?? No Money, No Problem
Norman Farrar
Brand Vision, Growth & Profit Strategist | eCommerce Entrepreneur | Trusted Advisor | Host of Lunch with Norm & Marketing Misfits Podcasts
What you’ll find in this week’s newsletter:
Wow! I was blown away by the response of Kevin King and I’s AI Ecommerce Success Summit announcement last week.
This event is 100% free. No pitching. With 18 cutting edge AI experts in the industry. Anyway, secure your spot here and I’ll see you there Sign up?
?? No Money, No Problem [My True Story]
How do you start a business with no money?
That’s the question my partner and I were trying to solve in our early 20’s...
The one thing we had going for us was that we both had prior experience in selling promotional products.
But to get started with this new business, we would need to front A LOT of cash to pay our suppliers.
And we had nothing.
No banks were willing to give us money either.
And rightfully so.
Anyway, we landed a meeting with a Fortune 500 company, famous for its chocolate.
We worked with them before with our past company.
But this was our first time going solo with them.
领英推荐
They knew we always overdelivered and our product was always on time, every time.
To our surprise, they wanted to place a very large order with us for a dated event… Great!
But how do you float an order for a company if you don't have the money?
We’re talking tens of thousands of dollars…
Usually these larger companies work with 60 or 90 day terms… maaaaaybe 30 days if you’re lucky.
We decided to leverage the relationship that we’ve built and go for the Hail Mary?
We asked for the cash upfront and in doing so we would provide them with a special discount.
We didn’t think any business would ever pay us in advance.
But our to our surprise it worked!
Sometimes you have to be creative.
Enjoy the rest of the newsletter.
— Norm