Questions

Private Equity

What are the best sources for doing JV deals on commercial and international deals?

2

Answers

Andy Thom

Simple, Proven, Business Growth Strategies

Hi, I am the Managing Director of a $100m Technology Company Private Equity are looking for high growth potential investments with a 3 year exit plan. Experience of the management team with past success will be a major consideration. Best Regards,

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Stephanie Hayes

Startup and Small Business Mentor, Entrepreneur

Oh this is a long question to answer, but let me start with my experience. I'm the "outsourced COO" for a number of small businesses who have grown through their bootstrapping phase, proven they have a market and all of sudden start feeling the pressure of the business expanding. 9 times out of 10 what they need is someone to wrap their arms around all of the operational stuff, mature their processes, put systems in place, connect their data, introduce greater discipline in the production of their core offering, make sure they have the right service providers in place (lawyers, accountants, bookkeepers, etc.) and they can easily and quickly get access to the right metrics to understand how the moves they make affect their desired outcomes. This is an important and often ignored role and is the key to relieving a hard-working CEO of the things they likely don't do "well", and allow them to focus on building their business, usually on business development and strategy. I think it is smart for you to consider adding this to your roster, particularly if your time is better spent on more strategic work. More and more I would say that sourcing this kind of talent from recruiters and executive head hunters is becoming ineffective. You are best to scour LinkedIn and use your personal network for recommendations. You are far more likely to find good people this route than relying on the "you get three options" approach that many agencies will offer. You know your business best and who is going to fit. It sounds like you are still relatively early stages. Don't worry about titles. The right person will be someone who has been there before, in a growth phase of a company, and knows that titles mean nothing, other than to better define their scope of work and help the employees understand their role. If you find the right person, they will be able to tell you exactly what you need from an operational perspective. I fear if you try to turn this into a CEO role, you will find someone who doesn't want to get mired in the details and focuses on the strategic work (appropriately), so you will end up with the same problem. Go find someone who focuses on, and is excited by building the operational foundation for your company. Someone who is going to say "OK, go build your business. I will make sure everything works to support that." They should also know how to scale operations to meet projected demand so you can work as a well-oiled machine. Additionally, look for someone who has run a company before. I certainly earned my stripes when I went through this myself. Your candidate should understand business process engineering, change management, resource management, service design, financial and data management, systems and technology, etc, Don't skimp on compensation. Pay them what they are worth and make the offer attractive. You will lose senior resources in a heartbeat if they don't believe you value their skills and are ready to make them an integrated part of the team, and to trust in their experience. Senior resources are not motivated by money but by the challenge, the team, the knowledge that they can be successful. I hope this helps. Happy to chat further if you have some more specific questions.

Hernan Jaramillo

Raised $100M for startups, BTC since 2013

Try https://mattermark.com/ the paid version, you will get different list there.

Guy Alexander

Entrepreneur & Strategic Thinking.

Hi, Great question to post. I've been in your situation a number of times so understand where you are coming from. Both from startup's i've had through to working on Go To Market strategies in large businesses. The first place i would look to is defining geographically where i wish to cover e.g a local area or national or do i wish to span several countries? Next, look at the new business "birth" rate and "death" rate within that region. This will give you an idea of a high level gross add's and net businesses you could work with assuming you wish to be helping them in their "early life startup phase". Depending on how specific your new product is, you should look to segment further. However I am a big fan of looking at my customers or potential customers based on how they behave and "Buy" - too often we get focused on how to "sell" to new customers but not understand the former. Also, think about this. Are they motivated to participate in your coaching program, or are you looking for people that require motivation to make their business successful, in turn they are looking for coaching? Again this will then help you to further drill down into "who" the clients are and "Why" they buy. It will also define where you should be networking etc or finding new business. Happy to talk further over Skype or Google Hangouts if you wish to. I'm based in New Zealand, currently working for a global SaaS provider. NZ is +12 GMT. Cheers Guy

Lee von

Unique Insights, Creative Solutions

If you're willing to pay 25 cents per person, you can try Amazon's Mechanical Turk: https://www.mturk.com/mturk/welcome Here's an article about its successful use for surveys: http://www.npr.org/sections/alltechconsidered/2014/03/05/279669610/post-a-survey-on-mechanical-turk-and-watch-the-results-roll-in

Michael Von

Business & Marketing Success Consultant & Coach

Focus on your USP. If you can figure out your USP (why would anybody pick you over other coaches) the battle is almost one. This USP will also energize you and help you to move forward in your sales and marketing of your coaching. Best of Luck, Mike

Swati Sharma

Personal & Executive Effectiveness Coach

With more than a decade of experience in top services firms (Technology products and financial products), being an ex-VP in Client servicing area, and realizing the impact good client servicing can have in keeping and growing your brand- I do know what you are talking about! The sectors which I feel need the most are- new/few years old startups (specifically service startups), they are so busy managing acquisitions, that they are forgetting servicing and retaining their already existing customers despite knowing that switching costs for these customers are ZERO and their competitors- many! Also, telecom & product support companies are lagging in this area. Hope this helps. I will be happy to have you arrive at a personal business plan for you to start building your training business in this area. Pls feel free to schedule a call or email me at ceo@flatheels.co

Melinda Byerley

Founding Partner, TimeshareCMO.com

In theory, sure. In practice, to do this you'd need to find a mostly foolproof way of knowing who was "good" when they signed up*. Will the team reviewing be able to KNOW who is likely to be good? if not, you're just providing friction for signups. This is a perfect thing to test. I'd use cohort analysis to follow a group you let in vs the control and see if the team does a better job than average at filtering out the "bad." The Test would also then tell you if that friction point was hurting you overall, even if the team was unable to manually discern who the best customers are. Another option: just review all the signups manually anyway and disable the ones you don't like. No need to reveal it. *To do this, you'll need to find out what your good customers have in common. (the same industry? title? company growth phase?). This is called segmentation. Once you understand that you can then market to get to more of the good.

Sarah Brody

Digital Ads Expert | Former Marketer @ HubSpot

I'd recommend framing your Adwords ads in a positive light - instead of calling out specific medical issues in your copy, describe the benefits. (ex: instead of "Experiencing hearing loss?" try "Improve your hearing!") I imagine there are several ways to rephrase your copy to get your ads approved and still deliver the same message. You can also try remarketing on Facebook, if it's a good fit for your audience. I don't believe they're as strict with this rule, so you may find that easier. There should be need to go through a 3rd party retargeting platform - you can build your ads directly through Facebook with no extra fees. Hope this helps!

Donn Felker

Industry Leader in Mobile and Web. 500MM+ Installs

Typically Apple and Google will consider coins and credits a type of digital currency. Under their terms and services these types of products in an application must be transacted through the AppStore and Play Store so they get the 30% cut. When I worked for Groupon, building their Android application, they were not required to use the IAP from either platform. This is because they were selling a product or service. As you stated - you're selling a service. You may need to change the wording from "Credits" to "Balance" (or something similar to that) and have that reflected as actual dollar amounts in the app. I would also be very clear that you are selling a service - not digital goods. If this is truly what you are doing (selling a service), then you should be in the clear. Disclaimer: These TOS change all the time. The last time I dove in and read one end to end regarding IAP was about nine months ago. But I'm fairly certain the service and product thing still applies. You may want to consult your lawyer and review the TOS with them to be sure you're not in the grey area.

Michael Von

Business & Marketing Success Consultant & Coach

Don't take no for an answer. If you believe in your app, then ask for investors. Start small and you can ask for more later. Spend as much time as it takes to come up with answering this question..Why would I buy your product or service? This will give you your USP. From there you will develop your drive, your, passion, and your marketing voice. From this you will develop unstoppable perseverance for success. Best of Luck, Mike From the Trenches to the Towers Marketing I will be glad to help as my time permits.

Humberto Valle

Get Advice On Growing Your Real Estate Business

Although I understand Portuguese, I won't attempt to write it. Here is my answer in English: So you have an Arch. & Engineering firm that just opened. First you need the basics: 1. Business Cards (my team can do design for you) 2. Nice booklets (magazine style) presentations, also called “sales sheets/books” 3. Beautiful looking website (my team can do this for you) 4. A dedicated focused target market – what industry has more potential for the skillsets/number of employees you have? For example, maybe residential design is better for you instead of large mining complex campuses. 5. A list of fellow engineers & architects 6. A list of all focused industry businesses that are immediately accessible to you in that area. 7. Add yourself to map search engines like google maps, or other sites like Yelp.com- the more the better. Once you have that, make a plan of execution. This plan can be as simple as find a meet event and pass cards or as complex as involving social media, google advertisements, local site sponsorships, event networking, intro to engineering firms, intro to potential clients, etc. I will give you an example, my team and I ran a marketing campaign for an engineering firm that was struggling after 2008. All their larger industrial and mining clients were walking away and postponing their construction needs. This engineering firm didn’t have any recognition in the city because most of the clients were in other states and countries but now it needed to get work from small companies in their city to be able to remain in business. One of the things we did was call real estate developers/real estate managers of empty property lots and asked for information on a random piece of land, if they had been sold we would ask to whom or for any further information on that property. We would then contact the firm that purchased the land. We also got them to be considered for one the local city’s “engineers on call” list which means that when the city needed work they would simply pick one of their already selected firms. With purchased business cards and sales booklets showing capabilities, culture, experience and industries serviced we would introduce the firm to other local warehouse operators and leave with them the booklets and cards. We would mention that we did work with another company near and stopped by to offer our services to them for future needs. We also introduced the company to general contractors, local small banks for homeowners who want to remodel, introduced the firm to project financing management teams (these are financiers that sponsor projects for an existing company as a sort of investment) as sponsors they get to control who builds, what costs are suitable, etc.. Getting in good terms with these groups helps a lot for larger projects. You can also become a member of a local chamber of commerce meeting/group, introduce yourself to prospect clients and offer certain amount of hours heavily discounted or free so that they can better take advantage of a retro-fit that needs to be done or mechanical upgrade, or addition.

Humberto Valle

Get Advice On Growing Your Real Estate Business

Ok, so I'm not an expert in fashion but I know finance. Here is my take: These two would be considered "fast fashion" retailers or better yet, e-tailers. Fast fashion simply means that unlike Coach or American Eagle or Levis, these FF retailers don't have to try to predict fashion 6 months in advance risking a big flop and having to heavily discount items that don't sell. FF retailers simply 'scout' runway shows and buy wholesale from these designer labels. A lot of designers would like this because they are essentially getting a guaranteed sale plus added exposure. Another thing is that these FF retailers don't keep their inventory for months at a time, they do so in cycles of weeks. If a designer sells out, chances are they retailer will continue to come back for more designs from them. They are purchased wholesale, on cash basis account, payable on credit of 30 days or 90 days. The economics as you state it are a bit more complex that what I care to explain here, but essentially if you were to 'replicate & improve' what I would do is scout and offer purchase orders to designers, just like they do. First order completed as 50/50 paid in full/credit term payable 60 days or so (assuming you already have a store ready to move inventory and not waste those 60 days setting up). Aim to sell all inventory before 60 days and pay balance with revenues. Extend credit term to 90 days at increased inventory, aim to sell by 60 days and keep that cycle going. What this will allow you to do is to always have inventory being paid for by customers before they are due for you essentially having the clients pay for your expansion in inventory. The break even is simple, don't sell for less than what your wholesale amount is. Typical increase from wholesale commodity goods is 30%, try that margin. If you have to discount "heavily" at 15% or 25% you still get at least 5% safe margin

Warren K

Clarity's top expert on Instagram for Business

Instagram is my JAM-- it's a powerful platform in and of itself- understanding instagram places with be paramount to your success-- depending on the demographic of your audience you can really dial into competitors to build brand awareness... While working and in close connection with with brands such as @TVROPT, @CharlieByMZ, and Uniqlo... these brands heavily use influencer marketing. (for an amazing article on this concept https://blog.kissmetrics.com/guide-to-influencer-targeting/ ) You don't have to pay an arm and a leg for influencers-- and influencer don't have to have industry clout.. they could be the trendsetters of high school etc-- and their are ways of finding these local people on instagram. Let me know if you have any further questions after reading that article! :D

Marco Lucchin

Cross-border entepreneur, creative,

In this kind of situations, what I always suggest is: create a network, work on the ground. Use social netoworks and groups related to the territory you work on. Find the user basin you want to tap into, figure out what kind of other services do they use, and get in touch with them. That's a good piece of advice both for marketing and events. I developed a business in a similar field, health&fitness, but in order to be more precise I would need to know what are the other local small businesses in your netowrk.

Stephanie Hayes

Startup and Small Business Mentor, Entrepreneur

If you are offering advisory services only, you should propose a retainer structure, or a possible 50% retainer, 50% on milestones or completion. You could also do a monthly retainer based on the length of the project. If you are actually doing some type of implementation work, I would expect you could ask for a retainer/deposit and then bill the rest on time and materials. How does your industry typically structure deals? Will the customer focus on value-based billing or effort-based billing? Are you managing a team of people? What is your seniority and level of experience? Without knowing more about the project, your experience, or the nature of the work, it's hard to answer this question but I would be happy to chat further, having many years of experience building and operating a professional services firm. There are many options around pricing models - the best fit depends on the project and the customer (and you!). Feel free to reach out to me directly if you would like to discuss further.

David Grosso

Marketing & sales, domestic & internatiinal market

No it is not. Unless you are a big name you place yourself next to strong competitors that are supported by big budgets. Start small with friends, friends of friends, get reviwes, create a blog become known and maybe spend some money with FB ads. If you have the budget print some copies and fight for your space with readers clubs etc. It is a tough business with a lot of competition and therefore you must work in order to be noticed .

Millie Tadewaldt

Business, tech, PE, VC, b2b/enterprise sales

It depends completely on the legal documents you both signed related to his investment in the company. Those documents will either provide for "information rights" or not. If the documents don't stipulate to these kinds of rights, you are not obliged to show the investor anything.

Kenneth Wolstrup

Value adding advice built on analysis.

Being an insurance consultant from Europe I had to look up admitted vs. Non-admitted carriers: http://www.clarkeandsampson.com/blog/admitted-vs.-non-admitted-carriers I think that the article nicely sums up some of the considerations of the choice between admitted (guaranteed claims payments) and non-admitted (broader risk appetite and flexible pricing outside standards). From a european perspective, I would definitely say admitted as all current changes in solvency legislation focuses on ensuring, that enough money is available to pay all claims. Especially given, that you include some longer-tailed business in personal injury and third party liability. However, I would add some more parameters you should consider before you choose: - Is it necessary for you to carry the risk yourself, or could you have a risk carrier and instead act like an agent? The carrier could then worry about being admitted or non-admitted. - How do you plan to distribute - f.ex. Through partners? Would you being admitted/non-admitted be important to your partner? This is about them investing their good name in you as a risk carrier - you would not want to let them down. - What do the endusers think? Is this an important distinction for them, or can you motivate your choice no matter if you are admitted or non-admitted. - Since your product is specialty, can it even be an admitted insurance? If not, then your choice is easy. Good luck with your insurance venture! If you have additional questions, I am happy to continue the dialogue over the phone. Best regards Kenneth

Trevor Longino

Marketer, Leader, Banjo Player

If you don't have a license, you can't legally offer the file to download, unless it is shared with one of a select number of free licenses that don't require attribution. A "thanks" is no legal protection against DCMA takedown notices and RIAA or MPAA lawsuits. So in short: you need licenses.

David Grosso

Marketing & sales, domestic & internatiinal market

If you mention what?

David Grosso

Marketing & sales, domestic & internatiinal market

It depends by your company size and structure, but i think a CEO of a small company must understand what is pertinent to strategic decisions for his company. If you are thinking of changing the way you sell, it is better you understand why, which are the cost involved, benchmark your competition and see what they do. You need to have the situation in your hand in order to guide the decision process in the best way.

Vinish Garg

Narrative Driven Product UX, Design, Sales

Can you promote without content? No. However it does not start with content either, it starts with 'strategy'. What exactly do you want to communicate, what you want your audience to expect in your blog, how you want to hook them, engage them, and participate in discussions. What are your strengths - webinars, ebooks, tutorials, reviews? 1. Prepare an inventory of what all you want to offer, and why. 2. Plan a calendar so that you can stick to a schedule. Remember that all blogs start at 'Hello World' and a many end at this post itself. 3. Plan how to reward your audience. 4. Now comes Content and Promotion strategy. If you want more details, write to me or setup a call anytime! :)

Robert Williger

Copywriter and Marketing Strategist

Great question, I have launched a few digital products and have helped others do the same. The steps can be as simple as: Setup a PayPal link and send it out to people or can involve complex applications. Without knowing the exact nature of the product or service in mind here are some general steps. 1. If you don't own your business domain and have a website up, that would be the first step. 2. There are several options for payment. If you have a digital product that will be delivered Gumroad has an excellent platform for selling digital items such as ebooks, videos, MP3. There is also selz.com which allows products as well as services. 3. Drive traffic to your page via social media or paid advertising. 4. As this is an existing product, you may have some ideas of where the market hangs out in terms of blogs, forums, chat rooms, etc.. Remember, if going into a group you want to offer value before trying to sell or it will likely backfire. I hope that helps with a bit of a framework. If you have further questions let me know or you can schedule a Clarity call with me to help plan this out in further detail. Rob

Amy Kohler

Maximise your benefits.

A great structure is having an internal champion present on each team, unit, office, etc. that can easily provide answers to benefit questions. This structure is particularly important if the company is spread across several locations without HR on the ground in each locale. On the more proactive side, having the champions provide information through rotating monthly topics in presentation, newsletter, or dropping into team meetings can be extremely effective. For example, a champion might put together a January newsletter for employees that will be utilizing parental leave detailing the process and what they need to know ahead of time. Training of champions can take place through HR or existing champions that know company policies, engagement can occur through project management and implementation, and empowerment through the respect and gratitude earned. Internal champions are often looked to for management positions following effective leadership and project execution.

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