Hey guys,
A bit of background, I’ve read The Fastlane, Unscripted and finishing The Great Rat Race Escape . I also have the audibles and listen when I drive to reinforce the information. I’ve perused this forum for years although I haven’t really posted. My apologies if that bothers you.
I have a business I started over 8 years ago, I have a patent on a product new to the marketplace. My original goal was always to secure a patent and sell to big box stores. Life showed me that’s much easier said than done. After many mistakes and learning experiences, I decided to show proof of concept and began selling online. I have our sales on personal domain, Amazon and Walmart.com. We have been doing very well, for the last few years we have doubled our sales annually and grossed almost a million last year. We are also currently in negotiations with two huge national retailers and always searching for more.
The issue is starting late last year some Chinese copycats learned of our success and zero competition. They copied our design, made a few minor tweaks and began selling online, primarily on Amazon and have cut our prices by 50%. This has been very frustrating as it has started to affect our sales a couple months ago. My goal is STILL to sell in store and scale nationally and then possibly to central and South America but for the time being these infringing companies are really hurting us and we are just trying to stay profitable. By the way, we have a patent issued by the uspto and I spent a great amount of time battling with attorneys and Amazon’s legal team to no avail in regards to these infringing companies.
If anyone with experience in dealing with the matter of knock off competitors or China can share any advice I would greatly appreciate it. Thank you so much for reading through this!
Regards,
Salim
A bit of background, I’ve read The Fastlane, Unscripted and finishing The Great Rat Race Escape . I also have the audibles and listen when I drive to reinforce the information. I’ve perused this forum for years although I haven’t really posted. My apologies if that bothers you.
I have a business I started over 8 years ago, I have a patent on a product new to the marketplace. My original goal was always to secure a patent and sell to big box stores. Life showed me that’s much easier said than done. After many mistakes and learning experiences, I decided to show proof of concept and began selling online. I have our sales on personal domain, Amazon and Walmart.com. We have been doing very well, for the last few years we have doubled our sales annually and grossed almost a million last year. We are also currently in negotiations with two huge national retailers and always searching for more.
The issue is starting late last year some Chinese copycats learned of our success and zero competition. They copied our design, made a few minor tweaks and began selling online, primarily on Amazon and have cut our prices by 50%. This has been very frustrating as it has started to affect our sales a couple months ago. My goal is STILL to sell in store and scale nationally and then possibly to central and South America but for the time being these infringing companies are really hurting us and we are just trying to stay profitable. By the way, we have a patent issued by the uspto and I spent a great amount of time battling with attorneys and Amazon’s legal team to no avail in regards to these infringing companies.
If anyone with experience in dealing with the matter of knock off competitors or China can share any advice I would greatly appreciate it. Thank you so much for reading through this!
Regards,
Salim
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
