- Banned
- #9
Hello fellow members
6 months ago, i started a small company called GLOWUP.BE in Belgium
I bought LED lights from china and tried to sell them on the belgian market place.
I made a webshop and made some ads true (some kind of craigslist) and facebook.
After a few months of no sound and only a few sells, i actually gave up a littly bid.
FYI, this all happend before, i read the book. In the mean time, i learned already a lot.
Now I read the book, i have some new ideas of how i can promote the products but i also realised that the products are not fantastic. I created als some new ideas
for a totally new business. But now, i would do it alone(glowup.be was with a partner)
Please if you have the time. Have a look at the site www.glowup.be and let me know, if i need to continue to put energy and time in this or not or start again with a new road.
We still have some products left from the previous order, so i would like to lose them before i shut it down.
i would appriciate your comment
Thanks
You can't make big money selling LED's unless you sell to residential consumers in mass volume, or use the strategy that I prefer: sell to commercial building owners. Contracts for building-wide retrofits range from the low six figures and span well into the millions, depending on the size of the property.
The LED industry is a global market. Don't limit your thinking to the Belgian market alone. Focus on highly industrialized areas of the world with a culture that's behind the times (i.e. the state of Ohio in the United States). LED has very low market penetration in markets like this. Get a call list and attack.
Also, don't make the mistake of trying to control every aspect of the process. This is seriously the most common and most boneheaded mistake that newbs make. What makes you think that you can source material better than the veterans in the game? It's a profoundly moronic move to make, and it strikes me as tacitly arrogant.
In reality, this is good news for you, because it means that you can save your money by simply partnering with the right LED supplier(s). They manufacture. They have the DLC-approval. They have the warranties. They hold the inventory.
The whole point of this is to eventually be able to walk away from the business, remember? Don't start off on the wrong foot by making all sorts of unnecessary attachments.