New Path Business Advisors LLC | Application Preview
New Path Business Advisors LLC is seeking government grants to enhance its services and expand its operations. The requested funding will be allocated primarily to marketing ($18,000), administrative support ($22,000), sales support ($30,000), and additional marketing initiatives ($30,000).
The business plan focuses on building marketing and lead generation strategies for group advisory programs, masterminds, and evergreen products. The goal is to enroll 50 new clients annually into the group coaching program, priced at $1,297 per month or $15,000 if paid upfront, while anticipating a 35% yearly attrition rate. The company plans to launch two new evergreen products each year, targeting sales of 100 units priced between $1,997 and $3,997. Strategic partnerships and affiliate programs are expected to further increase revenue.
In terms of client relations, the company aims to manage ten one-on-one clients in 2023, with service fees starting at $30,000 and potentially reaching up to $100,000. Two masterminds are already scheduled for 2023, expecting revenues of $20,000 to $40,000 each.
The applicant emphasizes their extensive background in business development and consulting, citing years of experience in improving operational efficiencies and driving revenue growth. This experience, combined with a unique perspective gained from working across various industries, positions them favorably against competitors.
New Path Business Advisors identifies the competitive landscape as crowded but argues that few consultants possess the practical experience that sets them apart. The founder’s personal journey, which includes overcoming significant business challenges, reinforces the firm's empathetic approach and commitment to client success.
The business projects a significant revenue growth trajectory, aiming for $4 million annually within five years. The application conveys a strong belief in the value of the services provided, asserting that they offer a unique blend of knowledge, empathy, and a positive return on investment guarantee.
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General Information
Business Registration Number: 83-9090415
Location: Chicago, IL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I plan to allocate the funds to these main areas: $18,000 Marketing Agency - to manage and implement marketing strategies $22,000 Admin support $30,000 Sales Support - (Most of their earnings will be through a performance-based comp plan) $30,000 - Misc Marketing Initiatives (SEO, Joint Ventures, Masterminds, Live/Online Events, etc.)
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Business Plan
We will focus on building out our marketing and lead gen for group advisory programs, masterminds, and evergreen products. The goal is to enroll 50 new people each year into our group coaching program at $1297/mo or $15k per year if paid upfront. We expect a 35% attrition rate each year. We will roll out new 2 evergreen products each year. They will be priced between $1997-$3997 and we will sell at least 100 of those through down sells, online event promotions, targeted ad spend, social media marketing, and referrals. We expect these to scale upwards as our reach and influence grow. We will look at strategic affiliate partnerships in Q4 2023 to sell many more units in the following years, expecting the gross profit margin on affiliates sales to be 50%. 2024 =20 per month, 2025= 30 programs per month. GPM after comp split and advertising should be at least 65%. We plan on taking on Ten, 1-on-1 clients in 2023. We currently charge $30,000 as the minimum investment with the average being closer to $50,000 per client. We plan to make $50k the new minimum with some larger engagements being closer to $100k. I have 2 masterminds currently scheduled for 2023, that will bring in between $20-$40k each, depending on registration #'s, with after-program sales that should bring in an additional $10k each. We are talking about doing one every quarter. I may have a few paid speaking gigs again, but those will be one-offs and probably not more than $10k in total speaking fees. Starting in 2024, if the flow of qualified prospects justifies it, I will look at building out a team of qualified consultants under my banner, splitting revenue with them. This will more than double the business with little additional overhead other than slightly increased lead gen, software licenses, and a little more admin support. 5-year trajectory is revenue of $4 million per annum. I have a unique background that perfectly aligns with this type of work and few can match. I have decades of experience successfully building, leading, and turning around businesses, and helping them generate significant increases in their revenue and profit, improving operational efficiencies, and their organizational and cultural health. From my corporate world experience to my entrepreneurial ventures, few have the experience, diversity, and track record I have. I have helped my clients generate tens of millions in new revenue and profit while improving their quality of life at the same time. I help them become the CEO of their company with more control of their time vs. just an owner-operator of the business that is always pressed and stressed on time. After decades in and around the world of lending, I have worked with every type of business and industry, and have had a unique view behind the curtain of thousands of companies, from start-ups to large multinationals. All that said, don't just take my word for it, read what my clients have to say about working with me and my team. Google My Business: https://bit.ly/3YZJral Facebook: https://www.facebook.com/newpathbusinessadvisors/reviews Linkedin: https://www.linkedin.com/in/johnsedej/details/recommendations/
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Self Identified Competition
On the surface, competition in the consulting and coaching space seems to be quite vast with so many people calling themselves a "Coach, Consultant, Advisor, Strategist, etc." these days. However, very few have little or no experience running a business, leading teams, and have a proven track record to back up their claims. Even fewer have had a fraction of the exposure to so many different businesses and industries as I have. In fact, less than 10% of all consultants/coaches have ever owned a business and less than 3% have generated at least 6 figures of gross revenue annually. In many ways, my experience as a business owner gives me a level of compassion, empathy, and humility, that allows me to relate and connect with my clients in a way most others can't. I grew up with parents who owned an international marketing company for over 40 years that provided exposure to successful principles and people that few others ever had. I leveraged those lessons to achieve success in all areas of my life: education, sports (Div 1 Scholarship Athlete (soccer) at Michigan State), career (award-winning salesperson and manager at Enterprise Fleet Management (Division of Enterprise Rent-A-Car), building a successful multi-million dollar per year mortgage company that we successfully sold in 2016. During the economic and real estate fall-out of 2008+, I had to dig out from a failed real estate investment company I owned on the side with a couple of different business "partners" who I found out had been embezzling millions of dollars and doing shady deals without my knowledge. Once everything came to light, they skipped town. Against my accountant and lawyer's advice, I personally took on the debt, and over the next 7 years, I settled everything, paid back every private investor, and did it without a single property going into foreclosure or claiming bankruptcy. During that time, I began the first iteration of my current company, then called New Financial Path, where I helped businesses and individuals learn how to live a financially healthy life centered around their values. Since that time, I have helped build multiple, multi-million businesses, and parlayed these different experiences and more into my programs and services at New Path Business Advisors. You will not find the unique package of knowledge, experience, heart, and empathy in any other firm. Our results are so proven that we put a bow on top by offering a positive ROI Guaranty.
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