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    Wantrepreneur Wednesday! - November 17, 2021 Entrepreneur

    November 17, 2021

    Wantrepreneur Wednesday! - November 17, 2021 Entrepreneur

    Wantrepreneur Wednesday! - November 17, 2021

    Posted: 17 Nov 2021 02:00 AM PST

    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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    Money burning a hole in your pocket is not the beginning of a business plan.

    Posted: 17 Nov 2021 09:19 AM PST

    This subreddit has become so fraught with posts asking "I have $X,000; what business should I start?" or "How can I be my own boss for $X,000?"

    While I definitely admire the enthusiasm and the drive, it is horribly misplaced. Money does not make a business, only a well-executed, marketable idea discovered by identifying a need in the marketplace in which you intend to operate does. Otherwise, all you're asking for is for investment advice to which, if you don't already have an idea of what you're planning to invest in, the answer is always going to realistically be the bonds and securities market.

    To those who suggest to these folks things like "buy a pressure washer and go knock on doors" or "buy a food truck": quit giving these bad suggestions. While a pressure washing business and a food truck are not bad business ideas, they both pose the same problem: you're not starting a business as much as you're buying yourself a job. Also, scalability is far too limited in those types of businesses because any business that can be started by spending $1,500 at Home Depot or $10,000 on Craigslist doesn't have a barrier to entry high enough to avoid massive amounts of competition.

    If you're just looking for investment advice, head over to /r/investing or /r/wallstreetbets. If you want business/entrepreneurship advice, come here with a plan or at least an idea. And for what it's worth, nobody is going to steal your idea because it's almost guaranteed not to truly be original and is likely already being done by someone else, but that is a gripe worthy of its own post entirely.

    submitted by /u/ncurry18
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    If I am willing to put in the work and time, what's a legit way to make $1000-2000 a month consistently?

    Posted: 17 Nov 2021 11:58 AM PST

    If one is willing to put in the work and time, learn skills and then execute, what's a legit way to make $1000-2000 a month ONLINE consistently, and what those skills are ?
    edit: added "online" cause it's my main focus, I have my 9-5 and I want second stream of income afterhours, done online.

    submitted by /u/Flameseeker3000
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    I'm going to roast your business' website, SEO, marketing, or copy (Episode 3!). Drop your link below and let's go.

    Posted: 17 Nov 2021 04:29 AM PST

    Hey guys, decided to do this again since the last 2 threads were super interesting and got a lot of love.

    Tl;dr, you drop your website down in the comments and I give you feedback on how/what you can improve. Here's how this works:

    1. You drop a link to your site in the comments.
    2. You let me know the scope of the roast. Do you need comments on copy? SEO? Something else?
    3. You add any other relevant information that you think I should know. E.g. "we published 100 articles and none are ranking" or "our landing page just doesn't seem to convert"

    As usual, the roasting is first come first serve, and will continue for the next few hours till I OD on the roasting.

    If the sites are particularly interesting, might also come back to this tomorrow.

    Why should you care about my feedback: I've been in marketing for quite a while now and have helped drive 6 and 7 digit traffic numbers to several SaaS sites. I also happen to be real good at roasting after the last 2 threads ;)

    If you dig the roast, I'd appreciate if you checked out my sub, /r/seogrowth.

    So, let's do go!

    Edit: I'm done for today, but I'll get back to this tomorrow morning so keep em' coming!

    submitted by /u/malchik23
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    How to sell to small businesses? Can't get any customers for my SaaS.

    Posted: 17 Nov 2021 09:46 AM PST

    Hello everyone, I run an online SaaS business and have a whopping ZERO customers. I have spent the past 11.5 months working on this and I must say it is incredibly disheartening.

    This is NOT a promotional post/advertisement in any regard. I am looking for sincere advice and will not, under any circumstances, divulge any identifiable information pertaining to my business/product via comment, or PM.

    With that being said, I shall begin to explain my situation. In short, I have built out a SaaS that targets local businesses (mainly service businesses). I am a small business owner myself (0 customers :( ) and I am mainly targeting other small businesses.

    I am from the UK and am targeting customers in the US (for a multitude of reasons). I have spent hours tirelessly gathering relevant information of businesses who I think could benefit from my product and have emailed them all personally (tailoring each email to their specific business/industry). I think I've sent about 500 emails by now. I have had three responses -- all of which were telling me to remove them from my list.

    I know entrepreneurship isn't easy and I'm not trying to give up now. I've come too far and my product can seriously help local businesses. My SaaS idea is validated by my competitors (not really competitors, as I'm hardly competition lol). I have built upon their ideas and offer more useful features than these competitors. My product has a USP and is just an outright better product that that offered by others in my niche and I say that humbly.

    However, I can garner seemingly no interest from anyone. I don't understand it. There are others in my niche, who I know for a fact are doing millions in revenue each year.

    So, I ask you. Just where am I going wrong? How can I sell to other small business owners? I am setting up Google Ads now and am going to continue with the cold emails. But to have such minimal interest from qualified leads is frightening to me. Anyone got any other good ideas for B2B advertising, particularly with local service businesses?

    submitted by /u/MNIMDMCOTAOTNGOTFL
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    A fitness entrepreneur and creator is being attacked by Impossible Foods over prior registered trademarks

    Posted: 16 Nov 2021 06:38 PM PST

    I came across this story from a friend and wanted to share it here. There isn't much to say beyond what the entrepreneur himself has said so far, but I did a little digging to understand what is happening a little better.

    tl;dwr - A fitness entrepreneur is being sued by Impossible Foods over their trademarks granted by USPTO with the word "Impossible" for things like fitness, supplements, and merchandise. Impossible Foods appears poised to drop the word "Foods" from their branding and has already secured many of the trademarks they will need for using only the brand "Impossible" in nutrition, fitness, and health markets but realized sometime in 2020 there was already a fitness brand called "Impossible" and decided to sue them.

    Joel Runyon, the founder of Impossible HQ, Impossible X, and Impossible Gear claims his company is being sued by Impossible Foods over federally registered trademarks around the word "Impossible". Joel doesn't give any specifics as to what those trademarks actually are but might be tight lipped due to the ongoing litigation he is involved in (a TESS search on the USPTO website sheds some light with a little digging).

    This is the first I have heard of Joel's company, but according to his website the brand has been around since 2010. At best Impossible Foods didn't start until 2011 and didn't really recieve any funding until 2015.

    From what I can find it looks like the spat is around Impossible Foods' desire to control the usage of the word "impossible" in nutrition, and possibly any fitness related branding which Impossible HQ may currently own some of. Even though the company is called "Impossible Foods" some time around 2018 through 2020 they started filing trademarks just for the term "Impossible" and adding the (TM) to the word across their website like in the hero graphic on their recipes page to signfy the brand is actually "Impossible" and not "Impossible Foods": https://impossiblefoods.com/recipes

    One of the trademarks Joel's Impossible HQ owns (legal entity Impossible LLC) is Serial Number: 87884481 which is for "clothing and performance apparel, namely, t-shirts, sweatshirts, pants, shorts, tank tips, yoga pants, tights and underwear."

    Another is Serial Number: 87755108 under the legal entity Impossible X LLC for the word "Impossible" on nutritional supplements.

    It would appear that Impossible Foods is attempting to move beyond meat (intended) and into the broader health and fitness market and wants to do so with just the name "Impossible" but realized there is already a brand called "Impossible" in this space and decided to attack them with a frivilous lawsuit hoping to bankrupt the company instead.

    According to Joel's blog post and video, Impossible Foods is seeking to have his already registered trademarks cancelled and to allow Impossible Foods requests for trademarks to be prioritized over his brands. Every entrepreneur should pay attention to this case. Since 2015 Impossible Foods has racked up more than $1.3 billion in funds over 12 different rounds of funding. Joel apparently has only used tools like YouTube and his own website to grow his revenue and audience.

    Blog post from Impossible HQ here: https://impossiblehq.com/impossible-foods-lawsuit-statement/

    YouTube video from Joel here: https://www.youtube.com/watch?v=hwB8X59dMxc

    submitted by /u/joeyoungblood
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    Sharing our workflow principles playbook

    Posted: 17 Nov 2021 04:29 AM PST

    Hey!

    We have a short playbook in our company wiki we share with candidates upon final interview process to help them understand how we work.

    It outlines high-level principles we want to follow. In a few places it gets very specific to a digital product studio business, but I believe general concepts are applicable in most industries.

    In the very build-in-public spirit, sharing it below :) Hope you find it helpful!

    🟢 Fast feedback loops

    We don't work for days behind closed doors. We respect your privacy during creative work (no random Figma visits), but we like to hear about your progress daily. On the other hand, if you need more time to show the version for internal feedback, just let us know on the related project channel or daily standup.

    🎤 Honest, constructive feedback

    We want all of us to feel comfortable giving honest and polite feedback. The same goes for receiving it. We want [Company name] to be a place that encourages constructive discussions and fosters asking the question, "can we do it better?" and if so, "how?"

    ✋ Communication wins

    Does anything bother you? Something we could have done better? Have ideas that could positively impact our work? Tell us. We are always open and transparent, and we want our team to feel the same. [Company name] is a place where good communication and discussion are respected, honored, and appreciated.

    🔥 Don't get stuck in your comfort zone

    Never done UX wireframes before? Not big on talking to a client on call? We respect that but encourage you to try. We will be happy to help you however we can to level up your game. Not mandatory, but we will incentivize you to learn new things and help you along the way.

    🏁 Self-starter

    If you free up earlier or run out of tasks, you don't hang around waiting for someone to check on you. We trust you report your bandwidth, and if not allocated top-down - you look yourself how to add value to the company. Dribbble shots, conceptual work, tweaks to existing projects whenever you have no assigned tasks - we will greatly appreciate that. We care about each other like in a family. We care to perform the best work, not to please managers or a time tracker.

    📚 Always learning

    Everything changes so fast, so we all must learn new things to keep up. Would you mind letting us know if you would like to acquire a new skill or hone an existing one, and we can help you by providing guidance and buying a course or book? On the other hand, we appreciate your private drive to learn new things (staying on top of relevant media outlets, reading articles, self-developing, good Twitter following etc.)

    🙋🏼‍♂️ Be Helpful

    Not much to explain here :)

    submitted by /u/dcedrych
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    NDA before showing a product to online market place?

    Posted: 17 Nov 2021 12:08 PM PST

    I've developed and manufactured a new communications tool for wildland firefighters. I'm hoping to market it to one or more online marketplaces that sell a lot of gear for wildland firefighters. Are there any best practices to approach these retailers with my product and try to get them to sell them?

    I'm a little concerned about one of the sites and will likely steer clear because it looks like they have ripped off a similar idea from the original creator and marketed their own version on their site. This is the type of situation I'm trying to avoid.

    Also, does anyone have any concept of what kind of discount I'd be looking at to sell these to the retailer? I'm sure they are going to want to mark them up and take their cut, but I'm already selling these things at a pretty low mark-up because getting them out there is more important than making a profit. Mostly, I'm just trying to recover the costs of R&D.

    submitted by /u/dubforty2
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    I plan to start an online food business. I want to sell to people only in my community with no plans to expand, because I want to be that shop around the corner (selling point= fast and cheap delivery + support a small biz in the community). Good or bad idea?

    Posted: 17 Nov 2021 10:01 AM PST

    They'll be able to order on my website/potentially mobile app that I'll create, all before starting the business. The community is pretty large in size, decently wealthy, varying ethnicities, and very social (nice parks/dog parks, community center, library etc). The name of the community is branded on the convenience stores, the community center, and generally referred to by it's name, so I want to use the name of the community in my business name (example if the community's name is Livingston it would be called Livingston Kitchen - I don't know if this is legal as yet).

    I want to sell to my community-only in order to to make delivery times and fees short, but also to gear towards the niche of being the shop around the corner. We will be open late, because everyone in my house are awake at different times, lol. Also, we're all at home, my freelance work is flexible, my mom is retiring and my brother works part time. My girlfriend is a student. So we have more than enough hands necessary.

    As for the actual product, I want to keep the list and ingredients short and simple. Highly nutritious soups/smoothies/juices are the core ideas for the healthy food section, but there will be more depending on my next point.

    I always planned on selling, highly nutritious healthy food so there's that side of the "Livingston Kitchen", but my mom's cooking expertise brings a whole other level to the business.

    She's so good at cooking and baking that she's known among my friends and family to be "the best cook they know". She's a chef that never became one, so she's now at a point where she's getting excited to add her own food to the menu. She's consistently made great food from so many cultures, so the variety of foods will definitely be a bonus for the business. She plans to see how many things she can make with a set list of ingredients.

    Lastly, there's my brother who has always wanted to start a burger joint, and I'd say so far he's pretty good at it. So he plans to make and offer burgers, hot dogs, fries etc.

    I do freelance developing/designing/photography/brand strategy, so I'll be taking care of the website, mobile app, digital marketing and social media, while creating the healthy options on the menu.

    Sorry if this was longer than expected, I just thought that giving all details would help you all help me. Any advice/criticism is welcome! Thanks for reading :)

    submitted by /u/don_valley
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    Injection Molding Help

    Posted: 17 Nov 2021 01:09 PM PST

    Hey everyone!

    I'm currently working on a product that I want to build at scale in the next year. Our 3rd prototype is almost finished up and has been made using a 3D printer which we deem to not be suitable for mass production.

    With that said, we want to move to some sort of injection molding, but have no clue where to start. I'm hoping someone here can either answer a few questions or point me in the right direction.

    ​

    1. How much does an individual mold cost to produce?
    2. What is the best way to go about choosing an injection molding (or similar) machine? (Is going with a used machine worthwhile here for the cost savings?)

    We would like to make the parts of some renewable/recyclable plastic, something that is durable and ideally can dissipate the minimal heat generated by the few electronics that will be within the product. It would be nice to use recycled plastic for the parts if possible, but if not we would like to use a plastic that could eventually be reused/recycled.

    Thanks in advance!

    submitted by /u/Taco_Man-
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    Looking for someone with crypto casino/gambling industry experience.

    Posted: 17 Nov 2021 01:08 PM PST

    Dm me for details

    submitted by /u/Redlad326
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    Idea for a Checkatrade / TrustATrader type business for busy sector that needs it. Where to start?

    Posted: 17 Nov 2021 10:06 AM PST

    So I have an idea for a site that functions similar to those Tradespeople sites (Checkatrade, TrustATrader, Rated People etc.) but they all focus on tradespeople, whereas I wouldn't.

    My idea is that but for a different sector, and the sector I'm interested in is desperate for it. It has an abundant amount of consumers and has a negative reputation for con artists and would really benefit from the transparency of a review/check service.

    My main two questions are:

    1. Where do I start? I have a decent amount of cash to spend but obviously want to keep everything to the minimum cost-wise. As the website would practically be the whole service, getting that right is key. This is obviously beyond the scope of a quick Wix site, so who am I looking for to facilitate a site like I require?
    2. The best way to monetise? I'm torn between having it cost the businesses a medium sum, or the customers a low sum.

    Any help or advice would be appreciated.

    submitted by /u/LordCrumpets
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    Kids Entrepreneur Camp + Product Leadership + Fundraising

    Posted: 17 Nov 2021 12:06 PM PST

    I recently joined Moolah U, known for bringing transformative financial literacy for families and kids, and we are running a special Winter Cohort of our Kids Entrepreneur Camp over the holiday break. Check it out at --> moolahu.com

    We are also looking for our product leader in the FinEdTech space. If you know anyone who is passionate about bringing ethical technology to the world, send them my way.

    To bring our product to families everywhere, we are raising funds to expand our community, grow our leadership team, and bring our app to the market. If you also happen to know angel investors who back social impact ventures, also send them my way.

    All the best and many thanks,
    Ashley Balstad

    submitted by /u/ashleybalstad
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    Startup Business Plan - Goals & Objectives

    Posted: 17 Nov 2021 09:42 AM PST

    Howdy, ya'll? I'll be quick with this one.

    I'm writing a business plan utilizing a template that I was provided with from the SBDC. Frankly, the template sucks. I've been referencing other templates to supplement the information I'm including; however, I cannot find a helpful resource for guidance in writing our goals and objectives. Virtually, every blog/article I find about goal setting is intended for somebody who already has an established business. Basically, I'm in the process of taking my idea and putting it into writing - How do I intelligently go about setting goals in a meaningful way?

    For context, I'm writing a business plan in consideration of building tiny homes as a developer.

    Thank you for reading and responding.

    submitted by /u/DustyJames3
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    Beauty supplier - how to source

    Posted: 17 Nov 2021 07:52 AM PST

    I'm planning on opening a beauty supplier in LATAM markets for small to medium sized businesses. I've found some supplier websites but how can I find the suppliers for Walmart or even Shopify stores? I've seen websites to do this before in random videos even tracking shipments but I hadn't paid attention to it before

    Secondly, does anybody have experience supplying outside of the US? I'm curious to hear of your experience shipping from US to LATAM region and directly from the manufacturer to the target region. Any advise is appreciated, I am in the early stages of this venture. Thanks!

    submitted by /u/rarenaninja
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    Selling a C Corp

    Posted: 17 Nov 2021 03:06 PM PST

    What's your favorite social impact business model?

    Posted: 17 Nov 2021 03:04 PM PST

    I'm developing market- focused solutions for the nonprofit I run, and I'm looking for feedback from experienced entrepreneurs about your favorite social impact business plan. Anything you've done or dreamed about doing is fair game!

    View Poll

    submitted by /u/techniq42
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    If anybody wants to post their black Friday SaaS deal on my site, I am happy to list it.

    Posted: 17 Nov 2021 02:53 PM PST

    Here is the link to the form and this is our pagewith SaaS deals

    submitted by /u/harsh5161
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    Make Money Work for you | Buying Monetized YT Channel

    Posted: 17 Nov 2021 02:19 PM PST

    I started my own YT channel for fun 2 years ago, I was not able to really take care of it, but I have been researching ways to grow and monetize and I came across EazyViral and at first, I thought of buying one then editing it to make it my own content... But the longer I think about it, the more I kinda just want to keep what they have there and just allow the views to come in.

    I tried looking for reviews and comments on Reddit regarding this but I just can't find one...I found ones where they said NOT to buy a monetized channel... BUT Easzyviral just makes it look legit and easy... Any opinion?

    submitted by /u/orochimaru88
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    What Should You Do If Your Purpose Is Just To Make Money?

    Posted: 17 Nov 2021 04:33 AM PST

    Making money is the activity that gives me the most pleasure. Just seeing the dollars come in. When I make 10.000 on the stock market, or I make a 10.000 sale, I love it! It's just the making of money itself that I enjoy...

    So what should such a person do? I do lots of marketing work, but the whole shtick of "let's help people", "let's solve problems", "provide value"... it's not for me. I don't care for any of that. Just love making money.

    So how can I best actualize my purpose? What business should I focus on?

    submitted by /u/Ragnarross
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    Want to make a few apps. How should I progress?

    Posted: 17 Nov 2021 09:52 AM PST

    I am keen to make an app or two that I have been contemplating on since sometime now

    Am a software developer by profession ( not made mobile apps though I did try some web based tools like Flutter and that could help me make the app atleast to begin with ) but not sure if I can do the app development by myself. At the same time I am not very keen to offload it completely. What can I do in this scenario?

    Can I hire someone, on let's say an hourly basis and work alongside them learning myself as well?

    How about I get an intern? Will I need to have a company for that?

    Don't have something fully on the lines of startup as yet. Its just a personal urge that I am going for.

    Also how important is it to have a social life esp in context of pursuing entrepreneurship? I moved back to my hometown during the covid situation and will be here for some while. So having a social life will need some work and that might take some of my focus as well.

    submitted by /u/purezen
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    Does my business bank have a right to ask me what I plan to purchase before extending the maximum daily limit on the debit card?

    Posted: 17 Nov 2021 07:15 AM PST

    My business banking debit card limit is set to $5000. I am trying to make a purchase that exceeds that amount. I sent them a secure message asking to increase the limit to make the purchase. They refused citing insufficient information and asked me to specify what it is exactly that I will be purchasing.

    From where I am sitting it's none of their god damned business what I'm purchasing. It's my businesses money, and I will spend it as I see fit.

    Thoughts?

    submitted by /u/haptiK
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    Suggestions for dog day care

    Posted: 17 Nov 2021 12:56 PM PST

    Hi everyone,

    I'm 25M from Sydney, aus. I have been working at a dog day care/grooming salon/boarding kennel for the past 3/4 years. I want to start on my own in the next year or two. Most of the money in our business comes from boarding (when people go on holiday ect. obviously it's been slowed down with covid but before that it was always booked out especially in the European summer period). We do get busy with day care and grooming but obviously it varies and there's some days where there's barely any day care dogs.

    So for example for a dog that stays here for 2 weeks in boarding is $840 (14x60). Day care we charge $50 but obviously a dog will usually only comes once to twice a week.

    My issue is that I don't want to do the boarding side of it. I don't want to live on site like my boss does and I would like week ends off to clean the facilities and spend time with my family.

    I'm looking for some ideas that would complement day care and grooming. Could hire a contracted trainer and do training classes on the week end. Could offer pick up and drop off when coming to day care, except I would need competent staff that are able to run the show while I'm out picking up and dropping off.

    Could you help please?

    Thank you!

    submitted by /u/FrenchFriesSydney
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    is there a platform/website to find startups that are not looking for investments in the U.K. ?

    Posted: 17 Nov 2021 09:02 AM PST

    If not then how can you find these companies ?

    ​

    Thank you

    submitted by /u/Rabei25
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    BEST Tools for automating business accounting

    Posted: 17 Nov 2021 12:38 PM PST

    Having a business might seem fun on the outside, and it is, at least most part, some things are hard, or even impossible, for a solo entrepreneur or a new start-up to manage, like BookKeeping/accounting and you could try to outsource it to external large accounting firms, but the costs can add up quickly and eat into your profits, which are probably already slim, given that you are still in the growth phase.

    so we can we do? well, you can (try to) keep managing your books and hope that's sufficient, or use an accounting A service, and unlike DIY ones like FreshBooks, these actually manage your books, instead of helping you manage them, but that doesn't mean that DIY tools are bad, they can be good for freelancers or businesses that have an in-house accounting personnel.

    Read the article here

    submitted by /u/FortniteSkinz
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