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    Monday, November 29, 2021

    NooB Monday! - November 29, 2021 Entrepreneur

    NooB Monday! - November 29, 2021 Entrepreneur


    NooB Monday! - November 29, 2021

    Posted: 29 Nov 2021 02:00 AM PST

    If you don't have enough comment karma to create your own new posts, you can post your new questions here. You can also answer/add comments to anyone else's posts in the subreddit.

    Everyone starts somewhere and to post in /r/Entrepreneur this is the best place. Subscribers please understand these are new posters and not familiar with our sub. Newcomers welcome! Be sure to vote on things that help you. Search the sub a bit before you post. The answers may already be here.

    Since this thread can fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

    submitted by /u/AutoModerator
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    You are the sum of the 5 people closest to you

    Posted: 28 Nov 2021 11:25 AM PST

    Munching through self development books and videos and courses and they all lead back to the title.

    I'm sure you've heard it 1000 times, so have I. This is the one thing I really didn't get right. I've googled and searched and scouted everywhere for a group where I could find success minded people, or at least someone who matches my ambition. I've tried asking my friends, family, relatives, and now I've come to ask strangers on reddit.

    Wouldn't you guys like to have a discord server where we could bounce off business ideas? Keep accountable or motivate each other or some sort? I know I'd love to connect with some like minded people like you all and I'm sure we can share our knowledge.

    Blame me if you want or if this sounds stupid/inappropriate, but I said I'd give it a shot, who knows?

    In any case, I'm a dev looking to start my own business next year, and also I'm up to expand my network. If this sounds cool with you, I'll send you an invite over discord!

    EDIT: If you want to join, please send me a PM, I'm unable to send PM's anymore :(

    submitted by /u/Owysh
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    Listen to your employees.

    Posted: 29 Nov 2021 02:19 AM PST

    Recognize that a large income and a prestigious position do not imply that you are an expert on everything.

    Even the janitor can come up with a million-dollar idea now and again.

    You never know what you'll discover if you just ask and listen.

    When an owner/operator/manager begins to think and act as though they work for their people rather than the other way around, things will start to fall into place.

    It's absurd to believe that those jobs wouldn't involve the individuals who work on the ground, engaging with products, customers, or both.

    You labor for the benefit of your coworkers.

    When you begin to think in this manner, magic happens!

    submitted by /u/silly_mirth
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    Need a website? We'll make it for free!

    Posted: 29 Nov 2021 02:14 AM PST

    Hello! We're a business from Belgium, designing and maintaining websites for (local) businesses. As we're looking for new clients to expand our portfolio, we're looking for businesses in need of a website which we can design for free! Only cost would be licensing cost in case we use any third-party software (of course we'll discuss this upfront and we'll provide proof of the cost!) and for us to showcase your site as our client :)

    If you're in need of a website/webshop for your business, whatever the size may be (landing pages, multi-paged websites, single page web applications, ecommerce, etc), don't hesitate to let me know. We'd love to work with non-profits!

    If you'd like to discuss your project or would like to see our website link, send me a DM!

    submitted by /u/nexiononline
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    Business Plans

    Posted: 28 Nov 2021 11:58 PM PST

    I love writing business plans and was looking at getting back into now that my life has settled down after having three kids all back to back. I've written multiple business plans and really enjoy learning about different businesses. I'm also proficient in PowerPoint and have done so for many of my clients. I'm a very detail-oriented person, I'm professional, love communication, and have excellent time management skills. I'm currentlv serving in the military and am going to school for Emergency and Disaster Management.

    If you'd be interested in a business plan, please feel free to reach out to me with any questions. I also don't agree with charging high prices like many other more established businesses do. I believe having a solid business plan is very important, but also know how hard it is to start a business financiallv.

    submitted by /u/Busy-Revolution2628
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    Suggesting a feature/product to an existing company? (But getting paid for it).

    Posted: 29 Nov 2021 01:42 AM PST

    TL;DR. Is there a way to "suggest a feature" to a company (In this case a software developer), and have them pay you for it? (Either as a consultant, and/or a fee for the "idea"?).

    How would I approach this? (From the pitch, to valuing "what is appropriate" for compensation?).

    And how do I make sure I am compensated, and they don't just say "we would if we could" or "That's on the roadmap" and then introduce it in 5 years?

    ----

    Just before I get too deep into this, yes.. I just have a few "ideas" at this point. BUT, they are very strong, well thought out ideas. I have planned exactly how they should function and why they would be game changing (Especially in combination with each other). But as a power user of this software, I could project manage the hell out of these (and the many other ideas that come to me daily). So I'm not planning to just tell them to "build an impossible feature" and then leave all the details up to them. I know how it should be done. I just won't be coding it any time soon.

    I'm not looking to build it and "compete", or be aquired for my tech, or as a plugin. And even if I was, most of this should REALLY be core functionality, so I'm sure some of it will be added eventually, which would either kill my venture or force me to innovate, when all I was wanting was better software, and a fair price for my efforts.

    They do have a "Suggest a feature" email/forum, but they almost seem unmonitored, and IF we see them, they turn up years later. Even if I was going to suggest these features for free, I'd want to know I had their attention before I made the effort.

    So... whilst I just hope they read my mind and do all this with or without me (It's sorely needed), if it comes from my mouth... I think I should get paid.

    My questions are:
    1. Especially with them already "asking for ideas" publicly (but then not really seeming to listen) how do I get my ideas in front of them, and have them cut me a fair cheque?

    1. Is there an accepted standard place to start when negotiating for something like this? (% of sales? One time payment? etc. )

    2. If I pitch the idea, and they like it but don't want to pay, what's stopping them from just doing it anyway? (And saying something like "Obviously that was part of the plan all along".)

    3. Side question: In the past I've also had app ideas that in reality would perhaps have been a great feature to add to someones existing app with a huge user base rather than trying to build my own around this one thing. So with things like this, what would you do?

    Stop me here if I'm just dreaming and have no ability to try and get these ideas in front of them and asking for payment, (even though I think they'd have a lot to gain if they did).

    Otherwise, read on for more context...

    One idea I have is so damn obvious that it makes me angry I have ti suggest it. And it's not complicated at all. I feel like it could be added in an afternoon. But the marketing tagline for the next version of "27% extra x" would move copies.

    Also, the tech for one of the features I am putting forward has existed exists elsewhere for around a decade (so could be acquired, modified, licensed, etc), and it should have been a CORE feature of this $400 software for years by now. But it's not found in any software that needs it, (with the exception of a stand alone product I just discovered which is about to get a "free trial download" from me, and if it does what I hope, an almost guaranteed $25 a month and a lot of referrals. (And STILL I think my implementation is far superior, and would gain/retain users if it was added).

    So I genuinely believe that if they implemented my ideas, they would gain marketshare, and could even raise their prices and fund expansion and innovation.

    And if they won't pay, that's ok. But my ideas don't only apply to them. I feel "loyal", and want "my" software to be the best, but... if someone does take a meeting and wants to offer me something of value... I'd be listening...

    So, what do I want?
    - Fair payment for the "great idea" and the project management I assume they'd want me to do.

    But I don't know what it's worth, or where to start negotiations? If they offered me $50K up front, but I had to consult or that price too, that's just a low paid job. So I don't want to sell myself short if it's worth $1M, or if I could be getting "25c per copy/10c per subscription, per feature for life".
    In addition:
    - I'm not really after a "job" because I like what I do now. But if they offered one, it would need to be pretty impressive, and kind of impossible to refuse.
    - I'm also willing to consult (But that seems like a "less secure job without the benefits"), and I also think that should be accompanied by a fair payment for the idea.

    So... any advice would be really appreciated.. :)
    If you read this far, I'm hoping it's because you think I could be on to something here. But if you are going to say that I don't have anything until I build it ask them to buy it, I hear you. Just say it kindly. :)

    submitted by /u/BenFromPerth23
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    Entrepreneurs who started their manufacturing components/spare parts business, how did you get started?

    Posted: 28 Nov 2021 09:27 AM PST

    Say for example, refractories. The products seem to be of a very specific niche. How did you get started in that sort of a field? Was there any previous experience or other factors involved?

    submitted by /u/Rawul58
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    Anyone here in the Real Estate Apprisal Business?

    Posted: 28 Nov 2021 11:15 PM PST

    I'm not in the US but I'm looking for someone who is in the US & has experience in the real estate appraisal business. I have some questions that I'm looking to clear up plus a business opportunity maybe.

    Just so we're clear I'm not looking for any investment or anything else. Just your time & expertise. If you are someone who is open to a potential business partnership please let me know.

    Edit - A spelling mistake in the title. Can't change it now. Its Appraisal.

    submitted by /u/InitiativeRound703
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    How to get my wife on "board"?

    Posted: 29 Nov 2021 05:12 AM PST

    My wife does some amazing Charcuterie boards (the setup, not the actual board). Whenever we go to parties, most of our friends and family ask us to bring one, and it's always a centerpiece. She has a real talent for it and I have been trying to get here to look into starting a small charcuterie board catering business.

    I discussed it with her and she doesn't seem very excited to do it... more like it goes in one ear and out the other kind of situation. when I asked about it last night, her answer was "why don't we tell someone else so they do it and I just work for them?"

    My question is: How do I get my wife excited or interested in a side business? or is it a situation like quitting a bad habit? if you don't want to change nothing will make you?

    submitted by /u/Likalarapuz
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    the marketing tool "Leadfeeder"

    Posted: 29 Nov 2021 01:11 AM PST

    Leadfeeder helps us determine how our content resonates with top accounts and new companies we want to develop relationships with. It validates that our audience and industry targeting is working, and where we could invest more effort. It's a very handy tool to have in your marketing toolset

    I was looking at what other tools are out there but found them too expensive for what we got out of them, which is why we opted for Leadfeeder. The value and what it delivers is far better than what we've tried.

    I would definitely recommend Leadfeeder. Its simplicity is the stand-out feature.

    My role is to generate leads that fill up our sales funnel—or the top of the marketing funnel. Leadfeeder helps us do that.

    submitted by /u/belqassim
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    I live in the UK. I’m developing a product for bath time. I’m using something which is meant for a different application - who can I talk to, to make sure I can?

    Posted: 29 Nov 2021 04:48 AM PST

    I didn't know if I have to talk to my local council, or the process of flushing out my concerns, and any questions I have. The type of insurance I would need. Any advise or help would be greatly appreciated, thanks.

    submitted by /u/KlayKash
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    Business Models

    Posted: 29 Nov 2021 04:47 AM PST

    Hey guys, I hope you´re having a nice start to the week!

    My team and I are building a new resource on business models and have secured an expert to interview on the topic.

    I wanted to ask you what were your doubts, questions and problems you faced when you set out to create your first business model as an entrepreneur?

    Also, what would you have like to have seen in a resource on business models when you first started out?

    I´m asking this so I can create a resource as valuable as possible. Feel free to send me a dm.

    Thanks for your time on this :)

    submitted by /u/MiguelSFelix
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    Best investment you have made so far in your business?

    Posted: 28 Nov 2021 05:03 AM PST

    Please expand on how it helped you grow - becoming more profitable.

    Give more insight of your business as well.

    submitted by /u/CupOk3383
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    Searching for private loan. Urgently

    Posted: 29 Nov 2021 03:17 AM PST

    It's urgent since Black Friday is active until December 1, I want to purchase a lot of lifetime licenses for site development products + powerful servers for four years to have enough resources for future projects for less money.

    I know a lot of really good deals for valuable products but don't have enough money to grab the deal in time.

    This saves up to 50% on each product, as well as up to 5000% if you compare the annual payment for each site separately and a lifetime license.

    If you are in deal - you will get access to all purchased licenses, a discount on my WP services (purchase and configuration of the domain / hosting + design + development), and your money with the promised profit after the specified period (maybe earlier).

    How I will pay you back? I want to create affiliate media about WordPress, an electronic product sales service and a marketplace for home-grown food and handmade goods.

    Who is interested in giving a private loan at +10% per year for three years (+33%), or at +15% per year for five years (+101%)?

    submitted by /u/flakkandi
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    I've experimented with digital products for a decade. Here's what worked, what didn't, and what I learned.

    Posted: 28 Nov 2021 04:21 AM PST

    I've been creating and selling online since 2011.

    Now that this type of workstyle has been dubbed the Creator Economy, I thought it would be fun to look back at how much I earned from each project and what I learned.

    This post includes details on my:

    ✔️ Ebooks
    ✔️ Courses
    ✔️ Newsletters

    Including successes and failures.

    And what's the same vs. different in today's Creator Economy 👇

    ***

    2011 (I was 30)

    ⭐ Launched my first ebook, How to Build a Part-Time Social Media Business

    It sold for $24.

    Lifetime earnings: $33,316

    What I learned: This way of making a living is fun and lucrative.

    ***

    2011

    ⭐ Ebook 2: How to Take a Career Break to Travel, sold for $29.

    I left my job to travel Africa & wanted to help others take a similar adventure.

    But... the ebook flopped.

    Lifetime earnings: $1,124

    What I learned: Topic was too niche to sell big.

    ***

    2012

    ⭐ My first paid newsletter, Solopreneur Secrets. $5/mo.

    Didn't earn much.

    What I learned: I was stretched too thin to give this enough attention. But I fell in love with the paid newsletter concept.

    ***

    2012

    ⭐ Ebook 3: How to Create a Social Media Strategy

    I experimented with a higher price point, $59. It worked.

    Lifetime earnings: $59,320

    What I learned: People will pay for resources that help them make money.

    And creating an upsell funnel WORKS.

    My two social media ebooks complemented each other. People bought the $24 one, then returned for the other. Or they'd buy both at the same time as a package, at a discounted rate.

    Lifetime earnings for the package was in the 10s of thousands. I wish I had exact numbers for the package because it's probably the most powerful lesson in this post.

    ***

    2012

    ⭐ My first course, How to Become a Twitter Power User.

    It was a simple email autoresponder series, one tip each day.

    Sold for $99.

    I didn't earn much (don't have exact numbers). Still, people on Twitter still remind me they took the course back in the day!

    What I learned: I had fun putting this one together, but I never created an engine for evergreen sales. Without that, you have to keep promoting to continue to sell.

    ***

    2014

    ⭐ Ebook 4: Turn Your Side Hustle Into a Full-Time Business

    Sold for $47.

    Lifetime earnings: $6,339

    What I learned: I think this could've done better if I'd reframed it with a better title. Title is everything.

    ***

    2014

    ⭐ First bundle of other creators' products, sold on The Write Life, a website for writers (I no longer own this site, sold it in early 2021)

    Price: $79.

    3-day earnings: $34,000

    What we learned: People loved this concept and would pay more. We increased price to $99 the next year and doubled our revenue. (This reporter wrote a good piece on how we did it.)

    ***

    2020

    ⭐ Ebook 5: The Money Guide for Freelance Writers

    Co-authored with my accountant dad.

    Earnings so far: $6,125

    While I haven't marketed it much, this is the only ebook I still offer for sale.

    What I learned: I wrote this as a passion project; I don't want it to be the topic I'm known for, and I knew I wouldn't put a lot of effort into promotion once it was published. But it was a lot of work for a passion project! Since I don't really promote it, most sales (we get a few a month now) come through a few affiliates we got on board at launch.

    ***

    What's different about selling "info products" now vs. then?

    💡 Communities are essential. Back then you could get away without them

    💡 The space is more crowded. It's harder to sell

    💡 More, better creator tools to choose from; you don't have to MacGyver solutions

    But overall, so much is the same.

    💡 It's possible to package your knowledge into a product others want

    💡 Margins are huge, because the only real costs are your time + tools

    💡 Experimenting is key to success

    ***

    I'm using my learnings as I launch my next company, They Got Acquired.

    Our mission is to redefine startup success by featuring acquisitions of online businesses between $100K-$50M, deals that are too small to be covered in mainstream tech publications but can be life-changing for founders.

    While I don't envision us selling ebooks or courses (at least not our own; we might sell resources created by others), we will package information and sell that information in a way that's useful to entrepreneurs.

    For now, it's all free. Add your email at TheyGotAcquired.com to be notified when we launch in January.

    GOT QUESTIONS? I'll answer them in the comments.

    submitted by /u/LexiGrant00
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    When I was younger, caring about what others think of was painful...until I realized it's part of being young and inexperienced. I also found that the earlier I can let go of others validating me, the faster I can begin to live my real life and self, and be truly happy living.

    Posted: 28 Nov 2021 09:06 PM PST

    TLDR: Don't waste time thinking about what others are thinking about you. Ironically, very, very little people are thinking about you - they're preoccupied thinking what others are thinking of them or other people's intentions...which is a waste of time.

    This can be applied to personal and professional relationships.

    When I was younger, other people's negative and hurtful comments and comparisons were bloody brutal (I wrote on negative comparisons here in reddit: https://www.reddit.com/r/Entrepreneur/comments/r459wb/i_grew_up_with_lots_of_well_and_badmeaning_adults/)

    It seems especially harder when I grew up fat, quiet, shy, awkward and definitely very, very insecure. After all, then, we don't talk about feelings, emotions and what we think.

    I was taught that it was important how others thought about me, both good and bad, and that I was to "get" more good comments than bad...but funnily enough, I get more bad comments and comparisons than good ones.

    Really, really fucking painful.

    Even though they can be blatantly wrong, but because they're shouting / louder / have more money / older / more popular, they seem to "be right"...when they're totally wrong.

    One of my favorite examples was a person who said a contract they signed is void because they DIDN'T read it...this person was quickly let go. LOL I cringed again thinking about this.

    That's when the realization #1 came to me: these people may not be aware or not know that they're wrong...they only want to hear what they want to hear, and sometimes truths ain't pretty.

    My Lord, that changed the perspective entirely...fuuuuuuuuuuuuck!

    Instead of reacting to their reaction and then they react to my reaction on an infinite cycle, i rather just stop the broken loop there. No point getting caught up in that.

    Just this realization itself has improved my happiness score by a lot LOL - i think not wasting my emotions on things that aren't important just gives me more bandwidth to enjoy business, relationships, off time etc - brilliant ehehehe

    Here's a video with more practical advice and examples of good / useful realizations if you enjoyed this

    About me: I'm an average entrepreneur, dad and husband who is fascinated with marketing, leadership, entrepreneurship and creating a life and stuff that matters. These videos and posts are a fun project for myself where I share about what I'm thinking about or cool stuff I discover.

    submitted by /u/nigel_chua
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    Top behaviours that hold/held you back from becoming successful?

    Posted: 29 Nov 2021 12:37 AM PST

    Hey all,

    In the same vein as the "successful people, what do you do to earn over 10k per month", I'd like to understand the behaviours that have held you back from success in the past.

    Last night after reading through some threads, I started asking myself if some of my habitual behaviours were holding me back. Here is my example:

    I lost my job in February 2021, took a few months to slack off and do nothing (I was a high flying exec in Corporate Development and M&A for a SaaS company). I decided to start freelancing back in marketing as it is what I love, and now I have big aspirations to build businesses based on my acquired skills and knowledge in both marketing, SaaS growth, and the industry I was in.

    Since I started out in July, this is where I'm at:

    6,700 EUR billed thus far.
    Currently one client on a multiple-month contract, expected to hit 9,500 EUR before year-end.

    Why?

    I think I've been lazy. I hold myself back. I give myself way too much free time, play a bucket load of video games, and don't do any learning on self-improvement on the side. I'm probably going to bin my windows gaming laptop and buy a MacOS based system just to avoid gaming and force myself into a different mindset. I'm 29 now, time to grow-up.

    So guys, what behaviours did you have to trash in order to become more successful?

    submitted by /u/Alpaca_lives_matter
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    What does your $10k+ per month business do?

    Posted: 27 Nov 2021 01:02 PM PST

    This poll - https://www.reddit.com/r/Entrepreneur/comments/r3d0e1/what_is_the_average_monthly_revenue_of_your/ had a decent number in the $10k to $100k per month range.

    If you're in this range, what does your business do?

    . .

    Bonus points for info on;

    • Profit as a %
    • Number of people you employ
    • Number of customers
    • How long it took to get to this point

    Edit; formatting, added "how long" question to add context, as most efforts aren't overnight success

    submitted by /u/Fire7707
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    Help

    Posted: 29 Nov 2021 12:04 AM PST

    Best free place to make a webpage and or site please anything is appreciated.

    submitted by /u/consequance
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    What would you do differently starting off young & How?

    Posted: 28 Nov 2021 08:09 PM PST

    Was looking for some insights , Currently 14 years of age and Have set my heart on entrepreneurship for over a year now almost. Love the idea of working for yourself owning a business and everything that goes with it.

    With there being people who have owned/own a business or partaken in any entrepreneurial careers or activities if you could go back to your teenage /highschool days what are things & habits you would have started now to set yourself up for success later?

    Any insights or Advice is much appreciated! Thanks

    submitted by /u/Localliteskin
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    How it feels like to be a young entrepreneur, who has achieved success by themselves.

    Posted: 28 Nov 2021 11:47 PM PST

    Want to know the success stories of young entrepreneurs to keep myself motivated so that I can keep moving forward towards my Goal.

    submitted by /u/propelguru01
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    Ways to Increase Self Motivation for Business Growth

    Posted: 28 Nov 2021 11:44 PM PST

    One of the powerful forces that impact your motivation greatly is having the right mindset. You aren't accountable to anyone and no one is above you expecting you to meet or even exceed expectations. This is why you need to be self-motivated if you want to be successful in the business world.

    This content will explain more about how your mindset can affect your motivation and other self motivation tips to get you going on your entrepreneurial journey.

    submitted by /u/jacquelinenagle
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    Tips for getting paid as a Freelancer?

    Posted: 28 Nov 2021 02:10 PM PST

    Just looking for people with more skin in the game to perhaps offer some pro tips on getting paid.

    Like the frequency (ex. Weekly/bi-weekly), platform (I use PayPal subscriptions and charge bi weekly, anything wrong with this?), and whatnot.

    I do freelance copywriting if that helps your answer in some way.

    Thanks a bunch

    submitted by /u/BluntOwl
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    Hello Elon Musk

    Posted: 29 Nov 2021 02:35 AM PST

    1. Communication can be called constructive if during the conversation you yourself managed to formulate what exactly you are doing now as an asshole.

      1. Only such a strong feeling can push for decisive action. And the presence of actions based on the results of communication is the only sign of constructiveness.
      2. The main thing is not to talk to yourself. After all, if you are smart enough, then yourself can convince yourself of anything. Therefore, it is better to chat with someone, in a conversation with you there is more chance of feeling like an asshole.
    submitted by /u/gr1ib
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    3 Tips for increasing Lead Quality

    Posted: 28 Nov 2021 10:34 PM PST

    1. Write copy and design creative targeted towards the perfect client that can afford your product or service.

    2. Add questions that qualify for income to your landing page.

    3. Set your pixel to only fire when a qualified lead completes your form.

    submitted by /u/vvineyard
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    Thoughts on Starting a Luggage Storage Business

    Posted: 28 Nov 2021 09:03 AM PST

    I live minutes away from a major U.S. airport and I've been thinking about starting a luggage storage business for a while.

    Travelers who have nowhere to store their luggage could use this business to store their luggage at a low price ($1/hour, 6$/day).

    It seems like the start up costs for this business would be insurance, storage space, a website and Google Search ads. I may be missing some steps. Please feel free to comment any steps I may have missed.

    There are already existing luggage storage businesses who have an app where customers can store their luggage at a trusted business for a very low cost.

    Initially I'd be the one doing the storage in a secure storage space I own since I have no businesses signed up yet but ideally once I validate the idea I'd start reaching out to local businesses and launch an app where customers can store their product.

    This all seems simple enough but it's very possible I'm overlooking something whether it's the liability, the difficulty in acquiring customers or the profitability of this type of gig economy business.

    What do you guys think?

    submitted by /u/Agentdoubleo97
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