$100k 2017

[sparechange]

Kinda kicked the sugar habit a bit, cut out the chocolate bars! Still a sucker for timbits though

 

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[sparechange]

Good for you man. You’re experiencing firsthand that it isn’t as simple as: launch store and watch the sales roll in.

You’ve already taken more action than most people and seem to be learning every step of the way. Branch out, asses, adjust and keep acting.

So close but so far it feels like

 

[sparechange]

Found a supplier that has a product similar to what I want (unique), product retails in Canada for 12 bucks and they want 4.85 USD which is $6.33 CAD( not even including shipping.... ) Actual production cost of the product is maybe 50c - $1?



geez....

Doing some tweaking for my site & FB ads. Tough month ahead boys & girls. Some small fixes that make my page look a million times better helps a lot with aesthetics

Would like to do a challenge for myself to sell off the rest of my inventory, got about 90 left so about 4 sales for the rest of the month a day, my highest has been 3 sales in a day I believe so lets get those numbers up.

Work hours are cut a little so I'm gonna have lots of time to tinker with things

1. Get 100++ Pre-Sales for my Jacket
2. Sell off the rest of my current inventory (90 units) where sales are hit & miss
3. Order sample for another product Ive had in my mind & Sell that aswell
4. Keep off the dam chocolate bars (past week or so haven't touched one)

Lets go!

 

[Xeon]

Hey, you're making sales!!!

 

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[sparechange]

Had a great laugh

View: https://www.youtube.com/watch?v=eVFd46qABi0




Retail price is like 7 or 8 usd ...

 

[sparechange]

Still no pre sales for my jacket

 

[sparechange]

Got one sale today of my own product, only 3 figures in sales so far which is pretty bad. Let’s get it all sold before the end of the month like stated before? Totally dreading my job tommorow lol

 

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[sparechange]

On break from work what misery , the job isn’t so bad itself but the people I work with...ahh I have night terrrors sometimes from being yelled at. Anyways no pre sales yet but have a couple ideas to go viral so I’ll try that and see what’s up.

 

[MTEE1985]

Anyways no pre sales yet but have a couple ideas to go viral

I absolutely love your enthusiasm. What is your budget for your ads? Spending $2-$3 a day is just going to be a painful experience.

Do you have the budget to up it to $40-$50 for a few days to see what kind of traction you get?

 

[sparechange]

I absolutely love your enthusiasm. What is your budget for your ads? Spending $2-$3 a day is just going to be a painful experience.

Do you have the budget to up it to $40-$50 for a few days to see what kind of traction you get?

I can spend more although I'm not sure if its optimal, my overall thinking is to start small + slowly increase budget, do you think I should go for the hail mary play and go long?

 

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[MTEE1985]

I can spend more although I'm not sure if its optimal, my overall thinking is to start small + slowly increase budget, do you think I should go for the hail mary play and go long?

Based on the screenshots you are sharing you are generating 4-5 visitors to your site a day from the ads. To have a good sample set and get some useful metrics like conversion rates you’d want to wait until at least a few hundred, or ideally a thousand visits.

I wouldn’t advocate throwing the whole budget at it in one shot but at your current pace it will take 3 months to know reach those numbers. Just going to $10/day would cut that down to 1 month at which point you would either have more sales or would know you need to adjust.

 

[sparechange]

Based on the screenshots you are sharing you are generating 4-5 visitors to your site a day from the ads. To have a good sample set and get some useful metrics like conversion rates you’d want to wait until at least a few hundred, or ideally a thousand visits.

I wouldn’t advocate throwing the whole budget at it in one shot but at your current pace it will take 3 months to know reach those numbers. Just going to $10/day would cut that down to 1 month at which point you would either have more sales or would know you need to adjust.

Ill up my ad budget a bit for the next one I run, post results later. See what happens

 

[MTEE1985]

Thanks for the rep!

Please do let us know. The way I look at it, you can either get your 500th visitor in ten days or wait 100, may as well get that feedback ASAP.

 

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[sparechange]

Slept in today super late and woke up feeling like ***** for the fact that I slept in.

Then go to start the day and see this which made me feel even worse... #deardiary

I saw a quote from a poster somewhere on the thread, ''Discipline yourself or the world will do it for you''

My job is literally killing me mentally beside I feel like I'm a stones throw away from quitting if I just get a product sold on a mass scale, right now I'm just doing pocket change sales which doesn't change my lifestyle at all.






Believe I'm due for a re-read of Unscripted

As said before I'll increase budget for my next ad & work on it with better pictures etc (gonna give influencer marketing a go)

Only 1 sale in for August of my own product
Gross revenue in the 3 figure range

 

[sparechange]

For the Jacket presale (total numbers)

 

[Merging Left]

I've got a question for you and then a bigger-picture perspective for you to (hopefully) help slow things down.

So my question: what's your day job? If it's not too personal, how much are you being paid?

Now, it looks like your current product might be a bit of a dud. Like it's been pointed out, you don't quite have enough data to draw the conclusion yet, but you definitely haven't seen the explosive sales you were hoping for. Damn. It happened to me and it's soul-crushing. I get it.

But, look at it this way. How much time do you spend on this each day? Rather, if you weren't obsessing over it (totally understandable), how much time would you need to spend on it each day? If you had your ads in place, etc. 10-15 minutes, max?

So let's assume you need to spend 10 minutes per day just reviewing your ad performance and sales. Let's assume you're making a measly 5 sales per month. You pretty much have 5 sales coming in every month on autopilot now. It's not life-changing at all, but it's greater than $0.

What happens if you repeat this process for 10 more products, all of which "fail"? Now you're looking at an aggregate of 55 sales/month, which is just under 2/day. And if you're spending 10 minutes on each, you're looking at a bit under 2 hours/day. What does that do for your life? Can you quit your job, based on your current profits?

As long as your products are breaking even, there's no harm in continuing to grow your portfolio. I know you're negotiating on your second product, and that's awesome. That's what you need to do. Once you're up to 5-10, you can start to look at what's working and what isn't. You'll likely have found a minor or moderately successful product by then and can look into cutting back on one of the less exciting ones.

tl;dr: Your current action IS producing results. They're not the results you were hoping for, but if you do this exact same thing 10 more times, you just might be where you want to be... keep it up, man.

 

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[sparechange]

I've got a question for you and then a bigger-picture perspective for you to (hopefully) help slow things down.

So my question: what's your day job? If it's not too personal, how much are you being paid?

Now, it looks like your current product might be a bit of a dud. Like it's been pointed out, you don't quite have enough data to draw the conclusion yet, but you definitely haven't seen the explosive sales you were hoping for. Damn. It happened to me and it's soul-crushing. I get it.

But, look at it this way. How much time do you spend on this each day? Rather, if you weren't obsessing over it (totally understandable), how much time would you need to spend on it each day? If you had your ads in place, etc. 10-15 minutes, max?

So let's assume you need to spend 10 minutes per day just reviewing your ad performance and sales. Let's assume you're making a measly 5 sales per month. You pretty much have 5 sales coming in every month on autopilot now. It's not life-changing at all, but it's greater than $0.

What happens if you repeat this process for 10 more products, all of which "fail"? Now you're looking at an aggregate of 55 sales/month, which is just under 2/day. And if you're spending 10 minutes on each, you're looking at a bit under 2 hours/day. What does that do for your life? Can you quit your job, based on your current profits?

As long as your products are breaking even, there's no harm in continuing to grow your portfolio. I know you're negotiating on your second product, and that's awesome. That's what you need to do. Once you're up to 5-10, you can start to look at what's working and what isn't. You'll likely have found a minor or moderately successful product by then and can look into cutting back on one of the less exciting ones.

tl;dr: Your current action IS producing results. They're not the results you were hoping for, but if you do this exact same thing 10 more times, you just might be where you want to be... keep it up, man.

I work in a restaurant for minium wage now ($13.60 in Canada/Alberta, Calgary) which is literally the worst job that I've had, well the job isn't bad itself but for some reason the management is unbelievably bad & rude. Being yelled at & degraded is lots of fun + angry customers. Think were getting $15 in the upcoming fall? Was super difficult to find work when I got to Calgary from Vancouver and had to settle for this dead end. End of the day I get to eat.

Maybe do a couple hours of posting on fb/insta + some ad work & listing products. Wouldn't say its to much, I feel as if I could do more. Mark Cuban always pops up in my head about his phrase saying someone is out there working 24/7 to kick your a$$.

My bare bones minium living expenses here would be about $7-800 a month, rent/food. Current profit per unit is $7.33 which is 100ish sales per month. The thought of sleeping in every day and not having to beg and dance like a monkey for a paycheck seems awesome, or at least have the ability to just find some other job (which I'll do for this upcoming fall, planning on moving a bit closer to banff)

Would love to give a couple back hand slaps to my bosses, unfortunately that would give me a criminal record so I'll need to resist the temptation...lol

 

[sparechange]

Product (rain jackets) could be a problem, considering the analogy by MJ of selling $100's for $50?

 

[sparechange]

View: https://www.youtube.com/watch?v=4vkRIp86W9c


@Xeon Hows the entrepreneur life? Models and bottles?

 

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[Xeon]

Product (rain jackets) could be a problem, considering the analogy by MJ of selling $100's for $50?

Just wondering....but does your rain jacket stand out from the rest of the competition enough? Would a customer want to buy your jackets over others?

Also, regarding the day job, would it be possible for you to find a entry-level deskbound admin/clerical type of job? The issue with service jobs like waiters is that it takes too much of energy and in your case (and my case previously) emotional toll, leaving you with less energy for your Fastlane biz.

With a clerical job, the work gets extremely predictable after the first couple months, and once you can systemize the work (since it's mostly repetitive), you can finish the work fast and use the office pc to work on your hustle / read+learn from this forum and articles, ebooks etc. This is useful especially if your hustle is e-commerce based. It's not glamorous and you'll likely be under the charge of some naggy old lady but it's still better than being a waiter though.

 

[Xeon]

View: https://www.youtube.com/watch?v=4vkRIp86W9c


@Xeon Hows the entrepreneur life? Models and bottles?

Still hustling lol. I would love more, pools, bottles and parties one day. Is that a pic of you in the blue Lambo shot above?

 

[sparechange]

Still hustling lol. I would love more, pools, bottles and parties one day. Is that a pic of you in the blue Lambo shot above?

lol no not me, just some crazy guy with his buddy (behind a dumpster you cant see)

ying and yang

 

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[sparechange]

Just wondering....but does your rain jacket stand out from the rest of the competition enough? Would a customer want to buy your jackets over others?

Also, regarding the day job, would it be possible for you to find a entry-level deskbound admin/clerical type of job? The issue with service jobs like waiters is that it takes too much of energy and in your case (and my case previously) emotional toll, leaving you with less energy for your Fastlane biz.

With a clerical job, the work gets extremely predictable after the first couple months, and once you can systemize the work (since it's mostly repetitive), you can finish the work fast and use the office pc to work on your hustle / read+learn from this forum and articles, ebooks etc. This is useful especially if your hustle is e-commerce based. It's not glamorous and you'll likely be under the charge of some naggy old lady but it's still better than being a waiter though.

Not sure how I missed this post!?

I'll be quitting in the coming Oct/November (planning on moving *again* just a little bit closer to Banff) Banff is a Ski resort area so ideally if i can find some job up there preferably a ski/snowboard position that is the most optimal situation for me, besides making a decent 5 figure lump sum amount and just forgetting about any job.

You are right, my current job is taking its toll on me mentally but I have to just suck it up, everyone is so ****** miserable at work, negative energy's are EXTREMELY contagious... Its stopped now but previously I have woken up in the middle of the night in terror thinking I'm late for work or am thinking of food sequences & patterns (I cook alot/make food)

 

[sparechange]

2 sales in so far for the month, just finished delivery now. 0 pre sales (ad expired today).

 

[Xeon]

Not sure how I missed this post!?

I'll be quitting in the coming Oct/November (planning on moving *again* just a little bit closer to Banff) Banff is a Ski resort area so ideally if i can find some job up there preferably a ski/snowboard position that is the most optimal situation for me, besides making a decent 5 figure lump sum amount and just forgetting about any job.

You are right, my current job is taking its toll on me mentally but I have to just suck it up, everyone is so ****** miserable at work, negative energy's are EXTREMELY contagious... Its stopped now but previously I have woken up in the middle of the night in terror thinking I'm late for work or am thinking of food sequences & patterns (I cook alot/make food)

Btw, I tagged you in Vick's 8eyewear thread whereby he said he's looking for some staff in Canada. Have you seen it? If yes, you should give it a shot IMO.

 

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[sparechange]

Btw, I tagged you in Vick's 8eyewear thread whereby he said he's looking for some staff in Canada. Have you seen it? If yes, you should give it a shot IMO.

Eye dont see it??? :S

 

[Merging Left]

Eye dont see it??? :S

I think that's an INSIDERS's thread.

 

[Xeon]

I think that's an INSIDERS's thread.

Oops! @sparechange , check your PM.

 

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[sparechange]

got it, opposite side of Canada tho D:

 

[sparechange]

Oh **** found a product I really like, gonna try to see if i can get my hands on it for a good price. Its been an idea of mine for a while and see some people have made it and totally failed the execution of the product. See what happens with this.

Also looking into food now aswell.