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You think you can start a business? Startup Story & Reality Check

Published on: December 6 2022 by FeedbackWrench

You think you can start a business? Startup Story & Reality Check

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You think you can start a business? Startup Story & Reality Check

hey what's going on guys rob satchem
feedback ranch it is february 2022. i'm
as
pale as it gets like this has been i
don't know we've been working our butts
off uh here at feedback ranch you know
we do websites we do um digital
marketing graphic design we do
videography here we'd love to help you
if you're a small business owner but you
know what
like
i just got to tok about something i've
started basically three businesses okay
and i want to tok to you about the
absolute get it done
thing
that i've learned right so a lot of you
might be thinking about starting your
own business you might want to get an
entrepreneurship you might uh be
watching all sorts of gary vee you might
be watching you know startup or shark
tank and all these different
entrepreneurial things and you're like
oh my gosh
i'm so smart i know how to do this
and i i'm not here to wreck your world i
want more people to start businesses but
i want a little reality check so that
you can wrap your mind around something
that you have got to understand if you
don't get this you don't fathom this
you're going to fail and
so again i've started three businesses
from scratch so the first one was kind
of interesting i don't know that i'd
even call it like i didn't think it was
a business right but um long story short
i was a pastor for two and a half years
at eaglebrook church i got fired when i
got a new supervisor i was kind of proud
and arrogant and had to go through some
some
special treatment to be less proud and
arrogant i don't know if it worked or
not but uh it was definitely like they
got a new manager we butted heads guess
who got fired this guy and uh so after i
get fired i'm just devastated like i
thought i was going to be a pastor like
that's what i want to do i want to help
people move closer in their relationship
with god help more people find faith in
christ and
and i love my church i'm still a part of
this church like it's all it's all funny
but i get recruited into
thriving financial okay it's a you're a
financial rep where faith and finance
meet
and uh come to find out like you're
really a business owner and what you
have to do is you have to prospect you
have to run meetings you got to get
people so they invest with you and they
buy insurance from you and i ended up
not necessarily loving it because i
didn't love the products they sold i
didn't feel really good about the
products it's like this is not really
what i would invest in right i don't
think i would buy this the annuities and
the whole life insurance were really how
you got paid otherwise it was hard like
i just busted my butt for about a year i
could have done way more right
a lot of respect for the folks that make
that work but
it just i didn't feel great about the
product so
anyways that was the first business i
started right and i had this rude
awakening not rude i guess i got it
but it was i learned something from my
coach elena beckius who elena becky is
just you know if you're looking for a
coach she's now a woman entrepreneur she
is absolutely fantastik highly recommend
connecting with her i don't know what
kind of services she has anymore but i
think she's a coach and she helps uh
entrepreneurs partikularly women
entrepreneurs i think
and she's just fantastik anyway she gave
me so many tools that i'm going to unbox
here about what you need to understand
if you're thinking of starting a
business because i don't want you to
fail and i don't want you to be screwed
up number two business okay
as i'm doing that thriving financial
thing all of a sudden i start realizing
there's a ton of opportunity um awaiting
us and i start this nuanced financial
tax and accounting is what i called it
and basically what was happening was
while i was in the financial services
industry i was looking around at all of
the successful folks so i went to all
the big firms that have been there for a
long their sub the representatives right
and there was one out of the east side
of the cities and one out of the west
metro basically what they would do is
they would teach on and tok on and
really hit on
estate planning and taxes and basically
what they would do is they would
position themselves as estate planning
coaches and tax coaches that would help
you mitigate your taxes and deploy tax
mitigation strategies and because really
that's what estate planning is too right
it's to make sure that your stuff goes
to the right place
not the state you keep more of your
wealth generationally rather than
letting uncle sam uh have it because
that's a terrible
misuse of money and uh
so i was like oh that's interesting so
i'm like i want to position myself as a
tax authority so i i go
i go back to school i get a degree in
business management i read every book i
could possibly get my paws on i get all
sorts of coaching and perspective and
and end up like diving into what mark
kohler
k-o-h-l-e-r and all these folks tok
about and it was basically how to do tax
planning right hot and that the real
interesting tax planning occurs with
self-employed people in small businesses
so
what i do is i'm like still a financial
planner or
financial advisor or investment advisor
whatever you want to call it right i
have my series 7 series 66 life enough
and i went out to find self-employed
people and i pitched them basically i
went out and i made this road map of how
i could show them how to utilize s-corps
how to utilize retirement plans how to
utilize the most
tax deduction systems and strategies in
order to uh keep more of their own money
and then i was like and then i'll help
you deploy those self you know
retirement plans in your your own small
business and they're all saying the
exact same thing rob that's great i i
want to do the retirement plan thing
someday but you know what
my cpa all they they don't do this they
don't help us maximize this s-corp it's
kind of what i've now come to realize
what it is
they're like do you know somebody so
anyways i call my best friend i'm like
dude i'm telling you i think there's a
business opportunity here and we the
three of us we end up concocting this
business
and we set out and then i went out and
did something okay and we went from zero
to 150 small businesses
in a matter of about two years and and
when i left and
there was about a million dollars in
revenue coming in most of it recurring
revenue we had customers paying between
250 and 2500 a month and we were being
their outsourced accountants we came up
with a really cool business and i teach
a lot of accountants how to do that now
then my partners pulled some shenanigans
uh ended up finding out that the
paperwork that the three of us had
signed for us to own it all one-third
while i was working and getting all
these clients for them because they sat
and did all the tax and accounting they
they were the accountants i was business
development um
they threw that paperwork away
and filed their own paperwork where the
two of them own it and uh i didn't find
out until a year and a half later
and it was heart
felt pain and instead of getting all
bent out of shape basically what i said
is you know what i'm gonna
buy first of all goodbye
goodbye you're canceled and uh
i just moved on and decided i wanted to
help all these business owners with
their business development is really
what it was okay so then i start
feedback wrench that's going on six
years now and long story short one
thing
is the critikal piece that helped me
actually get my business growing okay
and
i heard it in shark tank and that's why
i wanted to make this video last i was
walking watching shark tank the other
week i think it's the newer season and
basically these
three guys came in and they had like
some scrubby thing that would go on the
end of a uh
of a a
a hose on a sink you know and you could
wash your dishes right there and it's
around the actual water thing and then
they had all these and it was funny the
shark tanks guys were just tiked
because they asked them how many sales
do you have who does sales how much do
you have in sales and they like pushed
it away and they didn't tok about sales
guys sales is king in startup okay
you cannot sit and just blab about your
business plan you have to have a
business plan and you have to have a
good solution but ultimately
entrepreneurship comes down to two
things and whether you're starting your
own web design business whether you're
starting your own marketing team or
you're an insurance agent or if you're
an accountant or if you're a
construction guy it doesn't matter if
you have a sweet solution to a problem
unless you go get people to actually
get
engaged with you and give you money to
solve that problem okay and i'm telling
you one of the things that i keep
bumping up against is that people think
that marketing and sales are how you're
going to do that well that's true but
there's a get it done attitude that you
have to take and it all is predicated on
your front end activity so certainly
sales and marketing
are what i'm toking about here but what
you need to know is that
almost every business you see that gets
started up and has success what you have
to do is you have to do
prospecting okay
and prospecting
for good successful especially in b2b
is going to require you to intersect
into the lives of high protein
individuals and high protein
organizations and see if they have that
problem you can't just sit back and do
just a bunch of marketing and think that
you're going to to make it that's not
how it works you have to make phone
calls text you have to go meet people
you need to ask for appointments at
minimum you need to be asking 20 to 30
people a day to have some sort of an
appointment with you and that could be
linkedin messaging that could be just
cold emailing it could be cold calling
could be texting i don't care what it is
if you want your business to succeed you
really want it i was just toking with a
gal who started her own accounting firm
right and she was kind of at her wits
end she had paid all this money between
us setting up websites and stuff and
then she was hooked up with this
organization called corvy she was paying
a thousand bucks a month for tax
planning but she didn't have any
customers yet and she basically asked me
and said how do i get going i'm like the
number one thing you can do right now is
you go into google and you know you want
to get connected with contractors you
know you want to get connected with
surety companies
call them
call them because here's the deal the
best customers you have have two hands
on the wheel of their business okay they
are driving their business they're busy
they're not sitting there going around
and just like oh let's uh let's go find
myself some solutions right now serious
businesses who are going to be your good
contracts and serious individuals who
are productive whose time is worth
something usually don't waste their time
at network meetings they're usually not
sitting there just
idling and you can't intersect with them
that way
sure they might be looking for a
solution and we can use google ads to
pop up in front of them certainly you
can intersect with them while they're
looking at facebook but i'm telling you
if you call and if you text in a really
winsome way that
doesn't bother them but absolutely
positions yourself as hey i'm in the job
of solving this problem and if you have
that problem man we'd love to help you
keep us in mind in fact i just want to
shoot you an email if it's all right so
that you would consider us right so when
i tok about front end activity here's
what it probably looks like certainly go
to your your in-person situations and
you have to have a curiosity about
people okay so when you're out and about
throughout your day and you intersect
with people
ask them about what they do for a living
ask how long they've been doing it ask
them about their family be others
focused so that you extract out of other
people who they are and what they do and
then what you find is that eventually
that question will be asked of you right
and i can't tell you almost all of my
best customers my highest paying
customers for the most part
have come from me intersecting in person
and eventually there's this point where
i just say hey you know i'd be remiss if
i didn't let you know um if you ever
need
a web design company and a marketing
company and keep us in mind here's my
card if you had yours i'd love to have
it i won't push on you but keep us in
mind right or when i was an accountant
how many people i'd bump into you'd find
out they're self-employed
when i ran nuance and and all of a
sudden you'd be positioning like hey i
you know i just got to let you know if
you're ever looking for like a tax
planning accountant man let us know
here's my business card i'd love to
connect sometime that's number one you
have to be around people and i know in
covet and i know in the virtual world
it's a little bit different there's a
version of this where you do it through
video right my business is predicated on
me taking my ability to connect and
putting it on the internet right so
that's the thing you have to make sure
that you do number two i would actually
call people i would call them be like
and here's the key to cold calling right
in my opinion cold texting is the same
way cold emailing is the same way
don't call them and unload some giant
presentation about why they should
choose you
all you want to do is is go for a really
small commitment okay so you you end up
calling
hey john uh hey is is this uh
is this convenient contracting yeah hey
you know what i i'm a new accountant in
town here or i'm a new digital marketer
down the road um i've actually been
doing this for about six years but i'm
local i'm right down the road from you
and uh i don't know i was just i saw
that your information was online you're
down there and i was wondering could i
send you an email just to introduce
myself i won't slimy or anything but i
just want to make sure that if you ever
need a great website or good marketing
company that you keep us in mind we'd
love to have your business
if you position it that way hey i just
want i was wondering if i could just
send you my information so that if you
have this problem you'd keep us in mind
that's a small ask right and then what
you do is you send them an email through
um hubspot or you ask for their email
you get it you val ver verify it and
then you nurture it over time just every
once while you pop in and just be like
hey just wanted to say hi i know you
guys are busy but uh man here's a little
example of a website that we just built
or here's a little example of a customer
who just helped so that's the second
thing that you want to do you have to
and here's the deal
good successful businesses have two
hands on the wheel of their business
they don't have time to waste
you have to go intersect with them and
guess what
real entrepreneurs like me real
entrepreneurs like my customers they get
it
they don't mind that you do it they
won't be rude to you right especially if
you position like hey we're you know i'm
growing i'm new and i just want to i'd
love to show you what we do uh we do a
great job
that's if you're new at best you just
intersect with them and just assume the
fact that they probably have this
problem and somebody's calling on them
right and i learned this my dad was a
sales manager at caterpillar at a
caterpillar dealership the ziggler
dealership for a number of years then he
was a sales manager so he went from
selling some of the most expensive
complicated things you could possibly
sell a business to helping uh
other sales people and just unleashing
them and pointing them in the right
direction and whatnot but when you
really think about what happens you have
to cultivate a relationship with people
over time right and certainly just you
know there are ways you can do this
through video you can do this through
youtube you can do this through content
too
my my whole point is the get it done
attitude that gets your business going
is sales the thing that actually gets
your sales going
is prospecting and asking people for
meetings connect meetings right and the
connect meeting is really where you hear
about them and their business and find
out who they are and find out the
problems they have find out the goals
that they're shooting for
understand their operations understand
their customer what's their value
proposition and you just get to know
them and then what you do is you present
what you do you present how you solve
those problems right how you work to
make their life better right and so
number one you need to just be in a
position to connect with people and ask
for people number two you need to call
cold email call cold text
whatever that looks like and then
the last thing that i'm mentioning here
is that you can do that through video
right you can make niche video that
introduces yourself to any business
niche and helps them solve a problem
right when they start googling and
asking about that problem boy you can
help them out anyways if you if you like
the idea of growing your business if
you're looking for a new
you know web website that's absolutely
fantastik that you own
and if you're looking for a good google
ads remarketing campaign that actually
moves customers into sales that's what
we do here go to feedbackrench.com
otherwise good luck god bless start a
business get that hustle but make calls
you got to make calls you got to make
texts you got to do that and don't spaz
all over them with a giant presentation
just say hey i'm down the road from you
or i specialize in this
take a look at our website i'd love to
help you if you ever need help right and
just simple that way you're not some
giant paragraph in linkedin that doesn't
work good luck god bless

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