Thread: Diary of Opening A New Business

Originally Posted by JackEdwards

We are launching a new product line this morning.

I believe this is the beginning of the actual curve upwards. I have my peeps in place, a name in the market, and now it is go time.

If everything goes as planned, we should double in size in 60 days. and be into a lot of profit. (which I will probably just reinvest).

On a personal level. I am very excited, But my passion is not where it should be, I find myself wasting countless hours, countless amounts of time. I have no focus, not much drive. Honestly it is like I am going through the motions and because I have made money and think I know what I am doing. I am acting as if I am already at my 25 million in sales.

I wish I could snap out of it. < this might be insecurity or fear of failure talking, I don't know. Just thought some people might like to know what goes through peoples heads at any and all levels.

You young people. Keep your wonderment going.

Is it because you don't necessarily need this business to flourish? I got the impression you were trying it out because it might be interesting and could make some cake, but that you were essentially fine even if it didn't take off.

Sounds like it may be getting to a selling point (where you try to keep a little of the equity to profit from the fire of the person you sell it to)......could then just coach them instead of giving it day to day.

Thanks everyone for your responses. I think after a week off and a little needed vacation, I am back on course.

I cannot wait until the new year to start. New thing I have added has made some sales.. Great news for me.. Going to scale that up pretty quickly, come January 10th or so.

Originally Posted by theBiz

Jack you have made a business flourish in a very short amount of time. Most people think about ideas in the period of time that you have grossed millions with this new venture.. Also, you told us $25k in startup capital is what you allocated for this from the jump.

These are all very impressive things, can you tell us even for someone of your caliber, what was the hardest part or biggest hurdle to get over?

What was the most unexpected roadblock that came your way?

Was it difficult for the sales team to get traction?

At what point do you realize your approach is bad or your product is not going to be easy to sell?

i think this is one of the most difficult question every entrepreneur has to ask themselves, is it the product or my approach.

thank you.

1. Biggest hurdle, starting over with nothing, not even a stapler.

2. Roadblock, humm.. just hiring a team, and creating sales material, etc..

3. Yes, usually 3rd or 4th contact, we are really getting exponential results now.

4. I knew my product and service would sell. Or I would not of wasted one second.

5. Someone of My caliber, really I am just starting over, just cause I have a few more toys to start with does not mean I have any better chance. It still is the idea and the follow through..

Originally Posted by theBiz

Jack im pretty amazed by your business. I mean it seems your selling "hype" almost. I understand people to people will almost be important but whatever you are selling...


Are you not dealing with competetiors cheaper pricing?

Is the internet not a threat to whatever your doing? that is pretty difficult in anything today/

It almost seems like your doing some old school type of importing and selling, does alibaba.com and such hurt you?


I think the real science of all of this is you are combining a sale with a monthly service. Your monthly service acts like a strong back end which enables you to have a high CPA, not sure if you do but always a nice cushion.

Thanks, I am not selling hype at all.. As I said before, boring old business is all it is.

1. Actually most of my competitors cost more on some items and less on others.

2. It is but being in an old industry, most of the Customers need a quick answer, are they moving more to the internet, yes and no, but customer service, price, delivery times, etc make them call me.

3. Well no, alibaba does not hurt me at all. Volume and inventory constraints.. If that makes sense.

But 2012 is my year.. things are going to get very interesting.

Originally Posted by theBiz

Yes it does. you know i see such a big opportunity in importing one product, if i had no current business i was working on i think id peruse. I think there is alot of money to be made on plumbing products. Radiant heat pipe, pvc, boilers, even the fittings. I know products costs so much, maybe im wrong but things seems so overpriced in that segment right now. Problem is i think it makes you 100% price based, there are no monthly charges etc.

Actually there is a monthly service.. It's like an enigma wrapped in a riddle, isn't it? But if I could, I could explain the whole process in 5 minutes and you would be like, wow, I really understand. That makes sense. Sorry can't yet. Lot's of layers.

But yes focus on one product, or two, bigger more expensive products, and think how can i get this into the hands of all plumbers while filing a need for local wholesalers and manufacturers.

Very interesting read! Really like the pictures too Any updates?

Any updates?
This is one of the great threads on here imo.

Not much new to report, Still growing well, Sales are coming in. New project going really well.

Just scaling it up at a good pace.

Great to hear that it's going well! Just out of curiosity, how many people do you have employed at the moment? And how many hours do you work per week?

Hey Jack, any updates on this? Was nice seeing the weekly or so updates and it's been awhile. Can't wait to hear any improvements or new milestones reached!

Originally Posted by BEAR

Its been a little over a year since you started this and you originally stated that you planed to sell it after two years.
How is that goal looking?

I don't know. Since we stumbled quite a bit with the start-up, maybe-hopefully another 18 months.

Originally Posted by saigon

Hey Jack, any updates on this? Was nice seeing the weekly or so updates and it's been awhile. Can't wait to hear any improvements or new milestones reached!

Yes, working on expanding. Hiring. One way I was doing something was a total failure, had to fire an entire department that I hired for a hair brained scheme that only flopped. I had to let go 9 people.

That sucked, and set me back a little. Thought I could do something the easy way. but no. Now I might need to hire outside sales reps.. 100+ of them to cover the entire U.S.

Even with that, I am Still growing at a pretty good pace, and I am personally taking money out monthly, so that is a great thing.

Originally Posted by Runum

Thanks for posting an update Jack. I assume you hire good, talented people to do your jobs. Where are you finding the employees or contract labor that can fit your requirements?

I would think any start up would go through changes that would require different kinds of people at different stages of development?

I find my employees through the old reliable, craigslist and monster...

The worst is most people do no like change, so it is hard for them to believe something will work or sell in a different way.

As a start up, people must change (adapt) and they will tell you until you they are blue in the face.. I can change, but then they allways come in a month later and say, I can't sell this, It is cause you are changing us all around.