Wantrepreneur Wednesday! - September 29, 2021 Entrepreneur |
- Wantrepreneur Wednesday! - September 29, 2021
- Been really poor, homeless, now I’m in college and have managed to save up 3000. I want to turn this money into more money. What would you do?
- Roast my Idea
- The Truth About Entrepreneurship
- 8 Challenges Every Small Business Struggles With (And How To Fix them)
- Should we offer a free data mined account type or keep our app paid only? Opinion needed!
- Jack of all trades?
- Part time CFO
- The power of failure
- Any Freelance/ professional DEV in here?
- Businesses that use Wordpress/wix, etc, what are some must have features and benefits of your page builder?
- From Idea to validation to learning to a working product: How the sun and a pair of shoes led to my greatest creation(yet)
- Broke college student
- What is your favourite book of all time and why?
- How to get feedback from users
- Under 1 million to start what is the most profitable business models?
- Is it normal to feel stagnant?
- Need Help with my Keyword Research.
- Pre Built Desktops Salesman
- Any tips or advice on how to start up a body care business?
- Anyone wanna exchange LinkedIns?
- Assembly of pre-purchased parts
- What is THE most important character trait an entrepreneur should have? ��
- Finding a trustworthy virtual assistant?
| Wantrepreneur Wednesday! - September 29, 2021 Posted: 29 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. [link] [comments]  |
| Posted: 29 Sep 2021 06:33 AM PDT |
| Posted: 29 Sep 2021 05:44 AM PDT Hello, I am a wannabe entrepreneur based in Europe and I recently had this idea. I would like to start a company to collect second hand clothes from people and resell it online on Depop and Vinted. My Company will take professional shooting and use AI to set the correct price so the clothes will be sold faster. [link] [comments]  |
| The Truth About Entrepreneurship Posted: 29 Sep 2021 09:15 AM PDT Here's the harsh reality. Your business is going to fail. 90% of all businesses fail. The ones that ultimately succeed are the most properly managed and have the most capital which mostly like doesn't include you. Stop listening to all these clowns bragging about how they make 100K a month and are "self-made." None of them tell the whole story of how they become successful. Hell, they don't even tell you their profit margins. There just shamelessly trying to promote their firm. Most aren't going tell you how their rich daddy gave them 50k to start a business. Your not gonna get rich from selling trash to people with your shitty dropshipping company or scamming business with your "get rich quick" digital marketing agency you got from youtube. [link] [comments]  |
| 8 Challenges Every Small Business Struggles With (And How To Fix them) Posted: 29 Sep 2021 05:34 AM PDT In this post, i'll discuss common challenges that small businesses may face, along with tactical advice on how to fix them. I hope it helps Topic we're gonna cover - 1. How to find Customers 2. How to increase brand awareness 3. How to build an email list 4. How to get qualified lead 5. How to make your customers satisfied 6. How to Hire talented people 7. Financial Planning 8. How to Scale So let's dive deeper into this 1. How to Find Customers Finding customers starts with figuring out who your ideal customer is. Spraying and praying doesn't work for anybody — you need to make sure you're spreading the word to the right people. Craft an idea of what your target customers look like, what they do, and where they spend time online by building your buyer personas. Creating very specific templates can dramatically improve your business results. Once you've built your personas, you can begin creating content that caters specifically to your target demographic and share it in the channels you know they're in, with the messages you know they care about. 2. How to Increase Brand Awareness There are many ways to spread brand awareness, but the three we'll touch on here are co-marketing, and blogging. • Co-marketing: Partnering with another brand will help you inherit some of their image and reputation and create brand evangelists outside your circle. It's a fantastic way to gain a large volume of new contacts alongside your organic marketing efforts. You can read our ebook on how to get started with co-marketing for more helpful information. • Blogging: Running a consistent, high-quality blog will also help you build brand awareness. Not only does a blog help drive traffic to your website and convert that traffic into leads, but it also enables you to establish authority in your industry and trust among your prospects. It'll also help you build an email list, which brings us to our next point... 3. How to Build an Email List Instead of buying or renting lists, build opt-in email lists. An opt-in email list is made up of subscribers who voluntarily give you their email address so you can send them emails. These customers are already interested, and interested customers are more likely to make purchases, especially with nurturing. The act of opting in necessitates website functionality that captures their email address. You can achieve this with a form builder or other conversion tool. You can also leverage social media platforms that you know your audience is already on, like Facebook or LinkedIn, and create enticing content that inspires them to sign up for your email list. The other piece of the puzzle is creating demand. As mentioned above, you can do this by creating great blog content and making it easy for people to subscribe. In turn, blogging will help you increase your online presence, build up search authority, and create evangelists from your content. You can also revive older lists that you think are mostly decayed by creating an engaging opt-in message and sending it to your old list encouraging contacts who wish to re-opt-in, and promising to remove all contacts who don't respond. Growing your email list doesn't necessarily translate into increasing your list of sales-qualified leads, which brings me to my next point... 4. How to find Qualified Leads To make the lead generation process work for your business, you need to first optimize your existing website for conversions. Your website is the most essential tool you have for turning prospects into customers. Look through your website and ask yourself: Do each of your webpages clearly guide visitors to take action, or do they leave them wondering what to do next? • Are you creating custom landing pages for every single campaign that you run? • Do you have lead generation CTAs on each of your blog posts? (Do you have a blog at all?) • Prioritize the most popular pages on your website first. Most businesses have a few specific pages that bring in most of their traffic — often the homepage, "About" page, "Contact Us" page, and maybe one or two of your most popular blog posts. This blog post will help you figure out which pages to prioritize and how to optimize them. 5. How to make your customers Satisfied It takes work to continue solving for your customer in a way that turns them into raving fans. Here are some steps to get you in the right mindset: • Understand why your customers chose you and what they need • Set concrete expectations at the start of the engagement • Deliver on those expectations (and satisfy your customers' needs) • Innovate how you can provide unexpected extras that go above and beyond • Continue to measure satisfaction and improve the customer experience • When you understand your customers' needs, expectations, and cater to their desires, it will pay off, as you will reduce customer churn and instead inspire loyalty 6. How to Hire Talented People Don't settle for good employees when you can find great ones, even if it takes longer. It's the great employees that will help your company get to the next level. Just like you create buyer personas for your customers, create candidate personas for your job candidates. Your personas should be different for each role you're hiring for but will share some underlying traits around company culture. Next, take ownership of attracting candidates to your company's brand and make them interested in learning more. This will help you build a recruiting pipeline that will give hiring the same predictability as sales. Then, turn those leads into applicants. Focusing on branding to help you attract top talent will pay off, as strong branding is associated with a 28% reduction in organizational turnover. 7. Financial Planning Every business will be different, but you'll want to use business credit wisely, cut costs where possible, and manage cash flow by staying on top of invoices and bookkeeping. Business accountants and financial advisors can help you analyze your financial situation and help you make good decisions. 8. How to Scale Unfortunately, there's no perfect answer here. What it comes down to is not obsessing over every detail but the right details. Closely monitoring product perfection, for example, might not be as important as doing so over customer service. It's better to put your fears aside and launch a product that isn't perfect because you can always update and improve it. After all, once your products are in the hands of your customers, you can learn much more quickly what's working and what isn't. I hope you learned something useful today! [link] [comments]  |
| Should we offer a free data mined account type or keep our app paid only? Opinion needed! Posted: 29 Sep 2021 12:39 PM PDT I am the founder of a tech startup called Kabinet and we are at crossroads so I would appreciate your opinion. We are an app for homeowners and real estate investors that lets you keep track of everything you do to your home, all in one place. You can save documents, photos, videos, keep notes, tally costs and have everything for your home at a moments notice. Our users save a lot of money and time by keeping a Kabinet for their home. We offer a free trial but our product is paid at $49.99 for unlimited storage in the first year then $9.99 every year after for 10 uploads (if someone chooses to have unlimited storage again then can at another $49.99). We have no ads and do not sell or mine any user data. We have discussed internally for months whether we should allow users to select at sign up whether or not they would like to create a fully free account instead with full data mining (like most tech companies). Simply put, should we offer a free data mined model to entice the people that tell us "Looks great but I don't pay for anything" and risk alienating our 2,100+ paid users or offer such a model side by side? Our core ethos is to not mine data and keep everyone's Kabinet private as that is what we like personally but there is definitely a market out there for people that don't want to pay a penny for anything, even if it is to manage the most expensive purchase of their lives. A. Keep Kabinet with no data mining at $49.99 1st year then $9.99 thereafter B. Make Kabinet fully free and sell everyones home data how we see fit (of course while honoring the privacy and accounts of our existing paid users) C. Offer both options simultaneously and allow for account type selection at sign up D. Something else Let me know what you think. Thank you! [link] [comments]  |
| Posted: 29 Sep 2021 12:34 PM PDT I've never started a business before but I've been considering it for a while. I've had a bunch of ideas but I'm super indecisive and wonder if you have to have a specific thing your business does or if you can just have a "handyman" type business that does everything from small remodels, to landscaping, to trimming trees, or whatever else people might need done. Do I need to choose one thing? [link] [comments]  |
| Posted: 29 Sep 2021 08:33 AM PDT Hello. Is there anyone here who has experience working with a part-time/fractional CFO especially at the early stage of the company or while fundraising? What was the experience like? Is it worth it? I'm in the process of raising funds from Angel investors and although someone helped me make my financial model, I realize I need help in figuring out other stuff such as valuation, projections, how much equity and how to navigate negotiations with potential investors, and how to set financial KPIs. I bootstrapped my business and just figured stuff out along the way. We closed the business at the start of lockdowns last year and officially reopened the business in January this year. My business partner left the last year and since it's just me now, i rebuilt the business and started anew and this time I want to make things right. Any insights and advise is greatly appreciated. Thanks! [link] [comments]  |
| Posted: 29 Sep 2021 08:12 AM PDT I was reading an interview with Ali Halabi, founder of multi-million dollar startup Volt Lines, and this sentence resonated in me: "I think it was a great failure because I learned a lot, even yesterday I was talking with an investor and he was like: 'one thing I like about you is that I'm getting six years of your experience for free`. Because, yeah, I learned a lot in these six years, so he's like: 'I'm basically jumping on that value'". This is just another example of when failure is a good thing – but to see failure as a positive requires a shift in mindset. As a person who really hates to fail (in whatever aspect of life), this realization really hit me. Because you can either see failure as yet another thing pushing you back or as taking another step towards your desired destination. [link] [comments]  |
| Any Freelance/ professional DEV in here? Posted: 29 Sep 2021 09:36 AM PDT Looking for someone to create an automated voice calling system Hello! Does anyone have experience with creating a system that people sign up to and then get a call at the intended time from the release of a "trigger" from myself for example Let me know thanks [link] [comments]  |
| Posted: 29 Sep 2021 09:05 AM PDT I'm a developer and as a proof of concept I built a simple page builder so you can choose your theme and have access to a collection of section and components. You can change the text easily and the styles to have control over everything. It's for a pretty specific audience but I'm getting close to a MVP, after I do some beta testing. Any advice would be great but I'm mostly interested in features you enjoy the most that are must haves and or life savers. Thanks! [link] [comments]  |
| Posted: 29 Sep 2021 08:23 AM PDT Hello r/entrepreneur. Thought I'd share my journey so far coming up with a product. Late 2020 bought a new pair of blue shoes, wore them once then washed them and put them out in the sun to dry. I forgot about them until two days later when I went back to the balcony where I left the shoes and found them really dry and the original color burned away after staying in the sun for so long. The shoes were still in good condition but the color was just off-putting. I then thought of finding someone who specializes in shoes to sort of dye them. Only problem is I didn't know anyone to do it and I had no means of finding such a person. That's when it hit me that there was probably someone around me who can fix my shoes, we just don't have a simple, straight forward way of reaching each other. The idea: From my situation above the idea was quite simple. Come up with a system that would allow anyone to post anything they need help with and allow other people around them to see the post, apply and accomplish the task together. Validation: At this point I was quite certain there was a gap to be filled here but I wanted to see if other people felt the same way. I asked a friend what he thought of an app that could let him post any job he wanted and find people around him willing to do it. His response was, "We already have Linkedin for that" to which I responded "If you urgently need someone to come clean your house in the next thirty minutes, how would you go about finding that person on Linkedin?". That's when he saw my point. I proceeded to post my idea in a couple of Whatsapp groups I was in and the majority of people thought of it as a good idea. Features of the app: From the beginning my intention for Duwit was for it to be an app where anyone can post anything they can do or want done no matter how little it may seem. To effectively do this I'd focus on:
Planning and tools for the job: The next step was to plan what I was going to create and how I was going to create it. Since I wanted to create something that's fast and can be used anywhere. A mobile app was the better option compared to a website. The only problem was I had no clue how to make either and no money to hire a developer. But that did not worry me too much, my only determination was to get this project off the ground. I started looking for the requirements needed to make a mobile app. My search was mainly focused on frameworks that can build Android and iOS apps simultaneously. After a lot of comparison and looking at different people's opinions regarding mobile app development frameworks, I settled on Flutter mainly because it's purpose is to create apps for mobile, web, pc and mac using the same code base. The next step was coming up with a design for my app and finding Flutter learning materials. I started by roughly sketching all the pages I wanted the app to have. I have some experience with photoshop so that was my desired program for designing mockups from the sketches. I went to YouTube and searched for "Photoshop mobile app design tutorials". In the course of my search, most of the results were focused on Adobe XD instead of photoshop. I later discovered Adobe XD is more suited for what I wanted compared to PS. It took me about 5 hours to create all the designs in Adobe XD and the next step was to find Flutter video tutorials for absolute beginners. Learning Process: My learning process was somewhat different from how you would usually go about learning to code. First I settled on a 20 hour flutter beginner course from Udemy. My plan was to only use what I needed for my app from the course. To do this I played the course at about 5X speed while noting down the lessons and timestamps that taught anything I thought would fit into my app based on my design. It's after going through the entire course like this that I came back focused on videos that had what I wanted. To put this into better context, my app was obviously going to be location based so my interest would be more towards a lesson about "working with google maps in Flutter" than a lesson about "creating a calculator in Flutter". With this approach I was able to come up with a working prototype way faster than I would have if I had focused on the entire course and did everything the instructor did. The first prototype: Fast forward to a lot of early mornings, youtube, google searches and three months later I had my first prototype that ticked all the boxes I wanted for the app:
You know how something you've made yourself always looks good when in actual sense it might not? That's how I felt at that time with the first prototype. It was working well but the UI was so off(I just didn't see it that way at the time). I showed it to my friends who appreciated the concept but everyone was telling me I needed to improve the UI. At that point I could say my Flutter knowledge was 4/10. There was a lot I still couldn't do and most of the time I had to google or go back to the tutorials for something in the app I wanted to change. A brief stop: While still trying to figure out how to improve my app's UI. I stumbled across a job posting that required a Flutter developer with 1 year experience(I only had 3 months learning experience XD). I went ahead and applied for it and made it clear what I could do with flutter at the time and provided a link to my prototype that was live on Google Play. One week later I was at this small company's office, with 7 other devs working on a web app. My work was to replicate the web version into a mobile version. I remember my supervisor telling me I had to use RESTful APIs to connect to their custom PHP database. I was honest with and told him I had not worked with REST APIs before. My only experience was with Firebase because that was my app's backend. He agreed to give me 2 days to learn about REST APIs then get back to work. This was way simpler than I thought and in a month and a half my part of the project was complete. I must say I spent around 40% of my time there on google looking up most of the things the project required and implementing them. I then got back to my app with new found knowledge on how to improve my UI. Challenges: Creating an app from scratch is no easy task especially if you've never done it before and you are doing it alone. But hey, who said it was going to be easy? Here are some challenges I encountered while creating my first app:
Lessons learned:
Well, that's it for my journey so far creating Duwit. The next step is finding users and pushing to iOS in the near future. If you've read this far, I am open to answering any questions you may have in the comments section. It also won't hurt you to try the app for yourself: You can also join the Duwit Subreddit to stay updated with my progress. You can also provide feedback, questions and feature requests. In my next post I will share how I created this Duwit Landing Page from scratch using Flutter. [link] [comments]  |
| Posted: 29 Sep 2021 01:26 PM PDT I'm a broke college student that has 2500 dollars. How should I invest it to start making my money work for me? [link] [comments]  |
| What is your favourite book of all time and why? Posted: 29 Sep 2021 09:24 AM PDT Hi everyone, I'd like to know what everyone's favourite business, finance, investing or mindset related book is. And why is it your favourite book? What influenced you the most? Hopefully this post can act as a library for people to find books that can help further expand their knowledge! A few of my favourites so far: Rich Dad Poor Dad Ready, Fire, Aim Cashvertising The Lean Startup Influence: The Psychology of persuasion [link] [comments]  |
| How to get feedback from users Posted: 29 Sep 2021 09:00 AM PDT I have a startup (a SaaS for nutrition professionals, B2B) and I would like to improve it, to make it perfect for my users. My biggest problem at this moment is that it's very hard for me to get that feedback. Most of the times they don't really know how to explain what they want and if I pick up the phone and call them or email them most of the times they won't respond (even the paying ones). Are you dealing with this? Do you have any advice for me? [link] [comments]  |
| Under 1 million to start what is the most profitable business models? Posted: 29 Sep 2021 12:36 PM PDT |
| Is it normal to feel stagnant? Posted: 29 Sep 2021 08:48 AM PDT Hey guys, quick question. I've been working on a platform for about 3 months now while balancing college and other life things....and I've made a good amount of progress. Yet, I feel that I am at a stagnant point. I've been reaching out to target users to get feedback on a daily basis and haven't made much progress. Is it normal to feel like you're not making progress even when you are (in really small intervals at least)? [link] [comments]  |
| Need Help with my Keyword Research. Posted: 29 Sep 2021 12:24 PM PDT Starting a business and got a couple of questions with my Google & Facebook Ads. I have a limited budget. How many keywords and ad groups should I have? Whats the best range for my keywords to target in regards to avg. monthly searches? Should I target keywords with audience of 100K to 1M, 10K to 100K, 1k to 100, or 10 to 100 [link] [comments]  |
| Posted: 29 Sep 2021 12:20 PM PDT I've recently been feeling motivated to start a side hustle and I'm looking for pointers or even a bit of direction to begin. I've built a few computers for myself friends and family teaching myself over the last few years and I want to know is it something that can be profitable in the future or as of now? I know fixing cars and getting into the food business is a good venture id like to explore aswell, but I really have been fixated on the idea to sell computers. Even selling at least 2 a month could pay my bills and give me motivation to keep going. [link] [comments]  |
| Any tips or advice on how to start up a body care business? Posted: 29 Sep 2021 12:06 PM PDT I currently reside in Texas and also want to dabble in the skin care world as well, but I know it can be costly. To also put in perspective, i'm currently enrolled in college (24) but starting my own line has always been a huge goal of mine. [link] [comments]  |
| Anyone wanna exchange LinkedIns? Posted: 29 Sep 2021 12:03 PM PDT I think this would be great for networking so if anyone wants to exchange connections, let me know! [link] [comments]  |
| Assembly of pre-purchased parts Posted: 29 Sep 2021 11:52 AM PDT Hi Everyone. I have been growing my watch customization business for the last few years and things are going well. I do customization of already existing items. I have a factory in china where I get parts, and I have suppliers here in the states that supply me with the main product. I do all of the assembly myself and I am realizing that it is not sustainable if I continue to grow much past where I am now. Does anyone have any suggestions on how/where I should go to ship the parts for assembly? It can be a delicate process, but once it's ironed out should be pretty straightforward. My concern is that the goods might be damaged, because that's fairly easy to do if you don't know what you're doing. I still mess up every once in a while. Any additional thoughts or critiques are welcome. Please let me know if you need more information. This is my first post on this sub. [link] [comments]  |
| What is THE most important character trait an entrepreneur should have? �� Posted: 28 Sep 2021 09:24 PM PDT Grit? Integrity? Thrift? Passion? If you had to pick just one, what would it be? [link] [comments]  |
| Finding a trustworthy virtual assistant? Posted: 29 Sep 2021 10:57 AM PDT I had a few questions about finding a virtual assistant to manage my books for one of my side hustles. I created a platform around the fintech industry that currently brings in 4-5k a month in profits. The actual work put into it is pretty minimal I would say I spend 10 hours a week max. I am the sole employee so I do all of the data entry manually which honestly is the most tedious part. I want to hire a virtual assistant to monitor transactions for me and do all the data entry, however the person doing the data entry would need access to my bank account and other sensitive data. Are there any good companies out there that anyones used personally? What would you pay someone to do this? [link] [comments]  |
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