Hi all,
Quick tl;dr: Haven't launched a product after 6 months in FBA and feeling a bit stuck. Have had some good wins in crypto that multiplied my available capital and may potentially open real estate or other things up to me. Very fixated on FBA, but starting to question if I may be better suited to a different fastlane model. In that case, not sure where to go now as I'm starting from scratch.
I'm hoping for some guidance here, whether it be a kick in the teeth or a pat on the back. My first investment in my entrepreneurial life was in July of 2017, with a $997 investment in an Amazon FBA course. Since then, I've locked into it as "the path" for me and made my best effort to shut off everything else. I said I would have a product launched before 2018.
Fast forward, and no dice. I've continually struggled with product research and finding valuable keyword niches. The 2 products I've reached supplier negotiation stage with both ended up having crucial flaws that forced me to toss the towel in on them. Most recently, I had a brilliant bundle idea that ended up weighing far more than I expected and lost most of its margin on projected shipping costs.
I started throwing my cash reserves at altcoins just before Thanksgiving as a nice release, and in the ~6 weeks since, have continued adding. I started with $2250, adding another $2000 before Christmas and another $2000 yesterday. As it sits, that investment has grown to a current portfolio value of just over $18,000. Crypto is something I'd put off and shunned for fear of distracting myself, but after making $12,000 gains in a month and a half, it's making me question if I'm doing the best thing by continuing to bash my head against the wall on Amazon.
Should I be considering other opportunities? I don't say the above as shifting focus to solely crypto, but rather I am asking if I'm just sinking time into FBA if I haven't gotten anywhere with it in the past 6 months. I'm not attached to the business in any way and frankly hate the process of product research... but, right now, it's all that I know as a way forward. Yet, I'm not moving forward. I've started to feel it's more productive to spend more time reading than hunting for niches.
Quick tl;dr: Haven't launched a product after 6 months in FBA and feeling a bit stuck. Have had some good wins in crypto that multiplied my available capital and may potentially open real estate or other things up to me. Very fixated on FBA, but starting to question if I may be better suited to a different fastlane model. In that case, not sure where to go now as I'm starting from scratch.
I'm hoping for some guidance here, whether it be a kick in the teeth or a pat on the back. My first investment in my entrepreneurial life was in July of 2017, with a $997 investment in an Amazon FBA course. Since then, I've locked into it as "the path" for me and made my best effort to shut off everything else. I said I would have a product launched before 2018.
Fast forward, and no dice. I've continually struggled with product research and finding valuable keyword niches. The 2 products I've reached supplier negotiation stage with both ended up having crucial flaws that forced me to toss the towel in on them. Most recently, I had a brilliant bundle idea that ended up weighing far more than I expected and lost most of its margin on projected shipping costs.
I started throwing my cash reserves at altcoins just before Thanksgiving as a nice release, and in the ~6 weeks since, have continued adding. I started with $2250, adding another $2000 before Christmas and another $2000 yesterday. As it sits, that investment has grown to a current portfolio value of just over $18,000. Crypto is something I'd put off and shunned for fear of distracting myself, but after making $12,000 gains in a month and a half, it's making me question if I'm doing the best thing by continuing to bash my head against the wall on Amazon.
Should I be considering other opportunities? I don't say the above as shifting focus to solely crypto, but rather I am asking if I'm just sinking time into FBA if I haven't gotten anywhere with it in the past 6 months. I'm not attached to the business in any way and frankly hate the process of product research... but, right now, it's all that I know as a way forward. Yet, I'm not moving forward. I've started to feel it's more productive to spend more time reading than hunting for niches.
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