I met a man today who shared with me his big vision for his business. He had an overview document and he presented an idea that seemed larger than life.
He had got in touch with me because he wanted to hear what I thought of his business idea and to ask about how I got started.
I didn’t feel qualified to comment on the merits of his proposal, but two things struck me. Firstly, if it took half an hour to explain to me, then how could he explain it in an online world in a few seconds…that is all the time we have to capture the hearts of our passes by (visitors). And secondly, making a new sale every time, creating a new relationship, selling in a transactional fashion over and over again can be expensive. So I asked what is the recurring income stream?
It reminded me of something I think my son said to me “Mum how do you eat an elephant …. one bite at a time.” I did not know in 2001 when we started our business how complex it would become and the diversity of audiences we would appeal to. To design it from scratch would have been too hard. RedBalloon has evolved based on listening to customers and taking on board the recommendations of the people around me.
Needless to say, I mentioned to this passionate future entrepreneur … this is why I wrote the book about our first five years in business…where do you start.

Grow & Scale Your Business by Naomi Simson

Tell Naomi a little bit about your business by completing the questions below. (It will take less than 60 seconds)

Answering your #1 Biggest Business Challenge question tip: 

Go beyond just saying "Poor Cashflow" or "Unreliable Team". 

Instead, give Naomi details & specifics on how this is currently your #1 Biggest Business Challenge. 

I.e. "Every month I'm struggling to pay my bills on time because there just isn't consistent cash flow coming into the business. I've tried sticking to budgets in the past & pay myself less to keep some extra funds aside for emergencies, but still every month there seems to be another financial fire to be put out. I don't know what to do about it, so I'm just grinding it out."

 

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