Official Entrepreneur/Business Thread vol.1

Most likely selling electronics. I want to sell product via ebay and eventually from my own website.

Why electronics?

Anyway, selling online isn't rocket science. I suggest subscribing to Shopify's newsletter and also learning as much as you can about Facebook ads (believe me, there's a lot to learn). If you can master Facebook, you'll be a millionaire inside 12 months.
 
Sad how this thread is only 8 pages, yet all them other silly threads are adding pages by the minute.
That's how it works. There's the event and process. People see the event, IE the multi million dollar contract, the buyout, etc., but they don't see the process that goes into it. It's not for everyone. This is why 'treps surround themselves with each other. Overnight successes are rarely anything but overnight. You put in the hours initially and fall in love with the process.

People fear uncertainly. You save up $5k. Would you ride that $5k to see if the business is sustainable or would you use the $5k to stunt at clubs? Most would choose the latter. Instant gratification is hard to resist.

Why electronics?

Anyway, selling online isn't rocket science. I suggest subscribing to Shopify's newsletter and also learning as much as you can about Facebook ads (believe me, there's a lot to learn). If you can master Facebook, you'll be a millionaire inside 12 months.
Electronics are horrible to me, especially if you're sourcing overseas because there are a lot of things that can go wrong and communication can be glitchy.. And yes, FaceBook marketing is crazy, you can pinpoint your target down to a tee. My friend runs a marketing agency and he charges companies $10k to teach about FaceBook marketing, and he's constantly booked. I think his firm does $1M in ad spendings per month.

And please don't look at buying knockoff stuff...they would get confiscated quickly and you'll be out of the money.
 
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Electronics are horrible to me, especially if you're sourcing overseas because there are a lot of things that can go wrong and communication can be glitchy..

I can't say I agree with this. Lots of people make a killing selling things like flashlights, lightbars for SUVs, etc. Heck, one of my stores sells electronics and I did $100k in my first 20 days.
 
I can't say I agree with this. Lots of people make a killing selling things like flashlights, lightbars for SUVs, etc. Heck, one of my stores sells electronics and I did $100k in my first 20 days.
I was referring to something more adverse. EX: I looked at cups that can be plugged into USB ports to keep the beverage warm. Price was good. Shipping price was great since it is small and light. I can air freight for not so much. But unlike flashlights, what happens if it overheats or catches fires? I'm liable. And it would need to pass US safety codes since the manufacturer is in mainland China. I've gone with other products since.

There's tons of ways to make money, dudes. There are 7 figure blue collar companies out there. You just gotta hustle and stop procrastinating. Action cures fear.
 
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I was referring to something more adverse. EX: I looked at cups that can be plugged into USB ports to keep the beverage warm. Price was good. Shipping price was great since it is small and light. I can air freight for not so much. But unlike flashlights, what happens if it overheats or catches fires? I'm liable. And it would need to pass US safety codes since the manufacturer is in mainland China. I've gone with other products since.

There's tons of ways to make money, dudes. There are 7 figure blue collar companies out there. You just gotta hustle and stop procrastinating. Action cures fear.

You're putting the cart before the horse, my friend. What happens if you sell baby shoes and the shoe rips and the baby cuts his/her foot? You would liable, right? I would worry first about being able to sell a product before I start worrying about post-sale worst case scenarios. That's just me though--I'm not risk averse when it comes to business.

Anyway, this is a screenshot from today's sales so far for one of my stores. Margin is about 50%. Not a bad thing to wake up to.

View media item 2035876
 
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You're putting the cart before the horse, my friend. What happens if you sell baby shoes and the shoe rips and the baby cuts his/her foot? You would liable, right? I would worry first about being able to sell a product before I start worrying about post-sale worst case scenarios. That's just me though--I'm not risk averse when it comes to business.

Anyway, this is a screenshot from today's sales so far for one of my stores. Margin is about 50%. Not a bad thing to wake up to.

View media item 2035876

Do you have a mobile app as well or just a .com website?
 
I have a responsive website that was designed for mobile first (as most ecommerce sites in today's day and age should be). 90% of my traffic comes from mobile.
 
I have a responsive website that was designed for mobile first (as most ecommerce sites in today's day and age should be). 90% of my traffic comes from mobile.

Of course. I'm trying to find an on shore mobile devolper but the decent one cost a lot. since I'm just starting out funds are elastic.

wish I majored in MIS in college now lol.
 
I have a responsive website that was designed for mobile first (as most ecommerce sites in today's day and age should be). 90% of my traffic comes from mobile.

Of course. I'm trying to find an on shore mobile devolper but the decent one cost a lot. since I'm just starting out funds are elastic.

wish I majored in MIS in college now lol.

Agreed. I'm just going to start with squarespace for now and really jump that hurdle once I've created some cash flow.
 
Agreed. I'm just going to start with squarespace for now and really jump that hurdle once I've created some cash flow.

That what i was talking to my potential partners about. Create a website that mobile phone friendly then once we start to (hopefully) make money create a slick Andriod and iOS app
 
My partner and I are currently in the process of creating 2 mobile apps. The developer we found is based in India, he is fluent in english and has great comprehension skills. We have a meeting with him today to discuss his expected hours needed to complete the apps. I am thinking somewhere around

80-120 hours, hopefully his estimate is close to ours.

@FLYKNIT congrats on your success! I had no clue what you did.

Do you do strictly ecommerce ? How many businesses and sites do you have?
 
My partner and I are currently in the process of creating 2 mobile apps. The developer we found is based in India, he is fluent in english and has great comprehension skills. We have a meeting with him today to discuss his expected hours needed to complete the apps. I am thinking somewhere around
80-120 hours, hopefully his estimate is close to ours.



what kind of app? do you need investors? srs.
 
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My partner and I are currently in the process of creating 2 mobile apps. The developer we found is based in India, he is fluent in english and has great comprehension skills. We have a meeting with him today to discuss his expected hours needed to complete the apps. I am thinking somewhere around
80-120 hours, hopefully his estimate is close to ours.

@FLYKNIT
congrats on your success! I had no clue what you did.
Do you do strictly ecommerce ? How many businesses and sites do you have?

Thats not a bad timeline.How are you handling security, will you own the code? My biggest fear is having a off site developer build something and then creating a backdoor in which customer info can be accessed at a later date.
 
what kind of app? do you need investors? srs.
They will be apps providing functionality for Social Media. We don't need any investors for these 2, but I do have a few big projects that I will be looking to get investor funding for. I will PM you when I am ready to present the business plans.

Quote:
Thats not a bad timeline.How are you handling security, will you own the code? My biggest fear is having a off site developer build something and then creating a backdoor in which customer info can be accessed at a later date.
No personal information will be stored on  the apps that I am creating.

If you are getting a professional freelancer with a good track record , and have proper documentation/agreements signed prior to starting the project you should be okay. Security is always a big concern when dealing with sensitive information.

If you use a payment processor like stripe, paypal, square, shopify, etc I think you would have enough protection to prevent a backdoor.
 
Just started working for a tech full internet services start up in business development. Anyone have any experience with building a client base? I work a full time job in sales right now so it's tough to maximize my time. Any tips would be appreciated!

Check out our website too intraspire.com
 
My partner and I are currently in the process of creating 2 mobile apps. The developer we found is based in India, he is fluent in english and has great comprehension skills. We have a meeting with him today to discuss his expected hours needed to complete the apps. I am thinking somewhere around
80-120 hours, hopefully his estimate is close to ours.

@FLYKNIT
congrats on your success! I had no clue what you did.
Do you do strictly ecommerce ? How many businesses and sites do you have?

Lol let me know if yall need a BA.
 
 
My partner and I are currently in the process of creating 2 mobile apps. The developer we found is based in India, he is fluent in english and has great comprehension skills. We have a meeting with him today to discuss his expected hours needed to complete the apps. I am thinking somewhere around

80-120 hours, hopefully his estimate is close to ours.

@FLYKNIT congrats on your success! I had no clue what you did.

Do you do strictly ecommerce ? How many businesses and sites do you have?
Hey if the app developer in India doesn't work out, shoot me a PM. Our company creates mobile apps as well for a really great price. Check out our website intraspire.com
 
Lol let me know if yall need a BA.
Will do
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Agreed. I'm just going to start with squarespace for now and really jump that hurdle once I've created some cash flow.

If you're doing ecommerce, I would avoid Squarespace and look into Shopify. Use this link for a 45 day trial + 20% off your subscription (not my affiliate link; just looking out for NTers): https://www.shopify.ca/smart-marketer

Why do you encourage shopify over e-commerce?
I am going to start selling a sauce.
 
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