Startups

5 Suggestions For Your Startup To Get Dollar Productive

Published

11 years ago

Jun 15, 2015

The interview I did with Andrew Morello had so much quality content that I had to do a part two to squeeze it all in for you. This is testament to Andrews’s knowledge in the field of sales and all the training sessions he has run for large organisations around sales. In part two of my interview with Andrew, I discussed with him ways in which startups can become dollar productive. It’s crucial that you’re always thinking outside of the box and not afraid to talk about what you do.

Below are Andrew’s five suggestions on how your startup can get dollar productive right now!

1. Increase leads any way you can (be smart)

One mistake that all startups make is that they concentrate on things that are not important. A prime example of this is worrying about what your website looks like, what your brand looks like or what your flyers look like. In the early days, you need to concentrate on things that are dollar productive. Try starting with the three F’s.

F – Friends

F – Family

F – Fools

When you start out in a business, often you haven’t got the credibility just yet, and you’re relying on people that know you, trust you and are prepared to give you a go. This person that trusts you is only a fool until you turn them into a client, and they are only a client until you turn them into a friend, and they are only a friend until they become part of the family.

Anything you have ever done in the past, like other business ventures or jobs, will help you find prospects. These people are great to start with because they trust you, and they know you.

In order to keep on feeding the prospecting machine, you always need to have leads coming into your funnel. These leads can come from your networks / referral networks, Consider the concept of reverse engineering your sales funnel. If you want to do 10 sales per month that may mean that you need to do 40 face-to-face appointments per month, which means you might need to be speaking with 400 prospects over the phone in a month. If you’re looking at your business networks to increase leads and become more dollar productive for example, with a financial services business you might want to consider contacting any accountants you know, bankers you work with, lawyers or financial planners.

The other source for leads could be within your community networks. Could you join a Rotary or a Lions Club? Could your church, your mosque or your synagogue be another place to look for increasing leads? It wouldn’t be that hard for you to create a referral program with one of these organisations and then pay them a referral fee which could go back to the organisation and help support their cause. All of these strategies will also help your startup to be recession proof.

Another area to try (don’t go too crazy with this) is to look at purchasing leads. The quality may not always be amazing but if you’re not the salesman or the prospector then this could work well for you. A client that Andrew signed up used this strategy in the early days and built their business up to $700k in upfront revenue per year. The secret to this businesses success was that he gave each of the leads phenomenal service, which allowed him to get 3 or more referrals off them, to the point where he no longer has to buy leads or prospect.

Your startup is no different to any other sales business, and you need to look to build out a sales funnel. Everybody that you meet should be a prospect or an opportunity in your small business CRM (Client Relationship Management) software. Even if they are hot, cold, or not interested, make sure you put them in your CRM so that you can at least put them on a monthly newsletter.

Don’t make the mistake of going to a networking event, collecting a 100 business cards and then saying only 3 were interested, and throwing away the other 97 business cards. The other 97 people should go into your CRM and onto your newsletter so that they might become a prospect in the future. It’s up to them to opt out if they really hate your product or service, not for you to make that decision on their behalf.

Don’t make your content salesy make it educational. At the end of each of your educational newsletters or piece of content, you should have an opt-in if the prospect would like to get started with your business.

One final tip for increasing leads is to look for joint venture opportunities. For example, if you’re a supplement store, consider doing a partnership with a gym and offer a month free membership for anyone that spends over $200 on protein powders. These types of strategic partnerships can add revenue to your bottom line.

2. Start with entry-level products (you don’t buy a Rolls Royce for your first car)

Don’t try and sell the premium package straight away. Have an entry-level product so that people can get to know you. Something like a $99 ebook can work well, and then they have the option to upgrade to the $1500 package. If you’re selling a product, then let the prospects try it for a period of time.

3. Don’t have too much of your revenue coming from large giants

Mum and dad businesses are a great target market because they are recession proof. What that means is that whether the economy is good or the economy is bad, there is always a mum and dad that needs your product. The danger of going after large organisations is that as soon as there is a GFC or tightening of the economy, generally the larger companies make the budget cuts first and then when the economy turns around they are the last to get invigorated.

“When Andrew was asked to speak at the G20 Youth Summit, they discussed the massive issue of global youth unemployment. At the end of the discussion they realised that the answer wasn’t in government or large corporates, but rather it was in entrepreneurism”

The danger of selling to a large organisation is that if they makeup 80% of your business and then you lose them, the majority of revenue is gone overnight. At the end of the day, there is nothing wrong with selling to small business and mums and dads. It’s also a great way to deleverage your business.

4. You must measure

A great way to measure if you’re dollar productive is to work to what Andrew and his mentor (John McGrath of McGrath Real Estate) call “the ideal week.” It’s the seven days that you live your life broken up into dollar productive activities and personal activities. The point of this is to try and find ways to leverage off your personal activities so that they become dollar productive.

A great example of this would be if you had kids and wanted to drop them off at school each day and pick them up at the end of the day, make sure you wear your company polo top and wrap your car with your businesses logos, so people know what you do. Also, try and meet a new parent every day, have a business card in your pocket and always tell the parents what you do. This is a great conversation starter, and the natural barrier that people have is broken down because you have got something in common which is that your children go to school together.

5. Leverage social (yes we said it again)

Andrew considers himself as a bit of an old dog when it comes to technology, but he has recently started to take much more notice of social media. Having said that, I was originally going to do the interview with Andrew over Facetime but he insisted on face to face because he believes that business is about catching up with people and finding out what’s going on in their life.

Social Media allows you for to be an advocate for your business. Jane Lu from ShowPo is a great example of this. Her business went from $20,000 per month in sales online to more than $1 million dollars per month in sales online. Jane is a walking talking billboard for her business and in the early days she had more than 100k of Facebook likes and a lot of people that had liked her page had actually met her at some point.

“When you’re in the startup phase your business page on social media is your personal page”

Andrews Morello’s Social Media Tips

Use social media as a way to keep people interested in your startup
Try not to flog too many products on your social media pages
Don’t be afraid to be a little bit rough around the edges and show some vulnerability.
Avoid putting up anything offensive but there is nothing wrong with putting up photos of you, and you’re family. It shows people you’re a family man, and that’s the type of person that people want to do business with.

If you would like to connect with Andrew or follow him, then you can below:

Website – www.andrewmorello.com

Instagram – @andrewmorello

Facebook – Andrew Marcello Morello

Twitter – @ AndrewMorello

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Startups

How an LLC Can Help Shield Your Personal Assets

Published

2 weeks ago

Aug 1, 2026

Addicted2Success Editor

Image Credit: Addicted2success

You are a freelance designer, and your client sued you over a trademark mistake. If you believe that your personal savings are safe, then you may be wrong. You are operating as a default sole proprietor. You and your business are the exact same person. As a result, your personal bank account, your car, and even your home are legally up for grabs.

However, if you start an LLC, you can build a legal shield between your business liabilities and your personal life. These days, you can easily form an LLC online.

How Does This Legal Shield Work

When you start an LLC, your business gets a distinct legal identity. Now, your LLC can open its own bank accounts, sign contracts, take out loans, buy equipment, and be held responsible for its own actions. You are not liable. This boundary between you and your business is called the “corporate veil.”

Visualizing the Separation

Inside the Shield (Business Assets)

Everything your company owns is included in this shield. If your business faces a debt collector or a lawsuit, only your business assets are at risk, such as:

Money in the business bank account
Inventory and raw materials
Office equipment, computers, and company vehicles
Business intellectual property

Outside the Shield (Your Personal Assets)

You don’t have to worry about your personal assets, such as:

Your personal checking and savings accounts
Your home and personal real estate
Your family vehicles
Your retirement funds (401k, IRA) and personal investments

What LLC Protection Covers

Business Debts and Contracts

When your LLC signs a commercial lease, hires a contractor, or buys inventory on credit, these are the obligations of the LLC. Your creditors will come after the assets of the LLC if your business can’t pay.

Lawsuits

If your business is sued over a contract dispute, faulty service, or an operational issue, lawsuits will be filed against your business. All your personal assets are safe.

What LLC Protection Does Not Cover

Personal Torts

The term “tort” refers to an act that causes harm or injury to someone else. The LLC shields you from the mistakes of your employees and general business liabilities. However, it never protects you from your own personal actions. For example, if you personally commit fraud, you can be sued personally.

Personal Guarantees

Vendors often hesitate to lend money to new, growing businesses. Such businesses don’t have long credit histories. Lenders often require you to sign a personal guarantee.

How Owners Accidentally Destroy Their Protection

The legal shield provided by forming an LLC only works when you run your business properly. The corporate veil can be pierced when a court decides that your LLC is not legitimate and strips away your protection in a lawsuit. This usually happens when you make one of the following three mistakes.

Commingling Funds

Many small business owners often mix their personal money with their business money. You are commingling funds when you use your business debit card to buy your personal groceries or you deposit a client’s payment directly into your personal checking account. The legal wall crumbles when you don’t treat your business and personal finances as completely separate.

Missing an Operating Agreement

An operating agreement is the legal document that outlines:

How your LLC is run
Who owns what percentage
How profits are handled

If the creditor’s lawyer finds out that an operating agreement is missing, they may argue that your LLC is just a shell.

Falling Out of “Good Standing”

When you start an LLC, you must file annual reports and pay franchise taxes to keep it active. The state will place your business in “Administrative Dissolution” or bad standing if you miss any of these deadlines. You could lose your limited liability protection if you operate a business under an inactive or dissolved LLC.

Startups

Move Fast without Breaking People: Product Safety Lessons for Ambitious Startups

Published

1 month ago

Jul 15, 2026

Addicted2Success Editor

Image Credit: Addicted2success

Fast growth can hide product risks until customers get hurt, especially when safety comes late in development. A software bug can be patched, but a chair, charger, or smart device can cause a burn, fall, cut, or crash.

For founders moving from a prototype to mass sales, the cases handled by Michael Kelly Injury Lawyers in Boston show why launch goals should not push testing, warnings, and foreseeable risks aside. A product claim can involve the design, how a unit was made, user instructions, or several firms in the supply chain.

Why Minimum Viable Should Never Mean Minimally Safe

A minimum viable product should test whether people want an idea, not how much danger they will accept. Teams can delay colors or premium finishes, but not guards, safe heat limits, sound wiring, or clear instructions.

Set Safety Rules Before the Build

The product brief should define who will use the item, where, and what could happen during setup, cleaning, storage, wear, or mistakes. It should also consider what a child, guest, tired worker, or first-time buyer might do.

Shared rules help teams move faster. Designers know which guards must remain. Engineers know which parts cannot fail. Suppliers know what cannot change without review.

Test How People Really Use It

A neat demo is not the real world. Users place products on wet counters, soft rugs, or rough ground. They skip a guide, use the wrong cable, or handle an item in unexpected ways.

Testing should cover misuse without predicting every extreme act. When a risk can be reduced through a guard, lock, stop switch, or clear signal, that design change is often greater than a warning alone.

How Design and Manufacturing Risks Differ

Some risks are built into the design. Others arise when production fails to match the approved plan. Teams need to identify the source before choosing a correction.

Design Problems Start with the Plan

A design problem can affect every unit. A base may tip, a blade may sit too close to a hand, a control may activate too easily, or a battery space may trap heat.

Final inspection cannot repair a flawed plan. The team may need a new shape, shield, limit, material, or control, followed by testing before more units ship.

Manufacturing Problems Break the Plan

A manufacturing problem occurs when a unit or batch does not match the approved design. A fastener may be missing, a weld may be weak, a wire may be damaged, or the wrong component may enter production.

Good records help define the scope. The team should know who made each part, which batch used it, what checks occurred, and where units went. Fast trace work can keep one fault from becoming a wider crisis.

When Customer Feedback Signals More Than Dissatisfaction

Support teams hear about delays, difficult setups, strange sounds, and refunds. Most reports are routine. Yet heat, smoke, sparks, breakage, sharp edges, sudden movement, falls, or failed guards require review.

Treat Complaints as Safety Data

One report may lack key facts, but similar reports can reveal a pattern. Staff should record the model, batch, date, use, photographs, and outcome, then alert someone who can pause sales or order testing.

Teams should not blame unusual use before asking whether another reasonable buyer could make the same choice. A support ticket can be the first sign of a hazard that lab testing missed.

Preserve the Product and the Record

After an injury, the product can help explain what failed. A repair, disposal, or undocumented test can remove evidence. The same applies to old labels, manuals, test files, customer messages, and design notes.

Startups should keep relevant items safely, record who examines them, and preserve earlier versions of instructions and warnings. This history can show what changed and why.

Why Warnings Must Reflect Real Use

A warning works only when a user notices it at the right time. Dense text at the back of a manual may not help during setup. The message should name the hazard, explain the harm, and state what reduces the risk.

Placement matters too. A charging risk belongs near the port. A weight limit belongs where weight is added. Even so, warnings should not replace a safer design when the hazard can reasonably be removed.

How Founders Can Preserve Speed without Cutting Safeguards

A delayed launch, redesign, or recall can feel like defeat. In practice, early action can prevent harm, protect trust, and give the team better facts for the next version. The strongest startups move quickly because their systems protect people.

When a product injures someone, legal guidance can help preserve the item, collect design and manufacturing records, identify responsible companies, and examine whether a defect or unsafe choice caused the harm.