On the road

[DamienD]

Hey everyone, I'm Damien and I like to face things head on so I can learn quickly. I recently developed a product that it showing great potential so I enhanced it further by jumping into making bigger deals such as B2B. I have now a few deals in progress... one of them seems to ending soon for the positive. To be honest, I may have stepped ahead myself because I really don't have a clue on what I'm doing or handle certain obstacles that block my path. Up to this point, I've improvised successfully enough to set in place a lucrative deal but I'm struggling with one roadblock that I'm hoping an experienced entrepreneur can assist me with here. I've went ahead and posted my issue in the general entrepreneur discussion section if you are willing to help I appreciate your effort. Other than that, as I've expressed... I'm pro-active, I'm an improviser and I don't really know what I'm doing but it is working Thanks

 

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[Late Bloomer]

Hi Damien, wow are you a go-getter!

From your headline, I expected your post to say, "I'm a traveling salesman, tonight I'm writing to you from Motel 6 in Nowhereseville, Nebraska."

You don't mention how old you are, and is this your first time trying to build your own business?

 

[DamienD]

Yes, it's the first attempt at starting a business. I was born in 1989. Don't get me wrong, even though I'm a go getter I'm handling this situation somewhat irresponsibly... I just have saved up enough money from working to survive for 90 days. This 90 day period (less than 60 days left) of freedom to focus on making things happen is the only way I can focus and be the go getter that I am. Nothing is set in stone yet.. I'm working with limitations.. I have only so much I can spend on gas and food and free samples and supplies etc. everything I do is a risk.. nothing I do is certain.. I don't know what I'm doing.. but the experience is so far been a transformation.. I'm hoping I don't have to go back to employment.. that will be something I perceive as the worst thing to happen.. it would rip my soul out of my body if I don't succeed. I wish I had the room to do more... I could do so many wonderful things with just a starting point.

 

[Late Bloomer]

I have only so much I can spend on gas and food and free samples and supplies etc. everything I do is a risk

Although I'm a bit older, I have a similar tight situation and timing issue right now. I took a quick look at your Commissions? thread and have a few thoughts.

• Have you read either of MJ's books? If not I highly recommend you do! There are review threads here for both of them. And he's posted here about his CENTS aka CENTS list of business criteria. I think that a giant dose of MJ principles, storytelling, and mindset motivation shifts, would be super helpful to you! I'd say this even if I'd met you some other place than his forum! ;-)
• You're starting by selling a product, and it appears that you need a BIG deal to make things work. While a BIG deal would be great, it's also a very high risk strategy for you to choose right now. I'm wondering if you have a way you could try to make LOTS of LITTLE sales, of some SERVICE, that you could sell and delivery quickly. That would get some cash flow going, and build up some local business contacts for you. Then, you'd be able to afford a longer term approach to making the right deals with sales reps and with big buyers who might take months to close.

This has been a shift in my thinking. I've spent the last couple of years trying to make a "big bang big deal" happen, with three different people I thought would be business partners. Came to decide for myself, that I should try to turn the handle fast on some money this week, rather than none next month towards the "big deal" vision. Could that be true for you too?

 

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[DamienD]

I want to add I am perceiving everything as a trial. My product is a trial, my efforts are a trial, what I get out the experience has to be more valuable to me than making a sale. Making a sale is a lifeline but I can't allow that to be the driving force of my effort. To me that is the reality of my situation because like I've expressed before.. I don't know what I'm doing. If I spent the time to know what I needed to do I would be lacking the experience. I'd rather just go all in, as risky as it is, as irresponsible as it is, at least I know that if I fail... I have something valueable to work with.

 

[DamienD]

Your are correct late bloomer, I need to diversify. Is that what your saying?

 

[Late Bloomer]

I like your trial mindset. You're absolutely guaranteed to successfully learn... something! ;-) Some things about you, some things about business, some things about your current market.

My point is to see if you break this into a LOT of little trials... each one of which, independently, could make at least a little profit for you, quickly, or be over and done, quickly.

In my own case for example, I'll consider myself a success, if by mid summer I know how to sell and deliver a $500 web site to a new client I can meet every day... rather than if I learn how to do one $10k Big Project each month, which takes months to find the client and negotiate the deal.

A taxi driver turned business guru had some advice I didn't like, but he said one thing that stayed with me. "The money's in the meter drop." When someone gets into the taxi, they are immediately billed a few dollars. This guy would take any fare he could get immediately, all the time. The other drivers would wait around at the line all day to "make the big money" taking someone to the airport for instance, not available for lots of little runs. It turned out that the "meter drop" guy took home a lot more money each day, from lots of little trips "too small and cheap" for the other guys!

 

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[DamienD]

You're correct. I've sold wholesale to a few places in small batches, 5 specifically. Its just not sufficient enough to recycle until I've sold all of my stock. I see what I have in stock as samples because compared to the bulk pricing that's what they end being. What I've sold and have on a shelf, to me, is just an opportunity for my client to gauge the potential of the product. It's worked well so far, I've been able to offer a private label option that way. I've gained the interest of clients successfully and they have been willing to participate. But I want to add that I don't view them as clients currently.. I see them as participants in a trial product and then after customers purchase my product I give them the idea of private labeling and demonstrate the difference in pricing from what they've purchased to what they can gain from purchasing bulk. It's a long tedious process but so far it seems to be sufficient enough for at least a consideration. Once a consideration was made from one participant, that's when I handled questions, concerns, wants and objections. As result, I've increased the value substantially and was also able to save them a little more money without harming my self. Ive done what I can do for one participant to evolve into a contributor. If they decide not to contribute then I withdraw their participation and move forward. So instead of selling them on my idea.. I'm giving them the freedom to experiment with the product and their customers.. what a great service! But they are also well informed of the financials and understand that they are what they are. Now, a 400% ROI in a period of 365 days isn't bad. The investment is what a minimum wage worker earns in a year so I can understand the prolonging of a decision. I've set my self up only for big deals but you are correct when advising I need to supplement my income in different ways. I'm looking to do that now. Thank you.

 

[Late Bloomer]

. It's worked well so far, I've been able to offer a private label option that way.

This all sounds like an outstanding long-term opportunity. I suggest you continue doing it most of your time, but diversify a percentage of your time into little things that could pay off quickly along the way.

A copywriting discussion group seems to be starting up here. Would that be helpful for you to make lots of contacts through sales letters, rather than having to meet all the buyers one on one for a start?

 

[DamienD]

I think I've just created a "subtle sales" approach

 

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[DamienD]

Yes, could try that. I just enjoy walking into places organically.

On iPhone

 

[Late Bloomer]

I just enjoy walking into places organically.

On iPhone

"Hey, Mr. Business Owner, I'll be right with you as soon as I finish this important call..."

 

[DamienD]

I've considered sales letters, cold emails and calling. I've done some cold emailing and cold calling before selling internet marketing services but it just wasn't right for me. I targeted lawyers and doctors who didn't have a google+ page or a business listing and offered to set one up for them and optimize it for seo.. I was going to drop a dofollow link on a relative site with high authority for some extra juice.. out of 500 I cold called I was only able to get two to agree. Turned out they just wanted the free stuff and it didn't feel so good to be played with. That's when I decided I need to make things personal, I need to formally introduce myself somehow. I don't try to sell IM anymore because I don't have any work to refer people to and I want to avoid employment as much as I can so starting from the bottom in that market has to be last option left on the table. And that what it turned into so I moved on away from that and decided to start with a physical product.. now I have something to refer people to and they can play with the product instead of playing with me.. too much. I'm looking for work not labor. I want so much work that I don't sleep. Labor is such a stagnant thing for me to do. I've had jobs in many fields doing many tasks from agriculture to corrections.. and it all just dragged me down from my potential and energy that I could have put into working on myself. In the end, if going by the book is the only thing I have left that I can do then I will have to try that. I just enjoy competing with myself over competing with someone else.

 

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