Low-Helicopter-2696

joined 10 months ago
 

I'm ready to take the plunge, but I'm Twitter illiterate. What services do you trust to help a newbie with great content and an established business legitimately grow their Twitter following? Not bots! Yes, I know it's called X now.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago (1 children)

I think it's important to point out that just because someone wants to do something within a particular field, it doesn't mean there will be opportunities to make a living at it.

Artists and musicians tend to be creative people who thrive on doing what they love. And while there are a select few can make it to the top of their field, the vast majority toil in anonymity and will never parlay their passion into financial success.

Just because I enjoy playing baseball doesn't mean people are going to pay to watch me unless I'm the absolute best. Along the same lines, Just cuz someone makes music and wants it to be there career doesn't mean will happen.

At some point people have to be realistic about their prospects of making a living at doing the thing they love. The vast majority of people have jobs that they don't love, but it pays the bills so they can enjoy their hobbies in their free time.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago (1 children)

You're missing the point. There's no book that's going to tell you how to select the next big thing in any niche or industry.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

Tried it with no results. However I hired a firm to run a test for me and that was based on a cold email I got from them, so it worked for them.

Nothing's more annoying than getting an email and opening it by accident, and 3 minutes later you get an email "saying so and so on my team contacted you and I just want to follow up". In a few cases I've even responded to call them out on their obvious email sequence.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

Grit by Angela Duckworth

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago (6 children)

I think what you're looking for is a crystal ball. Which doesn't exist. Hindsight is 20/20 when looking at something like Bitcoin. There's a million other cryptocurrencies that've gone absolutely nowhere.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

I haven't. I'll check it out!

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago (1 children)

I totally agree. It's going to be hard to sell.

Would love to hire and train people, but I wouldn't have any idea where to look or how to do it in such a way that it would work. I've managed people before and I'm pretty terrible at it.

 

Earlier today I posted in this sub about wanting to hold on to it for my kids, but the more I think about it, it seems like a lot of time to spend on something not knowing if your kids will even want it.

I run a one-man consulting business.

So I'm thinking, if the right person wants to learn this business, I can sell it to them and teach them what they need to know over like 6 months. Someone with abackground in finance, commercial lending, or workout/turnaround would be an ideal person to purchase it.

It's actually a really great business because I only work about 10-15 hours per week, and I just ran the numbers and I'm at $177K revenue with virtually no expenses (it's consulting) for 2023.

I don't pay for advertising. I've got a few social media channels and my SEO is pretty good at the moment (that's where the bulk of my business comes from). My social media is actually not all that polished, so anybody who wanted to put the pedal to the metal could probably grow revenues beyond the current levels.

According to chat GBT, businesses in this space are worth between 1.5 and 3 times revenue. Even if we split the difference and I sold for 2.25 times revenue, thats $398k. I'd take that. Something like 75% cash and the balance paid as an earn out.

I'm not going to speak publicly about specifically what I do because I'll be too easy to identify, but if anyone has a serious interest feel free to shoot me a DM and tell me a little bit about your background.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

Possibly, but it's a pretty easy gig. I work about 10 hours a week and this year I'll probably make $150k.

I would have killed for the opportunity to have a part-time job at a full-time income with no boss.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

Nope they're not adults.

And it's a one-man consulting business so I can't outsource or hire someone to babysit the business until they're of age to decide. I don't even know that selling it is an option since I've got a lot of specialized knowledge.

I'd be willing to ease my kids into it over a few years, but I think it would be too long to transition to a buyer.

 

I'm at the point where I could hang it up right now, but my main motivation is to have a profitable business to pass along to my kids.

As someone who grew up in a family of non-entrepreneurs, I always wished that there was a family business that I could take over because it was so damn hard building one from scratch.

Now that I have kids in my own, I have a real appreciation for being able to pass something along to them, although at this point I have zero idea if they'll actually want to take the business over.

Just curious if anyone else out there has a similar situation.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

If you have absolutely no money, you should start by getting a good job and saving some money.

If you've got even a little bit of money, you can start a service business like a landscaper or a window washer.

[–] Low-Helicopter-2696@alien.top 1 points 9 months ago

They sweat the small details.

I run tons of experiments before I both to get a business license or form a legal entity. Sometimes it's better just to test the idea before you come through all the red tape.

Many entrepreneurs also make the mistake building it before they understand the demand for their product or service. It should be the other way around. Establish where the demand is and then build the product to fit it.

[–] Low-Helicopter-2696@alien.top 1 points 10 months ago

I didn't. I just stuck with the one that worked. Lots of failures before I had a success.

 

I'll start by saying I'm not an expert In SEO, digital marketing, web design or anything like that.

A lot of the stuff I read on this sub would discourage me from even trying if I was a novice because I would be convinced I was incapable of doing it because other people were so expert at it.

I'm here to tell you that if you are an expert in a specific field you don't need to be an expert in all this other stuff. If you can find a way to sell your advice to someone else the rest of the stuff you can hire out or piece together.

The first thing I want to share is that it probably took me 10 years to finally come up with an idea that I could actually earn a living from. I had a lot of terrible ideas that never went anywhere.

But each time I failed, I learned something new. Failure has value and it's absolutely true that you learn more from your failures than you do from your successes.

Because I was entrepreneurial minded I was always on the lookout for an opportunity. It was always looking for some angle that could be used to make some money.

List of things that didn't work is unbelievably long. At my wedding my brother made a list of all the ideas I had had over the years. There are more than 20 ideas that I had but some sort of time and effort into.

So for 10 years after college I toiled away in commercial lending. I hate it every single minute of it. I hated it that so much that I actually quit and open an ice cream store, not because I was into ice cream, but cuz I wanted to do anything but write book reports for a living.

After the first summer it was very clear I was never going to make a living selling ice cream. The money just wasn't there.

Out of the blue about a week or two after I close my ice cream shop, I got an email from a recruiter who was looking to fill a roll with lender who did some very specialized niche lending.

I took the job and went back to the corporate world. Because it was a niche, I didn't know anything about it but I learned quickly.

after about a year, a consultant came out of the woodwork to represent one of the borrowers. The guy was a real scumbag. And then I had my aha moment.

If this scumbag could make money giving advice to people in this arena, I could probably do that too except do it ethically.

So I threw up a website offering my services.

Of course having website doesn't necessarily mean people that are going to be the path to your door.

I started googling all the keywords that I would search for, and found articles written by the scumbag. I also used tools to analyze my competitor's websites to see what keywords they were ranking for. And then I focused on those keywords.

I started to write similar articles and post them in similar places. This was back when it was popular to publish on lots of different sites instead of just focusing on your own SEO.

I also started contributing in forums where potential customers might hang out. The trick is to add value to those conversations without overtly soliciting clients. Show them you can add value and they will seek you out.

Finally I discovered the value of Google advertising. This is actually what built my business. I was spending $2000 to $3,000 a month on ads and it was driving tons of potential customers to my site.

The trick with Google ads is to make sure that the cost of acquisition is worth it. If you're paying $1 per click and selling $1 items, it's probably not going to work. If you're paying $1 per click and you're selling $100 items, you only need one conversion for every hundred clicks.

I did consulting on the side for almost a year before I had enough clients where I was comfortable leaving my full-time job to make the consulting my full-time gig.

I've had some really good years, and some real shit years. I've had some very high highs and some very low lows. At this point I don't sweat it if I have a slow week, but that level of comfort comes with time.

Back when I started, social media wasn't much of a thing, but these days I'm starting to lean into it. About half of my clients come from my YouTube channel. I joined Twitter only a few weeks ago and got one client out of it. At this point I've only got a hundred or so followers so has that grows I would expect it to become a bigger part of my customer acquisition makeup.

As far as being a consultant, my biggest piece of advice is to under promise and over deliver. I hate dealing with building contractors because they all tell me things that turn out not to be true and then I get pissed off.

So when a client asks me what to expect, I give them the gloom and Doom scenario. That way if things don't go as planned, they're getting exactly what I described. Alternatively if things turn out better, then they're extremely happy with me.

The other thing that I've leaned into is making myself the face of the business. I know this won't scale. I know it won't allow me to sell the business for a ton of money. But what I do know is that people trust me. I handle everything myself and when I say I'm going to do something I do it.

I'm highly responsive to my clients and they never wonder if or when they're going to hear back from me. Most of them hear back almost immediately, if not within a few hours.

If you're able to provide excellent customer service, you're going to be light years ahead of most of your competitors. People are just so used to be treated like trash, all you have to do is treat them like you would want to be treated and that will endear you to customers.

If you're an expert within a particular field and you want to work for yourself, your first task is to figure out what exactly you can sell in terms of information, and who are you going to sell it to. Once you have that you can start thinking about getting out there and selling your services.

Don't push too much pressure on yourself to succeed. Treat it like a game. Treat it like an experiment. If you have an idea follow Mark zuckerberg's advice to move fast and break things. Throw up a landing page, run a few Google ads and see if you can land some clients.

Don't invest tons of money to build the perfect website or say you'll start once you have a large social media following. Just get your website up, and start to run some ads and solicit clients. If it doesn't work out, don't despair. There's always another idea.

If you liked this post, subscribe to my newsletter... Just kidding. I don't have a newsletter.

 

Just in the way a background, I left the corporate job in finance about 10+years ago to start working for myself as a consultant. I'm definitely not a guru on every single facet of the process, but I've built a business from scratch that I make a decent income.

I'm considering offering a service to help budding entrepreneurs who want to make the leap, but before they do that I thought I would offer to do it informally for free just to get a sense of if there's any real value to be provided.

 

Just in the way a background, I left the corporate job in finance about 10+years ago to start working for myself as a consultant. I'm definitely not a guru on every single facet of the process, but I've built a business from scratch that I make a decent income.

I'm considering offering a service to help budding entrepreneurs who want to make the leap, but before they do that I thought I would offer to do it informally for free just to get a sense of if there's any real value to be provided.

 

Airbnb sounded like a horrible idea to me. Who the heck would rent out a single room? Sounded like a recipe for murder.

 

For a number of years I've wanted to start a business to transport kids to their activities. I know the concept of Uber for kids already exist in some places but it's not near me.

I start thinking about how I could recruit some drivers, run some background checks and then start recruiting weary parents who are tired of driving. Then I think about the logistics of all of it and take a walk instead lol

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