The Entrepreneur / Business Owner's / Self Employed Lounge

storm

Pelican
Gold Member
The business I posted about last on here has taken off. I've got several solid clients. But, in creating this company, I realized that there was a need that had a much larger audience and after some quick calculations realized that I could make a good profit with such a SaaS.

I sometimes feel as though I'm always jumping from one business to another, so I am still focusing on the core business, but working on the side gig on the side. It's actually at the point where I can take two weeks off of my main company to work on this side business and the company functions more or less fine, just a little bit of emails etc. every other day.

So things have been looking up. There are some downsides but I am optimistic. I hope you are all doing well.
 

Trent W.

Robin
A question to those who are self-employed and do consulting work or provide some sort of service (e.g. own consulting firm): Do any of you do work for clients that are not in the country your company is registered in?

In that case, I'd be interested in knowing how you handle logistics such as work location/office, payment currency or anything else under that category. Do you spend any amount of time in that foreign country?

And a more general question, how do you find clients from abroad?

Europe is of more immediate interest to me, but feel free to share your experience regardless.
 
Any affiliate marketers that can help with IG shout-outs?

I paid for a couple of shout-outs and got a dismal return, two accounts 115k followers, 2000 likes, 10 PAGE VIEWS/100k followers, 220 likes, 19 page views.

Those figures don't add up.

Where's it going wrong?
 
CleanSlate said:
RedKurrant said:
How do you guys maintain the energy to keep working on a business while working full-time?

About a month ago I launched a service-based business and have so far landed six clients, but I'm starting to feel burnt out already. I'm working ~70 hour weeks, which entails the 9-5.30 job, and then working a couple of hours before and after work, during my work lunch break, and most of the weekend.

My worry is that if I don't keep grinding away I'll never earn enough from the business so that I can quit my job and work on it full-time. How can I push through when all I want to do is throw in the towel everyday?

Set a time limit for working on your business while on the job. 6 months maybe. If after 6 months your business isn’t getting anywhere, either the business idea isn’t profitable or you simply haven’t put enough into it. At 6 months, you will know which is which.

Then you’ll have to decide whether to quit your job to focus on your business full time, or forget about it and try a different business idea later.

The idea is to not let yourself burn both ends of the candle forever, because as you say, that leads to burnout. So set a time limit on that.

I have had the same problem. My full time job consists of shift work and is quite demanding. I have basically taken the business to a point where it is developing by itself with minimal effort from my side. I.e. hiring an SEO guy for 10-15 hours a month. Which means that I am not pro actively looking for clients and at the moment it feels very stagnated.

It is going to take a while of course but the way I see it, there is an operational business on the side slowly developing while I can focus on my career.

I guess it depends on what avenue (Your career/business) will produce better results in 5-10 years time.
 

roberto

Pelican
Gold Member
Got my new guy starting next week. I'm flat out designing leaflets, re-doing my website and quoting jobs to keep the new team flat out.

One of my guys is a bit slow- good labourer and a hard worker but no use if you need him to think. Perfect for delivering flyers- I tell him to concentrate upon the posh bits of the area and track him via a mobile phone to make sure he doesn't accidentally stray into any social housing areas...

Had two enquiries off a mornings flyering already. Looking good but I need to keep pushing as this new guy is on a pretty good wage and I need to keep him busy.
 
One of the things that isn't mentioned too often is patience and trust in your system. Sometimes, running something for yourself is kind of like playing a game of chicken, you have to have faith in your planning. I'm sure some would be successful business owners are back on their 9-5 fixed income because they panicked about not making enough fast enough. Sometimes it truly is a hare vs. tortoise race.
 
I am working on a software business at the moment but I'm at a crossroads.

My programming skills are okay, but not great. I have build out a basic skeleton of the web app so far and have verified demand by gathering ~1k email sign ups pre-launch.

But it may take at least 6 months to a year to release the first version of my solution due to the complexity of it and the learning curve I'm facing.

Does anyone have any ideas for how I can approach either:

A). Getting a partner on board to help code the thing
B). Hiring out development (I have some cash, but not enough I don't think)
C). Raising funds with investors or a kickstarter of sorts?
 

Black Caesar

Woodpecker
Need to start simpler if it is going to take you 6 months to MVP. Remove features until it is the concentrated idea to release first then build up from there.
 

081287

Sparrow
Recently got a new phone and number separate from my usual to run a phone and computer repair business on the side of my regular job. It's my first serious endeavor at making decent coin outside of any career I've had as an adult. Initial investment is approximately $1,500 to keep iPhone screens in stock, plus a handful of computer hard drives. Got business cards ordered to pass out in certain scenarios (trying not to interfere with my main gig).
 

Isaac Jordan

Kingfisher
Gold Member
Does anyone here have experience with targeted ads on Facebook, LinkedIn, Google, etc.?

(I know we have a Facebook Ads for Idiots thread, but I'm hoping some of you can provide feedback based on personal experience).

I run an investment service that can only accept accredited investors, and I know exactly who my target market is: older, educated, wealthy white-collar workers (doctors, lawyers, etc.) who have plenty of money but aren't good at trading/investing themselves.

As much as I hate to give money to Big Tech, I like the idea of targeting precisely the sort of prospect I'm looking for, especially because the majority of people aren't accredited investors and it would be a waste targeting to the masses rather than filtering for my very specific target market.

Has anyone used any of the major platforms for this sort of targeting? What's your experience been?
 
I think the business of electronic repairs in the future could be huge.
With the majority of the population living hand to mouth, it’s only a matter of time before people realise they can’t keep purchasing brand new shit all the time.
I’ve just quit my job as a service tech for a large corporation, and will be going out on my own. For you young guys out there, getting a trade (or on my case dual trade HVAC and electrical) may not be sexy, but if you can present and sell yourself well, the potential to run your own business and earn good money is there.
A lot of trades people are very rough and careless, overweight and don’t present well.
Apply basic red pill principles and sky is the limit.
Disclaimer you will have to get dirty and sweaty.
 

fktax

Sparrow
BigTedSven said:
I think the business of electronic repairs in the future could be huge.
With the majority of the population living hand to mouth, it’s only a matter of time before people realise they can’t keep purchasing brand new shit all the time.
I’ve just quit my job as a service tech for a large corporation, and will be going out on my own. For you young guys out there, getting a trade (or on my case dual trade HVAC and electrical) may not be sexy, but if you can present and sell yourself well, the potential to run your own business and earn good money is there.
A lot of trades people are very rough and careless, overweight and don’t present well.
Apply basic red pill principles and sky is the limit.
Disclaimer you will have to get dirty and sweaty.

I've been thinking the same but for bicycles. Bike shops are dying because everyone buys online, but a mobile bike fix it van that fixes flat tires, broken chains and faulty brakes would shortly earn a packet.
 

paninaro

Kingfisher
Isaac Jordan said:
I run an investment service that can only accept accredited investors, and I know exactly who my target market is: older, educated, wealthy white-collar workers (doctors, lawyers, etc.) who have plenty of money but aren't good at trading/investing themselves.

You're seeking one of the most coveted customers -- HNWIs (high net worth individuals). All kinds of companies and services are targeted towards them, so if Facebook/etc ads are a good way to get them, you can be sure the ad rates will be high since others are marketing to them for their products also.

You didn't mention what kind of financial service, but is it general advisory services? That's particularly tough because of switching "costs" -- most people of that profile already have an advisor, so the advisor has to royally mess up for them to be in the market for a new one.

Anyway, getting back to your question, some ad services let you set up your targeting and then will show you the suggested cost per click/engagement. Based on that, you can run the ads with a limited budget and see if there's any conversion or uptake at all.

That's really simple to do, and you wrote this a few days ago, so maybe you already did it -- would be curious to hear how it turned out. That target market is a tough nut to crack.
 

Isaac Jordan

Kingfisher
Gold Member
paninaro said:
You didn't mention what kind of financial service, but is it general advisory services? That's particularly tough because of switching "costs" -- most people of that profile already have an advisor, so the advisor has to royally mess up for them to be in the market for a new one.

Anyway, getting back to your question, some ad services let you set up your targeting and then will show you the suggested cost per click/engagement. Based on that, you can run the ads with a limited budget and see if there's any conversion or uptake at all.

Not an advisor - my fund is dedicated to a niche alternative investment (my rep points should give you a general idea).

Yes, it's a very crowded market for HNWIs' attention. My current plan is to streamline my website and maximize my SEO so anyone out there searching for a service like mine can find it; after that I'll look into the possibility of targeted ads.

Thanks for the response - I'll update the thread later with my results.
 

Donfitz007

Kingfisher
Hello I don’t mean to hijack this thread but I need advice! I’m 25 years old and was in the process of developing a mobile game that has the potential to be somewhat great(due to a lot of feedback). Long story short some things happened that caused both my laptop AND my external hard drive to be damage and most of my hard work to be unsalvageable. I lost everything including my old means of making money (making beats, photography and graphic designing). Also there has been a big death in the family and most of my money has been going to them so I’m pretty much broke. Plus I just spent $1600 getting my car fixed.

Should I get a loan? The computer/laptop I would need to do all the things (coding, graphic designing, producing) would cost close to if not more than $1000 but it is my primary source of income. Or should I get a job and save up for a laptop. I live with my grandma now since my grandfather just passed away so much of my time is used taking care of her.

I know things could be way worse but my laptop has been my means of success for the past 10 years. I still have the assets and core design of my game stored away.
 

EndsExpect

Kingfisher
Isaac Jordan said:
Does anyone here have experience with targeted ads on Facebook, LinkedIn, Google, etc.?
(I know we have a Facebook Ads for Idiots thread, but I'm hoping some of you can provide feedback based on personal experience).
I run an investment service that can only accept accredited investors, and I know exactly who my target market is: older, educated, wealthy white-collar workers (doctors, lawyers, etc.) who have plenty of money but aren't good at trading/investing themselves.
As much as I hate to give money to Big Tech, I like the idea of targeting precisely the sort of prospect I'm looking for, especially because the majority of people aren't accredited investors and it would be a waste targeting to the masses rather than filtering for my very specific target market.
Has anyone used any of the major platforms for this sort of targeting? What's your experience been?

Yes, I have a relative that is crushing it with facebook marketing. He is focused on Real Estate, but has branched into a couple other fields. As far as I can tell he delivers 3 times the number of leads that Zillow does and at 1/2 the price. He is growing so fast that within 1.5 years he just hit $30,000 a month in recurring revenue.

His fee structure works like this... you give him $1000 and he puts $500 into ads and takes $500 to build the ads and manage it.

I would be willing to put you in touch with him, but I would want to talk to you first because he is a bit busy for people who can't make things happen. On the other hand... this might be a market he would be very interested in getting into.
 
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