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EXECUTION My 3rd attempt at creating a business. Finally have some sales.

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VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Hey everyone,

I don't contribute much to the forums but I decided to post a progress thread. I don't know how useful this will be to anyone, and to be frank i was pretty reluctant to post due to this, but if at least one person finds this insightful then i guess it works out.

Some background on myself and what i have been working on. I'm a 23 year old male who lives in Canada. To date i've started or attempted to start 3 businesses. I work full time which helps fund all my ventures but my true goal is to have one of those ventures take over and let me leave my day job.

Anyways, here's a quick recap of my business history.

B1: Beer business in a niche category, had a lot of interest and collected about 700 emails in a span of 3 weeks but due to strict regulations in my province, i have put this on the back burner for now. This is definitely a dream i want to pursue one day so i haven't let the idea fade completely.

B2: Cleaning business, i had a couple customers and made some money off this venture but i truly did not enjoy it nor see myself in this industry so i closed up shop. I realized i enjoyed building the website, brand, and processes around the business more than i enjoyed the actual day to day business activities.

B3 (Current): Amazon FBA. I know this source gets a bad rap because everyone and their grandma try to push some shitty product but i still think theirs opportunity to build something great on Amazon and beyond it. Currently placing all my focus on this.

What I've Done
I figured reading paragraphs is boring so hope the bullets make that easier.
  • Started researching my product in early August.
  • After about 2 weeks of speaking to suppliers, i decided to pursue my product. Order put in mid august.
  • Supplier was quick and within 2 weeks i had all my units manufactured and ready to get sent.
  • I wanted to make sure my first shipment was smooth so i hired a 3rd party inspection agency to inspect the items. To be honest, i was more concerned with making sure the factory was legit and that the product was actually there. They sent me a picture of the inspection dude standing in front of a factory with his thumbs up and a picture of the shipment. Good enough.
  • Im in Canada so i wanted the product to be shipped to me first before i export to the US. I know i pay more but for my product in the end but i want everything to go right the first time. Plus, i wanted to check the quality, add my logo, and add product inserts.
  • About a week later i get my product at the airport. I had to use a customs broker to clear the shipment and then me and my buddy went to go pick it up in my moms SUV (Thanks Mom!). My coupe just could not fit all of those boxes.
  • I proceeded to design a logo as well as the product insert that would go into each box. I also purchased a light box and did all my own photography and photo editing. Do this BEFORE your product comes and not AFTER.
  • The next couple of weeks were....fun. I decided it would be best that i look over each and every single unit, stick the logo, and insert the product guide. There were about 500 of them. 500 seemed like a joke at first but man did that take longer than i anticipated. I couldn't feel my thumbs in the end.
  • Finally have everything packed up and ready to ship to the states. Ended up using a company called Secureship who have partnerships with various carriers like UPS and FedEx which gives you a nice discount.
Today
My product launched officially 2 days ago. First day i sold 2 units and today i sold 7. Super pumped, nice to see all that hard work paying off. Im not out of the red yet and i dont have anywhere near the numbers some do on this forum, but damn does it feel good to see each sale go through.

I also want to thank @JAJT . I know i came out of the blue asking questions, but thanks for the insightful answers and huge help. I finally decided to post that progress thread after all ;)

Anyways, i'm not the best writer and i know all this blabber is missing tons of other info so if you guys have any questions, feel free to ask. Ill answer what i can.
 

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Last edited:
OP
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VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Congrats!

How much was your original investment into product?
Just product alone, 1750USD. Overall i've spent about 4300USD which includes inspections, packaging, customs, shipping to Canada and the States, as well as advertising. I've identified things i can make more efficient and cut costs on, so it will be a little cheaper second time around.
 

Nigel B

Life Long Learner
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 18, 2017
169
203
164
USA
Hey everyone,

I don't contribute much to the forums but I decided to post a progress thread. I don't know how useful this will be to anyone, and to be frank i was pretty reluctant to post due to this, but if at least one person finds this insightful then i guess it works out.

Some background on myself and what i have been working on. I'm a 23 year old male who lives in Canada. To date i've started or attempted to start 3 businesses. I work full time which helps fund all my ventures but my true goal is to have one of those ventures take over and let me leave my day job.

Anyways, here's a quick recap of my business history.

B1: Beer business in a niche category, had a lot of interest and collected about 700 emails in a span of 3 weeks, but due to strict regulations in my province, i have put this on the back burner for now. This is definitely a dream i want to pursue one day so i haven't let the idea fade completely.

B2: Cleaning business, i had a couple customers and made some money off this venture but i truly did not enjoy it nor see myself in this industry so i closed up shop. I realized i enjoyed building the website, brand, and processes around the business more than i enjoyed the actual day to day business activities.

B3 (Current): Amazon FBA. I know this source gets a bad rap because everyone and their grandma try to push some shitty product but i still think theirs opportunity to build something great on Amazon and beyond it. Currently placing all my focus on this.

What I've Done
I figured reading paragraphs is boring so hope the bullets make that easier.
  • Started researching my product in early August.
  • After about 2 weeks of speaking to suppliers, i decided to pursue my product. Order put in mid august.
  • Supplier was quick and within 2 weeks i had all my units manufactured and ready to get sent.
  • I wanted to make sure my first shipment was smooth so i hired a 3rd party inspection agency to inspect the items. To be honest, i was more concerned with making sure the factory was legit and that the product was actually there. They sent me a picture of the inspection dude standing in front of a factory with his thumbs up and a picture of the shipment. Good enough.
  • Im in Canada so i wanted the product to be shipped to me first before i export to the US. I know i pay more but for my product in the end but i want everything to go right the first time. Plus, i wanted to check the quality, add my logo, and add product inserts.
  • About a week later i get my product at the airport. I had to use a customs broker to clear the shipment and then me and my buddy went to go pick it up in my moms SUV (Thanks Mom!). My coupe just could not fit all of those boxes.
  • I proceeded to design a logo as well as the product insert that would go into each box. I also purchased a light box and did all my own photography and photo editing. Do this BEFORE your product comes and not AFTER.
  • The next couple of weeks were....fun. I decided it would be best that i look over each and every single unit, stick the logo, and insert the product guide. There were about 500 of them. 500 seemed like a joke at first but man did that take longer than i anticipated. I couldn't feel my thumbs in the end.
  • Finally have everything packed up and ready to ship to the states. Ended up using a company called Secureship who have partnerships with various carriers like UPS and FedEx which gives you a nice discount.
Today
My product launched officially 2 days ago. First day i sold 2 units and today i sold 7. Super pumped, nice to see all that hard work paying off. Im not out of the red yet and i dont have anywhere near the numbers some do on this forum, but damn does it feel good to see each sale go through.

I also want to thank @JAJT . I know i came out of the blue asking questions, but thanks for the insightful answers and huge help. I finally decided to post that progress thread after all ;)

Anyways, i'm not the best writer and i know all this blabber is missing tons of other info so if you guys have any questions, feel free to ask. Ill answer what i can.
Congrats - moving fast on this one, hope the momentum continues. At this rates you should be out of stock in under a week (3x per day). Seriously all the best with this, good inspiration to keep trying and also for speed from concept to product in marketplace.
 

MiguelHammond10

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jun 12, 2017
92
68
58
35
Seattle
Hey everyone,

I don't contribute much to the forums but I decided to post a progress thread. I don't know how useful this will be to anyone, and to be frank i was pretty reluctant to post due to this, but if at least one person finds this insightful then i guess it works out.

Some background on myself and what i have been working on. I'm a 23 year old male who lives in Canada. To date i've started or attempted to start 3 businesses. I work full time which helps fund all my ventures but my true goal is to have one of those ventures take over and let me leave my day job.

Anyways, here's a quick recap of my business history.

B1: Beer business in a niche category, had a lot of interest and collected about 700 emails in a span of 3 weeks, but due to strict regulations in my province, i have put this on the back burner for now. This is definitely a dream i want to pursue one day so i haven't let the idea fade completely.

B2: Cleaning business, i had a couple customers and made some money off this venture but i truly did not enjoy it nor see myself in this industry so i closed up shop. I realized i enjoyed building the website, brand, and processes around the business more than i enjoyed the actual day to day business activities.

B3 (Current): Amazon FBA. I know this source gets a bad rap because everyone and their grandma try to push some shitty product but i still think theirs opportunity to build something great on Amazon and beyond it. Currently placing all my focus on this.

What I've Done
I figured reading paragraphs is boring so hope the bullets make that easier.
  • Started researching my product in early August.
  • After about 2 weeks of speaking to suppliers, i decided to pursue my product. Order put in mid august.
  • Supplier was quick and within 2 weeks i had all my units manufactured and ready to get sent.
  • I wanted to make sure my first shipment was smooth so i hired a 3rd party inspection agency to inspect the items. To be honest, i was more concerned with making sure the factory was legit and that the product was actually there. They sent me a picture of the inspection dude standing in front of a factory with his thumbs up and a picture of the shipment. Good enough.
  • Im in Canada so i wanted the product to be shipped to me first before i export to the US. I know i pay more but for my product in the end but i want everything to go right the first time. Plus, i wanted to check the quality, add my logo, and add product inserts.
  • About a week later i get my product at the airport. I had to use a customs broker to clear the shipment and then me and my buddy went to go pick it up in my moms SUV (Thanks Mom!). My coupe just could not fit all of those boxes.
  • I proceeded to design a logo as well as the product insert that would go into each box. I also purchased a light box and did all my own photography and photo editing. Do this BEFORE your product comes and not AFTER.
  • The next couple of weeks were....fun. I decided it would be best that i look over each and every single unit, stick the logo, and insert the product guide. There were about 500 of them. 500 seemed like a joke at first but man did that take longer than i anticipated. I couldn't feel my thumbs in the end.
  • Finally have everything packed up and ready to ship to the states. Ended up using a company called Secureship who have partnerships with various carriers like UPS and FedEx which gives you a nice discount.
Today
My product launched officially 2 days ago. First day i sold 2 units and today i sold 7. Super pumped, nice to see all that hard work paying off. Im not out of the red yet and i dont have anywhere near the numbers some do on this forum, but damn does it feel good to see each sale go through.

I also want to thank @JAJT . I know i came out of the blue asking questions, but thanks for the insightful answers and huge help. I finally decided to post that progress thread after all ;)

Anyways, i'm not the best writer and i know all this blabber is missing tons of other info so if you guys have any questions, feel free to ask. Ill answer what i can.
congrats what have been the challengers so far?
 

MitchM

Act. Then Adapt.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 15, 2016
423
854
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24
Atlanta, GA
Just product alone, 1750USD. Overall i've spent about 4300USD which includes inspections, packaging, customs, shipping to Canada and the States, as well as advertising. I've identified things i can make more efficient and cut costs on, so it will be a little cheaper second time around.
Good luck man. My shipment is coming at the end of this month. Been working on the product for almost 4 months now. I'm excited and nervous :clench:
 
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Congrats - moving fast on this one, hope the momentum continues. At this rates you should be out of stock in under a week (3x per day). Seriously all the best with this, good inspiration to keep trying and also for speed from concept to product in marketplace.
I bought about 500 units so sadly i won't be out in a week. Would be quite the sale if i was though :). As from speed for concept, that was definitely my goal, i tried to get it out asap and i still kick myself that it took 3 months when i could have probably done it in 2.

congrats what have been the challengers so far?
Oh man, what wasn't a challenge? This is my first time doing anything FBA related so I had to learn it all for the first time. Having to figure out how to get my product from Canada to the US didn't make it any easier. If i was to pick though, it was probably finding that first product and pulling the trigger along with assessing suppliers and picking one to go ahead with. There was a lot of uncertainty and sending that initial payment was tough as i didn't know if i was going to get scammed. Importing into Canada from China was another one as i had to use a customs broker, which turned out to be a lot easier than i expected, but initially learning about it made my head spin. Now that i know more about all of this, second time around will be much easier.

Good luck man. My shipment is coming at the end of this month. Been working on the product for almost 4 months now. I'm excited and nervous :clench:
Thanks man, best of luck to you as well. Right now is probably the worst time because you're just waiting for the product to arrive and it feels like the progress somewhat stalls. I know that feeling, i just want to get it out there and start selling!
 

Striver

Bronze Contributor
Read Millionaire Fastlane
Mar 23, 2017
126
122
138
45
USA
Congrats - moving fast on this one, hope the momentum continues. At this rates you should be out of stock in under a week (3x per day).

One of us sucks at math! lol

@VisionNN, did you test the market with your product, or is it an already known seller?
 
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
One of us sucks at math! lol

@VisionNN, did you test the market with your product, or is it an already known seller?
I didn't test the market. There was a product that i thought i could improve on based on the reviews. I got my manufacturer to make the change and just took the plunge. That extra month that i took though, other competitors with the similar change started popping up. That's the one thing i kick myself for.

If i was to do it again though, i would order 100-200 units and see how those do first. Leaves you with more capital to try other things and it might seem less overwhelming.
 

Nigel B

Life Long Learner
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 18, 2017
169
203
164
USA
One of us sucks at math! lol
Just so people don't think my math is really that off.. @VisionNN sold 2 on the first day and 7 on the second. At 3 times the sales each day compounding (yep, rounded down), that does indeed sell out in less than a week (21, 63, 189, 567 but of course he's out of stock by then). Of course I was joking! But still hoping it happened - like the old UPS commercial.
 

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Striver

Bronze Contributor
Read Millionaire Fastlane
Mar 23, 2017
126
122
138
45
USA
I didn't test the market. There was a product that i thought i could improve on based on the reviews. I got my manufacturer to make the change and just took the plunge. That extra month that i took though, other competitors with the similar change started popping up. That's the one thing i kick myself for.

If i was to do it again though, i would order 100-200 units and see how those do first. Leaves you with more capital to try other things and it might seem less overwhelming.
Ah, man... that sucks! Did you discuss your plans elsewhere? Gotta be careful with people!
 

Striver

Bronze Contributor
Read Millionaire Fastlane
Mar 23, 2017
126
122
138
45
USA
Just so people don't think my math is really that off.. @VisionNN sold 2 on the first day and 7 on the second. At 3 times the sales each day compounding (yep, rounded down), that does indeed sell out in less than a week (21, 63, 189, 567 but of course he's out of stock by then). Of course I was joking! But still hoping it happened - like the old UPS commercial.
Gotcha! Wouldn't it be nice if that's how sales really worked! haha
 
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Ah, man... that sucks! Did you discuss your plans elsewhere? Gotta be careful with people!
I didn't speak to anyone, im sure the competition got the idea similar to how i did. They just read what people didn't like and improved on it.
 
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
My first update. It's been a week since i launched and here are the results. Overall im happy that i even made sales. Might not be the golden egg at 25 units a day, but its something.

WhatsApp Image 2017-10-18 at 1.17.19 AM.jpeg

My biggest struggle has been using PPC effectively to get sales while not going over budget. Im not in the red but i am barely making any profit. Im alright with that though, im more concerned with learning and optimizing than making a profit right now. I do see profits long term but its all about how well i optimize the current campaigns.
 
Last edited:
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Just wanted to post end of month results. Just short of 3k in a span of 3 weeks so 1 week short of a actual month. Sadly next month will most likely not be as good as my main competitor tanked his price and his product is definitely better so i had to lower my price. My hopes is he raises the price because he can definitely sell at a higher price point successfully, will in return help me raise mine back up to speed.

Currently doing research on the second product and possibly looking into wholesale.

 
Last edited:
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Forgot to post this due to being pretty busy but here are the official results for November. My second product finally arrived at the warehouse and im currently in the process of getting everything done for the listing. Should be launching in a couple days.

December might not be as good of a month for me as i am discontinuing the first product due to the improvements with the second product but i am looking at other products to expand the line now. Back to work now!

 
OP
OP
VisionNN

VisionNN

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 6, 2016
61
176
139
Happy new year to everyone! Hope the new years went by well. The last week of the year was one of the best weeks i had in sales. Sold over $2000 worth of product and ended the year great.

Couple things to note:
  • Total revenue was lower than the previous month due to running out of stock on product 1 in the second week.
  • Even though revenue was lower, net profit was higher than the previous month due to a better negotiated price per unit.
  • I originally said i would discontinue product 1 since product 2 is an improved version of that but product 1 is selling better than product 2 with lower ad spend so i reordered another 300 units just to see how well those go.
  • For anyone thinking of launching a product in Q4, my advice would be, dont. Leave it for Q1, way too many things going on in Q4 and your product will probably be swallowed in the noise. This pretty much happened with my second product even though its better than the first one. Traction has been much slower on product 2 and ad spend is higher too.
Will mostly likely discontinue the 2nd product and start looking for a 3rd product with better margins.

 

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