I Joined the Great Resignation to Become an Entrepreneur Entrepreneur |
- I Joined the Great Resignation to Become an Entrepreneur
- What's The Biggest Problem in Your Life?
- I created a $3m ARR email newsletter + SaaS component by creating business framework content. If you have any email growth questions. AMA
- Exposing tiktok/dropship gurus with paid courses.
- How to find what your small business REALLY worth?
- Do you think business uniforms are important?
- What does it take to be successful ?
- New business name is used in another State (US), but not trademarked. Consequences for using it?
- 10+ Creators every entrepreneur needs to follow in 2021
- Help with getting IT Consulting clients on LinkedIn through cold outreach
- What SEO tools do you use?
- Upcoming business ideas?
- I launched my free newsletter one month ago, and I have already reached my first milestone! Here is my progress so far.
- How long did it take for you guys to find the business you want to be truly dedicated to?
- I manufacture a product that is selling well in Scandinavia but always get a robot "computer says no" when contacting retailers in other countries. Help!
- How to outreach Potential Clients as a Graphic Designer for YouTubers?
- How to promote my new blog on Reddit without breaking self promotion rules?
- Why do so many entrepreneurs still write blogs?
- Youtube !
- How do I know what to know?
- Starting a side business under an alias to keep it secret?
- Forming a us company for non resident?
- Green Business Banking
- Philosophy entrepreneur
| I Joined the Great Resignation to Become an Entrepreneur Posted: 03 Sep 2021 07:41 AM PDT I'm really excited to say that I quit my job last week and am going all-in on starting my own business. As someone who toiled with this decision for months, I'm incredibly excited to get started on my journey. In a weird way, work from home really helped with this decision. It really distilled work into it's most basic element: responsibilities. Without the distractions of in-office employment, I realized that it was diverging from what I really wanted to do, which is to build. I wrote a quick blog post about my journey and my next steps. https://medium.com/@_luigilacorte/seeking-alignment-why-i-left-bay-street-bb6ec6cb21af [link] [comments]  | ||||||||||||||
| What's The Biggest Problem in Your Life? Posted: 03 Sep 2021 04:41 AM PDT Hey folks! Today I'm seeking some problems to solve; cause an entrepreneur is always firstly a problem solver. So, please tell me what's the biggest problem in your daily life. It could regard your work, your personal life, anything! I'll eventually pick up the most solvable problem and try to do it by creating a start-up! Thank you all in advance! [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 10:13 AM PDT Hello entrepreneurs, Back in 2017 I found a glitch in LinkedIn that allowed me to drive 1.2m views to an article I used to gather about 300k emails, and since then I have been growing my business. It is a newsletter that creates business resources to help save time. In the last 4 years, I have overcome all sorts of marketing. To this day we spend VERY little on marketing, we keep our team small, our contractors well paid and overall we really enjoy what we do. I also happen to work on the software development side of things, so if you have any scale questions, vendors, etc -- I'd be happy to address that. I'll be watching this tread all day today and will answer as soon as I can. [link] [comments]  | ||||||||||||||
| Exposing tiktok/dropship gurus with paid courses. Posted: 03 Sep 2021 01:02 PM PDT Hey everyone, this post is to expose those dropship courses. Cause i'm bored and i don't think people should fall for them. So here are the courses/gurus you should avoid. This guy named Aman- He charges 360 per year to be in his dropshipping group if you can't pay your not in his group basically. His course is shit. His YT link is here. He also promotes himself on tiktok https://www.youtube.com/c/AmannMemon/featured Another kid/teen named Teen Executive. He has a tiktok, YT channel etc. Basically what he does is he promotes shit coins and acts like he buys them himself. Even though he doesn't. So he gets paid from that. He has a discord group where he'll mentor you, lol. He creates NFTS and misleads people to buy them from him. https://beacons.page/teen.executive Anton Kraly, he's a guy who sells a dropship course which is worth 25K USD. I bought it (got my refund) and it was overall a shit course. He teaches people by writing on the white board thing and it's horrible and his content is just terrible in general i don't know why he charges 25K USD truth be told i wouldn't even pay for that shit. He promotes his dropshipping stores and has students that promote antons course so they get money. Link is here. https://www.linkedin.com/in/anton-kraly/ And as you guys know, Tai Lopez. Big prick right there. So yeah feel free to add more scammers and all. [link] [comments]  | ||||||||||||||
| How to find what your small business REALLY worth? Posted: 03 Sep 2021 08:31 AM PDT Did you know that statistics show only 3 out of 10small businesses end up being sold on the open market. There are many reasons for this, but in my professional opinion the biggest reason is unrealistic value expectations from the business owner. This causes too big of a price gap between seller and potential buyers so a deal cannot be made. There are very few resources on determining how much a business is worth and many companies will offer business valuations for $5,000+ (USD). I think it's time small business owners learned how to determine the realistic value of their business. Here you go: Step 1: determine your SDE SDE stand for Seller's Discretionary Earnings, and it's one of the most important numbers to know as a business owner. SDE is the 'true income' a business creates for its owner and is found using the following formula*: • SDE = Net Income + Primary Owner's W-2 Salary and Owner's Payroll Taxes + Depreciation + Amortization + Interest Expense + Discretionary Expenses The most frequent question I get 'what is discretionary expenses?' Discretionary expenses are expenses that are not required for the business to operate but are expensed by the owner because they can for tax purposes. Examples include: Owner's Retirement Plan contributions, owner's family's cell phone plan, owner's vehicle expenses, owner's personal insurance, family employees on payroll who don't actually work in the business, one-time expenses such as remodels, and overpayment to an owner's spouse (relative to market salary for their role) if they work in the business. *Key things to keep in mind here:
Step 2: determine your SDE multiple Small businesses are usually given a multiple of 1-4 times their SDE. This is the biggest misconception. I've heard too many owners think the multiple is times total revenue or gross income. This is incorrect! Those formulas really only apply to VERY large, often publicly-traded companies and do not apply to small businesses. The following rules will help you determine a range of value for your business. If your SDE is:
Step 3: multiply the SDE time the multiple to determine a realistic range of value Let's say you found your SDE to be $300,000. Your SDE multiple would be 2-4x. On the low side, your business would be worth $600,000 ($300,000 x 2) and on the high side it could be worth $1,200,000 ($300,000 x 4). The most realistic estimate would be right in the middle at $900,000 ($300,000 x 3). Step 4: add inventory Using the example above, let's say the business has inventory that cost $50,000. The total value for this business is around $950,000 ($900,000 + $50,000) Example: Here's real life example for a business we recently worked with Step 1: determine SDE
Step 2: determine the SDE multiple This business is in an industry where the multiple is 2-3x and this business has many traits buyers find attractive (strong client base, passive ownership, strong management team in place) so the multiple we'd use is 3. Step 3: multiply the SDE times the multiple $400,000 x 3 = $1,200,000 Step 4: add inventory This business has $75,000 worth of inventory so: Business value = $1,200,000 + $75,000 = $1,275,000 TLDR: Business owners understanding of their business's value is very important but usually incorrect. In most situations, the formula for determining the value of your small business is the following: (Seller's Discretionary Earnings * SDE Multiple) + Inventory (at cost) [link] [comments]  | ||||||||||||||
| Do you think business uniforms are important? Posted: 03 Sep 2021 05:13 AM PDT I wear a uniform for my business but I'm interested to hear if you do for yours. If you do, why you do, and if you don't, why you don't! Thanks in advance :) [link] [comments]  | ||||||||||||||
| What does it take to be successful ? Posted: 03 Sep 2021 09:43 AM PDT What does it take to scale a service business, 1 week ago I started a service business and I've made over 1 grand fast so I see the potential. I want to scale, not to fast but not to slow(like 6-8 months) . I'm very ambitious, what does it take to be very successful with a service business. I'm 22, no credit, so I can't get a loan to get trucks or an office space. But I want to commit to making it completely remote to reduce overhead so if you have any tips/advice for that also please let me know. Should I try an investor or what, please help. [link] [comments]  | ||||||||||||||
| New business name is used in another State (US), but not trademarked. Consequences for using it? Posted: 03 Sep 2021 10:15 AM PDT I am creating a new business and brainstormed the perfect name. Research on Google shows but one business in the same industry who operates five States away. Immediately I looked up the trademark database (USPTO) and dug through all relevant filings, but none are filed for this name in this industry. Question: Am I safe to file this business name with my State? On an ethical level, is it better to leave the name alone? It is a perfect fit for the business I am creating. And, lastly, I ask of you who are wise in business: Is it worth my energy to claim a name that may bring me future problems? I believe all good business names are taken and that a struggle of this sort is inevitable; its a name I want to fight for. Am I foolish--is my time better spent brainstorming a new name? [link] [comments]  | ||||||||||||||
| 10+ Creators every entrepreneur needs to follow in 2021 Posted: 03 Sep 2021 06:22 AM PDT I consume content a lot from these creators and learning something new everyday. That's why I thought it's time to spread the word!
Thinking of doing part-2 on Monday. Set a remind me or follow me on Instagram for more value! [link] [comments]  | ||||||||||||||
| Help with getting IT Consulting clients on LinkedIn through cold outreach Posted: 03 Sep 2021 09:49 AM PDT About 2-3 months ago I made about here titled something along the lines of "What I learned as a 15-year-old making X amount per month". I talked in that post about I was going to stop video editing and move onto IT Consulting because I would enjoy it a lot more. I have since started that business and I have been enjoying it but I need a bit of help with getting clients on LinkedIn. I have been doing cold outreach as well as writing content every day to try and get my first client for about a month now. I've been getting very few responses and I think this is because of my messages. Of the people that I have gotten a response to, they have really liked the service but prefer to manage their tech on their own or have no problems. I have no idea how to go about writing new messages that will sell the service and start booking meetings. Because I have just started and I'm 15, I have no idea where to start or how much I would be expecting to pay if I hired someone to do it for me. Does anyone have any ideas? [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 07:31 AM PDT Hi everyone! Since e-insurance in Greece is a quite competitive market, I am searching for ways to improve the SEO of my website. I got some offers from greek marketing agencies to help with my website's SEO, but it seems like a risky investment of 500$/month, for a year. Interested to hear your thoughts and what tools one can use to improve the SEO on his own. [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 07:23 AM PDT There's been dropshipping, podcasts, digital marketing, subscription boxes, online tutoring, etc. What do you think will be the next big thing? [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 06:11 AM PDT TL;DR: I started writing a free newsletter one month ago where I share business ideas and problems to solve, based on market research. So far, I have published 5 issues and reached almost 400 subs! What happened?
Where do I stand today?
What did I learn?
Where do I go?
I'm happy to hear what y'all think about the journey so far. If you liked this post, consider subscribing to my newsletter about business ideas. Also, have a great weekend! [link] [comments]  | ||||||||||||||
| How long did it take for you guys to find the business you want to be truly dedicated to? Posted: 03 Sep 2021 04:32 AM PDT I've been an entrepreneur for about 4-5 years now. Currently, I'm 20 yrs old. I own and operate an on-site window screen repair business that I've had for 2 years now. It's a nice self-employment job right now and I love it, but it's just that- "a nice self-employment job right now". I've started this business with the intention of it being a learning experience and a "self-employment" job and I would use the money I make from this to start something else in the future. How my business is set up right now has no scale potential due to job variables, logistics, finances, and seasonal-based work. I want a business where I can truly throw myself into it and say I'm 100% devoted to it. How long did it take for you guys to find the business you can say you're truly dedicated to? [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 10:49 AM PDT Like the title says, I started a business based in Iceland a few years ago. It is still just small but always growing and we have our products in stores mostly in Scandinavia. Just to give you an idea of the market size, it's in almost every pharmacy in Iceland, mobility equipment stores, all maternity stores, bed stores, and some physiotherapists have it for sale as well. Just so you know that it actually has potential. But Iceland is a tiny market so the business is still small. So far all our wholesale deals around the world have just come organically, I have no idea how but they've contacted us first but it's not going very fast and is very random. For the past few months we've also been trying to reach similar retailers in Europe, the US, Australia, etc, so pharmacies, etc, but even if we're really, really persistent, we can't get past the guard dogs, so to speak :) So we never reach the person who'd actually look at the product and decide if it's a good fit for their business. So, how do I go about this? Do we keep trying or are there better ways? How would we, for instance, go about finding a company that would import, market, and distribute the product in their country? I guess that's a better way than for us to be inventing the wheel and trying to build connections when we're so small. [link] [comments]  | ||||||||||||||
| How to outreach Potential Clients as a Graphic Designer for YouTubers? Posted: 03 Sep 2021 10:30 AM PDT I know this is probably super niche but I've read some posts here that to get the real advice you should give specific details on what you do etc. so I am trying to do that with this post. I've been a "thumbnail creator" for YouTubers for about 6 months now and still struggle with the core concept of getting this first response. By now I've mainly tried getting their email from their "About-Page" on YouTube itself and outreaching offering my services. As I already expected there were very very few responses. My past outreach headline was "Grow your CTR with good YouTube Thumbnails" and I also send a link of my Portfolio (Link) and while probably every marketer on here will now feel pain after this headline I really don't know how to do it better. So how should I approach this? Any ideas how you might write it? Other than that more importantly really is should I even do email Outreach? I feel like commenting under their videos would be probably even a worse idea. I really appreciate every single comment and will be sure to respond asap :) [link] [comments]  | ||||||||||||||
| How to promote my new blog on Reddit without breaking self promotion rules? Posted: 03 Sep 2021 08:01 AM PDT I'm starting a new blog aimed at helping small businesses with their websites and digital marketing. I was thinking just posting the material as a post on Reddit but that wouldn't help it get traffic but at the same time I can't just plug it. I was also thinking doing a discount through the blog for Thursday's, I'm not sure. Any advice on how to go about making posts on Reddit that can help my blog advertise without breaking any rules? Thanks! [link] [comments]  | ||||||||||||||
| Why do so many entrepreneurs still write blogs? Posted: 03 Sep 2021 01:51 PM PDT I work for a content marketing agency thebeacons.org and we come across so many founders, business owners, and entrepreneurs that only write blogs in 2021 as a content marketing form? Blogging is a dying industry... why do so many only produce blogs as a content form? [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 07:47 AM PDT I have somewhat experience in YouTube and I can create channels with different ideas, I did not have enough time before due to school, but I am now free and I want to know that if 1 year is enough to make me depend on YouTube as a main income if I work enough ? Thanks in advance ! [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 01:37 PM PDT I am currently 16 and I want to be an entrepreneur but I know nothing right now, where can I start? How can I know about the structures, legalities etc. ? How do I know what to know? Some help would be ,Some help would be much appreciated [link] [comments]  | ||||||||||||||
| Starting a side business under an alias to keep it secret? Posted: 03 Sep 2021 01:36 PM PDT I currently do freelance engineering on the side. I do the same kind of work for my day job. They really don't conflict with each other, but it could be taken the wrong way if my day job business owners were to perceive it incorrectly. As long as I am quiet its ok. But quiet is hard especially if I am trying to get more business. My side business is currently just under my name. Im wondering if I should change the name so that I can create an website/Instagram account and be able to advertise. CustomEngineering.com for example. Something that doesn't connect to me. Sounds like it might work, but it still makes me nervous. The goal is to eventually go off on my own, but I'm a few years away from that. What do you think? [link] [comments]  | ||||||||||||||
| Forming a us company for non resident? Posted: 03 Sep 2021 01:19 PM PDT Hi what the easiest way to form a Us company for non residents? [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 12:37 PM PDT Hey all, Have any of you had success in finding a bank that aligns with your companies values in terms of divesting from fossil fuels? I am the co-founder of a small company and we've been using US Bank as an LLC, but are switching to a c-corp structure to better accommodate interested investors. We want to use this opportunity to find a bank that better suits us, but I have found very limited options in my research. We're incorporated in Wyoming, so Beneficial State Bank and Amalgamated don't work. Would love to hear what others have done! [link] [comments]  | ||||||||||||||
| Posted: 03 Sep 2021 12:33 PM PDT I am a philosophy enthusiast and I spend time reading. So how can I apply the philosophical system of thinking to business? Also, what would you need a good philosopher (or thinker) for in your business or any problem you wish to solve? [link] [comments]  |
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