Hello,
I have been working on my business for more than a year, and have yet to earn revenue. The goal of the business is to help introduce them to cost effective HR strategies that could save them up to $54k in the first year of a veteran's employment / internship with the company, which would also add money to the veteran's income as well. The value proposition is that I know how to navigate the processes necessary to accomplish that task.
I'm interested in hearing feedback about what I may be doing wrong. Happy to discuss further if anyone has questions.
Answers
There are a few things I would examine in your business and a few marketing strategies I would try.
First, is your brand resonating? If not, maybe revisit that and rebrand to speak more to your target audience.
Second, is your messaging on brand? Menaning does your wording, website, other marketing materials, and pitch peak the interest if your ideal client? If not, find a marketing coach who can help you determine and fix this.
Third, are you spending too Much on overhead costs? Often new businesses will signup for and pay monthly for things they really don’t need or are the “expensive” versions of programs etc they can find cheaper if they knew about them. Find a consultant who can help you find these costly items and replace or eliminate them.
Fourth make sure you have a CPA. You don’t want to get caught not doing something right come tax time.
Fifth, Network like crazy. Find out on linked in a few people you would love to meet and ask them via messenger if they have any networking recommendations. Most people are willing to “help” you find good groups! Go to these groups and meet this ideal client. Build the relationship from there!
Hi Robert,
Here are a few ideas:
1. Try to find a connection to a HR professional in the sectors you are targeting, and simply ask them to review your concept. Basically instead of it being a sell activity, it just being a fact finding/stress testing/informational interview. Maybe there is some small issue that you need to unlock for it all to work. Finding this contact could be through personal relationships/network, this site, local veterans group, cold call/email, etc.
2. If you find people are interested but still a little hesitant (i.e. struggling to close), maybe offer A) discounts for being a case study, B) pay only afterward if they see benefit, 3) money back guarantee, 4) or even a free sample (again tied to being a case study).
3. Are there other related fields you can reach out to (i.e. talk to an accounting firm or a HR consulting firm) to have them add this service to their portfolio of services (so they bring the clients to the table).
4. See if there is a SCORE mentor in this field (https://www.score.org/)
You've likely already tried a number of these. Good luck and please reach out if I there is anything I can do.
-Paul
As an ACP AdvisorNet staff member, I assist in monitoring and building the ACP AdvisorNet community.
Hi Robert,
Thank you so much for your service and for submitting your question! Have you tried messaging advisors directly to get their feedback? I suggest going over to our community tab and writing in your zip code and area of expertise that you are looking for. This way, you will be able to find people in your area that can help you with your small business question.
Best,
Yasmina
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