• Lead Generation Bootstrapping

    Robert Wolfrum Lead Generation Bootstrapping

    My entire career has been spent helping small hi-tech companies achieve explosive growth at ridiculously low cost. I want to share my knowledge and show you how to build the same strategic market advantage used to beat the competition.

    Clients were easy to find during the 1990s. Rather, it was top talent that was in short supply and typically came with huge recruiting fees. In an era known for talent shortages, not only did I find the needed talent, but also drove recruiting fees down to zero. Today, the game has changed. In the wake of multiple financial collapses, the hi-tech market has become hyper-competitive. Limits on growth are now dictated by the cost of obtaining new clients.

    Intuition might have you think the solutions to low cost people acquisition and low cost client acquisition would be quite different. The reality is that the solutions are closely related and remain critical to rapid company growth.

    Let’s pause for a moment and explore the finances. Growth oriented companies typically spend of 25% of their revenue on sales and marketing. About one in four of these dollars is directed toward new revenue. A one million dollar company growing at 20% annually spends $65,000 to capture $200,000 in new revenue. That means a year one ROI requires a gross profit margin above 30%. That is a tall order for any company. It is a simple mathematical truth to why rapid growth companies are rare and usually backed by venture.

    The stark reality is that the ROI on new business is measured in years, not months. In short, the high cost of new revenue is the number one factor limiting company growth.

    In 1997, I shifted from people acquisition to client acquisition. Since then I have taken 3 companies from startup to segment leader, attributing success directly to my ability to slash costs. The success formula for low cost revenue acquisition has changed dramatically over the past two decades. Today, client acquisition depends a lot less on sales expertise and a lot more on technology and technique. It is a bit like the auto industry where a computer has replaced much of the master mechanic’s diagnostic expertise. The good news is that any individual at any company can leverage my methods much like an average mechanic armed with a diagnostic device. I can’t help you bring the your costs down to zero as I did in the 90s finding talent, but I can show you ways to slash your costs by up to 75%.

    Twenty years ago you could simply add staff to your cold calling department and slug your way to meet your growth goals. Today buyers behave differently. With the adoption of the Web, they are more educated and elusive than ever. Buyer behavior changes have created both challenges and opportunities. Any individual at any company in as little as 15 minutes a day can make real progress on lowering the cost of new revenue. Recently, I presented some of these ideas at the Duneland Innovators meetup. Watch this video and gain some valuable insight on slashing your cost of new business.

     

    @RobertWolfrum presented on #LeadGeneration #Bootstrapping at the last #Meetup - see the #video here#nwIndiana #sales #business

    Posted by Duneland Innovators on Sunday, August 2, 2015
  • Liquor on Sunday will do no harm, stats show

    Indiana might finally do away with an archaic law that’s long outlasted the enthusiasm for its enforcement.

    Are you ready for this, fellow Hoosiers? Pretty soon, Sunday liquor sales might be coming to our state!

    True, you could still buy drinks at a bar or restaurant any day of the week. But Indiana is one of 12 remaining states that still cling to old blues laws forbidding the sale of alcohol in stores on Sunday. So if you want to buy any beer or spirits to take home, you better do your shopping between Monday and Saturday.

    For now, at least, although that might change because the Indiana House passed a bill allowing Sunday sales last week. Currently, the bill is still being debated and amended in the statehouse.

    College students and party animals might rejoice if this bill becomes law, but I doubt life will change much in the Region or the state as a whole. It won’t hurt, though, for when I say little will change, that includes changes for the worst.

    According to the Centers for Disease Control, Indiana is on the lower end of alcohol-related deaths per year. It’s also about average on the annual tally of drunk-driving deaths, according to Mothers Against Drunk Driving. Some of the other 11 states with no liquor on Sunday have similar statistics to Indiana, though some are worse. Also, some states that do allow liquor have low rates in both studies.

    The old saying goes “correlation is not causation,” but there’s not even a consistent correlation. And frankly, it seems unlikely that one more day of sales will drastically alter the statistics in Indiana.

    What will change is grocery stores will move more inventory, and liquor stores will get one more day of sales. And that wouldn’t just mean more in-state buyers. As every Northwest Indiana resident knows, the closer you get to the state line, the more liquor and tobacco shops you see because they’re taxed so much more in Illinois. So, liquor stores would likely see the most benefit from more business.