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Failure is almost guaranteed if you ignore this one simple truth

Bhanu

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100% agree. One of my favorite quote :

Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent. Calvin Coolidge
 

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RazorCut

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What a great quote.

Nothing in this world can take the place of persistence.
This part reminds me of water:

A river cuts through rock, not because of its power, but because of its persistence

27340
 

Paul David

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Wow, this thread @RazorCut has hit the nail on the head regarding my current situation.

July 23rd, 2019
The products for my new brand had just arrived in the warehouse. My new website was ready and it was time to go live. It's had taken me a year to get it to market. I had jumped over a lot of hurdles to get to this point.

The new brand was everything I was looking for. I love the niche, love designing the products, love the type of customers who would be buying. Something I could build a real following from. I was so close to being able to live the life I'd always dreamed of that I could almost touch it.

To say I was positive and excited was an understatement.

Sept 11th, 2019 (50 days later)
So here we are today, only 50 days later. Things didn't go exactly as I'd planned from a sales perspective from the launch. I'd been learning facebook ads for a few weeks prior to launching and had also been to a seminar in London to educate myself even more. However, I had not had any experience actually running live ads and in the first month, I spent $2000 on ads and got only 4 sales. My target for $2000 spend to make a positive ROAS was 100 orders.

I knew i had made mistakes and spoke to a lot of people about facebook ads. I was faced with a choice - either continue trying myself or outsource facebook ads to someone else. I went with the second option. I went down this route because a)they couldn't surely do any worse than I had and b)I could see what they would do differently and then either take back control later on or if profitable leave them to it.

That was 3 weeks ago. Sales have improved but still not getting a positive ROAS. It can take time for facebook ads to work for an account with no previous data. So maybe I was too ambitious with my targets. I have one main competitor on facebook who's spending around $80k a month on ads and doing really well but they are 3 years ahead of me but at least I know the product works at the price point i'm selling at.

During the last few weeks though I've gone through a lot of paralysis issues.

As I don't have any other income and not making any money I was thinking should I get a job? (I've never worked for anyone in my life and I'm 39 so this scared me to death). Should I go back to selling on eBay and Amazon? (I even started looking at my old niche on eBay which I'd just gotten out of after 15 years on eBay because i hated it) Should I get a part-time job just to keep some money coming in? Should I eat, sleep and breathe Facebook ads and master it then I can start doing them for other people? It was like a scene from me, myself and Irene.

My mind was one minute, saying it's early days give it time but then ten minutes I was having anxiety attacks thinking this isn't going to work and I've put everything into it without a plan B. I will have to start looking for jobs. Then i'd spend hours thinking about how much i would hate to work for someone and it goes against everything I stand for. I got angry and upset when my Wife suggested I'd have to get a job.

This thread has just literally jolted me into life. Whilst writing this reply I've also been thinking about the failures/mistakes/experiences that have happened to me as an entrepreneur over the years and every single one has been because I didn't concentrate on one thing. My wife has always called me the Schizophrenic businessman.

At one point I had a computer repair business, an eBay store selling power adapters and i then bought a website that provided instant quotes for purchasing used laptops from people. I was trying to grow all 3 at once.

Then I started selling on Amazon and kept changing the niche I wanted to sell in so I would run out of stock on good selling products because I had bought others in a different niche and had no money left to replenish stock. I also spent a ridiculous amount of money (loaned) on power products that were never going to sell.

This thread has been the best form of counselling I've ever had. And suddenly the answer of where to go next is right in front of my face.

I'm going to eat, sleep and breathe facebook ads day in day out to grow my brand. I want to master everything about it. Worst case scenario if I have to earn some money outside of my brand further down the line I could then do facebook ads for other companies. And it still fits into my mine criteria of being able to work from anywhere, anyplace anytime.

Sorry for the long post and thanks again @RazorCut
 

Bhanu

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 23, 2017
141
246
158
33
Wow, this thread @RazorCut has hit the nail on the head regarding my current situation.

July 23rd, 2019
The products for my new brand had just arrived in the warehouse. My new website was ready and it was time to go live. It's had taken me a year to get it to market. I had jumped over a lot of hurdles to get to this point.

The new brand was everything I was looking for. I love the niche, love designing the products, love the type of customers who would be buying. Something I could build a real following from. I was so close to being able to live the life I'd always dreamed of that I could almost touch it.

To say I was positive and excited was an understatement.

Sept 11th, 2019 (50 days later)
So here we are today, only 50 days later. Things didn't go exactly as I'd planned from a sales perspective from the launch. I'd been learning facebook ads for a few weeks prior to launching and had also been to a seminar in London to educate myself even more. However, I had not had any experience actually running live ads and in the first month, I spent $2000 on ads and got only 4 sales. My target for $2000 spend to make a positive ROAS was 100 orders.

I knew i had made mistakes and spoke to a lot of people about facebook ads. I was faced with a choice - either continue trying myself or outsource facebook ads to someone else. I went with the second option. I went down this route because a)they couldn't surely do any worse than I had and b)I could see what they would do differently and then either take back control later on or if profitable leave them to it.

That was 3 weeks ago. Sales have improved but still not getting a positive ROAS. It can take time for facebook ads to work for an account with no previous data. So maybe I was too ambitious with my targets. I have one main competitor on facebook who's spending around $80k a month on ads and doing really well but they are 3 years ahead of me but at least I know the product works at the price point i'm selling at.

During the last few weeks though I've gone through a lot of paralysis issues.

As I don't have any other income and not making any money I was thinking should I get a job? (I've never worked for anyone in my life and I'm 39 so this scared me to death). Should I go back to selling on eBay and Amazon? (I even started looking at my old niche on eBay which I'd just gotten out of after 15 years on eBay because i hated it) Should I get a part-time job just to keep some money coming in? Should I eat, sleep and breathe Facebook ads and master it then I can start doing them for other people? It was like a scene from me, myself and Irene.

My mind was one minute, saying it's early days give it time but then ten minutes I was having anxiety attacks thinking this isn't going to work and I've put everything into it without a plan B. I will have to start looking for jobs. Then i'd spend hours thinking about how much i would hate to work for someone and it goes against everything I stand for. I got angry and upset when my Wife suggested I'd have to get a job.

This thread has just literally jolted me into life. Whilst writing this reply I've also been thinking about the failures/mistakes/experiences that have happened to me as an entrepreneur over the years and every single one has been because I didn't concentrate on one thing. My wife has always called me the Schizophrenic businessman.

At one point I had a computer repair business, an eBay store selling power adapters and i then bought a website that provided instant quotes for purchasing used laptops from people. I was trying to grow all 3 at once.

Then I started selling on Amazon and kept changing the niche I wanted to sell in so I would run out of stock on good selling products because I had bought others in a different niche and had no money left to replenish stock. I also spent a ridiculous amount of money (loaned) on power products that were never going to sell.

This thread has been the best form of counselling I've ever had. And suddenly the answer of where to go next is right in front of my face.

I'm going to eat, sleep and breathe facebook ads day in day out to grow my brand. I want to master everything about it. Worst case scenario if I have to earn some money outside of my brand further down the line I could then do facebook ads for other companies. And it still fits into my mine criteria of being able to work from anywhere, anyplace anytime.

Sorry for the long post and thanks again @RazorCut
hi Paul ,

Why not start an action thread about your experience on FB ads. It will keep you on track/accountable. It will also be very helpful for us guys who are new to FB ads .
 
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RazorCut

RazorCut

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FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 3, 2014
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5,069
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England UK
This thread has been the best form of counselling I've ever had. And suddenly the answer of where to go next is right in front of my face.

I'm going to eat, sleep and breathe facebook ads day in day out to grow my brand. I want to master everything about it. Worst case scenario if I have to earn some money outside of my brand further down the line I could then do facebook ads for other companies. And it still fits into my mine criteria of being able to work from anywhere, anyplace anytime.

Sorry for the long post and thanks again @RazorCut
Hi Paul,

No need to apologise, writing it down is a great form of self therapy. It helps identify the way forward, often highlights weak spots and reinforces your final decision. Putting it on a public forum also creates accountability.

Congratulations on making that singular focused decision. If your competitor is spending 80k per month on FB ad's you know the model and product is highly viable. So your situation is exactly like MTF's avitar:



It would be so easy to get discouraged and turn back when you are so close to victory. To fall at the final hurdle and see everything you have worked so hard for over the last year wasted. All that time, effort and expense.

Now that everything else is in place putting laser focus on learning to successfully market your business is that final hurdle.

Facebook ad's is a great medium for scaling a business but a difficult nut to crack. As @Bhanu says maybe start a thread on your progress.

I am in the process of finishing my product after several forced delays. But when I can't find the inspiration to work on it I switch my focus to learning all I can about Facebook marketing, as that too is the prime medium to sell my product (where most of my target market hang out). That knowledge has meant a firm of local estate agents has asked if I would run FB ad's for them. It's a very useful skill to acquire and in big demand.

I see a lot of successful FB marketeers pivoting from running ads for others to finding products of their own to market so they have more freedom, control and revenue.
 
Last edited:

Paul David

Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Feb 17, 2015
393
800
304
39
England
Hi Paul,

No need to apologise, writing it down is a great form of self therapy. It helps identify the way forward, often highlights weak spots and reinforces your final decision. Putting is on a public forum also creates accountability.

Congratulations on making that singular focused decision. If your competitor is spending 80k per month on FB ad's you know the model and product is highly viable. So your situation is exactly like MTF's avitar:



It would be so easy to get discouraged and turn back when you are so close to victory. To fall at the final hurdle and see everything you have worked so hard for over the last year wasted. All that time, effort and expense.

Now that everything else is in place putting laser focus on learning to successfully market your business is that final hurdle.

Facebook ad's is a great medium for scaling a business but a difficult nut to crack. As @Bhanu says maybe start a thread on your progress.

I am in the process of finishing my product after several forced delays. But when I can't find the inspiration to work on it I switch my focus to learning all I can about Facebook marketing, as that too is the prime medium to sell my product (where most of my target market hang out). That knowledge has meant a firm of local estate agents has asked if I would run FB ad's for them. It's a very useful skill to acquire and in big demand.

I see a lot of successful FB marketeers pivoting from running ads for others to finding products of their own to market so they have more freedom, control and revenue.
Thanks for your response @RazorCut it means a lot.

I am actually going to create an accountability thread now as there's a bit more to my story. Hopefully what i write will also be of help to others and prevent them from making the same mistakes i've done.
 

Entre Eyes

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Sometimes those Business Insider articles make me want to vomit. Once I was reading what Zuckerburg's sister had to say about becoming successful and I am thinking hmm I do not see anything about how he stole that business here.

Same for Ray Kroc...Stole McDonald's from the McDonald's Brothers.

If you see The Big Short movie it's based on true story of guys who realized the Housing Market was going to bust but instead of becoming whistle blowers they made a Billion off the Market betting against a tradition that had never failed before.

No book about these things.
 

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