It's been a while since I've posted on here.
In all honesty, my first business, Amazon FBA, failed.
It definitely was an eye-opener for me. When I heard about the failure rate, I initially thought "that's not going to be me, no way in hell. I know I'm smart and I know I am willing to surpass any learning curve."
Obviously, I got put into place. Starting a business is much harder than I had thought, despite my "smarts." I was doing well with Amazon FBA, but started running into more and more issues the further I went.
The first product I was about to launch, listing up and everything, got taken down Saturday night. That Monday I had planned a wire transfer (couldn't be made right away due to a new bank account) to make an order for the product; luckily, the order didn't go through and I didn't lose nearly all of my capital. The product is not able to be listed AT ALL, despite the other listings on Amazon and the approval from 3 different Amazon Supports. I'm not going to go far into it, but essentially I knew there was a high chance of the listing having an issue: I went through anyways. Definitely my fault here.
Another reason of failure, I believe, is that I tried not having a mentor. I had a very helpful Udemy course but that was really it. While I was able to learn quite a bit on my own, it obviously wasn't enough to bring me to success.
After reading some more books and going through this experience, I learned that having a mentor, despite any devotion of time or money that may take, is definitely worth having.
I will be getting a mentor with my next business attempt by stocking up some money by selling things around the house. I easily have thousands of dollars worth of unworn clothes and old electronics laying around, collecting dust and pissing me off by not being in my bank account. Not kidding you, there are full tablets, Ipads, Xbox 360s, Xbox ones, never worn North Face jackets and other clothes just sitting there. We got a problem at my house...
It should be really helpful to put towards my next business. This time I won't be penny pinching as much and actually using my dollars as individual workers to grow my business.
Anyways, my next business: affiliate marketing.
Yes, it's not Fastlane, I know this.
It is in a niche I'm very fond of, and I genuinely enjoy making it. Not to mention, it's really easy for me to manage--content wise. I will be using this as a Cash Flow business, then scaling into a High Investment Scalable Business (fastlane). I already have an idea for what it will be, and I don't think it will take much capital to build (just a complexish website). Most capital would be put towards advertising.
An option I am considering is taking in Angel Investors instead of building the capital myself. I really don't want to waste time and risk the possibility of the idea being taken. I believe that the idea is incredible, I just need to devote time in learning how to market a new website. As it's known, a great website isn't anything if no one can see it.
If you have any experience with hiring a website developer or working with angel investors on a start-up, I love to hear about your experiences or recommendations.
When I start the development process, I will be making a development thread on INSIDERS.
When the winds aren't in your direction, adjust your sails.
In all honesty, my first business, Amazon FBA, failed.
It definitely was an eye-opener for me. When I heard about the failure rate, I initially thought "that's not going to be me, no way in hell. I know I'm smart and I know I am willing to surpass any learning curve."
Obviously, I got put into place. Starting a business is much harder than I had thought, despite my "smarts." I was doing well with Amazon FBA, but started running into more and more issues the further I went.
The first product I was about to launch, listing up and everything, got taken down Saturday night. That Monday I had planned a wire transfer (couldn't be made right away due to a new bank account) to make an order for the product; luckily, the order didn't go through and I didn't lose nearly all of my capital. The product is not able to be listed AT ALL, despite the other listings on Amazon and the approval from 3 different Amazon Supports. I'm not going to go far into it, but essentially I knew there was a high chance of the listing having an issue: I went through anyways. Definitely my fault here.
Another reason of failure, I believe, is that I tried not having a mentor. I had a very helpful Udemy course but that was really it. While I was able to learn quite a bit on my own, it obviously wasn't enough to bring me to success.
After reading some more books and going through this experience, I learned that having a mentor, despite any devotion of time or money that may take, is definitely worth having.
I will be getting a mentor with my next business attempt by stocking up some money by selling things around the house. I easily have thousands of dollars worth of unworn clothes and old electronics laying around, collecting dust and pissing me off by not being in my bank account. Not kidding you, there are full tablets, Ipads, Xbox 360s, Xbox ones, never worn North Face jackets and other clothes just sitting there. We got a problem at my house...
It should be really helpful to put towards my next business. This time I won't be penny pinching as much and actually using my dollars as individual workers to grow my business.
Anyways, my next business: affiliate marketing.
Yes, it's not Fastlane, I know this.
It is in a niche I'm very fond of, and I genuinely enjoy making it. Not to mention, it's really easy for me to manage--content wise. I will be using this as a Cash Flow business, then scaling into a High Investment Scalable Business (fastlane). I already have an idea for what it will be, and I don't think it will take much capital to build (just a complexish website). Most capital would be put towards advertising.
An option I am considering is taking in Angel Investors instead of building the capital myself. I really don't want to waste time and risk the possibility of the idea being taken. I believe that the idea is incredible, I just need to devote time in learning how to market a new website. As it's known, a great website isn't anything if no one can see it.
If you have any experience with hiring a website developer or working with angel investors on a start-up, I love to hear about your experiences or recommendations.
When I start the development process, I will be making a development thread on INSIDERS.
When the winds aren't in your direction, adjust your sails.
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