Reply to: Business Scenario - your view

[Xenophon]

Come on el duder, give us the details. You have been given a lot of advice here. What is the deal? It sounds pyramid shaped.

[oraclesmith]

You mentioned your potential customers feedback was that they had bad experiences with other companies in the past. This could be a key differentiator for you, although you might have to overcome implicit negative reaction to your own offering (ie. these customers may assume you're one of the bad ones too, because you haven't told them you're better).

Also, although you only need 216 clients, at this point you don't know how much marketing effort you need to pump in to get them. At the moment, you have spent £1000 and have £200 in potential profit from sales. You could, if you have the funds, pump in a further £42,000 to get your 216 clients and still make a profit (only £200 though!).

You also need to figure out how much effort to put in above the line advertising versus targetted marketing to individual potential clients. The former is not easily tied to the number of leads you get, whereas the latter will give you a good idea of leads per £1 spent and hence whether you will be successful. It would help if you told us how much you've spent on each marketing method.

[el duder]

Bleak

If you spent 1k on pr, your curstomers would have to spend 1k in ignorance. Unless your running sheilas wheels or HCA, your PR better make people remember the world will end unless they buy yur product.

its a good point.

[Helios]

as u well know ive started my own businesss.

for the business to be successful, i need to acquire 12 customers/clients per week for 18 weeks.

I have already taken 1 booking and 4 enquiries for potential bookings for dedicated weeks.

i have spent 1,000 GBP on advertising and promotion across different channels, online, print, etc...

how does the future look?

Bleak

If you spent 1k on pr, your curstomers would have to spend 1k in ignorance. Unless your running sheilas wheels or HCA, your PR better make people remember the world will end unless they buy yur product.

[Andyw]

how about toothpaste, mind you I think some blokes in the office have already bought some !

[el duder]

Sorry mate but knob cheese ? a viable idea.

I don't think so myself.

what so u dont think there is a need for it?

i basically make a paste with it, sell it in jars for 400GBP to spread on toasts.

they love it out in china.

[supremepods]

why do u need to slag me off?

its a viable idea. knob cheese.

Sorry mate but knob cheese ? a viable idea.

I don't think so myself.

[Andyw]

lol !

MULTI LEVEL MARKETING !

[el duder]

errrrrrr ...............how about tulip ?

Do we really have to persevere with this ?

Wheres that prat mailman when I need someone to slag off.

why do u need to slag me off?

its a viable idea. knob cheese.

[oraclesmith]

Ok I still think you need to apply some estimation to it, even if you think you'll end up with a huge market. For example do you know how many of the average priced products get sold each month/year ? eg. the market may be 1.5 million, but if you're selling, say, coffins, your absolute best performance will be one sale per client lifetime, not one a month !

Assuming that there is a big untapped market and you're being competitive, then I would suggest that you haven't reached critical mass with your advertising/marketing efforts yet. Can you tell us exactly what you've done so far ?

[supremepods]

as u well know ive started my own businesss.

You haven't have you ??

for the business to be successful, i need to acquire 12 customers/clients per week for 18 weeks.

You recon ?

I have already taken 1 booking and 4 enquiries for potential bookings for dedicated weeks.

That'll be 1 booking then

i have spent 1,000 GBP on advertising and promotion across different channels, online, print, etc...

1,000 big ones eh ? Where did you get your MBA again ?
how does the future look?

errrrrrr ...............how about tulip ?

Do we really have to persevere with this ?

Wheres that prat mailman when I need someone to slag off.

[el duder]

Not one of those pyramid selling thingies

it doesnt matter what it is does it? as long as the numbers add up.

its a retail item basically.

[Paddy]

thats a tough one. out of 1.5 million potential clients?!?

i have spent 1k so i would have hardly scratched the surface of that number.

but im only after 12 clients a week. 216 in total.

216 of 1.5 million whats that percentage?!?

what i do have going for me is this. the average price of this product is 650GBP

i am selling it at 400GBP

Not one of those pyramid selling thingies

[el duder]

Do you know what proportion you might have reached already ?

thats a tough one. out of 1.5 million potential clients?!?

i have spent 1k so i would have hardly scratched the surface of that number.

but im only after 12 clients a week. 216 in total.

216 of 1.5 million whats that percentage?!?

what i do have going for me is this. the average price of this product is 650GBP

i am selling it at 400GBP

[_V_]

lets just say the whole market is very fragmented.
total UK market 1.5million
.

Something for Labour Voters? Phoney Tony commemorative plates