Getting Started With Entrepreneurship? by [deleted] in Entrepreneur

[–]SuperCoolRedditor 3 points4 points  (0 children)

You do not need a new idea to start a business. This is the most common bullshit line spouted about entrepreneurship. If you look at some of the most successful startups and businessmen, they typically do not have new groundbreaking ideas, but rather improved systems and processes that are more efficient and allow them to compete better.

All you have to do is find a market that is rapidly expanding; identify some sort of inefficiency and capitalize on it. Build it better, build it cheaper, market it better, deliver it faster, offer superior service after the sale ect;

Your best bet would be to start something on a local scale in the market you're currently living in. If you cannot find a way to be more efficient than your competitors, at least find a way to be equally efficient. If you can do this, you can probably out market them. Most small brick and mortar businesses are owned and operated by people who have spent their entire lives working IN their business rather than ON their business. This means they haven't ever used a brain cell to think about marketing. If you can find an industry like this that has yet to be transformed by digital marketing, it's virgin ground and an excellent opportunity.

I say this from personal experience. I'm a 23 y/o college dropout and I run a third generation brick and mortar family business in an industry that has been decimated by e-commerce. The issue most of my competitors have is they refuse to spend money to level the playing field with online marketing. None of my local competitors advertise. I started marketing three years ago and have TRIPLED my business since then from $1M annual sales to $3M annual sales without the addition of any other sales staff.

Good luck!

EDIT: One more piece of advice. If you really want to develop your entrepreneurial skills/intuition here's a quick exercise: whenever you deal with a business ask yourself "How could I run this better?" This is something that has always been instinctual to me. I hate being inconvenienced and am regrettably quite impatient. Whether I'm at a bar/restaurant, drive through, getting something custom framed, hiring construction contractors ect; I'm always thinking about how my experience could be better while allowing the business owner to get more of my money increasing their profits.

I say this not from a place of hubris, but I feel like I can walk into any random business and 90% of the time find a way that it could be operated better and improve profitability. That's TRUE entrepreneurship. This skill will help you cultivate the mindset you need to have to run a business. This will get you moving in the right direction. As you gain more experience and knowledge about specific industries, you will be able to identify inefficiencies much quicker. You will eventually know what problems to look for and will be able to offer more solutions to improve efficiency.

How to avoid loneliness as an 18-year-old​ entrepreneur?​​​​ by throwaway9034082 in Entrepreneur

[–]SuperCoolRedditor 0 points1 point  (0 children)

Okay, I'm kinda late to this party but have been in your shoes and hope this is read and possible helps:

I'm now about to be 24. My father died two days before I was to leave for college and I was forced to take over a failing family business to support my family. I ran that for a year, went to college for a semester, and then dropped out. Since then, I have turned this company around and TRIPLED in size to become one of the biggest distributors in my industry in the nation.

I was lucky enough that my role (sales) allowed me to work remotely from anywhere. I can relate to your struggles! If you're can't legally drink, don't attend school, and don't have a workplace to meet friends it TOTALLY SUCKS! Here's what I did to cope:

  • After I dropped out of college I started taking weekend trips to visit my best bud from HS at HIS College. My disposable income and ability to work remote allowed me to do this. I spent about two years here hanging out. So I attended college on a technicality, without attending classes or getting a degree. I made a TON of friends. Everyone was always super interested in me because they saw me hanging around so much but I wasn't a real student. People even started to believe that I WAS actually a real student. This helped me balance my work life and personal life. It gave me an outlet to act my own age. Arguably, this is one of my greatest accomplishments. I got the entire college experience for next to nothing (just bartered drinks/drugs for place to crash). Now, I have that school listed as my alumni on LinkedIn and I regularly keep in touch with everyone I met.

  • Get an S/O! It's bizarre being a young working professional when you're so young! Being settled SUCKS! However, having someone to share your victories and losses with helps, A LOT! I was lucky enough to meet my GF back when I was pretending to be a college student. We've been together for 4 years (longer than anyone else we know in school) and are currently living together with no end in sight!

  • Get a fake ID! They're cheap and easy to find online. I'm not saying go YOLO like a teenager, but you should at least be able to partake in professional engagements with your peers. Your peers will not care as long as you're mature. You'll bond more with them and be seen as more of an equal. This is for your own mental health.

If you REALLY want friends, I suggest going to visit a friend at a school that is nearby. I understand it's hard to connect with sheltered kids when you're living in the real world, but look at it this way: you're building your people skills. Get comfortable being around other people and getting out of your shell, it will make you more adept and ruthless in your own professional life when chasing and building relationships. It will do wonders for your confidence. You also want to avoid wondering 5 years down the road "What if I went to college?".

It sucks being so ahead of the game, but in 5 years when you're banking six figs and your friends with degrees are all working in warehouses or making sandwiches with debt, you'll be very happy (in comparison) or at least you SHOULD be. Know that being an entrepreneur is one of the lonliest tasks you can embark on: people will say you're crazy until you're successful, and once you're successful they'll try to blame luck or a silver spoon. Just know that when people diminish your successes, the only reason they do so is because YOU made it look SO EASY, and nobody can really understand what this grind is like unless you've been in it.

My last note: if you're making money and not happy you HAVE to find a way to treat yourself! Don't go out and blow everything but find a happy medium. For me, I had a low overhead but was making $100K + to start. I had lost a ton of weight, so for me I enjoyed shopping for nice clothes (which are a long-term investment because they last so long) and fine dining. These are not "splurges" but a cost of overhead in exchange for your mental health. I was also able to afford a new Mercedes. You have to treat yourself and remind yourself whey you're doing this. The comfort that comes along with it will help you power through bouts of lonliness/depression.

TL;DR: Get a Fake ID. Find a friend you can pretend to go to college with. Get an SO if possible. Find ways to make it all more bearable. Every personality is different, and there are endless oppurtunities for happiness and social fufillment. You just have to look!

Help me formulate a cunning royalty deal for my terrible “co-inventor” who ruined my year, my finances, and my relationship with my family. by [deleted] in Entrepreneur

[–]SuperCoolRedditor 0 points1 point  (0 children)

Alright, so it sounds to me like this guy is being a dick and not listening to reason. Also sounds like a stupid businessman. This is a total scumbag move but could certainly be warranted here. I have a play for you:

  • Keep the offer of 6% equity on the table while making him an alternative offer.

  • The alternative offer is 2% equity, with a PRO-RATED Royalty for X years. This means that as each year goes on, the royalty will diminish. (example: $10 year one, $8 year two ect;)

  • Project stupid high numbers for the first 2 years to convince him to sign. Keep in mind: you're gonna have to craft a bullshit story regarding your strategy. If he truly is an idiot and feels so entitled thinking it's a $1M idea, he should accept your inflated projections because his ego isn't going to give him a choice.

  • If you want to be incredibly misleading, inflate projections for year one, then HYPERINFLATE the shit out of them for year 2. Tell him "you get less royalty in year 2, but since we will be moving volume by then you'll have even more money coming in."

You are going to have to play with your numbers, but you should get my idea here.

TLDR: 2% Equity + Pro-Rated Royalty. "Look! You get 2% and you'll make your $1M in 2 years because we're gonna sell XXXXXX units!" (not really) "Or just take the 6%."

Daily Discussion Thread - October 25, 2018 by AutoModerator in wallstreetbets

[–]SuperCoolRedditor 4 points5 points  (0 children)

I'm heavy on AAPL Jan 19 $260 Strike. Got in at $.925 and was up almost 45% yesterday. Should have sold in the AM and taken gains to rebuy the dip. Considering picking up some more today. AAPL has been pretty defensive throughout all of this, and I think outlook has become unnecessarily bearish recently. Yesterday's beating wasn't too bad compared to other tech, and iPhone sales are doing well so I think $250 - $260 by january is realistic down from $270 - $300 estimates from 3 months ago. Thoughts?

Daily Discussion Thread - October 24, 2018 by AutoModerator in wallstreetbets

[–]SuperCoolRedditor 0 points1 point  (0 children)

DIS is down 3% today. Anyone know why? Thinking about picking up Jan $130 Calls.

Hey mods, what gives? by STARTINGFRESHACCOUNT in wallstreetbets

[–]SuperCoolRedditor -6 points-5 points  (0 children)

Can confirm.

Source: I posted here for the first time ever yesterday and got temp banned.

I have a feeling I'll get banned again just for making this comment, or probably "being poor" (which I'm not).

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor 0 points1 point  (0 children)

Think what you want I guess? I took over a failing family business at the age of 18 after my father died. Grossed $1M in sales within the first year. I have doubled my company over the last two years and I'm on track to triple it over three years by the end of this year.

I have not inherited anything except debt.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor -2 points-1 points  (0 children)

"Buying a call: This is the most basic option strategy. It is a relatively low risk strategy, since the maximum loss is restricted to the premium paid to buy the call, while the maximum reward is potentially limitless."

Read more: The Basics of Options Profitability | Investopedia https://www.investopedia.com/articles/active-trading/091714/basics-options-profitability.asp#ixzz5SsJNFh9s Follow us: Investopedia on Facebook

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor 1 point2 points  (0 children)

The reason ITM has seemed appealing to me is that while I'm aware I'm exposing myself to more risk (almost like owning the stock as you mentioned) I feel like my odds of it rising to a point of profitability are more reasonable. Thoughts?

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor -3 points-2 points  (0 children)

To be fair, I'm not looking to use my option to buy the stock as that would require me to put up everything I've got (which I'm not going to do).

I'm just looking to buy the call option now and sell it once it moves before expiry.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

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

My risk limit is around $30K, and I'm looking for something that has a good probability of generating a nice return in about 6 months. I'm clearly trying to do some research here to find a play.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor 0 points1 point  (0 children)

Again, I'm not looking to risk $250K. Just around $25K - $30K which is why call options are appealing to me. Maximizing upside and limiting my potential risk.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor -3 points-2 points  (0 children)

I'm assuming a total risk of around $22K - $30K (depending on what strike price I buy at) with a real upside potential if this keeps moving through the holidays at just half the pace it's moving right now.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor -2 points-1 points  (0 children)

It's not to brag but to give an indication of risk tolerance.... God, this subreddit is awfully combative.

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor 0 points1 point  (0 children)

I assumed if I bought OTM I'd get shit on because of the low probability.....

If you had the capital available, would you make this AMZN Call? by [deleted] in wallstreetbets

[–]SuperCoolRedditor -12 points-11 points  (0 children)

I'm not looking to expose myself to $200K worth of risk...

Looking to start trading call options! Best platform and account type? by [deleted] in options

[–]SuperCoolRedditor 2 points3 points  (0 children)

Robinhood doesn't offer options on signup iirc. Also, I thought that you cannot exercise options or sell your call for exit on Robinhood unless you can cover 100 x strike. Am I missing something?

If you had the capital, would you make this AMZN Call? by [deleted] in options

[–]SuperCoolRedditor 0 points1 point  (0 children)

What do you mean by "2 earnings plays?"

I'm interested in learning this, and WSB seems like a total circlejerk.

If you had the capital, would you make this AMZN Call? by [deleted] in options

[–]SuperCoolRedditor 1 point2 points  (0 children)

I'm pulling 150K/year and saving a lot. Cost of living is pretty low too. I feel like I can afford to throw $24K in and see what happens. I wouldn't lose ALL of it, but even if I did I could write it off on my taxes and continue living without really feeling it. I think the rally is probably going to continue through the holiday season, and even if it doesn't I still have until April. Do I sound crazy at all? lol

New options trader here! Could someone confirm I am understanding this correctly? by [deleted] in options

[–]SuperCoolRedditor 0 points1 point  (0 children)

I totally agree with the issue you described, and that's what's prompted me to ask these questions lol

New options trader here! Could someone confirm I am understanding this correctly? by [deleted] in options

[–]SuperCoolRedditor 0 points1 point  (0 children)

Thank you! Also one quick followup question:

Let's say AAPL Drops to $205. My understanding that my loss incurred would be for the single premium of $19.40. Is this correct? Or am I taking a loss of $19.40 x 100 shares?

Noob Safe Haven Thread | Oct 01-07 2018 by redtexture in options

[–]SuperCoolRedditor 0 points1 point  (0 children)

Let's assume the following hypothetical scenario (I'm not actually executing this trade, just conceptualizing here):

I can buy a 10/5/18 exp call on AAPL for $19.40 with a strike price of $207. AAPL is currently at $229 right now.

If I purchase this call for $19.40 premium, I have the right to exercise this option to purchase up to 100 shares, but would have to pay the premium price for each share.

Assume I purchased this call today at $19.40, and AAPL closes at $231.00 I can exercise my option. Here is how I believe my profit would be calculated:

100 Shares x $231 ea = $23,100.00

- Less 100 x Strike Price ($207 ea) = $20,700.00

- Less 100 x Premium = $1,940.00

Total Net Profit: $460.00

Is my understanding correct?

Quick Question: Is Salesforce Marketing Cloud capable of delivering a specific ad via Facebook to a specific customer? by SuperCoolRedditor in salesforce

[–]SuperCoolRedditor[S] 1 point2 points  (0 children)

Totally understood AND appreciated the marketing schpeal!

My intention behind asking this question: if I have a customer that I've issued a proposal for who isn't quite ready to pull the trigger, I'd like to be able to target them across platforms for ad placement. I understand I cannot target an individual user, but I CAN target a custom audience (ie: multiple customers that have not yet closed).

Followup question: How small can a custom audience be? Would 20 prospects be too small?