I make 7k/month can I make 70k/month on my own?

17 replies
Hello,

Forgive me if this is the wrong place.

Simply put, I own a company that builds modules/plugins for a popular software platform. I net 3-7k/month from organic traffic ( 10-30 unique visitors per day ). My traffic is, as you can probably guess, extremely targeted.

The business is almost one year old and shows no signs whatsoever of slowing down. In the past I have hired a few copywriters to help with the on-page content but I feel like the webpage still does not get my main points across correctly.

To solve this issue, I have contemplated bringing on a partner. I have met someone local but he wants to own 49% of my company that I worked very hard to build from absolutely no money ( domain name and hosting only ).

My strong points are not in local/online marketing but in product development and networking with new clients. I don't write very well either

My question is this:
Do I find someone who can be passionate about expanding my business in exchange for a partnership, or do I get some help finding the resources I need to build an effective local/online marketing campaign to expand my business?

Please let me know your opinions. My main worry is that I will never find someone who wants to grow this business as much as I do.

Thanks,

David
#70k or month #7k or month #make
  • Profile picture of the author addr2
    If you make $7,000/month from 10-30 visitors a day then work on getting 100-300 visitors a day then you will make $70,000 month.
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  • Profile picture of the author peteJ
    What I would do is build a base of quality people to outsource to. You could for example hire someone to manage marketing campaigns and other tasks that you aren't particularly inclined to do. There is a lot of people out there that will do quality work for you, although some of it may be expensive. This might be a good option for you as you can keep control of your company and still have all the tasks you don't excel at taken on by others.
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    • Profile picture of the author DaveW82
      petej: I am extremely familiar with outsourcing programming/design( I have an office overseas ), but I have NEVER tried hiring someone to do marketing. Any pointers on this?
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  • Profile picture of the author Slazengeer
    The only thing lacking in your business is SEO. Hire a SEO expert and do all setting right (Keywords, On-Page optimization, Off-Page Optimization, Social Media Marketing, Offline marketing, Campaigns etc), which will bring more laser targeted traffic, increase your website rank and help you to dominate SERPs. This way, many more visitors will come and your business wil expand.
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  • Profile picture of the author peteJ
    I really have never worked much with outsourcing but there would be two mains ways I would go about doing it:

    You could go local, maybe out an ad out on craigslist or get in touch with a local marketing firm, that way you could meet face to face and have a better connection with the peopel who are doing your marketing.

    Or you could look online. Check the big freelace sites out there and find someone who is reputable and has lots of quality feedback.

    Either way, there are a lot of talented people out there that are hungry for work and can really help expand your business. If you already have experience outsourcing your work then I can't really see why you would have any problem outsourcing your marketing as well.
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  • Profile picture of the author bamstk090
    you will get that,, anyways 7k from 30 visitor/days was amazing
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  • Profile picture of the author intergen
    I do not recommend giving away 49% unless you make it performance based. If they are that good then make them earn it. You had to earn it - why should they step in with no skin in the game and get 49%? So give some rev share (for their immediate cash needs) and add equity when they hit certain milestones.

    But another concern is if for whatever reason they decide to leave you will be stuck with someone who may not be supporting operations with 49%. So I would also get a non-compete signed and make sure that there is an "out" clause around leaving before a certain date esp. if you're giving that much of the Co.
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  • Profile picture of the author nipsyr
    No, absolutely don't give nearly half of your successful company away.

    I'm curious anyway what this person brings to the table to deserve nearly half?

    You are making enough to hire great expert help.

    Are you certain of what you need to get more customers or just sort of guessing?
    Find out exactly what you need and look for people to do it and interview them thoroughly to find out how good they are. Talk to their customers.
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  • Profile picture of the author GMT
    My advice is definitely do not bring in a partner much less one that wants such a high percentage of your company. You've done very well so far, so you should be proud of your accomplishments. The best route IMHO is simply hire people to do things you feel you're weak at. Not as an employee because there's a lot of baggage with that but rather as a independent contractor, and when you find one that does good work, hang on to them! There's plenty out there, on virtual worker type site, this site, fiverr etc...
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  • Profile picture of the author kimboslice
    49% of the business? Is he giving you cash for this interest? No way I'd do that deal unless this guy had some special talent or huge name to propel my business to 700k a month.

    I'd take some time to figure what I needed to get to the next level and then outsource those services. if you are in the USA I'd contact Free Small Business Advice | How-to Resources | Tools | Templates | SCORE and try to find a mentor to help grow my business. Score is great for people who are looking for growing a long term REAL business, not just jumping from wso to wso. Good luck!
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  • Profile picture of the author Robert M Gouge
    At the very least, exhaust all your outsourcing opportunities before even considering giving away 49% of your company. Especially if it's still growing.

    This also means that, before taxes, you'll have to net 140k+/mo to make *your* 70k/mo.

    I'd just be looking to hire someone to head marketing if that's where you're weak.
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  • If your conversion rate with current page content = net 3-7k/month from 10-30 unique visitors per day, (from organic traffic) then all that needs to be done is re-invest some of that income into a "paid" targeted advertising / traffic campaign in order to ramp up your visitors to 100 - 300 visitors per day.

    You might also consider plugging in an affiliate system and offer a percentage of sales.

    Re: "I will never find someone who wants to grow this business as much as I do."

    This is probably true, however, you can surely find someone who is willing and able to implement and handle the above tasks and other marketing functions as an employee or a freelancer on contract, as opposed to making it a business partner type of deal.
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  • Profile picture of the author Adie
    You said "no slowing down" so therefore its improving. In order to meet your goal, set your target and analyze. Check the things that are not working and improve them.
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  • Profile picture of the author DaveW82
    Thanks for the replies.

    I'll try to find someone who can handle the marketing. The person I'm speaking of is not some marketing mastermind. I will be trying to find some people with good feedback and maybe I can hire from warriorforum to keep the money in the pot so to speak.


    Thanks,

    David
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    • Profile picture of the author princecapri
      Originally Posted by DaveW82 View Post

      Thanks for the replies.

      I'll try to find someone who can handle the marketing. The person I'm speaking of is not some marketing mastermind. I will be trying to find some people with good feedback and maybe I can hire from warriorforum to keep the money in the pot so to speak.


      Thanks,

      David
      It seems you already have some clarity on the issue - well done!

      You are now at the stage of the business where you need to reinvent a few things. Its a tricky phase, and external help will do you good. But I don't think that giving a %age of your business is a good idea.

      At this stage, usually reinvestment is recommended. This could, in this case, involve hiring an expert to outsource some of the tasks too. But more importantly, if it is direction you are struggling with, I would suggest speaking to a strategist to understand where you need to go, and how you need to do it.

      Let me know if this helps, or if you have more questions.

      Regards,
      Neeraj.
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  • Profile picture of the author Walter Parrish
    Originally Posted by DaveW82 View Post

    Hello,

    Forgive me if this is the wrong place.

    Simply put, I own a company that builds modules/plugins for a popular software platform. I net 3-7k/month from organic traffic ( 10-30 unique visitors per day ). My traffic is, as you can probably guess, extremely targeted.

    The business is almost one year old and shows no signs whatsoever of slowing down. In the past I have hired a few copywriters to help with the on-page content but I feel like the webpage still does not get my main points across correctly.

    To solve this issue, I have contemplated bringing on a partner. I have met someone local but he wants to own 49% of my company that I worked very hard to build from absolutely no money ( domain name and hosting only ).

    My strong points are not in local/online marketing but in product development and networking with new clients. I don't write very well either

    My question is this:
    Do I find someone who can be passionate about expanding my business in exchange for a partnership, or do I get some help finding the resources I need to build an effective local/online marketing campaign to expand my business?

    Please let me know your opinions. My main worry is that I will never find someone who wants to grow this business as much as I do.

    Thanks,

    David
    I would search around and do the outsourcing.
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  • Profile picture of the author myinternetscout
    I agree with some of the previous advice about expansion. Given the conversion rate you receive, I would NOT bring on a partner. There are a lot of people out there who are all talk. I suggest you gradually build upon the success you've already had.

    The Writer Question
    I recommend contracting with a US-based writer that understands what your product does and how it benefits the customer. The writer needs to be in a long-term contract in order to 'dig deep' to understand your business and the industry its sold to and understand nuances of using copy on the Internet (ie., call-to-action, seo, layout, etc...). Expect to pay a high rate ($350 to $500 per article) for this type writer. However, you'll get the results you're looking for, you'll have the opportunity to fire them at the end of the term, and you won't be giving away a single share of your business.

    Other Marketing
    As for the other aspects of marketing on the Internet, interview a couple of firms who are well-rounded in Internet marketing and test them out for 3-4 months. If they don't work out, try someone else. Stay away from a firm that just vends one or two products. Look for those that specialize in generating sales conversions and quality sales leads for their customers

    Good luck.

    Pete.
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