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Hi, welcome back to The Wealth Wagon. Today we will be discussing the another startup, this one focusing on payroll and how businesses can simplify payment processing and hiring. Enjoy!

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The Business Builder

Today’s Startup Spotlight:

Deel is a global payroll and compliance platform revolutionizing how businesses hire and pay remote workers worldwide. Founded in 2019, Deel serves over 15,000 clients across 150 countries. Its intuitive interface simplifies international hiring by managing contracts, taxes, and local regulations. Despite its success, Deel has faced scrutiny over potential misclassification of workers as independent contractors.

• Global HR and Payroll Market: Valued at $10 billion, with moderate 50% market saturation.

• Startup Costs: Developing a similar platform may cost between $500,000 and $1 million.

Startup Score of: 7/10

This startup shows great potential although it is entering into a very competitive industry and may struggle for a significant amount of time before growing drastically.

Growth Hacks

Hack 1: Build Strategic Partnerships
Collaborating with businesses that share your audience can exponentially increase visibility. For example, a local fitness studio might promote your health food brand in exchange for a discount code for their members.

• Identify partners with overlapping customer bases

• Offer incentives like co-branded promotions or profit-sharing

• Example: A yoga studio displays your organic tea products during classes

Hack 2: Upsell With Value-Added Services
Increase your average transaction value by offering complementary services or products. For example, a subscription box company could upsell a one-time seasonal product.

• Highlight benefits of add-ons

• Create urgency with limited-time offers

• Example: “Add a $10 aromatherapy candle to your box—only available this month!”

Key Tip For Business

Sales Masterclass

1. Master the “Three Yes” Technique
Start your pitch with easy-to-answer “yes” questions to build momentum. For example:
“Would you like to save money? Do you value convenience? Can you see yourself using this product daily?” By the time you present your offer, your customer is primed to say yes again.

2. Use Anchoring to Show Value
Set a high initial price to establish value, then offer a more affordable option. For example:
“Most people choose our $99/month package, but today, you can get started with just $49/month for the first three months.”

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Business Marketing 101

Invest in Niche Events and Conferences
Targeted events allow you to connect directly with potential customers or partners in your field. Setting up a booth or sponsoring an event gives you direct exposure to highly engaged audiences.

• Research events where your ideal audience gathers

• Offer free trials or exclusive discounts to attendees

• Example: A small tech startup demos its app at a $500 booth during a developer conference, gaining 150 new leads.

Create an Email Drip Campaign
Email marketing still offers $36 ROI for every $1 spent, making it one of the most effective tools for nurturing leads. Set up a series of automated emails to educate, engage, and convert prospects over time.

• Structure emails into awareness, education, and offer stages

• Use personalization to improve open and click-through rates

• Example: A fitness studio sends a three-part email: (1) Why fitness matters, (2) Top workouts, (3) Discount for joining.

Key Takeaways:

• Startup Spotlight: Farmlyte could disrupt the $80 billion local food market.

• Growth Hacks: Strategic partnerships and upselling boost revenue.

• Tip: Use LTV to scale marketing profitably.

• Sales Masterclass: Leverage the “Three Yes” technique and value anchoring.

• Marketing: Find conferences that are of a similar niche as your business for exposure.

That’s All For Today

I hope you enjoyed today’s issue. If you have any questions regarding today’s issue or future issues feel free to ask. Come back tomorrow for information on how to grow your income and wealth. I hope to see you.

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