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[Quick Poll] For New Entrepreneurs Out There!

Discussion in 'Introductions' started by Jelbaum, Sep 8, 2017.

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  1. Jelbaum

    Jelbaum Member

    From the 3 skills below, which do you feel you struggle with most as a new entrepreneur?

    1 - Performing Solid Market Research
    2 - Building an Email Database
    3 - Writing Professional Emails
  2. Edvin

    Edvin MVP Member Top Contributor

    What are you trying to answer?
    I'm on the ground floor right now; but, I don't feel any of the items like an obstacle.
    1) Performing Solid Market Research
    • I use eReferenceUSA (free through local library) to do competitive research (including gross income projection)
    • I use SpyFu to see how competitors are doing
    • Use Google Trend to get an idea on traffic
    • Look at my competitor facebook and twitter accounts to see major activities
    • I get local traffic for city and put in google to get heat map of high traffic area
    • I look at Franchise Disclosure Document to learn more about a business or competitor
    • Here is a good list
    2) Building Email Database
    • Again, I'm ground floor; so, I haven't gotten this far. My plan would be to contact resell to my existing customers. I haven't thought about paying for this:
      • Can get emails via promotion give away
      • Can get emails via providing eBooks
      • Google "buy email list"
    3) Writing Professional Email
    • If copy writing is weak or you don't have time, there are plenty of sources on line.
    • Are you sending a generic email or one specifically for me?
    • How many emails are you sending?
    To maximize your conversion rate, I suggest having multiple versions of the same email sent to small group. And then based on the open rate select the optimum email to send to rest.
    The issue that small business will run is that their email list is small; so, A/B testing of most effective email may not be a viable option. So, you go with the best you can.
    djbaxter likes this.

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