I run a small business making and selling beef jerky. I have no background in business, and can't cook anything above KD level - I haven't even cooked KD. But somehow, it's working. I started on May 20, 2015, and got a lot of great feedback and product validation early on.
Fast forward to 2016, the business is registered and officially up and running for 3 months, nothing great, about $800 in profit per month. The product is prepared in a commercial kitchen, is insured, and I've jumped through all the food handling hoops.
I'm 26. I also have a full time job, a girlfriend, and go to the gym regularly. I am very busy, but I've learned that I'm that type of person. I want to be rich.
I've been trying to get karma on this subreddit to be able to ask the questions I'm about to... which are:
1) Beef jerky, being the product that it is, seems very difficult to sell online - this is just my learning so far as online sales have sat at 1, for 3 months. My understanding is that beef jerky itself is an impulsive snack - you want it at a gas station or at the checkout line. It's not a staple, it's product placement is vastly important (even more so than it's quality).
I'm currently focused on the fitness niche, and I've worked it into four gyms and one bar.
That said, does anyone have any ideas how I might be able to start converting my in-person and distribution sales into online sales? Is online the best way to sell all products?
2) Because online sales have been low I've been back burning the social media management aspect of the business preferring to focus on production and distribution.
I've taken on someone to handle the social media aspect of the business, but only have a vague idea of what I should expect from them, and what I should be paying them - I'm just testing it right now, but I understand the importance of having at least a semi-serious social media presence.
I plan to move some of the profit to the social media end, but again, this is kind of linked to the first question, is online the necessary way to go? What should I expect from it? Most of the people on it are friends and family right now. Maybe 20% are legitimately new customers acquired through word of mouth or a distributor.
3) Do I need a round of funding? There have been at least 2 or 3 people, mainly mentors, who have offered to invest in my business - I don't take them seriously right now, but they're telling me if I can figure out a way to convert my sales into recurring online transactions that the business will be more attractive to investors.
My start up costs were covered by a friend who I'll have paid back fully at the end of this month.
I'm confident in my product, I'm confident in general, but I don't know how to scale. If someone were to give me $100,000 today, I wouldn't know what to do with it.