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Service Businesses - Low Capital Startup Requirement

MetalGear

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  • My brother is interested in saving up for a house and engagement ring
  • I spoke to him about several business ideas without a high capital startup requirement
  • He has a STEM background and can pretty much learn anything
  • The toughest part is for him to find leads
    • How would you go about finding leads for services companies like below?
  • Smart-home Installation
    • Drill, screwdrivers, multi-meter
    • Reel of CAT5/6 and coax, wall plates, and termination jacks
    • Router, switch, wire tester
  • Auto-body Repair for minor damage
    • Paint gun, paint, and bondo
  • AutoCAD and 3-D Printing Services
    • Custom AutoCAD work, updates, etc
    • Custom 3-D Printing
 
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James Klymus

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The best way to find leads in the "hustle" phase is to ask friends and family and see if they or anyone they know would be interested in these services. You can also cold call and door knock.

Later on down the line if he wanted to grow the business, he can start advertising on adwords and Facebook to generate leads more passively.

Also this is a good post about how @RHL started getting clients for car painting
 

Andy Black

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ZCP

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Will try to be more helpful ..... create an MVP pitch, run it by a few close people in your network that have some business experience (not Aunt Barbara). Ask them for thoughts and direction, not how it won't work. Ask for how it COULD work and if they know anyone that could help. Cleanup / update your pitch. Then keyword search your network and run it by them. Cleanup / update your pitch. Throw some ad dollars into it. Send some emails to your list. Then pivot as needed.
 

JonnyC

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A framework that I love and use is from the book "Traction" and it's called the Bullseye Framework, by the creator of DuckDuckGo.

The Bullseye Framework for Getting Traction – Gabriel Weinberg – Medium

TLDR: There's 19 traction channels. Pick the three most probable for your business, set up a "bite-size" 1-month traction test for less than $1000, test the channel, meticulously track the results. Double down on profitable channel.

I've used it in my own business to find 2 specific marketing tactics that return 4.6x and 5.4x on ad spend. I also identified a channel that I thought was profitable, but actually wasn't profitable fast enough (1 year payback on spend).
 

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