NooB Monday! - August 30, 2021 Entrepreneur |
- NooB Monday! - August 30, 2021
- Building a Multimillion Dollar Business: Part 1 - Getting started (the right way)
- Talk me into quitting my job please
- After coming up with your business idea, what do you tackle next?
- App Development Process
- How do I verify businesses around the world? Like Stripe
- How do you get enterprise customers to switch from an existing solution to an alternative solution when you're doing pre-sales and smoke testing?
- Ways to make money online as a 15 year old?
- What do I need for a quote?
- Name for a business
- Starting my own Company
- Social media updates of last week You need to know
- Need some advice on a direction
- How do I make EAN 13 Barcode smaller than the minimum size?
- good books on writing copy to help with content writing and blogging?
- Manually chopping wood.
- Unisex jewelry (ring) business.
- So I launched a meme app -- Now what??
- Help with question regarding exporting and taxes
- Creating a network in a reselling type of business!
- Get free press coverage for your startup ��
- going into hookah lounge business
- Tips to let go of an old identity that no longer benefit me?
- Hey entrepreneurs, This is for you!
- Developing a Scalable Consultative Sales Team
| NooB Monday! - August 30, 2021 Posted: 30 Aug 2021 02:00 AM PDT 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]  |
| Building a Multimillion Dollar Business: Part 1 - Getting started (the right way) Posted: 30 Aug 2021 09:53 AM PDT Hello r/entrepreneur and r/startups! Hope you're all ready for part 1 of a 16+ part series. I'm going to go in depth on some of the successes, failures, and struggles that me, my partners, and our team have gone through in the past 6 years. Our SaaS company does millions of dollars in revenue per year and we're on a clear path to hit $10M+ in revenue within 18-24 months. Due to the high public SaaS multiples, we've received (but turned down) two 8-figure acquisition offers. Surprising to many, we're almost fully bootstrapped. We raised a small amount from friends and family but haven't taken on any institutional capital and don't have any immediate plans to do so. To many people, we look like a huge success story. Sure, we would agree with that, but very few people have seen what it has really taken to get to this point. We hire/fire multiple people each month, onboard hundreds of new clients each month, and are constantly iterating on our SaaS platform. Keep in mind, there was a time where everything was just an idea, we didn't have any money to invest in marketing, we didn't have employees to manage, we have lost clients that were paying us 6 figures per year, we had 2 months of cash left and had fire some people or close some big deals. It's been a grind. Over the past year or two I've mostly been a lurker on these subreddits, but that needs to change. Seeing the activity from everyone and seeing how hard people are working on their businesses continues to inspire me. I've spent hours putting together content around getting your first customers, raising money vs. bootstrapping, hiring/firing employees, focusing on your strengths, etc, etc, etc. Trust me, there are a lot of topics. ;) I'll be posting every Monday morning and plan on engaging in the comments and responding to DMs as much as I can as they come through. Enjoy! Now that the housekeeping is out of the way, let's talk about getting started… the right way. -------------------------------- I'm going to pass the boring stuff about incorporating your business, setting up an operating agreement, and deciding who does what. Step 1 is to educate yourself. You need to do market research to even come up with an idea that could work. Some people on this subreddit are further along than others, but no matter where you are, it's good to understand where money is flowing. If companies are able to raise a bunch of money, they definitely have traction and customers. Here's where you need to go: Crunchbase.com Smart investors don't give companies money unless they're in revenue. On Crunchbase, you're going to see data from VCs who are investing 10s of millions of dollars or big companies making acquisitions. If you don't want to use the paid version, go on Crunchbase every single day to see what companies are raising money and what companies are getting acquired. You should start doing this TODAY so you can look for trends. I guarantee you that almost every company on there raising $1 million, $20 million, $300 million is someone you haven't heard of. Start learning as much as you can about them (even if they aren't that interesting to you). Learn about their pricing model, how many customers they have, what their product does, their go to market strategy, etc. Want to learn even more? Google who the CEO is and listen to some of their keynotes on YouTube. It's a lot better to learn from people who are grinding every single day rather than listening to all of these internet business gurus who blow smoke about their worthless courses. Another thing you could do is research companies that are publicly traded who do things that are interesting to you. Listen to their earnings calls and try to learn as much as you can. Take a look at their financials too. It's all public and FREE. -------------------------------- Now that you're a genius and you know everything about every single company out there, let's talk about coming up with an idea and a product. It might sound generic, but hey, it needs to be said.
-------------------------------- Well, this is it for part 1. I'll do my best to answer questions in the comments. Next week I'll be posting about getting your first few customers. Something that everyone struggles with. It's hard, but it can be done! [link] [comments]  |
| Talk me into quitting my job please Posted: 30 Aug 2021 06:03 AM PDT I want to pull the trigger and quit my job to work on my business, but I just can't seem to do it. job is part time, pays well, nice colleagues etc. I worked a decade to get this unicorn position and almost about to get promoted again. but business is doing better and demands more time. I want to spend more time promoting it on social media etc I'm not worried about money, got enough to live with or without the business. But my job is one of a kind, if I leave I will likely never work in the industry again. Has anyone made a similar decision/opinions/talk me into quitting my job? [link] [comments]  |
| After coming up with your business idea, what do you tackle next? Posted: 30 Aug 2021 05:52 AM PDT Title says it all. After you establish what you plan to start a business in, what is your next step(s)? Market research? Business Plan? Conducting surveys? Execution is key, but in order to get to the final product.. what steps do you take after you finally come up with your idea. [link] [comments]  |
| Posted: 30 Aug 2021 08:25 AM PDT Hello! Currently I'm trying to develop an app, however I have no experience with coding or just in general technology isn't a strength of mine. So basically I have an idea for an app, a sister in law that could help with a basic foundation for the app, and then what would be the next step? Finding investors to develop it in full, try and sell the idea? I really have no clue what that process is, so any advice would be amazing! For reference, the app I'm working on is in the beauty field. Not sure if you'd need more info than that to help. Thanks in advance all! [link] [comments]  |
| How do I verify businesses around the world? Like Stripe Posted: 30 Aug 2021 11:25 AM PDT Hi is there a kind of an agency or company who helps you verify businesses around the world with local authorities? Stripe is also somehow verificating businesses around the world, how are they doing that, has someone an idea? Or are they using a kind of service company for that? [link] [comments]  |
| Posted: 30 Aug 2021 02:48 PM PDT How do you get enterprise customers to switch from an existing solution to an alternative solution when you're doing pre-sales and smoke testing? [link] [comments]  |
| Ways to make money online as a 15 year old? Posted: 30 Aug 2021 02:08 PM PDT Looking for ways to make money as a 15 year old preferably online [link] [comments]  |
| Posted: 30 Aug 2021 01:48 PM PDT I'm looking to start a new business that I have never done before so I have no clue what the steps are. What I'm concerned with now is, what do I need to get quotes on renovation costs? I'm going to look at a building later this week for my business and it is going to need to have the interior re-framed and wired with electrical. What do I need to send to contractors to get a quote / idea of the renovation costs? And if I needed to do some of it myself, are there good ways to find the material costs without laying every single thing out and adding them all up? [link] [comments]  |
| Posted: 30 Aug 2021 01:47 PM PDT Im trying to find a name for my business that has a fairytale concept evening gown rentals.. our slogan is derived from cinderella "magic lasts until midnight" cause they have to return the dress its to be worn on night and be their own kind of princess Any ideas? [link] [comments]  |
| Posted: 30 Aug 2021 10:00 AM PDT I want to start my own fabrication company, but how the heck do even get started? Every building is at least 500k, and that doesnt even include machines or tools. As someone who doesnt have a trust fund or a million dollars laying around, what are the steps I can take to get going on my own business? I dont think Ill be able to save 500k with my current job anytime soon, I wanna take the leap but I dont know how. [link] [comments]  |
| Social media updates of last week You need to know Posted: 30 Aug 2021 07:46 AM PDT
You are updated but not fully, catch saas tools of the week, content ideas and much more on "social juice" (my newsletter). Subscribe if you want to grab all ⬇️ [link] [comments]  |
| Need some advice on a direction Posted: 30 Aug 2021 07:35 AM PDT I'm a full-time IT manager with a family and an invention that I'm struggling to make traction on. I've managed to build a rough but working prototype over the last 6 to 8 months and I've tested it with my intended audience and so far the feedback has led me to believe that this is something that, with a bit of polish, could actually work in the market - kids have a blast with it. Now here is where I'm stuck. I know i need someone who can actually help get the design finalized and ready for production. I have some cash I could throw at a design company to help with this part. Has anyone had success with this route? Or should I attempt to find an investor at this stage and give up some equity for a chance at really bootstrapping the project in a major way? Does anyone have insight into whether or not investors would even be interested at this stage? (Working prototype with video evidence of marketability) I've reached out to design firms and got some estimates looks like I could be spending anywhere from 25k to 100k to get manufacture ready. I've also looked at inventors clubs like inventright and Edison Nation but not sure if that's the way to go here, reviews seem to be fairly mixed with a bias towards negative outcomes. Like I said, I have a full time job and a family to be there for so I don't have endless amounts of time to dedicate and as such progress has been rather slow, just looking for opinions. Thanks in advance! [link] [comments]  |
| How do I make EAN 13 Barcode smaller than the minimum size? Posted: 30 Aug 2021 08:48 AM PDT I noticed that the minimum size for EAN 13 barcode is 29.83 mm x 18.28 mm, Which is very large for a small package. However, Many smaller packages use EAN 13 and still adapt their barcode sizes less than the minimum requirements (e.g Tabasco). Is there away to do it without encountering any problem ? [link] [comments]  |
| good books on writing copy to help with content writing and blogging? Posted: 30 Aug 2021 12:22 PM PDT A while back about 5 or 6 months ago I saw a recommendation on here about a book on writing copy and I'm not sure if it was in this sub or another. I lost my notes unfortunately and haven't been able to find the post or comment or name of the book. I know this is a long shot, but any ideas on what it might have been or anyone remember the discussion? Or any new books to recommend on writing copy that would help with blogging? thanks! [link] [comments]  |
| Posted: 30 Aug 2021 08:30 AM PDT Hey, not sure if this is the spot for this but I am wondering if anyone here has ever manually chopped wood for the winter season. I live in the North East of the US and our winters can get pretty brutal. I know many people opt to buy pre-cut wood but I wonder if anyone has ever cut on the side and what they'd charge to do it. [link] [comments]  |
| Unisex jewelry (ring) business. Posted: 30 Aug 2021 02:27 AM PDT Hey guys! A little bit about the meaning of the existence of this company: Practically, this means HEAVY hitting on social media and sponsoring influencers that works with the aesthetic and vibe. Production-wise: making the product as cheap as possible, one ring design for at least a long time, and three sizes S, M, L; eventually six sized S, M, L, for girls, and same for guys. So now, the real reason I am writing in this subreddit; I just want to try to meet other people that are interested in starting out in the same industry, or people with experience from companies like this. Maybe you in some way or another want to be a part of it, maybe you have some useful critiques for me to consider or maybe you want to share some experiences. Thats what I am very interested in hearing about! :) [link] [comments]  |
| So I launched a meme app -- Now what?? Posted: 30 Aug 2021 11:37 AM PDT So I left my job some time ago to pursue my own projects. My first app, MemeStars, is something like a simplified & mobile friendly version of reddit's memeeconomy. I's just been released on iOS store. There's also a website that's glitchy AF for non mobile users. Now that it's launched, I'm not finding myself feeling crazy passionate about the idea. But I also do want to give it a fair shot. Things I'm now wondering:
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| Help with question regarding exporting and taxes Posted: 30 Aug 2021 11:19 AM PDT Hello, so I recently decided to start a business with a partner in another country, they are trustworthy and I decided to try and start a business with them to see how it goes. The business is basically as follows, they provide a Buylist of parts that they need and a price they are willing to pay, I locate the parts purchase them and provide them that part at the point they request. I am based in Florida, already have a LLC, have a sales and use tax return certificate. Recently my client is asking regarding the sales tax, he mentioned that some of his previous purchases before we started that they returned the sales tax to him as it was for Exporting. Is there something I am forgetting or is there a way to sell to him without collecting sales tax? I have reported all the previous transactions on the use tax return form and so far as I am aware I am doing everything correctly, but is that a thing to not charge sales tax to exports? [link] [comments]  |
| Creating a network in a reselling type of business! Posted: 30 Aug 2021 10:50 AM PDT Hi everyone, I don't know the name of what I'm going to do in English so I'll explain it to you briefly :). The job would be to resell sanitary goods (sanitizers, detergents, paper rolls, etc) to bars, restaurants, hotels, schools, etc) is a job that a friend of mine is doing and he is working hard and doing very well so I decided to take this path too in a different city. If you also work in this field, I hope that we can help each other (how to search for new customers, what to say once you enter a bar for example) with the idea of creating a network of people with whom to exchange ideas and sales techniques! Thank you for reading this, hoping to find someone to share knowledge lol :) (or that could give me some hints, ideas) [link] [comments]  |
| Get free press coverage for your startup �� Posted: 30 Aug 2021 09:26 AM PDT Liquidary.com enables YOU to publish your story or talk about your project. We are almost doubling our traffic every week and there seems to be no end. We at Liquidary believe startups shouldn`t pay 4/5 figure USD amounts for some press coverage. [link] [comments]  |
| going into hookah lounge business Posted: 30 Aug 2021 09:21 AM PDT I'm not sure if anyone is running a hookah lounge in this sub but doesn't hurt to ask. I am looking into partnering up in NYS in a hookah lounge. I wanted to know if anyone is running a hookah lounge could tell me what are some of the do's and don't they learned the hard way. thanks [link] [comments]  |
| Tips to let go of an old identity that no longer benefit me? Posted: 29 Aug 2021 08:29 PM PDT What have you all done to let go of old identities that no longer benefit you? I recently graduated college, and I absolutely loved the social experience and having so many friends around me all the time. I still derive a lot of my personal identity from being extremely social/partying a lot, but I know I need to let go of this chapter of my life to hit the next level. I'm able to stop (or at least greatly cut back on) partying and a lot of the negative habits that take up a lot of time, money, and energy, however, it can leave me feeling really drained when I do. I'm working on surrounding myself with other highly motivated, focused entrepreneurial people, but I'm not sure what else I could be doing to proactively work on this. I'm working on a side hustle in addition to long work hours and I know I need to make this change. The transition has been really hard and I'd love to hear all your experiences! [link] [comments]  |
| Hey entrepreneurs, This is for you! Posted: 30 Aug 2021 08:04 AM PDT From past 1.5 months, I am sharing social media updates of the week in this community. But I never made any announcement posts, that's why after receiving support from community. I am creating one! I am jaskaran, founder of social juice. The social juice is a newsletter where you will find social media updates of the week, creator economy news, content ideas, SaaS finds and free resources + much more. The newsletter includes 0 affiliate links and is free for everyone. You can join it here or wait for me to post updates here every week on Monday! I will appreciate both 🎉 [link] [comments]  |
| Developing a Scalable Consultative Sales Team Posted: 30 Aug 2021 07:28 AM PDT I started my company seven years ago. For the first 4.5 years I was honestly probably too scared of failure to sell my products/services. Then about 2.5 years ago I got over that and things have been going really well. We are about 30 employees and growing quickly. However, I am still the company's CEO and ONLY SALES PERSON. I am an excellent individual performer and I think leader, but I am not a great manager (trainer). Anyway, this all leads me to my main question. My company's services are pretty technical and the person selling the services has to not only carry themselves as a someone a CEO believes is highly knowledgable about obscure regulations, but also actually be a SME to an extent. They basically need to present themselves as a business consultant, even if their main responsibility is sales. Does anyone have advice for how to create a scalable consultative sales team? Any books you would recommend? [link] [comments]  |
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