Does my business have potential and how should I invest in it
I'm looking for some advice on my business that I've been trying to start up for about a year now.
Overview of my business:
My business is an online drafting service specialising in providing residential building plans mainly for smaller projects like patios, decks and garages. I am Australia Wide and mainly competing with local drafting businesses (there are only a couple of other online / Australia wide drafting businesses) My USP is that I specialise in smaller jobs as most drafters mainly want to design upmarket houses and overcharge on small jobs. I also include guaranteed council building approval by making changes requested by council free of charge.
I'm only getting about 1 or 2 jobs a month (average $450 - $600 a job) but most of my clients are very happy with my service and some have even sent me pictures of their completed projects that I've posted on social media and my portfolio section.
I've built my website Streamline Drafting and Design myself in wordpress including content writing etc. I've also built and managed my own social media pages and hired someone to write blog posts to help my SEO and give me something to post on my social media pages. My conversion rates are low, bounce rate is over 50% and I don't seem to get much work from adwords or facebook ads so don't want to keep wasting money on advertising until i'm getting work from it..
Do you think my business has potential?
I have about $1000 from my last two jobs, how should I reinvest this? website update? new sales copy? marketing? advertising?
Or am I not investing enough to get my business started (I've done everything myself with no experience so i've invested a lot of time learning wordpress, marketing, seo, writing etc.. but little money) should I borrow say $10,000 to get started properly and how should I invest this?
Thanks very much for any advice...
Michael.
Is Wrong Way Of Market Research Is Costing You Money
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