Increasing sales through customer success. Get my customer's customers to be more profitable. This helps make my customers more successful and helps me be more successful! B2B IT Enterprise Cloud sales and marketing, mainly. Industry leader. Business and marketing strategist. Developer of leaders. Performance manager. Currently business coach and consultant with Stanford GSB, Stanford Seed - for growing businesses. And consulting practitioner and blogger. Successful in persuading customers to invest over 100 million dollars, annually, on IT productivity solutions thereby creating new revenue for organisation. Work experience in global scale world leading organisations like Oracle and Microsoft, in India. Superior know how in communicating with widest range of C-level, across industries, across company sizes from enterprises to small and medium, and across technology solutions in software, platform, and infra clouds. Consulting clients range from McKinsey, Bain, and Goldman Sachs to small and medium growing organisations. Work includes business and marketing strategy, tech investment advise, sales closures, lead generation, sales training, turnarounds, and growth hyper scaling. Blessed to be able to give back some through extensive volunteer work. Golf! www.linkedin.com/in/SomeshBhagat www.twitter.com/SomeshBhagat
Hi. Theoretically you can do anything you want. However practically it may be not be adequately profitable or even profitable.
If it is high growth market and you are relatively early then potentially you can do the same thing that others are doing but you have to monetize sooner. As market matures you will need uniqueness to continue to be as or more profitable than your competitors. Else likely you will operate at low margins or even negative which will make you exit the business.
All examples given by you are relatively mature areas with number of competitors, many with unique offering, and many with bigger names. If you go with a similar offering then your cost of entry will be high. This will hurt profitability. There are smarter ways to do this.
Hope this helps. Let me know when we need to talk. Bye.
Hello. I help increase sales through customer success.
I quote below my answer to a similar 'business strategy' question. This outlines an approach. We can talk about your specific need and solution. Let me know. All the best - Somesh
"Business Strategy: In a two sided service marketplace for freelancers what should be the Go-to strategy or the best way to reach the target audience ?
Somesh Bhagat, Increasing sales through customer success answered:
My expertise is in helping expedite business outcomes.
The best advise is to tell your prospects of the unique value of your service or its unique positioning in terms of how it will help your customers. You need to articulate compelling propositions that are irresistible and sustainable. It should be better than your competition and communicated strongly.
A two sided service market place it a tough spot. You have to address two big audiences, who may have totally different characteristics, messaging need, and business development strategies.
Before your Go-to strategy you need a compelling story, a mission, and a vision. You also need to articulate a business strategy encompassing both ends of your business model.
The go-to strategy will evolve from your business propositions, market, business model, and audiences. What kind of freelancers you are taking about - professionals, technicians, labor et al. Who is on the other side of the market place - individuals, households, businesses-small/medium/large/government et al. What is your revenue model and business plan. How strong is your competition? How strong are you versus competition? Do you want to go for the whole market or a niche depending upon your SWOT? How are you different from Fiverr, Upwork, Clarity, and the like or unlike? Your go-to strategy should answer all these questions at the very least.
You may find better and sustainable success going this route.
Hope this helps and let me know if I can be of further assistance for the above. Best wishes."
A business plan will give you a better idea. Map out revenues, costs, and margins for varying realistic range of business volumes and sales models. Do a 'what if' with than model. Analyze yourself and competitors deeply. An substantial scalable sustainable business margin is attainable even in low ARPUs if you get the business strategy right. Do give me a call if you want to flesh this out. All the best.
A better question to ask in my polite opinion is what offer you make that cannot be refused, to paraphrase Godfather, and to whom. You have to analyze your competition and your business deeply. Then define what is the intersection of a large market, great proposition, ability to service, and unique value. I recommend focusing on the customer first and then on the product. If you want to flesh this out give me a call. All the best.
I think you should first prepare a business plan and be able to prove that you can achieve the same. Then prepare a pitch deck with propositions for investors. It is only then that an investor may give you a hearing. In my polite opinion, I think a lot of diligence needs to be done still before you reach that stage. Do give a call if you need to discuss this and flesh this out. All the best.
I help increase sales through customer success. Implicit is analyzing business strategies.
If you have been turned down, likely your investor pitch needs strengthening. Your business is profitable but may need stronger articulation of risk mitigation and competitive edge, to give investors comfort. If you look at learnings from rejections closely they may give clues on what to strengthen. I felt you need to do a rigorous failure analyses. Let me know if I can help here.
All the best.
I help increase sales through customer success. This also subsumes being a marketing and sales strategist.
From your question it seems to me, that before you reach out to anyone, you need a business strategy. Else shooting arrows here and there will consume a lot of time, energy, and money, not to mention enthusiasm.
You have to articulate clearly:
- your value proposition
- how is it different from your competitors, (remember Europe and USA are very saturated, crowded, and mature markets for offshoring, with lot of established and smaller competitors)
- Who are your top 3 market segments
- what is your ability to service the above, (think of it from customer's view point - why would they give you an order versus to your, equally, if not more established and cost-effective competitors, from around the globe?)
The intersection of above will give you an outline of a business strategy. It will also give you a basic time bound sales and market plan. It will also give you a better idea of customer profile and geography to focus on, for the first 6-12 months. It will give you an idea of what sales revenue to aim for, with what expenses, margins, and cash flow; how much investment is needed. It may so evolve from this analyses, which will include a SWOT, which are your most profitable markets, do they include USA or Europe, or are there other possibilities etc. It will answer if you will you sell on your own or use a partner? What kind profiles? How will you equip sales or partner to be able to represent your strengths well.
I can help you evolve answer to some or all or more of these questions depending upon what scale you are looking for. You can read some of my articles on LinkedIn what cover such topics. If of interest, I can point 1-2 specific ones. Let me know if we should get on a call say 11.30 am Lebanon time between 7-9 Dec or you tell me a preference.
Hope this is of value. Look forward. All the best.
In times of Covid, travel customer acquisition is going to be tough. Not sure if your business serves businesses or consumers or both.
An alternate business model has to be explored. One idea is, like everything going virtual, can travel also go virtual. This is virtual and augmented reality stuff. The other is to offer some other product to the current base of customers and try additional revenue streams, than go after new ones.
Timeframe of recovery for travel is uncertain. So preserve cash and reduce costs, and tide over to recovery.
One option also may be to explore a 'Covid-safe' travel...ensuring social distancing, sanitised travel, venues, and locales.
This is a tough time for such a business.
Let me know if you want to brain storm a strategy for your business.
All the best and stay safe.
Do a SWOT of your business and it will help you get answers.
Also draw out scenarios in each case of business projections over 3-5 years and compare based on rates of returns, risk and investments etc. to decide.
Let me know if you need help to think through.
All the best.
Decide based upon your business plan. What is your sales target for say next two years. What are the gaps. What is the best way and best product market fit to meet that gap.
Assess how many additional customers, opportunities and prospects you need, and which market.
Then get into marketing.
If your run rate will get you the number then focus on existing and visible potential customers. If your capacity to follow up is x then generate x amount of leads.
All the best.