Diary of Opening A New Business

[LightHouse]

Actually we are selling both. They go together, I just don't want to give away to much here. (niche market) and 3 of the 6 are fulfillment. Ultimately in the next 24 months, I am hoping to need a 100,000 sq ft warehouse along with the office staff... I would rather not say more, not that it is a big secret or anything, a ton of people do the same thing, just not yet..




Not, yet, one of the salespeople has 2 friends, that she thinks will work, I can fill spaces, just not looking to do that, I am still not 100% confident with the system yet, how to sell, how to train, so I am being selective, I just need to get training and an average down and then I will hire and hire...

Well up to the 10 people we need... It is a niche product so not that many people to call.

I certainly understand your need for not disclosing the product. i was curious because you have only talked of sales folks and selling, not the "not-so-fun" stuff like order fullfilment and customer service. Since both of those have to scale respective the the amount of sales and sales people you hire.

 

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[JEdwards]

The question was about the format and setup for your sales training materials. Was thinking it might have been a turnoff and a reason for staff not showing up.....in addition to the 'there is no one else here doing it too' issue that you may have solved.

Congrats on the sales. What are you using for lead gen at the moment? Any tracking software?

I think the shear size of the office, you know when someone says you can make 70k next year, when they are in a 900 sq foot office it might be hard to believe in that, or really maybe they don't want to be part of a start-up. Especially when no one around is doing it.

Thanks... I have every one in the the market already downloaded and on file, and yes we use a step by step old program we had built years ago.

 

[JEdwards]

I certainly understand your need for not disclosing the product. i was curious because you have only talked of sales folks and selling, not the "not-so-fun" stuff like order fullfilment and customer service. Since both of those have to scale respective the the amount of sales and sales people you hire.

Yea, that is the tricky part, right now we just need to sell the deal...

All the rest will fall into place. and actually, the number of fulfillment people will be twice to three times as many sales people.

Thanks

 

[andviv]

Jack, you have me really thinking about the product/service...

I really enjoy this thread. Thanks for posting about this.

 

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[Blu]

Great post!

One question going back to something you said earlier, how did you find the guy who was going to be your right hand man? What kind of qualities did you look for, and what is his remuneration like? I only ask because I imagine I would have trouble finding someone I could trust, but also paying them enough for them to be loyal.

 

[JEdwards]

One question going back to something you said earlier, how did you find the guy who was going to be your right hand man? What kind of qualities did you look for, and what is his remuneration like? I only ask because I imagine I would have trouble finding someone I could trust, but also paying them enough for them to be loyal.

Thanks.. Its tough, you just have to know they can do what you need them to do, and pay them accordingly with a kicker of a lot of $$$ if it works out.

 

[JEdwards]

I am in a great money making mood today.

After a long icy Thursday, snow starting Friday, it was a beautiful weekend, went for a long drive in the hill country...

I am ready now to get going. Hopefully this is the week we hire a few new people, that is the only problem I have right now.

 

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[JEdwards]

Friday update, before happy hour.

This week sucked, we could not carry our average from last week before per person, but I have hired a few more people. I think that is what is dragging us back. The peeps helping the new peeps, which take them off what they should be doing... Selling.

Changing a lot of things, quickly. It is amazing how many different things you need to do to just make one change.

I feel though that everything we are doing now is adding value to the customer in the long run, which will help sales, in the long run.

To say I am not disappointed a little is an understatement. Oh well next week will be better.

I think I might break out a cuban tonight to make myself feel better.

Jack

 

[Kung Fu Steve]

I'm sure you're not looking for advice, but have you ever read "The Ultimate Sales Machine" by Chet Holmes?

If not, I would highly recommend it...

 

[JEdwards]

I'm sure you're not looking for advice, but have you ever read "The Ultimate Sales Machine" by Chet Holmes?

If not, I would highly recommend it...

Between 16 and 25 that is all I did, read books on business, I cannot stand them now.

I didn't mean my post to be negative, Everything is a building block, Rome was not built in a day.

Overall I am happy with the progress we are making.

 

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[ZCP]

The key is being able to say you are a little further than you were.

 

[JEdwards]

Quick update.

Things are going great, I think we have changed a lot of things and going a little bit in a different direction, but everything is a learning process, as of now I am 6k -8k into it, so I am not even close to spending my original 15k, but i am burning through quite a lot of cash a week, I am sticking to my guns though, by the time I run out of the 15k I will be cash flowing this business..

Had to dump the voip for regular lines, hired a few new people, a few other people quit, back and forth but now I have a few solid sales people who I believe are not going anywhere, so now it is just building on that. I am still not 100% confident in our ability to train yet, but working on it.

I am getting excited, will keep you guys posted about sales etc as we go along.

 

[valuegiver]

Well said, Sir. Reading too many books often doesn't translate to actions.

Between 16 and 25 that is all I did, read books on business, I cannot stand them now.

I didn't mean my post to be negative, Everything is a building block, Rome was not built in a day.

Overall I am happy with the progress we are making.

 

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[Anon3587x]

I find myself "over" the motivational book stage as well.

Felix Dennis, Napoleon Hill, MJ DeMarco*, and a few other random authors have put me on the right track and I'm good to go!

 

[D.J.]

Great work Jack. I'm rootin for you man, once your original 15k runs out i have no doubt that you'll be making enough to fuel your business to the next level.

VOIP can suck it.

Why do you think all these people are bailing on you? You've had more quitters than I have heard of in quite some time.

Anyways, good job man, and good luck on your upcoming sales.

 

[CVentures1B12]

People quit because it's "risky" and there is no "security." When in reality, them looking for a JOB is exactly those two things!

Keep up the great work, Jack! I love the thread!

JC

 

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[JEdwards]

Why do you think all these people are bailing on you? You've had more quitters than I have heard of in quite some time.

Anyways, good job man, and good luck on your upcoming sales.

Thanks.

Lack of everything, before I was in business for a long time, and had everything in place, now with this small office, bad furniture, them walking into an empty office, the phones don't work right, not really 100% ready with a training program, no other people around, etc.

Maybe at this point they think we are flakes, don't know, but now we have a solid 6 so now it is just a matter of time till the new people start feeling it is legit and will stay.

I think we are pretty close to where we should be.

 

[Davidla]

Great work so far Jack!

++Speed!

Following with interest.

A few questions about the management side:

How do you think your employes view your company? do they feel excited about it succeding aswell?

What would you say about the working atmosphere you have in the office? (are there friendships forming etc?)

Looking forward for updates.

 

[Blu]

Why dont you just tell them that the office space is temporary, that you are waiting for a better space to become available.

Also, with all the businesses going down at the moment you can prob pick up some great second hand furniture for the same price as brand new cheap furniture.

Have your VOIP issues been resolved?

 

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[JEdwards]

A few questions about the management side:

How do you think your employes view your company? do they feel excited about it succeding aswell?

What would you say about the working atmosphere you have in the office? (are there friendships forming etc?)

Looking forward for updates.

Thanks for your response.

Here is the deal with that, with anything sales related you must sell the dream first, I honestly believe they can make 70k-100k a year, so I am trying to make them drink the cool aid and believe that themselves.

Friendships, not sure about, but they will happen, just takes time.

Why dont you just tell them that the office space is temporary, that you are waiting for a better space to become available.

Also, with all the businesses going down at the moment you can prob pick up some great second hand furniture for the same price as brand new cheap furniture.

Have your VOIP issues been resolved?

Thanks for your response.

I do tell them that the space is temporary, as we have first right of refusal for the 2200 sq ft space next door. I tell them, The thing about the furniture is not the reason they are not staying, it is all about the system.

Let's face it, most people don't like the pressure of a real 70k a year sales job from the start, so to throw in a feel of being unorganized, lack in training, is what is rubbing them the wrong way, I feel we have come a long way in a few short weeks, as I said now when potentials walk in, there are people selling, action is happening, so now it is just a matter of time, before they stay, my bet the new peeps more and more will stay, the only reason they would leave now is if they can't cut it or I fire them.

 

[JEdwards]

Great Day today. Closed a big deal, got an email from someone else that wants to move forward in April.

I have been working on this other idea I have had for a while, But I would need vested suppliers, well, I had one of them offer me $240k in funding today. (all that I need, and the first guy I pitched) Not sure if I am going to take it as I have a lot of other pieces to put together, I kind of wanted to spread it around to some other suppliers, so they have an interest in me making it. It was too easy though. 1 hour in he asked why I would want someone else to put money in when he was willing to do the entire thing.

This is starting to be a lot of fun.

 

[theBiz]

VOIP can suck it.

does everyone have issues with voip lines?

what is the average cost of voip?

What is the average cost per person now that you have switched to regular phone lines, are you calling nationally?

I would appreciate a price breakdown as im looking into this myself and i can not afford the "no experience, trial and error issues" im sure i will face off with. thank you

 

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[JEdwards]

Quick Update:

Business has been going well. The business is cash-flowing itself. So Step one is accomplished, now it is all about scaling up. I expect many more hiccups, but we are looking pretty good. Finally got a ringer salesperson, so she is dragging up the others.

The regular lines were 50 -60 bucks a month with unlimited long distance, so it doubled what I was paying before, but now I am not hearing "can you hear me" anymore.

 

[Boo Blizzi]

this is really inspirational...to bootstrap a company with 15k and it have multi-million dollar potential...NICE!!

 

[JEdwards]

Thanks...

 

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[theBiz]

yeah this is amazing for sure, starting with such little capital and having potential to make millions.

 

[Boo Blizzi]

any updates Jack?

 

[theBiz]

ive been waiting for some updates as well to be honest.

 

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[JEdwards]

Quick update.

Moving to a bigger, (not much) just better suited office at the end of the week. Still on month to month. Wish I knew exactly what I need space wise, cause I feel within 6 weeks I will be moving again, but I do not want to over pay or get something to small, right now I am not sure what i will end up with, I am thinking 4k sq feet, just not sure of the layout yet. At this point though every dollar counts.

Friday bought some new-used furniture, have to move it today. Not looking forward to that. I need to buy some cubicles, not looking forward to that either cause cubicles are a pain in the a.. to move and set up.

But that will be when I move to the bigger office, (I literally gave away 32 nice cubicles when I sold my last business. I wish I had those back)

Sales are going. New employees are there, Still trying to hire everyday.

The plan is in the next 90 days to have 25 full time employees. Let's see what happens.

 

[darkjediii]

Very nice Jack, good progress. I've seen businesses that have taken a year plus just to get where you're at now.