Continuing my business with my savings

By : Forum Member
Published 5th December 2017 |
Read latest comment - 12th December 2017

I don't think it's a good idea but it is what I am doing right now. I am keeping my business afloat but only with my savings. However, my savings are running out so fast. I did a beta launch of my program and it did pretty well. But after relaunching it three times, I've got no sales. I'm not really sure what's wrong with it. I don't want to take another client because I am tired of making tons of money for them. I want to make myself a millionaire. What do you think would be the best plan of action in my case?


redstone
Share this post, email or print
Comments
I But after relaunching it three times, I've got no sales. I'm not really sure what's wrong with it.”
 

Have you done a focus group or a review process to find out the answer to this? If you don't know what is wrong with it then you can't change it to make it more desirable.

What is your product? Can you give some people a free trial and get their feedback? It might be something simple that needs tweaking or (hopefully not, but) a case of cutting your losses if it is really not working.

I am sure people on this forum would be happy to help test and evaluate.


Many thanks,
Natalie - Your Local Girl Friday
Who is Natalie? Ltd

 I've got no sales. I'm not really sure what's wrong with it. I don't want to take another client because I am tired of making tons of money for them. I want to make myself a millionaire. What do you think would be the best plan of action in my case?”
 

Your statement doesn't make any sense 

"I've got no sales", yet you don't want to take on any more clients because you are "making tons of money for them"?

If you have a proven product that is genuinely effective, then those happy clients will give you both testimonials and referrals. I assume you are charging your clients, so why aren't you making any money?

Make sure you have a genuinely costed product with profit margin. Then work out the average acquisition cost for new clients and put this aside as your marketing budget. Work out many clients you need to cover your overheads including ongoing marketing and give you an acceptable profit.

It may be that you do the sums and you realise the painful truth that you don't have viable business. In which case cut your losses, regroup, analyse your data, learn, then look at a different opportunity.

Keeping a business afloat with savings isn't a business, it's an expensive hobby


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

Are you saying you've created products for clients that have done well but when creating your own product to sell yourself it's not done well? Maybe make more successful products for clients and take a cut of any profits it makes or charge more? I'm unclear what your business model is. 


Thanks, Rebecca, Proofreader Extraordinaire
Anarchy is as detestable in grammar as it is in society. Maurice Druon.
Pay for Precision | Proofreading, copy-editing & copywriting.

I was a marketing consultant before. After I get the golden handshakes for making automation funnels for them, I move on to another client. But now, I let go of all my clients to focus on my own thing and it is not working. I am confident that I can scale the businesses of my clients but now that I am selling my coaching program, I am having conversion issues. I actually just hired two phone sales rep that will help me to talk our way out to get sales. Aside from the sales rep, I also have daily sessions in which I talk to a counselor to address my mindset on doing business. I'll give it a month to see if there would be any improvement in my case. Hopefully, there will be.


redstone

I actually just hired two phone sales rep that will help me to talk our way out to get sales. Aside from the sales rep, I also have daily sessions in which I talk to a counselor to address my mindset on doing business. I'll give it a month to see if there would be any improvement in my case. Hopefully, there will be.”
 

Hi Redstone, not sure why you were linking to betterhelp dot com. Seemed a little odd as it was just a blog article. 

If you are offering coaching services, a good sales vehicle for that type of business can be LinkedIn. A business coach I use generates all his leads from LinkedIn and swears by it. Have a clear marketing plan/strategy with realistic goals and following it can help keep a positive mindset.

Hope it works out for you, let us know how you are getting on.


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn