Author Topic: My business' profits cut in half. Looking for new industries to pivot and grow.  (Read 2520 times)

valueinvestor

  • Sr. Member
  • ****
  • Posts: 269
Another area in terms of telemedicine is for regular script renewals.

We picked up an inhaler at the local walgreens for my wife, from a script written by a teledoc service that her company offers as part of their benefits package. She's never really needed one as an adult (had bronchitis as a kid apparently) but it's good to have on hand - especially with COVID19 flying around. Same goes for things like epinephrine.

This seems like an area easy to consolidate. Maybe now is a good time to grow the business as much as possible and sell to a larger market participant (TDOC)?

Haha more than happy to be of service! If any of you require marketing at this time - feel free to pm me.


valueinvestor

  • Sr. Member
  • ****
  • Posts: 269
Another area in terms of telemedicine is for regular script renewals.

We picked up an inhaler at the local walgreens for my wife, from a script written by a teledoc service that her company offers as part of their benefits package. She's never really needed one as an adult (had bronchitis as a kid apparently) but it's good to have on hand - especially with COVID19 flying around. Same goes for things like epinephrine.

This seems like an area easy to consolidate. Maybe now is a good time to grow the business as much as possible and sell to a larger market participant (TDOC)?

Haha more than happy to be of service! If any of you require marketing at this time - feel free to pm me.

I think I found more niches to find!

Commercial Lenders
Investment Bankers
Advisory Firms
Consulting Firms
Mortgage Lenders

I need niches that are high in CLV because our targeted advertising generates leads with a cost of $100. Therefore customer lifetime value has to be at least $2,500.00 for the leads to make sense.

If anyone can help me with more niches, it would help. I really do want to take advantage of this downturn.

Gregmal

  • Hero Member
  • *****
  • Posts: 3642
Mortgage related biz is obviously on fire right now. Anyone who's bought a house going back one year, to infinity, can refinance. Esports I would think is currently going to do well. Also, home delivering services. I recently started up a local group to do it for free, because I'm a good hearted piece of shit, but if I wanted to make some quick money, offering to go out in this dangerous world and acquire good for folks scared or unable to leave home, is probably very profitable.

valueinvestor

  • Sr. Member
  • ****
  • Posts: 269
Mortgage related biz is obviously on fire right now. Anyone who's bought a house going back one year, to infinity, can refinance. Esports I would think is currently going to do well. Also, home delivering services. I recently started up a local group to do it for free, because I'm a good hearted piece of shit, but if I wanted to make some quick money, offering to go out in this dangerous world and acquire good for folks scared or unable to leave home, is probably very profitable.

Thanks for the suggestion! I will take a look at esport! Much appreciated Gregmal!

jeffsreng

  • Jr. Member
  • **
  • Posts: 95
I'm starting a technology business in South East Asia. Focus on your talents and try to monetize it.

valueinvestor

  • Sr. Member
  • ****
  • Posts: 269
I'm starting a technology business in South East Asia. Focus on your talents and try to monetize it.

Agreed! Any chance you would want marketing we have a great track record of increasing sales via marketing.


valueinvestor

  • Sr. Member
  • ****
  • Posts: 269
Thank you all for reading and commenting. You have no idea how much your comments meant, as I was going through a real tough time.

So here's an update. Just finished "restructuring" my business a few days ago, and  started cold-calling again.

Probably too early to celebrate, but much to my surprise I was able to close a client for few thousand dollars with a RoAS of 10% over a fixed hurdle rate.

Should translate to $100k+/year in revenues, also levers to upsell, as it's a hotel with a restaurant, spa, etc.

Going to send over the retainer agreement for the client to sign soon.

So thing's are looking up for me, as I was really worried how long I will be able to keep my team, follow-through on social commitments, and increase overall stakeholder value.

I've also booked several online meetings with mortgage brokers, investment bankers (rather M&A advisors), affordable housing, etc.

So thank you all! Couldn't have done it without you all!