Hi guys!
I've been gone for the previous 5 days or so. And this is the reason why I've decided to write this post. I'll try to keep it simple and clear.
Background Info
For the previous 2 weeks I have been building my own business that is Ireland based, not scale-able, but represents great learning and earning potential. I've validated demand, created a professional website and am ready to rock 'n roll. At least I thought I was, until...
Situation
Last week I dropped a mate of mine to a local guy who has just opened a small mattress manufacturing operation in my local area. He's been in business for 20 years, manufacturing beds, sofas and mattresses.
The owner for some reason got interested into me and asked what I am doing for living. I've told him my strongest skill-set lies in marketing and he asked me to jump on-board with quite interesting payment proposal:
I use his funds to run FB ads and I get €5 for each closed deal. Closing a deal means I get a customer's word that he/she wants product delivered to a specified location. That's it. I get the info down and at the end of the day send all orders to a business owner and at the end of a week he pays me €5 for each item sold.
Currently, his Facebook page has 17k likes, he runs 5 ads and spends like €700 every week. He said he has spent roughly €10k on FB ads alone in the last 4 months or so.
In addition, he also mentioned that I'll get €5 for each item sold on Ebay, Amazon or any other local portals. So, basically I use all online tools I can think of and he injects a €5 reward into my pocket for each item sold. Tax-free, all funds go directly to my pocket.
Dilemma
Ok, even with crap campaigns he pulls-off 30-70 orders on a weekly basis. If I bring numbers up to 100, I'll be making €500 every week without much effort. I suspect I'll spend like 3-5h a day responding to comments, managing spreadsheet and FB campaigns.
In addition to this, I can post his products on Ebay, Amazon and other classified ads. These will be pretty much on autopilot and require minimal effort from my side, but still land me €5 for each item sold.
What's the problem?
If I accept his deal I'll have less time for my own venture that market is starving for. There's 0 competition for my service, so I assume I would be quickly noticed by media, which might result in more sales and brand awareness in general. I see this venture as something that can generate in a range of €80-€100k a year and offer a pretty sweet exit strategy after few years. Not to mention some of the media attention I might get.
So, if I help the guy selling furniture I'll probably have less emotional intelligence to invest in my own venture that may result in crap service provided. On the other hand, money made from that guy could be re-invested into my own venture and that may be a lovely boost at the beginning until it properly kicks-off.
Should I accept guy's offer or concentrate on my own venture?
Bear in mind, I have 24h at my disposal. No commitments whatsoever.
IMPORTANT
I know - we do not make choices for other people. And that's not the reason why I am posting here. The reason is to simply get some relevant feedback that will be critical in my decision making process.
P.S. Sorry for spelling mistakes - I am no English teacher and am completely exhausted contemplating what I should do...shoot for both or aim for one.
I've been gone for the previous 5 days or so. And this is the reason why I've decided to write this post. I'll try to keep it simple and clear.
Background Info
For the previous 2 weeks I have been building my own business that is Ireland based, not scale-able, but represents great learning and earning potential. I've validated demand, created a professional website and am ready to rock 'n roll. At least I thought I was, until...
Situation
Last week I dropped a mate of mine to a local guy who has just opened a small mattress manufacturing operation in my local area. He's been in business for 20 years, manufacturing beds, sofas and mattresses.
The owner for some reason got interested into me and asked what I am doing for living. I've told him my strongest skill-set lies in marketing and he asked me to jump on-board with quite interesting payment proposal:
I use his funds to run FB ads and I get €5 for each closed deal. Closing a deal means I get a customer's word that he/she wants product delivered to a specified location. That's it. I get the info down and at the end of the day send all orders to a business owner and at the end of a week he pays me €5 for each item sold.
Currently, his Facebook page has 17k likes, he runs 5 ads and spends like €700 every week. He said he has spent roughly €10k on FB ads alone in the last 4 months or so.
In addition, he also mentioned that I'll get €5 for each item sold on Ebay, Amazon or any other local portals. So, basically I use all online tools I can think of and he injects a €5 reward into my pocket for each item sold. Tax-free, all funds go directly to my pocket.
Dilemma
Ok, even with crap campaigns he pulls-off 30-70 orders on a weekly basis. If I bring numbers up to 100, I'll be making €500 every week without much effort. I suspect I'll spend like 3-5h a day responding to comments, managing spreadsheet and FB campaigns.
In addition to this, I can post his products on Ebay, Amazon and other classified ads. These will be pretty much on autopilot and require minimal effort from my side, but still land me €5 for each item sold.
What's the problem?
If I accept his deal I'll have less time for my own venture that market is starving for. There's 0 competition for my service, so I assume I would be quickly noticed by media, which might result in more sales and brand awareness in general. I see this venture as something that can generate in a range of €80-€100k a year and offer a pretty sweet exit strategy after few years. Not to mention some of the media attention I might get.
So, if I help the guy selling furniture I'll probably have less emotional intelligence to invest in my own venture that may result in crap service provided. On the other hand, money made from that guy could be re-invested into my own venture and that may be a lovely boost at the beginning until it properly kicks-off.
Should I accept guy's offer or concentrate on my own venture?
Bear in mind, I have 24h at my disposal. No commitments whatsoever.
IMPORTANT
I know - we do not make choices for other people. And that's not the reason why I am posting here. The reason is to simply get some relevant feedback that will be critical in my decision making process.
P.S. Sorry for spelling mistakes - I am no English teacher and am completely exhausted contemplating what I should do...shoot for both or aim for one.
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