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I've been a long time member of the forum. I joined a few years ago with a "wantrepreneur" mindset, and have only recently gotten serious about my planning and goals. I want to start with a brief background (in case anyone is even interested.
I'm <25 years old living in Manhattan, NYC. I work in an M&A position that I worked my a$$ off to get into since I didn't go to a top university, and now want nothing more than to escape. Positively, working in this role, I've gained a ton of amazing business experience/mental endurance that you can only get in M&A. Negatively, I work 60-100 hours every week and am on call for managing directors and clients most of the time.
To make a long (and simple) story short, my goal is to build a business that the market really wants that will ultimately allow me to escape the grind, and more importantly, answering to other people.
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I know what niche I'm looking to go into. I believe the market is there and big enough given keyword volume/current businesses selling in the market, but it is also far from oversaturated and commoditized. I'm looking to use Amazon as my first distribution channel (and as a means to test the market)and go from there.
I know the ingredients I want in my ideal product, but have only found one manufacturer that makes this at low quantity, and they also do not sign clients on as additional insured to their policy which is a requirement for me at this stage. It has unusual ingredients that are not that easy to find among private label formulas.
So far I've made extremely small strides, I've filed for my LLC, since I believe it is needed for this type of product, and have ~2 weeks for that to be complete.
In those two weeks I have a few things I want to accomplish:
Hope to use this progress thread as a means to stay accountable, document the process in general, gain insight from experts on this forum. Appreciate anyone who is interested enough to follow!
Lastly - anyone in NYC, let me know!
I'm <25 years old living in Manhattan, NYC. I work in an M&A position that I worked my a$$ off to get into since I didn't go to a top university, and now want nothing more than to escape. Positively, working in this role, I've gained a ton of amazing business experience/mental endurance that you can only get in M&A. Negatively, I work 60-100 hours every week and am on call for managing directors and clients most of the time.
To make a long (and simple) story short, my goal is to build a business that the market really wants that will ultimately allow me to escape the grind, and more importantly, answering to other people.
------
I know what niche I'm looking to go into. I believe the market is there and big enough given keyword volume/current businesses selling in the market, but it is also far from oversaturated and commoditized. I'm looking to use Amazon as my first distribution channel (and as a means to test the market)and go from there.
I know the ingredients I want in my ideal product, but have only found one manufacturer that makes this at low quantity, and they also do not sign clients on as additional insured to their policy which is a requirement for me at this stage. It has unusual ingredients that are not that easy to find among private label formulas.
So far I've made extremely small strides, I've filed for my LLC, since I believe it is needed for this type of product, and have ~2 weeks for that to be complete.
In those two weeks I have a few things I want to accomplish:
- Manufactuer - Find the manufacturer that I'm going to go with that meets my criteria
- Can make my product with most of the ingredients in the delivery method i want
- Will put me as additional insured on their policy
- Can execute relative low MOQ at first for testing purposes
- Pricing favorable to what I'll be selling at on Amazon to make sufficient margin
- PLUS: would be labeling services to put my labels on the bottles
- Branding - determine logo/brand message - I will probably use fiverr or 99designs for a logo
- Label design for first product
- Come up with name for first product
- Determine key benefit points I want to be brought forward
- Will probably use 99designs for the label
Hope to use this progress thread as a means to stay accountable, document the process in general, gain insight from experts on this forum. Appreciate anyone who is interested enough to follow!
Lastly - anyone in NYC, let me know!
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