The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Cold Feet Before ReLaunching Business

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
Hello all,

I've gotten some great help on here for the past few years and I've learned a lot. A few months back I posted about how my business wasn't making sales and I got some good feedback.

My business is/was a home gym product that was somewhat portable. It solved the need of people needing to workout without having the time or knowledge to do so (I provided that with my product + a book + instructional videos).

I looked at all of the flaws of my business, and realized I needed to do somethings differently. I.e. I changed the name, I changed which niche population I will be targeting, and the actual physical product (the product I was selling was costing a lot, it was too heavy and not that portable, AND a few other companies sold it already).

Now that I have changed somethings and reexamined my strengths and weaknesses I am at the point where I am ready to buy a supply of NEW product. My cold feet however comes in right now before placing this order as I don't want to end up like I did months ago with a whole supply of unsold inventory. The reason for my fear/hesitation is that when I asked a friend what he thinks about my product (well a few friends), they ask how I'm going to be different than other companies. And I ask myself that question too. There are a bunch of other companies selling a similar product/service than I am . With a lot of competition out there in a saturated market (fitness), I question whether or not primarily marketing my product towards a unique demographic is enough of a difference.

My business is essentially a system (in the form of book, and videos) for working out at home or on the go, with a box of exercise "goodies" that customers use with the system. A simple search on Amazon shows A LOT of businesses selling portable workout systems. My other "difference" besides who I'm marketing it to would be that my system provides more information than most other workout systems i.e. many businesses solely sell workout equipment, other companies solely sell information products regarding fitness and health. My business does both (however there are other companies who do both as well).

My question is, do you guys think I should go ahead with my new game plan, buy the new inventory and try to re-launch this business. Or, do you feel that unless my product is more unique than competitors it's not going to work? Any feedback would be appreciated, especially before I invest more money into it.

Thanks.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Brewmacker

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
164%
Jun 17, 2019
214
352
40
The Netherlands
Well now is a good time to get it out there! Hurry hurry 1st Jan 2020 is your time of year! New years resolutions on a 2020 year! Massive haha.

I work out at home with a collapsible/mobile set up in my living room and have my own regime which works great.

I can only really advice you, if I knew what exactly your product is and what the goodies are. I am always interested in this type of thing.

What I need at a minimum to go from belly to six pack in 5 weeks (proven USP) is:
  • Yoga/sport mat
  • kettle bells, 8, 12, 16 kg (actually 8 is two light now)
  • pull up bar
  • 2x dumbbells
  • lifting bench
  • Optional: elastic band for reverse crab training
  • Optional: calisthenics frame
  • Optional: core roller
You need to sort out what your USP is and stand out from the crowd, that is not ringing out from your description.
You need to offer results, have a website with proven results. You tube videos selling your concepts and the science behind your videos.
That is how my guy got me, and why i signed up to my first ever online course. I could e-mail the owner and he would respond in a matter of hours. ;)

Feel free to PM me with your set up and I will let you know if it works for me.
 

Tourmaline

Gold Contributor
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
120%
Jun 4, 2019
898
1,082
Texas
Does your brand put out content regularly and have any sort of significant following on social medias?
 

broswoodwork

Intermediate User of the Flying Guillotine
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
313%
Oct 16, 2015
890
2,790
Did you find some more people, aside from the 1000 people on Instagram, to get some feedback/ presales from?

 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
Did you find some more people, aside from the 1000 people on Instagram, to get some feedback/ presales from?


Not exactly.
 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
Did you find some more people, aside from the 1000 people on Instagram, to get some feedback/ presales from?


However, I'm also changing things up and doing a different product, so I'd have to re-test the new/revised product.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Timmy C

I Will Not Stop!
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
230%
Jun 12, 2018
2,921
6,727
Melbourne, Australia
Hello all,

I've gotten some great help on here for the past few years and I've learned a lot. A few months back I posted about how my business wasn't making sales and I got some good feedback.

My business is/was a home gym product that was somewhat portable. It solved the need of people needing to workout without having the time or knowledge to do so (I provided that with my product + a book + instructional videos).

I looked at all of the flaws of my business, and realized I needed to do somethings differently. I.e. I changed the name, I changed which niche population I will be targeting, and the actual physical product (the product I was selling was costing a lot, it was too heavy and not that portable, AND a few other companies sold it already).

Now that I have changed somethings and reexamined my strengths and weaknesses I am at the point where I am ready to buy a supply of NEW product. My cold feet however comes in right now before placing this order as I don't want to end up like I did months ago with a whole supply of unsold inventory. The reason for my fear/hesitation is that when I asked a friend what he thinks about my product (well a few friends), they ask how I'm going to be different than other companies. And I ask myself that question too. There are a bunch of other companies selling a similar product/service than I am . With a lot of competition out there in a saturated market (fitness), I question whether or not primarily marketing my product towards a unique demographic is enough of a difference.

My business is essentially a system (in the form of book, and videos) for working out at home or on the go, with a box of exercise "goodies" that customers use with the system. A simple search on Amazon shows A LOT of businesses selling portable workout systems. My other "difference" besides who I'm marketing it to would be that my system provides more information than most other workout systems i.e. many businesses solely sell workout equipment, other companies solely sell information products regarding fitness and health. My business does both (however there are other companies who do both as well).

My question is, do you guys think I should go ahead with my new game plan, buy the new inventory and try to re-launch this business. Or, do you feel that unless my product is more unique than competitors it's not going to work? Any feedback would be appreciated, especially before I invest more money into it.

Thanks.

B2B or B2C product?

Never mind.

I'd stay go for it but start small, you don't have to go the Amazon route either. I'd test the market with the smallest most affordable you can. First will they hand you over money? Do they want it? If so buy a bigger order and sell.
 

Johnny boy

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
620%
May 9, 2017
2,929
18,173
27
Washington State
The secret to the fitness industry isn't a good product. It's one guys ebook/online program sales page against another's.

The secret is attention.

If The Rock decided to get into selling ebooks/other products on fitness, he would kill your sales numbers.

If Cardi B decided to get into selling fitness products too, she would also kill your sales numbers.

Think about that for a couple days.....
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

broswoodwork

Intermediate User of the Flying Guillotine
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
313%
Oct 16, 2015
890
2,790
Business to consumer. Mainly marketing on Instagram to consumers
How long does it take your product to be manufactured/ ready to ship? Do you have one sample on hand right now?
 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
The secret to the fitness industry isn't a good product. It's one guys ebook/online program sales page against another's.

The secret is attention.

If The Rock decided to get into selling ebooks/other products on fitness, he would kill your sales numbers.

If Cardi B decided to get into selling fitness products too, she would also kill your sales numbers.

Think about that for a couple days.....

I don’t need a couple days, that’s a powerful and very true statement. What I got out of that is, in the fitness industry it’s not exactly about what you sell, but how you sell it. It’s about marketing strategically and it’s a “monkey see, monkey do” business. I.e taking my product, marketing it specifically and strategically to a certain target, as well as having influencers or highly popular personalities promote it and use it which gives it more credibility. It needs to be seen with successful people use it. I.e here’s Fitness Star so and so using my product to get in shape...

Thank you for that, please tell me if I’m on the right track.
 

broswoodwork

Intermediate User of the Flying Guillotine
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
313%
Oct 16, 2015
890
2,790
It’s already manufcuatered and takes a few weeks to get in. Yes I do have a sample of it.
What moq does the manufacturer have? Can you just start pushing the sales on Instagram and facebook right now, with a 2 week lead time, using the existing sample as a demo?

 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
What moq does the manufacturer have? Can you just start pushing the sales on Instagram and facebook right now, with a 2 week lead time, using the existing sample as a demo?


MOQ I could do 25 units. The total product costs 31 with shipping and I plan to sell it for 75.

So for a little under 800 (on top of the 1100 I spend on the old product that didn’t sell) I could get started.
 

broswoodwork

Intermediate User of the Flying Guillotine
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
313%
Oct 16, 2015
890
2,790
MOQ I could do 25 units. The total product costs 31 with shipping and I plan to sell it for 75.

So for a little under 800 (on top of the 1100 I spend on the old product that didn’t sell) I could get started.
Sell the first 25 before you order the first 25.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

steelandchrome

Author of The Retail Leader Book.
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
158%
Nov 6, 2016
439
693
Goodyear Az
If your product other than the book and videos etc is the same as others why not let them sell the hardware and you sell just the "how to" side of it? A lot higher ROI and then you can capture all the competitors customers as well as people who already have one of those items at home or bought off ebay, craigslist, FB, etc? Put out daily/weekly content and motivational videos and use that to sell your book and workout video.
 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
Thanks to all. I've decided I'm going to put out a lot of content, provide as much value as I can, create really informative and helpful posts with just the sample product I have and hopefully that will grow interest. I won't put an order in for inventory for another few weeks. I will spend this time marketing and getting the word out there, once the interest starts showing up I will buy the inventory and go all out.

It is building time.

Again thank you to everyone. I'm glad I posted.
 

Johnny boy

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
User Power
Value/Post Ratio
620%
May 9, 2017
2,929
18,173
27
Washington State
I don’t need a couple days, that’s a powerful and very true statement. What I got out of that is, in the fitness industry it’s not exactly about what you sell, but how you sell it. It’s about marketing strategically and it’s a “monkey see, monkey do” business. I.e taking my product, marketing it specifically and strategically to a certain target, as well as having influencers or highly popular personalities promote it and use it which gives it more credibility. It needs to be seen with successful people use it. I.e here’s Fitness Star so and so using my product to get in shape...

Thank you for that, please tell me if I’m on the right track.

"it needs to be seen with successful people"

not the main idea...

attention is the only thing that matters


Think of every single business as "monetizing an audience".

I have a lawn care company. Guess what? I look at it as "monetizing an audience".

You want to sell fitness products..great. You need to know your audience.

Then, you need to know how to get in front of them and give them a compelling offer for as cheap as possible.

If you can do that while running ads...well shit...that's amazing. What a beautiful and easy business model.

But, usually that won't work. You have to get their attention another way.

A while ago, it made sense to start a fitness blog and sell an ebook on the sidebar of your site, because everyone was reading blogs...

Then, it was youtube. And that's where you get brands like Athleanx (Jeff Cavaliere)

Then, it was instagram...

It's all based on where people are paying attention and how to get peoples' eyeballs on you.

I think you trying to become instagram famous or be on a reality tv show would actually grow your business more than most other typical strategies.

But that's an extreme. I would just start with really good content marketing on all platforms that have your audience on them.
 

JohnBuffet

Contributor
User Power
Value/Post Ratio
59%
Feb 9, 2017
124
73
NJ
"it needs to be seen with successful people"

not the main idea...

attention is the only thing that matters


Think of every single business as "monetizing an audience".

I have a lawn care company. Guess what? I look at it as "monetizing an audience".

You want to sell fitness products..great. You need to know your audience.

Then, you need to know how to get in front of them and give them a compelling offer for as cheap as possible.

If you can do that while running ads...well shit...that's amazing. What a beautiful and easy business model.

But, usually that won't work. You have to get their attention another way.

A while ago, it made sense to start a fitness blog and sell an ebook on the sidebar of your site, because everyone was reading blogs...

Then, it was youtube. And that's where you get brands like Athleanx (Jeff Cavaliere)

Then, it was instagram...

It's all based on where people are paying attention and how to get peoples' eyeballs on you.

I think you trying to become instagram famous or be on a reality tv show would actually grow your business more than most other typical strategies.

But that's an extreme. I would just start with really good content marketing on all platforms that have your audience on them.

thank you!
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

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

Join Fastlane Insiders.

Top