Tag: scaling a business

1. Fail Well. You’ve heard it a million times before: ideas are easy; execution is hard. Execution is incredibly hard. And even if something works well for a while, it might not work sustainably forever. I fail a lot. I’d say my ideas are successful maybe 2/10 times, and that’s probably going easy on myself.

2. Keep Going. The difference between overall success and failure, is usually as simple as not quitting. Most people don’t have the stomach for point #1 and give up way too quickly.

3. Saying No. Especially if you didn’t have a particularly good month and it’s coming up on the 1st (bill time), it’s hard to say “No” to new income, but if you know it’s something you’ll hate doing, it could be better in the long-run to not take it or else face getting burnt out.

4. Work Smart (and sometimes hard). I would hazard to guess that most of us do this because we hate the limitations and grind of the traditional 9-5? Most of us are more likely to be accused of being workaholics rather than being allergic to hard work, but it certainly helps if you enjoy what you do. That said, it can’t be cushy all the time. Sometimes you gotta put in a little elbow grease.

5. Start Slow. I’ve helped many clients start their own businesses and I always try to urge them to pace themselves. They want instant results and they put the cart before the horse. Especially for online businesses, you don’t need a business license, LLC, trademark, lawyer, and an accountant before you’ve even made your first dollar! Prove that the thing actually works and is making enough money before worrying about all the red tape.

6. Slow Down Again (when things start to go well). Most company owners get overly excited when things start to go well, start hiring more people, doing whatever they can to pour fuel on the fire, but usually end up suffocating the fire instead. Wait, just wait. Things might plateau or take a dip and suddenly you’re hemorrhaging money.

7. Fancy Titles. At a certain stage of growth, egos shift, money changes people. What was once a customer-centric company that was fun to work at becomes more corporate by the day. Just because “that’s the way they’ve always done it” in terms of the structure of dino corps of old, that’s never a good reason to keep doing it that way.

8. Stay Home. If your employee’s work can be done remotely, why are you wasting all that money on office space just to stress your workers out with commute and being somewhere they resent being, which studies have shown only make them less productive anyway?

9. Keep it Simple. Don’t follow trends and sign you or your team up for every new tool or app that comes along just because they’re popular. Basecamp, Slack, Signal, HubSpot, Hootsuite, Google Workspace, Zoom (I despise Zoom), etc. More apps doesn’t mean more organization. Pick one or two options and use them to their full potential.

10. Keep Doors Open. While you’ll inevitably become too busy to say “Yes” to everything, try to keep doors open for everyone you’ve already established a beneficial working relationship with. Nothing lasts forever, and that might be the lesson I learned the harshest way of all. More on that below…

What I’ve learned in 20+ years of building startups: A personal note that might be helpful to anyone who’s struggling

Some years back (around 2015), we sold the company my partner and I built that was paying our salaries. During those years, I closed a lot of doors, especially with clients because I was cushy with my salary, and didn’t want to spend time on other relationships and hustles I previously built up over the years.

I had a really rough few years after we sold and the money ran out where I almost threw in the towel and went back to a traditional 9-5 job. I could barely scrape rent together and went without groceries for longer than I’m comfortable admitting.

There’s no shame in doing what you’ve gotta do to keep food on the table, but the thought of “going back” was deeply depressing for me. Luckily, I managed to struggle my way through, building up clients again.

What I’ve learned in 20+ years of building startups – Conclusion:

Navigating the world of startups requires a balance of resilience, strategic decision-making, and adaptability. The lessons learned over two decades in the startup ecosystem are not just strategies but guiding principles for sustainable success and growth in the dynamic world of entrepreneurship.

If you’re curious about how I make money, most of it has been made building custom products for WordPress.

Source: r/Entrepreneur

What I’ve learned in 20+ years of building startups – References:

1. Entrepreneurship Blogs and Websites: Look for blogs from successful entrepreneurs or business coaches. Sites like Entrepreneur (entrepreneur.com), Forbes Entrepreneurs Section (https://forbes.com/entrepreneurs), and Harvard Business Review (hbr.org) often have valuable articles on startup strategies and entrepreneurial journeys.
2. Startup Case Studies: Websites like Inc. Magazine (inc.com) and Fast Company (fastcompany.com) frequently publish case studies and stories about startups and entrepreneurial experiences.
3. Business and Tech News Websites: Platforms like TechCrunch (techcrunch.com), Business Insider (businessinsider.com), and The Wall Street Journal’s Business section (https://wsj.com/news/business) are good for staying updated on the latest in startup trends and business strategies.
4. Remote Work and Productivity Tools Blogs: For insights on remote work and productivity tools, check out blogs from companies like Basecamp (basecamp.com), Slack (https://slack.com/blog), and Zoom (blog.zoom.us).
5. Online Business Forums and Communities: Websites like Reddit’s Entrepreneur subreddit (https://reddit.com/r/Entrepreneur) or startup-focused forums on sites like Quora (quora.com) can provide real-world advice and experiences from various business owners.
6. LinkedIn Articles and Thought Leaders: Following successful entrepreneurs and business thought leaders on LinkedIn can provide you with a plethora of insights and firsthand accounts of business experiences.
7. Business and Entrepreneurship Books: Websites of authors who have written extensively on startups and entrepreneurship, such as Guy Kawasaki or Seth Godin, often have blogs and articles that are invaluable to entrepreneurs.

Examining the Fragmented Data on Black Entrepreneurship in North America

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• A tool to get you up to GPT4 Knowledge due to mentorship
  by /u/Alive-Tech-946 on May 8, 2024 at 8:28 am

  Recently, we launched Semis https://www.producthunt.com/posts/semis-from-reispar, from a problem I & my wifey personally encountered. To bridge the knowledge gap between mentees and mentors in AI & Big tech. If you were to launch this product to get 100 mentors in May, how would you go about it? ​ Product here: https://www.semis.reispartechnologies.com/ submitted by /u/Alive-Tech-946 [link] [comments]

• How to get myself do stuff I can’t find will to do
  by /u/FragrantMycologist42 on May 8, 2024 at 8:25 am

  I work 17-18hrs a day, M24. I work two jobs and earning handsome amount every month. This worries me as I know i cannot give much time to my family due to that and two jobs require so much effort that i feel exhausted, sleep deprived every day. I no longer find time to enjoy, travel, go to gym, sit with my family or friends. The only way out of this is if i start an online agency or business of my own. I have two-three ideas and a team with which i can execute this. But the busy routine halts my ability to pursue. Small pockets of convenience i find during two jobs and the weekends are moments where i can invest myself for this goal but i just cannot push myself enough to pursue it. Help me out here. What should i do to build the discipline it requires? submitted by /u/FragrantMycologist42 [link] [comments]

• Revolutionizing SME Finance with Free Stress Testing – Dive in Today!
  by /u/danonino80 on May 8, 2024 at 8:23 am

  Hello entrepreneurs, I’m excited to share something I’ve been working on, born from years in finance and inspired by the critical need for businesses to weather financial storms: Seasfy. What is Seasfy? Seasfy is a financial resilience tool designed to help small to medium-sized enterprises (SMEs) predict and prepare for financial fluctuations. Think of it as a health check for your business's finances, ensuring you can stay robust, come rain or shine. Why Seasfy? Having seen the effects of financial crises first-hand and the regulations imposed on banks to prevent future collapses, I realized the power of stress testing – traditionally a big bank tool – could benefit all businesses. Seasfy democratizes this capability, offering it free to start, to help your business anticipate and manage financial risks effectively. Try It Out For Free We've launched on Product Hunt today, and I’d love your feedback. If you're curious about how Seasfy can safeguard your business finances, give our free stress test a try. https://www.producthunt.com/posts/seasfy-building-financial-resilience I'm here for any questions about financial health, stress testing, or anything else you're curious about. How do you currently manage financial unpredictability in your business? Looking forward to your thoughts and a great discussion! Thanks for checking it out! Daniel submitted by /u/danonino80 [link] [comments]

• Fellow entrepreneurs, what are your biggest social media management struggles?
  by /u/usamaejazch on May 8, 2024 at 8:03 am

  Running a business is hard enough, managing social media on top can feel like a whole other job! What are some of the biggest challenges you face when it comes to social media for your business? Scheduling? Analytics? Keeping up with engagement? I'm curious because I'm working on a new social media tool called SocialBu (new version: 2.0), and I'd love to hear your pain points! Maybe I can help! submitted by /u/usamaejazch [link] [comments]

• I'm a big fan of Mr Beast & Colin And Samir, What Are Your Thoughts On Them As Entrepreneurs
  by /u/WhizPill on May 8, 2024 at 8:02 am

  If you're not nearly invested in the creator economy as I am this might fly over your head but for context these guys took the youtube game so seriously it became a contender against actual netflix shows it's impressive really what are 2 key aspects of what they do well can you personally pick up on? submitted by /u/WhizPill [link] [comments]

• My first launch on ProductHunt and I am super excited!!!
  by /u/UnemployedTechie2021 on May 8, 2024 at 7:44 am

  I am super excited! I have launched my free and open-source Python CLI tool Simone on ProductHunt today. Simone helps you create blog posts from your YouTube videos along with adding multiple context-aware screenshots from that video. - Find out more about Simone from the GitHub repo: https://github.com/rajtilakjee/simone - Here's the ProductHunt launch page: https://www.producthunt.com/posts/simone Don't forget to star it on GitHub and Upvote it on PH if you like the concept of Simone, or have used it yourself. submitted by /u/UnemployedTechie2021 [link] [comments]

• Which no code tool would you recommend for an advertising platform?
  by /u/shotsandvideos on May 8, 2024 at 7:37 am

  Hey guys I'd like to create an advertising platform that connects brands and creators. Specifically, I would like to develop a platform where a creator can download a media kit and an automatically generated affiliate tracking link belonging to one of the brands. Something similar to Paved, If you know what I'm talking about. Do you think a tool like Weweb would do the job? submitted by /u/shotsandvideos [link] [comments]

• more important
  by /u/SimilarIndependence- on May 8, 2024 at 5:21 am

  what’s more important , mindset or skill set and why? submitted by /u/SimilarIndependence- [link] [comments]

• Android vs ios market place
  by /u/AdOutside6690 on May 8, 2024 at 4:44 am

  Has anyone have any experience with Android vs ios app market place. (Eg: google play vs app store). I have heard that you generate more revenue from ios compared to Android. Wondering how much of that is true, plus your experience with the type of users. I currently have an app on google play store. Wondering if it is worth the hassle to publish it on ios to cater to a wider audience. submitted by /u/AdOutside6690 [link] [comments]

• 'hard' mining business
  by /u/sisainte on May 8, 2024 at 4:31 am

  Hello there. I'm curious to see if anyone in here have any experience or anything related about mining bussiness especially in mineral and rocks mining. I'm trying to gaining some insight. I live in one country in South East Asia. Many thanks submitted by /u/sisainte [link] [comments]

• Keep moving the needle. No. Mater. What.
  by /u/AC12Ted on May 8, 2024 at 4:26 am

  Solo tech founder. SaaS. Bootstraped. Two years for pmf. Got fired from day job. Defaulted on loans. Living off the drips of savings. Family man. Lost a parent. Pile of stress. Got my 2nd PO last week. It's tough. Dark. Mind taxing. Keep moving the needle no matter what. submitted by /u/AC12Ted [link] [comments]

• New and want to Improve
  by /u/ags337 on May 8, 2024 at 4:18 am

  Hi there. I am currently a Student (Upgrading as of right now and want to further go into IT). I wanted to see if anyone out there would like to hire me as of right now for any of their needs such as Mangements, Emails, Marketing, and other technical needs, basically being a assistant and taking care of stuff. Give me a DM for more information about me. I see that a lot of people are on this Reddit page and don’t seem to be wanting any help, as a person who has been in a agency, I am willing to work with anyone submitted by /u/ags337 [link] [comments]

• Wasted my 2 years and $220k
  by /u/AppAlloy on May 8, 2024 at 3:39 am

  I am Peter, CEO of Unstatic. I have built 7 startups in the past 9 years, and the most successful startup is Habitify (https://www.habitify.me/) - a habit tracker started in 2015 (now 2.6M users, $100k MRR). After the success of Habitify, we believed that we had a strength in mobile app, so we want to dig deeper into this area. This led us to the decision to build Starion - A nocode app builder (https://starion.io/). Starion allows non-tech people to build apps easily and intuitively. How Starion went We finished feature by feature, fixed bug by bug. The product was improved significantly after a relatively short period of time. We released some versions, got some milestones. However, little did we know, all those milestones led us to a dead end. What we did wrong In order to make a project work, we need to consider: Target customers Their pains Our painkillers But we solely started from our ideas and assumptions without planning thoroughly. We thought we built for non-tech people, but we ended up bringing Typescript into the product. We thought our product was simple enough, but some people (including developers) did not know how to start building an app with Starion. We thought our product was the solution to build apps with nocode, but we could not articulate the problem clearly to begin with. Our team spent almost 2 years building into the void, without having any source of revenue. The way out After a period of no success, I decided to rethink the strategy with my team. My philosophy “Just build a good product, it will sell itself.” might need a re-consideration. It’s not wrong, it just needs some changes. Big time. AppAlloy came to life (https://appalloy.net/). "A good product is not determined by the builder, but by the user." With this mindset, we distributed the idea to the market before even building it. We dived into communities, utilized personal networks, asked non-biased questions. And we realized: Users really care about convenience Small wins are important, make it happen fast The product experience should be much more simple So we shorten the flow down to only two steps, based on the core principle of an app: DATA Now, customers just need to insert the data, we do the rest. Apps are created without any initial customization. Users have their fully functional app as a small win, then they can further customize it later on. The UI is clear and direct, guiding people to certain steps. Big lessons learned - One, do not assume. The market is more diverse than what you know. Build a product, bring it to the market. Gather real feedback. - Two, you succeeded once, doesn’t mean you will the next time. We tried so hard and were successful with Habitify. Hard work is crucial, but luck is vital as well. Succeeding with one startup cannot guarantee your next success at all. - Three, you failed once, keep trying, cuz your success might be right around the corner. What we can control is our actions. What we can’t (fully) control is the outcome. You are just one action away from your success. Keep going. To all entrepreneurs out there, we’re all in this together. Don’t lose sight of your dreams. Thanks for reading. What do you think we could do differently? submitted by /u/AppAlloy [link] [comments]

• Rich dad Poor dad
  by /u/Cool_Syllabub on May 8, 2024 at 3:29 am

  I will admit that ive read this book a few times and feel like it has motivated me to want to better my financial health. Ive done some research on kiyosaki and found he’s a fraud as well as giving bad advice in his book. I have some other books on economics and a book on investing ive been getting into but was wondering if anyone had a book they see as there bible for entrepreneurship or just even “getting rich”. I like reading if its knowledge I can genuinely apply to my life. A couple of books I really like are by an author ryan holiday ego is the enemy and perennial seller. Thanks! submitted by /u/Cool_Syllabub [link] [comments]

• I have 6 months to build interest
  by /u/AngryBowlofPopcorn on May 8, 2024 at 3:00 am

  My wife and I created an activity book for kids ages 6-10. We’re getting 1,000 copies made and planning on launching on our website and Amazon November 1st. What specific things should we do to build interest from now till then? Our plan is: -blog posts proving value -many social media posts starting 3 months out (wife thinks it’s pointless to start posting now when we don’t have samples) What would/did you do to build an audience that cares? submitted by /u/AngryBowlofPopcorn [link] [comments]

• Remember The Promises You Made To Yourself.
  by /u/jordon809 on May 8, 2024 at 2:47 am

  If You're Not All In, You're All Out. Commit To Your Goals Fully and Remember The Promises You Made To Yourself. submitted by /u/jordon809 [link] [comments]

• What is more important as a Solo Developer?
  by /u/Abood-2284 on May 8, 2024 at 1:37 am

  I have been thinking this quite lately, after failing with my 7+ businesses. They failed fast, so the learning was little-nothing. I am building a next thing, so what should be my approach here? Fail Slow, Fail Big ( Obsessed over Quality Shipping ) OR Fail Fast, Fail Small ( Obsessed over Quantity Shipping ) submitted by /u/Abood-2284 [link] [comments]

• What skill do you want to learn?
  by /u/Busy-Composer-8456 on May 8, 2024 at 12:26 am

  What skill do you want to learn or improve, and why? I'm curious to learn which area you’re trying to get better at, how are you going about it, or slacking about it. submitted by /u/Busy-Composer-8456 [link] [comments]

• Experiences with brand ambassadors
  by /u/UpvoteBeast on May 7, 2024 at 8:51 pm

  We are developing a platform the helps small businesses connect with brand ambassadors and manage transactions and agreements so that they can grow their brand cost-effectively and with minimal effort. Usually, these transactions are done through email or another messaging platform so I thought that having a dedicated platform that helps both sides through the process would be quite beneficial. I wanted to hear from anyone who has had experience with this and get to know what pain points they had with the process and what parts they found super beneficial? And if they had a platform that could help them with this process, what would it have to do for you to pay a subscription to use it? And as for those who haven't had experience with these transactions, would you try it? If not why? This is for my market research before I start investing time and money into developing this platform, I hope to hear back. Here is the product if anyone is interested. Thank you! submitted by /u/UpvoteBeast [link] [comments]

• My 9-5 pays $2000 monthly. Methods to match that income:
  by /u/Big-Leave3759 on May 7, 2024 at 8:40 pm

  What are ways to make $2000 a month? Everything counts submitted by /u/Big-Leave3759 [link] [comments]