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I've posted a couple of times, all on the same business model. The infamous "protein box" some of you might recognize. I'll provide context then ask if anyone has any advice or tips I should know going into my next venture. In other words, I need brutally honest business advice.
Context: I have been all in on my one business for the past six months. It is a protein subscription box that sends you a certain amount of protein powders, snacks, bars, shakes, etc., per month. I started out with no specific audience and ten protein products in the box (these products are bulk-sourced from other brands; these are not my own formulations but a mix of different brands' protein sample powders, bars, snacks, and shakes). Then I decided to add customization and the option to go to my website, answer questions, and get a type of box recommended to you (vegan box, snacking box, gym-goer box). Then, I decided to target specifically skinny males with the same model whilst also offering guides, recipes, tips, a whole program to gain weight and build muscle. Still, nope. Then I could offer the product in a box format of 1 protein per day of the month, but still, nope (margins not good enough, if any). I was marketing via TikTok, Instagram Reels, and Youtube Shorts through a brand account and being the fact of it because the last thing I can afford right now is paid marketing (college student in my last year barely making rent, also a finance major).
My issue is that I've spent the last few months re-reading Alex Hormozi's $100M offers book, trying to perfect what I'm offering. You know the whole "what would I charge if my price was 10x what it currently is" value equation, I could never figure out how to add so much value. I use ChatGPT daily to figure out ways to add more value to my boxes to keep margins acceptable. I never even made one sale (excluding one warm reach out to a friend who believed in me, but I'm not counting that as an actual sale). But for my life, I couldn't figure out how to be proud of what I was offering. I thought, "I have a good product, and I can see people paying for this," but never, "Other people would be stupid to say no to this offer." I posted in this forum 2 times with the same business, and many times I was told "This is not a good business model because x" and I would think, "Yeah, they're right; everything adds up and backs up their argument as to why this won't work," but then I kept on getting one sliver of hope and would go all in again on trying to make the idea work. I'm done with trying to ego-keep-afloat my business and turn it into a learning lesson. I'm passionate about the fitness/nutrition industry if that makes a difference in how advice is given. I am trying to see if there are ways I can salvage my LLC formation, business bank account, and trademark and stay in the same niche/industry to save me the money and hassle of getting them all already. I don’t see this all as a failure and waste of time and money but more as a huge learning opportunity.
So I ask whoever is reading this right now, if you have any tips, advice, or brutally honest criticism for me, I need to hear it. I want to ensure I go into my next endeavor with a much better process. I know why my business has not worked out, and I'm scrapping the model, but I'm curious if I missed anything in learning something new (the hard way, sadly). Thanks for reading this far, and let me have it!
Context: I have been all in on my one business for the past six months. It is a protein subscription box that sends you a certain amount of protein powders, snacks, bars, shakes, etc., per month. I started out with no specific audience and ten protein products in the box (these products are bulk-sourced from other brands; these are not my own formulations but a mix of different brands' protein sample powders, bars, snacks, and shakes). Then I decided to add customization and the option to go to my website, answer questions, and get a type of box recommended to you (vegan box, snacking box, gym-goer box). Then, I decided to target specifically skinny males with the same model whilst also offering guides, recipes, tips, a whole program to gain weight and build muscle. Still, nope. Then I could offer the product in a box format of 1 protein per day of the month, but still, nope (margins not good enough, if any). I was marketing via TikTok, Instagram Reels, and Youtube Shorts through a brand account and being the fact of it because the last thing I can afford right now is paid marketing (college student in my last year barely making rent, also a finance major).
My issue is that I've spent the last few months re-reading Alex Hormozi's $100M offers book, trying to perfect what I'm offering. You know the whole "what would I charge if my price was 10x what it currently is" value equation, I could never figure out how to add so much value. I use ChatGPT daily to figure out ways to add more value to my boxes to keep margins acceptable. I never even made one sale (excluding one warm reach out to a friend who believed in me, but I'm not counting that as an actual sale). But for my life, I couldn't figure out how to be proud of what I was offering. I thought, "I have a good product, and I can see people paying for this," but never, "Other people would be stupid to say no to this offer." I posted in this forum 2 times with the same business, and many times I was told "This is not a good business model because x" and I would think, "Yeah, they're right; everything adds up and backs up their argument as to why this won't work," but then I kept on getting one sliver of hope and would go all in again on trying to make the idea work. I'm done with trying to ego-keep-afloat my business and turn it into a learning lesson. I'm passionate about the fitness/nutrition industry if that makes a difference in how advice is given. I am trying to see if there are ways I can salvage my LLC formation, business bank account, and trademark and stay in the same niche/industry to save me the money and hassle of getting them all already. I don’t see this all as a failure and waste of time and money but more as a huge learning opportunity.
So I ask whoever is reading this right now, if you have any tips, advice, or brutally honest criticism for me, I need to hear it. I want to ensure I go into my next endeavor with a much better process. I know why my business has not worked out, and I'm scrapping the model, but I'm curious if I missed anything in learning something new (the hard way, sadly). Thanks for reading this far, and let me have it!
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