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This thread is to serve as a reflective log for my own journey.
Why am I doing this? So far, I've found my process to be a lonely one. Everybody in my life lives a normal conventional life. I have nobody to discuss my thoughts with or relate to. I hope this log will not only help me the writer reflect on my process in more depth, but will help you the reader in some way. And I would love if you would contribute your thoughts and advice throughout my journey, wherever I may end up!
Background:
Four months ago, I definitively decided to pursue and ultimately master Ecommerce/product branding. I chose Ecom/product branding because I was naturally drawn to it, and I believe many of my natural strengths align with it well. I still have occasional doubts whether this is 'the right path'. But right now I think its a better one than doing nothing!
I've done this while living at home and working a part time job that is relevant to my degree (relevant later). Since then, I found a product that I thought/think has potential and have been working on launching it. I've learnt so much already but I know I've only scratched the surface. Exciting!
Recently, I went through what I can only describe as a FTE. I can't remember a time I felt worse in my life. The trigger for this was fear of failure. With my first product I've been working on, I now realise I've gone about things backwards. I began by heavily focusing on the branding and product design etc, and later delved into the manufacturing of it. This means I already invested in the trademark + logo etc for the proposed brand before definitively confirming manufacturing viability.
But, by focusing on this before finalising manufacturer quotes, I have reached a possible roadblock that might stop this product from being viable. I've acquired several samples from different manufacturers and have found the only one that offers the high product quality I'm aiming for is charging the highest unit cost (which I guess makes sense). With my proposed branding, I have always planned to launch my product with a more premium position, as it is unfilled and I have soft proof that there is a market/need for this. However, this new discovery of my unit costs being higher than I planned for was combined with me underestimating product shipping costs and other misc costs. Great job past me!
Collectively, this caused a sudden state of panic to overwhelm me as I was faced with the possibility of my product not working for the first time. It was rough. I began questioning everything I was doing and if this was all a huge mistake. I wondered if I should have listened to my mother and pursued a career with my degree. This panic passed. I made it through. And the aftermath has been very insightful. I have gained MASSIVE clarity from this regarding:
(1) Comparative Immunity + Self Mastery:
Focusing on myself, my unique traits/background/genetics/mind etc is essential. For too long, I have obsessively compared myself to others, particularly success stories of people similar to my age. This has only caused me misery and created huge self inflicted pressure for me to succeed RIGHT NOW, to stop me feeling guilty and inadequate.
Following my FTE, I have definitively acknowledged and accepted that I must undergo my own unique process to achieve success. Instead of comparing myself and my process to others, I must maintain my focus on Self Mastery. What are the best actions to take FOR ME? What is the best choice to make FOR ME? What environment allows ME to work to my best and fulfil my full potential? What decisions align with MY priorities?
(2) Process > Event:
Linking to the above point of focusing on myself, this has allowed me to accept fully that success in Ecommerce/product branding will require a continuous process, involving many mistakes and failures.
This applies to any worthwhile venture in life - anyone who has achieved substantial success has went through a significant process!
Mistakes and failures are guaranteed and should be anticipated. The best thing to do is accept this. Become comfortable with the idea of failing! Use these mistakes and failures to guide your next product, and then your next, and then your next... until you hit a win.
(3) Opportunity Cost + Sacrifice:
Pursuing entrepreneurial success means I must acknowledge the relevant opportunity costs. For me, this involves not pursuing certain careers/further education so I can maintain focus on my business work.
This is essential to understand fully and I know I must come to terms with it, as it links to fear of failure.
'What if I never succeed in entrepreneurship and I waste my time, when I instead could have done that career?' - Fear of Failure
'What if I had succeeded in entrepreneurship instead of doing this career for 40 years?' - Fear of Regret
Which is greater?
Right now, I'm using this FTE and the gained clarity to reshape my approach. My current thoughts:
Still gonna get it launched as long as the manufacturer doesn't fall through. Will just have to pay extra attention to marketing and branding! WCCA is I launch the product and it doesn't sell at the higher price, so I drop prices and make a loss. I'm confident I could sell the product as I believe in the relative value offered. FYI, I'm launching on Amazon and intend to expand with Shopify store for social media marketing etc if validated on Amazon.
Planning on updating more regularly. Just writing this has helped me process things quite well! Any thoughts or insight you can offer is super appreciated!
Why am I doing this? So far, I've found my process to be a lonely one. Everybody in my life lives a normal conventional life. I have nobody to discuss my thoughts with or relate to. I hope this log will not only help me the writer reflect on my process in more depth, but will help you the reader in some way. And I would love if you would contribute your thoughts and advice throughout my journey, wherever I may end up!
Background:
Four months ago, I definitively decided to pursue and ultimately master Ecommerce/product branding. I chose Ecom/product branding because I was naturally drawn to it, and I believe many of my natural strengths align with it well. I still have occasional doubts whether this is 'the right path'. But right now I think its a better one than doing nothing!
I've done this while living at home and working a part time job that is relevant to my degree (relevant later). Since then, I found a product that I thought/think has potential and have been working on launching it. I've learnt so much already but I know I've only scratched the surface. Exciting!
Recently, I went through what I can only describe as a FTE. I can't remember a time I felt worse in my life. The trigger for this was fear of failure. With my first product I've been working on, I now realise I've gone about things backwards. I began by heavily focusing on the branding and product design etc, and later delved into the manufacturing of it. This means I already invested in the trademark + logo etc for the proposed brand before definitively confirming manufacturing viability.
But, by focusing on this before finalising manufacturer quotes, I have reached a possible roadblock that might stop this product from being viable. I've acquired several samples from different manufacturers and have found the only one that offers the high product quality I'm aiming for is charging the highest unit cost (which I guess makes sense). With my proposed branding, I have always planned to launch my product with a more premium position, as it is unfilled and I have soft proof that there is a market/need for this. However, this new discovery of my unit costs being higher than I planned for was combined with me underestimating product shipping costs and other misc costs. Great job past me!
Collectively, this caused a sudden state of panic to overwhelm me as I was faced with the possibility of my product not working for the first time. It was rough. I began questioning everything I was doing and if this was all a huge mistake. I wondered if I should have listened to my mother and pursued a career with my degree. This panic passed. I made it through. And the aftermath has been very insightful. I have gained MASSIVE clarity from this regarding:
(1) Comparative Immunity + Self Mastery:
Focusing on myself, my unique traits/background/genetics/mind etc is essential. For too long, I have obsessively compared myself to others, particularly success stories of people similar to my age. This has only caused me misery and created huge self inflicted pressure for me to succeed RIGHT NOW, to stop me feeling guilty and inadequate.
Following my FTE, I have definitively acknowledged and accepted that I must undergo my own unique process to achieve success. Instead of comparing myself and my process to others, I must maintain my focus on Self Mastery. What are the best actions to take FOR ME? What is the best choice to make FOR ME? What environment allows ME to work to my best and fulfil my full potential? What decisions align with MY priorities?
(2) Process > Event:
Linking to the above point of focusing on myself, this has allowed me to accept fully that success in Ecommerce/product branding will require a continuous process, involving many mistakes and failures.
This applies to any worthwhile venture in life - anyone who has achieved substantial success has went through a significant process!
Mistakes and failures are guaranteed and should be anticipated. The best thing to do is accept this. Become comfortable with the idea of failing! Use these mistakes and failures to guide your next product, and then your next, and then your next... until you hit a win.
(3) Opportunity Cost + Sacrifice:
Pursuing entrepreneurial success means I must acknowledge the relevant opportunity costs. For me, this involves not pursuing certain careers/further education so I can maintain focus on my business work.
This is essential to understand fully and I know I must come to terms with it, as it links to fear of failure.
'What if I never succeed in entrepreneurship and I waste my time, when I instead could have done that career?' - Fear of Failure
'What if I had succeeded in entrepreneurship instead of doing this career for 40 years?' - Fear of Regret
Which is greater?
Right now, I'm using this FTE and the gained clarity to reshape my approach. My current thoughts:
- The Self Mastery mindset shift genuinely makes me feel so much happier so quickly. Focusing on myself lets me determine what the best choices are for me, and has removed the immense pressure and guilt that loomed before. I must remind myself of this focus daily.
- By accepting that entrepreneurial success won't come straight away and takes significant process, I'm acknowledging that I may not achieve success with a product/brand for many months or years. This makes me think I need to change my currently unsustainable circumstances. I can't work a part time job and live at home forever! My previous comparative mindset made me feel desperate to achieve an instant buz success so I could quit my job... but now I'm accepting this may not happen and may take longer than I'd wish. So, my thoughts are to search for a full time job/career that would enable me to simultaneously pursue entrepreneurship.
- Not all jobs/careers would allow me to do this. So I would have to carefully select the job/career I do, to ensure I don't disrupt my buz work. I think this would be different for each person, as you the reader may find one job perfectly manageable alongside your buz work yet I might find it completely draining! I need to spend some time figuring out what jobs/careers I could do here.
- Fear of failure is definitely my worst enemy, I've known this for a long time. Truly overcoming this is my biggest challenge. If I can find a suitable job/career to do alongside my buz work, I think this would greatly reduce my fear of failure. I believe I can manage my fear of failure on a product by product basis by accepting the necessity for process. But the fear that I still feel lingering is about 'not doing well in life'. This comes from my own ambitions to succeed to look after my mother and family. I don't know how I can change this as I have felt this ambition since I can remember. As I write this, I wonder if this is instead one of my biggest strengths than a weakness? If I can truly become comfortable with failure during my Ecom/product branding process, then I could harness my fear of 'not doing well in life' to ensure I remain focused on Ecom ventures!
- I need to figure out a way to get past the Opportunity Cost dilemma. If I don't, I'll never shake the 'What if' fear of failure. Maybe focusing on the fear of regret for not pursuing entrepreneurship fully is the key here? A couple things that always comfort me about this are: (1) The thought that even a small Ecom success which grants me time freedom/flexibility would be better than a job/career I hate! (2) The career area my degree involves is one I can see being heavily disrupted by tech advancements like AI in the future, making me think job security is low and that I should search for alternative paths (like Ecom).
Still gonna get it launched as long as the manufacturer doesn't fall through. Will just have to pay extra attention to marketing and branding! WCCA is I launch the product and it doesn't sell at the higher price, so I drop prices and make a loss. I'm confident I could sell the product as I believe in the relative value offered. FYI, I'm launching on Amazon and intend to expand with Shopify store for social media marketing etc if validated on Amazon.
Planning on updating more regularly. Just writing this has helped me process things quite well! Any thoughts or insight you can offer is super appreciated!
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