Business #3 - From Beginning To The End

[Martin Tale]

Business/Idea - Not sure what it's yet..
Like all of us we have million ideas on what to do. I have selected one that shows the most promise from early research and that's within my financial range. It's going to be an e-commerce venture focusing on just 1 main product that's bundled in few different ways. There is a chance that I'll switch it to another one or evolve it as I go if my market research turns out disappointing.

My Background
I have always gone in great length about this but I'm leaving it out this time as it in no way contribute to what I'm doing now.
My Intro: https://www.thefastlaneforum.com/community/threads/i-was-there-and-now-im-here-fastlane.64646/

Progress - 16 December

• Stopped full time reading of the forum (it's already evening);
• Started in depth research about the product and its market.

Thoughts
I think I made a mistake by already starting to contact suppliers from Alibaba.. Without even validating the idea for the product..

Progress - 17 December

• Continued the research, laws, regulations in Europe and the product itself;
• Decided on the brand name;
• Registered domain;
• Sketched and requested logo design;
• Created social media accounts:
  • for Facebook;
  • for Twitter;
  • for Pinterest;
  • for Google+;
• Found 3 interested designers/artists - have to choose one now;
• Made sketches of the product;
• Created an asset list I need to create for these accounts;

Thoughts

• I now have a much clearer picture with what I'm dealing here - which is good.
• Still confused of many aspects of product development but I'm working on that.
• Thinking whether I should create Instagram account for marketing purposes as well. Have to investigate this..

P.S. Thanks to inspiring @SinisterLex progress thread I decided to start my own.

 

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[Martin Tale]

Progress - 18 December

• Continued work with one of the artists - first 3d model sketches look very promising;
• Artist decide against creating a logo as he want to be more involved in 3d scene - outsourced it to Fiverr;
• Created Instagram account;
• Set up a basic website - need the logo to continue building some parts of it;
• Researched technologies involved in my product - lost focus and wasted a lot of time on unimportant but relevant information;
• Simplified my product.

Thoughts

• I need to create smaller actionable plan for each day so I don't lose focus on the important things;
• Need to start focusing on gaining social media traction/followers and experiment.

 

[Martin Tale]

Progress - 19 December

• 3d artist presented his first concept - looks great;
• Logo design came back from Fiverr - was very disappointed;
• Made the logo on my own - took much longer as I don't really work with design tools;
• Setup all social accounts with descriptions, images and covers that I created;
• Created a basic structure for the brand website and forum associated with it;
• Helped 2 people to not give up on their goals and that helped me to push forward;

Thoughts

• Thinking of giving a rebirth to my personal blog and use it for these daily updates as they are mainly for myself;
• If I go that route I'll be posting weekly updates here instead of daily ones - I think it will give more value to others;
• Going to start providing stats on traffic, money spent/earned etc;

Balance: -5