Business Strategist & Conversion Expert
Your franchisor isn't helping out, huh? What kind of feedback have you gotten from them? Do they have a dedicated franchise success executive? Or a franchisee council to draw experience from? Your long term strategy is to raise the guest check average for each visit, and increase the frequency of those visits. Along the way you can look into: -lowering your cost of customer acquisition -lowering your cost of fulfillment (food, overhead, labor--I guarantee there's waste now) -lowering the average time to process an order (eg. in the drivethru, how long from arrival, through ordering, to departure with food? Most strugglers are terrible on this stat). However, you can only cut so far. Expansion is a far better goal. What you bought was a system with expectations and controls. Your pricing and costs should be known. If you don't know them, you won't know if you're profitable, and that's something requiring immediate correction if so. Are you looking at what competitors are doing...or what the top franchisees in your area are doing? Chick-fil-A in my area is doing some awesome things with the drivethru...how they staff it, process orders, increase flow through rate. And there are McDonald's in my area that I know are A listers...those that are mediocre B-level performers...and C-types that have poor standards enforcement, lousy culture, and missing processes. Who's the A-lister near you? I sometimes work with a B who is burning to become an A, and that's fun because I know they'll do the work.
I help uncommon businesses succeed online
With that kind of traffic, it shouldn't be hard to monetize, but the real question is coming up with the most effective strategy. Without knowing much about the business or having access to any analytics, here are a few recommendations off the top of my head: - add affiliate links to apps & software links - sell premium ad space - sell services to help customers select software/apps - sell services to setup various software - setup automated email campaigns - offer courses There are certainly other ways you could monetize your site. One thing to keep in mind is you want to focus on the CLTV (customer lifetime value). Rather than looking for quick wins, think about the big picture and how you can really help your customers in the long run. By providing value, you'll build trust and your customers and clients will be much more willing to pay for added services.
Clarity Expert
This is not a simple question to answer, but one I can relate to because I am currently creating an online course and I initially struggled getting passed the outline phase. I found the driving factor to determine the best organization of instructional content is understanding what your audience wants (or needs) to learn from your course. There are several organizational methods you can use. I’ll list a few examples, and I’d be happy to discuss further if you need help structuring yours. 1) Sequential: This method is best used to teach a step-by-step process, like the installation of a computer system. 2) Hierarchical: This method is best used to teach content which requires that a learner master subordinate skills or knowledge to advance to a higher level skill. For example, in order to teach someone how to trade stocks, they would first need to learn about the stock market. 3) Importance: This method is best used when teaching policies — commonly used by companies for internal training where they explain the important topics first, and progress to less important, ancillary topics. 4) Complexity: This method is best used when the topic you are teaching is difficult and may turn off your audience. You ease the audience with easier, generic topics, and progress to more difficult topics. Hope this helps! And request a call if you need assistance designing your course. - Armando
I am a business professional
First start by focusing more into solutions and less on the problem. 59 years old is not old, it's just right for opportunity and experience. If you are not aware of your strengths and the things you do well, I suggest you visiting a local workforce or educational institution and ask for a career interest inventory. It would act as a guide to assist you in the types of careers that will best suit your personality and interest. If all else fails, being unemployed could be the perfect time for you to enroll in an adult education program and refresh or gain some new skills for the road ahead.
Founder (Blockchain & IT)
Hi There, it’s hard to look for funding of a startup . My own suggestion is , you have to start looking for a backer that is sold out of your business idea for more info just give me a call on how to contact backers.
Clarity's top expert on Instagram for Business
Do pro-bono work with brands and influencers locally. You have to figure out your angle (and maybe you have) But I personally would begin to network with small businesses in the area who have worked with influencers. I would go in an say that I want to enhance the work that's being done with influencers to increase their ROI -- in that relationship you now have two people-- the influencer who is going to need ongoing work and the business and brand that could hire you separately depending on your work. I don't think spending a ton of time on advertising when you are a creative is the best route to go-- you need to be creating and leveraging relationships. Make no mistake though-- when money starts coming in you better HIRE someone who specializes in advertising ASAP. If you could have figured it out, you would have already-- accept that it's a weakness for you and move on to what you know how to do best. Hope this helps you with some initial ideas!
Founder (Blockchain & IT)
All Blockchain platform has an Architect/designer that lays out detail of operation, in regards of your query about cryptokitties platform you have to address to the designer, if you are planning to become an architect you have to do your research and understanding of programming languages.
CEO of FundRazr, advisor to multiple startups
You have two choices: add the talent to manage the PR and marketing activities to your team or outsource it. A good source of names if you wish to outsource it can be found here https://www.startups.co/articles/top-crowdfunding-experts-consultants
Well-being Coach make the change you want to see
If you're coming from a place of panic and desperation, you may find it difficult to get anything up and running. What are your job skills? What do you like to do? You may very well have to do work that is not your ideal, but can give you an income, and build from there. If you would like more specific help with your particular situation, please set up a phone session.
Equity Funding
12
Answers
Author, Startup mentor. Focus on people decisions.
Hello, So usually; at least in my opinion, the best search for funding follows validation from the market, a certain amount of recurring revenue and proof that business works (and can scale). Do you have these?
Sales Hacking and Marketing Growth
I have been very impressed with Hubspot’s CRM — $50 per month, per user.
Clarity Expert
These are tough questions. It may be possible to hire third party marketing companies that would be able to do some testing for you to give you the metrics, but most likely the best option would be to do the testing in house. I think that you would need to set up a few of these alternative sampling methods and go out and do some A/B testing and see which have the highest ROI. It would be important to pick some metrics that you could use to measure that which would be uniform for each location so that there is no variance between what is being measured. For example if foot traffic to your booth is a goal then figuring out the best way to measure that or if actual sales is a goal that is much more easy because you can just weigh the cost of the event against the revenue generated at each location. Feel free to contact me for more in depth conversation about this. You can find me at gscsconsulting@gmail.com or at my website www.gscsconsulting.com
Director / it.com | Founder / CauseWell Insurance
I'm not an attorney. Without going into a lot of details here I would suggest you contact an attorney who specializes in trademark law. Depending on how much you have invested in your business, I wouldn't navigate this on my own. Sincerely,
Business Strategist & Conversion Expert
If you have large quantities of batch size, look into statistical process control. If they're smaller batches, the answer seems pretty straightforward (to me, at least): 1. Map out the production process step by step. Operations, inspections, decision points etc. 2. Install a final inspection at the end of the process to accept/reject the product. 3. Look at returns and final inspections to determine the causes of failure. You should see the 80/20 Rule in effect: about 80% of the defects will be from 20% of the sources of problems. 4. Fix those 20% of the sources and clear up most of your issues. Adjust your process flowchart to match the new method. Ensure people are following the new method. Eventually you should have an inspection done at the end of each step / beginning of the next to ensure the product does not move on unless it is correct. I'm an operations management guy so feel free to book a call if you wish to dig into specifics.
$50 MILLION+ In Revenue Made From My Brand Names
Here are some tricks that work for me: + Laser the audience so that they are the best fit for the offer. Using interests, age, location, etc. or you will just flush money down the toilet. + Make sure ad images & copy match the landing page style so it feels seamless as visitors click thru + Optimize landing page constantly to improve conversions + Attention is what you want. Always use creative, attention grabbing images/video There is tons of other tricks too depending on which niches you are targeting. I'd love to coach you to success. I'm always one call away if you need me.
Growth Consultant & Founder of Upreports
Congrats on fighting anorexia and beating it! Unlike others, you are asking the right question. How to write a blog comes before creating a website, making money from it, or anything else. So, here are a couple of suggestions: 1) Start by researching what's out there already. 2) Keep a pen and notebook at your side while doing that. 3) Note what all has already been covered and to what depth. 4) While doing research, you will note lapses. Sometimes, content won't be enough. Sometimes, info will be half cooked. I think you got the drift. This will give you topics to cover that other has missed or haven't covered thoroughly. 5) Blogging is no longer limited to text. In fact, text based are slowly taking a backseat. They are being replaced by vlogs (video blogs). So, I would recommend checking Youtube for the content you want to create. 6) See what anorexia content creators are selling. See if they really have value or you can plan something people would like to pay for. It can be a PDF guide, access to video lessons, personal diet, etc. Long story short, do your homework. There are tons of things you can do to get blogging right. It is a crowded place but if you find a niche, then, there certainly is big money there. Trust me, I have been written blogs that sold for $400 a piece. Here are two resources I think will help you down the line: https://www.upreports.com/blog/build-brand-identity-online-100-tips-ideas/ https://www.upreports.com/blog/blog-optimization-growth-report-free/ Best of luck!
$50 MILLION+ In Revenue Made From My Brand Names
Social media channels like facebook are a great way for doctors to market digitally and cheaply. I recommend "humanizing" the doctors practice in a series of posts so clients and potential clients already feel like they know the staff and that they are just "going to some doctor" Consistant good solid posts can instantly boost credibility and increase the customer base. Plus building an audience is a great way to market for the long term. I would love to help here if you need any help along the way I'm just one phone call away always.
Content Marketing Strategist & Venture Advisor
A private equity company can offer any combo of preferred shares, warrants, options, or convertible note. They are like any other investor and can pick and choose, especially if they think you may be desperate for money. If you have more breathing room, and your deal is solid, consider shopping it around to other P.E. firms or family offices for better terms.
Product Manager turned Entrepreneur
You always want to mitigate risk, for you and for investors, or partners. One of the easiest ways is creating fake landing pages of your product idea. You then run ads, fb or Google, and see if people 'convert'. Convert can be giving their email, clicking a button like buy now, faking all the way to checkout, whatever you think proves there is a market and need for a solution of your product. There are many other ways to test a product without building. I would suggest you pick up the book Lean Startup by Eric Ries, as he is the founder and master of the MVP, minimum viable product. If you have any questions, feel free to reach out as I was in a similar situation with my venture and in the EdTech space.
IT Software Development and Architecture
Are you talking about tweeting replies based on keywords in a tweet directed towards a specific @user? If so, then you should be able to find a developer to create a simple Twitter bot for you. You can get really fancy with it and even train an AI model to come up with replies on its own. Analyzing data is a much different beast than a Twitter bot. For one, Twitter data is unstructured data. Also, how do you want to analyze this data and how do you plan on using these results? That makes a big difference in the direction that the real answer to this question will take. There are a number of different tools available, but it's probably going to require a hybrid solution of custom programming on top of using the tools available.
Product Manager turned Entrepreneur
Good question Brian. I am always a fan of a free trials or even better, the free tier. The later you have to watch out as you could be stuck a situation where you can't convert people to the higher tiers, but all in all what you are trying to do is show people the value your product provides and the best way is to have them see it with their own eyes. Once the user sees the value your product brings them then they will easily jump on board to becoming a paid customer. Also, be sure to get feedback from your users, especially ones who convert to paid customers. You could interview them or survey them understanding what value they got out of the product, but the paid customer provides the best insight, none paid can sometimes have you chasing your tail! Good luck and keep hustling!
SaaS - Enterprise & SMB B2B
8
Answers
Founder of Partnerhub®
Quora to show subject matter expertise and 'nurture' your relationship with cold leads to generate more educated and eager signups. We did an episode on Quora marketing: (https://anchor.fm/marketing-automation/episodes/A-Quick-Intro-To-Quora-Marketing---General-Strategy-e1vlpr/a-a4noru) https://youtu.be/X9Akg7Z-KPI?rel=0 In fact, Quora is getting pretty busy due to the fact people like me have gotten very good at marketing on Quora. The ‘white hat’ version of this is below. I consult with founders and marketers to help them execute on this very strategy to help grow their personal brands which inevitably grows their business. The name of the game for marketing on Quora is showing THOUGHT LEADERSHIP (https://right2revenue.com/managed-thought-leader-creation-program/). This will result in: 1. More credibility to whatever you promote anywhere. 2. Recognition of your brand (it shows up next to your name if you edit your tagline correctly). 3. Targeted and educated traffic to your landing pages. Here are the steps in this thought leadership strategy: **Step 1 = Choose a topic** * Strategy: I start with the focus keyword for your product/service. For an example, I am about to focus my attention on the keyword “thought leadership” because I want to find those most-interested in building their personal brand recognition and credibility in a field (i.e. a Quora topic). For a founder of a SaaS tool, this would probably be the pain point your tool solves - the search term that you want to get traffic from. **Step 2 = Create a sheet with question links, total answers, views of the top answer, average views per answer (if you have time), and followers.** * Strategy: You need a formatted database of the potential for your content on quora so you can prioritize your time. * How data-miner, but I employ a team of data specialists trained in grabbing the right content from the right places on Quora (https://right2revenue.com/product-category/data-enrichment/), and then going about enriching that data to grab linkedin profiles and email addresses. **Step 3 = Answer them in a google doc** * Strategy: This is so you can make copies of the content and turn it into multiple types - i.e. a linkedin article, an article for your blog, a number of tweets… Also, if you have collaborators (editors), you can simply give them access to this doc. * How: Simply create the doc and share it. One doc per question. **Step 4 = Edit and publish related answers as an article on your blog** * Strategy: You want to have it on your blog and indexed first so you have attribution and the chance to outrank the quora question with the same headline, or at least be close to it. * How: Add the version of your answer to your blog. **Step 5 = Submit that article URL to google to be indexed using your webmaster tools (search console)** * Strategy: As mentioned, you want google to crawl/index your answer on your site before they index the same text on quora. * How: Head to your webmaster tools (https://www.google.com/webmasters/tools/) **Step 6 = Bring your friends and colleagues into a Quora ‘Pod’** * Strategy: You need initial engagement to ensure exposure of your answers. The first 24 hours are key, so find a group of people who also publish on Quora and create your own pod. * How: Reach out to colleagues, ask if they answer questions on Quora. If so, start a WhatsApp or Telegram group and invite them. Post links and share there. **Step 7 = Publish the answers to Quora** * Strategy: Now that the answer is on your blog, go ahead and format it for Quora. A video is ideal, but at least add some images. * How: Head to http://Quora.com (http://quora.com/) **Step 8 = Share the links to the answers with your friends and colleagues.** * Strategy: This is where you post to your pod or email/message friends to engage immediately after posting. * How: Any way you prefer. Or... hire me to do it all for you :) ~~<>~~
IT Software Development and Architecture
They have to be PCI Compliant. https://www.investopedia.com/terms/p/pci-compliance.asp
Strategic thinker and communicator, author
Hi: Congrats on getting the ball rolling with your business — and generating some interest from potential customers and investors. As to your question, when a potential investor asks about your cap, they’re referring to the valuation cap you’re setting on your convertible debt issue. That would be the maximum valuation at which this issue would be converted into equity when its term expires. Frankly, if you aren’t even incorporated yet you might want to pause the fundraising and focus on firming up your company’s foundation. You’re off to a great start but there’s a lot more to building a business than a prototype and some cash from a VC type. If you wish to discuss, send me a PM through Clarity for 15 free minutes. Cheers, Kerby
Strategic thinker and communicator, author
Hi: Sounds cool. Not clear on your target export markets, but some things to consider: 1. Identify your optimal customer and the problem you're resolving for that customer. Quality? Cost? Availability? 2. Research the pathways your product has to get into that optimal customer's hands. Wholesalers/distributors exist across the food business (at least in the US), so they would be a must for this market. Furthermore, how does the end-buyer actually purchase goods like yours? There will be differences between a retail buyer and an institutional buyer. 3. Develop a promotional plan for each of those targeted audiences based on standard approaches, which might include trade shows, personal pitches, in-store demonstrations. If you wish to discuss, send me a PM through Clarity for 15 free minutes. Cheers, Kerby