• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Not sure when to give up on my idea

Discussion in 'Ideas, Needs, Concept Feedback' started by LiveEntrepreneur, May 17, 2019 at 1:13 AM.

  1. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    So been trying to get the ball rolling on this idea for the last couple of months and not a single dollar made yet, I don't know when is a good time to give up. My plan definitely did not go to plan, I thought it would of been a matter of running some Google ads for a few weeks and hopefully get some emails so I could contact them. But the keywords are very competitive and cost too much unless I do it in a country like India, even then it's somewhat high. But then there is the "I don't know what I am doing exactly", so I might end up blowing hundreds of dollars like I already have to learn it and to find out later it was a huge waste of time.

    I did have one chance before but nothing end up happening, where I had 2 clients but they stopped responding to me.

    How do you guys decide when to give up?
    Also do you think it is a bad idea doing a idea you have very little interest in? I don't really care much about the market I'm serving but I get the feeling I'll probably get motivated once I make a sale, because I will know then that I'm making progress.
     
  2. Duck
    Offline

    Duck New Contributor Read Millionaire Fastlane

    Messages:
    8
    Likes Received:
    8
    Joined:
    May 15, 2019
    Gender:
    Male
    Location:
    Denmark
    Rep Bank:
    $42
    Only give up on a thing if you have a new and much better plan in place. Generally, sticking to just one thing will get you the longest in life.

    To me, it doesn't seem like you have much experience with Google Ads. Going for high competition keywords, without completely knowing what you are doing, is probably not the best idea in the world. If I was in your situation, I would maybe try and consult a Google Ads specialist and let them help determine what it will take to start seeing results and if it is realistic for your business.
     
    ruzara5, Kid and Xeon like this.
  3. Jaden Jones
    Offline

    Jaden Jones Igloo Builder Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    221
    Likes Received:
    266
    Joined:
    Aug 22, 2018
    Gender:
    Male
    Location:
    Canada
    Rep Bank:
    $1,407
    ^^^^This right here is your issue, you need to care about what you do, or you never be fully in. If you cant find a way to care about what your selling and the people you are serving than you should give up.
     
    S. Brown, NMdad and LiveEntrepreneur like this.
  4. AdamMaxum
    Offline

    AdamMaxum a worthy successor indeed Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    383
    Likes Received:
    434
    Joined:
    Apr 30, 2011
    Gender:
    Male
    Location:
    NY
    Rep Bank:
    $2,040
    hmmm...based on your post I would abandon the idea. ...it doesn't sound like you did any pre-planning to the marketing strategy because you can easily see the CPC on keywords in Adwords and know it's going to cost X amount to test the waters. I wouldn't rely on Adwords to jumpstart my business unless it was a local service based business and I had a few thousand to pump into Adwords while I work SEO in the meantime. These days you're going to need like $500 to test Adwords on any idea really.

    Also, expecting to "get excited" about your business after a sale isn't something I recommend. Depending on the business model, you might not make money for awhile. Which is fine in some cases, but that shouldn't be your motivation for starting a business. if it is...I recommend a service based business where cash flow happens as soon as you get your first client.
     
    Xeon, NMdad and LiveEntrepreneur like this.
  5. Andy Daniels
    Offline

    Andy Daniels Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    143
    Likes Received:
    274
    Joined:
    May 29, 2017
    Gender:
    Male
    Location:
    Oregon
    Rep Bank:
    $1,753
    Always remember that failure is part of the process. It means you took action, it just didn't work out.

    Maybe you could adjust your idea and take it another direction? Keep on testing the market and figure out what works.

    Ready, Fire, Aim
     
    THaT.Brand, Kade and LiveEntrepreneur like this.
  6. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    I didn't do any. I tried to follow the lean startup approach of doing the MVP landing page and Google Ads. It is interesting that there is no tutorials on it, I wonder why that is.

    In terms of motivation I don't know that I had any motivation to start this, I just saw that there was a market to be filled. Lots of different advice here, not sure what is the right one. For example this forum focuses a lot on filling a need in the market/solving a problem and that, which makes sense and all but some say focus on a idea you like and vice versa. Maybe it's just a case of different things work for different people?

    The idea I am currently working like I already mentioned I'm not excited about it, but the previous idea I was excited the main reason was that the feeling of owning my own platform and owning a "business" if I can even call it that lol. But the actual desire to want to work in the space I don't think had it. At the start I thought I wanted to help people in the area but now I just don't care maybe it's because I am not getting results? Not sure.
     
    Xeon likes this.
  7. MHP368
    Online

    MHP368 the man, the myth, the Pseudo-Apollodorus Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    260
    Likes Received:
    366
    Joined:
    Aug 17, 2016
    Gender:
    Male
    Location:
    Sahuarita AZ
    Rep Bank:
    $1,461
    well what exactly are you doing?

    show us a spreadsheet of the keywords your bidding on and how you've researched the costs on them

    how much money have you lost?
     
    Kid likes this.
  8. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    So I've done a few different things I'll list a few. With the money lost I say easily over $300 dollars. But I am trying to get my for example logo designers work. So I'll try bid on words like "hire web developer" but as you know it's expensive.

    With the research cost, I just looked the "Bid Top Of Page (Low Range)" and high range

    I don't have a spread sheet, the way I found the keywords is just with Google keyword tool, and I try to select for most relevant keywords, in the example of web developers this is the words that I used:

    "find a web developer"
    "where to find a web developer"

    "where can i find a web developer"
    "how to find a web developer for startup"

    "web development services india"
    "top web design companies"


    I did make the mistake of broad keywords but now I keep them phrase or exact depending on the word. But sometimes I'll have one of each.
     
  9. astr0
    Online

    astr0 Grinding Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    207
    Likes Received:
    259
    Joined:
    Dec 3, 2017
    Gender:
    Male
    Location:
    Lviv, Ukraine
    Rep Bank:
    $1,644
    Try hanging out in places online where your prospects are. LinkedIn and cold calling/emailing also work.

    If you would have rather long relationship with the same client, you can afford a few days looking for them.
     
  10. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    I tried a while back FaceBook, messaging people in logo design groups but not much luck.
     
  11. astr0
    Online

    astr0 Grinding Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    207
    Likes Received:
    259
    Joined:
    Dec 3, 2017
    Gender:
    Male
    Location:
    Lviv, Ukraine
    Rep Bank:
    $1,644
    Are you sure that people who need logo design are hanging in logo design groups?
     
    LiveEntrepreneur likes this.
  12. Lex DeVille
    Offline

    Lex DeVille Sweeping Shadows from Dreams Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,608
    Likes Received:
    16,996
    Joined:
    Jan 14, 2013
    Gender:
    Male
    Location:
    Oklahoma
    Rep Bank:
    $54,518
    Are you trying to do logo design work or web development? If it's logo design, then bidding on unrelated keyword terms doesn't make sense to me.

    I search for a web developer when I want to build an app. I search for a web designer when I want someone to create a branded wordpress site. I search for a graphic designer, logo designer, or graphic logo designer when I want a logo.

    I don't respond to Facebook messages from people I don't know, but I do respond to people who answer my questions in groups when they aren't leading me back to a web link.

    Are people in a logo design group really looking for logo design? My guess is those who have the money to pay for it and would be serious about it probably aren't spending time in logo design groups. They spend time in groups related to things they do. For instance, high-ticket coaches spend time in high-ticket coaching groups.

    You're not serving the market if you don't have any customers. What made you think this was a good idea in the first place? There must have been some reason you decided to test this path.

    The market for logo design is already tested and proven. So there's no reason to do more testing on it (assuming I haven't misunderstood what you're offering). Go on one of the freelance platforms, Upwork, Fiverr, PeoplePerHour etc. Post your stuff. Apply to gigs. Start making money. Isn't that an option?
     
  13. itfactor
    Offline

    itfactor New Contributor I've Read UNSCRIPTED

    Messages:
    18
    Likes Received:
    14
    Joined:
    Saturday
    Gender:
    Male
    Rep Bank:
    $60
    Hi OP, I noticed you’re from down under.

    Have you tried looking for clients locally? You might be able to find some low hanging fruit in your area.

    Try talking to your local target audience. if you’re lucky you might even learn more about what makes them tick, and tweak your ida to target them better.
     
  14. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551

    Hey thanks for the info. I am not doing logo design I am connecting people who are looking for logo with freelancers. I already have the freelancers ready and they want work but I can't get the people who are looking for logos.


    This sounds about right and might be why I am not not getting results:

    "Are people in a logo design group really looking for logo design? My guess is those who have the money to pay for it and would be serious about it probably aren't spending time in logo design groups. They spend time in groups related to things they do. For instance, high-ticket coaches spend time in high-ticket coaching groups."


    The reason I started this idea is because I saw that freelancers needed work. Now I am serving two markets and there are people looking for logos.

    "Post your stuff. Apply to gigs. Start making money. Isn't that an option?" - This here, I am not looking to be a freelancer not my goal.
     
    astr0 and Lex DeVille like this.
  15. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    Nah, I haven't tried that. Not really anybody I know who is looking for a logo. Was looking to see if I could do it online somehow.
     
  16. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    I thought they might but doesn't seem like it. There are a few people that were looking for logos but not really any responses.
     
  17. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    I'm pretty lost atm, not sure where to go next for this. One thing I realized with this idea I am more like a logo design agency lol. Not really keen on that.
     
  18. astr0
    Online

    astr0 Grinding Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    207
    Likes Received:
    259
    Joined:
    Dec 3, 2017
    Gender:
    Male
    Location:
    Lviv, Ukraine
    Rep Bank:
    $1,644
    My friend started his first 3D-art agency business by reselling gigs to cheaper freelancers and controlling their work. He was freelancing himself pretty successfully first though so had all the rep and client base.

    That approach won't work with logos, I guess. People do need much 3D art for a game, cartoon or video clip. But they only need one logo. So the LTV is much lower unless you go full boutique with crazy prices. That's not easy and would take time to build.

    Maybe partner with freelancers who are doing web design or copywriting so they would try to sell your service to their clients? Really have zero other ideas from the top of my head, seems pretty hard to do what you want, especially at the beginning.

    A logo is pretty unique in a way that there's no such thing as a good logo really. It's either ok or crap. And enterprises don't want crap to be printed or engraved on their products worth millions in total. So they would pay a premium to a company that is known for making only ok logos for the same or bigger clients. But it's kinda hard to get there...
     
    Last edited: May 20, 2019 at 6:34 AM
    LiveEntrepreneur and Lex DeVille like this.
  19. S.Y.
    Offline

    S.Y. Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    131
    Likes Received:
    337
    Joined:
    Oct 4, 2017
    Gender:
    Male
    Location:
    Canada
    Rep Bank:
    $1,977
    Go back to ground zero:
    1. People looking for logo design have a real job they want to get done. What is it?
    2. Where/how can you find those people?
    3. How can you grab their attention?
    4. And once you do, why should they listen to you?
    Last week I needed a logo to be designed. I was looking for something clean and simple that would represent the company.

    The "real job" in my case was someone that will talk to me to understand the idea behind my company, the type of logostyle I want and fetch it out at a decent cost.

    90% of "logo designers" didn't bother interacting with me really. They asked 1-2 questions and that was it. (Their submission were also a bunch of generic logos pieced together.)

    That was a pain for me - an easy attention grabber. And it was barely addressed. I almost didn't get the thing designed.
     
    astr0 and Lex DeVille like this.
  20. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    1. I assume they just want a well designed original logo
    2. I don't know where, I tried Google Ads and Facebook and failed.
    3. Well, if it's online I could have a website with good copy writing, or when messaging people I could have an attractive message like, "I have designers who have well over 10 years of experience in design and they really want some work, so I have no doubt you will get an amazing result"
    4. They should listen to me because, they will save money by not having to pay me any fees, also I will connect them with the right designer so they get the result they are after.
     
  21. astr0
    Online

    astr0 Grinding Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    207
    Likes Received:
    259
    Joined:
    Dec 3, 2017
    Gender:
    Male
    Location:
    Lviv, Ukraine
    Rep Bank:
    $1,644
    Sorry, I'm not buying that as a hypothetical client. If they want some work that means that they can't get enough work so something's definitely wrong with them as they should be getting more work from recommendation after making decent logos.

    Try more you-oriented and results-oriented approach... The market doesn't care about you and your designers, it only cares for what it wants from you or your competition.

    Before even thinking about web site think how can you can get leads there profitably. A web site that's just there wouldn't give you any benefits, only the hosting and domain expenses.

    Are logos that expensive nowadays? How much approximately would you or your freelancers charge for a logo? Do people are really looking for the cheapest logo, especially if they plan to build a brand with it?


    I highly recommend checking "The Futur" channel on youtube. This applies not only to the logos but, well, he's in a business of making logos.
     
    LiveEntrepreneur likes this.
  22. Kade
    Offline

    Kade Contributor Read Millionaire Fastlane

    Messages:
    30
    Likes Received:
    51
    Joined:
    Jan 6, 2017
    Gender:
    Male
    Location:
    France
    Rep Bank:
    $199
    Are you telling people I am doing logo design, or telling them you can put them in contact with someone who can help them ?

    Edit: Wow yes, this is the right question:
    People looking for logo design have a real job they want to get done. What is it?
    You could also offer them additional services.

    Maybe read this thread: GOLD! - How to create monetary wealth in just 5 years. (Or less!)
     
    Last edited: May 20, 2019 at 9:46 AM
  23. S.Y.
    Offline

    S.Y. Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    131
    Likes Received:
    337
    Joined:
    Oct 4, 2017
    Gender:
    Male
    Location:
    Canada
    Rep Bank:
    $1,977
    If after "couple of months of trying to get the ball rolling" this is the answer you give, just drop the idea. A logo solves a need.

    I googled "What is a logo". And the first link is from 99designs. I scanned the article. But if I take 5 mins to read it, I will give a much better answer than yours.


    I haven't used any of those channels at all. Went straight to freelancing and niche design sites.

    This is not attractive at all. I don't see any reason why I should stop at look at your website. The fact that your designers are looking for some work is not doing anything to convince me. My answer to that is "So what?"

    I will actually question your ability to get pick designers that will get me amazing results if you can't even properly explain what the logo is used for and what need it addresses.

    That is really confusing to me.
    1. Why should I go through you and not directly to designers?
    2. How do I "save" money, if at the end it cost me the same as going straight to designers?
    3. It seems that all you are doing is just "wasting" my time. If I compare going through you or using alternative existing options, I don't see any advantage at all.
     
    astr0 likes this.
  24. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551
    I am telling them I will put them in contact with someone who can help them.
     
  25. LiveEntrepreneur
    Offline

    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    411
    Likes Received:
    291
    Joined:
    Aug 17, 2017
    Gender:
    Male
    Location:
    Australia
    Rep Bank:
    $1,551

    With the 1) With me, I can connect you with designers who give you a completely original non-copyrighted logo at a great price, and with a 100% money back guarantee. As you know there is always a risk of wasting money on the wrong freelancer, but I'll make sure you don't have to face that hurdle.

    2) In a way it saves you money and time because there is the risk of being paired up with someone who will make u a logo to only find out later it was copy and pasted from another source. It saves you money by getting it right the first time.

    3) The advantage is the saved money and time as mentioned above.

    On 3) you mentioned ", I don't see any advantage at all.", I had a question on this. Isn't it just a numbers game? I mean you definitely aren't going to be the best logo designer on the market because it's all subjective so chances are someone is going to like what you got and order it. Is this correct?
     

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page