Reality of Possibly Failing

 Hi Everyone,

I posted this in the financial case study but wanted to copy it to my blog in case you found value from it.

Original Message:

You all probably don't know much about my business model plan. In short, I'm trying to develop a custom system solar panel installation company. The concept of financing is always on my mind. I'm constantly calculating ROI's from different angles with different perspectives. Last night, I had a discussion with my Mother and Father. They serve as the proto-type installation project for me to really establish myself in the solar business. Long story short, I asked them to re-finance their house, take out a $30,000 loan and support my wife and I as I try and make this installation business work.

Now, there are a TON of details, pro's and con's, benefits and risks that go into this business proposal as you all well know by now. What I wanted to share was the overwhelming emotion I felt when my parents agreed to put the things they've worked so hard for on the line for me; fear. I was scared when they said yes. This happened last night and I'm still scared right now as I'm typing this :). Slide 7 and 8 especially and really the while financial presentation goes through the methods and avenues for gaining financial support. In the end, it is incredibly humbling and down right scary to make the step and really go for it; try to make a business yourself.

My parents haven't refinanced their home yet, they only agreed to do it. I have a lot more work to do (finishing the business model for this class is a big one) before I feel a bit more comfortable with giving this a real try. It may be obvious to some, but I was thinking about the porter 5 forces and the personal pain gain map exercises. The best way to really understand your business, to really understand your customer and measure how willing you are to see this thing to the end is to ask yourself, would you allow your parents to willingly risk the things they've worked so hard for and the life they've built to help you get started? If you received money from an investor, $100 or $1 million, could your REALLY pay it back in 5 years? What if you can't? What if there's a huge road block that you didn't expect which prevents you form being successful and you have to explain to your parents that their $30,000 isn't going to be quite as easy to pay back as you thought? I think I understand the concept of high risk; high reward on a more personal level now...

-Brendan

Can a company today survive on inbound marketing? Why or why not? What is the role of outbound marketing?

Hi Everyone.

I'm very much of the belief that most humans (if not all humans) are naturally skeptical (which doesn't mean they're not gullible, but that's a different story) especially when it comes to making an investment. Assuming that most people are naturally skeptical coupled with the fact that most humans resist change, it can be incredibly hard to get a majority of the population to fully commit to new technology as an investment. Even if  the technology is proven to work, people still have a hard time making the step to part with their money.

That being said, out bound marketing is a term that represents going out into society, talking with people face-to-face and explaining the details that make people skeptical. One of the most important aspects of outbound marketing which will be the foundation of my solar panel sales is getting prototypes into the hands of key, influential people. I need to get a solid working system, beyond a prototype phase, into the hands of a person or group that will use the solar panel technology (which I'll give them for free as a part of an out bound marketing technique) and will create natural in bound marketing. The person/group will be so happy with their service and system production that they will go tell people and be willing to talk to people as living proof that my solar panel technology really does work. That's the plan at least...

In conclusion, out bound marketing is a necessity for developing a successful business. In bound marketing is something that should happen naturally based on the success of the out bound marketing technique.

-Brendan