I own a successful web hosting business. In web hosting, unless you're a giant host, one must specialize in a niche market in order to succeed. That's what I have. It's a very small market and I am a big fish in that little pond, with a steady stream of new clients signing up every month. For a few reasons, I need almost no marketing/advertising effort for this business--one reason being I was the first host in this market, 6 years ago.
Now I would like to launch a second business or "brand" of my business to cater to another niche. I have identified a few candidates and I am almost settled on the one I want. The issue is that for this new brand, I would definitely need marketing/advertising as it is somewhat established and has competition. I am aware of the basics of marketing/advertising but I am busy running a hosting business and would prefer to hire someone to do these, in particular who can do it better than I.
My question is, do you think it's feasible to find such a resource, someone who knows what they're doing (more or less), who would work on a profit sharing basis? For a true start-up, I would myself laugh at the idea, as we all know what 50% of nothing is. But given that I have an established, proven and profitable business, the risk in this case is much less. In reality, in my opinion, the entire success of this new brand will depend 90% on the marketing/advertising as the technical aspects of the business (service and support) I can demonstrate are already in place, are high quality and very well regarded.
My current business gets from 4 to 12 new accounts each month. I could offer my "partner" around $100 per new account on this new brand. I would give that for any and all accounts and presume that all business comes due to their efforts. Of course we wouldn't start off with 12 accounts a month, but what we could do would be a factor of the effectiveness of the marketing.
I think such an offer, if over the team of let's say one year, is quite reasonable.
Any feedback is welcome--let me know if you agree or if I am out of mind (which has happened before).
Thank you.
Now I would like to launch a second business or "brand" of my business to cater to another niche. I have identified a few candidates and I am almost settled on the one I want. The issue is that for this new brand, I would definitely need marketing/advertising as it is somewhat established and has competition. I am aware of the basics of marketing/advertising but I am busy running a hosting business and would prefer to hire someone to do these, in particular who can do it better than I.
My question is, do you think it's feasible to find such a resource, someone who knows what they're doing (more or less), who would work on a profit sharing basis? For a true start-up, I would myself laugh at the idea, as we all know what 50% of nothing is. But given that I have an established, proven and profitable business, the risk in this case is much less. In reality, in my opinion, the entire success of this new brand will depend 90% on the marketing/advertising as the technical aspects of the business (service and support) I can demonstrate are already in place, are high quality and very well regarded.
My current business gets from 4 to 12 new accounts each month. I could offer my "partner" around $100 per new account on this new brand. I would give that for any and all accounts and presume that all business comes due to their efforts. Of course we wouldn't start off with 12 accounts a month, but what we could do would be a factor of the effectiveness of the marketing.
I think such an offer, if over the team of let's say one year, is quite reasonable.
Any feedback is welcome--let me know if you agree or if I am out of mind (which has happened before).
Thank you.
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