Thread: Entrepreneurial Journeys

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  1. #1 Entrepreneurial Journeys 
    Registered Member Andrew's Avatar
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    Hello everyone!

    I'm Andrew & I've been a member here for a while. I just finished college & will be receiving my diploma this Saturday, the 20th of May. I'm making this thread to begin discussions with the community in-regards to entrepreneurship. Whether most of the community realizes it or not, anyone whom has hosted a server, worked on a project, sells graphic designs, & freelances is an entrepreneur in some-way shape or form. I personally believe entrepreneurship is really seeing explosive growth in today's time, especially with all of the technological advancements we have been experiencing. My idea for this thread was to begin discussions & journeys with members of the community for their entrepreneurial ideas & projects. This could range anywhere from RSPS related, to Freelancing, to Software Development, to even Consulting. I believe that a thread like this would be really useful for anyone looking for insight, feedback, general topic discussion, etc. Hopefully if this gets popular enough we could devote a section to entrepenuership!

    A little about myself:

    I am graduating with a BSBA in a concentration in Finance & a minor in Psychology. I am hoping to do something related to behavioral Finance/Economics or investment banking, with a specialization in technology. I've self-taught myself multiple topics, such as: investments, physics, natural philosophy, programming (swift, python, js, html/css), & other areas. I am truly in the mind-state of entrepreneur, and am trying to become financially independent (meaning not having to work for someone else) within a year. I am currently working on a couple projects/developing ideas of mine that are related to the following: Mobile-Application, Education, e-Commerce, Consulting Agency, & others. I think what is beautiful about entrepenuership is breaking your ideas into small goals and trying to build off them. If as an individual one could generate $5k per month, then that would correlate to income of $60k per year, which would allow an individual to live financially independently (in-terms of not having to work for someone else). I'm really hoping that this thread kicks off, and would love to hear people's ideas, insights, and thoughts on a wide-range of topics.

    I will start off a bit:

    - I am currently working on an agency where I will be approaching small businesses in my state, and attempting to convince them to allow me to take over their social media marketing. Now for this I don't mean just post on their accounts & deal with customers; but actually take over a part of their marketing budget for SMM. FB, Google, & Instagram, allow for precise targeting with users, and many small businesses have not gotten into the Social Medial world yet, this is a great opportunity to begin, and many people have already begun working with this idea. I'm really hoping this kicks off, and will keep an update on this.

    - I am also working on a Social Media Mobile-Application, that I hope will kick off, while I can't get into details about it yet, I'm hoping to have an open beta for users by the mid-June at the latest, if everything goes accordingly.

    Remember, anything is fair game for this thread, don't hesitate to put your thoughts on this threads; and always keep in mind that we can build-off each-other & learn from one-another. Please refrain from flame & spam. It is okay to disagree & give constructive criticism, just not in a harsh manner!
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  2. #2  
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  3. #3  
    What's a sundial in the shade?

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    Best of luck, the social media platform seems interesting, I was thinking about that the other day.

    I personally would like to see a new social media that has the things people are addicted to in Facebook,
    but also has the customizability of 'GaiaOnline' or Old 'Myspace', HTML/CSS, freedom of username, etc.

    Spoiler for Revy is perfect:
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  5. #4  
    Registered Member Andrew's Avatar
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    Officially received my diploma today! The road to success is just beginning!
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  6. #5  
    love

    scoob's Avatar
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    Quote Originally Posted by Andrew View Post
    Officially received my diploma today! The road to success is just beginning!
    Congrats!
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    Registered Member Tynn's Avatar
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    Grats Andrew on the Diploma, I think you just should get started
    Doesn't matter what kind of business you want to start, as long as you will love it

    Quote Originally Posted by Saint View Post
    lmaooo
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  10. #7  
    Registered Member Andrew's Avatar
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    Bit of an update-

    - I've been working on my app lately & making some good progress
    - I've enrolled in a couple udemy courses to begin learning about A.I. & M.L.

    Anyone who has familiarity with A.I. should def. check this out https://openai.com/research/#releases (Elon Musk is the man)
    - Also check out Udemy, as they have a sale that ends in 17 hours, where everything is $10
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    Registered Member Andrew's Avatar
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    https://developer.apple.com/machine-learning/ Just came across this today, hopefully I'll be able to apply what I learn in these Udemy courses on A.I. into an app!
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  12. #9  
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    Greg's Avatar
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    "entrepreneur"
    "working on a couple projects"

    In my opinion these two things contradict each other.

    The top entrepreneur's have multiple companies because they've built them out over time, delegating processes to the point where each requires very little attention (Read 4hww). But none of them started by running multiple companies; they all started with one.

    Attempting to run multiple companies means your time is split and your resources are spread thin. In the end all but one of your projects will burn and fail and if you're lucky one will succeed however that one will be significantly be behind where it might be if you were to give it 100% attention now and drop the rest. Do it linearly focus 100% on one, if it fails start on the next. It's the same as multitasking, people claim they do it but in reality they just inefficiency flit between different things never being able to pay 100% attention to any one thing and end up failing at all of them.

    Same goes for people who want to become a jack-of-all-trades, go niche or go broke.

    Also recommend reading into minimum viable product, this is one I personally need to apply; if you're not making money or gaining future potential customers (interest) within the first week, you should stop. "not ready for release" and inaction is a cancer that will ultimately lead to failure.

    Watch Gary Vee if you haven't come across him already.

    Good luck
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  14. #10  
    Registered Member Andrew's Avatar
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    Quote Originally Posted by Greg View Post
    "entrepreneur"
    "working on a couple projects"

    In my opinion these two things contradict each other.

    The top entrepreneur's have multiple companies because they've built them out over time, delegating processes to the point where each requires very little attention (Read 4hww). But none of them started by running multiple companies; they all started with one.

    Attempting to run multiple companies means your time is split and your resources are spread thin. In the end all but one of your projects will burn and fail and if you're lucky one will succeed however that one will be significantly be behind where it might be if you were to give it 100% attention now and drop the rest. Do it linearly focus 100% on one, if it fails start on the next. It's the same as multitasking, people claim they do it but in reality they just inefficiency flit between different things never being able to pay 100% attention to any one thing and end up failing at all of them.

    Same goes for people who want to become a jack-of-all-trades, go niche or go broke.

    Also recommend reading into minimum viable product, this is one I personally need to apply; if you're not making money or gaining future potential customers (interest) within the first week, you should stop. "not ready for release" and inaction is a cancer that will ultimately lead to failure.

    Watch Gary Vee if you haven't come across him already.

    Good luck

    I've watched/read plenty of Gary Vee, Tai Lopez, Tony Robbins, & at the end of the day, they are all motivational speakers & have only gained a following due to paid advertisements through social media marketing. Which is not bad by any means, as that's what I am attempting to do with small businesses. However there are many errors to what have made claims to. Working on projects as well as being an entrepreneur does not necessarily mean you spread yourself thin & they certainly aren't mutually exclusive, it's all about time management. I highly suggest http://gsl.mit.edu/media/programs/so...rials/0to1.pdf for a read if you are interested. Also " if you're not making money or gaining future potential customers (interest) within the first week, you should stop. " is nearly impossible, especially because sales are dependent on industry & product or service that you provide for an individual or a company. If you are a software company, it will be nearly impossible to program an entire full scale operation within a week & sell it, if you are trying to have an e-commerce business, odds are you will not be able to generate profits within a week, as it requires time to break-even depending on how high your marketing budget is as well as your outreach. That is where concepts such as lean start-ups & MVPs come into play. I recommend this book for your reading: http://www.stpia.ir/files/The%20Lean%20Startup%20.pdf Also in regards to stick with a niche, that is also not always the case, especially when it comes to growing a business that will eventually turn into a conglomerate . The best business is not a niche, but a business that only operates in niches , meaning multiple revenue streams from niche products. If you can generate enough income from a variety of incomes; then that is great & extremely possible given the digital age that we are currently living in, multiple revenue streams are key to financially freedom in today's time; & is much easier with concepts such as drop-shipping, boxed services, freelancing, etc.. The beauty of entrepenuership today, especially if you want to deal with products, is everyone has the same opportunity to find suppliers to create products. You can just go on Manufacturers, Suppliers, Exporters & Importers from the world's largest online B2B marketplace-Alibaba.com & find a manufacturer, which comes in to play, where you will not generate a profit in a week. When it comes to speakers, I listen to primarily CEOs of successful companies; my favorites are Elon Musk, Jack Ma (CEO of Alibaba), Zuckerberg, Gates, & I love listening to Buffet. Gary, Tai, & all those motivational speakers just don't do it for me, they have some good pieces of advice from time to time, but at the end of the day, they are just a marketing agency at their roots. Also in regards to an "entrepreneurs" & "working on multiple projects" contradicting themselves, that is absolutely not the case. True Entrepreneurs focus on personal development, growth, & impact. No one idea, product, or service can achieve that. In-order to grow you need to always be progressing & staying to date with the time & market. Steve Wosniak, when he co-created Apple, was working a 9-5 (to have income) while working on Apple as side-project; 35 years later, Apple is the #1 company in the world with a marketcap of 750B+. You always need to have streams of income to be able to sustain your long-term goals. In terms of how I am working towards my goals, I am focusing in on software for data-science & app development (with my social media app); as-well as consult for others to be able to generate streams of income to support yourself, as supporting yourself is key, as well as being frugal with your expenses. I'm hoping to be able to combine an A.I. into a personal development application once I finish my courses & during all of this I am applying for financial investment positions (hoping to for an investment associate at an investment bank).

    Also some great books to read for entrepenuership http://alltopstartups.com/2015/10/22...tartup-ebooks/ && a book called the 10% entrepreneur is also a great read
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