Questions

My business is swamped with demand for the unique products I supply. Why can't I get any help to expand the business to meet the demand?

I have tried to get help for years and only get advice or "good luck to you". With minimal help I know I could expand to be a major employer in my rural area. Seems there's lots of talk about helping small business but no real effort or action to ACTUALLY do something!

3answers

I think there are multiple issues going on and I would honestly love to work with you on this as it looks like an actual challenge for me. I'm a business consultant and really do only like working with real hurdles that challenge me.

One thing that stands out is your branding - or lack of.
You can hire some really good talented people to get you a nice professional website relatively cheap. I can refer you one if you are interested.

Second your products are not being featured either on google or your own website. For such products like these you really do need to have pictures. Also, PR {public relations} needs to be taken into consideration because your website mentions certain things I would never admit to myself on a business profile.

Third and most importantly, there is a lot of help out there the issue always remains though - your initial approach and introduction of your service, your books, potential market and also the people you are going to. If you go to Bank of America for their small business loan program (just saying, not sure if they do have one) you will most likely not get one. Programs like these often seek individuals who are worth a lot and have large assets to use as collateral instead of financing the business. You have to approach investors, crowdfunding, SBA, not banks.

Lastly, another thing I would consider is asking your vendors for better lines of credit allowing you to get the inventory you need and sell them prior to having to repay them.


Answered 3 years ago

A little more information would help.

What are the funders saying when they decline?

Generally people don't have a problem helping you expand when you have purchase orders in hand. So what is the real, fantasy-free state of revenue for your business? Do you actually have these orders, or do you simply think you can get them?

Sometimes you have to take the jump and make that first hire...then develop the cash flow to support them.

Do you have pro forma income statements, infrastructure growth plans, things to cover the 4 C's of credit?

Let us know some more details so we can give you more focused recommendations.


Answered 3 years ago

Without a doubt, you can get help. Perhaps, you need someone to do this part of the job for you.

I am not trying to sell you on calling me. Really, I am pretty busy with my businesses and consulting. However, I need more info before I could have a greater impact in helping you.

Ask, Ask, Ask, then Ask again.

Bonus:
Here is $10,000 worth of information for free and in a nutshell.

Concentrate on the 3 M's. There are actually 7, but 3 will do for now. These are Market, Message, and Media. They come in that order.

Who is your target market (customer, clients, buyers, users, etc.)?
Tailor your laser focused message for this target market.
What is the best media mix to get your message to that market?

Here's what you do...first, make it an offer that is so incredible that they cannot resist. Secondly, do all the work for them. Make it so easy to make the purchase now that they can do it virtually without effort. Thirdly, give them an incentive to act right now. Fourthly, offer an almost unbelievable guarantee. Fifth, offer a bonus for acting now. There are many other incredible steps, but these steps should help the novice to the professional sell anything.

Whether you are selling B2B or B2C, you have to focus on selling to only one person. You can actually sell to one person at a time while selling to millions at a time. They are one and the same. Don't get off track, what we call digital marketing selling is just selling in print. And that has not changed since Cluade Hopkins wrote "Scientific Advertising." Really long before he wrote the book.

The secret to success: I have had the pleasure of knowing and working with some of the biggest names in business, celebrities, actors, entrepreneurs, business people, and companies from startup to billion dollar operations. The number one reason for their success is doing what they know and love while doing it in new, creative, and innovative ways.

Ask, Ask, Ask. Have thick skin and learn from each "mistake." In a short while, the market will tell you what you need to do and who and what you need to ask. But get started now even if that just means asking a contact on LinkedIn.

While you are thinking, think big and think of something at least 1% better, newer, or different. And being cheaper is not a winning strategy.

Make decisions quickly and change decisions slowly..unless you are actually going off a cliff.

Remember these two 11 letter words...persistence and consistency. They are two of the most important tools ever invented.

Treat everybody you talk to and everybody you meet (including yourself) like each is your number one million dollar customer.

Bootstrap when possible and reasonable. Read "How To Get Rich" by Felix Dennis. Or better yet just remember the camel's nose in the tent story.

However, sometimes you just need to make a deal.

Listen, in any business you have to take some chances and some risks. Make sure you don't need a license and go for it. Remember, timid business people have skinny kids. Paraphrased from Zig Ziglar.

Best of luck,
Take massive action and never give up.
Michael

Michael Irvin, MBA, RN


Answered 3 years ago

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