Is there a market on DP for this?

I see a lot of people asking for business advice here, in this forum in particular. Many of them appear to have no idea exactly what is expected of them as regards business planning, especially financial forecasts, research, and preparing a business plan.

They seem to expect a lot of the information they need to be readily available on DP, without even considering that many members are in different counties, cities, states, countries or even continents.

Many of them haven't, apparantly, considered tax implications, insurance obligations or, in some cases, the legalities of their proposed business ideas. They seem to think that they can go to potential investors with little more than an idea and convince them to hand over hundreds, thousands or even millions of dollars.

Some people seem to think because they have a killer domain name, or an idea to create a clone of a successful site with a few extra features, that potential investors will fall over themselves to "jump on board".

Obviously, they need educating that their approach is all wrong, that to create a successful business, be it online or offline, takes planning and research. In many cases that planning and research can take many months. You need to properly evaluate the market conditions, the target audience, the potential profits or losses, the costs involved in setting up and running your business, etc, etc.

I don't claim to be the db's when it comes to business, far from it, I am a fledgling businessman as much as the next man. I do, however, have the training and the knowledge to be able to advise people on their business plan, what information they need to find out, in most cases where to get that information and how to present that information to potential investors. I can even help with rewriting/editing business plans, forecasts, etc.

So, this is what I am asking:

If I were to offer a "New Business Advisory", do you think that there would be a market here on DP for it, and what sort of price should I put on such a service if there is?

I will NOT:

• Give you ideas for a new business
• Write business plans
• Prepare financial forecasts
• Conduct your research
• Tell you how to market your idea
• Present ideas or talk to potential investors, etc.

I will DO:

• Check your business plans for thoroughness, spelling, grammar, presentation, etc
• Check your financial forecasts for accuracy
• Rewrite or edit business plans and financial forecasts where necessary
• Point out areas that are lacking in completeness or missing completely
• Help you find the right places in your area to go to for help and advice on correcting any omissions or errors
• Put you in touch, if possible, with people who can help you with your planning and research
• Comment on your business proposal with an unbiased opinion on whether it is viable or not
• Encourage you to make the necessary changes that will help you be a success

I can not guarantee that my advice will mean you will get the funding you ask for, or that your business will be a success. I can, however, guarantee that the advice I shall give will be as complete and accurate as it can be, that I will not discuss your idea with anybody without your prior permission, and that you will have a better chance of succeeding because of my advice, as long as you follow it.

If I believe your idea to be a 'non-starter' I will say so, as soon as it becomes clear that that is the case. I will still help you if you choose to ignore my belief and try and point you in the right directions to make your idea as viable as it possibly can be.

I will sign a non-disclosure agreement and an agreement to not attempt to steal, copy or otherwise profit from your idea, if you require it.

I am simply offering an advice service, based on my experience, training and knowledge. It is impossible for me to offer any guarantees that your business will succeed with or without my help. I firmly believe, however, that the way to be successful in a new venture is to be properly prepared, which means proper planning and research. As with any new venture, experience, passion, desire and determination all play a part, but planning is the key to success.

So? What do you think? Is there a market for this, and what price should I put on it? I am thinking that, as every business idea and businessman/woman is different, an hourly rate would be the way to go.

Comments, suggestions, criticisms, all welcome. (please be gentle )

Laz

 

There's always been a market for business coaching / advice / etc.

In fact, just this past week, I sat down with a company for a few hours and gave them advice (and an action plan) on how to grow their business, which included a personnel evaluation, business ideas, where to go from here, and projections.

The work was more than a few hours. That was just the "sit down."

It's a bit more "advanced" (it looks like) than what you're offering here, but you're on the right track.

As to price, it depends on what you're doing. I've charged by the hour and I've taken stakes in companies in return. Both have paid off well.

The biggest hurdle you need to overcome is the why you? What have you done? Who have you helped? And so forth.

If DP is your target, I'd scale down your service and offer a tidy and inexpensive project. Most of the people asking what you're talking about can't afford to spend $5-$20k+ initially for some help.

I don't want to offend anyone, but many look to be trying to "make it" with less than $1,000 to their name. And that's awesome, but the lack of capital limits their investments. Obviously there are plenty here that have much more, but they usually aren't the ones who lack basic business knowledge. It's a ladder. We all start out on the first rung.

Your best bet will be to come up with a package and a starting price. Advertise it and see what happens. If you get slammed with business, raise your rates. If not, think about altering the package/price or advertising elsewhere.

Honestly, a lot of the stuff asked here would be answered if the person in question would just pick up a business book or two or go to college.

Good luck!

 

Actually MJ, I wasn't thinking of charging OTT rates for what is essentially advice and guidance that the average person could get on DP anyway, or from any Chamber of Commerce, etc. I just feel that some people have little or no idea of what is involved when it comes to starting a business. I would be, essentially, helping them to help themselves.The rates are unimportant in the grand scheme of things. I certainly wasn't thinking of charging, as you suggested, $5-$20k, or even wanting a stake in the business, I realise that most DP'ers are looking to start a business with limited capital, and I was hoping to offer a service that would maybe charge $10-$20 per hour, negotiable depending on budget and how much work I would have to put in myself.

I am currently working with one DP member FoC and have helped him to realise just how much work he still has to do, helped him write a draft business plan, pointed him in the right direction as to where to find the information that he is missing, etc. He is doing the work, now, that he should have put in anyway and it wasn't because he was unwilling to do the work, he genuinely didn't know about the need for much of it. Whether his business succeeds or fails is in his hands, not mine, but he will be, and is, better prepared because of my help and advice.

I don't mind helping people for free, however, if everybody that NEEDS a service like mine also needs a lot of my time, then that reduces the amount of time I have for my own projects, hence "how much should I charge?". It's not about making a quick buck from the DP members, not for me anyway, I get satisfaction from knowing that people have learnt something new from me that they can use both now and in the future.

You yourself know, the majority of new businesses fail because the owner failed to plan properly in the beginning and not because the idea was bad, or they didn't have the money to invest. What I see on DP is a need for an inexpensive advice service that helps people to properly prepare for a future in business.

There is definitely a NEED, whether there is a market is another matter, hence my post.

 

Can I just say, I feel you have the wrong attitude towards this. You seem to have a very negative and critical attitude towards people who go into business without following the step you believe are needed.

And this comment:

Well to be honest, I think it's a ridiculous thing to say. Your saying that your methods in business are correct and anybody else in business that has a different approach is wrong. As a 'trained' businessman, surely you understand there is more than one way to make it in business.

I don't disagree that planning etc. is needed, however I'm not sure if I would want anybody involved in my business with such a closed mind.

Just my $0.02

 

noted, and agreed..

I also wondered about the wording before I posted, "all wrong" is negative for sure, and perhaps a little bit too "all-encompassing"

I think what I am trying to say is that the key to success is planning, like the quote "fail to prepare, prepare to fail"

 

not sure if their is a market for this on this particular forum but i'd sure be up for some coaching with the right price. If i feel that way their must be many others also

 

Here's a good business idea:

Write business plans. Many people can't write well, let alone write a business plan themselves. Many others don't have the time.

Priced right, it could be a very profitable service.

 

This is basically a bookkeeper job

 

planning? Whats that?

 

Honestly I somewhat think this would be hard to market to DP'ers. The great thing about this forum is that they know they can ask the most dunce questions and recieve good advice for the most part. There are lots of different routes that people have taken to become successful. I think coming on these forums to ask questions and learn from others mistakes is one a huge step to being successful online.

On the other hand, I agree with others that there is a need for coaching out there. Lots of small businesses across the US want to make the jump from their brick and mortar bussinesses to establishing themselves online. The problem is that they have no clue how to even setup a website. Coaching I think is an in-depth and tedious process. Ideally you want to find people who are already in the process of helping themselves. But those that would buy the service probably wouldn't even know how to find these DP forums to find your service.

Your best bet would be to get out there and talk to the businesses.

 

The reason people ask these questions here is convenience. There are plenty of free places in the UK for business advice through the government, but it is so much easier to do it here, and more fun.
Think you may struggle with a decent margin when competing against these free government companies

 

I think what you are offering is a useful stuff that people needs. So there is always market for useful stuff.

 

There's nothing wrong with your business idea. But I don't really see it moving mountains here on DP.

This isn't a forum where participants are doing business plans, looking for investors, forecasting, etc. The signatures reveal that most of the people here already have websites, blogs, online businesses, etc. They're looking for ways to profit from what they already have.

I think that if you participate here, offer well thought out responses, and you include a link in your signature that gives a blurb about your proposed service, you'll get clients that way. I don't even have a signature and I've already given a quickie consultation to a DP member. And I'm barely past the Peon stage.

Also, I would lose the whole business plan/forecasting/MBA sounding angle. People ARE looking here for help with marketing their ideas. So even though you have it on your list of services you won't do, I think you'll find it's a primary drive for most people even being here.

Find out what the people want - (not what you think they need) - and give that to them.

 

The reason I am here on DP wasn't to offer this service, I saw what appeared to be an opening, a gap in the services being offered if you like?

As it is, it seems that there isn't a market, per se, even if the need is there for *some* people. I will continue to do what I am doing, i.e. helping people for free, (isn't that the ethos behind forums anyway?).

I think for a business plan to be truly effective it has to have the desire and the research that only the person starting the venture can have/do. I agree that some people can't write well, that's where the re-writing comes in, but it has to be their own work, and words, where possible. Also, if a person hasn't the time to dedicate to writing a business plan, how could they have the time to run the business?

Laz

 

just like writegurl said. there is nothing wrong with your business idea. but when you ask is there any market here in DP, I would say no. People here mostly are webmasters who do online business. they dont really need service you are offer. (only a vey few might need) . anyway never try never know, just start a thread in BST section and see if anyone would interested or not.

 

The Senior Corps Of Retired Executives (SCORE) is a free service usually available through your local Chamber of Commerce. SCORE is made up of people who actually were executives in the biz world. They will help you with your biz plan, marketing plan, etc.

Just a thought...