Questions

Customer Acquisition

What are the unit economics of companies like Well being Escapes?

1

Answers

David Favor

Fractional CTO

You can easily search online + find individuals running Solo companies (0 employees) making 6-7 figures/year doing this. Just find a few. Pattern your business after theirs.

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Rebecca G

Management Consulting

Don't start with the KPIs, start with the responsibilities. Think of everybody in your business and list out what your performance expectations are of each person. Then determine how you will know if those expectations have been met: what are the outcomes you will track for each. Those are your KPIs. For example: you expect your sales people to sell. That is a fine starting point. But what does that mean? - Do you expect new clients? And if so how many? At what value? - Do you expect return business? How much? How often? - Do you expect up-sells? How often? - What activities to expect to see to lead to these results? - How many clients do you expect to see? What percentage of business is new, versus old? Are you high value low volume or the other way around? This will be a more effective way to find realistic measurements that are both easy to track, and easy to share and "sell" to your employees.

Rachel Hernandez

Real Estate Investor and Author

You may want to look at other lenders and options. See if you can find one that will allow you and your friend to set it up the way you described. Another option is to look for private lenders to fund your deals. Hope that helps!

Diana Richardson

Digital Marketing, Consulting & Auditing

I had the same question. Clarity told me it was a bug in their system right now and it will be fixed soon. That was a month ago.

Richmond Eke

Growth Strategy Expert

Having effectively run a young digital agency as well and growing revenue by over 400% within 6 months, I will share what worked for us. Word of mouth remains your best customer acquisition channel. Referrals paved a way for us in an industry that was already overcrowded. How did we achieve this? We did three things. 1. Niche Marketing: We offered our services strictly to the growing startup community in our city. This tightly knit community who watched each other's moves closely began to notice our work on other startups and reached out to achieve same results. We spent $0 on marketing at this point just by doing this. 2. Free! Free! Free! - Give out free items but be strategic about it. A unique way we applied this was by finding influential business leaders within the startup community and offering them our service for free - A free explainer video. Who says no to free stuff? Most of the CEOs and founders we reached out to were 'delighted by the honor'. In turn they became our brand advocates as they were very pleased to tell other people about us, most especially at speaking events. This strategy alone accounted for 40% of our revenue. 3. Brand Positioning: This strategy is the most effective. It hinges on the idea that by making your agency an expert in a certain field, you make your agency a lead market. People like to share their problems with experts who they believe know and understand the problems best. You can easily do this through many ways, here are some unique ones: 1. Industry thought leadership Articles. 2. Gaining massive press exposure (Everybody wants to work with the popular brand) 3. Distributing Free guides on topics your target audience cares about. I hope this helps.

Diana Richardson

Digital Marketing, Consulting & Auditing

The same way companies grew before there was the Internet — boots on the ground, people-to-people networking, outbound sales outreach and time.

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi, First of all, based on the informative manner in which you phrased your question, you seem very intelligent and business/internet savvy - so either way, I'm sure you'll do great. Answer: I would go for both. Why? Because they are not exclusive to each other. Some people will just want to read about a specific subject/issue/solution within the field, and others will want to read the entire e-book. Also, some people like to have a book layout, versus others who prefer reading short posts. The online concern with an e-book is the re-publishing of the content by a third party - but if you release the eBook only after you publish most of the content on your website, this won't be a problem because Google recognizes who published the original content first. If the above us not an option because of the specific subject you're covering, then I would go with the online resource option (and not the e-book). The eBook is a once off profit model, whereas you could probably sell numerous products/services on the website (I would of course need to see all the numbers to give you a 100% answer). p.s.: if the business has a lot of potential (backed by numbers), I would be willing to consider a small investment (if this interests you). I've successfully helped over 300 entrepreneurs, and am happy to help you as well. Best of luck

Peter White

Clarity Expert

Great question! This is a similar issue all enterprise-focused companies face, which I've experienced many times. I'd recommend creating content that leverages your experience: 1. Create detailed case studies about each of your large projects, featuring the customers branding clearly. Seek permission before doing this, 2. Create white papers for each of your key learnings from the project. For example, I'd love to know how Russian law impacted your project - "Developing software that complies with Russian data protection law in 2019' 3. Create short blogs which summarise the white paper, ideally with a video. Offer the whitepaper as a download in exchange for an email. 4. Promote the blog posts on LinkedIn with paid advertising, aimed at your ideal customers. Happy to jump on a call and discuss how I've successfully used to approach to win customers.

Janusz Zdrojewski

Technology, Innovation, Digital Transformation

Hello! Firstly you need to decide whether you're targeting larger or smaller corporations. Approaches will need to differ because the larger the organisation, the more formal the process and the more gatekeepers to go through. I've noticed you mentioned Russian legislation - I successfully sold in the CEE market before and can share my expertise of both selling into CEE and the wider EU. I'm now in a position where I pick vendors and approve engagements so you'll get a 360 degree perspective on that. One thing to mention is that retail tactics won't work with most corporates. This is true the bigger your target client is. The main angle to play is specialism and delivery efficiency - happy to expand on both.

Ann w

Welcome, I’m new here, pleased to meet you.

I would directly contact a list of companies and try to get a direct answer. Of course, you can try googling since you can find just about anything on the web. Give me a call for more advice.

Melissa Kilbourne

Startup COO with Product and Marketing Experience

Quickest way to drive traffic is either Google Adwords (SEM) or Facebook Ads, however, with a limited budget you can't guarantee sales (you will be paying per click). This is also a great place to test different copy, images, or audiences to see what works best for your website. A great way to spend marketing budget when you are first getting started and on a limited budget is affiliate marketing. Basically you pay a commission to other sites that drive sales for you (pay per sale model) or when someone submits a lead form (pay per lead model). This is not the fastest way as you need to structure your program and find affiliates, but you typically don't start spending your budget until sales are coming in. Niche markets are usually a good fit for this so your yoga should align nicely. Shareasale is the largest when you are just getting started but this article has an aanalysis of some other options as well. https://growtraffic.com/blog/2016/09/affiliate-alternatives-shareasale

Janusz Zdrojewski

Technology, Innovation, Digital Transformation

Hello! You need to consider where UI and UX come in and why. Typically, by the time UI/UX is designed and then reviewed a range of activities must've taken place, e.g.: (1) Someone defined the proposition, product or service which the UI/UX is supposed to satisfy. (2) Someone created a project around the UI/UX design and implementation. (3) Someone created a blueprint for integrating the UI with existing systems and thought of ways to streamline UX across products or services. If you provide services in any of the above, they will constitute a value-add to UI/UX. One obvious angle to play, if you're doing reviews, would be to try and determine why UI/UX fails to achieve what your client wants. This presents a broader methodology improvement opportunity for your client - a valuable lesson. More than happy to share some of my experiences delivering UI/UX changes as parts of digital transformation. I've also authored standards and guidelines for UI/UX design for large corporations so know what can go wrong and what would sell as a complementary service to your reviews.

David Favor

Fractional CTO

Setup your business as a pass through. You run the transactions + charge a fee. Likely, for the businesses you mention, they'd be happy to pay a premium fee... as you will be the only payment processor to accept their transactions.

Arthur Cho

Product enthusiast | Content x Tech

It depends on your budget. Companies like Nielsen or other international market research companies had offices in these cities and they offered professional research services. However, many successful teams in the region would build their own research projects in-house. If you are in a budget, you can try free tools like Statista to get a sense of the publishing market. If you want to dive deeper, you can come across with a bunch of Chinese content (e.g. http://ipubl.com/site/gjcb/bg/info/2017/840.html ), which you may need some help; for user interview services, that is not as popular as the west, it may be better if you just hire some part-time helpers to conduct interviews for you. Marketing channels are highly diverse, there are lots of "agencies" in the region claiming they offer "all-in-one" packages, but they are more focused on executions/ creativity inputs instead of the actual outcome, which should be aware of.

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi First of all, the fact that you're asking this question is very good (stage one of the solution). Second, without hearing more details, it is very difficult to provide an educated answer. Therefore, I am willing to offer you the following: 1. Send me more details of your business + what you think the problem is + what you think could be a solution (I intentionally want to hear YOUR take on things since business owners usually have good insights to their own industry). 2. I will then probably follow up with 2-3 clarifications questions. 3. Then, if I feel that I can be of value, I will suggest a short call during which I will give you my advice. If I don't think I have any valuable advice, I'll just give you my humble opinion by email, and all the above is free of charge (except for the few minutes that you have to invest in writing the emails). I've successfully helped over 300 entrepreneurs, and I'd be happy to try and help you. Best of luck

Search Engine Optimization (SEO)

Where can I find quality SEO tips?

7

Answers

Amit Arora

6x Certified Salesforce Consultant

A really good place to start is by listening to Neil Patel and Eric Sui’a podcast called Marketing School. Few other resources are: - Brian Dean YouTube channel Backlinko - Moz.com and their YouTube channel on whiteboard Friday’s - Matt Diggity and his blog - Lion Zeal Podcast - Searchengineland.com

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi, Before giving you the practical tips, it is important to first point out 3 things: A) You should be 100% sure that you really need a co-founder (versus using a freelancer or employee which may be sufficient). B) Investors usually take a deep look into the team and prefer founders that have worked together for some time and/or know each other for a minimum period (preferably those who’ve already experienced difficulties together before). C) There is a reason that CBInsights found that the third most common reason cited for startup failure is “not the right team” and that the most common agreement that I draft as a startup lawyer/mentor is a ‘separation agreement’. The reason being that most co-founders eventually split – and not under nice terms. In most cases, freelancers/employees can do what you need (perhaps the only exception is having a CTO when trying to raise capital from VC’s – and even this depends on the type of startup). Regarding a limited budget, I am not sure why you feel that you need money to find a co-founder? If you have an idea/business that you truly believe in, and it has potential, you should be able to pursuad people to join you (in exchange for share/equity and/or future profits). How to find a co-founder: 1. Go to networking events - some of which are dedicated to “co-founders dating/matching” - try www.meetup.com for this. You can also try www.founderdating.com or www.cofounderslab.com or http://www.founders-nation.com or www.founder2be.com 2. Take part in chats in relevant forums (depending on the type of co-founder you’re looking for). 3. Consider joining accelerator/incubator programs for startups/entrepreneurs - some of them connect between founders. 4. Contact head of programs at universities and tell them what you’re looking for. Today, many universities and cities have startup programs with a lot of talented participants (or speakers) who might be the perfect co-founder for you. 5. Talk to friends and family and let them know that you’re looking. This helps expand your network. Post a message on www.LinkedIn.com . I've successfully helped over 300 entrepreneurs. I'd be happy to help you. Good luck

Brandon Walzer

Experienced Marketer and Sales Executive

Are you tracking when you sell them and the value of them? What kind of POS system are you using?

Roy Morejon

🚀 Strategic Marketing Advisor & AI Innovator

Over 8,000 children's books have been funded on kickstarter successfully (https://www.kickstarter.com/discover/categories/publishing/children's%20books). As you look at those that are most funded (https://www.kickstarter.com/discover/advanced?category_id=46&sort=most_funded&seed=2605499&page=1) Like Rebel Girls Series, you can see that successfully building a tribe on the kickstarter platform, can have long-standing positive business growth, by tapping into that community again, for your next book.

Hans Peter

Need Clients or Customers... Let's Talk!

So, you are looking for leads to call you. That's a very good idea. Cold calling is not the solution. Don't get me wrong, cold calling works. I have successfully built a company using cold calling. But that was some time ago and now it's extremely difficult to get people on the phone. The solution to this is lead generation using LinkedIn. You can search for your ideal customers, request a connection and once accepted start a dialogue. This works. I have personally closed over 6 figures in business this way and my students and my clients as well. LinkedIn can also be used to make people connect with you and request your help. I am happy to jump on a call with you and explain how this all works in detail and answer all your questions.

Ogbonyenitan seun

I am ogbonyenitan seun adebayo. I am an expert

China. Becuse there is no minimum capital requirement for setting up a Hong Kong entity, while Singapore requires a minimum of SGD 1

Jason Knott

International Tax Attorney

There are two main considerations. First, if you are selling products to U.S. residents located in various states, you may be liable to collect state sales tax depending upon the residency of your customers. Second, you may be liable for federal income taxes on your net earnings if it's determined that you are engaged in a U.S. trade or business and have income effectively connected with that U.S. trade or business. The rules for determining whether U.S. source income is effectively connected income are quite complex with many nuances. For the sale of inventory in the U.S., the old "title passage rule" used to apply. If title to goods passes outside of the U.S., income from sale of the goods was deemed foreign source and not subject to U.S. federal taxes. The recent tax law changes under the TCJA have modified these sourcing rules. If products are manufactured outside of the U.S. and then sold to U.S. customers, the proceeds are foreign source and not subject to U.S. tax. You also need to be mindful of the treaty provisions that may apply. The U.S. and U.K. have an income tax treaty which provides that a U.K. company's business profits will not be subject to tax in the U.S., unless the U.K. company operates a permanent establishment in the U.S. What constitutes a permanent establishment depends upon the specific facts and circumstances of your situation, so it's important to consult with a knowledgeable tax advisor and consider all of these issues.

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi First, I must give some credit to your expert as I agree with most of what he said. What you are describing is a common dilemma, and indeed your chances are much higher if you have one of the three elements the expert mentioned. Companies are reluctant to pay / purchase / invest only in an idea. Additionally, even if they do show interest, you will have to expose the idea to them, at which stage they may decide to make use of it without your involvement (an NDA/confidentiality agreement can only protect you so much, and most companies won't agree to sign one). Bottom line: 1. if you only want to sell the idea, your pitch email needs to be really good, and your NDA needs to be airtight. 2. I would consider offering that they develop it, and you get a commission in return. 3. You have a better chance if you validate the idea and collect some data. You don't have to develop the actual product in order to do this. I've successfully helped over 300 entrepreneurs, and I'd be happy to help you with the email or in validating the product/service. Good luck

Ogbonyenitan seun

I am ogbonyenitan seun adebayo. I am an expert

international shipping

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

My answer might seem a bit too simple, but anyway: why not put both - your direct number for people who prefer to first 'get to know you' before scheduling a consult, and the Clarity widget for people who already know what they want, and just need some quick advice. Just take into account that if you add the clarity widget, and you don't have any reviews yet (or have reviews but they're negative), then maybe it would be less wise to add the widget. If you are new to clarity and want to get some reviews, you could use your VIP code to offer free calls - this way you get happy clients, and you build your reputation on clarity by getting more reviews. I hope this helped. Good luck

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