The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

GOLD! Ask me anything about eCommerce (Ongoing)

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
7,887
37,064
5,083
Scottsdale, AZ
@biophase
I'm trying to build a product business starting with e-commerce then push into B&M stores. Do you have any recommendations any genuine sources of information for building a product businesses?

I'm currently learning from Ryan Moran.

It's a bit confusing, as he teaches you to focus on an audience instead of product, but I have observed plenty of successful product businesses start by innovating on the product side and attracting an audience as a result. ie. MoneyDoc BruMate, Native
I think it depends on the product you build. If you are building a simple knickknack, building an audience probably won’t work. But if you’re doing some thing like supplements, or anything that is very brand oriented you should build an audience first or at least at the same time.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

woken

Bronze Contributor
Read Rat-Race Escape!
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Mar 24, 2021
346
411
194
London, UK
I think it depends on the product you build. If you are building a simple knickknack, building an audience probably won’t work. But if you’re doing some thing like supplements, or anything that is very brand oriented you should build an audience first or at least at the same time.
I’m a bit stuck on this @biophase .

Apart from pictures of the stages you’re at with developing the product/ decisions taken, maybe polls, what on earth does one share?( for building an audience)

Then, when the product is manufactured and launched, all I see brands doing is photos of different angles of the product and backgrounds and some UGC( user generated content)

Is that all there is?
 

Dustinaitis

New Contributor
Read Millionaire Fastlane!
Read Unscripted!
Apr 8, 2018
13
6
20
I’m a bit stuck on this @biophase .

Apart from pictures of the stages you’re at with developing the product/ decisions taken, maybe polls, what on earth does one share?( for building an audience)

Then, when the product is manufactured and launched, all I see brands doing is photos of different angles of the product and backgrounds and some UGC( user generated content)

Is that all there is?

Apart from pictures of the product you could post famous quotes regarding your niche, memes, happy customer reviews etc. to build an audience. Just be creative ...
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
7,887
37,064
5,083
Scottsdale, AZ
I’m a bit stuck on this @biophase .

Apart from pictures of the stages you’re at with developing the product/ decisions taken, maybe polls, what on earth does one share?( for building an audience)

Then, when the product is manufactured and launched, all I see brands doing is photos of different angles of the product and backgrounds and some UGC( user generated content)

Is that all there is?

You build your audience on the solution that your product solves. Not the actual product.
 

Michael PS

New Contributor
Read Millionaire Fastlane!
Read Unscripted!
Sep 11, 2019
14
7
16
Germany
@biophase my stuck points in short: Built a high end fashion product (high price) and built an email list of 100 people. Having a landing page and a product page. My problems are:
1) have high conversion rate for leads (cost per lead ca. $25)
2) Just make a sell (even through my list I don't get to trigger the sell)

Do you have recommendations how to increase both points for an expensive product? Appreciate your time for that
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
7,887
37,064
5,083
Scottsdale, AZ
@biophase my stuck points in short: Built a high end fashion product (high price) and built an email list of 100 people. Having a landing page and a product page. My problems are:
1) have high conversion rate for leads (cost per lead ca. $25)
2) Just make a sell (even through my list I don't get to trigger the sell)

Do you have recommendations how to increase both points for an expensive product? Appreciate your time for that

Just curious, what is a high price for you?

Ok ask yourself, why does your product deserve to be a high price?

I can make a hand bag also. Why should yours sell for $5000 and mine sell for $50 only?
 

Michael PS

New Contributor
Read Millionaire Fastlane!
Read Unscripted!
Sep 11, 2019
14
7
16
Germany
Just curious, what is a high price for you?

Ok ask yourself, why does your product deserve to be a high price?

I can make a hand bag also. Why should yours sell for $5000 and mine sell for $50 only?
High price: $350, so compared to other products in this sector its above their price

High quality (Made in Italy), extraordinary customer service, no shipping costs, returns are free

These are the USP's. Want to establish a high quality brand and compete in high price. So I think somewhere MJ mentioned that price is also an indicator for something unique/quality/special. To compete in low prices is much more difficult and I don't want to go this way
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
7,887
37,064
5,083
Scottsdale, AZ
High price: $350, so compared to other products in this sector its above their price

High quality (Made in Italy), extraordinary customer service, no shipping costs, returns are free

These are the USP's. Want to establish a high quality brand and compete in high price. So I think somewhere MJ mentioned that price is also an indicator for something unique/quality/special. To compete in low prices is much more difficult and I don't want to go this way
You really just can’t price an item high because you want your brand to be a high priced brand.

The extraordinary customer service, no shipping costs, returns are free, is pretty much standard. I do this for my $15 product.

So just saying high quality also doesn’t mean much either. I mean maybe it’s better quality than your competitors, but is it $100 better quality?

I think it would be hard to argue that a LV bag is $3500 better in quality than a Coach bag. Is the material $1000 better? Is the stitching $500 better?

You are missing the reason people buy a brand.
 

MoneyDoc

Platinum Contributor
FASTLANE INSIDER
Speedway Pass
Jun 24, 2014
1,365
3,504
895
27
You really just can’t price an item high because you want your brand to be a high priced brand.

The extraordinary customer service, no shipping costs, returns are free, is pretty much standard. I do this for my $15 product.

So just saying high quality also doesn’t mean much either. I mean maybe it’s better quality than your competitors, but is it $100 better quality?

I think it would be hard to argue that a LV bag is $3500 better in quality than a Coach bag. Is the material $1000 better? Is the stitching $500 better?

You are missing the reason people buy a brand.
Agreed. This where amazon basics & amazon elements come in wiping out a lot of "higher priced" brands selling the exact same thing.
 

Michael PS

New Contributor
Read Millionaire Fastlane!
Read Unscripted!
Sep 11, 2019
14
7
16
Germany
You really just can’t price an item high because you want your brand to be a high priced brand.

The extraordinary customer service, no shipping costs, returns are free, is pretty much standard. I do this for my $15 product.

So just saying high quality also doesn’t mean much either. I mean maybe it’s better quality than your competitors, but is it $100 better quality?

I think it would be hard to argue that a LV bag is $3500 better in quality than a Coach bag. Is the material $1000 better? Is the stitching $500 better?

You are missing the reason people buy a brand.
So I guess you mean the reason people buy brands: The emotions and the identifications with a brand (status, enjoyment, lifestyle, etc....)
 

woken

Bronze Contributor
Read Rat-Race Escape!
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Mar 24, 2021
346
411
194
London, UK
So I guess you mean the reason people buy brands: The emotions and the identifications with a brand (status, enjoyment, lifestyle, etc....)
That and more obvious things like people liking the product.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Taktik

Aut viam inveniam aut faciam.
FASTLANE INSIDER
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Oct 15, 2018
118
83
129
Hello @biophase ,

I am just about to launch my first e-commerce brand. I know which products I will sell, I have a producer and now I just need to design a logo/product labels and build the online shop/website - then I am ready to go. I hope you can help me with two questions I've been asking myself more and more lately.

The first question is: should I use a fulfillment service right from the start to have the packages shipped? Or should I do it myself in the beginning?

I came across a quote from John D. Rockefeller in which he says that he operates on the principle that you should never do something yourself that someone else can do for you. This is not to say that I want to delegate everything, but I wonder if it's not a good idea to focus on your own strengths right from the get go and "outsource" the rest.
What do you think about that? Is this a good idea or would you rather start doing everything yourself until you know, that things are working out and you make money with the products?

The other question is about trade mark registration: Would you suggest registering your brand from the very beginning or should you first see if your products sell? (Note: I ask because trademark registration costs more than 1000 bucks where I live.)

Thanks.
 

woken

Bronze Contributor
Read Rat-Race Escape!
Read Millionaire Fastlane!
Read Unscripted!
Speedway Pass
Mar 24, 2021
346
411
194
London, UK
Hello @biophase ,

I am just about to launch my first e-commerce brand. I know which products I will sell, I have a producer and now I just need to design a logo/product labels and build the online shop/website - then I am ready to go. I hope you can help me with two questions I've been asking myself more and more lately.

The first question is: should I use a fulfillment service right from the start to have the packages shipped? Or should I do it myself in the beginning?

I came across a quote from John D. Rockefeller in which he says that he operates on the principle that you should never do something yourself that someone else can do for you. This is not to say that I want to delegate everything, but I wonder if it's not a good idea to focus on your own strengths right from the get go and "outsource" the rest.
What do you think about that? Is this a good idea or would you rather start doing everything yourself until you know, that things are working out and you make money with the products?

The other question is about trade mark registration: Would you suggest registering your brand from the very beginning or should you first see if your products sell? (Note: I ask because trademark registration costs more than 1000 bucks where I live.)

Thanks.
Both your questions are dependant on if your product will sell. Do you have pre orders? How big is your email list?
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
7,887
37,064
5,083
Scottsdale, AZ
Hello @biophase ,

I am just about to launch my first e-commerce brand. I know which products I will sell, I have a producer and now I just need to design a logo/product labels and build the online shop/website - then I am ready to go. I hope you can help me with two questions I've been asking myself more and more lately.

The first question is: should I use a fulfillment service right from the start to have the packages shipped? Or should I do it myself in the beginning?

I came across a quote from John D. Rockefeller in which he says that he operates on the principle that you should never do something yourself that someone else can do for you. This is not to say that I want to delegate everything, but I wonder if it's not a good idea to focus on your own strengths right from the get go and "outsource" the rest.
What do you think about that? Is this a good idea or would you rather start doing everything yourself until you know, that things are working out and you make money with the products?

The other question is about trade mark registration: Would you suggest registering your brand from the very beginning or should you first see if your products sell? (Note: I ask because trademark registration costs more than 1000 bucks where I live.)

Thanks.

As @woken mentioned, my first reply to you would be, how do you plan to sell your product.

Worrying about fulfillment and trademarks only matter if you can sell your product. With that said, I would self fulfill for a few months and register it only after you have a steady stream of sales.
 

Sponsored Offers

  • Sticky
MARKETPLACE  NEW: The Best School for Going Fastlane (50% Off Deal Now On)
Hi Rob, I've sent you a PM as I’m trying to join since midweek. Cheers
  • Sticky
MARKETPLACE  Freelance University: Solve Every Freelance Problem (Especially on Upwork)
FU. 4 DAYS. 50% OFF BLACK FRIDAY SALE! If you're an Upwork freelancer, you'd be a fool not to...
  • Sticky
MARKETPLACE  You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
One year ago, I was just your average software developer who always consumed content about...
  • Sticky
MARKETPLACE  For Sale: Food Brand with 4 Years of Happy Customers in a Fast-Growing Niche
So to get certified, it cost a fortune? How much exactly? That sucks that these "health...
MARKETPLACE  Fox Web School "Legend" Group Coaching Program 2021
Fox's Web School helps you learn a specialized skill which you can use to get to Fastlane. It's...
MARKETPLACE  Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...


Don't like ads? Remove them while supporting the forum. Subscribe.

New Topics

Fastlane Insiders

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

Join Fastlane Insiders.

Top Bottom