Herbert ProkschaFounder of American food companies.
Bio

Strategic Advisor to Founders and CEOs. Took a specialty food manufacturer from capital raise to exit sale. Turnaround CEO. Food safety expert. Built five USDA inspected food manufacturing facilities.


Recent Answers


Accept the fact that in Germany the aerospace vertical is a closed "old boys" club.

So you need to consider 3 approaches:
1) Since you have some contacts already, you need to nurture them and expand your network by asking for introductions. Do not pitch them, just let them know what you are doing and ask for help.
2) Find a way to scan/review all the listings in Germany for companies that have just been incorporated and select the companies that fall into your area of interest, Approach these companies with a personal letter to the founder. This can be expanded to all Europe/UK.
3) Get LinkedIn Sales Navigator and screen for companies and people of interest. Again, please do not pitch right away, instead focus on building relationships.


Best if you start a new data room from scratch. You can transfer any data you want to keep from old data room.


Ultimately you can't. MLMs are a scam because the numbers do not work. The only people making money with a MLM are the Founders and the people supplying services to desperate downline owners that wonder why they cannot make a profit.

For more detail as to why I feel this way: https://z-niche.com/2020/01/19/is-there-a-good-multi-level-marketing-company-why-not/


The question is whether you are the owner of the product and you want to use affiliate marketing to get sales or if you are interested in becoming an affiliate and make money by promoting products.

Let me know which one you are interested in and I will be happy to go into more detail.

Herb



One side hustle is to go hyper-local and offer a service such as setting-up electronics or computers for people that are not comfortable with tech (such as retired people). You can use free advertising on platforms such as Facebook local pages/groups or nextdoor to advertise your services.


As a Founder and former turn-around executive validating a business idea is a key requirement before spending capital on implementation.
This is also a task that has to be handled by the originator of the idea so it cannot and should not be contracted out.
My technic when doing an idea validation is to start out with my first degree network (Friends, Peers and Relatives) and then my social network.
My approach is to create an opportunity for a one on one conversation that is not under time pressure and allows for open ended answers.
The key is that after I outline the idea I mostly listen and take notes.
Also whie preferrable, the conversation partner does not need to be in the same industry that the idea is covering. The best insights often come from the least expected source.
Best Wishes,
Herb


You can start with the US market and get the statistics from either paid services such as https://www.atozdatabases.com/home or you can go to https://library.doc.gov/company/research#:~:text=The%20EDGAR%20database%20provides%20free,company%20makes%20with%20the%20SEC. where you can select the appropriate data base. I ususally go here first: https://www.census.gov/
For pricing I suggest you cost your product from the bottom up with current data and labor to get to a COG number and from there build it up based on your goals for profit, marketing and overhead to reach your FOB distributor price.
Best of luck!


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