- Joined
- Jul 3, 2012
- Messages
- 453
Rep Bank
$1,780
$1,780
User Power: 243%
I know that execution matters and ideas are a dime a dozen, but I would still like some feedback on this whole concept as there is always a certain kind of danger to fall in love with your idea too much and overlook potential flaws.
I am grateful for any kind of feedback and I promise to document every step of this journey on these forums once I start it, so that others can possibly gain some useful insight.
This is a mixture of various other ideas I had. The main idea behind this is that every person likes to be appreciated for the work they are doing. From personal experience I know that employers often lack the time or effort to show their employees that they are doing a good job. Employees on the other hand often feel underappreciated and not valued enough for what they are doing.
This is what I have in mind:
A subscription based service that allows businesses to send customizable vouchers together with a letter or a giftcard each x months to its employees.
Everything can be customized: The type of voucher (Amazon, local businesses), the money amount per voucher,the letter/giftcard text, the envelope.
Imagine receiving a black envelope with golden letters containing a personalized letter saying "Dear John Miller, we thank you for your excellent work this month yadayadayada" and a voucher worth $20.
Pretty cool.
This has various benefits for business owners: Increases motivation (studies saying by up to 30%) as money is not the only motivational factor and loyalty to the company (employees feeling valued), differentation (standing out) raises corporate feeling, creates buzz, employees talking about it, press talking about it "First company in XYZTOWN to do that",cost effective way to increase productivity
The pricing is something I'm not really sure about. This business model obviously relies on scale rather than magnitude.
My idea is to charge voucher value + $5 + extras. So if someone wants $10 vouchers it would cost him $15 for the voucher, a customized letter/gift card text and shipping. If he wants to brand the giftcard, wants another envelope etc he has to pay extra, like +$1/extra. Another approach would be to offer multiple versions without the customization. eg. Silver (voucher value +$15) Gold(voucher value +$17,50) Platinum (voucher value +$20). Silver being the basic version, Platinum obviously the version with all the features like branding, black envelope, silver/golden letters. Disadvantage of going that way is that the customer can not fully customize it, on the other hand it avoids feelings of mental overload as there are less decisions to make.
I envision a website similar to wonga.com with a professional, but not too techy look that makes use of sliders to allow setting the number of employees and the voucher value. So if someone entered 300 employees and a voucher value of $10 it would then say below:
For as little as $15 per person you can make 300 people up to 30% more productive, 20% more loyal, 15% happier OR you can hire 3 new people.
[BUTTON] YES, I want to SUPERCHARGE my employees!
That button would then link to the nextstep of the sales funnel which is an account creation page or the beginning of the customization process.
Fast forward..at the end there would be 3 shipment options:
Long term plan is to offer a wider variety of products like books, food, flowers, day trips to choose from and also get motivation coaches and the like on board and offer personal coaching for executes, group coaching and so on. You could also leverage the user base to get discounts on the vouchers to increase the profit. I talked to a few businesses saying "If I would bring you 1000 customers, would you give me that $10 voucher for $5?" and most of them agreed.
To advertize the site and get customers I got a few things in mind: Send free samples to editorial offices of newspapers and websites in exchange for an article after contacting them via Email or phone, media buys on news sites and a simple referral program where the referrer gets 10% of the ordered vouchers once. Also I will cold call every business from A to Z in my area.
If you've read this far, thanks for your time! I appreciate it.
I am grateful for any kind of feedback and I promise to document every step of this journey on these forums once I start it, so that others can possibly gain some useful insight.
This is a mixture of various other ideas I had. The main idea behind this is that every person likes to be appreciated for the work they are doing. From personal experience I know that employers often lack the time or effort to show their employees that they are doing a good job. Employees on the other hand often feel underappreciated and not valued enough for what they are doing.
This is what I have in mind:
A subscription based service that allows businesses to send customizable vouchers together with a letter or a giftcard each x months to its employees.
Everything can be customized: The type of voucher (Amazon, local businesses), the money amount per voucher,the letter/giftcard text, the envelope.
Imagine receiving a black envelope with golden letters containing a personalized letter saying "Dear John Miller, we thank you for your excellent work this month yadayadayada" and a voucher worth $20.
Pretty cool.
This has various benefits for business owners: Increases motivation (studies saying by up to 30%) as money is not the only motivational factor and loyalty to the company (employees feeling valued), differentation (standing out) raises corporate feeling, creates buzz, employees talking about it, press talking about it "First company in XYZTOWN to do that",cost effective way to increase productivity
The pricing is something I'm not really sure about. This business model obviously relies on scale rather than magnitude.
My idea is to charge voucher value + $5 + extras. So if someone wants $10 vouchers it would cost him $15 for the voucher, a customized letter/gift card text and shipping. If he wants to brand the giftcard, wants another envelope etc he has to pay extra, like +$1/extra. Another approach would be to offer multiple versions without the customization. eg. Silver (voucher value +$15) Gold(voucher value +$17,50) Platinum (voucher value +$20). Silver being the basic version, Platinum obviously the version with all the features like branding, black envelope, silver/golden letters. Disadvantage of going that way is that the customer can not fully customize it, on the other hand it avoids feelings of mental overload as there are less decisions to make.
I envision a website similar to wonga.com with a professional, but not too techy look that makes use of sliders to allow setting the number of employees and the voucher value. So if someone entered 300 employees and a voucher value of $10 it would then say below:
For as little as $15 per person you can make 300 people up to 30% more productive, 20% more loyal, 15% happier OR you can hire 3 new people.
[BUTTON] YES, I want to SUPERCHARGE my employees!
That button would then link to the nextstep of the sales funnel which is an account creation page or the beginning of the customization process.
Fast forward..at the end there would be 3 shipment options:
- without any names sent to the business address, so they hand them out themselves
- with names sent to the business address, they hand them out themselves, but it's more personal
- sent directly to the employee, element of surprise, best effects. This would require the customer to enter all the employees data which could be quite time consuming. So I would use a script saying "It would take you voucher number x 10 seconds to enter that data manually or you can give us a call at 000/000000 which takes about 60 seconds and let us do the rest" I would then have them send me a list via email or fax and enter the data myself.
Long term plan is to offer a wider variety of products like books, food, flowers, day trips to choose from and also get motivation coaches and the like on board and offer personal coaching for executes, group coaching and so on. You could also leverage the user base to get discounts on the vouchers to increase the profit. I talked to a few businesses saying "If I would bring you 1000 customers, would you give me that $10 voucher for $5?" and most of them agreed.
To advertize the site and get customers I got a few things in mind: Send free samples to editorial offices of newspapers and websites in exchange for an article after contacting them via Email or phone, media buys on news sites and a simple referral program where the referrer gets 10% of the ordered vouchers once. Also I will cold call every business from A to Z in my area.
If you've read this far, thanks for your time! I appreciate it.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
