From 0 to 100 - My journey to the Fastlane - Importing/eCommerce/B&M

[saigon]

I've been on this forums for years, soaking up tons of information, learning from the best and figuring out, how I can make my impact. I've always had some weird obsession with exotic cars, exorbitant amounts of cash, large mansions, the usual slowlane thinking that led me to never taking action and digging myself further into the slowlane. "Man I wish I was that guy", "Damn, that guy must be loaded to have a car like that" "Yeah, I'm gonna make a million dollars with this great new idea". It's pathetic when I look back on it. Got suckered into plenty of quick cash ideas or slowlane side-ventures that never took off.

My goal with this thread is to keep me honest with everyone but more important, with myself. I just turned 25 and as I look at my parents and many of those around me, high income or safe jobs typically don't lead to true happiness or FREEDOM - and that, to me, is worth more than all the things I used to envy of others.

I'll document my process (journey) on building and growing my business and brand. I'm currently in ASM4 (Amazing Selling Machine 4) - signed up a week or so ago and this was the wake-up call I needed that I can and will take action (if anyone is a current or past student, would love to start/join a mastermind). I hope I can provide even a fraction of the value I've learned from here back to you all.

I won't post any lavish monetary goals that mean nothing. My goal is to generate at least one organic sale a day by the end of the January and replace my full time income by the end of next year, leveraging and reinvesting profits and any saved money back into the business. I will not share my niche or product but I'm passionate and confident that I can build a strong brand around it. It's in a fairly competitive niche with a medium to high barrier to entry but I believe I can come in and carve out my piece and become an authority.

Things accomplished so far:
- Signed up for ASM4
- Gone through first 3 modules
- Decided on product niche and brand for first product and found 3-4 complimentary products that can be added later
- Spoke with numerous suppliers and ordered 3 samples that will arrive next week. If all checks out, will order inventory and try to get into FBA before December in time for any mid to late Christmas/holiday shopping

To-do list:
- Finish module 4 and rest of modules in ASM4 as they are released
- Create separate eCommerce site to diversify my sales channels
- Get packaging and logo designed for product
- Setup and optimize product listings
- Re-read @JasonR 's Facebook ads posts and other posts regarding PPC
- Solidify and cement brand for product and do market research for scalable Brick & Mortar placement
- Launch product(s)
- Get a sale
- "Scale like a mofo" - @(zen*******)

I hope you all enjoy my wins and failures - which both mean continuing my education to the fastlane. Let the fun begin.

 

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[dochustle]

Excited to follow your progress!

 

[MoneyDoc]

Looking forward buddy! Good luck.

 

[Digamma]

My goal with this thread is to keep me honest with everyone but more important, with myself. I just turned 25 and as I look at my parents and many of those around me, high income or safe jobs typically don't lead to true happiness or FREEDOM - and that, to me, is worth more than all the things I used to envy of others.

Resonates with me, brother. I could throw myself in a startup job as a developer, and now that they're burning investor's cash like firewood it would be a great way to kickstart a career.
But I wouldn't have time to grind for myself, would end up as an employee for life, and that looks like a tunnel with no light at the end. Nah, I want to make something mine, and starve if I have to, but be free and pursue my own vision.

Your heart seems in the right place. Will follow your topic, good luck.

 

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[ÉlyAna]

Yeah thanks for sharing, keep it up! We are with you so l'ets go!

 

[saigon]

Updates

So, received my samples. Supplier actually threw a new style of product in supplies for free and I actually ended up wanting to use that as my product vs. my original intent. We go through the purchase and pricing discussions and I place order with 30% down. Next day ... we get a note saying their tooling machine is broken or some problem and they will no longer be producing that version. Huge let down but we must push process forward.

Got in contact with a new supplier that has some attractive products and finishing up details on a sample order from them. Additionally, the supplier had some products that sparked an idea for a product that is not readily on the market right now that could actually be my starter item and then include that with my original product. Will be a huge win and could really allow me to gain share quickly. With every road block comes new opportunity.

Other updates:
- I have a basic website up - will need to fully setup with products once I have the designs finalized. What shopping carts do most use? I have WooCommerce installed currently but I've heard Shopify or others could be better
- My designer has come up with a logo for my brand. Also creating a branding kit for me
- Pushing along the ASM course. Trying to not let the roadblock keep me too far behind

Hopefully have some good news in the upcoming week(s).

 

[saigon]

Updates

Received samples from two suppliers. Wanted to use one product as the main product as stated above and started reading reviews from a couple other sellers on this specific product and decided against it (inherent problem in design that couldn't be solved...unless you switch products!). With that being said, one of the suppliers threw in some extras (gotta love suppliers, they want you to purchase everything they manufacture), ended up liking one of the extra thrown in that will be highly complimentary to my main product. With the inherent problem product, going back to building sales funnels, it could be a good trip wire if positioned properly. With my current business, it's not something that could be sold separately, has to be packaged (can't go into too much details.

Finalizing pricing with supplier for packaged products, should be placing order Monday in time to get things produced and ready for shipment 2nd or 3rd week of January in time before the February factory shut downs. Moving the process forward.

Other updates and key tips to others:
- Leverage a freight forwarder
My freight forwarder is a wealth of knowledge and has connections. He's going to be introducing me to another 3PL company that handles packaging, inspection, warehousing, etc. Great person to have especially as a one man shop as I'm currently setup through Earth Class Mail for my inspection and FBA shipping coordination. Freight forwarders also handle all your customs and shipping and can get you outstanding rates for shipping whether via air or sea.

- Communication is everything
Be very clear in your expectations with your suppliers (or anyone for that matter). Last thing you want is to order some product and it's not what you expected or the quality is less than you expected. Most of my suppliers are willing to negotiate on price but with that comes a degradation in quality. Be sure you are being clear on your expectations of quality, lead time, etc., so you aren't caught with your pants around your ankles

- Ask the right questions
No question is a dumb question but don't be afraid to speak up and challenge the status quo. I've just beginning but my suppliers product is out there on the market but not in the design and quality that they produce. I asked about an exclusive distribution agreement with them and they are willing to entertain the idea once they see how my business does with their product. Could they be blowing smoke in my face? Sure. But their current brand is not well known or used in the US market and if I can lock down this market with their design solely for me, breaks barriers to entry for others looking to enter. The market I'm in is dominated by just a couple big players so any differentiation is a win.

- PUTFP
Pick Up The F*cking Phone. Get out there. Be uncomfortable. Challenge yourself. Challenge those around you. I have a full time job but I make sure I leverage my free time to work on this business. I've been at a standstill waiting on samples, etc., so instead of lounging around, I've been reading more. I leverage what I read back into the business, my lifestyle, my decisions, etc. Am I perfect? No but I make sure I get up with vision and goals in mind and figure out how to achieve them.

Long post but hopefully my next post, I'm ready to get my product into FBA to begin selling. Happy holidays everyone.

 

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[stockyal]

hey good thread i recently started an ebay start up just wondering what website you use to get hold of your suppliers ?

 

[saigon]

hey good thread i recently started an ebay start up just wondering what website you use to get hold of your suppliers ?

Plenty of different ways to find suppliers but Alibaba is a great source. You do need to vet them but that will be your best bet from sitting on your couch, on your computer.

Personally, I plan on attending the Canton Fair next October to get facetime with manufacturers and see potential product additions that aren't always shown online. Helps differentiate as you have everyone going to Alibaba now and will start to see your product can/will be the same as others. Nothing wrong with that with the right value prop (i.e. my product is very unique in the space it's in and nobody is really promoting it so allows me competitive advantage with my launch if I can maintain a good hold of market and then enter into exclusive agreement with my manufacturer). There are also other fairs in China and even globally. I think sometimes we all focus on China but other countries export and even the US has manufacturers that can compete in some instances. Hope that helps.

 

[TriumphantBucks]

My freight forwarder is a wealth of knowledge and has connections.

I'm looking for a freight forwarder based in china and in the US, do you mind giving me a PM telling me about yours (your freight forwarder)? will greatly appreciate it and also it'll reduce the trust issue since he was recommended.

 

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[saigon]

I'm looking for a freight forwarder based in china and in the US, do you mind giving me a PM telling me about yours (your freight forwarder)? will greatly appreciate it and also it'll reduce the trust issue since he was recommended.

Sorry for the delay in responding. I used Connected International (http://connected-intl.com/main/). My product is still being manufactured so I haven't had too much experience on the shipping/customs clearance side but they helped me get a Continuous Bond and have answered any of my silly questions promptly. Ask for Tony.

I know there are others. If I come across them again in my interweb travels, I'll share.

 

[1milclub]

Thanks for sharing.

Questions:

1. Is this a complete new product (patented etc.) or just a branded (or line of branded) products?

2. Are you planning to sell only on your website or also on Amazon (in either case - why?)

3. Did you follow the ASM methodology (price range - ranking - review, etc.) or came with the niche on your own?

4. If you don't mind - what is the starting investment in the range of? And what is the sample size you are starting with (units).

You may skip the question(s) if you don't feel comfortable answering.

Thanks again,

 

[saigon]

Thanks for sharing.

Questions:

1. Is this a complete new product (patented etc.) or just a branded (or line of branded) products?

2. Are you planning to sell only on your website or also on Amazon (in either case - why?)

3. Did you follow the ASM methodology (price range - ranking - review, etc.) or came with the niche on your own?

4. If you don't mind - what is the starting investment in the range of? And what is the sample size you are starting with (units).

You may skip the question(s) if you don't feel comfortable answering.

Thanks again,

1. This will just be a branded product. The current style is one that is different than what's on the market and I'm including something that most do not include as a bonus that should hopefully differentiate. I've been battling the fear of failure for the past couple of weeks but I know I have to push through and see what the market says when I launch my product. ASM methodology shows me how to find winners and mine falls in the criteria so I may be overworrying

2. I'm starting on Amazon but I've found a great PPC guy that I'll probably use to do ads to my own site as well. He's building a wireframe for my own site and we'll see. It'll probably start as a landing page at first since only 1-2 products then build into eCommerce when I grow into a few new items I have planned if this one takes off

3. I followed ASM methodology for the most part. Sometimes you have to go around it a bit as you can end up in a ultra-competitive, price is differentiator field. My goal is not to be the cheapest but the best quality and most convenient and my price and product reflects that.

4. Starting investment minus the course is going to be $xxxx-$xxxxx. Higher priced product compared to the supplements most do to start off with so it cost a bit more for inventory. Once I get the product in a couple of weeks, if all checks out (branding, packaging, etc.), I'll probably order another round to help buffer for Chinese New Year. Sample size for 1st product is 500 units, 2nd product is 750 units with another 500 being included with the 1st product.

Hope this helps! Are you an ASM "grad"? I'm thinking of starting a Mastermind group or joining one off the forums here for those either ASM grads or into importing/eCommerce. Still working full time so don't want to start something I can't be active in but want to work out the logistics.

 

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[Guest24480]

I read through Vigilante's thread on importing and took notes on the first 30 pages or so. If you want to take a look at them I can send you them through a PM, good luck!

 

[TriumphantBucks]

I read through Vigilante's thread on importing and took notes on the first 30 pages or so. If you want to take a look at them I can send you them through a PM, good luck!

i'll love to get that note too...

Thanks

 

[saigon]

Back to the drawing board...again. Huge inherent safety issue that revealed itself in the sample I had has caused me to scratch this niche entirely outside of the complimentary product I was going to include that had already been produced.

Researching new niche's to jump into. Have a couple ideas but not sold on it yet. Have had a couple phone calls and shot some emails out with manufacturers of my potential product so should know if I'm going to move forward within the next week or two.

In hind sight, this road block may have been a blessing in disguise. Onwards and upwards...

 

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[mars]

Ha. This tread hits so many points with me. Welcome to the world of importing. I'd say my first 10 product ideas didn't pan out. Finally went with a product and it failed miserably. I just chalk that up to the price of admission. Something happened after that first product and now my product selection is far better. I say get a product in...ship to Amazon and go for it.

 

[saigon]

Ha. This tread hits so many points with me. Welcome to the world of importing. I'd say my first 10 product ideas didn't pan out. Finally went with a product and it failed miserably. I just chalk that up to the price of admission. Something happened after that first product and now my product selection is far better. I say get a product in...ship to Amazon and go for it.

You're completely right ... have to keep pushing forward. My add-on product to differentiate the main product is now going to be sold as a main product, either to see if there is a market for it in itself or to liquidate and move on. Should have this product by first week of February and hopefully live within a week or two of that.

In the mean time, I've moved onto a new niche and I'm waiting on a few manufacturers to get me price quotes. This will be in the supplement industry. I'm getting price quotes on both custom formulation and some stock products that, based on ASM criteria, could do well and has not been dominated by any ASMers yet. This should give me 2 stock products and 1 custom to launch with. Waiting pattern now for those but still searching for other products to sell while I wait. The ASM conference is in two weeks so looking forward to gathering some more information there. I hope it's not a pitchfest.

Just a point of clarification: earlier on my posts I wrote a piece of advice as "pick up the phone". When I wrote that, that entailed me writing emails on emails hoping for response thinking that meant taking action. Wrong. In reality, you need to MAKE CALLS, get on the phone, get your hands dirty and talk with manufacturers. I ended up talking to about 3-5 manufacturers on the phone and as someone who's never done supplements before, they provided me with a wealth of knowledge on their capabilities and some are even willing to custom formulate for F-R-E-E. Anyways, rambling now. Back to calling.

 

[saigon]

Still chugging along. I'm using the first niche's complimentary product at first product. Finally on the way to FBA after tons of supplier and shipping delays.

In regards to new niche, product is also on way to FBA. It's not supplement but a physical product as I'm still working on getting the formulation for that done right. I went to local shop to get a feel for what customers are asking for (why not ask your target market or possible distribution) and she gave me a ton of ideas for the product(s) I was thinking of. Been spending time finding the right mix of ingredients, medical research and what I'm trying to target and hoping to have that test formula together in next 2-3 weeks and get quotes from there from manufacturers. In the mean time, placing new sample orders tonight with supplier for a couple complimentary physical, non-supplement products and tightening up my launch plan once FBA inventory lands.

Looking forward to meeting some forum members next week at B&P and Canton Fair in April.

 

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[saigon]

Update!

Whew ... the past month has been a whirlwind. Thanks again to @MJ DeMarco, @AllenCrawley, and @Red for putting on an incredible event. Thanks again to those who shared their wisdom with us and in the small groups at lunch and dinner. I left super energized and re-wired for success ... and small bouts of success is exactly what I've had since then so let's get to it

Product/Niche #1
As mentioned before, this was a product that was going to be complimentary with my main product but because of safety issues, I scrapped the main product. I already had this product being manufactured so I said, hey, let's package it up and see if it sells. The week of the Fastlane Summit, all my inventory landed at FBA after numerous delays. Ran a few promotion campaigns and used some services to help gather some reviews, this was first week of March. As we stand today, I have over 100 reviews (and more pouring in) and I'm up to around 5-7 units a day. I was super nervous that this wouldn't sell but like Michael Masterson says in his book "Ready, Fire, Aim" - Let the MARKET tell you whether your idea is a good one or not - and that's what I did. I'm hoping to exponentially grow this but for only two weeks, very encouraging results. Have talked to supplier about some other products that'll go well with this that's not on market currently, working out details but it'll be a brand new product - super pumped.

Takeaway: For Amazon, reviews are the lifeblood of your account. Protect it with everything you have. Make sure you have a rock solid 2-3 email auto-sequence in place and that you are providing EXCEPTIONAL customer service. Customers love that I respond to their emails fast and they write that in the reviews. I had people who purchased $1 review discounted products that encountered some issues - I took care of them right away and in turn, got stellar review AND people buying them at FULL price as gifts. Reach out to bloggers and other review groups through Facebook to find people to grow your reviews. It's a very "odd" cult of review groups out there that all they do is review free-$1 products all day - take advantage of it.

Product/Niche #2
For this niche, ties into the supplement I've been working on (or slacking on, to be truthfully honest). I actually purchased the brand/inventory of this product from someone who took the same course as me. He had done a ton of work building up the Facebook group and getting reviews in but wanted to move on so I got it at cost of inventory plus a few dollars for his time. I haven't focused much on this but I've just about doubled reviews on this since I bought it and have 1000 units on the way to run through the same launch method I used for product/niche #1. Also ordered some samples for a couple other products I hope to add to the line in the next month or so once I get this up to a health daily unit number. I'm still doing research on the right formulation for my supplement, I'm aiming to have that down pat by May but cash is getting tight so figuring out ways to make some supplementary income.

In regards to the supplements, actually have an idea for two supplements that'll work hand in hand together. Trying to find the right balance of ingredients that'll provide my desired effects and see if the market is receptive to it. It definitely is filling a void in the market so we'll see what the right marketing mix will be necessary to bring it to light outside of Amazon

Takeaway: Get out, talk to your market, talk to potential suppliers of similar products. I was at a local store (talked about this in last post) - one of the clerks gave me a killer idea on how to create my supplement products that I'm gonna utilize when ingredients are down. She essentially gave me an idea that'll double my profitability and ultimately, my sales.

Overall, this experience to date has been life changing. To know I'm building a brand and producing products that customers are happy about (one guy bought 3 yesterday!) is fulfilling. If I could give one takeaway out of everything is to stop wasting time on shit that isn't making you money. I used to be a huge wantrepreneur - what's the perfect logo, let's have the perfect LLC in place, should this be this way, blah blah - all things that aren't telling you whether your product will even be successful or not. The only - yes, only - thing you should be focusing on is SELLING. You can always go back and improve your product. You don't have to be perfect - don't put out garbage but you don't have to perfect the product out the gate. Look at ANY piece of technology out there. Were electric cars getting huge mainstream traction 20 years ago? Were cell phones able to do video calling and exceptional battery life that you get today 10-20 years ago? NO! They improved over time. The companies who couldn't innovate, got/get swallowed up but you just have to throw your idea out there and TEST TEST TEST. And stop thinking small/slow. Fail and fail FAST. This helps you go ever faster to success once you realize what DOESN'T work/sell. Get it?

Next Steps
- I've hired a VA to handle my social media and some other auxiliary tasks. My 2nd niche is all over social media so that should pay dividends rather quickly once we ramp up and add new products
- I'm working on 1-3 new products for niche #1 and about 2-4 for niche #2 but still putting 80-90% on growing my existing products to a larger number than 8-10/day
- Canton Fair next month - going for 3 weeks and meeting a ton of people here that are going. I hope to document that journey in another thread but excited for that
- Looking to expand into international Amazon markets by this summer. Everyone says Amazon is saturated with new sellers, blah blah blah. So? Think outside the box. If you're making the same me-too product, yeah, I'd be worried but if you're creating true value or solving a need, no matter how big or small, you won't have to worry about that. Working with a couple folks on building an international list for gathering reviews, etc. to jumpstart the process when I go live. Should be fun. Can take off or completely tank - won't know until we try
- Looking into building Shopify site once I have a stable product selection available and especially when the supplements get created. The goal for now is to build up the Amazon side of the house but getting multiple channels going helps maintain control and get to scaling smarter
- Finalizing details on moving to Scottsdale! Met some awesome people out there and have been contemplating a major move for the past 6 months and visited and fell in love with Scottsdale. Hoping to be on the ground by June 1st!

As always, feel free to ask any questions for those looking to get into eCommerce/Amazon. I'm in a couple masterminds from here and they've been nothing but great for keeping me focused and troubleshooting problems I or they have had. I highly recommend people to join/create one with likeminded people - nothing beats it.

I will try to update more often as that is the point of a progress thread. Hope someone finds some value from it.

 

[pds]

Overall, this experience to date has been life changing. To know I'm building a brand and producing products that customers are happy about (one guy bought 3 yesterday!) is fulfilling. If I could give one takeaway out of everything is to stop wasting time on shit that isn't making you money. I used to be a huge wantrepreneur - what's the perfect logo, let's have the perfect LLC in place, should this be this way, blah blah - all things that aren't telling you whether your product will even be successful or not. The only - yes, only - thing you should be focusing on is SELLING. You can always go back and improve your product. You don't have to be perfect - don't put out garbage but you don't have to perfect the product out the gate. Look at ANY piece of technology out there. Were electric cars getting huge mainstream traction 20 years ago? Were cell phones able to do video calling and exceptional battery life that you get today 10-20 years ago? NO! They improved over time. The companies who couldn't innovate, got/get swallowed up but you just have to throw your idea out there and TEST TEST TEST. And stop thinking small/slow. Fail and fail FAST. This helps you go ever faster to success once you realize what DOESN'T work/sell. Get it?

@saigon - Great post and awesome progress! I completely agree with what you wrote here...well said. I'll be watching this thread. Best of luck!

 

[Mark Foster II]

Great progress so far bruh! My cousin and I are in the beginning phase of trying to get things started and hearing your journey puts a bunch of things in perspective! Thanks!

 

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[saigon]

Great progress so far bruh! My cousin and I are in the beginning phase of trying to get things started and hearing your journey puts a bunch of things in perspective! Thanks!

Awesome! Glad to hear I could help.

Currently in South Korea connecting to Guangzhou to hit the Canton Fair but I hope to provide everyone with an update post-Fair and maybe some pictures with other fastlaners that are joining me.

 

[exclusives88]

Any update on your visit to the canton fair?

 

[saigon]

Any update on your visit to the canton fair?

Yes yes, will be making a post next week to talk about the experiences with some pictures. Preparing to move to Scottsdale on Saturday so running around like a chicken with head cut off. Look out for it next week

 

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[Joanne Wong]

Hello Saigon. Thank you for sharing and keep updating a great experience journey to the fastlane. Following your updates and learn a lot along the way. :embarrased::embarrased:

 

[juggler619]

good learning from ur thread

 

[advancedyn]

Yes yes, will be making a post next week to talk about the experiences with some pictures. Preparing to move to Scottsdale on Saturday so running around like a chicken with head cut off. Look out for it next week

Looking forward to your next update! MJ is turning Scottsdale into an Entrepreneurial Hub.

 

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[MoneyDoc]

Looking forward to your next update! MJ is turning Scottsdale into an Entrepreneurial Hub.

He should just host a huge party at that beautiful house of his.

 

[saigon]

Been awhile so figured I'd post an update on how things have been.

I spent most of June/July working on a brand new product (different thread for that). It's a project that will require a lot of cash and thus, I put that on the back burner for now while I build up the cash flow for my Amazon focused business.

Beginning of August, started looking for new products/niche to sell in and found a niche that I'm attempting to tackle. Ordered a sample, quality was awesome so did a an order for a few hundred units. I split about 50% via air courier and 50% via sea (so I can get that experience). Really excited about this product and niche. It's not a new product but not too many competitors in this space because of the higher selling price and cost of the item. Also ordered samples for 3 other products a week ago, those should be arriving next week as well.

In regards to my 1st two products - one, I'm going to let die. The margins aren't their as theirs little value to be added and its a race to bottom. I have about 400-500 units left and will let those sell out. My 1st product, however, I was having some QC issues with it. Many returns. I worked with my manufacturer to find out a fix for it and we finally found a good fix. I ordered another round of inventory (1800 units) and added a new color, so that should last through the holidays (or less depending how soon manufacturing finishes) and it's a very giftable product. I also raised the price and sales have remained stable. Once I get the new batch of inventory in, will start running PPC for this product and focus on getting ranked. I did have a CAD designer redesign the product entirely for me back in April as I wanted to run a Kickstarter for the newly designed but I put that on the back burner for now. I may entertain that again later as this would be the only product of its kind on the market with the redesign.

I've been slacking on updates so I will try to give more as the process goes along. I'm finally on a path that I'm comfortable sharing with everyone with and excited to see what this new niche/product/line will be in 3-6-12 months from now. I'm trying to learn how to do reconnaissance from my target market or experts in the field so that I can find innovative ways to differentiate and stand out and it's been difficult. I'll have to step outside my comfort zone a bit and this week, will be making some cold calls/emails. I just finished Straight Line Persuasion so I look forward to putting the lessons into use. Any advice on this is appreciated.

If anyone has any questions, feel free to ask! There's a ton of opportunity on Amazon still whether you want to wholesale existing products, private label hidden gems, or create and carve out brand new offerings in the field. I get into this debate with some guys a lot about the right path but there is no one right path for all. You have to set yourself up for your goals and what you feel is best for your lifestyle and aspirations as a entrepreneur.

Also, if anyone is going to be in Southeast Asia in October (DCBKK) or January/February time frame, let me know - would love to meet some fastlaners abroad and plan on spending some time over there to get more worldly experiences.