as an entrepreneur. Your first company shouldn't be a home run and just doesn't need to be. Here are the 3 key types of companies each entrepreneur should focus on:
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| Advice: if you had 2k in cash what would you start Posted: 05 May 2021 06:02 AM PDT |
| Posted: 05 May 2021 12:13 PM PDT hi fellow entrepreneurs, if posts like this are allowed, would you mind help me with my survey about nut based products? I would really appreciate. https://forms.gle/XGjYhd84SQDa4D227 I would also appreciate recomendatios on websites or other subreddits where i can post my survey. [link] [comments]  |
| What is the most important weekly activity in your business? Posted: 05 May 2021 08:22 AM PDT Every business has different activities they need to do. In my case, I spend time looking at LinkedIn Sales navigator for leads. And then actually doing work, i.e. product UX design and marketing copyediting Maybe it's too broad of a question, but I was just wondering... [link] [comments]  |
| Posted: 05 May 2021 01:43 PM PDT Hi, is there anyone that is involved in pet food niche? Selling, reselling, or even producing under their own brand? With brothers, we're currently looking for brands and suppliers to work with and try subscription models here in our country. Over time, if it proves and validates, we'd like to slowly start producing pet food under our own brand. Is there anyone who has experience in this industry and has some tips and advices? I'll appreciate anything! Thank you [link] [comments]  |
| Prototype Alibaba\General Sourcing Help Posted: 05 May 2021 01:21 PM PDT Does anyone know of any services that could help me source a prototype from Alibaba? I've sent various suppliers messages with what I am looking for but the language barrier seems to be getting in the way. I also may not be using Alibaba or other sourcing platforms in the best way possible. I am looking for a typical bathroom/food scale with some key features:
I was able to get some samples from Alibaba manufacturers that can do 1,2, & 3, but not 4. I feel like adding #4 is so close to existing scales, but I haven't been able to communicate or get someone willing to help me accomplish #4. I'm of course willing to pay some money for help & the custom prototype but I'm on some budget so I don't think I can afford to have a US-based design firm build me a prototype from scratch. I have just tried submitting an RFQ on Alibaba, and also tried posting a job on Upwork for sourcing help, but didn't get much traction there. Thanks for any guidance [link] [comments]  |
| Posted: 05 May 2021 12:34 PM PDT Recently decided to re-launch able clothing brand and I don't have much personal capital. So I was wondering what is the best lender for a forgivable sba loan. Any and all tips are welcomed Thank you. [link] [comments]  |
| What are a few ways of getting people to do/see a questionnaire? Posted: 05 May 2021 12:18 PM PDT Hello, My friend an I are exploring a few business ideas, and was hoping to get a few questionnaires out there. Our questionnaire are broad and intended to see what targeted audience would be most interested in our product. I am wondering what are a few resources you guys use to advertise your questionnaires? How do you get people to see the questionnaire? How do you get people to actually fill them out? Should we try to create posts on subreddits that would be potently interested in our product asking if they're interested in filling out this questionnaire? Thanks [link] [comments]  |
| Outside of the business itself, what are some benefits of being a business owner? Posted: 05 May 2021 12:17 PM PDT For example in my state business owners are one of the few who can get an unrestricted concealed carry permit. [link] [comments]  |
| Who uses "Agile" process management? Posted: 05 May 2021 05:58 AM PDT Anyone here running a services business (not in tech) using Agile principles for process management? I always thought Agile was mostly for developers, but it seems like it's expanding to other disciplines. I'd love to hear from other entrepreneurs running services businesses (I'm a freelance brand strategist) who've started bringing Agile principles into the way they work. I've always used a "phased" process, but learning about Agile has helped me narrow in/ get hyper specific on deliverables in scope conversations, yet leaving the overall project scope open enough that I can easily negotiate more pay if scope creep starts to happen during the project. Came across this 30 day Agile course that I thought was helpful for services-based small business owners, especially creative freelancers who don't know a ton about the "business" or "process" side of running their company. I found it to be super helpful- lots of free templates (Notion) and tips/ tech tools for automating away time consuming but necessary processes like invoicing, onboarding communication, handing scope conversations, etc. [link] [comments]  |
| Do you truly feel excited every day to work? Posted: 05 May 2021 11:18 AM PDT Every successful person will tell you "love what you do" and "be excited every morning ready to work!" On my journey of entrepreneurship, I don't feel like this, sometimes I am excited but it's not like everyday I am fired up. If this is the case, should I pivot to something else or is it natural to feel bored, unmotivated, and like shit some days ? [link] [comments]  |
| Small Budget Adverts Besides Social Media Posted: 05 May 2021 10:59 AM PDT I have noticed and believed people have been scammed/disappointed with social media advertising and they seem to be dwindling. I like to think I always try to be proactive and a step ahead, yet I think social media advertising is a step behind now and reactionary. Where do you think the next great way to get small business word out come from? "Free classes" about your business/give aways that lead clients is my guess but still curious. [link] [comments]  |
| How to come up with mission and vision statement Posted: 05 May 2021 07:04 AM PDT I have been reading others brand and companies in my market their mission and vision statements. I have no idea how to come up with mine. All i make seems so stupid. Any help? [link] [comments]  |
| Repost - How to improve conversion rates on my small business website? Posted: 05 May 2021 07:04 AM PDT Hi All, I'm about 3 months into my new small business and it's going slightly better than expected, but there's so much room for improvement, especially with my conversion rates on the website. Currently, around 0.6% of website visitors become paying customers so I'd love to get this up! If you'd spare a minute to take a look and leave a comment about how it could possibly be improved, it would be really helpful! I've been staring at this website for many many hours now and need fresh eyes to take a look. Here's the link: https://www.decorelm.com [link] [comments]  |
| Why the Hell was I so afraid in April?!? Posted: 04 May 2021 09:41 PM PDT Hey Entrepreneurs, I'd like to connect with you all to share my journey with. August 2020: I began developing an app, Shrpn. Actually, it's a PWA (Progressive Web App). In no way am I an expert so I sought out professional help along the way. My app was built using Glideapps. December 2020: The app is complete. I began sharing the App (i.e., its functionality and purpose) with family and friends. However, I realized I needed to share this with a real audience instead - my target audience, obviously. I wanted feedback. I wanted to build that relationship with my audience. Not just a quick sale and then "okay great, now on to the next one". I wanted to build that connection. January 2021: I began thinking of which social media platforms would be "perfect" to connect with people and build a community. Keyword: "perfect". We'll come back to this later. There's a reason behind everything... February 2021: I built a good relationship with a digital marketer here on Reddit. I shared my journey with him (i.e., why I decided to build the app, who I've worked with previously, my experiences with them, my strategy, & etcetera). He made me realize 1 thing, in particular, I completely overlooked! He shared my app with his network just for feedback only. And what he made me realized was I didn't have a landing page for my app. Stating his network of friends and professionals like the simplicity and idea of the app. However, a landing page would cause it to show more professionalism, encourage visitors to take action, and inform visitors of the app itself. March 2021: I took his advice, teamed up with my web designer, and had my Landing Page built. My opinion - I love it. I now make the decision to start marketing & promoting. April 2021: (Remember January 2021?) Procrastination and doubt start to kick in. I procrastinate for an entire month, or months, on marketing & promoting. I was afraid. YES - afraid to take a chance at marketing my business. Rewind to January 2021 above (Keyword: "perfect")... I was waiting for the "perfect" moment to launch, market, promote, and even display my progress. In my mind, everything had to be perfect and spot on. So a few days later - I randomly come across an article on the web "The Nirvana Fallacy: How To Overcome Perfectionism And (Finally) Take Action". You can read the article HERE if you like. In short, what I had taken from the article is perfectionism prevents action. Waiting until you have devised the perfect solution to something is merely a form of procrastination. May 1, 2021: The web article spoke to me. It made me realize if feedback is what I really wanted in order to grow my business - I must make the decision and be open enough to receive the criticism & feedback. Expecting not only positive feedback but negative as well. For me, the feedback is where adjustment and improvement start to take place. So, I decided to make the decision to hire a digital marketer to run Facebook ads. I get over the procrastination. I build up to courage to say to myself, with confidence, there's so thing as the perfect time. May 4, 2021 (Today): I've been receiving a lot of visits to my Landing Page. And it's only been 3 days. I've also received some feedback which has opened my eyes to new opportunities. And I've been creating my OWN posts for my Business Instagram Page as well. Now, I am brainstorming on more organic and creative ways to build a community and relationships with my audience, via social media. It's still early in my journey. But, I wanted to share what's been going on and the progress thus far. There will always be bumps in the road, but I'm making the choice to keep looking ahead. "If you wait for the perfect conditions, you will never get anything done" - Ecclesiastes 11:4 [link] [comments]  |
| Posted: 04 May 2021 08:35 PM PDT So I have had a SAAS idea for a few decades that I never created to any useful degree. It would however be very profitable. I recently located an Aussie company that is doing exactly what I had planned yet they are only marketing to their region. Any suggestions on how to approach them for the possibility of bringing them to the US? [link] [comments]  |
| What are the economics of releasing a TV series on Youtube? Posted: 04 May 2021 02:15 PM PDT It would essentially follow the same business model of traditional TV, with ads during the show and the publisher (in this case youtube) pocketing a part. People using adblock for youtube are a minority and not in the target demographic. Maybe there are problems with regards to the content which can't be monetized? [link] [comments]  |
| Startup, VR game dev studio, failed - advice appreciated Posted: 05 May 2021 08:00 AM PDT I founded a small game dev company in GER, that had few employees <10, and unfortunately my plans failed. I took a high risk, and now face the consequences. My team and me still want to fight. There have had been unforseeable setbacks, these setbacks stoped production. I could sincerly use your advice, I lurked here for two years now, so I am convinced you know a solution. The Story So, I was founding a company back in 2019, purpose gaming dev. There was a new federal grant, I applied, and the grant was not successful (Bank loan failed, although subsidy was ok, so subsidy opportunity gone). Unfortunately i lost a lot of time, nevertheless, i had already assembled a team, that was ready to go for an alternative high risk venture. To apply for another subsidy was no option, since the grants application would take another six months minimum, we already waited over six months for the first subsidy (to fail), my countries bereaucracy is slow, and not versatile. We decided together as a team to go full risk, to dev&write a very small VR title: we calculated the duration, I calculated the budget. I used my own private funds I had on my bank account, that was still there from the subsidy funding plans, to be used as collateral for bank loans. I tried to raise more money from a bank, no chance at all. They said, come back with full customer base and rev. Additionally they added, they do not understand much about gaming, and could not calculate the risk, still "software" is no collateral for them. So with this tiny budget, we started, and everything looked great. Until one day, unforseeable events took place, personal fate struck (no one died, all are ok again). The production was set back about three months. We increased the effort, every team member went into a small crunch, still, it was not enough. My private fund ran out. Several weeks ago I terminated all contracts, to avoid legal consequences. The employees refused to stop working, since we are ~85% finished. At the moment they work on their private funds (I will pay great compensation). Still we would need around two-three months. In my country there is no fund, no grant, nothing, to help young startups in need. I have no chance to raise any money whatsoever fast. My risk, my problem. No whining. Since my private equity ran out, I am broke as well. Normally I would just come up with a freelance contract as a project manager, to raise my personal income. But, you guessed right, Rona made it impossible. At least for me. All the top experts are cheap as chips, there are very few PM projects. I tried last six months, no success. I had developed (and produced) also two additional product strategies, since i did not want to go 100% risk on the game client only. Same thing, Rona closed the pockets of potential clients, they go with the major brands to have no risk themselves. It looks like I try to blame Rona, I dont, I blame myself. Had three products, all three failed. What Now We all knew the risk. We accept the current situation. All are still working. Still motivated. We believe in our products. We wanted to publish ourselves, are now open for alternative route. I am now looking for publishers (I have a list and contact them now), but since this is our first title, probably chances are near 0. I want to prepare parallel for other options, thus i also ask you guys. I am currently awaiting some publisher offers, they eventually want to fund. But i suspect major hooks attached to their offer, if i get the contract anyhow. We calculated the chances for crowdfunding success near 0%, since unknown company, and no major marketing budget available. I am open to moving to another country, my guys are willing to follow. I looked for other countrie's grants, i have to bring at least 25% private equity. Eventually i could borrow this cash from friends. Borrowing cash is connected with more risk for me, i would take. The Team Full Stack devs, backend devs, C# devs, 2D/3D artists, marketing, cats, open for projects. The Question Might you guys have an idea, I am open to weird stuff, how to raise funding around 60k$ for finishing a VR game, outside the following: VC, win the lottery, marry Queen Lizy. What countries do have a good (fast) grants system for startups? I found Canada is having a good game program, is it fast? Maybe a technology park fund? I would found a new company, transfer IP, finish the game in few months, start making rev in their country? Win win situation? Or do you say, no choice, take VC? Or stop gaming and reorganize? But new project needs cash upfront... [link] [comments]  |
| How to reach the most suitable early adopters for a B2B SaaS? Posted: 05 May 2021 02:33 AM PDT Tons of material out there related to this, but I will love to hear from this Community. Any real stories to share around here? Looking for advices! [link] [comments]  |
| Famous/successful entrepreneurs who became economists? Posted: 05 May 2021 06:11 AM PDT I'm interested in economists who had practical, entrepreneurial experience like Ray Dalio or Nassim Taleb. It doesn't matter if they were big or not. Their knowledge has a greater relationship to real life than most economists. Which other economists do you know that had their own businesses and/or were part of a board of directors before becoming economists? [link] [comments]  |
| Posted: 05 May 2021 04:57 AM PDT I currently have a construction company, and I have recently decided to start up a new division. However, I do not have experience with pools. Does anyone with experience have any resources that can refer? Any advice would be appreciated as well!! (market analysis had been difficult for me) [link] [comments]  |
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