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Search results

  1. T

    How to measure # of referrals or K-factor in ecommerce business?

    MARKETING 
    My goal is to create a better product, but rather than rely on feedback saying "yes this is great!", I wanted a way to actually see that it's better (increasing the number of referrals per customer). For example, there's an ecommerce brand that does $200m+ per year and they say that each...
  2. T

    How to measure # of referrals or K-factor in ecommerce business?

    MARKETING 
    Is there no way to track new customers through google analytics? If you could attribute new customer acquisitions to channels (not just any transaction, including repeat purchase), you could compare this to the total number of customers (viewable in shopify) to get a k-factor. You can see new...
  3. T

    How to measure # of referrals or K-factor in ecommerce business?

    MARKETING 
    Rather than say you can't and disregard the metric completely, I'm sure there's a way you can measure it to some degree of accuracy. If software companies look at k-factor, why shouldn't an ecommerce store?
  4. T

    How to measure # of referrals or K-factor in ecommerce business?

    MARKETING 
    Would prefer a hard metric like a k-factor that can be measured and improved
  5. T

    How to measure # of referrals or K-factor in ecommerce business?

    MARKETING 
    Hey guys, So one of the main indicators of a productocracy is word-of-mouth. But how can you measure this on a shopify store or on Google Analytics? With repeat purchases and poor attribution on channels like Facebook ads, I'm struggling to find a way to measure and improve this. Anyone solve...
  6. T

    What does it take to start a protein bar company? (co-packer, FDA, etc?)

    What are the ways you can go about starting a protein bar company and the associated costs? I'm assuming 2 ways are: - Finding a co-packer - Making it yourself by renting a commercial kitchen? But what about FDA approval etc? And how much does a co-packer actually cost? E.g., formulation of...
  7. T

    How do you sell a product that ISN'T a commodity?

    With a service, it's easy to create a totally unique offer based around a customer's needs. But with a product, unless you have millions to spend on product development, I just can't seem to find a way to sell a product that isn't commoditized. I've managed to do $600k in sales this year with...
  8. T

    How often do you guys exercise?

    FTE HEALTH 
    Gym 4-6 times per week with cardio 1-3 times per week. In terms of working out, I’ve got everything in check. But nutrition is my major weakness.
  9. T

    $126,727 in PROFIT So Far This Month | eCommerce

    GOLD! HOT! 
    Great story and it's one I plan to experience myself. Similar to you, I did marketing and then ecom on the side. Anyways, that quote up there is my biggest problem right now. I haven't been able to get any product to be profitable during the first month. Do you think this is due to a poor...
  10. T

    Hiring an appointment setter?

    Does anyone have experience with hiring someone to cold call and set appointments? I’m terrible at cold calling so I’m looking to hire an appointment setter from the Phillipines. But with next to zero sales experience myself, I’d love to hear any advice you fast laners have :)
  11. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 64 - (23/08/2020) Have only worked ~10 hours per week (possibly even less). Haven't put in the time that I should have... But I'm happy with the progress and that's fine. Currently have ~300 users for one side of the marketplace. However, it's now time to take on the challenging part...
  12. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 47 - (06/08/2020) Launched the platform Sunday night and began acquiring users. Currently have 48 and growing around 20 per day. The current investments I've made are estimated to generate an additional ~200 users (but will continue to spend and increase acquisition speed). Now I'm working...
  13. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 5 - 19 (25/06/2020 - 09/07/2020) Summary: I haven’t posted an update in 2 weeks and that’s unacceptable. After working some more on that web design client I closed, I’ve realised that delivering services is NOT what I want to do. This has increased my motivation to build my platform...
  14. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 4 (24/06/2020): What I plan to do: Complete the tasks I set out for myself yesterday (complete skeleton of new client website) Problem: Spending too much time focusing on the small things. Need to get it over and done with ASAP. ------ Day End Summary: Completed the homepage, about us...
  15. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 3 (23/06/2020): It was really difficult, but today I spoke with my boss and made the shift from full-time work to part-time work. At first, the idea was to burn all ships and all-in on the business. But this is a step in the right direction. ------ Day End Summary: Very unproductive day...
  16. T

    Fake Entrepreneur Trying To Make Things Real

    INTRO 
    Thank you so much for reading :) Tune in again after a few months and see some massive execution ;)
  17. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Results were rather positive. Some valid points in regards to the drawbacks of going online only. But overall, I'm satisfied with the positive responses and I will move forward with the online only option. --- Day 2 (22/06/2020): Although I wanted to stop offering marketing services and...
  18. T

    Fake Entrepreneur Trying To Make Things Real

    INTRO 
    Exactly. Already made my mistake and this is my attempt to escape the fake business trap.
  19. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    Day 1 (21/06/2020): Started the day later than I should have. It’s 7pm and I’m only just getting started. I woke up late, prioritised going to the gym, and just napped for 40-minutes before dinner. I could give an excuse saying I’m exhausted after a stressful week of work – but I still did not...
  20. T

    From Wantrepreneur To Entrepreneur: A Journey To Defeat Shiny Object Syndrome

    EXECUTION 
    After spending 2.5 years jumping from one idea to another... The Fast Lane inspired me to get my shit together and resist shiny object syndrome for once in my life. My experience is in digital marketing and copywriting more specifically. Here's a long-a$$ thread where I tell my life story...
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