If you had a start up budget of $750...

16 replies
I just got my income tax returns in, and for the longest time the biggest thing holding me back (so I thought) from success was my budget or lack there of.

So, as I'm on my way to work, I'll ask you guys this:

If you had a budget of $750, and you had to make $3000 in pocket cash in 30 days (preferrably recurring), how would you do it?

I'll check back in on this when I get home from work.

Thanks guys for the input!
#$750 #budget #start
  • Profile picture of the author Robert Domino
    Most people here will tell you to start cold calling or do walk-ins (which are both nearly free).

    They're some of the quickest ways to make money, especially if the product you're selling is an impulse purchase.

    Sort of like a teen going around the neighborhood with clippers and offering to trim bushes, or something. It's one of the most unsophisticated way (in a positive sense) of getting money fast.
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  • Profile picture of the author Aaron Doud
    First if you don't already have a plan in place it wasn't money holding you back. So please think about that before you make the next step. I don't want to see your money die.

    As for what I would do if I had under $1,000, no job, and needed 3 grand in 30 days...

    Day 1
    1. Get a PO Box
    2. Get a business account but do business as myself for now. No time to get the DBA.
    3. I would figure out 1 to 3 things I was good at (hopefully related) and sell those to businesses. In my case due to experience I would focus on retention marketing via social media, email, and text marketing. So I would sell them on the idea of each and having me and "my team" (really just me) manage it for them.

    Day 2
    How would I sell it?
    4. I would create 1 to 4 form letters (for resturants, bars, etc). I would pull out a phone book (or google/etc) and find the addresses of say 100 businesses (my dream 100) to target. I would hand sign each letter (and would have my picture on them). I would than have an assistant (aka friend) hand write (my handwritting sucks) and stamp envelopes.

    Days 3 to 6
    5. I would cold walk area businesses but avoid my dream 100 for now. If possible travel to a city an hour away that way I can pretend i am expanding into that market since I alreayd have busines back in my home market (they don't need to know I don't).
    6. Hopefully I would make a few sales and I could start working half the day on providing the service and half on selling. This would be true going forward.

    Day 7: Take a day off. I may need money but 6 days a week is more than enough.

    Day 8 to 13:
    7. Now I would cold walk my top 100. "Did you get my introduction letter I mailed out last week? Great I wanted to stop in and meet introduce myself in person as well."

    Note: Since I need money fast I would offer a massive discount for year in advance (20% off?).

    8. If any of the people I needed to speek with were busy i would call them on the phone later that day and set up appointments for the next week (or sooner if they want)

    Day 15 to 20:
    9. Do my follow up appoints from week 2.

    Day 22+
    10. Hopefully by this point I have sold enough to have the $3k I needed. If so I need to focus now on retention and thus need to make sure I am providing maximum customer service and 110%+ of what they expect.

    Month 2 and 3
    11. Start asking satified customers for referrals and reward them with money (either money off or literally write them a check)

    12. Hit a new outer area like Day 3 to 6 at least once a month. Remember in a "new" market they won't know you are not a big deal in your "home" market.

    Month 4 to 6
    13. By now I should be hiring staff members 1, 2, and 3. Since I am good at selling staff member 1 would be an assistant to handle the work load and take calls. 2 and 3 would be sales people and I would be with each one their full first month.

    Month 6 to 12
    14. Help my two sales guys to sell while still personally selling.
    15. Hire up to 2 more sales people and 2 more office staff members depending on sales volume.

    That would be my first year plan and I should be able to replace my income currently by that point.
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  • Profile picture of the author bob ross
    Easy.

    1.) Get a DBA at the county clerks office so that you can accept checks under a business name instead of your own. ($30 or something)

    Right after, get a small business checking (a free one) and pop $20 or whatever in it. This can all be done the same day as the DBA filing.

    2.) Get some prospecting lists together of local businesses. Compile a list of all the car dealers, furniture stores, lawyers, insurance agents, remodeling companies, dentists, chiropractors, and HVAC companies.

    Get another list compiled of local pizzerias, restaurants, bakeries, auto service shops, jewelers, and larger well established salons.

    3.) Sell those companies on advertising with you. Tell them you're putting together a massive 9"x12" thick glossy postcard that you'll be sending in the mail to ten thousand local residents. Tell them the card will feature a bunch of local businesses with good offers for big savings on food & services.

    4.) Sell 16 spaces on the card for only $375 each including design (you can outsource this on fiverr for $5). This will take you 2-4 weeks depending on how fast you prospect.

    The reason I suggest the first group of prospects is becuase they are likely to spend big money faster and may want to buy the whole card or multiple spaces, which will make your prospecting (and profiting) significantly quicker.

    Don't be surprised if someone says "How much to take one whole side of the card?".

    5.) You will have somewhere around $6,000 collected. Figure $200 in design costs. Print 10,000 of these using a cheap online printer like gotprint.com ($1200).

    6.) Once the postcards arrive you use the EDDM program through your local post office to send them to 10,000 local residents at 16 cents each ($1600). This leaves you with a profit of $3,000 cash.

    If your advertisers like it, they'll keep adveritising and all you'll have to do is collect the money for months to come. No tech skill required!

    Want to double/triple/quadruple the profit? Start a new card in the next area, then next area, then next area...
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    • Profile picture of the author ClayWhite
      Originally Posted by bob ross View Post

      ...Sell those companies on advertising with you. Tell them you're putting together a massive 9"x12" thick glossy postcard that you'll be sending in the mail to ten thousand local residents. Tell them the card will feature a bunch of local businesses with good offers for big savings on food & services.

      4.) Sell 16 spaces on the card for only $375 each including design (you can outsource this on fiverr for $5). This will take you 2-4 weeks depending on how fast you prospect...
      Bob Ross, have you been able to bring on any sales reps to duplicate this type of sale? I run something similar and have recently tried to get some commission based sales reps to help me expand, but have not been able to find anyone... not one.
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      • Profile picture of the author bob ross
        Originally Posted by ClayWhite View Post

        Bob Ross, have you been able to bring on any sales reps to duplicate this type of sale? I run something similar and have recently tried to get some commission based sales reps to help me expand, but have not been able to find anyone... not one.
        Yes but it took a long time to find reps that really were capable on their own. I have two guys that work both my 9x12 an M3 systems full time. I think salespeople for 9x12 will work best if you're in a largely populated area where they won't run out of prospects quick. That's the problem I was running into because I live in a pretty small area.

        By getting them cross-trained into different direct mail and print services I was able to keep them fed and busy. I have two guys that are pretty much priceless to me right now. They're both dumber than a box of rocks but they do exactly what I say, which makes them a pretty good income.
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      • Profile picture of the author Aaron Doud
        Originally Posted by ClayWhite View Post

        Bob Ross, have you been able to bring on any sales reps to duplicate this type of sale? I run something similar and have recently tried to get some commission based sales reps to help me expand, but have not been able to find anyone... not one.
        1. How long does it take you to fill a card?
        2. How much profit do you make?
        3. How much commission are you offering to the sales person?
        4. Do the math is it worth his time to sell for you? Remember that an "average" sales person should make $40k to $60k a year if they are an employee. If they are 1099 that needs to be higher (say $80k plus).
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        • Profile picture of the author ClayWhite
          Originally Posted by Aaron Doud View Post

          1. How long does it take you to fill a card?
          2. How much profit do you make?
          3. How much commission are you offering to the sales person?
          4. Do the math is it worth his time to sell for you? Remember that an "average" sales person should make $40k to $60k a year if they are an employee. If they are 1099 that needs to be higher (say $80k plus).
          Each filled mailer (with new contracts) earns $5,000 profit. Then if all clients on that mailer renews it's a $2,500 profit.

          I was offering 20% commission plus 5% commission on internet based sales. We give the client the ability to sell vouchers for special offers through our website.

          I live in a town with over 650,000 people and we have over 4,000 businesses in my area.
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          • Profile picture of the author bob ross
            Originally Posted by Dustin Lyle View Post

            BOB ROSS! What is up!? lol My dad used to do something very very similar... about 30 years ago, he got the patent on a tabbed flipbook for coupons that was staple bound, about 1" X 3 or 4" and had around 20 pages in it... He would "hit the streets" selling the pages, offering long term contract discounts.

            In 1985 he made 150k by selling each tabbed page of the monthly coupon book for $120 or $1200 for 12 months. He said that each city he was in netted him $1500 per month, and after the first 3 months, he never had to leave the house because people where calling him to advertise in the booklet. He even was able to build a contact list of people that he couldn't even service because the wait list was so long.

            Distribution was simple... One day a month, he would pick the books up from the printer and drive the "route" and drop off the coupon books by the thousand at different retailers in the specific city..... I always thought it was an awesome idea...

            But I like yours a WHOLE lot better!

            Do you think that clients might be apprehensive if its a "for profit" mailing, as in.. not associated with a non-profit/school? Would you suggest associating with one? maybe that would allow you to charge more..
            Hey, good to hear that you understand the opportunity available with print coupons. I love how timeless they really are.

            You ask a good question. Myself, I'm not totally sold on the value of associating it with a non-profit or a cause. But that's ONLY my opinion and if you feel a different way I think you should give it a try.

            If I was to associate a non-profit with a card I would do something that would appeal to a broad demographic like animal rescues or childrens cancer hospitals. Obviously you want to make sure that you actually do donate money to these causes as well.
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          • Profile picture of the author Aaron Doud
            Originally Posted by ClayWhite View Post

            Each filled mailer (with new contracts) earns $5,000 profit. Then if all clients on that mailer renews it's a $2,500 profit.

            I was offering 20% commission plus 5% commission on internet based sales. We give the client the ability to sell vouchers for special offers through our website.

            I live in a town with over 650,000 people and we have over 4,000 businesses in my area.
            20% of profit or 20% of revenue?

            $1,000 or less (20% of profit) if I fill your card doesn't seem worth it to me to sell for you unless I can do a full card a week. If I am 1099 it is worse.

            My guess is the pay vs. effort equation is too low for most people to consider it. Consider hiring someone hourly plus a bonus. Might be able to find a guy with no experience but potential for that. This is similar to how a lot of telemarketing rooms pay (John would know specifics on their pay structures).
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            • Profile picture of the author bob ross
              Originally Posted by Aaron Doud View Post

              20% of profit or 20% of revenue?

              $1,000 or less (20% of profit) if I fill your card doesn't seem worth it to me to sell for you unless I can do a full card a week. If I am 1099 it is worse.

              My guess is the pay vs. effort equation is too low for most people to consider it. Consider hiring someone hourly plus a bonus. Might be able to find a guy with no experience but potential for that. This is similar to how a lot of telemarketing rooms pay (John would know specifics on their pay structures).
              Yes that's a good point Aaron, paying an hourly rate is definitely going to help your chance of landing a good candidate. Most likely though you're going to need to train this person from the ground up, just like a telemarketer.

              I pay my guys $300 per week so long as they make 2,000 phone calls each. I have different commissions and bonuses that they get as well when they set up an appointment or close a deal on the phone.
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              • Profile picture of the author ClayWhite
                But you also have to look at it like this.

                If they fill 4 cards that $4,000 a month. This is easy to do and if they keep going and go after other cities in our area and get 2 cards per city (4 close cities an hour outside of town) now 4+2+2+2+2 is 12 filled cards and that's $12,000 a month. not bad.

                And if they get merchants to sign up with our online program they can make even more.

                Not trying to convince you of anything just showing why I don't understand why anyone would not want an opp like that.
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                • Profile picture of the author Aaron Doud
                  Originally Posted by ClayWhite View Post

                  But you also have to look at it like this.

                  If they fill 4 cards that $4,000 a month. This is easy to do and if they keep going and go after other cities in our area and get 2 cards per city (4 close cities an hour outside of town) now 4+2+2+2+2 is 12 filled cards and that's $12,000 a month. not bad.

                  And if they get merchants to sign up with our online program they can make even more.

                  Not trying to convince you of anything just showing why I don't understand why anyone would not want an opp like that.
                  How long would that take?

                  How much time would I spend to get 12 cards a month filled?

                  And if I am a 1099 (you never mentioned rather it was employee or 1099) if I am making $12k a month that is $144k a year before taxes and expenses. Should bring me after tax pay of say $80k? Now that is great pay. But can I do that in 30 hours a week? 40 hours a week? Can I do it at all realistically?

                  If the answer is yes why are you not advertising $144k first year potential? That should attract attention.

                  Show them the money and the fact that they are stupid not to want to do it and you are golden.

                  But..... let me ask you this? If it is that easy to fill 12 cards a month why are you not just doing it yourself? Because 12 * $5k * 12 is $720,000 a year before taxes. I'd be buying an MP4-12C next year if I knew I could do that with a 40 hour work week. Hell I'd likely buy it this summer.
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              • Profile picture of the author Dustin Lyle
                Originally Posted by bob ross View Post

                Yes that's a good point Aaron, paying an hourly rate is definitely going to help your chance of landing a good candidate. Most likely though you're going to need to train this person from the ground up, just like a telemarketer.

                I pay my guys $300 per week so long as they make 2,000 phone calls each. I have different commissions and bonuses that they get as well when they set up an appointment or close a deal on the phone.

                Bob,

                So inquiring on those 2000 calls, is your call center prospecting for the print ads or is that a totally separate venture?

                I'm gonna buy one of your products, just waiting for my wife to get in the shower so I can get my debit card out hassle free.. :p

                This is definitely something that I can integrate with my ppc management business..
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      • Profile picture of the author Dustin Lyle
        BOB ROSS! What is up!? lol My dad used to do something very very similar... about 30 years ago, he got the patent on a tabbed flipbook for coupons that was staple bound, about 1" X 3 or 4" and had around 20 pages in it... He would "hit the streets" selling the pages, offering long term contract discounts.

        In 1985 he made 150k by selling each tabbed page of the monthly coupon book for $120 or $1200 for 12 months. He said that each city he was in netted him $1500 per month, and after the first 3 months, he never had to leave the house because people where calling him to advertise in the booklet. He even was able to build a contact list of people that he couldn't even service because the wait list was so long.

        Distribution was simple... One day a month, he would pick the books up from the printer and drive the "route" and drop off the coupon books by the thousand at different retailers in the specific city..... I always thought it was an awesome idea...

        But I like yours a WHOLE lot better!

        Do you think that clients might be apprehensive if its a "for profit" mailing, as in.. not associated with a non-profit/school? Would you suggest associating with one? maybe that would allow you to charge more..
        Signature
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  • Profile picture of the author bob ross
    Originally Posted by Dustin Lyle View Post

    Bob,

    So inquiring on those 2000 calls, is your call center prospecting for the print ads or is that a totally separate venture?

    I'm gonna buy one of your products, just waiting for my wife to get in the shower so I can get my debit card out hassle free.. :p

    This is definitely something that I can integrate with my ppc management business..
    I'd hate to call it a call center but I guess you could. I've just got two guys in a small office cranking out calls and emails. They sell 9x12 spots, printing & design services, and various direct mail packages that we offer.

    It's all really simple too, and refreshing because biz owners virtually never get solicited for print or direct mail services unlike the zillions of calls they get for seo, web design, mobile, etc...

    Originally Posted by soothsayerpg View Post

    This depends upon a country i presume?
    If you're talking about this postcard system it can be done in almost any country. Simply search for your country's "unaddressed mail" program and I can almost guarantee you'll find a similar program.
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  • Profile picture of the author Rearden
    Don't waste your budget on programs that are inherently risky. Until you have more disposable capital.

    Pick up the phone 100-200 times a day asking for appointments to show them what you do for businesses regarding websites and getting more business on the web.

    Fight to see 12-15 appointments a week; deliver a solid presentation, ask for business, and close 25% to 50% of your approaches.

    Total expense; business list (if you're not going door-to-door) and gas.

    Now you're in the Top 1% of WF.com members.
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    David Duford -- Providing On-Going, Personalized Mentorship And Training From A Real Final Expense Producer To Agents New To The Final Expense Life Insurance Business.
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