Questions

My nephew is starting a business in the fitness. He’s 24 years old just graduated recently with a bachelor of business administration degree and he is shirking the idea of getting a day job and his parents made him a deal he has 18 months to build a business that at the very least breaks even he asked me for some advice and I recommended crowdfunding as I think this provides an opportunity to ramp up his business and break even much sooner. He is very familiar with this building, very familiar with social media reach, growing a social following and I am reaching out to some experts in a crowdfunding arena to see if it’s even worth going for funding.

Hi:
As Sean offered, crowdfunding is very challenging without a tangible product. Plus, has your nephew defined the target market for his fitness business? I'm guessing it is much smaller than the average crowdfunding universe--at least as he's starting up.
Instead, I think investing that time and energy into building his business base would be much more productive. Defining his target market, determining the best avenues to go after that market and delivering service that ensures repeat business--and referrals--are core building blocks to establishing a personal service business.
If you (or he) wish to discuss, send me a PM through Clarity for 15 free minutes.
Cheers,
Kerby


Answered 5 years ago

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