The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 90,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

8 Eyewear: From Idea, to Launch, to Growth (And Quitting the Job)

Idea threads

PeteLife

Silver Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
189%
Jul 5, 2011
284
538
BALTIMORE/DMV
ya maybe. I see what you guys mean. I don't think I'll have trouble with that. I guess time will tell.
do you feel the same in this case? > http://www.gloryfy.com/en/shades/11...&showProductGroup=1&sub=Sport&showOverview=ok

The G-series that you linked to isn't as off-putting as "V". V traditionally means "version", which usually instills that there is an upgrade of some sort. If customers are thinking that there is an upgrade, you're going to have a tough time selling V1 of anything. This is why almost everything is upgraded using the "V1.0 model" ... No one downgrades. This is just my opinion though and i am trying to speak as a consumer here.
 

Lathan

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
159%
May 24, 2013
353
563
so it jumps out at me and may not with other people.
I personally don't see how someone could not associate the V with version.


V1, V2, V3, V4, V5, V6, etc, are not versions. Its simply the naming method I wanted to use for the names of different models. Instead of giving them names like Fuel Cell, Batwolf, Gascan, Hijinx, Oil Rig, etc. I choose a more abstract approach. I thought it sounded kinda cool as well. And the letter V makes a great shape.
I think this is a cool idea in theory, but I honestly think 99% of people will think it means version 1, version 2, version 3, and so on.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
so what you guys are saying is if I have a lineup of V1, V2, V3, V4, V5, V6 etc.

people will only buy V6?
 

Lathan

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
159%
May 24, 2013
353
563
so what you guys are saying is if I have a lineup of V1, V2, V3, V4, V5, V6 etc.
Well I would like to think that people would buy based on their actual taste, but as mentioned earlier by @PeteLife, most people want the newest hottest thing. Just look at iPhones for example. As soon as the new one comes out, everyone jumps on it.

I associate the V with version (or volume) so I would immediately think V6 is the newest one. While I don't necessarily care about having the "newest best" product to look cool in front of my friends... I would still probably look at the V6 first only because I would assume since it is the latest model (in my mind) that it is improved in some way. Better quality, more comfortable, some awesome new technology etc.


Edit: to answer your question.... I do think there is a good possibility V6 would be your best seller. (Until V7 is released of course.) But then again... maybe not. I can only see it from my point of view. I personally, would get whatever pair I thought looked the coolest/most comfortable etc. But most people just buy to have the latest thing.

Edit 2: I say this as a guy who never goes shopping. Long story short, If I worked for you and I was in charge of naming the sunglasses, I would avoid the V1, V2, V3 etc.
 
Last edited:

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
V1 is already made
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
you guys bring up a valid point.

I'll have to dwell on this.

I'm sure a solution will present itself.

I could always just call the first model V.1 and name the rest whatever I want.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Lathan

Silver Contributor
Speedway Pass
User Power
Value/Post Ratio
159%
May 24, 2013
353
563
Since the V1 is already made it can just be your "classic/original" 8 eyewear sunglasses.

You could always have themes or something

Classic Glasses: V1

Dark Side Glasses: Vengeance, Immortal, Havoc

Light Side Glasses: Dreamer, Brightness, Determined


I know, cheesy names... just off the top.

But, you get the idea.
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
I'm just curious @MJ DeMarco, your thoughts on the above mentioned ^ about the naming convention V1, V2, V3, V4, etc. Maybe @zen*******, @Vigilante, @Kak, @biophase, @JasonR, can chime in too, would like to hear peoples opinions. and anyone else for that matter.

thanks
 

PopEmersen

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
67%
May 2, 2011
671
450
Atlanta, GA, US
people in the US associate V for version so I thought the V2's were the version 2's which meant upgraded. But from your post, that doesn't mean upgraded. What I would do is do what a post above said and use different letters i.e. G7, M9, RX15.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
447%
Jul 23, 2007
38,279
170,923
Utah
Examine what luxury brands do.

The Lamborghini Gallardo is a Gallardo ... not a V1.
The Murciealago is a Murciealago ... not a V2.

The numbers will imply version number, whether your like it or not. The "V" implies Version. (It did for me until I took the time to see otherwise.)

The numbers imply better quality, or better, the higher they go. V4 > V1.

Unless your goal is to have each successive model be more expensive, (v1 the cheapest, v6 the premium) I'd stick with naming conventions for each version. That way there is no connotation of a lower or higher model.

When you buy a home in a model home community, each house is named differently. They aren't numbered.

I'd also wouldn't be dabbling in another version.

Sales of your first version should be your number one priority, not 2nd or 3rd versions. If TMF sold 19 copies total, should I write another one to follow it? Sure think about more versions, but for the love of god, lets get some of these glasses moving, sold, and onto faces!!!
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
Thanks MJ and Pop! and the others who brought this up.

appreciate it.
 

throttleforward

Platinum Contributor
FASTLANE INSIDER
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
278%
Oct 30, 2009
1,193
3,315
Washington DC
but for the love of god, lets get some of these glasses moving, sold, and onto faces!!!

I was wondering where you were at with this @Vick - what's the next step? You're waiting on your production run to finish right?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
I was wondering where you were at with this @Vick - what's the next step? You're waiting on your production run to finish right?


yes. the molds were completed successfully about 2 weeks ago.

I get my 8 samples (1 of each color) in about 1-2 weeks time.

then once I approve the samples. my supplier is gonna pump them out. about 1.5 - 2 months for production.

so around end of June. hopefully.

little frustrated with the time its taken. but, there's not much I can do at this point.

other then be patient.
 

throttleforward

Platinum Contributor
FASTLANE INSIDER
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
278%
Oct 30, 2009
1,193
3,315
Washington DC
Just an online sales strategy to start, or have you locked up anything with B&M retailers (apologies if you covered this previously)?
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
yes. online to start.

But I'll be approaching retailers as well, when I get the samples in.

A few small businesses have already contacted me and reserved some orders.

Gold Rush Rally wanted me as well. but I couldn't afford there advertising. Maybe next year.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

mayana

Gold Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
120%
Apr 26, 2011
984
1,183
Georgia, USA
so what you guys are saying is if I have a lineup of V1, V2, V3, V4, V5, V6 etc.

people will only buy V6?

I think that it what the general consensus is... There is a chance that you could "educate" your customers that the V does not stand for "version", but why give yourself the extra hassle?

I guess I would also avoid "G" (could mean generation, or something).

This is probably why a lot of companies give their products those crazy names - numbers can give the impression that they are versions, and it's true that people always want the latest and greatest.
 

mentalic

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
72%
Nov 26, 2012
232
166
lol thanks.

before I go to production (molds) the design will be tested on Facebook first. by using ads. If the want is there. then I'll make the commitment. As I said though, this design will slightly morph over time, just as the V.1 did.

thanks again bud ;)
Although a little late, I am writing you about an experience I had in the past with an ecommerce shop and testing products.
1. I had setup an ecommerce website and throwed a bunch of products
2. I drove visitors there with adwords (not facebook). Adwords visitors are more in a mood to 'buy' than facebook visitors.
3. I checked with Google Analytics which products were clicked more. They were the ones that were ordered more.
4. If people were interested in a product they would email me and ask me when will that be available.

The two points are:
1. Mix stuff (different versions of products) together. Your numbers won't lie.
2. People that are on facebook and see your ads are at a completely different state than the ones that are actually looking for a product through google.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
Although a little late, I am writing you about an experience I had in the past with an ecommerce shop and testing products.
1. I had setup an ecommerce website and throwed a bunch of products
2. I drove visitors there with adwords (not facebook). Adwords visitors are more in a mood to 'buy' than facebook visitors.
3. I checked with Google Analytics which products were clicked more. They were the ones that were ordered more.
4. If people were interested in a product they would email me and ask me when will that be available.

The two points are:
1. Mix stuff (different versions of products) together. Your numbers won't lie.
2. People that are on facebook and see your ads are at a completely different state than the ones that are actually looking for a product through google.


Not sure what your trying to say. Just a little confused by your post.

Are you saying using Facebook for testing is not as good as Adwords?
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
Had a crazy Ad test today on Facebook. Tons of pre-orders and email signups, again this is just testing, who knows if they'll all open there wallet, but the majority of them seem to really want them. Anyway, decided to go with some weird Keyword Interests just for the hell of it. Turned out to be a really good Ad. Actually this was a Boosted post, from some pics I uploaded into an Album.

Boosted post is here, if your curious > https://www.facebook.com/media/set/...073741850.170902183100512&type=1&l=6407237fe5

FacebookADtest.jpg
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

DrkSide

Gold Contributor
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
219%
Mar 26, 2013
675
1,481
@Vick Can't wait to see the launch on these! Awesome progress Rep $$ sent your way.
 

eqttrdr

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
55%
Aug 25, 2013
369
204
Tons of pre-orders and email signups

wish you all the best..

how are you guessing your close rate? why not do a pre-sell page where people actually pay for the glasses upfront to see if there is actual interest?

thanks
 

Vick

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
485%
Dec 27, 2012
1,468
7,116
43
Toronto
wish you all the best..
how are you guessing your close rate? why not do a pre-sell page where people actually pay for the glasses upfront to see if there is actual interest?
thanks

Thanks bud ;)

I'm not taking paid pre-orders.

I made this decision a long time ago. And this is why....

No matter how hard I try to stay on schedule, something always comes up and F*cks it, like manufacturing/production issues for example. Stuff that's outta my control, for the most part.

If I started taking paid pre-orders 6 months ago, I would be getting emails every week/day from tons of people asking me, "dude, wheres my sunglasses?" then when I have to tell everyone there is a delay, I'll get even more emails, that are even nastier. Soon as you take peoples money, they will hound you until you deliver, which is understandable. I don't wanna deal with all that crap when I don't have to. I know there's a want and interest, I've reserved over $19,000 worth of orders, and built a pretty decent email list, by advertising $100 on Facebook every 2 weeks. Obviously they all won't commit, but a very large portion keep asking when there available, and telling me how they cant wait to have them. I also have some large B2B orders. Which brings me to the next thing.

I'm already starting to get pissy emails and messages from people who reserved over 5 months ago asking these questions, and they haven't even paid anything yet. Like one dude was actually angry, In my head I'm like WTF, why are you angry, you haven't even paid for anything, maybe he's tired of waiting, idk.

Anyway, I can just imagine what the emails and messages would be like, if I took peoples money 5 months ago. Not too mention the delays I keep having. People would be pissed, and I don't wanna deal with that crap and stress, if I don't have too.

Now. Unto my next thread update....
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Bigguns50

Platinum Contributor
FASTLANE INSIDER
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
199%
Feb 12, 2013
1,853
3,696
Sedona, AZ
Like one dude was actually angry
Maybe make this guy happy when the glasses arrive...more discount ? Free ? whatever.

Another delay ? Damn. Deep breaths.
Reason ? The guys with mold experience...do they say this many delays are unusual ? or part of the process.
Just concerned.
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top