B2B · B2b marketing

I am trying to start a small business in B2B for factories. I need some guidance and perspective

Stm T Biz dev

Last updated on November 11th, 2019

I have many contacts in the factory business( I have been collecting and connecting with those people for about 6months/ i worked for a company and i brought those contacts to the company). I am 25 female with background in Engineering and an MBA. What i want to be is to be the middleman between factories so its (B2B) right now I am focusing on two countries and i want to provide full support to both of them in marketing and selling I do have the location and language advantage in most caese. I have started like 2 weeks ago, still testing the water so far i had 6 factory owners contacting to ask for price quote but with no order request so far. ( one of the factories wanted me to give them info for free). I have been trying to start something like this for the past year. My last job was just to increase my experience in the field and get the confidence I need. In just 3 months I brought income to the factory i worked for in the six figures of US dollars. Am I making a foul of myself for jumping or i should just keep my head down and continue and see how it goes? Also I would appreciate it if someone can give some guidance I really need it!

Bobby Baker Learning Machine

Last updated on November 11th, 2019

Hey! If your passionate about the problem your looking to solve, why would you discontinue? Focus on improving your value and offer. Start with a simple tool like the Lean Canvas business Model so you can put your ideas on paper. This will allow you to test each segment of your business concept & validate your assumptions before spending a ton of money and time on opinions. Find existing alternatives to your markets problem, ones that work and ones that don’t. Study the top competitors and funnel hack their process. You can learn what Is working from them and personalize it to be unique. Don’t reinvent the wheel - just improve on the wheel.

Hemanth Kumar Co-founder and ceo Of ricezone.in.

November 11th, 2019

What type of product you are marketing ?if u explain atleast some information i will help you for marketing and sales to launch in india.

Mr. Kelly Johnson Looking for Co-founder

November 12th, 2019

I am on the sourcing agent side and have been for 13+ years. I am US based and find “tier 1” suppliers in China for customers in the US and Canada. This is B2B and generally called “Sourcing agent”. If I understand what you are trying to do, you are trying to find “tier 2”suppliers for those “Tier 1” suppliers? Perhaps raw materials or just any component that they don’t produce in house? That they then turn into finished goods to sell to their customers? This is also B2B, so I just want to make sure I understand what you are trying to do.


If I have that right, this is a very First Principle Thinking way of thinking. If you have ever heard Elon Musk talk about how he got the cost of a rocket so low, that’s how. I can say there is a lot of opportunity there. I myself find Tier 2 suppliers for my tier 1 suppliers all the time. Tier 1 suppliers are flat out bad at finding Tier 2 suppliers. The problem is that they don’t know it, or even strongly believe otherwise.


Luckely because I am also bringing the customer’s business to the Tier 1 supplier, the Tier 1 has no choice but to accept my tier 2 supplier whether I tell them who the tier 2 supplier is or not. And I can technically keep all of the savings for myself if I want. You working strictly between Tier 1 and Tier 2 will find you have to add a markup of some sort, but that competes with your actual value to the Tier 1 supplier. That makes it difficult for you to profit much while still bringing value. But doable.


Personally, my advice is to keep investigating and trying. But do not quite your job until you have proven your assumptions. Especially since you are young and haven’t been doing it long. I see too many people in this industry get in with little experience only to find out their experience was only applicable in their previous employer’s application, or whatever reason, things didn’t work like they thought it did. I hate seeing those people crash and burn.

Roy EA Helping Clients Build Products, Processes, & Profits| Adjunct Chief Financial, Research, or Operations Officers|

November 10th, 2019

We would need a little more information. Just saying you want to provide a B2B service between factories does not provide enough conceptual formulation to discern if there is an economic benefit you can provide- and for which you can charge.

I'd be willing to talk with you further, if you desire.

In any event, good luck!

Raycha Jahanvi Developer,innovator

November 10th, 2019

Hey, first of all, you are not making fool of yourself, I think it's a good initiative to start own business. Some more details would be helpful which type of companies are you contacting!! Do you work alone or you have a team working with you!! And I would suggest that you should contact startups. They have a low budget and less experience. They can really use your help. Have a good day.

Stm T Biz dev

November 10th, 2019

- I live in an Industrial state that produces almost anything so I have that as an advantage plus the language.

- I am trying to supply factories with equipments and materials from other countries. I am trying to support developing countries factories (they are just starting and need raw materials and support)

- the 2 countries that I am trying to connect right now dont speak the same language so I can help the main supplier promote to the developing countries factories in social media and sales knowledge courses.

- I am alone in this so far, and I am still trying to figure out the whole process since I have been connecting with both sides and testing whats working and whats not, actually there is a lot to test since there are many potentials to this wether its for the supplier or the buyer But little time and just one person.


- about the marketplace idea, its kinda going to become like Alibaba but the pros about it is that i might be able to charge a premium maybe. Also it would be a great way to manage the customers once they become many hopefully.


- my problem is making money, I hav not made a single dollar yet and my prices are high since my suppliers are testing the water as well With what I am trying to do.


-the advantage: location, language, a good number of legit Factories that need suppliers, help reaching them quickly.

-the disadvantage: are the factories in need willing to pay me? Or they just want to reach the supplier directly. Also I am trying to start with as minimum money as possible until I see the credibility of it.


Lou Mlambo Dynamic, diligent, second in command, experienced in building, structuring and exiting companies

November 11th, 2019

Hi STM T Congrats and commiserations on starting your business. The decision whether or not to stay at your current job or pursue the business fulltime is a very personal one. Some years ago, I had to make the same decision. My business was also in the B2B space, and I had a great tract record at my company generating $xmm in multiyear contracts. I was confident in pursuing my own business so I did. Unfortunately for me it was a failure--But I don't regret it at all. I don't want my experience in anyway to dishearten you. Instead these are the things that I wish I had thought of before doing my own business 1. *Understand why you are successful at your current company* As I said, on the sales side I was doing very well at my company, and thought I would be even better doing it for myself. But I didn't consider the access to resources that I had at my company. For instance, having an IT team, accounting team, and engineering team, and even receptionists and interns, all of whom contributed to my success at that company. There are also other things that were important, such as the reputation of my company, that made clients confident to work with me, the track record and as one person very bluntly put it to me "I know I can sue you if you f** up, so I'll sign with X company." When you are doing well its easy to think its all you, but it rarely is. Instead as you move into your business think about how you can replicate these things as quickly and efficiently as possible. 2. *Business owners are always interested, just not in you* Business/factory owners know they have to change at some point in order to survive. It doesn't mean that they will make that change with you. And as a middleman the first insitinct is to try and replace you as soon as possible. Some very useful advice that I received from a mentor and I apply in my business model now is, "Every transaction has three parts (customer, product, supplier); to be successful you have to control at least 2 of the three." What this means in your business I don't know, and it may take years before you figure it out, but figure it out quickly! 3. *It will probably get worse before it gets better* People, your partner and your family will always doubt you, especially if you leave something stable and predictable. Running a business especially, most of it can't be taught and has to be experienced (I also have an MBA) and people will always think you're crazy until it works (then you are a genius). Each business faces entirely unique problems that you as an entrepreneur have to solve and you have to LOVE solving those problems. (My business was closed for a week because pipes burst and ruined all of our computers--that was never one of the risks in the business plan). Because you are the owner everything is your fault, and your problem, so you have to solve it--and I think thats the hardest part of being an entreprenuer. A client not liking your presentation, is your fault, a supplier being late, its your fault, the product or service isn't good enought its your fault. You have to be comfortable not just taking responsibility but solving those issues. Whatever you decide, make sure its the right decision for you, because you have to live with the consequences. I wish you the best of Luck

Sateesh Pawar Co founder @ TSPL, Business development consultant

November 11th, 2019

Hi,


Its good to hear from your side, as we are also working on similar model in India.


For initial start, you need to capture your niche segment of industry & develop the contact both from supplier side as well as customer side.


Once your capture your segment, then working on the model will be more easier & the customer would be able to relate with you.


Try solving customer problem's & also imp is to bring in to their notice what benefits they would be getting from your side.


For more guidance you can let me know.


Thanks.

Mudassar Sayeed Cofounder

November 10th, 2019

Why not create a marketplace for connecting the factories with businesses. the platform also provides the Inbetween. Samples are delivered. scheduling vendor management. And really just focus bring those factories to the USA.

Martin Thöle Expierenced Part-time CFO / Controller for Germany especially Rhine-Main Area, Frankfurt, Darmstadt

November 10th, 2019

Dear STM T, So I understand you have been just selling for 2 weeks and you got 6 RFQs. How much would you earn from a customer if you actually win a business? Have you asked the six factory owners why they have not placed an order with you (yet)?