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    Wantrepreneur Wednesday! - September 15, 2021 Entrepreneur

    September 15, 2021

    Wantrepreneur Wednesday! - September 15, 2021 Entrepreneur

    Wantrepreneur Wednesday! - September 15, 2021

    Posted: 15 Sep 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.

    submitted by /u/AutoModerator
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    [AMA] I have founded 3 game companies, sold 2 of them. Released games that got 1b+ downloads and made tens of millions of dollars. AMA!

    Posted: 15 Sep 2021 09:40 AM PDT

    EDIT: Hey guys, it's super late here, please feel free to post more questions - I'll get back to them tomorrow when I get the time. Thanks and I hope I was able to help some of you today :)

    Hey everyone,

    My name is Ron Rejwan (LinkedIn) - I'm 36 years old, and started programming at the age of 11 to make games.

    I released my first game for fun in 2006, and accidently stumbled upon the F2P model (long before it even had a name) and generated hundreds of thousands of dollars as a 21 year old kid.

    In 2011 I have founded my 2nd company, Jelly Button - Where we released several massive hits for mobile, including Pirate Kings, Board Kings, Monster Blasters, Merge Stories and Dice Life.

    Our most popular game Pirate Kings ushered the "Social Casino" genre, which today generates billions of dollars per year (most famous game today in the field is Coin Master).

    Combined we reached 1b+ downloads and generated tens of millions of dollars; eventually selling the company by 2017 to Playtika when we had over 100+ employees.

    This year I opened my 3rd game company and am currently closing my seed round of 6m$ to create mid-core games for mobile.

    I have done everything in the field from programming, game design, community management, hiring, live ops, moneytization, contracts, legal, M&A, data analysis, AB testing, behavioral psychology, etc etc

    AMA :)

    [EDIT]

    Some links to some of the stuff I did over the years:

    ​

    submitted by /u/Sneaky_Panda_
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    Landing Page Optimization. How improving the Lander improves lead acquisition and conversion rates. Real life example

    Posted: 15 Sep 2021 11:16 AM PDT

    I'd like to share some intermediate to advance tactics on how to generate more leads and customers by optimizing your landing page. This is based on my experience and insight on landing page and conversion rate optimization. This will be in cliffnotes format - meaning I'll try avoid long-winded blog style paragraphs and focus on bullet points for those with short attention spans.

    Specifically, we'll do a deep dive into how optimizing your hero section will improve conversion rates and lower cost per lead, regardless of the type of traffic generation method you're using (content marketing, social media, paid ads)

    Because alot of landing page optimization is visual, we'll use the well known software company, Proof. I will break down the 4 elements of their hero section, why it works, and how you can apply the same techniques.

    Screenshot of my markup:

    https://www.canva.com/design/DAEqGW8mRf0/nMJNsixsgaIkvgGc2W9HHw/view?

    This advice is applicable to ecommerce and lead generation. But because I work primarily with service-based businesses, I'm going to speak from that context. So this is applicable to lead gen in the areas of B2B,B2C, local businesses, and service providers.

    There are 4 areas of optimization for the Hero Banner

    1. The CTA
    2. The Hero Image
    3. The Social Proof
    4. The Hero Headline and Subheadline

    Let's breakdown each of these four areas below

    1 - The CTA

    CTA = Call To Action

    What is the primary CTA you want someone to take on your landing page? Fill out a form for a consult? Book a free trial? Download a lead magnet?

    In the case of Proof, they want someone to give them to try their product for free by opting in with their email address.

    Some advance tips:

    • Make the CTA button stand out with a color that isn't part of the brand's design scheme. This can improve conversion rates
    • Experiment with CTA verbiage. If you're marketing an ebook that helps with conversion rate optimization, something like "Improve my conversions" would perform better than "Download Now". In Proof's case, "Try for free" is more powerful than "submit email"
    • It's okay for the CTA to be sprinkled throughout your page. Most people seem to think you only need to do it once. I'll sprinkle the CTA 2-3 times due to scrolling behavior on mobile.
    • There are some scenarios where the CTA should not be in the header but in most of my client cases, we attempt to make space for the CTA in the header
    • Avoid asking for several pieces of data such as name and number too. The more data you ask for, the lower your conversion rate will be.

    2- Hero Image Optimization

    In the case of Proof, I love that they use a photo of a real customer.

    Too many marketers are relying on stock images as part of their hero section. I prefer to use real images of the business. If it's a local business, I may prefer a photo of the team or owner to help establish a connection. Same goes for a coach or consultant. In a B2B setting, either a photo of a real customer or graphic elements are fine.

    But please try to avoid using typical corporate stock images.

    Notice Proof pairs the headshot with the testimonial as a form of social proof. More on that below.

    In the testing I've done, we almost always see conversion lift by using real images.

    3 - Social Proof

    A lot of landing pages rarely make use of social proof. And when they do, it's rarely as perfectly executed as Proof does.

    It's used several timeson their site.

    • They state that more than 1,000 people started a free trial in the last 30 days. This is listed below the Free Trial CTA
    • They list a one sentence testimonial beneath the clients photo
    • They show the client increased leads by more than 300%. This is overlaid with the headshot.

    The brilliance is they manage to integrate social proof three times here. Most people only manage to do it once, if even.

    Some people use social proof towards the bottom of the page. A lot of businesses have a habit of copy and pasting 1-2 paragraphs of their testimonial onto the page. And they repeat this several times. Don't do that. No one reads all of that.

    Just identify the key sentences that stand out from the testimonial.

    4- Hero Headline and Sub headline

    This is arguably the biggest challenge. Probably because it relies on good copywriting skills and few DIY businesses have this skill set. Heck, even a lot of professional marketers and PPCers don't have this skill set or don't employ someone who does. So the headline and subheadline are very boring and don't stand out.

    I could probably write an entire blog entry on the art and science of headlines and subheadlines, but in an effort to be succinct, I'll list some key bullet points:

    • Headline can speak to what you do and who you do it for
    • Subheadline should speak to several benefits or results that people will gain from using your service
    • Avoid corporate jargon speak
    • Be specific in your results or who you are targeting. Avoid ambiguity when possible

    In the case of Proof, their headline reads "Boost your website conversion by 15% in under 15 minutes"

    They are speaking directly to the results you get.

    Subheadline says

    "We believe customer-obsessed marketing is the best kind of marketing. Proof makes it easy. Make your website delightfully human."

    If I had to nitpick, I think this is the weakest part of their hero section. It sounds like pseudo-corporate speak albeit very light. I personally would've gone with a sentence or two that spoke to who uses their software and why. This would help users to be able self-identify if they are part of this target audience.

    That said, this is a company that probably has a 7-figure marketing budget, so I'm going to give them the benefit of the doubt here.

    Checklist

    • Am I using power sentences from the testimonial rather
    • List social proof 2-3 times rather than once
    • Main headline is listed in large font type
    • Subheadline supports the headline by listing benefits or results of the service
    • Is the CTA obvious and positioned clearly?
    • CTA button stands out and doesn't blend in with the rest of the color scheme
    • Use a real image, if appropriate. Avoiding cliche stock photos

    In summary;

    To generate more leads, optimize your

    • CTA
    • Social proof
    • Hero headline and subheadline
    • Image

    On a final note, I do have a 25 page guide on Landing Page Optimization that I wrote for service-based businesses. I'm not sure if it's allowed to be linked here so to be on safe side, I won't unless told otherwise? But if you want it, I'm happy to send over privately if people want to request it.

    Note that it's tied to my weekly email that is focused on Lead Gen Acquisition. But you can opt out anytime.

    submitted by /u/Sachimarketing
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    [THREAD] This is a list of 15 battle-tested tools that made me richer and more effective as an early stage entrepreneur. What are some of the best tried and tested tools in your stack?

    Posted: 15 Sep 2021 08:02 AM PDT

    I'm a growth marketing freelancer that specializes in 0-1 growth. I make around $80k/y plus equity working with startups all over the country. These are some of the very best tools that I use to streamline tasks, do viral launches, automate growth workflows, and close high-paying clients.

    ​

    Collective - https://www.collective.com/

    • A massive growth hack for anyone who works as a freelancer. Collective handles all my taxes and accounting.

    Integromat - https://www.integromat.com/

    • Think Zapier on steroids. Most of my automated workflows are powered by them.

    Scribe - https://scribe-mail.com/

    • The only email signature tool you'll ever need. Great template library.

    Revops - https://www.revops.io/

    • Possibly one of the best sales ops optimization tools around.

    Copy.AI - https://www.copy.ai/

    • AI generated copy is still an early stage thing. However, i find it extremely helpful as an aid to help overcome mental blocks.

    Warmly.ai - https://www.warmly.ai/

    • I've wasted so much time looking up peoples' social profiles right before every Zoom call. Not anymore. A must have for sales and networking meetings.

    Umso - https://www.umso.com/

    • The fastest way to get a website/lander done and published. Plus, they don't charge you an arm and a leg.

    Supermetrics - https://supermetrics.com/

    • Essential tool in my stack for data reporting/viz.

    Beautiful.ai - https://www.beautiful.ai/

    • For when you need to spruce up on your pitch deck game.

    Upviral - https://upviral.com/

    • I've tried over 20 giveaway/wait list tools in the last few years (Gleam, Vyper, Viral Loops, etc.) In regards to UI, gamification, and customization, Upviral is the best of the bunch.

    Brain.fm - https://www.brain.fm

    • I get distracted easily if I don't have some sort of binaural beats or concentration music playing in the background while I work. This works wonderfully paired with my pomodoro sprints.

    Landbot - https://landbot.io/

    • The Swiss army knife of chatbot builders. Lots of great features (lead gen, quizzes, etc.).

    Ahrefs - https://ahrefs.com/

    • My go to for basically any SEO related tasks (Keyword research, competitor intelligence, etc.).

    Roam Research - https://roamresearch.com/

    • Fantastic tool for note taking.

    Aura - Aura.com

    • The undisputed champ of all things digital sec. (Identify theft protection, Financial fraud, Device protection, etc.)

    ​

    What are some of the best tried and tested tools in your stack?

    submitted by /u/Standard_Plum3418
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    12 months ago, I was unemployed. Last week my side hustle got acquired by a $500m fintech company

    Posted: 14 Sep 2021 04:44 PM PDT

    I've learned so much over the years from this subreddit.

    I thought I'd return the favour and share some of my own learnings.

    In November 2020 my best friend and I had an idea.

    "What if we could find out which stocks the Internet is talking about?"

    This formed the origins of Ticker Nerd.

    9 months later we sold Ticker Nerd to Finder (an Australian fintech company valued at around $500m).

    In this post, I am going to lay out how we got there.

    How we came up with the idea

    First off, like other posts have covered - you don't NEED a revolutionary or original idea to build a business.

    There are tonnes of "boring" businesses making over 7 figures a year e.g. law firms, marketing agencies, real estate companies etc.

    If you're looking for an exact formula to come up with a great business idea I'm sorry, but it doesn't exist.

    Finding new business opportunities is more of an art than a science.

    Although, there are ways you can make it easier to find inspiration. Below are the same resources I use for inspiration. I rarely ever come up with ideas without first searching one of the resources below for inspiration:

    • Starter Story
    • Twitter Startup Ideas
    • My First Million
    • Trends by the Hustle
    • Trends VC

    To show how you how messy, random and unpredictable it can be to find an idea - let me explain how my co-founder and I came up with the idea for Ticker Nerd:

    1. We discovered a new product on Twitter called Exploding Topics. It was a newsletter that uses a bunch of software and algorithms to find trends that are growing quickly before they hit the mainstream.
    2. I had recently listened to a podcast episode from My First Million where they spoke about Motley Fool making hundreds of millions from their investment newsletters.
    3. We asked ourselves what if we could build a SaaS platform similar to Exploding Topics but it focused on stocks?
    4. We built a quick landing page using Carrd + Gumroad that explained what our new idea will do and included a payment option to get early access for $49. We called it Exploding Stock (lol).
    5. We shared it around a bunch of Facebook groups and subreddits. We made $1,000 in pre-sales within a couple days.
    6. My co-founder and I can't code so we had to find a developer to build our idea. We interviewed a bunch of potential candidates.
    7. Meanwhile, I was trawling through Wall Street Bets and found a bunch of free tools that did roughly what we wanted to build.
    8. Instead of building another SaaS tool that did the same thing as these free tools we decided to pivot from our original idea.
    9. Our new idea = a paid newsletter that sends a weekly report that summarises 2 of the best stocks that are growing in interest on the Internet.
    10. We emailed everyone who pre-ordered access, telling them about the change and offered a full refund if they wanted.

    tl;dr:

    1. We essentially combined two existing businesses (Exploding Topics and Motley Fool) and made it way better.
    2. We validated the idea by finding out if people will actually pay money for it BEFORE we decided to build it.
    3. The idea we started out with changed over time.

    How to work out if your idea will actually make money

    It's easy to get hung up on designing the logo or choosing the perfect domain name for your new idea.

    At this stage none of that matters.

    The most important thing is working out if people will pay money for it.

    This is where validation comes in.

    We usually validate ideas using Carrd. It lets you build a simple one page site without having to code. The Ticker Nerd site was actually built using a Carrd template.

    Here's how you can do it yourself (at a high level):

    1. Create a Carrd pro account (yes it's a $49 one off payment but you'll get way more value out of it).
    2. Buy a cheap template and send it to your Carrd account. You can build your own template but this will save you a lot of time.
    3. Once the template reaches your Carrd account, duplicate it. Leave the original so it can be duplicated for other ideas.
    4. Jump onto Canva (free) and create a logo using the free logos provided.
    5. Import your logo.
    6. Add copy to the page that explains your idea. Use the AIDA formula.
    7. Sign up to Gumroad (free) and create a pre-sale campaign.
    8. Create a discounted lifetime subscription or version of the product. This will be used pre-sales.
    9. Add the copy from the site into the pre-sale campaign on Gumroad.
    10. Add a 'widget' to Carrd and connect it to Gumroad using the existing easy integration feature.
    11. Purchase a domain name.
    12. Connect it to Carrd.
    13. Test the site works.

    Share your website

    Now the site is ready you can start promoting it in various places to see how the market reacts.

    An easy method is to find relevant subreddits using Anvaka (Github tool) or Subreddit Stats.

    The Anvaka tool provides a spider map of all the connected subreddits that users are active in. The highlighted ones are most relevant.

    You can post a thread in these subreddits that offer value or can generate discussion. For example:

    • 'I'm creating a tool that can write all your copy, would anyone actually use this?'
    • 'What does everything think of using AI to get our copy written faster?'
    • 'It's time to scratch my own itch, I'm creating a tool that writes marketing copy using GPT-3. What are the biggest problems you face writing marketing copy? I'll build a solution for it'

    Reddit is pretty brutal these days so make sure the post is genuine and only drop your link in the comments or in the post if it seems natural. If people are interested they'll ask for the link.

    Another great place to post is r/entrepreuerridealong and r/business_ideas. These subreddits expect people to share their ideas and you'll likely make some sales straight off the bat. I also suggest posting in some Facebook groups (related to your idea) as well just for good measure.

    Assess the results

    If people are paying you for early access you can assume that it's worth building your idea.

    The beauty of posting your idea on Reddit or in Facebook groups is you'll quickly learn why people love/hate your idea. This can help you decide how to tweak the idea or if you should drop it and move on to the next one.

    How we got our first 100 customers (for free)

    By validating Ticker Nerd using subreddits and Facebook groups this gave us our first paying customers. But we knew this wouldn't be sustainable.

    We sat down and brainstormed every organic strategy we could use to get traction as quickly as possible.

    The winner: a Product Hunt launch.

    A successful Product Hunt launch isn't easy. You need:

    • Someone that has a solid reputation and audience to "hunt" your product (essentially an endorsement).
    • An aged Product Hunt account - you can't post any products if your account is less than a week old.
    • To be following relevant Product Hunt members - since they get notified when you launch a new product if they're following you.
    • Relationships with other builders and makers on Product Hunt that also have a solid reputation and following.

    Although, if you can pull it off you can get your idea in front of tens of thousands of people actively looking for new products.

    Over the next few weeks, I worked with my co-founder on connecting with different founders, indie hackers and entrepreneurs mainly via Twitter.
    We explained to them our plans for the Product Hunt launch and managed to get a small army of people ready to upvote our product on launch day.
    We were both nervous on the day of the launch.

    We told ourselves to have zero expectations. The worst that could happen was no one signed up and we were in the same position as we're in now.

    Luckily, within a couple of hours Ticker Nerd was on the homepage of Product Hunt and in the top 10.

    The results were instant. After 24 hours we had around 200 people enter their payment details to sign up for our free trial.

    These signups were equal to around $5,800 in monthly recurring revenue.

    --

    I hope this post was useful! Drop any questions you have below and I'll do my best to respond :)

    submitted by /u/wutangsam
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    The One Piece Of Advice That Changed My Life

    Posted: 15 Sep 2021 03:11 AM PDT

    90% of podcasters quit before episode 3.
    Of the remaining 10%, 90% quit before episode 20.

    Why?

    Because they make content for other people.
    And when other people don't see what they make, they quit. The same thing can be said for entrepreneurs, YouTubers, and even writers.

    Here's the thing:

    If you want to succeed, create for yourself, not for people.

    Have an audience of ONE. And that one is YOU.

    Your goal should be to make yourself satisfied with the quality of your work. Your goal is to build a product or share content you enjoy using, watching, or reading.

    That way, you will be able to create consistently. And when you create consistently, that's when other people will find your stuff.

    When you build a product for people, you will get bored easily because those people won't show up.

    Now imagine this happening to you day after day for several weeks or months. You will develop some sort of negative thoughts about yourself, that your business is useless and no one cares about you.

    And what's next?

    You will give up.

    These thoughts about yourself are not true. Your business is not useless, and you are worth a lot more than you think. All you need is to focus on sharing for yourself. Build a business because you love the process of running a business, not because you want people to clap.

    "But I already gave up", you may say.

    Well, this is the right time to go back with a new mindset and a new goal.

    When I first started working on my business, I wanted to build a passive income source where people will pay me a monthly fee to use my app. Well, guess what? No one even knocked on the door.

    I was on the edge of giving up. But I reminded myself that I'm building this app because I'm struggling with the problem this app is trying to solve. I built this app for myself, to help me stick to my habits.

    This simple shift in mindset helped me stay focused on my goal. And a few months later, I got my first sale.

    This mindset should be with wherever you go, and whenever you decide to do something. Whether you want to create content, build a business, become an athlete, or any other dream you want to achieve. Do it for yourself, not for people.

    submitted by /u/aminekh
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    How do I comeback from the greatest tragedy of my life? Struggling with vision, staying positive, and productivity.

    Posted: 15 Sep 2021 07:02 AM PDT

    (TW Baby Loss)

    I've been what I would consider a successful entrepreneur for about 5 years. Before that, I was trying different businesses but without much success.

    I had a traumatic life event that kicked me into a dark hole 5 years ago, but, I somehow climbed out of it and it led to start my first successful eCom brand that I'm still (somewhat) running today.

    About 4 months ago, I experienced another traumatic life event. But this one was different. It was magnitudes more traumatic than the one I experienced in 2016.

    In May of this year, I made a tough call but I decided to wind down my business as it was too crazy and demanding on my time. I was on pace for a 50K month in April.. I was pregnant at the time and I knew with my son arriving in May I couldn't sustain this. I really tried to baby proof my business but I wasn't able to outsource and improve all the systems I needed to before then...

    Unfortunately just a few days after my due date I woke up one morning and I couldn't feel him move anymore. My son was born still a few days later (I'll link the full story here if interested https://www.reddit.com/r/PregnancyAfterLoss/comments/pfvge7/pregnant_for_over_a_year_with_no_living_children/?utm_medium=android_app&utm_source=share)

    There was no reason found for why it happened. What happened to me and my son was incredibly rare. I've never felt so unlucky in my life. Finding out at the hospital through an ultrasound that he was no longer alive was the worst day of my life. I was expecting the best day and was met with the absolute worst. I've never gone from such a high to such a deep low...

    Since then, I do feel I'm on the right path forward. I'm getting better. But it's been hard to pick up where I left off with my business.

    I closed it for 3 months. It's been slow rebuilding sales through email, ads, and it's been hard believing that I can rebuild and get this business back up on its feet. It's been a really good profitable business for me, but the niche isn't something I'm super passionate about. I saw an opportunity and went for it. I know I've overlooked or not spent time in certain areas that would have made it easier to get back up and going (more time in new product development, organic traffic, brand ambassadors and influencers.. there's a lot of missed opportunities). I take full responsibility for that, sometimes I just focused too much on sales instead of building something more sustainable. Something I've struggled with in the past too is just feeling like a fraud - it's been hard to infuse myself into the brand because I don't quite fit into the niche..

    I'm an optimistic person, or at least I was. My values and beliefs that served me as an entrepreneur have been completely shattered. It's been hard working because I feel I'm in this constant state of slight negativity. Anything I work on, my head undermines it.

    Im also struggling with having a vision for my business and life that I can work towards. I've been journalling about this and in doing so ive realized it's because I have so much uncertainty in my future. The most unexpected thing happened and now I'm so uncertain about everything. It's left my questioning everything. I don't even know how much time I have here. My son's life was cut so short. So when I try to think about where I'd like to be 6 months, 1 year or 5 years from now, its just hard to have hope and feel positive about the future because I know now anything can happen in an instant and completely derail life.

    Ive been able to overcome past trauma, and somehow come out stronger. I don't even know how I survived the first part of this recent trauma of losing my baby boy. I went from setting up his nursery to picking out a casket. How is this my life? People keep saying I'm the strongest person they know. But I feel weak inside...

    I was wondering if any of you fellow entrepreneurs have any advice.. I truly hit rock bottom, I'm climbing out slowly. But, if my life and business were a video game I feel I'm at level hard. How can I compete and succeed when I just still feel so down. The odds feel against me and I know if I somehow overcome this, I will overcome the greatest challenge in my life.. it feels like I'm climbing Mount Everest right now (the slowest and hardest climb..).

    .. if you're still reading this.. thank you..

    Would love to hear any past hurdles (business or life) that you've been able to overcome and how you were able to overcome it..

    submitted by /u/ecomgal
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    I’m struggling

    Posted: 15 Sep 2021 11:18 AM PDT

    My sister started a food business this year and today it got funded. I'm raising funds for my business in a consumer goods market and despite having growth, customers and revenue, (she doesn't yet) I seem to be going nowhere. I'm very happy for her but I can't help but feel like a failure.

    Unlike her I'm not very social and don't have any network, everything I have I built from the ground up with barely any help from anyone and it seems like it's not good enough. I feel so lost and like a failure. Idk what I'm trying to achieve with this post but thank you for reading. If you have tips to share or stories of how you made it out of alive I would greatly appreciate it.

    submitted by /u/bbpaupau01
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    Do you recommend using Shopify's Buy Button?

    Posted: 15 Sep 2021 02:48 PM PDT

    I want to buid a website on Squarespace, but it doesn't have many e-commerce tools. Can I add the Shopify Buy Button? Does it work?

    submitted by /u/mercuryisnotaplanet2
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    I created a product for a niche industry - but it turns out entrepreneurs are using it more than my own targeting. Looking for advice/strategies to target entrepreneurs?

    Posted: 15 Sep 2021 02:44 PM PDT

    Hello.

    I created an energy drink powder that you mix in water for the niche e-sport and competitive gaming industry. It's intended to give you focus and concentration without the jitters and crash of other caffeine drinks. I felt that the current products in that space were either snake oil or just loaded with weird ingredients.

    ​

    With that being said, I had a few viral videos and In just 32 days I sold out my entire stock (which was only 12000 servings) which caused me to scramble to restock with my manufacture. All this buzz lead a few entrepreneurs to purchase and each one personally DM'd me and said hey this stuff is amazing and really works. One particular entrepreneur who has a decent following kept posting stories about how well it works for him which lead to a bunch of sales from other entrepreneurs, including one with 2.3m followers who then posted it on his story.

    ​

    This has opened a big opportunity for me but I am kind of at a crossroads right now.

    I am already doing well in the e-sports / gaming niche and all my social media and website is geared towards this audience... I don't want to dilute my messaging by trying to also appeal to the entrepreneur niche at the same time.

    I think my only option here is creating a separate landing page where i would direct entrepreneur customers via paid ads and use messaging that resonates with the needs of entrepreneurs. Right?

    ​

    This leads me to an important aspect I want to understand well before investing in a landing page design and entrepreneur campaign - does anyone have experience targeting entrepreneurs and how competitive is it?

    ​

    submitted by /u/dubbyco
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    How many worlds does your business live in? Or how your same product line can occupy separate spaces in separate markets simultaneously.

    Posted: 15 Sep 2021 01:52 PM PDT

    Context:

    My small business explicitly exists in two worlds. I sell handmade goth & alternative Jewelry and fashion items (and a few other things besides.) One of the worlds that I occupy is the world of selling on ETSY. While jewelry (overall as a broad category) is an oversaturated on that platform, as I focus on goth/alternative/spooky/anything with crystals my corner of etsy is merely "saturated" and I'm able to do pretty well there in comparison to if I was making more generic jewelry pieces.

    The other world my business exists in is in my local arts & crafts community. I'm blessed by the fact that I live in an area with a robust farmers market & vendor event scene, and topping it off, I'm doubly blessed by the fact that there are 4, count em 4 colleges within ten miles of each other in my middle of nowhere Podunk redneck area. This means that while there is an artificially larger local market for goth & counterculture fashion, said market is likewise under-served, as my nearest Michaels, Hot Topic, or Spencers is 60 miles off.

    In other words, while my relative market position within my niche online is "decent" my relative market position locally basically is "best in class" (not having any local competitors helps hold that title)

    What's interesting about this too, is my "best in class" position locally, does influence (indirectly) my standing on etsy. For one, etsy does allow you to log in-person sales as store sales on their platform by using the square app integration. For another, while I'm selling like mad anyways locally I'm able to make more, and bigger purchases of new inventory and tools, which accelerates my growth on etsy as I'm able to access more business funds by selling locally + on etsy, than I would if I were selling on etsy alone. This by default means my etsy shop is "Boosted" beyond what would normally be possible given my starting resources and my online etsy sales. Etsy feeds back into my position in local markets, as it's a "year round" sales venue, which helps a lot as my local farmer's market/vendor fair season is limited to the warmer months (winters are harsh here) which means my local position is likewise "Boosted" by having a year-round selling platform generating income when my primary markets are closed for the winter. The fact that etsy sales peak around Christmas (when my local markets are basically dead) again, helps with a lot of cash-flow issues.

    Another unexpected benefit of living in multiple universes simultaneously is it helps to "disaster proof" my business. When covid-19 was at it's peak, sure local sales dropped as outdoor vendor events were closed, but at the same time online sales skyrocketed to compensate. In other words, existing in multiple markets simultaneously protects me from dramatic market fluctuations, because a sudden downturn in one, is often met with a compensating upturn in another.

    The reason I bring al of this up, is while I see a lot of talk about "Niche" here on this subbreddit, I don't see a lot of talk about existing in multiple niches simultaneously.

    Truth be told, I don't even think my situation is that rare, or that extraordinary. For example I imagine that developers who make programs on various platforms will invariably exist in different market spaces on said various platforms based on any number of various market conditions.

    So, other entrepreneurs of reddit. What are the various "dimensions" that your business occupies separate market positions within simultaneously? How does occupying multiple positions in multiple (mostly separate) markets simultaneously affect your business overall? Are the interactions between the multiple simultaneous market positions good, or bad for your bottom line overall? Has existing in separate market spaces been of an overall benefit to you in the long run, or are you considering abandoning one to focus on the other?

    submitted by /u/glenlassan
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    Advice for branding launch

    Posted: 15 Sep 2021 01:35 PM PDT

    Hey guys,

    I run a music/ entertainment business that specialises in weddings and corporate events.

    We have two things happening behind the scenes right now:

    1. Our website is being built along with content for a recent massive shoot we did (audio, video, photo the whole lot) with the intention of using this on the site.

    2. We definitely know that we need to change our business name prior to the next stage of our expansion (we are wanting to go interstate after adding some new service offerings which was the purpose of the shoot).

    My question is, do I

    a. Launch the website, video content etc before the name change

    b. Wait to settle on a name and then launch everything.

    Some other info: we are very much word of mouth but I feel confident a name change won't hurt us too much, we honestly can't think of a name for the life of us haha.

    We feel eager to launch our website and new offerings ASAP so we can start booking these things as well as the fact that there are some copy cats that do very similar things to us and we want to stay ahead of the pack. I feel like it would be ideal to change the name and launch everything at the same time but we don't want to delay things when we can't think of a name.

    Also, we don't currently have a website which is why we figured it would be good to work on either way.

    Would love to hear your thoughts.

    submitted by /u/bakedbread7
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    How do I find an app developer with no developer experience

    Posted: 15 Sep 2021 01:31 PM PDT

    Hey r/Entrepreneur, I am having a bit of a conundrum while looking for a potential mobile app developer for an idea me and my business partner have.

    I come from a marketing and design background and have worked on several apps on the design side. However, when it comes to development I have absolutely no handle on the most basic of terms. My partner and I have been trying to get quotes from developers on a few freelancer platforms (Upwork and the like) to no avail as most developers seem to expect more "concrete" requirements which I have no idea what these would look like. I have an idea of features we are looking for and would more than be able to wireframe the app, but I know nothing about what integrations, databases etc. our features would need.

    One suggestion I've received is to find a technical co-founder, however as we have the capital to support this project we aren't eager to give up any equity, not to mention the horror stories I've heard of partnering with someone who can sell themselves in the first couple of meetings only to not perform when necessary. That being said, a cofounder might be just what we need to cross the barrier from creative to technical.

    I've also thought about creating a wireframe right away to hand off to a developer, however I don't know how intensive some of the features we are looking for are from a development standpoint and I want to keep this in mind while designing our minimum viable product.

    What would you all suggest? Looking forward to some insight here.

    submitted by /u/ByzantineX
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    ATTN: John Carlton, Gary Halbert, and market research fans...

    Posted: 15 Sep 2021 01:23 PM PDT

    It's obvious every marketer or newbie copywriter wants to find the hottest market or niche to sell in to make all the big bucks...

    Old school marketing legends, such as Carlton and Halbert, were strong advocates of finding a market with a pulse before doing any advertising.

    To do this, they would use something called the SRDS (standard rate and data service) to see what mailing lists were getting inquires (aka who was subscribing and buying what information products from which markets - whether it was golf, real estate, etc) - then they would become "amateur experts" on the subject by quickly getting any book they could get on the subject (John Carlton famously got 4 popular books on golf...) and skim through them and find the important sections (Carlton found great info on golf swings) and took notes on what they learned and type up a report. They then would send out direct mail pieces that advertised the written report to those people on a list they would find via the SRDS. That's how the old school direct response marketers made a ton of green.

    In today's marketing world, these the above technique is dated (even though the SRDS is still around)

    So I wanted to start a discussion on how people are finding hot markets today in the modern world.

    I've used click bank, similarweb, what runs where, SemRush to research and reverse engineer finding hot markets, but does anyone have better strategies or recommended marketers to learn from in today's world?

    I've studied Russel Brunson and DotCom Secrets btw - and I'm just looking for more recommendations!

    Is anyone still actively using the SRDS?

    submitted by /u/btv255
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    What’s a better name for a website for introverts?

    Posted: 15 Sep 2021 01:14 PM PDT

    Introvert feedback appreciated!

    View Poll

    submitted by /u/rubybrrr
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    Specialized machinery business ideas

    Posted: 15 Sep 2021 12:49 PM PDT

    Looking for business ideas that revolve around one (or a few) highly-specialized machine/s. Let's say max budget is around $50k USD or so?

    submitted by /u/osdakoga
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    What data that was shown on a map would be beneficial to you?

    Posted: 15 Sep 2021 12:22 PM PDT

    What data displayed on a map would be beneficial to you, or subscribe to and pay for?

    submitted by /u/UA2013
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    How would I convert people to users on a brand new platform?

    Posted: 15 Sep 2021 12:14 PM PDT

    I've created a multivendor platform (like eBay, where you can set up your own shops ect and sell but for a niche)

    My question is, as I'm doing this 100% on my own I'm not sure how to get even the first user.

    My target audience is actually on Reddit in a few subs so I can contact them personally via the company but what should I offer them? To get them on it, as I'm sure it would just come across as sketchy.

    Should I give them the ability to sell for free for a month or something? As I will be taking a 10% cut of every sale they make in the future

    submitted by /u/pasinc20
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    Free trials for IoT and BYOD security product

    Posted: 15 Sep 2021 12:06 PM PDT

    Hello Everyone,

    We have a patented product in MVP phase, that is about to be launched in next 2-3 weeks. We are looking to onboard users (Startups) with fee trials that would like to offer us feedback on the product.

    Product 1- is IoT security for sim based devices. Its agentless/appless and network integrated solution. We shall offer connectivity as well.

    Product 2- is BYOD use case for employees working from home on mobile devices.

    We already have one patent and are funded by a large telecom operator. If you wish to use try our product, please reach out to [sales@ijura.com](mailto:sales@ijura.com).

    submitted by /u/manassampat
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    What are some of the challenges Women face as Entrepreneurs that Men Don't?

    Posted: 15 Sep 2021 12:00 PM PDT

    We just made available Women Inventors and the 7 Percent.

    In it, we discuss the reasons that women only make up 7 Percent of Sole Inventors in the US, while they are responsible for 85 Percent of everything that is purchased...

    Celebrating #WomenInventorsDay...Women Inventors and the 7 Percent is available for a limited time on Kindle for $.99

    www.InventionStories.com/Women

    #WomenInventors

    submitted by /u/InventionStories
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    Should I buy a vending machine?

    Posted: 14 Sep 2021 10:20 PM PDT

    I've been wanting to start a side hustle for some time now. I thought about opening an e-commerce and even selling my own created product, however I feel like it's a too big step since I never owned a business before. I've been giving the opportunity of putting my own vending machine in a university. I have a few unique idea such as selling instant ramen, homemade onigiri packed properly and unique drinks from Asia and America. Should I invest in the vending machine industry or is it a dead industry? Do you guys have any other suggestion on what I should sell in my vending machine ?

    submitted by /u/PeterArcade2021
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    Attempting to create a small marketing business geared towards struggling dealerships in my area (A plethora of them) .

    Posted: 15 Sep 2021 11:36 AM PDT

    Hello fellas , through out these last couple of years I have faced many tribulations which have taught me many lessons. I am 21 years old right now and I am seeking to become financially free before the age of 21. I've found a certain niche in my area in which I am positive I could generate income from it . I recently got a job in a dealership detailing cars , moving to sales in a month or two , pretty iffy on the sales due to the fact that is 100% commission based and there are sharks who won't let me even talk to a customer . So to succeed in sales I would need to implement marketing strategies , but then I also thought "why would I work to achieve somebody else's goals" . So seeing as to on my dealerships same 1 mile radius there are about 4 other dealerships I came with the idea to target these small dealerships that seem to be struggling with generating income and propose marketing strategies to them .

    My question would be : what is a fair price to charge them ? I would be managing all social media's and promoting their vehicles on various platforms (OfferUp, Facebook , Instagram , Craigslist , CarGurus etc practically any platform that sells cars .) I was thinking about $300 per week. If they need a website or a data base I would also offer those services .

    Does this seem as feasible to you guys as it does to me ? Is my charge appropriate ? My only experience in Marketing is marketing my detailing business I had before covid , cost of marketing would milk me dry so I know it's not cheap .

    submitted by /u/052000Pw
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    New Coach Seeking Help Refining My Coaching Program!

    Posted: 15 Sep 2021 11:14 AM PDT

    HI BEAUTIFUL SOULS!

    I am hoping to find some help.

    I've decided to answer my soul's calling and enter the world of ✨Transformational Life Coaching! ✨

    I am so happy to say I am starting out pretty strong and am loving every minute of it! I have so many awesome ideas for how I want to serve others!

    So here is what I do:

    I help others transcend any depression, insecurity, or self-sabotage they may be experiencing, rise above their undesired state and circumstances, adopt a mindset of peace, clarity, and empowerment, transform themselves into who they want to be, and create a reality aligned with their highest version and soul purpose through self-mastery of the mind, body, and spirit.

    Currently, I am in the process of really refining my coaching program and am wanting to conduct interviews with those of you who may fit into the collective I am called to serve.

    If you think this is something that may be of use to you, or if you know someone who would find value in this kind of service, I would absolutely love to extend an invitation to participate in a quick interview with the intention of learning more about your own personal journey, and discovering how I may be able to best help those who are on a similar journey!

    Go ahead and comment below, send me a message, or just book here with this link --->

    https://calendly.com/goddessguidance/free-30-minute-ascension-coaching-session

    As a 'thank you' for your time, I would be happy to offer you a free 30 minute one-on-one session with me :) This session will identify what's stopping you from the transformation and life you are desiring, and set you up with a plan to achieve self-mastery!

    ***This is only for research purposes and will not be shared with anyone. So rest-assured that you can be fully open and honest with me, and are safe to express your true self.***

    Thanks so much in advance, as I really appreciate the help!🙏

    Much love to you! 🥰

    Amanda

    submitted by /u/goddessguidance711
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    Have you all heard of the Value Equation?

    Posted: 15 Sep 2021 11:09 AM PDT

    So I learned this from alex hormozi

    value = (dream outcome * perceived likelihood of achievement)/(time delay * effort & sacrifice)

    Dream outcome is your promise in your offer

    Perceived likelihood is your reputation, testimonials, guarantee

    Time Delay is how long it will take to achieve the dream outcome

    Effort and sacrifice will be all the obstacles that the prospect will need to overcome to get to dream outcome.

    How do you add value in your marketplace by manipulating these variables to create stronger offers?

    submitted by /u/com3thru
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    Separate business or roll it over into an existing one?

    Posted: 15 Sep 2021 10:18 AM PDT

    My wife owns a food truck which has become highly successful but I'm looking at funding something else for her and while I'm doing it, I'm not sure how to handle it.

    The woman who owns the concession stand at the local fairgrounds is retiring. It's a grandfathered building that you only have to pay utility costs on during events and can be open at any event at anytime even if the event holders don't want it to be open.

    Money isn't the issue. I have come up with 20% more than what she is supposed to be putting it on the market for. I got some inside information on that. But here is the delima.

    Do I incorporate her existing company and run it as a subsidiary or open a new LLC. Both have their merits and draw backs. We have decided to run the truck and the stand as separate entities with their own menus and gimmicks.

    What do you think?

    submitted by /u/spongebob_nopants
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    How to ask users for feedback?

    Posted: 15 Sep 2021 06:29 AM PDT

    So I've been running Google Ads for my marketplace and delivery app and it has been generally working ok (averaging about 3 user sign ups a day for a super niche, geography restricted service). However, these users then don't actually go through with a transaction/order on the app. I'm worried it's something to due with the UI/UX or the pricing. How should I ask them for feedback? Do I just cold email them? SL "Requesting your feedback on Cadoh"? Seems really off putting and I don't want to deter them from ordering in the future.....help!

    submitted by /u/nnnnatk2
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