Jeffakston
New Contributor
I had an Amazon PL business that burned bright (11 months to $1 million) and peaked at $2.5MM in 2017, but due to a variety of apes and the race to the bottom, it's not worth it to even send inventory there anymore. I have products with thousands of legit 4+ star reviews (never gave products away for reviews), but the product I started selling for $35, is now selling for $15. But during that time, my wife wanted to do her own ecom thing so I set her up.
When my business died, I had to get a 9-5 job, which I despised. That was one reason why I kind of ignored her biz. She was on Shopify and all my experienced was on Amazon. I'd tried some FB ads, but could never do it profitably. So from 2016-March 2020, we averaged a steady $2k a month in revenue. She was focused on launching new products (we have 40+) that she designs (fashion) and we built up our inventory to an irresponsible level. Her parents own an empty building that we have been able to use as a warehouse, so that limited our exposure to inventory just sitting forever.
Then in April, I tried a new strategy on FB ads (a simple catalog ad optimized for purchase to a lookalike audience of customers) and it blew up. Sales went from $75 a day in March, to $1,000 a day in April to $2k a day in May, to $3k a day in June (until we predictably got hit with inventory issues). We placed more, but we won't get it until July, so I am kind of in a holding pattern, setting up some new ads and figuring out email marketing and some other stuff while I wait for more inventory.
The business that was worth basically nothing 4 months ago, will very probably do over $500k this year and $2MM next year. I neither have nor want any employees. My entire goal will be to strategically outsource things to free up time. I am not on this forum to find consultants to hire. I am not on this forum to position myself to sell my services to any of you. I will never ever do that. Ever. I guarantee. I will never sell a class or "system" or whatever.
I am a solo entrepreneur and am just looking for an active forum of people in a similar spot where I am drinking from a firehouse trying to figure out all the marketing, financial, and operational issues that go along with growing this thing.
When my business died, I had to get a 9-5 job, which I despised. That was one reason why I kind of ignored her biz. She was on Shopify and all my experienced was on Amazon. I'd tried some FB ads, but could never do it profitably. So from 2016-March 2020, we averaged a steady $2k a month in revenue. She was focused on launching new products (we have 40+) that she designs (fashion) and we built up our inventory to an irresponsible level. Her parents own an empty building that we have been able to use as a warehouse, so that limited our exposure to inventory just sitting forever.
Then in April, I tried a new strategy on FB ads (a simple catalog ad optimized for purchase to a lookalike audience of customers) and it blew up. Sales went from $75 a day in March, to $1,000 a day in April to $2k a day in May, to $3k a day in June (until we predictably got hit with inventory issues). We placed more, but we won't get it until July, so I am kind of in a holding pattern, setting up some new ads and figuring out email marketing and some other stuff while I wait for more inventory.
The business that was worth basically nothing 4 months ago, will very probably do over $500k this year and $2MM next year. I neither have nor want any employees. My entire goal will be to strategically outsource things to free up time. I am not on this forum to find consultants to hire. I am not on this forum to position myself to sell my services to any of you. I will never ever do that. Ever. I guarantee. I will never sell a class or "system" or whatever.
I am a solo entrepreneur and am just looking for an active forum of people in a similar spot where I am drinking from a firehouse trying to figure out all the marketing, financial, and operational issues that go along with growing this thing.
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