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Discussion in 'Progress/Execution Threads' started by JByers210, Aug 10, 2017.

  1. Parker P
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    Parker P Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Awesome thread man. I'm in the product selection phase right now, so reading this thread is really inspiring considering you're relatively new to this as well. I feel like it's really cool to catch threads like these early on solely because they haven't turned notable or gold yet, so they're more relatable to people who are first starting out (like me).
     
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  2. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm glad this thread has inspired you. That pumps me up!! I know what you mean. It's just taking action (launching a product, not action faking and trying to make everything perfect...which is what I'm going through again as we speak) that has helped me get from noob level one to noob level two lol. Stay in touch!! Feel free to PM me and talk. I want to meet like minded people and share progress and ideas
     
  3. Parker P
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    Parker P Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Will do!
     
  4. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I just got a one month subscription to split.ly like @amp0193 suggested and am going to see how it goes with my product! I'm not totally sure how it all works but I'm interested in watching the results.
     
  5. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I've taken all of the social media usernames for my brand name...but the .com domain is taken for it. I reached out to the owner and he said he is going to be releasing his own product soon and isn't interested in selling it. I bought a .com with a tagline from our business instead. Any thoughts? @MJ DeMarco I saw what you said on the thread about building a brand on anything but a .com. Would love to get your take on this.
     
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  6. Striver
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    Striver Bronze Contributor Read Millionaire Fastlane

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    Great! Gotta do whatever it takes.
     
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  7. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm getting my sample for my newest product on Tuesday! I've taken the product and just added two changes to it to make it more convenient. I posted a blurry photo as a sneak peak on my instagram page to hype it up, and people have been commenting saying it looks sweet and are tagging friends. Someone messaged me today saying they wanted to pre-order it! My first product is still selling on Amazon and doing alright (I've sold 3-4 on average a day probably).

    In Unscripted, MJ talks about listening to the market's echos. I believe I've heard some this week. I re-purposed a picture I got from pinterest to my instagram page and it was just a quality picture that had to do with my niche. The picture had a handmade item in it and this week I've had two people ask me how much I'd sell it to them for. I had nothing to do with taking the picture and what was in it, but I asked one of them how much they'd be willing to pay for it. I thought he'd say 60$...he said "I would pay 200$ for it". I don't want to jump all in on something, but it seems like there is a demand for it. I checked to see if this was being sold, but all I found was a DIY project website that the picture came from. I'm going to learn how to make one myself and see if someone will actually buy it. It would probably take me a couple hours of work and 30$ in materials. I'm pumped to test this!!!

    Thanks for reading!!! Any advice or anything anyone has for me I'd love to hear.
    P.S. I wanted to go to the fastlane summit so bad. I decided not to pursue it this year so I can save money and dump it into my business. I can't wait for the next one!!!!
     
    Last edited: Nov 19, 2017
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  8. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I've been spreading myself too thin with college, real estate classes (I go to night classes), work, and this business. I came into work last week and my manager talked with me about how I need to focus on what matters the most to me and not try to do everything at once...even if it was the job. I thought about it for a while and decided to put my two weeks in. By next Friday with my next two checks, I'll have 2,300$ in my personal account and around 1000$ in my business bank account (with inventory for two products worth at least 2000$ already paid for as well). My dad owns a construction company and offered to let me work once or twice a week down the road at a job site to pay for food and gas if I want to which helps. My backup plan for cash is real estate in the not too distant future.

    Here are my priorities as of right now:
    1. Spending more time on the business overall - taking action - learning more on the forum
    2. Getting my Real Estate license in a few weeks and starting to work under a mentor
    3. Getting my Associates Degree. My dad is paying for me to go to community college and I appreciate that he is putting his money where his mouth is.
    I'm struggling right now with my newest product. I ordered 100 pieces and then afterwords I found out it has a patent even though there are people selling them outside of the patent owner. I think I'm going to just sell through these, take the profit, and move on to another product because I don't want to be infringing on patents. I'm definitely not trying to do it on purpose.
     
  9. Striver
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    Striver Bronze Contributor Read Millionaire Fastlane

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    I bet he was like, "wtf did I just do?"! haha
     
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  10. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Hahaha yeah I didn't think about that
     
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  11. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    My last day at my job is this Friday. I am so pumped to wake up every morning knowing I don't have to clock into the tire shop and go drive for hours a day. All the money I've put into the business has come back with more for me to put right back in. I haven't created my first handmade product yet that two people have shown interest in from the picture I posted on my instagram page...but I'm making it this week. It will roughly cost me 30$ and a couple hours of work to create. The finished product will sell for 200$. I've bootstrapped this ecommerce business with my first product so far with orders of 20, 40, 60, and now 80 units.

    Here is what I am going to accomplish this week
    • Create my first new handmade item (involves learning how, getting the right materials, probably failing a couple times)
    • Get one sale for 200$ (profit 150$)
    • Get at least 10 more pre-orders for my new product being released in a few weeks
    • List a ton of stuff I own that I don't need on Ebay/Amazon/Craigslist and use that money for more inventory.
    • Read books I own but haven't gotten to yet:
    - Jab, Jab, Jab, Right Hook - Gary Vaynerchuck
    - Greatness is Upon You - Eric Thomas
    - My Bible.. I've been so tired and busy with everything I haven't been in my Bible like I should. I always feel that tug to read it every day. The more I ignore my spiritual walk, the harder it is for me to focus mentally and physically. Just how it is. I've been using MJ's daily Fastlane checklist lately and I've realized every day so far that I haven't been able to honestly check off the box that asked if I had improved my spiritual being that day. Fixing that!

    The job I'm about to be done with now is paying me 10$ an hour (which is minimum after taxes). I am not against getting another job to continue funding my business endeavors...but I don't want to go back to that. I'm going all in with this new handmade product and believe that I can make at least twice as much as I can at a job...while I'm already selling my first product on Amazon.

    This past month I've talked to some friends that are away at different colleges and it's changed my perspective a bit. I asked if my one friend was working and he said, "No, I haven't worked since last summer." I then asked, "Do you have any saved up?" (We are good friends, neither of us care if asked about stuff like that) "No. I'm spending it all on college and housing" He will be spending 20-30K a year for the next four years to go there. How dumb. He's just one of a few doing the same thing. I'm a total beginner in entrepreneurship, but it's something I can't live without. It's hope and a real dream. I love it.

    Here is proof of my sales so far on Amazon!
    Capture.PNG
     
  12. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Today I broke my record for sales and profit in a day on Amazon with 14 units sold...I made almost twice as much as I would if I went in to work today. It's the craziest feeling. Yesterday was my first day without a job and I focused on learning Amazon PPC and how to setup manual campaigns which I believe is what made my sales so high today. I'm hungry and have so much to learn, but I'm enjoying the whole process.
     
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  13. NewManRising
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    NewManRising Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Did you get any market validation before you decided on your product? If so, what avenues did you take? I have a product in mind and I think it is good but I would like to test it first.
     
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  14. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    After a month of reading threads and researching products, I found one that I felt I could add a little bit of value to and just went for it with 200-300$ to start. It's been selling consistently so it's been working out. I had no market echos or validation, but I did read the product reviews looking for low star ratings and complaints that I could fix. I fixed the most common problem and went with it.
     
  15. NewManRising
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    NewManRising Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Cool. I just read your first page in this thread and realize there is a few things I need to do. I have not filed for an LLC nor set up an Amazon seller's account.
     
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  16. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Check out all the Ecommerce threads on the forum..I refer to them quite a bit!
     
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  17. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    My first product is still selling consistently on Amazon and my new PPC campaign has been bringing in a crazy amount of sales compared to before. I'm not sure what my deal is, but the past couple weeks I've made getting pre-orders for my new product so much more difficult than it has to be. I keep overthinking it and wondering if I should do this or that. I picked up Unscripted and read through a chapter that had to do with KE and in it MJ talked about buying Instagram ads from large profiles on the cheap for about 25$. I immediately stopped reading and began reaching out to as many as possible in my niche with 300K+ followers. I've got 97 units coming in and I've only pre-sold 7 of them.....that's pretty bad but I'm getting on top of it. I already knew about the instagram accounts and buying ads, but I overthink things way too much sometimes and make it harder than it really is. Hoping to sell at least half of them by the time they get here next Wednesday.

    As far as the handmade product goes....it involves using a chop saw and a table saw, both of which I have no experience with. I'm going to my uncle's house and learning how to do it without taking off a few fingers or killing myself this or next week lol. I'd say that this has some pretty good barriers to entry with the detail and supplies it takes to make it all come together.

    Here are the things I need to do:
    • learn how to build a brand and read the books @AllenCrawley suggested in his thread on the inside
    • Pre-sell half of my second product by next Wednesday
    • Build my first handmade product as soon as possible
    • Get my instagram follower count up to 4K by next week
    I'm going to be hustling on Craigslist and flipping things to get more cash for the business. It's consistent money coming out the other end every time I put some in!

    A side note....
    I've hit $5641.37 in sales so far on Amazon with my first product! For me it's crazy seeing the small milestones like this when a few months ago I would have done anything to get one sale. Time to set higher goals.
    hghdj.PNG
     
  18. Bassticky
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    Bassticky New Contributor

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    Hello All!

    I'm just diving into the ecommerce adventure as well and I'm kind of confused on what avenues are best to sell my products. I can create products myself, but will be relying mostly on P.O.D. services to license my artwork and print it on bunches of products without having the overhead. I'm just not sure what I should do with my website. I got a domain, web hosting, and have a framework built up on Wix - but when I went to add products to my "store" section, they wanted me to pay $24/mo, on top of what I already paid for the site and every service that needs to be activated with it.

    Should I just use my website to direct people to the P.O.D. sites? Is there a better way? I would rather people be able to order through my site directly - maybe I could link it to the other sites somehow, or just process the order through them after I receive the order on my site? - but this is where I keep banging my head off the wall. Any suggestions would be greatly appreciated. Sorry if this post was a little scattered, I have so many things running through my mind right now haha.
     
  19. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Everything I know I learned from this forum. I mentioned some names in the beginning of this thread. Right now I'm mostly selling on Amazon with plans of building a brand and business that can run without Amazon down the road.
     
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  20. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm not sure if it's the bad weather (its been cold and foggy nonstop) or the major drop in sales, but I'm struggling right now. I could use some fellow entrepreneurs words of advice,encouragement, or critiquing.

    Sales went from 8-15 units selling a day to only selling one unit a day on my first product. At the rate sales are going, I will be in the red this month and be paying more for my Shopify store and Amazon monthly sellers fee than I'll have made from sales. Maybe this is the desert of desolation MJ was referring to?

    I'm struggling with what exactly to do day to day to grow my business and get out of this rut I'm in. I've been learning Facebook Ads, reading on branding, finishing up my first homemade product, and getting sales and reviews to my new product on Amazon...but I feel like I'm just wandering at the moment and it sucks.

    I'm not sure if it's smart to stick with my current niche because it's somewhat seasonal...I also don't want to run 2 ecommerce businesses. I remember MJ talking about focusing on one business only in TMF. I also don't know if starting from scratch again is a good move. Since I started about four months ago....I've made 6,000$ in sales and around 2000$ in profit. I don't want to wait half a year to do it again though and I want to keep making progress...not go backwards.

    I just looked back at my first posts and my "whys" that I had for doing this. I'm even more motivated than I was when I wrote that first post. On multiple occasions lately I've wanted to ask questions from Fastlaners on this forum but I stopped myself. Mostly because I don't want to annoy anyone or come across as not wanting to find the answers myself...but 99% of the time that I've reached out and asked questions or asked for guidance from someone on this forum..each person has helped me out so much. I want to help guys out like people on this forum have helped me out one day.

    (I noticed how many times I've used the word "I" in this post. This is just how it came out. I'm still new to all of this and have a ton to learn....what I really want to to know is what YOU think!)
     
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  21. B_Mac
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    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    You said it's somewhat seasonal. Has the season for it passed? Is this something that would be bought as a gift for Christmas? I think you should expect sales to slow down some after the holidays.

    While I am currently a reseller as opposed to an importer, my local sales slow down and the types of items I can easily resell change significantly after the holidays. As for progress threads from ecom I have seen on the forum where OP shows the year over year growth, you tend to see a sharp spike just before the holidays, a serious drop, and then sales start increasing again as the year progresses. You have ups and downs, but the graph goes up and to the right.

    I read your thread through one day and thought you were doing well. So I would personally say don't give up. Is there something else related to your item that you could expand into? Something that compliments it in some way?
     
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  22. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    The season for it has passed for the most part. It's not related to Christmas in any way but it can be bought as a neat gift and be a cool stocking stuffer.

    Today I thought about how I could grow this business and what areas would allow me to sell year round and I think I have an idea that could work. I'll pm you about it!
     
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  23. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    A little off topic from my ecommerce journey and progress.....but tonight I crashed my car into a light pole and literally went through the pole and brought it down in front of the car. I was in a rush because my girlfriend was moaning about how bad her stomach was hurting and telling me to go faster...so I went faster, slid on ice around a corner, and went into the light pole. The front of the car is destroyed and the hood has hole in it. Totally my fault, I should have ignored her and not have gone faster in these conditions.

    I'm so frustrated and ticked off. I'm very thankful that neither of us got hurt and that the car didn't get totaled..but it just hurts to literally know I'm going to spend at least a couple thousand dollars and a ton of my time for nothing...just a total waste...especially after just paying a grand for half a years car insurance last week. I've worked my butt off this past year and saved and put money into starting this business. The cost of getting the car fixed will be more than I've profited in my business so far.

    A month ago I decided to stop going to college for now. I have all the time I need to create my new product at home and sell it along with my newest imported product. I'm going to start loading my website with straight up private label products along with the improved products I've spent more time on. I'll be on here a lot more and updating how it's going to keep accountability and to just share how things are going.
     
    Last edited: Jan 14, 2018
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  24. Xeon
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    Xeon All Cars Kneel Before Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Great to hear you're back! Been following this thread and you're doing well so far.

    Don't think too much about the $$$, you should be happy nothing happened to you or her.
    Money can be earned back but not LIVES!

    I'm eager to know how the improved products are gonna turned out. Who knows, you might become the next Biophase or (gasp) even better! :cool:
     
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  25. Parker P
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    Parker P Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Glad you guys are ok though. Money comes and goes but at least you guys are safe. You're doing great man, and I'm always looking forward to your updates in this thread. You got this!
     
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