I think I was bit by the obsession bug...
At the beginning of December last year, I had an idea for a company come to my mind. An E-com venture firm that owns lots of E-com brands, and have those brands offer quality products, quality service, and quick shipping to our customers. Almost like a venture capital firm, except for we own 100% of each business, and have complete control of all the operations. The goal is to become the biggest E-com business in the country, with dozens/hundreds of well known E-com brands that people buy from often.
For some back story, I've had previous success in the E-com industry, and that's where I got my money to start this business.
We tried launching our first brand in early January, that failed because we were duped by the manufacturer, and they lied about their products being made in the U.S. so we liquidated the inventory, and moved on.
My business partner(my cousin) and I, kept trying to think of what to launch next for our first company. In February I discovered a nifty little website called acquire.com which allows you to purchase E-com businesses for sale. They have all the businesses data in the listing, and they make it really quick and easy to buy these businesses. We looked at which business we wanted to acquire, and we ended up buying 2 of them. The purchasing period only took two weeks which was really dope.
While we were waiting for us to close on those businesses, I got two business ideas we should start, and started talking to manufacturers about getting the products manufactured. Those two products are now being manufactured as I write this. So we will soon have 4 separate brands under our portfolio. We closed on the other two businesses a couple of weeks ago.
now for the reason of writing this post
I am now obsessed with E-com, and learning everything about it, and constantly thinking about the business. I have found software that allows us to track all of our websites in one central software, it tells us our expenses, our revenue, our profit, our roas on our ads, all sorts of information. I also found a tool that gives me access to the metrics of all 18 million websites in the U.S. I filter it to E-com stores, and it shows me every E-com store in the U.S. What do I do with this information? I look at there metrics like their conversion rates, bounce rates, their monthly traffic, what percentage oft the traffic is organic and paid, their demographics. Things like that, and I study their websites, their landing pages, and their product pages. I examine websites for hours taking notes on how to improve our companies websites and ads. It also tells me their ranking in the U.S. based off of monthly traffic. I can literally look at any business with this tool. Which will be very helpful when we start acquiring more well known E-com brands, the tool will make it easier for us to find them, and their metrics. Every video I consume, is something related to E-com, and business. All the books I'm reading are related to business and self help(which I've been doing for years, but it feels more meaningful now)
Literally last night, I was looking at websites footers for 3 hours, just to see how we can improve our stores website footers. I am working on the business 13 hours a day, and I love it. I don't get tired or burnt out, and I have like this hunger feeling to keep working. I have made the parents company website. So when E-com business owners would like us to acquire, or invest in their business, they can just fill out an inquiry, and we'll get back to them.
I'm always thinking of future ideas to implement into the business to add more value to our customers, and make them want to buy more products from us, and purchase from our variety of different brands more often.
This type of dedication is making me very knowledgeable on what E-com stores, and what ads should look like, and because of this. I have doubled the revenue on one of the businesses we acquired, and tripled the revenue on the other one. We're also spending less on ads then the previous owners were. I just made some modifications to the site, and ads.
I'm going to keep you guys updated on the company is doing. Till then, I do have a question.
For those of you who have created successful businesses, did you have the type of obsession I'm discussing, were you hungry to be the best, and the biggest business in your industry? Even though I've had success in the past, I've never had this type of diligence and focus on a business. I look forward to seeing your thoughts and comments.
Thanks,
At the beginning of December last year, I had an idea for a company come to my mind. An E-com venture firm that owns lots of E-com brands, and have those brands offer quality products, quality service, and quick shipping to our customers. Almost like a venture capital firm, except for we own 100% of each business, and have complete control of all the operations. The goal is to become the biggest E-com business in the country, with dozens/hundreds of well known E-com brands that people buy from often.
For some back story, I've had previous success in the E-com industry, and that's where I got my money to start this business.
We tried launching our first brand in early January, that failed because we were duped by the manufacturer, and they lied about their products being made in the U.S. so we liquidated the inventory, and moved on.
My business partner(my cousin) and I, kept trying to think of what to launch next for our first company. In February I discovered a nifty little website called acquire.com which allows you to purchase E-com businesses for sale. They have all the businesses data in the listing, and they make it really quick and easy to buy these businesses. We looked at which business we wanted to acquire, and we ended up buying 2 of them. The purchasing period only took two weeks which was really dope.
While we were waiting for us to close on those businesses, I got two business ideas we should start, and started talking to manufacturers about getting the products manufactured. Those two products are now being manufactured as I write this. So we will soon have 4 separate brands under our portfolio. We closed on the other two businesses a couple of weeks ago.
now for the reason of writing this post
I am now obsessed with E-com, and learning everything about it, and constantly thinking about the business. I have found software that allows us to track all of our websites in one central software, it tells us our expenses, our revenue, our profit, our roas on our ads, all sorts of information. I also found a tool that gives me access to the metrics of all 18 million websites in the U.S. I filter it to E-com stores, and it shows me every E-com store in the U.S. What do I do with this information? I look at there metrics like their conversion rates, bounce rates, their monthly traffic, what percentage oft the traffic is organic and paid, their demographics. Things like that, and I study their websites, their landing pages, and their product pages. I examine websites for hours taking notes on how to improve our companies websites and ads. It also tells me their ranking in the U.S. based off of monthly traffic. I can literally look at any business with this tool. Which will be very helpful when we start acquiring more well known E-com brands, the tool will make it easier for us to find them, and their metrics. Every video I consume, is something related to E-com, and business. All the books I'm reading are related to business and self help(which I've been doing for years, but it feels more meaningful now)
Literally last night, I was looking at websites footers for 3 hours, just to see how we can improve our stores website footers. I am working on the business 13 hours a day, and I love it. I don't get tired or burnt out, and I have like this hunger feeling to keep working. I have made the parents company website. So when E-com business owners would like us to acquire, or invest in their business, they can just fill out an inquiry, and we'll get back to them.
I'm always thinking of future ideas to implement into the business to add more value to our customers, and make them want to buy more products from us, and purchase from our variety of different brands more often.
This type of dedication is making me very knowledgeable on what E-com stores, and what ads should look like, and because of this. I have doubled the revenue on one of the businesses we acquired, and tripled the revenue on the other one. We're also spending less on ads then the previous owners were. I just made some modifications to the site, and ads.
I'm going to keep you guys updated on the company is doing. Till then, I do have a question.
For those of you who have created successful businesses, did you have the type of obsession I'm discussing, were you hungry to be the best, and the biggest business in your industry? Even though I've had success in the past, I've never had this type of diligence and focus on a business. I look forward to seeing your thoughts and comments.
Thanks,
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