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Joined FL in late 2007 w/10K+ in CC Debt. Now biz averages 170K/month. AMAA

TropicalGuy

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Haha, to be honest the most important cold calls are generally partnership inquiries not cold leads. So calling website owners seeing if they'll help you sell your product, or scouring the phone book looking for people with extra square footage they are willing to sublease for under the market rate. I've been to many trade shows where I've made 100's of cold approaches trying to strike up partnerships and seek out needs. We've used a lot of that experience to train our team, a few of whom still make cold calls.

I can't answer your question directly because I've been doing business for the better part of a decade, and business gets done on the phone :D

Dan,

How many cold calls did you make at the beginning of your entrepreneurial journey?

How about in total?

You can give rough estimates!
 
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MnLGmz

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Hello

Thank you for all the support that you have provided in this topic.

I am 26 years old, I'm from Venezuela. For 2 years I have been importing products from China, with many difficulties due to the lack of experience on the subject. I work especially of personal care and cosmetic products.

Since long time ago I've come looking for an agent, a company or a service that offers the service of quality control in the manufacturing of products.

In the past year increase to 3 imports per year with my star product (disposable razor), I am a small importer, but a visionary man.
The largest problem in my business is the manual inspection of products. Upon I receipt each container, I have to check with my team, carton by carton for defective units before sell them, so you can imagine the big time consuming that It take.

How can you help me in this case? Could you give me some Q/C providers that you use that can help me with my business success?

Thanks you very much in advance for any help you can give me, since this will help me to expand my product lines with the guarantee of a better quality in my products.


Hmm... that's a tough one. IF you don't have expertise here, your best bet is to leverage somebody else's. In other words, you'll want to white label or re-position an already great product for a new market (or put a new logo on something sweet and sell it into a new market). For example I met a guy the other day swimming in new loot he made from taking a successful supplement product and putting it in spanish language packaging. (He doesn't even speak Spanish!).

Once you've got your product selected, the best bet is to have an agent in China doing Q/C for you. We pay our sourcing office 5% of total invoice for the services. The market rate is 5-15% of total FOB invoice.
 
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TropicalGuy

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I see the issue, you defo should not be doing QC in your home country, this needs to be done in China and it shouldn't ship before it's completed. Do you have a budget for this task? PM it to me (per container) and I might be able to help you identify someone.

Hello

Thank you for all the support that you have provided in this topic.

I am 26 years old, I'm from Venezuela. For 2 years I have been importing products from China, with many difficulties due to the lack of experience on the subject. I work especially of personal care and cosmetic products.

Since long time ago I've come looking for an agent, a company or a service that offers the service of quality control in the manufacturing of products.

In the past year increase to 3 imports per year with my star product (disposable razor), I am a small importer, but a visionary man.
The largest problem in my business is the manual inspection of products. Upon I receipt each container, I have to check with my team, carton by carton for defective units before sell them, so you can imagine the big time consuming that It take.

How can you help me in this case? Could you give me some Q/C providers that you use that can help me with my business success?

Thanks you very much in advance for any help you can give me, since this will help me to expand my product lines with the guarantee of a better quality in my products.
 

TK1

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Haha, to be honest the most important cold calls are generally partnership inquiries not cold leads. So calling website owners seeing if they'll help you sell your product, or scouring the phone book looking for people with extra square footage they are willing to sublease for under the market rate. I've been to many trade shows where I've made 100's of cold approaches trying to strike up partnerships and seek out needs. We've used a lot of that experience to train our team, a few of whom still make cold calls.

I can't answer your question directly because I've been doing business for the better part of a decade, and business gets done on the phone :D

Source: https://www.thefastlaneforum.com/book-recommendations/26447-your-first-100-million-dan-pena.html

img_017.jpeg
 
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TheChosenOne

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Hey Dan,

I'm writing my first book and hoping it'll turn into a screenplay. Are there any tips you can give me about the process, publication, editors, etc? Anything that can help.
 
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jyouk

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Biz averages 170K/month, started in late '07 with 10K+ in CC Debt. AMAA

Hey all, I was re-reading MJ's book this morning because I'm trying to write one of my own (pro tip: don't re-read MJ's book if you want to write one of your own… it'll be tough to match it…) so in a fit of procrastination I came over the the forum and decided I'd see if I can help anyone here.

So, you might be wondering what my business does. We do a lot of stuff. Here's some examples:

Now we have 15 employees and I've been basically a full time digital nomad since 2009. (I have a 50/50 business partner, @AnythingIan… he thinks I'm working on a book right now :)

So a few things about my story:

  • I didn't go to a fancy school. (Almost failed out of high school, went to Clemson in South Carolina because it was warm and they let me in).
  • I didn't have any money. My dad works in a furniture shop and my mom is a secretary. We got student loans so I could go to college.
  • Nobody in my family has any money.
But I knew I wanted to be rich and have personal freedom. So some strategies that worked for me (and these are very broad and long term strategies), YMMV.

  • (this was an accident) Get a job working for a small business entrepreneur. Most people who hate their jobs work them and then come home and try to side hustle. This is a sub par strategy because most of your best energy is being spent in the slow lane trajectory. Better to find a job that teaches you fast lane skills and builds fast lane relationships. Many of the relationships I built in that small biz job I still have today, and my old boss became my first investor. Ever hear the adage your employer is your first client? It's true. Live it. Another thing to consider: if you can't evolve and build your job to give you more freedom, money, control etc, GET OUT and use it as a litmus test for your ability to change organizations. If you can't do it in the framework of somebody else's company, it could be even more difficult to do it on your own. Rambling now…
  • Get good at building relationships with people who are powerful. The art of seduction and the art of power are good books here. YOU CAN NEVER BE NEEDY. That's tough when you've got needs :) You must build a compelling expertise that inspires curiosity in powerful people. Have your own personal black box. Something that when rich powerful people meet you, they are like "that person is on to something." You must also believe that you are on to something, because when you meet those powerful people you'll be giving them stuff and not asking for anything.
  • Learn to lead. Leading means deciding what to do and asking others to join you. Do often. Rinse. Repeat.
  • Get ready for a total life transformation. I've never met a hyper successful entrepreneur who didn't spent the majority of their best energy thinking about biz-related projects and information. This isn't a side gig, this is the main event. If you aren't prepared for that, probably best to try to maximize your savings, get a fun hobby, and hang with your bros. Speaking of which…
  • Ditch your bros. Or whoever in your life is holding you back. MINDSET and RELATIONSHIPS are everything. They will evolve fast if you do, so be prepared to have a whole new set of friends when this transition is over. I'm sure you've heard-- you are the average of your 5 closest friends? If you find yourself in a situation where you are lecturing everyone in your life about the benefits of entrepreneurship, you are in the wrong room.
  • Work with what you have--expertise is everything. I own a manufacturing company because I spent my teenage years working in factories, then college years working in warehouses, which got me a job working with a small manufacturing company. I didn't decide to start some "web app" on the side, I went with what I knew because I couldn't afford (at the beginning) to do anything else.
  • Read more books than anyone you know. Simple strategies like this work well for me. I didn't have money. I didn't have a powerful family or any successful friends, so I READ THE SHIT out of some books. BOOKS are FASTLANE. Also podcasts helped me a lot too, that's why I started one.

Ok, I'll stop ranting. If you think I can help you ask a question and I'll give you my answers! Best of luck in your entrepreneurial journey.

Final message: 5 years ago I was broke, desperate for more freedom, and felt bad when I had to ask my boss to let me leave the office to get a dentist appointment. I said F*ck that, dedicated every moment in my life since then to fixing the situation and now I can be anywhere, make way more money than a freakin' dentist, and get to do what I want. Like hanging out in this forum trying to light a fire under your a$$. My life isn't perfect, but it sure is fun.

Ask me almost anything!
I've been following your podcast for awhile now, its good to see you here on the forum!
 

Dan Da Man

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Apr 20, 2012
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Purely epic. I am now reading your blog and you seem very similar to me in a way. Your lifestyle is exactly what I want someday.

I am almost there. Our business did over $300,000 in sales this year (online ecommerce brand we created).

Projecting to do about $700,000 this next year or more.

So, I know I am not that far away. Took me 4 years of struggle, headache, constant sleepless nights but I know it will all be worth it one day. So many times I felt like what I was doing was not working but I never gave up. Talk myself everything I know and for that I know I don't have to rely on anyone to get me to where I want to go.

Honestly, I am starting to look into Bali. Living in SD right now but the same thing for so long tramples my creativity.

Cheers
Dan
 

MnLGmz

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I see the issue, you defo should not be doing QC in your home country, this needs to be done in China and it shouldn't ship before it's completed. Do you have a budget for this task? PM it to me (per container) and I might be able to help you identify someone.

Hi, i PM you but i never receive any answer from you,

I would like to have a QC Provider that makes me feel assured that the product will arrive in perfect condition, ready to sell.

Let me know which one you can recommend me, i don't have any budget, but i can make it without problems, the most important thing to me is the product quality.
 
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eqttrdr

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Developed a problem that solves a definite need. However our product doesnt sell because people tell us that they don't trust us and think we are a scam.

100 landing pages later, 100 reviews later, 10 trust logo's later, a/b split testing, gurus in the niche giving us testimontials and STILL people dont trust us.

when others sell our product people buy like crazy.... when we sell our product... well, .02% conversion rate..

going crazy in my head
 

SirTristram

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Thank you for all this information.
I lived in Bali (Ubud behind the monkey park) back in 06 for a year when I was 11 and now I just came back to indonesia, currently in Sumatra on a surftrip and I must say the "indovibes" are amazing. When I start generating income i'm without a doubt going to be spending alot more time in this part of the world.
What part of Bali have you made your home?
 
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D

Deleted25642

Guest
High quality mastermind = small group of entrepreneurs you talk to or meet weekly to talk about biz problems and how you are resolving them.

Regarding your site= if you can't say what problem you are solving, you've got a big problem. Learn start-up starts with customer development, which is a free process. I wouldn't have developers on board until you are clear about that.

Regarding your marketing, you'll need to do something where I can figure out what you do within 3 seconds. "Ranking fans" doesn't make any sense to me-- sounds like a new concept.

So what problem do you solve? And how are you going to charge for it?

Than customer development means you get those people on the phone and ask them if they'd pay for it.

If your customers will be advertisers put together ad packages and figure out exactly how much of ad space / ad type etc you'll need to sell in order to make this a viable biz for you.

Wow. Thank you for your podcasts and what you are sharing here. This post is exactly what I needed as a quick list to sort out my ideas and move forward with them if they are worth the time.
 

Leo Hendrix

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Oh snap, your the guy who started tropical MBA? damn, very nice podcast!

Will look into the Dynamite Circle once I get everything rolling right. Someone from here mentioned it.

Please @TropicalGuy which books are you referring to? The art of power and the art of seduction?
 

JT388

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Biz averages 170K/month, started in late '07 with 10K+ in CC Debt. AMAA

Hey all, I was re-reading MJ's book this morning because I'm trying to write one of my own (pro tip: don't re-read MJ's book if you want to write one of your own… it'll be tough to match it…) so in a fit of procrastination I came over the the forum and decided I'd see if I can help anyone here.

So, you might be wondering what my business does. We do a lot of stuff. Here's some examples:

Now we have 15 employees and I've been basically a full time digital nomad since 2009. (I have a 50/50 business partner, @AnythingIan… he thinks I'm working on a book right now :)

So a few things about my story:

  • I didn't go to a fancy school. (Almost failed out of high school, went to Clemson in South Carolina because it was warm and they let me in).
  • I didn't have any money. My dad works in a furniture shop and my mom is a secretary. We got student loans so I could go to college.
  • Nobody in my family has any money.
But I knew I wanted to be rich and have personal freedom. So some strategies that worked for me (and these are very broad and long term strategies), YMMV.

  • (this was an accident) Get a job working for a small business entrepreneur. Most people who hate their jobs work them and then come home and try to side hustle. This is a sub par strategy because most of your best energy is being spent in the slow lane trajectory. Better to find a job that teaches you fast lane skills and builds fast lane relationships. Many of the relationships I built in that small biz job I still have today, and my old boss became my first investor. Ever hear the adage your employer is your first client? It's true. Live it. Another thing to consider: if you can't evolve and build your job to give you more freedom, money, control etc, GET OUT and use it as a litmus test for your ability to change organizations. If you can't do it in the framework of somebody else's company, it could be even more difficult to do it on your own. Rambling now…
  • Get good at building relationships with people who are powerful. The art of seduction and the art of power are good books here. YOU CAN NEVER BE NEEDY. That's tough when you've got needs :) You must build a compelling expertise that inspires curiosity in powerful people. Have your own personal black box. Something that when rich powerful people meet you, they are like "that person is on to something." You must also believe that you are on to something, because when you meet those powerful people you'll be giving them stuff and not asking for anything.
  • Learn to lead. Leading means deciding what to do and asking others to join you. Do often. Rinse. Repeat.
  • Get ready for a total life transformation. I've never met a hyper successful entrepreneur who didn't spent the majority of their best energy thinking about biz-related projects and information. This isn't a side gig, this is the main event. If you aren't prepared for that, probably best to try to maximize your savings, get a fun hobby, and hang with your bros. Speaking of which…
  • Ditch your bros. Or whoever in your life is holding you back. MINDSET and RELATIONSHIPS are everything. They will evolve fast if you do, so be prepared to have a whole new set of friends when this transition is over. I'm sure you've heard-- you are the average of your 5 closest friends? If you find yourself in a situation where you are lecturing everyone in your life about the benefits of entrepreneurship, you are in the wrong room.
  • Work with what you have--expertise is everything. I own a manufacturing company because I spent my teenage years working in factories, then college years working in warehouses, which got me a job working with a small manufacturing company. I didn't decide to start some "web app" on the side, I went with what I knew because I couldn't afford (at the beginning) to do anything else.
  • Read more books than anyone you know. Simple strategies like this work well for me. I didn't have money. I didn't have a powerful family or any successful friends, so I READ THE SHIT out of some books. BOOKS are FASTLANE. Also podcasts helped me a lot too, that's why I started one.

Ok, I'll stop ranting. If you think I can help you ask a question and I'll give you my answers! Best of luck in your entrepreneurial journey.

Final message: 5 years ago I was broke, desperate for more freedom, and felt bad when I had to ask my boss to let me leave the office to get a dentist appointment. I said F*ck that, dedicated every moment in my life since then to fixing the situation and now I can be anywhere, make way more money than a freakin' dentist, and get to do what I want. Like hanging out in this forum trying to light a fire under your a$$. My life isn't perfect, but it sure is fun.

Ask me almost anything!


I've began a digital service business (I edit photos), now I really need to try and get clients / leads online, but I don't know the best cheap traffic source? First I thought scouring a big list of facebook groups, and posting in them once a week (a free traffic source), then I thought how about paying $100 a week to get on the homepage of Gumtree (Australias Craigslist), I always lose out spending 50c+ per Facebook ads clicks, which never convert (I just cant afford to spend 3,000$ on it testing for the perfect campaign) I am selling a very low ticket product ($4.50, but clients normally order 5 so $22~) Then I thought about finding some relevant blogs and asking the owners to advertise me for x amount of dollars etc etc - where the hell do I go to get my clients / sales? Instead of losing out and testing everything, going broke, if you could guide me with what you recommend is a good traffic source, please, please do. You'll be changing me life.
 

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