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  1. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Thank you. I appreciate that you’ve taken the time to offer me advice. Means a lot!
  2. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Yes I made a purchase from them last year. I know all about their email sequence and follow ups. Regarding the ad spend. I met someone on a Facebook ads group who actually works for Facebook. He offered to take a look at my account whilst in work. A few days later when we’re discussing it and...
  3. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    They don’t sell other things and promote the fact that their products are only available via their website. They do google ads also and influencer marketing.
  4. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I’m not selling batteries anymore! And I only ever tried to sell them for a short period of my twenty year story so I think you may be getting your wires crossed somewhere. I sold power adapters for the majority of my time alongside a computer repair shop but also tried other similar niches. I...
  5. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    It’s not possible to validate the design without actually launching the products. I’ve had great feedback about the designs since launching however. The design is more of a personal preference rather than product differentiator. For example what I think is a nice pair of shorts you may...
  6. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Yes the pattern is clear. My product is off different design and I’ve also added a matching accessory included in price. I know the exact cost my competitor is paying for their products as I have spoken to their actual factory in China. They couldn’t provide me with the specifications I...
  7. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    They launched 3 years ago now so unless they're playing a really long game using VC money they must be making a profit if spending $80k a month on Facebook ads.
  8. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Thanks for your reply and kind advice. For my new product, I have priced it at the higher end of the market and only have 1 competitor at the price point. They are doing extremely well.
  9. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I got the same anxiety feelings reading your post and the circumstances as I do when I think about the situation I'm in. I can certainly identify. Thanks for your kind words and I hope things work out for you also.
  10. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    CVA is applicable for dealing with debts and keeping the company going. It doesn't apply in my instance because I've already placed the old company into liquidation.
  11. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Thanks for your advice. Completely understand where you're coming from regarding Facebook ads becoming the new ebay or Amazon store with no control. I'm actively trying to build assets for the brand, email lists, facebook fans (although not worth much financially), instagram followers, facebook...
  12. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Yes, I've looked into IVA, it's similar to negotiating myself with the creditors. You can't be a Director of a Limited company for 12 months after filing for bankruptcy.
  13. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I've spoken to numerous people about my options. The three options I have are 1. file for bankruptcy (which is complicated somewhat by the fact I'm the Director of a company) and I'd have to step down. 2. Try and pay off the debts in full or 3. negotiate a settlement with the creditors. At the...
  14. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Thank you. Much appreciated. I will take you up on that offer at some point in the future!
  15. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I've always thought that I could get through anything and that I was strong-willed and confident. However I've really struggled mentally with the situation and level of debt I have. I've felt like a complete failure. I've let my Wife down, my children, my parents and also myself. I've had...
  16. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    My new company couldn't afford to keep up repayments on the loans and they got called in. Fast forward to now and I've just sold my power adapter eBay brand and put everything I've got into a new e-commerce brand. I love everything about it. I love the niche, I love the products, I love...
  17. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I had some power adapters that were selling well with Amazon FBA, so I decided to borrow more money (I was still heavily into my HSBC overdraft) from a peer to peer lending group to buy more power adapters and sell them in Europe via Amazon and USA. Over the course of 18 months, I stupidly...
  18. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Next idea was Amazon FBA and i was still running my power adapter eBay business at the time. I bought a course for for Amazon FBA for £4000 and started to look for things to sell. Initially I struggled with the notion of selling random things as I'd always wanted to build something big that...
  19. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    I eventually did nothing with whichlaptop.co.uk website or the website for buying laptops for people and let the domain expire. I run the computer repair shop until 2016 alongside my eBay business and by that time I'd had enough of the repair shop. Profits were down as people hardly had laptops...
  20. Paul David

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Anyway, I then came across a company in Scotland who had 5 computer repair shops (they were actually buying laptop adapters from me). So I drove 4 hours to Scotland to see what sort of set up they had. I drove back a couple of hours later and I had decided I wanted to have more repair shops...

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