I'll try to get straight to the point:
I've had many failed businesses in the past but I've finally had some success with my latest venture. Unfortunately, that venture is a dropshipping business. The reason I say unfortunately is because it's a dropshipping business that uses the whole AliExpress/Oberlo/Shopify combo, and not one that uses actual high quality suppliers (who are based in the same country as the business itself).
So you can see why I call myself a piece of sh*t (don't worry, I don't actually believe I am -- in fact, when it comes to my dropshipping business, I try to have the best customer service and highest quality products as possible... but there's a limit to 'quality' when it comes to AliExpress).
But this store actually started out as a testing ground for me. Long story short, I was a marketing consultant who wanted to try their hand at eCommerce, so naturally, I took the lowest risk path.
Surprisingly, I made decent money. About $970k in revenue in my first 6 months (20% of it being profit). But one thing I realized is that it wasn't the dropshipping model that made me successful, but it was the years of studying and mastering marketing that helped me.
Since it wasn't my intention to make this dropshipping store my main source of income in the first place, I've decided to take everything I've learned (and take the data I have from this store), and create an actual business that has staying power.
What actually got me to make this decision was when I read @MJ DeMarco's book (Unscripted ) and got to the Productocracy section. You see, when I started seeing the money come in (at first), I started to think that this would be my main business that brings in all the $$$ I've ever dreamed of. But then I read this section in MJ's book and I realized that this business wouldn't survive a single week if I stopped my advertising. Basically, I didn't have a truly fastlane business.
So I've decided to create a new business that will have such great products that my customers will be doing the marketing for me (through word of mouth, recommendations, referrals, etc.). And, obviously, that means I have to create a business that has both perceived and intrinsic value (which is the path I'm on right now).
I have a lot of things planned for the near future and I'm currently in the midst of working on my new store (which I've already validated using my current store -- if that makes sense), so that's what I'll be focusing on for the time being (I'll get into the details of all my past, current and future businesses in later posts/threads).
Anyway, not gonna lie, I think I joined this forum at the wrong time lol. Since it's so close to the beginning of the year, it makes me look like a New Year's Resolutioner. But trust me, I've been at this for years (and have failed many many times). The reason I've created this account right now though is because I finally have some free time since the holiday rush is over, I've actually been a lurker for a long time!
Okay, I think that's enough for my introduction. So I think I'll finish this post off with saying, THANK YOU, @MJ DeMarco!
I won't say you're the only reason why I'm somewhat successful today, but if I hadn't found your book (The Millionaire Fastlane ) when I was first starting on my entrepreneurial journey, then I wouldn't have gotten here so quickly (I'm guessing it woulda taken me at least 5 more years to get to this point).
So thank you! You're f*cking awesome, mane!
P.S. Along with the thank you, I also want to say, DAMN YOU, @MJ DeMarco! One of my dreams in life was to get so successful that I could write a book with all the information you'd need to become successful in life and hand it out to anyone who needs help on their entrepreneurial journey... but you beat me to it! Now I'm out here handing YOUR books out to friends and family (dat Productocracy tho). Damn it, MJ!
I've had many failed businesses in the past but I've finally had some success with my latest venture. Unfortunately, that venture is a dropshipping business. The reason I say unfortunately is because it's a dropshipping business that uses the whole AliExpress/Oberlo/Shopify combo, and not one that uses actual high quality suppliers (who are based in the same country as the business itself).
So you can see why I call myself a piece of sh*t (don't worry, I don't actually believe I am -- in fact, when it comes to my dropshipping business, I try to have the best customer service and highest quality products as possible... but there's a limit to 'quality' when it comes to AliExpress).
But this store actually started out as a testing ground for me. Long story short, I was a marketing consultant who wanted to try their hand at eCommerce, so naturally, I took the lowest risk path.
Surprisingly, I made decent money. About $970k in revenue in my first 6 months (20% of it being profit). But one thing I realized is that it wasn't the dropshipping model that made me successful, but it was the years of studying and mastering marketing that helped me.
Since it wasn't my intention to make this dropshipping store my main source of income in the first place, I've decided to take everything I've learned (and take the data I have from this store), and create an actual business that has staying power.
What actually got me to make this decision was when I read @MJ DeMarco's book (Unscripted ) and got to the Productocracy section. You see, when I started seeing the money come in (at first), I started to think that this would be my main business that brings in all the $$$ I've ever dreamed of. But then I read this section in MJ's book and I realized that this business wouldn't survive a single week if I stopped my advertising. Basically, I didn't have a truly fastlane business.
So I've decided to create a new business that will have such great products that my customers will be doing the marketing for me (through word of mouth, recommendations, referrals, etc.). And, obviously, that means I have to create a business that has both perceived and intrinsic value (which is the path I'm on right now).
I have a lot of things planned for the near future and I'm currently in the midst of working on my new store (which I've already validated using my current store -- if that makes sense), so that's what I'll be focusing on for the time being (I'll get into the details of all my past, current and future businesses in later posts/threads).
Anyway, not gonna lie, I think I joined this forum at the wrong time lol. Since it's so close to the beginning of the year, it makes me look like a New Year's Resolutioner. But trust me, I've been at this for years (and have failed many many times). The reason I've created this account right now though is because I finally have some free time since the holiday rush is over, I've actually been a lurker for a long time!
Okay, I think that's enough for my introduction. So I think I'll finish this post off with saying, THANK YOU, @MJ DeMarco!
I won't say you're the only reason why I'm somewhat successful today, but if I hadn't found your book (The Millionaire Fastlane ) when I was first starting on my entrepreneurial journey, then I wouldn't have gotten here so quickly (I'm guessing it woulda taken me at least 5 more years to get to this point).
So thank you! You're f*cking awesome, mane!
P.S. Along with the thank you, I also want to say, DAMN YOU, @MJ DeMarco! One of my dreams in life was to get so successful that I could write a book with all the information you'd need to become successful in life and hand it out to anyone who needs help on their entrepreneurial journey... but you beat me to it! Now I'm out here handing YOUR books out to friends and family (dat Productocracy tho). Damn it, MJ!
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