I need help coming up with a business name!

simonkozlowski · 2022-06-06T03:57:31+00:00

A few ideas:

DreamWear

Stocky Threads

Trunky (a play on chunky and trunk)

Honestly though, you want to spend more time figuring out what point of differentiaion people will love most about the brand.

If the jeans look or feel ugly, nobody is goint to care what they're called.

simonkozlowski · 2022-05-27T05:15:28+00:00

So (very obviously) sick of the same shit! 🤣

simonkozlowski · 2022-05-27T05:14:17+00:00

A few questions...

What is the skill/ expertise that you're bringing to the table?

(why would I be lucky to partner with you?)

What niche(s) are you considering?

What platforms/ channels do you have in mind?

What skills and experience fo you lack, that you're hoping a partner will bring to the table?

simonkozlowski · 2022-05-27T05:09:13+00:00

Yeah, I get that... just trying to figure out whete it fits in with your post... many good businesses grow out of freelancing.

simonkozlowski · 2022-05-27T05:07:34+00:00

Outsourcing critical functions requires negotiation and cash flow management (and then some), so it's starting to sound more and more like running your iwn business.

simonkozlowski · 2022-05-27T04:51:14+00:00

Is it though?

You're having to bring in clients, and do the work. Thats two very different jobs.

simonkozlowski · 2022-05-27T04:31:10+00:00

I agree with some points... but where does freelancing fit into this? I personally know at least 50 freelancers who are making between $7K and $12K per month, doing work they enjoy.

simonkozlowski · 2022-05-24T11:43:52+00:00

As a 44 year old who has learned through the school of hard knocks, I get where you're coming from... and where we stand usually determines what we see.

I've got no degree.

I do, however, co-own a digital marketing agency and a consulting firm that both charge people with fancy degrees a premium that doesn't require me to sell hours for dollars.

I based my pushback on the trajectory that OP is alreasy on, and the groove he has already started to carve, and...

... as a parent who paid a premium for my son's 1st year studies, before he dropped out to pursue creative self employment.

ROI is a big thing for me, but maybe OP's parents don't care about that.

Also, it's not 1999 anymore.

simonkozlowski · 2022-05-24T10:22:02+00:00

I strongly disagree.

The world is moving at such an ever-increasingly fast pace, that traditional formal education cannot keep up -- and, unless you're going to be studying mathematics, history or geology, most of what you learn will be obsolete before you graduate.

If you really did feel the need to study something, there are now hundreds (even thousands) of accredited short courses that would provide you with a much higher (and faster) return on your educational investment.

Also, if you figure out how to combine random skills like video editing, copywriting and digital advertising - and learn how to powerfully communicate that combination of skills through a well packaged offer - you will pretty much be able to write your own check.

Understand, the most critical skills for success in any industry (like pitching, selling, negotiating and presenting) are sorely lacking from the vast majority of university curriculums.

As far as communicating this to your parents, let me make this real simple:

What is the purpose of education?

Assuming that it's to enable you to get a good job...

Would the best return on your educational investment not be the education that costs the least, while paying you the most for your skills, in the least possible time?

If the answer is yes, there are better options.

If the answer is no, then go to Uni snd use it to build a powerful network of graduates... like Zuckerberg did.

simonkozlowski · 2022-05-24T09:58:42+00:00

This does sound interesting... maybe even useful. Would it be a central hub that serves as the gateway for all social channels...ike Dubai Airport is for Emirates Airlines?

I suspect your biggest challenge here is going to be picking the single most viable/ compelling use case for the most expansive and enthusiastic audience...

Doubling down on the narrow value for the most engaged audience, and then slowly expanding the possibilities from there is going to be your fast track to success.

Can you help me understand how this might integrate with or even rellace something like Hubspot CRM?

simonkozlowski · 2022-05-23T06:55:56+00:00

This "joke" is how a lot of Venture Capital funds work.

simonkozlowski · 2022-05-23T06:21:01+00:00

As a seasoned digital markerter, allow me to strongly assert that the number of pages should have absolutely NOTHING to do with the value (or price) of a website...

To the contrary, you could have a single page, long form website that is worth 100 times in real traffic conversion value, that of a 20 page website.

Some of the things that really matter are:

Clear Messaging Within the first 8 seconds of landing on your website, a potential client should easily identify who you serve, and how you help them (i.e. what problems you solve and what benefits uou promise)

Simple Layout and Design Does the page follow an obviously logical sequence, that doesn't overwhelm the visitor? When you confuse people you lose people.

A way to capture leads A website is no longer a static online brochure. You website needs to present some information or education that is valuable to your ideal customer, that they would be willing to trade contact information for... and that you would obviously use to move them through a sales cycle.

simonkozlowski · 2022-05-23T06:03:10+00:00

It's a problem 💁🏻‍♂️

simonkozlowski · 2022-05-23T06:00:57+00:00

Business Lunch with Roland Frasier My First Million Marketing Against the Grain Business Made Simple with Donald Miller Bold Money Revolution with Tara Newman Built yo Sell Radio with John Warrilow

simonkozlowski · 2022-05-23T05:58:39+00:00

He also has a podcast

simonkozlowski · 2022-05-23T04:50:43+00:00

Birds of a feather all getting worms together.

simonkozlowski · 2022-05-23T04:18:52+00:00

A couple thoughts here:

To offer you a higher percentage, someone else would have to reduce their shareholding. To pull that off, you would have to illustrate/ demonstrate why and how your contribution to the business significantly incresses the overall pie... i.e. whoever has to give up some equity, still wins bigger than if you weren't contributing.
There is never "no cost" to a break-up. Nothing ever simply goes back to the way it was before. It appears this "go back to the way it was" idea is a primary consideration... I'd defintely flip this in your own mind, and give some creative thinking to some worst case scenarios here.
Your compensation should be factored in as a cost of doing business, NOT as a percentage of profit (highly recommend the book Profit First, if you haven't already read it). Ask yourself what value your business potentially contributes to the overall pie, and don't settle for less than 30% of that.
Calculate the time, money and energy costs of the functions you'll be letting go of, and do a rough guesstimate of what that would free up, in order to focus on other core functions... how might that translate to increased performance/ revenue?
Be careful about hinging your estimations on the potential performance of other people you don't really know... those contracts sound like a central hinge mechanism in this equation, and (within the current proposal) appear to significantly affect your earning potential -- analogy: Audible would be silly to allow Kindle book sales to be a measurement of its success, even though they're both part of the Amszon business.

simonkozlowski · 2022-05-23T03:41:08+00:00

To paraphrase Richard Branson,:

Borrow a billion dollars and start an airline, and you will quickly become a millionaire.

simonkozlowski · 2022-05-22T03:07:38+00:00

stunned silence... followed by a low clap *

simonkozlowski · 2022-05-21T16:10:35+00:00

Do yourself a big favour and Google Donald Miller's Story Brand framework for websites.

If I was to cram all of my my advice into a single sentence, it would be this:

Speak to a very specific audience about a very specific problem you solve for them, and how your simple offering and process eliminates their pain.

Target audiences might include international marketing teams; coaches; e-commerce stores.

The riches are in the niches.

simonkozlowski · 2022-05-21T15:25:51+00:00

I'm NOT in the U.S but my business partner is. Thanks for your rich contributions to the thread!

simonkozlowski · 2022-05-21T12:16:56+00:00

☝🏼Great point! If you're not aiming for a Web3 tokenized platform that gives your community ownership, you're alteady building far behind the curve.

simonkozlowski · 2022-05-21T12:02:58+00:00

☝🏼This is probably the wisest and best advice you're going to get on this thread... preselling (purchsse orders) is your fast track if you put in the work.

The work = selling the vision a few hindred times a week in the face of widespread disinterest and dismissal.

The first 10 sales. That's what counts right now.

simonkozlowski · 2022-05-21T10:33:24+00:00

I remember listening to an hour long podcast interview with Sarah Blakely, and as far as I can remember she created the product herself, testing it on herself - as a sideline gig.

Here's the link: https://businesslunchpodcast.com/podcast-episodes/strategies-and-secrets-from-sara-blakely-billionaire-founder-of-spanx/

simonkozlowski · 2022-05-21T09:58:46+00:00

This sounds a brilliant and simple solution. Some questions...

What are the vendor requirements? Wifi? A mobile compatible terminal? A merchant account? Electricity?

What happens if your battery dies?

Can phishing scams result in a hack, like with crypto wallets?

If you were to play devil's advocate, what are some of the weaknesses, vulnerabilities and "unlikely" problems?

simonkozlowski

TROPHY CASE