NooB Monday! - December 27, 2021 Entrepreneur |
- NooB Monday! - December 27, 2021
- I run an 1PL Ecommerce business from my garage that did $814,000 in sales this year. AMA
- Tips on scaling AND staying a solopreneur?
- Product developer with depression
- Ive heard of companies doing very “casual” job interviews
- Any (non-tech) co-founder(s) here who want to build a business from scratch without accepting VC funding?
- We all feel like impostors sometimes
- Building a Saas Empire Takes More Than Just Code!!
- How do you guys get oeads for your business?
- How to leave a joint venture on good terms
- How are you collecting product feedback?
- Building credit for a LLC?
- Recommendation for sales script?
- Why does my female head of business development get a much higher cold email reply rate than myself (founder) when we send the exact same email copy?
- Shipping
- Projecting your business as something bigger than it actually is
- Subsidiary or a completely new company?
- how did you set up your website?
- Who's your favourite female leader and why?
- Hypothesis on large companies and blogging
- Hiring someone to clean up website
- Real estate brokers app - need feedback on idea
| NooB Monday! - December 27, 2021 Posted: 27 Dec 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. [link] [comments] |
| I run an 1PL Ecommerce business from my garage that did $814,000 in sales this year. AMA Posted: 26 Dec 2021 10:29 PM PST Hello /r/Entrepreneur and Merry Christmas to you all. I run a small ecommerce business from my house/garage which generates a pretty good profit for me each year. The work is not super easy, but I can get by with 2 hours a day of work, sometimes 3 if it's a busy period. Overall less than 15 hours a week. I wanted to post this and do a bit of an AMA to show you all that you don't need to run a massive operation with many staff and liabilities to get a great return from your business. What I have built here is a job for myself that earns an average of $200/hr for me. I do this on top of my regular job in IT. I am not a super business savvy dude, but I am damn good at Ecommerce and software. If you are semi-good at math and understand margins, tax, and overheads, you can get by running a small ecommerce gig like this. Please see below some photos of my set up with explanations. I take my privacy very seriously so photos are purposely blurry and low-res. Sorry! I respectfully ask you do not try to look me up or find my business. Packing desk: https://i.imgur.com/Giteg3o.jpg It's taken me about 3 years to perfect this setup. Depending on how big the products you sell are will depend on what this set up will look like for you. Most of my products are quite small so I can get by with a smaller desk. I also have larger boxes not shown for bigger items Warehouse setup: https://i.imgur.com/FMyxG8w.jpg Business stats: AMA. I'll do my best to answer. EDIT: Since this post is getting some attention, I'd like to say if you are someone who also runs a 1PL e-commerce operation like this residentially or similar, I would love to connect and share ideas. Please PM me. EDIT 2: Going to sleep. Will answers questions in the morning [link] [comments] |
| Tips on scaling AND staying a solopreneur? Posted: 26 Dec 2021 09:25 PM PST I just started a digital marketing consultancy about 3 months ago and it's on pace for $150k revenue (90%+ profit margin) in its first year. I just came from two digital agencies and know I DON'T want to scale by adding full-time employees. Would love to hear actual stories from people who have been in my shoes. I know the obvious answers like leveraging contractors/freelancers. I'm also working on productizing certain aspects. Would love to hear stories, tips, and inspiration! [link] [comments] |
| Product developer with depression Posted: 27 Dec 2021 06:11 AM PST I've lost drive to make any of the prototypes of my ideas. I just can't do it for some reason. I've been putting it off for months and some years. I've decided to hire someone to make the prototypes for me. Do you guys trust giving your unprotected ideas away to someone to create a prototype. Even with an NDA. They could still tell a friend or use it as inspiration to change it a bit and make it better to compete with you . Lastly . Who would be a cheap person I can contract it out too. I was thinking of just hiring someone who is naturally gifted with making things like many of us were growing up. I don't need an entire r and d team charging $5000 . [link] [comments] |
| Ive heard of companies doing very “casual” job interviews Posted: 26 Dec 2021 05:32 PM PST Basically the interview is set at a more relaxed place like a cafe or any place like that around their area. Its a different approach than how most companies conduct job interviews, but it intrigues a lot of possible hired employees. Who do you think? [link] [comments] |
| Posted: 26 Dec 2021 08:02 PM PST I have a lot of thoughts on this but first, I want to listen and learn from you. I am a co-founder and usually the full stack developer who brings the solutions to life, builds the MVP and then the tech team one by one. Have done it successfully 4 times so far spanning over 20 years. Failed twice. What I've not been able to do more successfully is build a unicorn. This frustrates the VCs we have raised money for. Our businesses have been cash flow positive and growing for us: not just the hockey stick growth VC are looking for. At these businesses, we have been forced to be acquired, pivot, and in one case shut down, a very healthy, growing business that customers love.
Feel free to DM as well if you don't want to comment here Hope you all had a great Holiday! [link] [comments] |
| We all feel like impostors sometimes Posted: 27 Dec 2021 03:30 AM PST My name is Tiago and I am hosting the Wannabe Entrepreneur Podcast for more than 170 episodes now. This has given me the chance to interview many entrepreneurs from all backgrounds and in multiple stages. From bootstrappers that have terminated their projects without even really starting it to entrepreneurs that write books and have thousands of followers. I learned a lot from them but one unexpected learning was that: They all have insecurities All of them fall into the impostor syndrome trap. Here are some good examples... 1- Arvid Kahl Arvid had an excellent exit with is company, sells hundreds of books and has more than 40K followers on Twitter. In my interview with Arvid he told me that he looks up to Peter Levels and there is times when he envies his success regarding the number of books he is able to sell. 2- Dagobert In a matter of month he was able to grow his number of Twitter followers from 2K to 12K. In my interview both with him and his Wife/Co-founder they told me that they are only now reaching a somehow decent salary after 4 years of struggling and that the pressure of keeping it up and avoid mistakes is sometimes too high to handle. 3- The Bread Code A YouTuber with 100K subscribers told me that he has spent one year without even reaching the 1K mark and after finding some traction has been spending countless hours with marketing, social media and testing multiple titles and thumbnail. All of the examples lead to three important conclusions... No matter our degree of success we all have our insecurities. Quite often you might think that the people you look up are better than you and you will never achieve their level but In reality, they are most likely worried to reach their own idols or simply stressing out to keep up their momentum. What you see is not what it seems Behind every successful entrepreneur, there are years of hard work, sacrifices and self-doubt. The success might seem instant for you because you only get to know the person at their best, but believe me. It takes time... Just because they are famous it does not mean they are rich There are very trendy businesses and profiles that in reality are actually making very little money. Either because they are spending most of it in marketing or just because it is hard monetize... Let's keep pushing Like you there are tons of other indie makers trying to build their projects and having little success. You are not alone! Just keep working consistently and always in the lookout for what you can improve! And if you feel like you need some extra support checkout our entrepreneurs virtual co-working space. Cheers, [link] [comments] |
| Building a Saas Empire Takes More Than Just Code!! Posted: 27 Dec 2021 06:55 AM PST In business there are principles which you can't diverge from because if you do, you risk going out of business. If you have enough business knowledge and grit you will have your way. You see, there are five major functions of business—productdevelopment, customer service, accounting, operations, andmarketing.Coders are within product development. In business what moves the needle is…. Sales and marketing. That is 20% of business moves 80% of business. Check out what Sabri Suby a marketing genius had to say in his phenomenal book, "This really became clear to me when I learned about Vilfredo Pareto. Pareto was an Italian economist who became famous for his 80/20 rule. This is now commonly called the Pareto principle. He first discovered this rule when he found that 80% of a nation's wealth was controlled by 20% of the population. As he studied this phenomenon more deeply, he found a disproportionate relationship between cause and effect in other areas of life, including real estate, growing crops, and all sorts of things: 20% of the input creates 80% of the result. 20% of the workers produce 80% of the result. 20% of the customers create 80% of the revenue. 20% of the roads cause 80% of the crashes. And on and on…" In everyday business life there are thousands of things that have to be done and the one that counts the most is sales and marketing.There are many coders turned entrepreneurs who just can't get the start-up up and running and to their knowledge it's the best thing since sliced bread. The day that coder decided to create a start-up was the day his profession changed, he was no longer a coder he was a salesperson, he will have to dedicate less time to code and more time to promoting and selling his product. Once any person in any profession decides to sell a product or service they become a salesperson and… ….sales is an art and science, It can be learned.Once a coder pursues the entrepreneurship path, he must become well aware that his primary task is to sell that Saas. You must now host webinars, learn SEO, SMM, Email Marketing etc.These branches of digital marketing are going to help you out a lot. You now must be where your customer is at. You have to establish a line of communication. And you must be able to communicate how your Saas will be able to help them. As you can see the tasks that you have to do now are not what you're used to and if you want to succeed you will have to learn it or associate yourself with marketers, and salespeople so they can lend you a hand. If you feel like doing it yourself I suggest you take the Google Digital Garage, Digital Marketing course, it's free and you will learn the fundamentals of digital marketing. If you want to meet marketers go to Reddit or FB and type in digital marketing and you can join the groups. If you remember and live by the 80/20 principle you will be able to operate a well greased Saas company. I can also assist you with Sales & Marketing tips. Feel free to DM me and also… Follow me on Twitter: yonathandelac16 [link] [comments] |
| How do you guys get oeads for your business? Posted: 27 Dec 2021 06:38 AM PST I always wondered that, how do you guys get leads for your business(inside sales) ? [link] [comments] |
| How to leave a joint venture on good terms Posted: 27 Dec 2021 06:28 AM PST A friend and I co founded a b2b whole sale company. We are early stage and have split all costs thus far (we are 50/50 owners self financed). I've been moonlighting this company along side uni and a VC internship. After much deliberation I want to focus on the VC firm as I find it more inline with my long term ambitions and want to go full focus their. That's said I really enjoy working with my cofounder, we work great together and can see us spinning something else up in the future, so want to prioritize that relationship over equity/ownership. Anyone with experience in leaving at an early stage similar to this? If I should pull out the ~80% of my capital we haven't used yet? Or if I should leave it and jump on as an advisor with ~5-10% equity? Not willing to leave everything as it is a little to much money for me to just burn. TLDR suggestions on ways to leave a start up at an early stage on good/fair terms where you've financed 50% [link] [comments] |
| How are you collecting product feedback? Posted: 27 Dec 2021 12:25 AM PST How are you collecting product feedback Also, some good info about what your business does would also be helpful, because different businesses operate differently [link] [comments] |
| Posted: 27 Dec 2021 06:20 AM PST A buddy and I own a LLC together that's we yet to use for anything. We both own 50%. I was wanting to start building it's credit rating. We are both pilots and have our full time jobs managing flight departments. I also fly contract on the side. This month I didn't have any real work for my full-time job so I've been contracting myself out to other people in need of a pilot. I haven't been home in a while but did pretty well making about $25k in contract money. My question is if I could bill my clients from the LLC we've created to show $25k going into its business account then paying myself $25k from that account. I understand that technically he'd own 50% so we'd have an amended operating agreement. Would this work for the LLC to actually create any credit history? Any legal issues you'd see with this? [link] [comments] |
| Recommendation for sales script? Posted: 26 Dec 2021 06:11 PM PST I fix phones. I have a physical address on Google maps but I'm behind on rent and can't use the space at the moment. So instead I offer mobile service for the time being. Whenever someone calls me, I don't know how to explain this to them. I tell them "I'm currently offering Mobile Service which means I can come to you and fix it within 30 minutes" But I end up losing the sale. I guess I'm not convincing enough or need a better script. Can someone recommend what I should say like a script or something? Greatly appreciated [link] [comments] |
| Posted: 27 Dec 2021 03:55 AM PST Additionally, the response is even better for women specifically. Thanks! [link] [comments] |
| Posted: 27 Dec 2021 02:45 AM PST Is there a company that offers unlimited shipping for a flat monthly/annual fee? If not what is the next best thing? [link] [comments] |
| Projecting your business as something bigger than it actually is Posted: 27 Dec 2021 02:40 AM PST Good morning, fellow Entrepreneurs! First time poster here with an interesting question. I'm a Solopreneur and own a financial services business (POS Systems, credit card processing, ATM Machines). From the beginning, I've always wanted to project an image of "big, trustworthy, and professional." As such, early-on I attained an 800 number that gets forwarded to my cell phone as well as a mailing address in Boston. My business is actually based out of my home in a small town in MA that not a lot of people are familiar with. My mentality is that people see the 800 number and the Boston address and instantly, it is a sign/symbol that the company is established and at least has some sort of credibility. The problem is, I don't really target anyone in Boston [yet]... I target people primarily in my hometown and in the immediate surrounding areas and primarily market myself as a "small, locally-owned business with a vested interest in the community." The industry I'm in allows me to do business anywhere in the country, which is another reason I chose the 800 number and a Boston-based "address." Am I sending the wrong message? If I'm marketing primarily to local residents and they see the 800 number/Boston address, do you think that turns some people off? Personally, I associate 800 numbers with unpleasant experiences/wait times/talking to robots/etc. Will I miss opportunities in Boston if I change my company's address to some obscure town outside of Boston? Should I care about opportunities in Boston or just focus on my immediate community (where there is far less competition but smaller customers)? Am I thinking way too much about what my number and address say in my signature line? Thanks in advance for any insight! Nick [link] [comments] |
| Subsidiary or a completely new company? Posted: 26 Dec 2021 10:00 PM PST I am thinking of branching our from my original business. The original business is in the health services and I want to go into education related to the services we offer. Should I create a subsidiary or a completely new company? If I go with a subsidiary, would the taxes be reported together or separately? I am not too clear on what is the best choice. [link] [comments] |
| how did you set up your website? Posted: 27 Dec 2021 12:58 AM PST i am researching ways to set up a website for my business. i'm in the fashion/beauty business selling a specific product so i need a site that displays great photos and has a robust e-commerce functionality. my research led me to squarespace and Shopify. squarespace came more highly recommended. im curious if anyone here has any experiences they could share. things they wish they knew sooner. or better alternatives. thank you. [link] [comments] |
| Who's your favourite female leader and why? Posted: 27 Dec 2021 06:38 AM PST Here's a great read on the world's most powerful women in 2021: [link] [comments] |
| Hypothesis on large companies and blogging Posted: 26 Dec 2021 08:47 PM PST We all hear blogging is great for building authority and seo and yada yada yada.....but why don't many national and internatonial companies have blogs. I noticed Target, Wayfair, Bestbuy and many others dont. I haven't worked at any large fortune 1000 company so its speculation on my part....but I do have some theories. Please chime in on what factor listed or otherwise that you think contributes to this:
[link] [comments] |
| Hiring someone to clean up website Posted: 27 Dec 2021 12:22 AM PST My site looks like dog shit and I'm trying to find someone to help me clean it up a little, does anyone have any recommendations/experience hiring someone for this? Thanks [link] [comments] |
| Real estate brokers app - need feedback on idea Posted: 26 Dec 2021 11:42 PM PST Single app which aggregates listings from all websites for your area/type/etc along with buy/sell leads which you can share with other brokers.. [link] [comments] |
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