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Watering a New Brand - mdot's Hardware Startup and E-Commerce Progress Thread

A detailed account of a Fastlane process...

mdot

Always Improve.
FASTLANE INSIDER
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Speedway Pass
Dec 24, 2020
246
446
Ontario, Canada
at least 50% of my work from the past 6 months has been action faking/money chasing
Last night I was a bit deflated and just focused on the negatives, but I would be remiss if I didn't say that I think the other 50% was full of valuable learning experiences and real progress. For example:
  • I identified value skews of an existing set of product
  • I got some experience working with freelancers
  • I designed a brand identity and logo
  • I learned how to make a Wordpress site, with Woocommerce, MailCheat(Chimp) and a bunch of other plug-ins (even if I didn't end up using them much)
  • I learned how to use OptimizePress to make a landing page (and even modified it a bit to give me more information)
  • I learned how to use Shopify to create a basic store
  • I learned that in the future I'll probably prefer Shopify from the start
  • I learned how to set up and run Google and Facebook ads, as well as some tricks to increase CTR and better target audiences
  • My ads gave me a good idea of my target demographic - mostly women aged 30+
  • I produced a working prototype and added a new technology to my repertoire (e-paper)
  • I learned the hard lesson that I need to talk to customers, while only spending <$1000 to do so (rather than pushing through, spending more time and building $10k+ of inventory I'd never sell etc)
  • I've met and gotten some great advice from all you that have commented and DM'd me so far (as well as from many other forum posts)
  • Working this project has given me direction and inspired drive
  • I'm slowly learning to approach problems as an entrepreneur rather than an electronics hobbyist
  • I took action rather than waiting for the perfect idea to strike
 
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doster.zach

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
Oct 14, 2021
474
869
Missouri
You're right. I definitely can't compete on price. The cheapo meters that sell for $20 in stores are like $1 each on Alibaba. Value pricing is the only way to go.

I'm reminded of Alex Hormozi's quote from 100 Million Dollar Offers - "make them an offer so good they would feel stupid saying no". I need to know what customers are actually looking for to do this.
Lol yes, that’s exactly who I was thinking of. Haven’t read his book yet but his content is borderline addicting.
 

Tonci

Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Aug 29, 2021
31
60
Last night I was a bit deflated and just focused on the negatives, but I would be remiss if I didn't say that I think the other 50% was full of valuable learning experiences and real progress. For example:
  • I identified value skews of an existing set of product
  • I got some experience working with freelancers
  • I designed a brand identity and logo
  • I learned how to make a Wordpress site, with Woocommerce, MailCheat(Chimp) and a bunch of other plug-ins (even if I didn't end up using them much)
  • I learned how to use OptimizePress to make a landing page (and even modified it a bit to give me more information)
  • I learned how to use Shopify to create a basic store
  • I learned that in the future I'll probably prefer Shopify from the start
  • I learned how to set up and run Google and Facebook ads, as well as some tricks to increase CTR and better target audiences
  • My ads gave me a good idea of my target demographic - mostly women aged 30+
  • I produced a working prototype and added a new technology to my repertoire (e-paper)
  • I learned the hard lesson that I need to talk to customers, while only spending <$1000 to do so (rather than pushing through, spending more time and building $10k+ of inventory I'd never sell etc)
  • I've met and gotten some great advice from all you that have commented and DM'd me so far (as well as from many other forum posts)
  • Working this project has given me direction and inspired drive
  • I'm slowly learning to approach problems as an entrepreneur rather than an electronics hobbyist
  • I took action rather than waiting for the perfect idea to strike
Great post, congratulations on your progress!
That is the essence of the 3A method MJ talks about: act, asses, adjust. The important thing is just not to quit.
 

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