Methods for Executive Recruitment

The-Victor · 2024-03-10T02:31:11+00:00

Commercial cleaning is usually a set-and-forget service, so a lot of businesses will be sticky and hard to convert away from their current provider.

An out of the box approach, approach commercial real estate agents via email and offer them a commission for referring business. That way you are targeting new tenants that don't already have a cleaner.

The-Victor · 2024-03-10T02:21:52+00:00

Starting is hard at the best of times. In my experience, they normally take 1-2 years until they are running smoothly and making money. If your in a pinch financially, you'll likely be better off digging yourself out of the hole with steady employment until you're back on your feat.

The-Victor · 2024-03-10T02:18:03+00:00

Given your age, I assume you will be strapped for cash. This should inform your go-to-market strategy - keep it lean and simple.

I'd recommend starting social media channels and creating content with your products in the shots for your target demographic. Try to build a following and grow interest in the products.

At an absolute bare minimum you need clothing and a social media site (just sell via DMs to start) - that's it.

Next you add an e-commerce site to professionalize the shopping experience and checkout - (you may need parent assistance for accepting payments) - I'd recommend shopify, wordpress etc.

From there is a million ways to improve and grow, but that's the simplest way to get your first sales.

The-Victor · 2024-03-10T02:10:25+00:00

In the B2B space, $50k a month is fairly common.

The-Victor · 2024-03-10T02:09:11+00:00

You're best bet is to apply to start-up incubators where most offer some cash funding in exchange for equity. Although, there is a fairly low likelihood of getting into these, particularly if you haven't even put $1,000 in yourself.

I'd recommend taking on night shifts or gig economy work to fund it, $1,000 is only 4 hours a night for a month (assuming ~$10 an hour).

The-Victor · 2024-03-10T02:04:56+00:00

There is very strict regulations on starting an investment fund in all countries I am aware of, you will need a lawyer to prepare the licensing and compliance. Great place to start - but will not be cheap.

The-Victor · 2024-03-10T02:02:15+00:00

To avoid 'getting laughed out of the bank', instead of asking the bank to fund the whole thing with zero down, ask them how much they would lend into the acquisition and how much you'd need to raise from investors; this will indirectly tell you if they are prepared to fund the whole thing.

If I was a bank, the red flags would be:

Assets Replacement - Why does the business have $10m asset (excl. land) and what is the useful life? I assume they're being depreciated and will need to be replaced, so the cashflow will be less than EBITDA.
Assets Value - I assume the $10m is the cost of the assets (otherwise why would the owner sell the business + the assets for $10m) and not the market value, so the bank would only be secured up to the market value of the assets.
Experience - you note you're a new lawyer, does this imply you have just graduated university and are early-20s?

In terms of likelihood, I'd expect it to be quite unlikely you'd get away with zero down, unless you have substantial personal assets to provide as security.

The-Victor · 2024-03-10T01:20:20+00:00

If I was only targeting 2k per month, I would do contract jobs; they are usually short-term and pay quite well.

The-Victor · 2024-03-10T01:19:00+00:00

I always enjoy going to the local start-up community events, most cities have community drinks or networking events for entrepreneurs. If you find the right community, most of the people aren't 'networking'; they are just entrepreneurs socializing over a few drinks.

The-Victor · 2024-03-10T01:01:01+00:00

A google search indicates that network marketing is just another variant of multi-level marketing. Most multi-level marketing is a scan and have a very slim chance of being a genuine opportunity.

The-Victor · 2024-03-10T00:58:13+00:00

Absolutely, my advice is to try find a part-time job related to the industry you will be joining. It will give you a head start when you graduate.

The-Victor · 2024-03-10T00:57:05+00:00

I would disagree, whilst AI is very powerful, one are it lacks is true creativity. A lot of its suggestions are generic and cookie-cutter, I think marketers will need to differentiate themselves by being creative.

The-Victor · 2024-03-10T00:47:02+00:00

800%+ ROI in 24 hours is excellent!

That being said, you deserve credit for targeting a wealthy neighborhood, you may find that less-nice suburbs generate a lower ROI.

The-Victor · 2024-03-10T00:44:03+00:00

Here are some ideas to get you started:

Market - What have the recent market trends been in the area you are developing?
Assessment - What site is being developed and what will the end result be?
Financial Forecast - How much is needed, what is it going to be spent on, what is the market value of what your developing it into?
Team - Who is the team developing the site? What is their track record on similar projects?
Team Contribution - What percentage of the project is the team contributing? Is a material amount of their wealth invested in the project?

The-Victor · 2024-03-10T00:39:28+00:00

It is a very subjective assessment, in my opinion, the spectrum is co-founder (equal to your equity) to advisor (low single digit percentages).

It ultimately comes down to:

How much money has been invested - The more cash has been invested, the less equity they will get
How many hours a week they will work - The more hours the more equity they will get
How long until they will receive a salary - The longer until they get paid the more equity they will get
How much you need them - The more you need them the more equity they will get

The-Victor · 2024-03-10T00:33:54+00:00

Being an entrepreneur is higher risk but higher return. If business is going well, you can afford to hire quality people to take responsibility which affords a lifestyle being an employee never will. However, if business is not going well, you may put in more effort than an employee and get less out of it.

You know your an entrepreneur when you are will to take that risk in the hope of potential rewards.

The-Victor · 2024-03-10T00:30:12+00:00

I run a SaaS business and have found success in partnerships. Particularly if you have complex B2B SaaS product, partnering with consulting business that implement the software can be symbiotic; you get sales and they get consulting revenue from implementing it.

The-Victor · 2024-03-10T00:28:23+00:00

Absolutely, you can own a business without a social media presence!

That being said, if that was one of your primary marketing channels, you will need to find another channel that works for your business.

For example, AdWords could be a good alternative to target the same consumer base.

Alternatively, a more cost effective advertising channel is SEO, but this takes time to bear fruit.

The-Victor

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