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I will be very straightforward. Feel free to post feedbacks and questions. Updates every sunday no matter what.
Context: Fits all of CENTS but E (low entry barrier). Margins are good. Worst case is acceptable, best case is awesome. I'm creating this company with my wife (she used to sell Jewelry in person, she knows how to sell, the product and she is a client herself). She is 100% in this business. I'm working at a e-commerce optimization company with AI.
(1) Goal Rational
- There are lot's of stores that are not that different and don't have many value skews and they sell a lot. Go to market is probably more important than product. However, I wanna do something trully different and great. The branding is being made with attention and details and we chose good value skews. We also did interview with 50 women (previous customers and random women)
- My wife know a lot about the market. It's easier to create branding and choose products because of that
(3) What's bad and what I will do to improve it
- Branding agency not expensive, they are good, but they are slow. Veeeeeery slow. Will align a final date for the project
- Working with my wife is good and bad. Good because she knows a lot. Bad because she is sensible. She is getting tougher and I am improving my communication
It's about how hard you can get hit and keep moving forward. Keep pushing
Context: Fits all of CENTS but E (low entry barrier). Margins are good. Worst case is acceptable, best case is awesome. I'm creating this company with my wife (she used to sell Jewelry in person, she knows how to sell, the product and she is a client herself). She is 100% in this business. I'm working at a e-commerce optimization company with AI.
(1) Goal Rational
- 10 Year goal: have a profitable business that is lucrative and I can sell for at least a couple million dollars
- 5 year goal: $20k dollars montly profits with low management effort. And most importantly, mechanisms of growth understood
- 2025 goal: have a lucrative business. Revenue > costs
- 2025 Jan Goals:
- (1) Finish branding. We already have the story telling, name and value skews chosen. We have to finish colours, font and packaging
- (2) Buy the initial collection. We already have 3-4 suppliers for the material and 1 supplier chosen for the coating
- (3) Create shopify (or similar) store
- And then:
- Create professional photos of the products
- Spend 2000 dollars on advertising. Will test copy and website
- Check volume, ACV and conversions of the funnel. Tweak things and test again. Do it until metrics are good (probably 2-3% end to end conversion). At the same time, my wife will create organic content and start selling to her old customers
- Spend more money with influencers and ads
- Week goals
- (1) Create a colour, fonts and packaging proposal for the agency (we are working with a branding agency)
- (2) Create sheets with pros, cons and prices of influencers, photographers and models
- (3) Register name
- (4) Align a final date for the branding process with the agency
- There are lot's of stores that are not that different and don't have many value skews and they sell a lot. Go to market is probably more important than product. However, I wanna do something trully different and great. The branding is being made with attention and details and we chose good value skews. We also did interview with 50 women (previous customers and random women)
- My wife know a lot about the market. It's easier to create branding and choose products because of that
(3) What's bad and what I will do to improve it
- Branding agency not expensive, they are good, but they are slow. Veeeeeery slow. Will align a final date for the project
- Working with my wife is good and bad. Good because she knows a lot. Bad because she is sensible. She is getting tougher and I am improving my communication
It's about how hard you can get hit and keep moving forward. Keep pushing
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