VP of Business Development at Total Brand Management. Author, Education for Entrepreneurs
If you believe local businesses are hard to scale, have small marketing budgets, ehy are you targeting them?
1. Your presumptions about local businesses are inaccurate.
2. Hire someone experienced and successful selling to local businesses to
guide you and your team.
Beware launching a company in a niche that is not your domain - bring help on board stat. If you'd like to discuss how local can be lucrative, I've advised locally focused startups.
It sounds as though your company is pre-revenue so I'm not sure what value you are offering an investor, even at seed stage. As for composing your company summary, it is imperative that you learn how to present your company to investors. You would be better served by creating a small group of experienced advisors to assist with benchmark challenges, strategy and investment prep.
One of the greatest challenges for a marketplace is to try to be all things to all people. If your purpose is to populate the platform with high-quality contractors who will stay with your company and grow your revenue, then jettison startups and focus on established businesses that are earning a baseline income of $250K.
If you don't hone your audience, your income will suffer and you will spend way to much money advertising for contractors and new customers. Better to niche the contractors and customers with a focus on top quality so you spend very little on marketing and grow profits. Book a call to get a strategy tailored for your company's needs.
Hi, I have assisted young companies for more than twenty years. Valuation, Company Narrative and Financials can be prepared with experience and professionalism by quite a few solid firms.
However, at very early revenue I am not certain paying for a valuation, etc. is worth the money at this time.
It's likely your young company hasn't made enough money or had nearly enough customers to prove demand for your service [proof of concept].
You would be wise to continue to build your customer base and revenue in order to have a shot at convincing investors to invest.
Such an excellent question especially relevant as so many corporations are failing. Great points have been made, however market and operational variances are the responsibility of company leadership. How leadership makes decisions and with whose input is determined by experience.
Turn-arounds require precision.
Sears is unfortunately headibg for a corporate graveyard. The hedge fund that acquired Sears made a mess of things.
Sears held three major assets: real estate, Craftsmen tools division and Kenmore appliance division.
The hedge fund liquidated two divisions - typical, but ill-advised. Sears should have judiciously sold real estate, jettisoned Kmart and focused on retailing and wholesaling Craftsman and Kenmore.
Leadership decisions determine the success and failure of companies.
Hi, always glad to see a founder ready for growth!
Co-founders are important but only for the right reasons.
You shouldn't bring a person on as a co-founder just because you can't afford to pay a hefty salary.
A co-founder hire should strengthen the existing team long-term by:
1. Adding a depth of experience in a specific skill set
2. Working cohesively with the existing team (learn this by hiring the person for a trial 1 to 3 month period)
3. Having worked with successful companies
As for persuading someone to work with you for free... ah, you'll get what you pay for and that is not the unicorn you're hoping to on-board.
Consider talking to incubator and accelerator founders for recommendations for broad categories.
I specialize in accelerating brand growth. I am willing to discuss working with you to develop the foundation for your business growth as an experienced advisor. I can assist or lead in the vetting and hiring of an excellent candidate (also an area where I am experienced).
Finally, I work with many top venture partners and their core preference is to invest in strong teama with deep experience. Book me for a half hour to get started.
Your low hanging fruit may be partnering exclusively with:
1. a bridal magazine site
2. a wedding registry site
The travel-related services you offer are great for honeymooners and babymoons.
1. partner with Y Combinator, et. al
In each case offer an exclusive service package. You could process purchases in a way that provides a percentage to the partnering platform. I'm available to detail this process on a call.
1. Preys on women - 3/4 of participants are women
2. Requures participants to purchase over-priced goods
3. Focuses on recruiting new participants
4. Does not focus on product sales
5. Leaves participants deeply in debt
6. Also known as distributorships
Pyramid Schemes are illegal in the US. The Federal Trade Commission views Any distribution company that focuses on recruiting and Not Sales as a Pyramid Scheme.