What entrepreneurs can learn from Atomic Habits Entrepreneur |
- What entrepreneurs can learn from Atomic Habits
- Friend has asked me to become a silent partner in a business venture.
- What would you do if you have 90% downtime at a 9-5?
- How did you find out what you're passionate about?
- What is your educational background as an entrepreneur?
- Does anyone know how to land clients for email copy?
- Need some feedback
- Invoicing is time consuming
- Business partners want to increase prices
- Looking For A Co-Founder
- What's your best advice for launching a new product?
- Where do you find good quality, affordable graphics designers?
- Is it bad to tell someone in an interview that you aspire to own your own business?
| What entrepreneurs can learn from Atomic Habits Posted: 30 Nov 2021 11:54 AM PST Hey guys, Last week I finally got round to reading Atomic Habits by James Clear, a worldwide megahit of a book with more than 3 million copies sold. As an FYI, I read and summarize the best business books for my DIY MBA book club each Friday. Although the book's main focus, obviously, is around building and sustaining habits, there's a lot that we, entrepreneurs, can take away from it. Here are the things I have learned or found interesting: Forget About Goals, Focus on Systems Instead Why?
Ultimately, it is your commitment to the process that determines your progress. Become Yourself
The process: 1. Decide the type of person you want to be 2. Prove it to yourself with small wins Ultimately, habits matter because they help you become the type of person you want to be. The Role Of Our Peers Into Forming Us
We imitate 3 groups of people:
The culture we live in determines which behaviors are attractive to us. Choose The Right Field of Competition
In theory, you can enjoy almost anything. In practice, we enjoy things that come easy to us. List of questions that can narrow in on what is satisfying to you:
The genes do not eliminate the hard work. They clarify it. Don't cling onto an identity
Although I had thought a lot about these concepts, reading Atomic Habits was still quite eye-opening and reaffirming in multiple ways. I definitely recommend the book. [link] [comments] |
| Friend has asked me to become a silent partner in a business venture. Posted: 30 Nov 2021 01:29 PM PST Hey everyone, I'm not sure if this is the appropriate sub for this, but it seemed like a good place to start. A friend of mine is looking into purchasing an existing steel company he has been working for. They build steel buildings, warehouses, barrel houses, etc. The company's top line is around 1.2 million and bottom line is around 380,000. It's definitely a small business but the margins seem good. The seller wants 650k for the company. My friend wants 100k in operating money. With the purchase, the seller is offering one year of consulting at 5 hours per week, about 170k in assets, trucks, etc., and the company name. The seller owns the property but will not be selling the property, rather renting it to the buyer. Employees have agreed to stay with the sale. To me, this seems like a good buy. He has some money set aside, but not a ton. He's only made 40k a year working for this place so it's been hard for him to save. The core is this. He's wanting to get a 600k SBA loan in his name and he's wanting me to put up the 20% down payment of 150k. I'd be a silent partner with 20% ownership. I have the money and if it goes belly up, I'll be ok. He'd be the managing partner. Everything I gather is that since I'm a silent partner, I'm just considered an investor and am not liable for any debts other than my 150k at risk investment. Is this true? Is this a good buy? Having only roughly ran through the PL statements for the past few years, if things stay on track, I should expect to receive 76,000 a year before taxes, which sounds awesome on a 150k investment. It's worth noting that I believe in the company and trust the managing partner (my friend). He should receive roughly 304k of the bottom line to pay the sba loan and his taxes. [link] [comments] |
| What would you do if you have 90% downtime at a 9-5? Posted: 30 Nov 2021 10:20 AM PST Im 22, I work as an office coordinator/receptionist at an office that is about 10% open since covid. There is a LOT of downtime where it's solely just me, my phone, and my laptop. What would you do with this time? (Note: I'm a low middle class citizen I don't have big investment money) [link] [comments] |
| How did you find out what you're passionate about? Posted: 30 Nov 2021 02:09 PM PST So passionate that you're willing to do it for free, or with little to no pay? So passionate that you can tolerate long hours, and shitty bosses (or clients)? So passionate that you're willing to sacrifice all your relationships, your health and wellbeing? [link] [comments] |
| What is your educational background as an entrepreneur? Posted: 30 Nov 2021 12:51 PM PST Just trying to get an idea how valuable a business degree is to being a successful entrepreneur. [link] [comments] |
| Does anyone know how to land clients for email copy? Posted: 30 Nov 2021 10:34 AM PST I keep seeing things in reference to people writing emails for companies and getting paid pretty well to do so.. wondering if anyone has any experience or tips on the matter.. [link] [comments] |
| Posted: 30 Nov 2021 02:37 PM PST A couple of months ago, i was applying to YC with one of my startup ideas. I knew that my chances are slim (didn't get in, lol), so i thought that it will be good idea to apply to some other accelerators as well. This is when is realised how tiring, time-consuming, and repetitive the entire process of filling different application forms is. I looked for a service where i could apply to multiple accelerators at once, but couldn't find any. So i decided to do build it myself... I've been building www.edscapetech.com for a month now, but am suddenly struck with good ol' self doubt. I know that execution is more important than the idea in itself, but some ideas 'just make sense'. My question to you all is:- do you think a service like this is useful? Is this something you would use or pay for? Any other feedback? Thanks! [link] [comments] |
| Posted: 30 Nov 2021 02:36 PM PST I just started my business 2 weeks ago as a personal trainer in SoCal and have taken on 5 clients so far. My clients pay me for 3-months of training and I've been creating invoices like crazy. I have an invoice template on Microsoft Word and been filling it in manually. Is there a less time consuming way to create invoices or is what I'm doing now is the best way? [link] [comments] |
| Business partners want to increase prices Posted: 30 Nov 2021 08:37 AM PST I have two business partners. Just by word, nothing legal. The last contract they took was 3 months ago. Experience 5 years. 6 six-month-old firm. 3 contracts 1700$ revenue. Mine: Experience 5 months. 1-month-old firm. 5 contracts 1400$ revenue. Let's say I offer 800$ for a contract they offer 1000-1200$. But people simply are not able to afford that. The ones who are able to pay are looking for big companies. Partners say their time is precious so they have to pay what they deserve. But if we don't offer lower prices someone else will take the job. Tomorrow we will speak of this and I don't know how to convince them. What should I do? [link] [comments] |
| Posted: 30 Nov 2021 02:27 PM PST Hey, My name is Anthony. I've done a school project where I had to see why people are struggling with the stay at home corona restrictions and saw that there is a fairly big market in the space. People struggle with having an idea and then taking action on it. Might that be studying or might that be doing the dishes which has been left for 4 days, and now there is a huge pile of them!! My idea is to help people build discipline with a streamlined app and content to help keep people motivated. The app will also have functions to help people go from their newfound starting point, to help them reach their bigger goals using strategies that has been tried and tested. DM me if this interests you at all This is a very big project and I just don't have the time to do it all by myself so I am looking for someone who has a bit of time on their hands and that is good with problem-solving. [link] [comments] |
| What's your best advice for launching a new product? Posted: 30 Nov 2021 02:21 PM PST |
| Where do you find good quality, affordable graphics designers? Posted: 30 Nov 2021 01:45 PM PST I'm looking for good quality web designers (designers NOT developers). People who have taste, style and understand web design basics and User Experience. Where are you guys finding these people?? Sites like Fiver, Behance or Dribble seem like looking for a needle in a haystack with lots of poor quality or very expensive pro designers which are above my reach. Am I missing some obvious places? [link] [comments] |
| Is it bad to tell someone in an interview that you aspire to own your own business? Posted: 30 Nov 2021 09:01 AM PST Sometimes when asked in an interview where I see myself in 5-10 years I want to say a business owner. But, I'm afraid that is not what they want to hear, or is it? What is your take? [link] [comments] |
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