Wantrepreneur Wednesday! - (September 09, 2020)

by AutoModerator. Posted on Sep 12, 2020    6    32


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.


Comments

SlatanofDamascus

Hello fellow Entrepreneurs,

My brother and I start a CBD company, and after going through all the hurdles to establish one, we now have a challenging obstacle. Advertising!

We are unable to advertise on social media for "legal reasons" although CBD is federally legal.

We want to generate traffic to our website and ultimately increase sales. Does anyone know how to reach potential customers on social media? and is there another platform we should be utilizing?

Thank you all for the help in advance.

nuaran 1

Hello!

I am new to this sub and cannot post, and this question might have already been asked before.
If I want to start a business, where do I start?

As an example, let's say I buy items from China and sell it locally.
I am guessing I will need an accountant to do the books, but is there anyone else that I would need? Would I need a lawyer at this point? Anyone else?

If someone could share a link to a thread (given somebody asked this before), I would really appreciate it.
Or you could respond to me here, which would be awesome, too.

Thanks

jorgenriq 1

Hi all. Any advice on the best place to order personalized tape and sealing bags with logo for packaging please?

akguzman17 1

Hey team. I'm an active Air National Guard member. As a 'weekend warrior' I've realized the flexibility and sometimes uncertainty of full time employment. Thankfully, I've remained on full time employment with the guard. That said, I'm always thinking about 'what if' I don't work full time with the military. Where will I work?

Here's where I'm at - I'm absolutely passionate about the foundations of personal finance, especially for the military. I'm drawn to helping, and teaching others. So naturally, I start thinking financial advisor or financial planner career paths, but those really aren't up my alley. Instead I've decided to build a curriculum to coach young enlisted members through their toughest financial moments.

It hasn't been easy, especially with all the awesome and free resources available (like reddit!). But what I've noticed most about personal finance, is that the lack of accountability of such a big factor holding people back. That's what I want to provide; a money hype man in people's back pocket!

My concern: Personally, my initial thoughts on coaching is that it can be a job not taken seriously. But I'm interested in what you might think about it. If you're prior military, or currently in, even better! Your feedback would be greatly appreciated. Thanks!

ForTheMission 1

I think there is a great niche here. I've been involved with financial software development for the DoD for several years, and I think there is a need for general financial help for new enlisted. My questions back to you would be: what is it you are offering exactly? Just knowledge, advising service, a financial management platform, etc? The hard part is that there are really good solutions for each of those things already. But your edge would be to really tailor those to military needs.

A lot to figure out, but I like the idea. I could see many places it would be helpful.

TheEUR0PEAN 1

Does anyone know of a good platform/solution for a beauty salon that will allow clients to schedule appointments?

It must take into account the availability of the stylists. The stylists would be able to set their own hours on a weekly basis and be able to edit them as needed. The clients will be able to see what stylists are available and select their own appointments. The receptionist should also be able to schedule appointments for clients.

Basically something to keep track of client appointments that is not too technical.

ForTheMission 1

The big name in that space is MindBody. Have you looked into them?


Edit: updated link

yahya173 1

How would one get customers that are online store sellers? I've cold emailed some stores but I didn't get a response. Is it best to call them or email them?

teyshavoo 1

Hello!

I run a small team of 15-20 people comprised of 6 internal teams. I was wondering if anyone here had a suggestion for an online meeting tool that would allow a user to host multiple open rooms (as in all users can hop in and out of these rooms on their own). What we're currently doing is having each team lead to create their own zoom link, creating a document of these links, and then leaving each zoom link to join a different zoom link.

Our current method is quite inefficient. Are there tools that might be better suited?

Note: I have tried hopin.to (but it doesn't allow everyone to speak) and I've checked out workshopx.app (but it's similar to zoom in that you need different links for each).

​

Thanks for your help!

compiledexploit 1

I think you're looking for a discord that is set to private.

slizzwhiz 1

Can anyone help give tips on securing Angel investment funds? I've begun working with my boss on finding potential angel investors for our company. We're looking for large investments without going the venture capital route to maintain more control over the vision of the company. Does anyone have any suggestions on where to continue looking? We've already secured a solid amount of funding but I've been tasked with finding more and could use any tips I can get.

expeditionproven 1

Leverage connections. Going out and finding investors without them knowing anything about you previously or just being another person in a pile means that you have just as good a chance as anyone else.

Talk to people that know you that know people. Have other high-ranking people who represent your company well do the same. Whether it be an old friend or a family member, someone’s got an in with someone somewhere. It’s worth a shot if you don’t know where else to look, and usually, you get a better chance at securing an investment and some capital if the person has some confidence in your company personally.

kjhart1202 1

I am a current sophomore studying Engineering Management taking 17 credits. Throughout high school, I have had my own venture from my own property management business to dropshipping. I did drop shipping for the last 2 years but lost passion for it and had supplier/shipping issues after COVID.

I am now back on campus and miss being able to work. I constantly feel that I need to be spending any downtime being productive or it is a waste of time. I have trouble enjoying just hanging with friends as I feel my time can be spent more wisely. I am at a crossroads with now not having my own business anymore and being back at school after essentially a 6-month break.

I have this voice in my head that is telling me that I NEED to start a business or else I am wasting my life. I am very serious about my studies and want to take advantage of my engineering/business degree but feel lost now.

Has anyone else experienced anything similar or can offer any advice?

MaxPast 2

Absolutely! I was the same kind of guy when I was in the university, I even got kicked out of the 5th year because I was too excited about a software project I was building on the side. In the future I also got fired several times for the same reason: I always preferred my side projects to work duties. It took me 2 years of such struggle to finally launch something that actually made me money and yet another 2 years to launch something that I may call a success.

So, I must tell you that it's up to you what to do about your burning desire. You should just take into account that launching a profitable business will take way more time than you initially expected. And, speaking honestly, I made less money in my 20 years of business than if I pursued a professional career. I just had no other choice because I was unemployeable from the very beginning.

My advice will be to better spend your free time on learning management first, while you have a choice and aren't in a rush. You should start with studying decision making (Daniel Kahneman, etc) , then learn more about growing the business from experienced managers - there are a lot of books on the subject. Listen to business podcasts in background all day long. This way you will make much less mistakes when you launch your next venture, and this time will definitely pay for itself.

I also don't recommend to rush into "any" business just because you want to "do something". I saw numerous examples of how people ruined their lives because of starting too early for the wrong reasons. You better become a professional then launch a professional business - this way you will get some competitive advantage, less crowded market and higher margin.

kjhart1202 2

Thank you so much!! your view really helped... especially seeing it come from someone who has been down the path I view my self going down.

dobloxy 2

I am the inventor of new blocks for children and adults - DOBLOXY

More about the project on my website: http://dobloxy.com

I do everything myself. From the creation of these blocks, the website and the registration of patterns.
I am looking for people who would help me enter the market with them.
I am a creator, but I have little experience in the business world.

nuaran 1

Good luck!

danicaliyall 3

I wanted to start a kid's shoe business. I would start by drop shipping pre-made shoes, then go on go designing my own line and selling them via website and Amazon/eBay/ etc. I am having difficulty getting started because there are a few things I don't understand about business (no experience, and no one to ask). I would really appreciate it if someone out there would be willing to answer a few questions for me.

joltstore 2

Hi, sounds like a cool idea. Feel free to ask any questions you have. I'm no expert but I recently started an online store so I am learning it all fresh. I can help you provide some direction.

danicaliyall 1

Awesome, thanks so much! I'll hit you up on chat later :)

DoYouDonalddotcom 3

Have you ever considered a minor side project to fund your main start-up idea?

ShaggyEells

I think that's a great idea! My plan is to use my freelance copywriting business to fund a lead gen or affiliate based blog. Then that 2nd business will fund my events business which will become my main focus.

The idea here is to focus on building skill sets and relationships first to get the ball rolling.

nb2697 1

Sounds like a plan. Although, my two cents here would be, figure out how difficult it is to execute. Especially, if you’re a solo founder because you’re looking at some unparalleled mental stress! (10x everything if you’re non-tech)

OhSoStellar 1

What I'm looking to do currently! An ecommerce brand that has steady cashflow which will fund a SaaS play. Generally I'd advice against ecommerce as the side-hustle just because it can be cash intensive. Service based side hustles would be the way to go if you're just looking for immediate cash with little investment.

not_evil_nick 1

My automation consulting pays the bills for all my side projects.

Average_guy_77 1

Teach me

MaxPast 1

It's funny that almost always such "side projects" of mine turned into real businesses, much more profitable than "core" ones. The reason is simple: all of them were focused on actually making money from the very beginning, so I just wasted no time but got straight to selling something.

The perfect sample was when I've "almost finished" a great tool for traders which "could make me millions", but ran out of money in a way that could not even pay for my flat rent for the next month. So, I took pieces of my previous product and tried to make few hundreds dollars just for that purpose. It turned out that my attempt was made in the right place at the right time and this "side" business actually made me my first million pretty quickly.

There were a number of such cases of lower scale, so I see a clear pattern here. The only requirement for a good side project is that you must actually try to make money out of it, not just start yet another development process because you are too scared/lazy to make some sales of your core one.

nb2697 2

You mean like the cereal gig the AirBnB guys pulled off to stay afloat?

ShaggyEells 1

I think that's what he's talking about. Crazy story!

DoYouDonalddotcom 3

Exactly like that. I have already something in play and I wanted to post about it here. However, I cannot create posts here, yet.

martiener1 3

My future plan/dream is to create a micro SaaS side project, while still working fulltime, which I can grow to a company with about 5 people. Then when the microSaaS is "finished", I will start a new proper SaaS project with that company, while the first microSaaS still brings in money with (relatively) little effort.

Might not be what you are looking to do, but these are my plans/dreams.