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  1. Walter Hay

    From an 8-figure e-commerce business to $280k in debt. What to do now?

    GOLD! HOT! MINDSET 
    Although I have been very successful in two businesses that I built into international operations it was not always plain sailing. Early in my time as a business operator manufacturing and selling specialty industrial chemicals, I got used to repeat orders coming in more or less...
  2. Walter Hay

    From an 8-figure e-commerce business to $280k in debt. What to do now?

    GOLD! HOT! MINDSET 
    Thanks for the heads up. Importing can provide much of what is missing in the "system", provided you don't follow the crowd and source on Alibaba and similar sites. It can get you out of the "me too" crowd. It can help you find products that have never previously been imported into the USA...
  3. Walter Hay

    I sold lollipops in Grade 4, what did you sell?

    HOT! SIDE HUSTLE 
    This is a GREAT thread that fits the Fastlane concept very well. I loved seeing how many members were hustling at an early age. It strongly suggests that entrepreneurs are born - not taught. Some babies learn very early in life to get their kicks out of making parents bend down to pick up and...
  4. Walter Hay

    How Do You Manage All Your Invoices?

    QUESTION 
    I have assisted many small business operators deal with their failures, and in the case of trades people in particular a common factor always appeared: They were slack in sending out invoices for the work they had done, and even those who had sent out invoices failed to do any follow up to...
  5. Walter Hay

    How to fix poor attention to detail and focus?

    HOT! MINDSET 
    Ever heard the saying: "Familiarity breeds contempt"? This is a very real problem in the website building and copywriting industries. When viewing websites I frequently see evidence of this contempt for common sense editing procedures. When someone has prepared a document he/she already...
  6. Walter Hay

    Is Amazon FBA dead in 2022 for starting a business?

    HOT! QUESTION 
    Both of these quotes suggest getting into a highly competitive market with products that are ordinary, and this requires exceptionally good marketing skills. If someone really wants to sell on Amazon it is far better to source products that have never before been imported to the US. It can be...
  7. Walter Hay

    I've come. I've seen. Now it's time to conquer.

    INTRO 
    Expansion by franchising is far better than employing managers. I suggest you have a look at my thread: Rapid Scaling a business by franchising Walter
  8. Walter Hay

    How To Become Articulate In Writing and Presenting Ideas

    QUESTION 
    I should have added another life experience that was a huge help in enabling me to confidently communicate. In high school I was a member of the school drama club, and acted on stage a number of times. We put on high quality productions in an auditorium seating 2,500 people, and we had to...
  9. Walter Hay

    When I grow up, I want to sell deodorant, razors, and heating pads.

    GOLD! IDEA 
    These businesses- deodorant and shaving equipment, are nearly as good as B2B, because they involve predictable repeat orders. Walter
  10. Walter Hay

    Building a Following and Developing Relationships on Twitter

    HOT! MARKETING 
    Elon Musk's reputation as a business builder is encouraging, but I would be concerned that sometimes he is like a loose cannon, and might change direction very suddenly. Should that happen, a lot of work put into building a presence on Twitter could vanish. Walter
  11. Walter Hay

    How To Become Articulate In Writing and Presenting Ideas

    QUESTION 
    I will address this question from the perspective of learning. Communication begins with knowledge. If you don't know your subject, your communication will be inadequate. Here's my personal account of being educated and learning to communicate: As a young boy I spent months in hospital. I had...
  12. Walter Hay

    Is Amazon FBA dead in 2022 for starting a business?

    HOT! QUESTION 
    I expect that the course referred to in the helpful post by @david1024 would be the PROVEN AMAZON COURSE that has been functioning for about 17 or 18 years and is constantly updated. Full Disclosure: That is an affiliate link which gives me a small compensation because if you buy via that link...
  13. Walter Hay

    Perfection vs Execution - Where is the line?

    EXECUTION QUESTION 
    Once a system is developed to the point that it works effectively for every person involved in operating under that system it must be formalized as an instruction manual, or as it is known in franchising, an Operations Manual. My daughter has inherited my mind set that dictates that I (and now...
  14. Walter Hay

    7 months and $5 in profit

    INTRO 
    @ 2dads Your post offers bad advice. The business model you describe is vaguely like a real Import/Export agency, but it has a fatal flaw: It requires the outlay of a lot of $$$ for buying and importing inventory. Here is the opening statement I make in my sourcing and importing book dealing...
  15. Walter Hay

    Import/Export to India

    SOURCING 
    The business model you are considering is quite unusual, but it looks to me as though it would work. I hope so for your sake. Walter
  16. Walter Hay

    Import/Export to India

    SOURCING 
    1. Corruption is definitely not limited to government officials. As @Kubera said: "there are people who wouldn't think twice before trying to scam you, just cos you're a foreigner." As a buyer I became very wary of that from experience, as did my brother in law who would not pay for his...
  17. Walter Hay

    Import/Export to India

    SOURCING 
    You have been getting close to the right solution, but you need to understand how agencies, distributorships, and genuine import/export broker businesses work. Here is a quote from Chapter 5. IMPORT/EXPORT BROKER BUSINESS COURSE of my sourcing and importing book: (See my Marketplace offer for...
  18. Walter Hay

    Import/Export to India

    SOURCING 
    This is very true. I have dealt with Indian companies as both a buyer and a seller. The amount of corruption I encountered when trying to export my industrial chemicals to India was so bad that I gave up. I am not a person who gives up - it's not in my genes, but India was an exception. Walter
  19. Walter Hay

    Amazon Rate Increase

    MARKETING 
    They don't call it that of course, but it's only a "fuel and Inflation surcharge". At 5% as of 28th of April, FBA vendors on Amazon will see it for what it is, a fee increase. Coupled with Amazon's very successful greedy efforts to increase the numbers of vendors by the thousands, the platform...
  20. Walter Hay

    Sharing my lifetime experience in export/import. Product sourcing specialist.

    GOLD! SOURCING 
    Here is a short extract from a lengthy review in 2017 on RipoffReport.com: "Once China Freight Co. Limited gets hold of your products you will be lucky to see them again. AS THEY ARE THIEVES AND LIARS AND FRAUDS THAT STEAL YOUR GOODS AND MONEY." A major problem in regard to reviews of Chinese...

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