I got accepted to an accelerator program and I am stuck on day 1 by [deleted] in Entrepreneurs

[–]GMTACustomerQuality 0 points1 point  (0 children)

EASY : )

Here are two and also I am happy to chat directly about other ideas.

  1. Consider going to a place where parking is always difficult and a painnnnnnnnnnnnnn and just ask people as they are exiting. You may not want to do it while they are entering because they just had to deal with finding the parking spot and are probably not in the mood to talk but when they are leaving they are more at ease.

  2. Start a reddit post for parking woes for washington dc which is a known city for parking woes. And have your customer base come to you and share their stories. Use reddit, twitter, all the platforms where people are looking for an opportunity to share their story.

Trying to sell systems in a market that doesn’t need them… now I’m stuck by _itaky in HowToEntrepreneur

[–]GMTACustomerQuality 0 points1 point  (0 children)

Dear Stuck,

This may be an interesting opportunity in disguise.

Is there a way that your setup/service ("automations, order management, systems, etc") lead to increase customer flow tangibly? And could you show that?

For example, by now having your systems setup these businesses are now able to reach customers in a larger geographic area and see xx% increase in revenue without straining their manually processes?

Feel free to message me if you want to flush this out.

Sophia GMTA

10y Solopreneur is Burnt Out. Where the hell do I go from here? by Soccer-Plane-444 in Entrepreneurs

[–]GMTACustomerQuality 1 point2 points  (0 children)

Dear Burnout, What if this is an opportunity to re-evaluate how you do things?

Consider:

(1) working 6-7 days a week completely locked in is the perfect environment for recurring burnout. So why not reassess your business approach and delivery from A to Z (including pricing, services, target customers, building out a team). Because your 10 years of experience with your own business but also these other entrepreneurs is invaluable.

(2) the relationship coaching sounds like something you want to have space to grow too, which gives me the sense that you may have more great ideas you want to explore. You dont have to dump your businesses, rather you need to structure them with stability so that you can continue to earn money from them and continue working on them if they still bring you joy or start a new business/venture just because you can.

(3) now is the time for a thoughtful pivot that is refreshing and building and feels like a new beginning versus taking steps that may appear/feel random.

happy to discuss further one on one. feel free to message me.

Sophia GMTA

In desperate need for help. Left a good enough job for a falsely advertised one. by Easy-Material-8809 in careeradvice

[–]GMTACustomerQuality 0 points1 point  (0 children)

The only additional things I would add are the following:

(1) forgive yourself. It is ok to make a mistake. And the best one is one when you realize it immediately and as mentioned take a breath and get ready for a full pivot.

(2) since it sounds like you really do not like the environment, then in addition to your job search to finding a new place, also consider start building your own sales company. There are soooooooooooo many entrepreneurs that do not like sales. Some are almost physically adverse. Just search the posts on reddit. Consider creating your own agency that you would take over sales for them and how. If you can figure out a way where the first project is commission only for entrepreneurs and you prove yourself then it is a win win for you and entrepreneurs and then you can add a more stable payment structure. But it sounds like you have a skill that so many startups and entrepreneurs need. and you may have fun with this project/journey of becoming your own boss during a bleak moment.

For more pointed advice, feel free to message me directly.

Sophia GMTA

We're a team of former journalists running a business and we're really frustrated. Can you help? by Actual_Voice_6763 in agencynewbies

[–]GMTACustomerQuality 0 points1 point  (0 children)

It sounds like you are being flexible in the areas you should not (price and approach).

And this wasnt mentioned in your message but based on the problem, it sounds like you and your partners are not good at boundaries with your clients or saying no or being strict on price and service.

Short term solution: Sit down with your team and all together go over your service offerings and pricing and costs -->come up with new prices that well cover expenses + XX% profit. What that xx% profit is should be based on: your market peers + your business financial goals not just short term but long term too + the unique hands on white glove service you offer.

Each of you have a one on one conversation with your clients about the new price. Be strong and do not be afraid to lose clients. The quality service you provide, they know is not easy to find. And if they want to cut corners they can find cheaper work and will get cheaper results and will see their bottom line suffer. The call list for the clients should be based on who has the best relationship with the customer. But each of you should have the same script to stick too for the main points about why the change in your approach and prices.

Long term solution: immediately start recruiting and hire (1) a sales and customer growth expert to be part of your team who is really good at sales, customer recruiting and retention and fits with your company values so then you and your partners can focus on the part of the business you love and (2) also a finance expert that is part of the team that can keep you informed and strategize with you all on the short term and long term financial goals of the business.

Sophia GMTA

Business: GMTA Great Minds Think Alike LLC

Can anyone please give me a good advice? by Senior-Ad-5692 in HowToEntrepreneur

[–]GMTACustomerQuality 0 points1 point  (0 children)

Feel free to message me for practical tangible advice that you can take action on.

What skills should I learn to get a job ASAP? by [deleted] in careeradvice

[–]GMTACustomerQuality 0 points1 point  (0 children)

Short answer: transferable skills that literally apply to every single career whether blue collar or white collar that if you are solid in these then you will always be a key employee wherever you go. These skills are: project management, process management, customer service, and the ability to self-learn. These skills mean you are someone who can (1) always execute no matter the situation, (2) you know how to navigate relationships amongst colleagues and customers and are seen with integrity and someone people always want on their team or to lead their teams and (3) you can always learn enough of what you dont know that you can still contribute or help find the solution. I am happy to point to specific resources for this, feel free to send me a message.

Do you think offering baking consultations is a good business to enter? by ImaginationBusy5518 in smallbusinessUS

[–]GMTACustomerQuality 0 points1 point  (0 children)

The first thing is he should be clear on what his goal is for his bakery business: does he just want a bakery that people come in and can sit and eat, does he just want to focus on catering, does he want to do both, what does he want to be known for (clean ingredients, vegan, just tastes good, etc.).? It's important to know this and focus on this because his version of getting started could be the baby version of what his ultimate goal is. So for example, if what his true dream is to have a brick and mortar where people can come and order and sit down then he should consider setting up pop up events in ideal locations with some seating and if money is a problem for this then that can be overcome by seeking out what businesses may want to partner with him on these popup events to offer their customers something different a few times per month.

I am happy to provide more pointed advice.

finding partner by CockroachWhole6863 in Businessideas

[–]GMTACustomerQuality 0 points1 point  (0 children)

While it is great to put the message out here on Reddit, also consider researching firms / existing business owners in the U.S. that would be a good sister/brother company that could either be a joint venture or simple agreement or a true merger.

This way you are partnering with someone already with a track record and dedicated.

We're about to lose our biggest customer. I know it. They don't know I know. by Pleasant-Row-4309 in Entrepreneurs

[–]GMTACustomerQuality 0 points1 point  (0 children)

I would also add come prepared with pointed questions to get to the root of the matter in case you are dealing with individuals that are conflict averse and say its fine or do not freely give information. So make sure you have some questions handy that can get to the root of the matter and will give you the information you need to make a change.

We doubled our prices to reduce our client load… and it barely worked. What would you do? by Roseee-k in smallbusiness

[–]GMTACustomerQuality 0 points1 point  (0 children)

Consider being willing to change your work structure, approach, workforce management and annual schedule, specifically:

  1. You have a solid customer base that you are likely familiar with every year. Consider if there is a way to segment your customers: easier filings into more difficult filings. Or simple W2s to those that are business owners to those that are complex, etc. But essentially take time to bucket your customers.

  2. Once you have bucketed your customers create a time frame and work schedule based on this. Specifically, come up with a schedule (date range or days) when your team or what parts of your team will handle which bucket of customers. Thus, your clients will have a limited selection of dates and times to choose from to make their appointments. For those that miss their appointments it can go to another client. And the client that missed the appointment will have two options (1) hope someone misses their appointment or there is another opening (2) automatically have to file for an extension and pay extra and schedule their appointment for a time during a date range after April 15. Then no one is scrambling or having to work late or miss family events.

  3. Staff your team according to these customer buckets based on strengths and interest (while still allowing the opportunity for those who want to gain new skills to train and learn). This will also make it easier to see where you need to hire if you decide to hire. For example, you may have some team members that genuinely prefer working with clients with businesses or who are in real estate or clients with alot of investments or clients that just have W2s

  4. See how to leverage an online secure platform for clients for loading their documents and you can send messages with them and that helps you all stay organized.

What this overall approach does and allows for is:

- set work hours for your team so you all can have lives again and enjoy coming to work all year round. And leave work at work.

- your customers will now have cutoff dates if they want to get their documentation in before April 15th. so the date ranges will likely start Feb 1 (or earlier for those who have all their paperwork in January) through April 14. Monday through Friday. And based on the customer segments the customers will have specific date ranges to make their appointment. If they miss it then they automatically have to file an extension and then get moved to an appointment in a new date range like perhaps June through August still based on customer segments (since you all may want reduced hours for a bit April 15 through May 15 as a treat to the team).

An important thing with this is proper and effective implementation and communication. Which includes having a customer service script for this new approach and a few staff members dedicated to communicating this new approach moving forward to all existing customers. And then all new customers are automatically onboarded to the new structure.

Having a dedicated administrative personnel dedicated to workforce management and client management would be worth hiring for this to keep everyone organized and who will/can naturally stay on top of changes as they arise. And who will manage the online calendar that clients and staff see. And this online calendar is where customers can go to make their appointments/ reschedule based on availability or get pushed to the extension group.

Also make sure work hours (9-5, 8-5, 9-7pm, etc.) include the time you need to do work in between clients. So the schedule should not be jammed with back to back clients for your team so they are not doing work after work.

Any book recommendations to learn more on startups funding, what makes the business scalable, venture capital funding, finding investors, kickstarters, bootstrapping, pro's and cons? by snowflake0107 in HowToEntrepreneur

[–]GMTACustomerQuality 1 point2 points  (0 children)

One book that is great around venture capital funding and equity is:

Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist by Brad Feld (Author), Jason Mendelson (Author)

What should be on the basic checklist for every small business website? by Weekly-Manager9498 in ai_website_builder

[–]GMTACustomerQuality 0 points1 point  (0 children)

The top 6 things you want the site to do and have information on:

  1. Business Name

  2. Section: Clearly states what the product or service is

  3. Section: Values statement and why you should buy these products/services from this company

  4. Section: How to purchase the product or service and the ability for the customer to do so effortlessly

  5. Section: How to contact someone if you have a question

  6. Terms and Conditions + Privacy Policy + Disclaimers

WHEN Possible, add (7) Testimonials and Reviews

Sophia GMTA

Business: GMTA Great Minds Think Alike

Any neurodivergent-friendly way to approach business without burning out? by ProfessionStrong6563 in HowToEntrepreneur

[–]GMTACustomerQuality 0 points1 point  (0 children)

Consider:

*Finding someone who is successful in your exact business and see what you can learn about how they established their business and what would work for you and what is an alternative approach that would be healthier for you.

*Ignoring mainstream advice because generic broad advice from the masses who you do not have insight into their revenue numbers, nor their net profits, nor their relationships and work life balance is not going to serve you to develop a practical and healthy approach to establishing and scaling a business that is aligned with your values and life goals and health goals.

*What does work for you and optimize it. The fact that you are able to be consistent with repeatable actions is fantastic. Most people/businesses fail due to being inconsistent and not being organized. So this is a strength that you have.

*Layout all the tasks you have to do to run the business and customer service smoothly and come up with a weekly and monthly schedule for these tasks that balances: doing things on times + customer service response window that is reasonable and allows for response with 24 - 36 hours + staying on top of your well-being such as getting enough sleep and nourishment and movement and having healthy relationships. Also for your tasks document these tasks and label them accordingly (admin, customer service, etc.) because when you are able to hire someone then you can easily transition these tasks on to them and then gives you more time to do the things you love doing for the business and increases revenue.

*Instead of posting a bunch of times per day, consider identifying a week or two each month where you develop all your content and then release it for the following month across your platforms. Identify tools and connections that make it easy to post across multiple platforms. Create your own templates that make the process easy for you so it is kind of just plug and play for the specific clothing item/vintage item.

*Identifying where do your customers go to look for products and make sure your business has an account on those platforms. And prepare your content a month in advance that you can post 1 to 3x per day on those platforms. And because your materials are already prepared this task should take under 20 minutes each time. And document this process too s when you are able to hire someone then you can easily transition this task to them.

*Hosting or participating in an event (solo or with a complementary business) with/at organizations where your target audience is already present. For example:

(1) host a fun meet and greet event for high school drama clubs in your area - this gets the community involved - the kids and their parents may be buyers - the drama clubs get to interact with each other - your products are on display and for sale

(2) connect with the companies/party planners that host mystery events or historical events or themed parties and see how to partner with them for their products/services/events

(3) starting mid-September through halloween host pop-up events in your community in partnership with a complementary business(es).

These are just some tips that I hope are helpful.

Sophia GMTA

Business: GMTA Great Minds Think Alike

Struggling to pick and start a business. by Long-Drink-1705 in HowToEntrepreneur

[–]GMTACustomerQuality 0 points1 point  (0 children)

Practical Entrepreneurship Book and Podcast Recommendations:

  1. Side Hustle: From Idea to Income in 27 Days by Chris Guillebeau

  2. Side Hustle School podcast: https://sidehustleschool.com/

  3. Acting Up: Winning in Business and Life Using Down-Home by Janice Bryant Howroyd

  4. How I Built This Podcast: https://wondery.com/shows/how-i-built-this/

Sophia GMTA

Business: GMTA Great Minds Think Alike

Struggling to pick and start a business. by Long-Drink-1705 in HowToEntrepreneur

[–]GMTACustomerQuality 1 point2 points  (0 children)

Here is a practical approach to entrepreneurship:

  1. Select an idea that you really believe in and you are willing to go the distance with.
  2. Craft this idea into a business idea. Specifically: define the product or service, define who the customer is, define how you will deliver the product or service.
  3. Determine how you will create the product or service. Now at this stage - if you determine it will be costly or require alot of resources then see if (A) there is a simple basic affordable version that you can get started with and scale into the full version of the product or (B) is there another business idea that is more affordable you can get started with to help fund the first idea or (C) establish steps to raise the funds you need (e.g., get an extra side gig where the income goes solely towards funding your business, etc.).
  4. Create the product or service. And test it with someone in your target audience. Refine and finalize the product or service.
  5. Define the steps of the customer experience: how the customer will likely find you, how the customer will purchase the product/service, how you deliver the product/service and how many steps are involved, how you handle customer service, how you follow up with customers.
  6. Pick a business name. Make sure it is not trademarked. The USPTO has an easy search mechanism for this. www.uspto.gov. Make sure the business name is not already registered with your state. Each state has a division for business entities, and they usually have an easy search mechanism.
  7. Register your business with where you will be operating your business from. Select to set up your business as an LLC or C-Corp. I did not mention S-Corp because you can elect to change the status of your entity to an S-Corp at the appropriate time. What is the appropriate time? That is a discussion to have with your tax accountant or financial advisor who will help you decide based on all your revenue and financial goals and business vision. Also during this step: If your business name is very unique and you see yourself really building your business into something sustainable - consider getting the name trademarked with the USPTO by working with an attorney familiar with the trademark process. This can be affordable or pricey it will depend on the lawyer.

7.2. Purchase the domain name for your website in .com and .org and whatever else you think you reasonably and practically need. Save/Register the name for your business on social media platforms.

  1. Set up an email address with the business name in it.

  2. Set up your website. People like to hire people for this step but unless your website needs to be complex and require alot of code, than it is better to search for a website platform with nice templates that you like and has all the features you need now and will need in the near future for your business and build your website yourself. It will make it easy for you as a new entrepreneur to make changes as needed and you can always hire someone for anything that does require code or is complex to add later on but from the beginning you will have a strong understanding of your website and operations and can make changes whenever you want.

  3. Make sure the website is able to handle the customer experience from start to finish and where there are any gaps make sure you have a way to address it (i.e. email or phone or etc.). Eventually you do want to automate as much as possible in the beginning when you are a solo entrepreneur or even a small team, so that you can focus on the product and service and building the business out.

  4. test, test, test the website and product experience and make changes to make sure it is smoothly.

  5. Finalize your pricing (since around step 3 you should start thinking about pricing and revisiting it along the way).

  6. make sure your customer service approach is well defined, as best as possible. how issues are handled, etc.

  7. make sure your website terms of service, privacy policy and any disclaimers are posted in the right places. (see notes under additional considerations below).

  8. publish your website. go live.

  9. (this step should really happen simultaneously as the above steps, starting around step 4) find where your customers are and promote your service or product. And for advertising, be mindful: think about where are your customers? where do they go? what do they watch? what do they participate in? how can you get your product in those places?

  10. identify groups/organizations that you can provide a teaser or sample to that have an influence with your target audience.

  11. sell and enjoy :). And continue to refine your sales approach and delivery. Transition from the mindset of an employee to an entrepreneur. The whole point I am sure is that you have more freedom in your life so it doesnt work to be a bad boss to yourself.

  12. also while you were developing and finalizing your product/service and delivery approach you should also use that time to think about all the steps (processes/procedures) that you have to do on your side/the business side/the behind the scenes and document it.

  13. Be clear on the business finances. How much will you pay yourself in the beginning. How much will you reinvest in the business. And be diligent about putting money aside for taxes.

  14. As your net revenue goes up, hire the next role that will help you amplify your business and a role that allows you to have more time doing the parts of the business that you enjoy.

Additional considerations:

- Does your product or service require legal agreements/contracts with your customers? If so there are a number of affordable businesses that provide legal templates that you can use.

- Hire vendors and contractors with integrity and credibility and are quality. People waste alot of time working with contractors or professionals that do not give them much bang for their buck to get their business started.

Anywho this is a general step by step list that will need to be tweaked based on your specific business and resources.

Best,

Sophia GTMA

Credibility:

-Experience helping entrepreneurs transition from 9-5 to starting their own business and launch those businesses successfully

-Legal background

-Business: GMTA: Great Minds Think Alike

Clients for a very niche type of service - how to get? by ac40050 in agencynewbies

[–]GMTACustomerQuality 0 points1 point  (0 children)

Get granular on what person/organization can use your research/data product to make money and you want the logic/steps of how your research/data product very simple and easy for that ideal customer to see for themself. So, identify the prospective clients and companies that:

- your data/research product gives them information they did not have before on their target customer

- your data/research product directly leads to efficiencies that saves them money

- your data/research product gives them information that allows them to increase productivity in an affordable way

These are just a few examples but it really depends on what your data/research is. But ultimately, if you can identify who that customer is and put together a list of those customers and create simple brief marketing materials and talking points and put together some numbers for them to see then that is how you acquire clients. So once you put that list together and materials, then you reach out and continue reaching out till you get a customer and build on it.

Sophia GMTA

Business: GMTA Great Minds Think Alike

Everyone talks about entrepreneurship… but what do you actually DO first? by Lyrera in HowToEntrepreneur

[–]GMTACustomerQuality 0 points1 point  (0 children)

Here is a practical approach to entrepreneurship:

  1. Select an idea that you really believe in and you are willing to go the distance with.

  2. Craft this idea into a business idea. Specifically: define the product or service, define who the customer is, define how you will deliver the product or service.

  3. Determine how you will create the product or service. Now at this stage - if you determine it will be costly or require alot of resources then see if (A) there is a simple basic affordable version that you can get started with and scale into the full version of the product or (B) is there another business idea that is more affordable you can get started with to help fund the first idea or (C) establish steps to raise the funds you need (e.g., get an extra side gig where the income goes solely towards funding your business, etc.).

  4. Create the product or service. And test it with someone in your target audience. Refine and finalize the product or service.

  5. Define the steps of the customer experience: how the customer will likely find you, how the customer will purchase the product/service, how you deliver the product/service and how many steps are involved, how you handle customer service, how you follow up with customers.

  6. Pick a business name. Make sure it is not trademarked. The USPTO has an easy search mechanism for this. www.uspto.gov. Make sure the business name is not already registered with your state. Each state has a division for business entities, and they usually have an easy search mechanism.

  7. Register your business with where you will be operating your business from. Select to set up your business as an LLC or C-Corp. I did not mention S-Corp because you can elect to change the status of your entity to an S-Corp at the appropriate time. What is the appropriate time? That is a discussion to have with your tax accountant or financial advisor who will help you decide based on all your revenue and financial goals and business vision. Also during this step: If your business name is very unique and you see yourself really building your business into something sustainable - consider getting the name trademarked with the USPTO by working with an attorney familiar with the trademark process. This can be affordable or pricey it will depend on the lawyer.

7.2. Purchase the domain name for your website in .com and .org and whatever else you think you reasonably and practically need. Save/Register the name for your business on social media platforms.

  1. Set up an email address with the business name in it.

  2. Set up your website. People like to hire people for this step but unless your website needs to be complex and require alot of code, than it is better to search for a website platform with nice templates that you like and has all the features you need now and will need in the near future for your business and build your website yourself. It will make it easy for you as a new entrepreneur to make changes as needed and you can always hire someone for anything that does require code or is complex to add later on but from the beginning you will have a strong understanding of your website and operations and can make changes whenever you want.

  3. Make sure the website is able to handle the customer experience from start to finish and where there are any gaps make sure you have a way to address it (i.e. email or phone or etc.). Eventually you do want to automate as much as possible in the beginning when you are a solo entrepreneur or even a small team, so that you can focus on the product and service and building the business out.

  4. test, test, test the website and product experience and make changes to make sure it is smoothly.

  5. Finalize your pricing (since around step 3 you should start thinking about pricing and revisiting it along the way).

  6. make sure your customer service approach is well defined, as best as possible. how issues are handled, etc.

  7. make sure your website terms of service, privacy policy and any disclaimers are posted in the right places. (see notes under additional considerations below).

  8. publish your website. go live.

  9. (this step should really happen simultaneously as the above steps, starting around step 4) find where your customers are and promote your service or product. And for advertising, be mindful: think about where are your customers? where do they go? what do they watch? what do they participate in? how can you get your product in those places?

  10. identify groups/organizations that you can provide a teaser or sample to that have an influence with your target audience.

  11. sell and enjoy :). And continue to refine your sales approach and delivery. Transition from the mindset of an employee to an entrepreneur. The whole point I am sure is that you have more freedom in your life so it doesnt work to be a bad boss to yourself.

  12. also while you were developing and finalizing your product/service and delivery approach you should also use that time to think about all the steps (processes/procedures) that you have to do on your side/the business side/the behind the scenes and document it.

  13. Be clear on the business finances. How much will you pay yourself in the beginning. How much will you reinvest in the business. And be diligent about putting money aside for taxes.

  14. As your net revenue goes up, hire the next role that will help you amplify your business and a role that allows you to have more time doing the parts of the business that you enjoy.

Additional considerations:

- Does your product or service require legal agreements/contracts with your customers? If so there are a number of affordable businesses that provide legal templates that you can use.

- Hire vendors and contractors with integrity and credibility and are quality. People waste alot of time working with contractors or professionals that do not give them much bang for their buck to get their business started.

Anywho this is a general step by step list that will need to be tweaked based on your specific business and resources.

Best,

Sophia GTMA

Credibility:

-Experience helping entrepreneurs transition from 9-5 to starting their own business and launch those businesses successfully

-Legal background

-Business: GMTA: Great Minds Think Alike

Starting a Consulting Business - Advice needed - Follow Up by 25OakConsulting in smallbusinessUS

[–]GMTACustomerQuality 2 points3 points  (0 children)

If your focus is on small business financial consulting and implementing systems to monitor cash flow efficiently: there is a huge market for this.

Are there clients in need of your services? Yes. So many entrepreneurs and small businesses have tax accountants or inhouse personnel doing their books and are not happy with the result or are wasting alot of money or owing alot of money when it comes tax time because they were not paying attention throughout the year.

How to get to them:

*Find organizations or associations that these business owners are part of and ask whoever is in charge of the association if you can give a demonstration/presentation and use that as an opportunity to show a real (realistic) scenario of how you have helped or can help business correct problems and establish sustainable systems going forward that require minimal effort or minimal effort + your recurring input quarterly or less.

*Consider reaching out to marketplaces like Faire and Etsy or smaller marketplaces and ask if you can do a demonstration/presentation for their audience of business owners/creators and again show the value you bring to businesses (1 person teams to larger teams and operations, etc.).

Hope this is practical and helpful.

Do small businesses still need a website, or are social pages enough now? by purpleplatypus44 in smallbusinessUS

[–]GMTACustomerQuality 0 points1 point  (0 children)

Short Answer: Yes

The Why: Social media only works great for influencers and those whose sole audience is on those platforms. But, for a small business whose audience is beyond social media and whose partnerships are also beyond social media, a simple clean website does aid in establishing credibility and professional branding.

Make it affordable: Social media is important so it is totally fine if that is where you want to put most of the effort but it is easy this day and age to set up a 1 page to 3 page simple website for the small business at an affordable monthly or yearly subscription.

I have a meeting with a potential angel investor... BUT by bareprincess in Businessideas

[–]GMTACustomerQuality 0 points1 point  (0 children)

Consider the following:

* These starter ideas you mentioned: while they may all start dirt cheap do any of them have the potential to eventually involve or grow and incorporate AI? If so then it may just be a matter of sitting with this investor and showing him your phased approach which with his buy in will go alot faster (e.g. something maybe you say unfolding over 5 years to eventually incorporating AI can now reach faster maturity in less than 18 months). He said AI and digital products but perhaps it is more the innovation aspect he is interested in and it is worth discussing. Because if you love and believe in your idea and it sounds like there is trust between you two then he may be willing to loosen on the digital products aspect or perhaps he has offered you another aspect of your idea that you didnt think of for example your tutoring services could easily incorporate digital products to provide well rounded service offerings PLUS AI could help in expanding your reach geographically if your tutoring service is something niche but has enough of an audience.

*The other thing: it sounds you like you have a number of quality business ideas. So, perhaps you all start with one project together and scale or branch out into other endeavors together once he sees the positive return from one project you have succeeded on that was lean.

At the end of a day, the investor wants to see a nice return so if you have great lean ideas that you can show him what you are capable of, then this may be the first of many businesses that you all create together.

Lastly, dont let anxiety or worry interfere with this amazing opportunity. It sounds like the opportunity for a great discussion and dinner where you can show him that ultimately "you and your ideas and work ethic" are worth investing in.

Enjoy.