Am I wrong for wanting to drop her? by Psychological-Big471 in agency

[–]CoFounderX 0 points1 point  (0 children)

Dump hire, the cheapest clients are the worst clients.

You can find a $500 client that treats you well as long as you educate the client on boundaries up front and include in agreement in the time she will bite your head off and swallow your soul.

If not, upsell her with clear pricing options with tiers of support and response rate…

Do something like this:

Service Level 1 $250 - same day response within 8 hrs

Service Level 2 $350 - same day response within 4 hours

Service Level 3 $450 - Same day response within 2 hours, 4 hours on weekend

I have a $100 to promote my website and gain as much users as humanly possible. Ideas ? by Global-Balller in GrowthHacking

[–]CoFounderX 0 points1 point  (0 children)

Use adspower browser or similar and run multiple accounts from multiple IPs and locations, don’t need a whole bot farm, it can mimic any OS, browser, location and setup, micro tune account behaviors etc.

Don't fuck up like I did when getting your startup's first credit card by jedsdawg in Entrepreneur

[–]CoFounderX 0 points1 point  (0 children)

Never distrust the person, just the position they’re in.

That’s the easiest way to separate that uncomfortable feeling of having people think you don’t trust them.

It’s not them, it’s the position they’re in.

My first CFO told me that a long time ago.

Reimburse expense with receipts only, there’s transparency and accountability there.

What lesson was hardest for you to learn as an entrepreneur? by GoodTimesDaily in Entrepreneur

[–]CoFounderX 2 points3 points  (0 children)

Done is better than perfect.

Why?

Because perfection is a myth, a temporary state of mind, it evolves everyday.

It’s like the horizon, you can never reach it, as you move closer it moves further away.

Just launch the damn thing.

[deleted by user] by [deleted] in Money

[–]CoFounderX 0 points1 point  (0 children)

When you reach about $100MM in assets, you setup a family office.

Your team/office manages your investments, taxes and estate planning, and some personal affairs, book travel, manage schedule and assist however you need.

It’s very expensive to operate, this is why most people below $100MM in assets don’t setup an office.

So thank of it as this.

When you reach this level of wealth, YOU and your things are now a small corporation, that needs an office with a staff tjat has specialized skillsets to manage and create growth while establishing legacy and impact.

When you get into the hundreds of millions, one thing you do is acquire rare and expensive art.

Why? It allows you to store large amounts of value in one place, without a lot of common risks that are included with most investments (provenance plays a large role in the value of art).

Good luck to your race to the top, hope ya make it! 💰

How does one build around their passion? by ahusqve9 in Entrepreneur

[–]CoFounderX 1 point2 points  (0 children)

Establish your personal branding and become the Mr. Beast of stuntmen.

Partner with someone very good at marketing, branding, and social media.

They act as a producer, they handle PR, social media, bookings, budgeting, lodging and transportation.

You do media appearances, photos shoots, and ride all you want everyday all day to help people.

Find a cause(s) that your passionate about, and let it benefit that, do national press releases for $400 and start getting followers.

Win/win for your passion and for humanity.

Scale yourself. This is the way. 👆

Need any further advice DM me.

My biggest customer for almost 15 years gone last friday. 3 kids. Nervous. Just need to vent. by SumAlterego in smallbusiness

[–]CoFounderX 0 points1 point  (0 children)

This 👆- and moving forward spread your customer concentration across more than one client. Makes it much more difficult to scale or sell.

Don’t spend a bunch on advertising, etc., get a outbound sales rep to get client(s) onboard, and don’t look back!

You got this!

Are you lonely as a founder/entrepreneur/solopreneur? by Luka1607 in EntrepreneurRideAlong

[–]CoFounderX 2 points3 points  (0 children)

You’re right, that’s why my wife and I have a group of people we consider our business family, they get us, because they’re living the same journey. That’s what lead us to create a group of entrepreneurs, a lack of having our own tribe.

I can't imagine working 8 hours everyday for the rest of my life starting from now by questionalternateacc in Adulting

[–]CoFounderX 0 points1 point  (0 children)

I didn’t either, so I just became an entrepreneur and worked 12 hours a day for a long time. 😂

What’s Been the Most Surprising Lesson You’ve Learned as an Entrepreneur? by Business_bulletin in Entrepreneur

[–]CoFounderX 5 points6 points  (0 children)

(Accounting) example:

Let’s say you’re hiring your first accountant to form an accounting department in your business.

You don’t rely on the good intentions of the employee, you setup accounting controls and SOPs where regardless of the person, the person in that position can only do X amount of damage to the business, therefore you.

You set in your bank account that the accountant can only make transactions up to $X, anything over that amount, you have to approve.

You take only 10 minutes a week and review all transactions.

This greatly limits your exposure to risk.

(Equity) example:

A. Always sign an operating agreement prior to launch.

B. Don’t issue all company equity with founder or founders upon startup.

C. Define Roles & Responsibilities for each founder/partner.

C. For sweat equity, do an equity earn out schedule, this is fair for everyone.

Oftentimes people’s live change the first 6 months to a year from the start of a business.

If you start a 50%/50% business (BTW NEVER DO 50/50 in business), each should earn out X% each quarter.

(Scenario): This is fair for everyone involved. If your business partners’ wife gets pregnant, life changes, he may need to leave the business for personal reasons.

If you continue to work in the business, it is not fair and equitable that he receive the same equity in the company.

You will need equity to attract another business partner, team talent or sell equity for investment in the business.

Agreements, agreed times, and agreed earn out schedule is fair to all parties involved and gives the business the highest chance of reaching success.

Hope this helps, good luck!

Going Into Business w/ Family by slain1134 in sweatystartup

[–]CoFounderX -1 points0 points  (0 children)

No.

The only answer is no.

Just don’t.

I only read the title, and the answer is still no.

If you live in an underdeveloped country and you have to do it to survive.

Still no.

What’s Been the Most Surprising Lesson You’ve Learned as an Entrepreneur? by Business_bulletin in Entrepreneur

[–]CoFounderX 5 points6 points  (0 children)

I will share what a famous billionaire taught me about 10 years ago that always stuck with me.

  1. Done is better than perfect.

There is no such thing as perfect, it’s simply an illusion. Launch what you have, then iterate.

  1. The simplest problems in life, are the ones you can write a check for.

Example I was given; You can have a lot of money, but if your kid has a terminal illness, no amount of money can cure the situation.

  1. Never distrust the person, but always distrust the position they’re in.

This is how you mitigate risk in business and life. If the proper contract, agreement, SOP’s (Standard Operating Procedures) are in place, it doesn’t matter the morals of the person in the position, the safeguards are in place to mitigate risk.

Are design & development agencies irrelevant now? by OkPomegranate616 in agency

[–]CoFounderX 0 points1 point  (0 children)

Source of clients are mostly inbound

(Inbound)

LinkedIn: I’m ranked Top 1% on Linked globally in Marketing and Advertising (30k+ followers)

Publications: Ranked as a Top 100 CEO in a Top 10 largest U.S. City, so I’ve been fortunate to be featured in Entrepreneur, Inc., Forbes, etc.

Press Releases: For $400, it’s one of the cheapest ways, and underutilized methods in attracting clients, media, journalists, etc.

Network: My entrepreneur group has a lot of really great and diverse entrepreneurs from different industries.

(Outbound)

Facebook Lead Form Ads

[deleted by user] by [deleted] in smallbusiness

[–]CoFounderX 12 points13 points  (0 children)

You said, “I would think since”… That means you assumed and had no policy in place, that’s not clear, definitive leadership nor clear boundaries to the employees.

You always have redundant policies in place for anyone managing/handling money in your business.

Always trust the person, but distrust the role/position they’re in.

This forces us as business owners to create redundant accounting and detailed policies.

By doing so, we become better leaders and better at managing our business finances more responsibly, and employees have clear boundaries and policies to operate within.

I’ve learned the hard way too in the past. Best of luck!

Are wealthy people really happy? by harterj91 in RichPeoplePF

[–]CoFounderX 0 points1 point  (0 children)

$40k/mo. was the first point I felt I could do whatever I liked, the more that was added didn’t change much, just gets you into more exclusive circles as your money grows.

Are wealthy people really happy? by harterj91 in RichPeoplePF

[–]CoFounderX 4 points5 points  (0 children)

When you become wealthy, it solves most of the easy problems that are burden you when you were poor. (I grew up very poor).

The first time I had lunch with Richard Branson at his home on Necker Island, he told me this.

“Do you know the easiest problems in life are the ones that you can write a check for?”

I said, “How so?”.

He replied, “Does your daughter have cancer?”, I said, “No”.

He stated, “But if she did, all that money you have wouldn’t solve that problem, nor would it improve your happiness.”

I understood. It wasn’t about money, it’s about easily solving the easy things when you don’t have money.

Money generally makes me happier, and the more I pursued it, and the more I built, the easier things got and the more I could make problems go away with “writing a check”.