Jason's How to Build Wealth & Golden Nuggets

[wilddog]

Seems a little bit better to help people here at the Fastlane forum than the reception you got on Reddit, eh?

They only want help from people with successful Apps and Teespring campaigns.

 

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[pcharles]

5b - that article can make anyone who uses it an effing zillionaire!

Some real nuggets in here already, and it's barely 2 hours old. Good stuff, @JasonR

Be product agnostic.

I don't care what I sell. As long as it sells.

Your passion won't bring you wealth (usually).

Be passionate about business and the process, and you will be successful.

Oh, you like to Snowboard, so you're going to build a snowboard e-commerce business. Your passion is NOT reason to go into business. I lost 8 months and made 0 sales attempting following my "passion" when deep down I didn't how how to add value in this particular market.

"Your passion won't bring you wealth (usually).

Be passionate about business and the process, and you will be successful."

Best piece of advice I've read in a looooooong time!

 

[StayPositive]

@JasonR,

You're a rock star!

Such a short thread, such a dose of know-how and inspiration!
I can't add anything substantive right now, maybe in the few months I will pay it back.

Thank you!

 

[Sean Corroon]

Looking forward to hearing more from you Jason. Thanks for your contribution !

 

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[bboyu]

First post.

So, you want to build an internet business? After going through what I did in the past 6-7 months, here's what I've learned.

1. Pick a LARGE market. I don't like super-niche markets.

2. Don't reinvent the wheel. You don't have to.

5b. Build a funnel, not an e-commerce store. I lost about $2k and 2 months learning this the hard way. Read this article.

Hey Jason can you delve a bit more into the process of finding a viable market to get into and how to do the research at the beginning if you want to establish a brand? What if you're starting on ebay and are used to just selling anything? But you don't want to open a "we sell anything and everything type of a store" how do you transition to your own ecommerce store?

Is your premise looking for a profitable product to sell? as you said you don't care what you sell? or are you "looking for a need" then go find a product that fits that need to provide the "value" component?

When you say build a funnel not an ecommerce store Is that for scalability purposes so you don't look for that one sale but multiple sales per customer? Do you think a niche which lends itself to accessories or other "things" which complement the product is a good way to sell more? How do you personally build a funnel around a physical product ecommerce store?

 

[LightHouse]

Yyyupppp. Gone get em boy.

 

[100k]

Thanks for sharing digital marketer.... thats a nice little gem you've shared there!

Thanks again for the tips and all the best.

 

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[JasonR]

Never take a guru, best friend's word, etc. when you ask them if your product will sell.

They AREN'T your market.

In fact, today, I had a friend shoot me an interesting link. They had seen my product on a dog, and asked the owner what they paid for it. He scoffed, and said, you paid $20 for THAT? He then went on a diatribe about how he could set up a business to do what I'm doing, blah blah, but it all wouldn't worth it because the product won't sell.

Well, I've got over 7k customers in the last 7 months (and I'm going to be moving even FASTER).

He's NOT my market.

If you ask me if I think XXX product will sell, and I'm not your target market, should you really be asking me?

Long story short: always test the market with your idea.

You may not know your demographics when you start, but you sure as hell will when you're up and selling.

 

[JasonR]

Sales are the life blood of any new business.

Without sales, your business dies.

I made sales before forming an LLC, or doing anything the "right" way. When I had money, I fixed all these.

Having a metric F*ck ton of sales will PAY for your mistakes. Because you're going to make them. Consider them a lesson.

I can't count how many mistakes I made.

Sales & cash are the life blood of any new business.

Without them, you sink.

 

[JasonR]

Bootstrapping.

Some people have this grandiose idea that you have to have a ton of cash to start a business.

Well, that may or may not be true.

See, Rome wasn't built in a day.

You can't build a million dollar business without first building a thousand dollar business.

I started with very little capital, a printer (LOL), and a computer.

I worked a job, came home, and went back to work. Sometimes getting very little sleep.

I was profitable in ONE month.

I netted over 30% margins in 2013, 3-4 months after I started.

You don't need to ask for ton of cash to get going.

Edited to add: We launched in July. I had been working on the idea for much longer.

Remember, this isn't your first deal. Once you have some success under your belt, the next one will BE much faster.

Because people have seen your success.

Because you've done it before.

Because you've grown your ninja network.

 

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[JasonR]

One of my favorite quotes from @zen*******

"Do you want to be right, or do you want to be rich?"

You can choose one or the other, but not both.

 

[DavidofMN]

And you people thought Jason was joking about how much a metric F*ck ton (of sales) was. It's real.

Now go get ONE Sale. One PAYING Customer. Not a business card or website. A SALE! Go NOW!

 

[million$$$smile]

Simple and concise,

just takes work

Keep it coming!

You rock!

 

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[Catalyst]

+Rep

 

[Vagabond 007]

Already a great thread! Looking forward to future posts.


@JasonR - QUESTION...Are you doing anything with people who don't buy...re-targeting or do you happen to capture their email in some way so you can follow up?

Also - How are you collecting payments? I'm getting ready to sell a product but I'm getting to caught up in how I'm going to collect payments. I've sold using PayPal before but I don't like how customers have to leave your site for that. Was doing research on merchant accounts/e-commerce sites and what not and they all seem to have pros and cons.

 

[pcharles]

Already a great thread! Looking forward to future posts.


@JasonR - QUESTION...Are you doing anything with people who don't buy...re-targeting or do you happen to capture their email in some way so you can follow up?

Also - How are you collecting payments? I'm getting ready to sell a product but I'm getting to caught up in how I'm going to collect payments. I've sold using PayPal before but I don't like how customers have to leave your site for that. Was doing research on merchant accounts/e-commerce sites and what not and they all seem to have pros and cons.

Vagabond 007,
When I was selling online before I thought the same thing "What will people think if I redirect them to PayPal" & wasted a bunch of time.
Honestly, it doesn't make a difference. Think of all the huge online stores you've been to that have a Paypal payment option. They redirect you to PayPal & you don't even think twice. Not to mention that most people are accustomed to doing it already. You also look more like a real business & people will use the PayPal association as a credibility indication while also feeling safer when buying (as compared to your site, which they may/may not have heard of before).
So make progress & more importantly: SALES, & focus on beefing up your payment processor when you have a proven track record of success.

 

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[JasonR]

TIFU (Today I f*cked up) by...

Stayed up until 3 am working on a few upsell pages.

Had a 7 am meeting.

Missed it.

Next time, don't turn on my phone on silent and get more SLEEP.

Personal F*ck up today.

 

[Vigilante]

TIFU (Today I f*cked up) by...

Stayed up until 3 am working on a few upsell pages.

Had a 7 am meeting.

Missed it.

Next time, don't turn on my phone on silent and get more SLEEP.

Personal F*ck up today.

Welcome to the club. There was a full moon last night. The world is off kilter today.

No excuses. We expect more of each other than the way today started. On your count and mine.

Keep pressing.

 

[bboyu]

Hey @JasonR can you elaborate a little for me regarding the questions i asked in the post?

Great thread

 

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[JasonR]

Hey @JasonR can you elaborate a little for me regarding the questions i asked in the post?

I don't have the time to respond to every personal question here - so if I didn't answer it - don't be offended.

If you read the first post, this is more of a dumping ground to get things out of brain and onto paper (web?).

Your questions can be easily answered by doing more research, and spending 1-2 hours a day on this very forum for at LEAST 2-3 months.

 

[bboyu]

I don't have the time to respond to every personal question here - so if I didn't answer it - don't be offended.

If you read the first post, this is more of a dumping ground to get things out of brain and onto paper (web?).

Your questions can be easily answered by doing more research, and spending 1-2 hours a day on this very forum for at LEAST 2-3 months.

I appreciate you replying @JasonR. I understand but I'm just trying to learn from your mistakes and your knowledge as you suggested. If you can please shed some light It would really help me move forward as I'm trying to start with the end in mind and break it all down into daily steps, I didn't get offended whatsoever I assure you.

As my questions are very specific to

Be product agnostic.
I don't care what I sell. As long as it sells

and your point about creating funnels, I think a lot of us will benefit from your insights on this.

I am always on this forum asking and learning I assure you. I am getting everybody's opinions and methods so then I can pave my own path using the "common sense" I have gathered from here because there are consistencies in a lot of you successful guys do...so there is a method to the madness.

Please do shed some light on the questions you'd really help me and other newbies out.

 

[jon.a]

I appreciate you replying @JasonR. I understand but I'm just trying to learn from your mistakes and your knowledge as you suggested. If you can please shed some light It would really help me move forward as I'm trying to start with the end in mind and break it all down into daily steps, I didn't get offended whatsoever I assure you.

As my questions are very specific to and your point about creating funnels, I think a lot of us will benefit from your insights on this.

I am always on this forum asking and learning I assure you. I am getting everybody's opinions and methods so then I can pave my own path using the "common sense" I have gathered from here because there are consistencies in a lot of you successful guys do...so there is a method to the madness.

Please do shed some light on the questions you'd really help me and other newbies out.

Don't make @JasonR wish that he hadn't started this thread. Read more, ask for less.

 

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[DavidofMN]

@bboyu - I think Jason is telling you to do the research and read the forum. The answers you seek and more are there waiting to be found by you! Do yourself a favor and read and research and learn to ask very good questions - those will get answered. Also, learn by doing, taking action. Just start.

Product agnositc - the product doesn't matter. The process matters. Learn the process and plug in different products until you have a winner.

The funnel will matter once you have some sales. Do you have any sales? Get one of those first then worry about a funnel.

 

[AllenCrawley]

Please do shed some light on the questions you'd really help me and other newbies out.

You sure a persistent fella, aren't ya? I actually admire that but do understand that @JasonR is hyper busy building a huge company at the moment. For someone that he doesn't know and hasn't provided any value to him personally to insist on sharing more than he already has is a big turnoff.

Great thread Jason! Keep it up!

 

[ddall]

Thanks for sharing Jason. I recall your "printer throwing" post and image.

I had a negative stint with SEO a few years ago, briefly profiting $300-400/ day, after months of hyper intensive learning (prior to my obsessive pursuit of success/self-education, I even lacked the knowledge of registering a domain name). Of course, like many others Google slapped my months of arduous labour down to the ground and stomped on it. FL 101 - SEO violates the law of control. HUGELY.

Because of Biophase and Vigilante I am pursuing a more sustainable process with import arbitrage/product-brand creation. I am also in the process of learning media buying, and it sounds like you have combined both concepts/strategies to maximize your profit. Congrats, and thanks again for sharing.

 

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[ZCP]

The question is, will @bboyu take the challenge?..... will he go find answers to each of his questions and report them back here?.......doing so would see a large portion of rep coming his way and possibly kickstart someone who is further back on the path than he now is........

 

[rogen]

Thanks @JasonR for sharing your knowledge.. It brings me closer to FINALLY starting my own business.. (currently stuck on finding big market through alexa)

 

[rkmalo1]

Hey Jason can you delve a bit more into the process of finding a viable market to get into and how to do the research at the beginning if you want to establish a brand? What if you're starting on ebay and are used to just selling anything? But you don't want to open a "we sell anything and everything type of a store" how do you transition to your own ecommerce store?
Is your premise looking for a profitable product to sell? as you said you don't care what you sell? or are you "looking for a need" then go find a product that fits that need to provide the "value" component?
When you say build a funnel not an ecommerce store Is that for scalability purposes so you don't look for that one sale but multiple sales per customer? Do you think a niche which lends itself to accessories or other "things" which complement the product is a good way to sell more? How do you personally build a funnel around a physical product ecommerce store?

I'll point you in the right direction:

https://www.thefastlaneforum.com/community/threads/ask-me-about-ecommerce.38312/

this thread answers most if not all of your questions.

 

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[randomnumber314]

Seems a little bit better to help people here at the Fastlane forum than the reception you got on Reddit, eh?

Some of us took the hint, bought the book, and are actually doing something. Others...well, they're still over at reddit being angry.

 

[Revoked]

Some of us took the hint, bought the book, and are actually doing something. Others...well, they're still over at reddit being angry.

I came over from that reddit thread too!