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Brand New Business - Generate First Few Customers

by ultralast
12 replies
It's been awhile since I started a business from scratch. The game plan for this new business is to use no outside money to begin with. So we'll have to work with what little revenue we're generating so far (<$500/mo).

First thing that comes to mind is that we'll most likely be spending more time than money. So I've even considered the use of cold calling. I also thought about a direct mail campaign using post cards to targeted customers. With my experience with my other 2 companies, web presence is beyond our current budget considering the time it would take to get us on the map so to speak.

If you only had less than $500 per month, how would you approach this?

The business we're creating is an automated bookkeeping service which targets small businesses with owners of the 30 to 40 year old demographic. We're targeting only US businesses. Fees are paid in monthly and the average monthly subscription will be $200. Our target budget for marketing is 10%.
#brand #business #customers #generated
  • Profile picture of the author Ron Lafuddy
    Originally Posted by ultralast View Post

    It's been awhile since I started a business from scratch. The game plan for this new business is to use no outside money to begin with. So we'll have to work with what little revenue we're generating so far (<$500/mo).

    First thing that comes to mind is that we'll most likely be spending more time than money. So I've even considered the use of cold calling. I also thought about a direct mail campaign using post cards to targeted customers. With my experience with my other 2 companies, web presence is beyond our current budget considering the time it would take to get us on the map so to speak.

    If you only had less than $500 per month, how would you approach this?

    The business we're creating is an automated bookkeeping service which targets small businesses with owners of the 30 to 40 year old demographic. We're targeting only US businesses. Fees are paid in monthly and the average monthly subscription will be $200. Our target budget for marketing is 10%.
    Pick up the phone and start dialing.

    You should be able to fill your dance card fairly quickly.

    Ron
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    • Profile picture of the author Flamingo340
      Agreed. People seem to underestimate the effectiveness of cold calling. Whether it's because it's a "dirty" job most people don't want to do, or they don't realize how cost effective it can be, people really don't seem to want to do this leg work any more. With a decent calling list and a good script, you'll start finding clients in no time.
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  • Profile picture of the author umc
    What Ron said.

    Also, I wonder if you could reach out to tax preparers. I bet some of them wish some of their clients kept better books. Maybe they could refer you. Just an idea. I have no direct experience in the space.
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  • Profile picture of the author ryanbiddulph
    Cold calling is OK, but seems like a scattershot approach, numbers game deal to me. Feel free to use it but you will spend a lot less time and energy over the long haul by attracting online customers to you, through a well-stocked, valuable Wordpress blog. No limit to how many folks you can reach over the long term, but if you are cold calling people 1 to 1 your reward for the risk/effort peters out over time.

    I'd be patient. Build something online. The right way, for the right reason. At least do it steadily if you dive into cold calling.
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    • Profile picture of the author Ron Lafuddy
      Originally Posted by ryanbiddulph View Post

      Cold calling is OK, but seems like a scattershot approach, numbers game deal to me. Feel free to use it but you will spend a lot less time and energy over the long haul by attracting online customers to you, through a well-stocked, valuable Wordpress blog. No limit to how many folks you can reach over the long term, but if you are cold calling people 1 to 1 your reward for the risk/effort peters out over time.

      I'd be patient. Build something online. The right way, for the right reason. At least do it steadily if you dive into cold calling.
      Yeah, the OP addressed having a website and the problem with it: "...web presence is beyond our current budget considering the time it would take to get us on the map so to speak."

      He is looking for solutions other than a website.

      Maybe read the post next time. That's the "Right Way for the Right Reason", instead of just sig spamming,.

      Ron
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  • Profile picture of the author savidge4
    Originally Posted by ultralast View Post

    web presence is beyond our current budget considering the time it would take to get us on the map so to speak.

    If you only had less than $500 per month, how would you approach this?
    If it were me... I would probably cold call on this. However, I would also have a site. A simple site answering Who What Where When Why and How. I might go as far as getting a google for business listing, but in terms of SEO.. I would not bother... THAT would be a waste of time and money for a startup such as yours.

    Once the site was up. I would get on LinkedIn Like a mug. Produce some content that describes the pain, and how your service is the solution - to learn more call us here.. or drop us a line here kind of thing.

    Once that was in place.. ( a few days at the very most ) I would then go after cold calling. Another strategy to consider. When I cold call nationally.. I try to break my calls according to time zone. So I would be calling all EST's or all PST's as examples. Depending on where you call home, optimal calling times to other time zones leaves a gap in time. ( If you are on the east coast... and calling the west coast, you really wont start your calling till Noon time. ) So in the first few hours of the day, I would stay local and door some face to face with local business's.

    If it works out you are on the west coast you would then do your "walking" from 2pm til 5.

    The reason I suggest this... Cold calling takes its toll. I find breaking up the sales approach in this manor breaks up the grind a bit, but keeps you on task.
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  • Profile picture of the author ultralast
    Thank you everyone for your replies. I should have been more clear because we do have a website but there is no traffic.

    Sounds to me like cold calling and cold email is the way to go. This helps me tremendously in setting up a plan to start!
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    • Profile picture of the author Claude Whitacre
      Originally Posted by ultralast View Post

      Thank you everyone for your replies. I should have been more clear because we do have a website but there is no traffic.
      The purpose of the website isn't to sell, but to have a reference point when someone you cold called wants to find out more about you.

      Don't cold call to pull people to your website. But they will go to your website on their own.
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      • Profile picture of the author savidge4
        Originally Posted by Claude Whitacre View Post

        The purpose of the website isn't to sell, but to have a reference point when someone you cold called wants to find out more about you.

        Don't cold call to pull people to your website. But they will go to your website on their own.
        This is EXACTLY right. you need to build TRUST, and by having a simple site out there, it ads a level of trust to YOU and YOUR offer. It also reinforces point of contact IE phone number or social media or a quick form or e-mail etc.
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    • Profile picture of the author Ron Lafuddy
      Originally Posted by ultralast View Post

      Thank you everyone for your replies. I should have been more clear because we do have a website but there is no traffic.

      Sounds to me like cold calling and cold email is the way to go. This helps me tremendously in setting up a plan to start!
      Have you tried this on a local level?

      Perhaps identify companies with 10 or more employees and get on the phone to get an appointment with them. Use the appointments to drill down and gather information that will help you build a client profile.

      If you do this well, you'll be able to eliminate everyone but the great prospects.

      Just a thought.

      Ron
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  • Profile picture of the author sbishop
    thumbtack.com has leads for bookkeeping and payroll.

    In case you are not familiar with Thumbtack, this is the best lead service that I have found. You can join for free and they will send you very detailed info about the lead, such as the number of employees.

    Once you have reviewed the lead you can choose if you would like to buy it. Also, any leads purchased have 48hrs to view your offer or you get an automatic refund...you also keep the lead

    give them a try. as a note they do offer a referal credit but I am not including any links
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  • Profile picture of the author Oziboomer
    Originally Posted by ultralast View Post

    The business we're creating is an automated bookkeeping service which targets small businesses with owners of the 30 to 40 year old demographic. We're targeting only US businesses. Fees are paid in monthly and the average monthly subscription will be $200. Our target budget for marketing is 10%.
    Can I ask what an "automated bookkeeping service" is?

    With the likes of Xero, Quickbooks, MYOB etc all having cloud based subscriptions and their ability to pull in bank feeds what does your automated bookkeeping service do?

    I'm curious about the service because automated sounds like someone has to already have entered data and if someone has already entered data most of the grunt work has already been done.

    I've got several employees who can enter invoices when they have a spare moment and outside of that once you've set up basic rules and got your bank feeds running what is it you do for the $200?

    With most of the small business accounting packages costing well less than $100 monthly I'm curious where you fit in and make sense to a small business owner.

    Please let me know a little more and perhaps your answers will help generate a few insights for you.

    Best regards,

    Ozi
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