Spenny
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I've been developing my first physical product over the past six months. It started with a stamp idea and then moved to a stencil. It was just a better product. Six months may seem like a long time to get to where I am today, but I think I've done well given I have had chemistry exams, other ideas, and ten iterations w/ testing, plus never developing a physical product with CAD.
Last Friday, I got my first review, and over the past five days, I've generated £120 in revenue since then. I've sold eleven, and that's just from passive traffic. People are handing over their hard-earned money for this & It's about time this product comes to the surface instead of being buried in my progress thread. Here is the product I'm selling.
THE KEY PROBLEMS: Chemistry, especially organic chemistry, has many annoying shapes to draw. The pain points we have is:
A) It's hard to draw structures quickly AND make them look nice
B) When we look back on notes, we don't want to have the pain of trying to decipher a structure and
C) We want something to make organic chemistry fun to study. It's arduous - I found in my development of this product I enjoyed my organic chemistry classes far more because of the satisfying nature of the product. Other testers have said this too.
THE COMPETITORS:
I stumbled upon this product idea after not finding something specifically for my needs as a European university undergraduate.
All competitors had something good, but there was only something that encompassed some of what I was looking for.
Competitor One: High-Quality Stainless Steel, Compact, Slick design, USA Based & expensive (Cost £30 for the product and delivery)
Competitor Two: Lots of features, made of plastic, had some unnecessary shapes.
Competitor Three: Cool design, lacked intricate features for complex molecules.
The key opportunity here was to provide something for an EU market and add more features to competitor One.
MY ISSUE NOW
Now, this is a niche product. I know that. I'm selling this through Etsy and getting sales from people searching for a solution like this. My next goal is to put some marketing behind it. I've chosen influencer marketing (Instagram, tiktok) as I need my audience to be bunched up in one place & somewhere I know they'll go. I'm trying to go with a sniper approach.
I've been messaging some influencers, and one with 3M followers and 100k regular viewers quoted me £500 for a video. I have the capital for this and the extra orders coming through for it & I've calculated the breakeven for marketing to be about 100 stencils. But here is my dilemma:
The conservative investor part of me says, "No, do smaller, you only have 40 stencils left, plus you don't even know if you can handle such a massive order."
Then I have Kyle Keegan in the back of my head telling me to think big, then think bigger. A big part of me wants to plunge straight into this.
I know the forum can't make decisions for me; I'm just calling on anyone with experience with this sort of stuff.
Last Friday, I got my first review, and over the past five days, I've generated £120 in revenue since then. I've sold eleven, and that's just from passive traffic. People are handing over their hard-earned money for this & It's about time this product comes to the surface instead of being buried in my progress thread. Here is the product I'm selling.
THE KEY PROBLEMS: Chemistry, especially organic chemistry, has many annoying shapes to draw. The pain points we have is:
A) It's hard to draw structures quickly AND make them look nice
B) When we look back on notes, we don't want to have the pain of trying to decipher a structure and
C) We want something to make organic chemistry fun to study. It's arduous - I found in my development of this product I enjoyed my organic chemistry classes far more because of the satisfying nature of the product. Other testers have said this too.
THE COMPETITORS:
I stumbled upon this product idea after not finding something specifically for my needs as a European university undergraduate.
All competitors had something good, but there was only something that encompassed some of what I was looking for.
Competitor One: High-Quality Stainless Steel, Compact, Slick design, USA Based & expensive (Cost £30 for the product and delivery)
Competitor Two: Lots of features, made of plastic, had some unnecessary shapes.
Competitor Three: Cool design, lacked intricate features for complex molecules.
The key opportunity here was to provide something for an EU market and add more features to competitor One.
MY ISSUE NOW
Now, this is a niche product. I know that. I'm selling this through Etsy and getting sales from people searching for a solution like this. My next goal is to put some marketing behind it. I've chosen influencer marketing (Instagram, tiktok) as I need my audience to be bunched up in one place & somewhere I know they'll go. I'm trying to go with a sniper approach.
I've been messaging some influencers, and one with 3M followers and 100k regular viewers quoted me £500 for a video. I have the capital for this and the extra orders coming through for it & I've calculated the breakeven for marketing to be about 100 stencils. But here is my dilemma:
The conservative investor part of me says, "No, do smaller, you only have 40 stencils left, plus you don't even know if you can handle such a massive order."
Then I have Kyle Keegan in the back of my head telling me to think big, then think bigger. A big part of me wants to plunge straight into this.
I know the forum can't make decisions for me; I'm just calling on anyone with experience with this sort of stuff.
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