Stupid Tax #27 - Mitchell's Mailbag: Bad Business Ideas, Marketing for a Handyman Business, and Growing Your Customer Base
Mitchell Baldridge, CPA and Scott Hambrick reach into the Stupid Tax inbox and look at three questions submitted by listeners. One young business owner started a handyman business in the fall of 2023 and started off with a bang, making $14k in his first full month of operation. The following three months were lean, however, with revenue falling off signficantly and net operating losses. Mitchell and Scott offer some advice on ways to figure out what worked in the first month, and target his customer base with higher margin, more attractive service offerings.
Another listener has been sitting on a business idea for quite some time, and put together a pitch deck to lay out his plan: a community to help Christian fathers improve their relationship with their children. Mitchell and Scott point out the problems with a business like this, and more to the point, the problem with taking so long to try out a business idea and figure out if it works or not.
Mitchell and Scott offer a third listener advice on building a solid marketing pipeline to reach customers by reducing the friction between customers receiving communication and buying services.
Want your question answered on a future podcast? Email Mitchell and Scott:
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Mitchell Baldridge
Twitter: @baldridgecpa
https://baldridgefinancial.com
Scott Hambrick
Twitter: @hambrickscott
IG: @ogscotthambrick