AMA: New Supplement Biz, Profitable in Month 1

[benhebert]

I'm sorry... why should he get in contact with you? Why must he prove to you 3 months of steady growth? Who are you?

Thanks MJ for standing up me there, it's an appreciated gesture.

We've been able to prove our business model and build our brand significantly since I last posted here.

I recently did an interview with Terry Lin of BuildMyOnlineStore.com where I talk about doing $100,000 in sales in three months at Natural Stacks.

Listen to the podcast here.

 

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[Phillipbro]

Congrats on doing 100k/3 months that is an inspiring accomplishment. Your site also looks great, what platform are you using?

 

[benhebert]

Congrats on doing 100k/3 months that is an inspiring accomplishment. Your site also looks great, what platform are you using?

Thanks mate. We're built on Shopify. We started with an out of the box theme and have worked with a front-end developer to make changes as necessary. There are a lot more things we're working to fix as well!

 

[Mbc]

Thanks MJ for standing up me there, it's an appreciated gesture.

We've been able to prove our business model and build our brand significantly since I last posted here.

I recently did an interview with Terry Lin of BuildMyOnlineStore.com where I talk about doing $100,000 in sales in three months at Natural Stacks.

Listen to the podcast here.

Wow that's with minimal ad spend still?
Did you have to get clinical trials done?

 

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[wilddog]

Thanks mate. We're built on Shopify. We started with an out of the box theme and have worked with a front-end developer to make changes as necessary. There are a lot more things we're working to fix as well!

How do you feel about Shopify's large transaction fees? $xx,000 with a 2.25% rate is a nice chunk of change.

 

[benhebert]

Wow that's with minimal ad spend still?
Did you have to get clinical trials done?

We're actually canceling our ad spend on Google + Facebook and focusing our resources (time + money) on creating valuable content for the community.

Our vision is to create actionable information that people can use to live more optimal lives.

How do you feel about Shopify's large transaction fees? $xx,000 with a 2.25% rate is a nice chunk of change.

That's assuming all of our transactions have gone through Shopify! That said 2.25% is pretty standard in credit card processing. We don't have to have a merchant account or deal with the amount of BS involved with operating one.

When I worked at GiftCardRescue.com as operations manager, we scaled that business to $2mm the second year I was there and a lot of the business ran through our merchant processor account. LORD OH LORD was it expensive and such a hassle.

Stripe is beautifully simple and amazing. So is Square. They take what Apple does best and iterate it within their own companies. Closed ecosystems and a flawless product.

Paypal also sucks.

 

[BKMoney]

Hey, congrats on your success.

Could you answer these 2 questions:

What other selling channels are you using?
How do you drive traffic to your site?

Thanks.

 

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[allthatjazz]

Awesome... congrats on the success!

My questions are...

#1 - How did you get into contact with the key people that help get your product popularized

#2 - What is in it for them to help you?

#3 - How did you keep control, not allowing them to take your idea and do it on their own?

Bonus: What was the most difficult thing you had to overcome in doing this, and what lesson will you remember from it?

 

[eqttrdr]

where are you selling your product? on your website or somewhere else?.. I havent seen it in stores.

is there a custom manufacturer of supplements you recommend or is this a private label?


thanks

 

[Shuffle]

Nice going man! I knew I recognized the supp from somewhere and it was cause I saw it on Dave Asprey's site. Best of luck to you and your future endeavors! I'll definitely be trying them out

 

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[benhebert]

Awesome... congrats on the success!

My questions are...

#1 - How did you get into contact with the key people that help get your product popularized

#2 - What is in it for them to help you?

#3 - How did you keep control, not allowing them to take your idea and do it on their own?

Bonus: What was the most difficult thing you had to overcome in doing this, and what lesson will you remember from it?

1. Reaching influencers is a skill that I'm still working on developing every single day. The basic premise is that we're all selfish and busy. You need to realize this and craft your offer so that it includes incentives and doesn't waste time. Nobody wants to hear your life story, pitch fast and realize you may only have the chance to pitch one.

2. Pay it forward. We're trying to do something incredible and they want to be part of the movement.

3. There's no such thing as control. We can only continue to evolve, iterate and push forward. If you focus on competitors and react defensively all of the time, you stifle innovation.

FAILURE TO INNOVATE = DEATH

Bonus: I withdrew my entire savings account in cash and deposited it into my business partners bank account. I remember holding the money and telling my girlfriend that if this didn't work out, she'd have to help me out for a month or two. That was pretty scary. Oh and I had never even met my business partner in person before.

 

[Bowden]

Man this thread is AWESOME

So you say it helps with memory, something I have trouble with after being thrown around by an IED.

Think it could help me out some?

 

[RyanC]

Oh and I had never even met my business partner in person before.

Risk pays off...sometimes. I am sure, it depends on the situation and you evaluated everything but I don't think, I could do this. Giving all my money to someone I don't know in person...I wouldn't even give him/her all my money if it was my best friend

 

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[Silverhawk851]

Congratulations! Killing it. Ramping to $100,000 in 3 months is a phenomenal thing to be able to say. What factors in your opinion have lead you to be able to do that so quick? Do you have previous experience in the space? How did you uncover the need?

Great thread, thanks for sharing. $Rep transferred.

 

[eqttrdr]

dont see the product sold anywhere but the website .. is that right?

 

[benhebert]

What factors in your opinion have lead you to be able to do that so quick?

Do you have previous experience in the space?

How did you uncover the need?

Great thread, thanks for sharing. $Rep transferred.

Since founding my music blog, I found that one of the major reasons it was / is so successful is that it capitalized on a trend. I always think of opportunities in terms of where the market is going, not what's working right now. That coupled with long-term strategy is usually the most successful option. We are the company there for where the market is moving.

I don't actually have any experience in the dietary supplement space. I despise 95% of the industry as most products are complete scams. This is motivation to fix, disrupt and make the right changes for the consumer.

Uncovering need is as simple as getting to know your market. Live where they live. Eat where they eat. Think how they think. Build the ideal product that solves their needs, overcomes hesitation and delivers incredible value.

 

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[Blue Lion]

Congrats on what you've achieved so far. I look forward to hearing more about your progress.

 

[BlokeInProgress]

This is motivation to fix, disrupt and make the right changes for the consumer.

You hit it spot on! Congratulations on your success! You said that most in the industry, their products are scams, may I ask how did you differentiate your product vs. theirs? Some would go hard on the pro's of their product, some would focus on the competition's negatives and some would combine. Which do you think is the best approach? I just like to get some ideas.

Thanks and more success!

 

[justbreathe]

Great AMA, thanks for sharing! I love the design and product showcasing. Did you hire a designer to do the photo edits of the actual product?

 

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[benhebert]

You hit it spot on! Congratulations on your success! You said that most in the industry, their products are scams, may I ask how did you differentiate your product vs. theirs? Some would go hard on the pro's of their product, some would focus on the competition's negatives and some would combine. Which do you think is the best approach? I just like to get some ideas.

Thanks and more success!

There's no value in trying to mimic or copy people. Innovate instead.

 

[benhebert]

You hit it spot on! Congratulations on your success! You said that most in the industry, their products are scams, may I ask how did you differentiate your product vs. theirs? Some would go hard on the pro's of their product, some would focus on the competition's negatives and some would combine. Which do you think is the best approach? I just like to get some ideas.

Thanks and more success!

There's no value in trying to mimic or copy people. Innovate instead.

Great AMA, thanks for sharing! I love the design and product showcasing. Did you hire a designer to do the photo edits of the actual product?

Design isn't just design. Design is everything.

You'll figure out very early that design is worth every penny.

 

[Berters]

Congrats! Love the look of the products, and the way you display the information and ingredients is definitely different and works for me! I'm interested in CILTEP already...never taken adderall or modafinil but would love the benefits!

 

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[CMG987]

Wasn't there any regulation or permission you needed to sell it?
I guess in Europe, especially Germany this product has to be teste by an independt organization in terms of longterm effects etc.

How did you solve this?

Best regards, Congrats btw

 

[snowbank]

We're actually canceling our ad spend on Google + Facebook and focusing our resources (time + money) on creating valuable content for the community.

Did you cancel because it was unprofitable, or you're canceling a profitable campaign?

 

[GravyBoat]

@benhebert I just ordered some Ciltep, will post results on what I think. Such a good idea, execution, learned a lot from this thread. Almost thinking about going with Shopify now, my checkout process was the most simple thing I've ever gone through.

 

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[eqttrdr]

how do you sell overseas? There are a ton of regulations that wont the product past customs in most countries

 

[CPisHere]

Awesome thread, thank you for sharing!

Where did you find your Shopify designer?

Aside from some forum posting and podcast appearances, have you done much SEO and/or Social Media?

From an 80/20 perspective, what have been the most important decisions you've made to get where you are? What have been the most important actions you've taken?

What strengths do you bring to the table vs your partner, in terms of why you are so effective together?

 

[MJ DeMarco]

Do you have liability insurance? (God I hope so.)

And if so, who is it through?

For anyone entertaining starting a supplement business, you cannot go without it.

 

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[benhebert]

Do you have liability insurance? (God I hope so.)

And if so, who is it through?

For anyone entertaining starting a supplement business, you cannot go without it.

Insurance was a top priority for us early on.

Right now we're investing heavily into setting up our corporate structure for protection and scale.

These two decisions are critical for taking your business to the next level.

Also...

I recently gave a presentation here in Vietnam to a bunch of entrepreneurs about growing from 0 to 100k in less than 100 days while being totally bootstrapped.

Video below -

 

[youngtrep]

Insurance was a top priority for us early on.

Right now we're investing heavily into setting up our corporate structure for protection and scale.

These two decisions are critical for taking your business to the next level.

Also...

I recently gave a presentation here in Vietnam to a bunch of entrepreneurs about growing from 0 to 100k in less than 100 days while being totally bootstrapped.

Video below -

Ben, awesome job on everything you have accomplished thus far. Digging a little more on the insurance aspect, did you purchase coverage beyond the protection afforded by your manufacturer? Even with 100k in revenue the quotes I have seen for dietary supplement insurance would be tough to afford.