
My dad owns a service business selling paper related goods.While covid has upended our world, he has hired a sales person for $30K to learn marketing on the side and sell another product, a covid solution. On top of that he has hired a 60 year old business coach for $2.5K a month who adds no value to our sales, but has lots of relevant experience in business and my dad sees a lot of value in him. There’s also an office admin paid $2K a month handling billing and general accounting work, but apparently she slacks a lot.The business coach has shown us a lot like how to create a sales funnel, team culture, and introducing us to the concept of KPIs, but both the sales woman and the business coach are fairly old fashioned in the way they do business. This wouldn’t concern me if covid hadn’t started pushing the world towards digital transformation. This only gives me more to worry about as we have very old fashioned people working a very old fashioned business.Now the issue is this: we are bleeding $13K a month. That’s a shit ton of money in my eyes, and while I don’t necessarily think firing anyone is a good idea, I do acknowledge that offsetting that 13K expense every month through this covid solution might be slightly unrealistic. On top of that I’m concerned that we don’t have the marketing experience we need, and teaching our sales woman how to market may be a 3-6 month game, all while we are losing lots of cash.We are selling in a niche that we have never experienced and in my eyes, won’t be sustainable long term (his mentality is that we’re going to “cash out” and then pivot to something else.I don’t want to be a defeatist but I am genuinely worried and, me only being a college student with no understanding of how to run a business, I don’t know what the smart direction would be to take.Any advice? see hubwealthy.com/wealthy






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