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  • #983562
    SandraMac
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    • Total posts: 20
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    Hi All,

    I’m thinking of starting a business in Melbourne to help business owners with their marketing strategy. The reason why I have come with this idea is due to my passion for marketing as well as through speaking to 1000’s of businesses about their previous attempts. Also with my background in sales I understand the pressures sales people have to sell as much as possible, and not always in the benefit of the client.

    I would offer my services free to those needing help as long as they had a minimum budget spend of $3000. I would make my money by charging commission to the businesses that my client signs up with. Part of my recommendations definitely would mean I wouldn’t receive commission. For example, if I believed that having a Yellow Pages presence would be suitable for the clients industry, that would be something I would not receive commission on.

    I already have some contacts for different marketing Mediums that i know have proven results. If I went ahead with this idea I would need to make other contacts so that I had access to all the mediums of marketing that is available.

    I have a couple of questions that I would appreciate any feedback that I could get.

    For those businesses looking at how to market your business right. Would my kind of service interest you?

    For businesses specialising in different marketing mediums. Would you be interested in working with someone that could refer sales to you on a commission basis?

    Thanks

    Sandra

    #1143063
    Jodie McLeod
    Member
    • Total posts: 345
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    Hi Sandra,

    Welcome to the forums on behalf of the Flying Solo team!

    It sounds like an interesting business model, and it’ll be interesting to hear what the community has to say.

    Best of luck with starting up and I hope to see you around!

    Jodie

    #1143064
    MH08
    Member
    • Total posts: 284
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    Sounds inconsistent?

    Is it free or do I need a budget of $3,000?

    I take it that you have the contacts in the right area’s of the industry for people to advertise their business, you create the introduction to the medium, your client pay’s for it and then you take a commission from the business that takes your client.

    So what’s exactly free?

    Great concept but it sounds like financial planning on a marketing scale.

    Professional indemnity insurance may be needed here?

    Also what will be your effort against conflict of interest?

    #1143065
    Collins Insurance
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    • Total posts: 32
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    Hi Sandra,

    I kind of understand what you meant by free and your commission part.

    Yes, to both your questions.

    I am a new business owner and wouldn’t mind free advice as long as its worth the $ I spend the end of the day. Cost is really something I have to control wisely this stage.

    Its still up to me to decide right? So I won’t push you into buying Professional Indemnity insurance although my business is insurance.

    Cheers,

    #1143066
    SandraMac
    Member
    • Total posts: 20
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    FS Editor, post: 163642 wrote:
    Hi Sandra,

    Welcome to the forums on behalf of the Flying Solo team!

    It sounds like an interesting business model, and it’ll be interesting to hear what the community has to say.

    Best of luck with starting up and I hope to see you around!

    Jodie
    Thanks Jodie!

    I still have to work out the fine details. That’s why I posted here to get some thoughts on my idea.

    #1143067
    SandraMac
    Member
    • Total posts: 20
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    MH08, post: 163645 wrote:
    Sounds inconsistent?

    Is it free or do I need a budget of $3,000?

    I take it that you have the contacts in the right area’s of the industry for people to advertise their business, you create the introduction to the medium, your client pay’s for it and then you take a commission from the business that takes your client.

    So what’s exactly free?

    Great concept but it sounds like financial planning on a marketing scale.

    Professional indemnity insurance may be needed here?

    Also what will be your effort against conflict of interest?

    Essentially the free part would be the advice layer out in a proposal. I came up with this idea due to seeing a business owner I know pay for one. Then I have done some research and it seems that marketing consultants charge for their advice and quite often offer the services that they recommend themselves. I’m not saying that it is a bad thing. I just thought their may be a gap in the market. I’ve seen and heard the stories of many marketing decisions that haven’t worked out.

    I genuinely can’t see how my business idea would work if I didn’t give genuine advice with statistics and proven results to back up my recommendation. This would be a part time business to start and for this to work I have to be okay with recommending some avenues that I wouldn’t get commission out of and I’m okay with that. Essentially I would be giving advice on what mediums to take out and the client could always choose to take my advice but not go with the businesses I have recommended.

    As for the introduction it would be a bit more than that depending on the service and my knowledge of the industry. I would have a detailed proposal for the client including details, pricing on the service/s. I plan to have a high understanding of each businesses products or services on offer.

    Good point about insurance. I will definitely be looking into that. As for conflict of interest that’s something I am going to have to work out. Any suggestions would be welcome.

    #1143068
    SandraMac
    Member
    • Total posts: 20
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    Collins Insurance, post: 163650 wrote:
    Hi Sandra,

    I kind of understand what you meant by free and your commission part.

    Yes, to both your questions.

    I am a new business owner and wouldn’t mind free advice as long as its worth the $ I spend the end of the day. Cost is really something I have to control wisely this stage.

    Its still up to me to decide right? So I won’t push you into buying Professional Indemnity insurance although my business is insurance.

    Cheers,

    I have never been a pushing salesperson. I would want you to feel comfortable about your marketing decisions. And if you don’t end up spending any money with my preferred businesses. That isn’t a worry.

    I’m glad you understand the free and commission part but I probably wasn’t too clear. The reason why I would want a minimum spend of $3000 is because I couldn’t justify the business expense of dealing with low spend considering I am not charging for my time.

    Will have to talk to you about insurance closer to the time that need to look at taking some out.

    #1143069
    WhatsThePlanDan
    Participant
    • Total posts: 297
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    Hi Sandra,

    Interesting idea. As a previous responder said it sounds a little like financial adviser models.

    Although the idea of free advice is very tempting I would have to say I’m not a fan. I would be concerned about your ability to be impartial with your advice and not be tempted to send me down a direction where you’ll get more commission.

    Why do I feel that way? Because I got burnt badly by a financial adviser who did exactly that back when I was young(er) and naive.

    That’s just me – I am but one of millions! ;) I’m pretty sure you would find plenty of people interested in your offer – the question is whether they are the kind of people you’d want to work with as they are probably going to be very price-conscious and may not value your advice as much as they would have if they were paying for it.

    Good luck and let us know how you go.

    Cheers
    Daniel

    #1143070
    SandraMac
    Member
    • Total posts: 20
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    WhatsThePlanDan, post: 163659 wrote:
    Hi Sandra,

    Interesting idea. As a previous responder said it sounds a little like financial adviser models.

    Although the idea of free advice is very tempting I would have to say I’m not a fan. I would be concerned about your ability to be impartial with your advice and not be tempted to send me down a direction where you’ll get more commission.

    Why do I feel that way? Because I got burnt badly by a financial adviser who did exactly that back when I was young(er) and naive.

    That’s just me – I am but one of millions! ;) I’m pretty sure you would find plenty of people interested in your offer – the question is whether they are the kind of people you’d want to work with as they are probably going to be very price-conscious and may not value your advice as much as they would have if they were paying for it.

    Good luck and let us know how you go.

    Cheers
    Daniel

    Thanks for sharing your thoughts Daniel. You hit the nail on the head in regards to what I was waiting to see in regards to people’s worries about my business model idea.

    The other idea I was going to go down if responses weren’t too positive was… To just sell marketing products for commission again. Direct marketing style, both via telephone and face to face. For my own preference it would be only with products that I believe in. I like sales but have always only be able to sell products that I can see value in, proven results.

    Previous experience selling marketing products have shown me that having a range of options would be better business for me as each business has different needs. I can’t sell a product that I don’t think is a good fit. I need to be able to sleep at night.

    #1143071
    The Hobbit
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    Isn’t this just the way Advertising Agencies have functioned for decades? 10% commision on all media placed.
    However they all have to be accredited by the media council to receive the commission. Plus none of them can survive on the 10% alone and usually charge a service fee of up to 7.5% plus a monthly retainer.

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