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Refining the Business Model #44

Open pratik-IDWT opened 1 year ago

pratik-IDWT commented 1 year ago

Overview of Leads Generated

So far I have two leads from my network - which is a great win! However their rate's so far haven't led to the winning of work and scaling the team as expected. The rates offered so far have been:

What I was aiming to do

I was previously aiming to work with my network of experienced data professionals only, so I keep the brand at a high quality and only place people that can work independently and provide strategic value.

However the individuals have a rate expectation that is higher, and the market currently pays them higher!

What do the clients want?

They want someone ASAP, with deep data abilities, often with an unclear scope so need someone also with a BA ability to understand the business problem and determine a solution.

What Next?

I will brainstorm ideas on how I can adapt the model. I can do a few items which I can break down further:

  1. Keep going as-is and find clients that have higher budgets
  2. Keep going as-is and work with people that I can also mentor/coach - However this creates a people overhead
  3. Think of a product I can sell as a B2B idea........I have one that I can think of, leveraging some AI/LLP experience recently obtained
pratik-IDWT commented 1 year ago

@nelsonic - If you have any words of wisdom or ideas, would appreciate them :)

nelsonic commented 1 year ago

@pratik-IDWT, Stoked with your progress so far! 🎉

I would:

  1. Look at the analytics for your website and any other data or human feedback you have.
  2. Use the data to inform your next actions. if you have a high bounce rate on a particular page of your site, break it down and rebuild to target the specific niche you are pursuing.
  3. Write another Blog post describing the work you have done recently including the industry. Include as many keywords in the "Technical" section as possible to serve as SEO boosters.
  4. Ideally write about your AI experience and how it can be applied to data science/analysis.
  5. Refine your offering to focus on the service you want to be doing. General Data Science -> Specific Analysis Service
  6. Hire a junior person you can train ASAP. There are a lot of talented graduates searching for opportunities. Expect to offer them ~£50k in London or €35k Remote. I can help you with this if you like. Plenty of talented Maths/Physics grads who go through https://www.foundersandcoders.com/ would love to get into AI-driven Data Science with Coding.
  7. Increase your prices in line with the industry expectations and to reflect that you are pitching a Team not just an individual; especially when you offer a more specific service. 💰

Keep me posted. 👌

pratik-IDWT commented 11 months ago

Thanks @nelsonic for the comments/feedback - Time really is flying at the moment! 👶🏽👶🏻

I'm leaning towards doing a PR campaign in 2024 focused on:

Pretty confident with the above I can find a role for them

Will be in touch once ready in 2024 post the life changing event next month!