In “EP 11: You Must Spend Money to Make Money” of the “One Eye Deer” Podcast, we learn the importance of spending money to make money and how much is needed to invest into a business.
Recently, an acquaintance in Malaysia contacted our KL office with the desire to start a business in KL or Selangor.
It is a B2C (business to consumer) to sell services directly to end clients. The nature of the business requires a physical location that caters to customers.
The acquaintance had done her own projections and calculated her initial capital outlay and monthly expenses needed to operate her business.
When we heard these figures, we immediately felt it was tremendously undervalued.
We did our own rough projections based on our experience and took the following costs in mind. Our projections for capital needed was more than twice projected and monthly expenses were almost 3 times as much as hers.
Unfortunately, the acquaintance felt our projections were too high and not realistic. And that her figures were viable.
So is it really necessary to spend first in order to generate more revenue for your business in the long run?
Join certified marketing management consultant, J C Sum, as he talks further on whether you must spend money to make more money.
Timestamps:
00:43 A story of starting a new business in KL.
03:13 True cost of starting a business in the Klang Valley.
04:42 The reality of time and money taken to generate business revenue.
06:28 Spend money or save money?
07:51 Time taken from an idea to business launch.
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About One Eye Deer:
The One Eye Deer podcast is produced by Evolve & Adapt, an award-winning strategy & digital consulting firm based in Singapore and Malaysia.
If you are looking to build your brand and generate massive leads and sales, book a marketing consulting call at EvolveAdapt.com
Trivia
The name of the podcast was inspired by the riddle:
What do you call a blind deer?
No eye deer.
Since the podcast explores one marketing idea each episode, it features “one idea” (one eye deer).
The podcast is more than 2 years in the making. The idea of a podcast was first conceived in early 2020. It took shape as “One Eye Deer” in Feb 2021 and finally launched 13 months later.
Artwork
The “One Eye Deer” mascot was designed by Eugina Lee (IG : lee.eugina) based on the concept developed by J C Sum.
Music
One Eye Deer theme performed and produced by Darren Teh, An Honest Mistake.
Adapted from “Do-Re-Mi”, “The Sound of Music”. 1959 Rodgers and Hammerstein.
