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Money Chasing and Action Faking to finally ACTION!

SRathwell

Contributor
Read Fastlane!
Read Unscripted!
Jun 26, 2017
15
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37
Ontario Canada
I joined this forum a few years ago after starting my first "Business". At the time I thought I was doing the right thing but it turns out I was doing a lot of money chasing. At that time I was too timid to post anything but I did do a lot of reading here. After that business failed I stopped reading here.

Fast forward a couple years and few more failed "Businesses" and a ton of action faking I decided something had to change.

So about a year and a half ago a friend came to me with an idea for a product. After a some discussion we decided to jump in! Both of us having engineering backgrounds the design and even prototyping came natural. What has not is EVERYTHING else to do with starting a business. But we have battled through it learning as we go.

After making more prototypes the I can even count, we were finally ready to seek manufacturing. (parts sourced from around the world but main components and assembled here in Canada) We tried the crowd funding thing but with NO marketing skills and an even smaller budget it failed. We decided to truck on anyways and produce a pilot lot of 30 pcs. (I will admit at this time I was having major doubts but my partner kept us strong and we kept moving forward).

About 6 months ago we were in a slump (lots of work and no feedback). I was back to doing a log of action faking. I saw and email pop up reminding me about this forum so I decided to come back at started reading a little more. I finally decided to read (listen to) Unscripted . It was exactly what I needed to get me back on track. As soon as I finished it I told my partner to read it as well. Since then we have been remodeling our business using the CENTS commands and things have never been better.

We just started selling our first pilot batch product a couple weeks ago and have already started getting sales! We are now in the process of sourcing our materials from the manufacturer in China and gearing up for our first real production run.

It have been one hell of a roller coaster ride and I am sure it going to be for a while. I just want to thank everyone here for the abundant amount of information. I have learned so much an hopefully I can return the favor in the future.
 
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SRathwell

Contributor
Read Fastlane!
Read Unscripted!
Jun 26, 2017
15
40
37
Ontario Canada
I just realized that I explained my story but really didn't introduce myself, so here it is.

I am 33 with a wife and 2 kids
I don't know why but from a young age I wanted to be an Engineer, I wanted to invent stuff.... So logically I eventually got my degree in Mechanical Engineering. While I was in school I interned with a local Aerospace manufacturer. I was offered a job before even finishing my degree, and there I was on the slow lane path without even realizing it.

After a few years in the 9-5 corporate world I knew I wanted more, to not be stuck in a day job forever. For a few years I did a lot of action faking a money chasing until I started with the business described above.

As of today, I am still working my day job to support my family while working my current business.
 

RazorCut

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May 3, 2014
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Welcome back and good luck with your current venture.
 
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SRathwell

Contributor
Read Fastlane!
Read Unscripted!
Jun 26, 2017
15
40
37
Ontario Canada
WOW. It is hard to believe it has been 4 years since I made that first post.

I just finished re-reading MJ's newest book and I though I would come back to the forum.

It has been heads down for the last 4 years. We have been slowly growing the business and aligning ourselves to be able to break out. In the last post we had just finished selling our pilot run of 30 units. It is now 4 years later, 500 sales later and over $300K in revenue. We currently have 3 products with a 4th and what I will call our breakout product just ready to launch!

Although neither of us are full time yet on this ( I am very close timewise, but have my income is provided from another stream, more on this in a second.) we positioned ourselves to have our current jobs be as advantages as possible for this business. Two years ago my co-founder actually took part ownership and over running a design firm that specializes in the products that we make. (He worked there for 10 years, 10+years ago before going to corporate world.) He has brought me into that company as well. This allows me to work 75% plus of my time on our business but have enough income from the other to support my family. This also allows us to to have full use of all the extremally specialized equipment including a 35 year veteran to run and interpret it, and a full design team to help out where needed.

Things are looking up, we are looking up, we are looking at doubling revenue again this year and are even in talks with Costco right now. It is amazing what putting your head down and just DOING will do.

I don't plan on keeping this thread up to date, but maybe in 4 more years I will update again. Hopefully by then I will be close to my 10 year planacy number and ready to cash out and live UNSCRIPTED !
 

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