I just want to use this as a journal since I have funding to do an online business right now.
Here's a quick back story:
2005-2009 I was yo-yo in the internet marketing scene. Made a few bucks here and there and starting out affiliate marketing. I didn't make crazy money but let's just say my best day was $900 but I broke even because I couldn't figure out how to track. Probably had revenue of $5k in 2 weeks. Fell apart since money was my issue.
And as a college student at the time, I ran out of money since I was broke that time. My best profit day was $0 to $800. Sad to say that I did do a few blackhat but those days are well over.
Dropped out of the online marketing game and continued college since I didn't have enough funds. I went on a life adventure and traveled the world.
In 2012 up until now I used my hobby to gain followers on IG. I don't make money but I'm considered an influencer so I get a lot of free stuff
Jan. 2016 left my day job, went on a 2 week cruise and Feb 2016 joined a "start up" with 2 of my past co workers at the same day job. It's fun just 3 guys with 1.3 mil in revenue (2018 expected 1.6m) . Construction so don't think it's crazy money. Profit wasn't too much. But all went back to inventory so end of day nothing really was in the pockets. I don't get shares but life is pretty flexible. I thought it was unfair but this is where it became valuable because it inspired me to get out of it. Made more than my past day job.
----------
June 2017 - My fiancee and I opened up a salon which we bought from a lady and we put another 15k on improvements. Family funded. I thought it was the dumbest idea because there's 5 other salons next to each other. She said "I'd rather fail than not do anything" and that was the end of it.
Today, the salon has 5/5 stars on yelp 60+ reviews, profitable with 5 employees + myself who does the back end work. Debt is paid for in a year. No paid marketing
So...... I'm getting tired of the start up/ day job even though it's flexible and I have a say in everything. Got a bit depressed even though I have a lot going on and the best opportunities someone can get as a worker.
I just feel like I can do more and want to be 100% on my own.
Current working hours week is : Day Job = 50, Salon = 25-30
Online = 15-20 hours (4 hrs /week) and multi tasking during these 2 jobs above
The actual online business
I'll be doing this in phases.
Phase # 1 -
I want to dropship (aliexpress) this certain household product via facebook ads and shopify. Spent $80 on competitor products. Read a lot on how everything works with strategies .
Already got the product costs via Alibaba and I don't want to spend the $1,800 to meet the MOQs because I haven't proven it will sell yet. Competition isn't too bad and there's only a few companies who does FB ads for it. Again this is going to be brand.
End of the day this isn't a "get rich" quick scheme for me, its going to be long term, IF I get it to work.
Phase #2 - 1-4 months, Test Test Test. Budget $5,000 @ $1,000/month, additional $7,000 if needed so total $12,000 to risk. Going to be a bit careful and not to blow all this money. If I can get away with $10/day I will but we'll see.
My goal is to break-even or at least get close to it to see if it works. Since I have no numbers right now I have a lot unknowns. Scaling will be around this time.
Phase #3 If I do break even and get to scale, I will private label the product and get the first shipment by either Oct/Nov. I hope to get this during the holiday rush but I don't know yet. At the same time planning on getting this on Amazon FBA and getting all the necessary trademarks etc. I'm aware it may take even longer.
Phase #4 Scaling and getting more products in. There's a chance I can also work B2B for this and since I do have B2B sales experience I might be able to pull more traction there.
So far my set up is
Facebook Ads - Need creatives/video/Ad sets/ for Cold leads, retarget, etc
Influencers - Need to contact
Shopify - 50% done, need to take pics/video / ab cart/
To be continued when I get more into it.......
Here's a quick back story:
2005-2009 I was yo-yo in the internet marketing scene. Made a few bucks here and there and starting out affiliate marketing. I didn't make crazy money but let's just say my best day was $900 but I broke even because I couldn't figure out how to track. Probably had revenue of $5k in 2 weeks. Fell apart since money was my issue.
And as a college student at the time, I ran out of money since I was broke that time. My best profit day was $0 to $800. Sad to say that I did do a few blackhat but those days are well over.
Dropped out of the online marketing game and continued college since I didn't have enough funds. I went on a life adventure and traveled the world.
In 2012 up until now I used my hobby to gain followers on IG. I don't make money but I'm considered an influencer so I get a lot of free stuff
Jan. 2016 left my day job, went on a 2 week cruise and Feb 2016 joined a "start up" with 2 of my past co workers at the same day job. It's fun just 3 guys with 1.3 mil in revenue (2018 expected 1.6m) . Construction so don't think it's crazy money. Profit wasn't too much. But all went back to inventory so end of day nothing really was in the pockets. I don't get shares but life is pretty flexible. I thought it was unfair but this is where it became valuable because it inspired me to get out of it. Made more than my past day job.
----------
June 2017 - My fiancee and I opened up a salon which we bought from a lady and we put another 15k on improvements. Family funded. I thought it was the dumbest idea because there's 5 other salons next to each other. She said "I'd rather fail than not do anything" and that was the end of it.
Today, the salon has 5/5 stars on yelp 60+ reviews, profitable with 5 employees + myself who does the back end work. Debt is paid for in a year. No paid marketing
So...... I'm getting tired of the start up/ day job even though it's flexible and I have a say in everything. Got a bit depressed even though I have a lot going on and the best opportunities someone can get as a worker.
I just feel like I can do more and want to be 100% on my own.
Current working hours week is : Day Job = 50, Salon = 25-30
Online = 15-20 hours (4 hrs /week) and multi tasking during these 2 jobs above
The actual online business
I'll be doing this in phases.
Phase # 1 -
I want to dropship (aliexpress) this certain household product via facebook ads and shopify. Spent $80 on competitor products. Read a lot on how everything works with strategies .
Already got the product costs via Alibaba and I don't want to spend the $1,800 to meet the MOQs because I haven't proven it will sell yet. Competition isn't too bad and there's only a few companies who does FB ads for it. Again this is going to be brand.
End of the day this isn't a "get rich" quick scheme for me, its going to be long term, IF I get it to work.
Phase #2 - 1-4 months, Test Test Test. Budget $5,000 @ $1,000/month, additional $7,000 if needed so total $12,000 to risk. Going to be a bit careful and not to blow all this money. If I can get away with $10/day I will but we'll see.
My goal is to break-even or at least get close to it to see if it works. Since I have no numbers right now I have a lot unknowns. Scaling will be around this time.
Phase #3 If I do break even and get to scale, I will private label the product and get the first shipment by either Oct/Nov. I hope to get this during the holiday rush but I don't know yet. At the same time planning on getting this on Amazon FBA and getting all the necessary trademarks etc. I'm aware it may take even longer.
Phase #4 Scaling and getting more products in. There's a chance I can also work B2B for this and since I do have B2B sales experience I might be able to pull more traction there.
So far my set up is
Facebook Ads - Need creatives/video/Ad sets/ for Cold leads, retarget, etc
Influencers - Need to contact
Shopify - 50% done, need to take pics/video / ab cart/
To be continued when I get more into it.......
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
