Finished reading The Millionaire Fastlane a couple weeks ago and it reaffirmed the fact that I want to create a fastlane for myself. I understand it's going to be hard work to get to where I want to be so I do not have to work a stressful 9-5 job in the future. I'm a 21 year old college student and want to get started while I'm still in my youth and it's not too late.
With that being said, one of the ideas that has crossed my mind a lot lately has been creating a shoe cleaner. It meets all the criteria of N-E-C-S-T
Need- People buying expensive sneakers are at an all-time high. If people are willing to spend $200 on nike's and jordan's they will spend $10-30 on a shoe cleaner kit if I deliver a quality product and sell it. Once I can gain enough consistent consumers and customers with my athletic shoe/suede shoe cleaning kits, I want to expand to leather shoes as well.
Entry - There are other shoe cleaners out there but I don't think it's a saturated market. Just have to be better than the competition.
Control - Creating a brand for myself, logo, brand name etc, developing a product, marketing, creating domain and then beginning to sell on a website, once I gain enough followers I want to eventually want to be distribute product to shoe stores and sell it in stores.
Scale - Every first world country has a need for keeping their shoes clean, can impact millions.
Time - Shoe cleaner can sell itself once I can get enough people to realize what the product can do for them.
I want to hear from everyone if you have any tips or advice on getting into this and pros and cons?
For all of the people that created their own product, made a brand and started to sell the product, what were the biggest challenges throughout the process?
I don't have entrepreneur experience and just want to get some ideas and advice from people that have experience. thanks.
With that being said, one of the ideas that has crossed my mind a lot lately has been creating a shoe cleaner. It meets all the criteria of N-E-C-S-T
Need- People buying expensive sneakers are at an all-time high. If people are willing to spend $200 on nike's and jordan's they will spend $10-30 on a shoe cleaner kit if I deliver a quality product and sell it. Once I can gain enough consistent consumers and customers with my athletic shoe/suede shoe cleaning kits, I want to expand to leather shoes as well.
Entry - There are other shoe cleaners out there but I don't think it's a saturated market. Just have to be better than the competition.
Control - Creating a brand for myself, logo, brand name etc, developing a product, marketing, creating domain and then beginning to sell on a website, once I gain enough followers I want to eventually want to be distribute product to shoe stores and sell it in stores.
Scale - Every first world country has a need for keeping their shoes clean, can impact millions.
Time - Shoe cleaner can sell itself once I can get enough people to realize what the product can do for them.
I want to hear from everyone if you have any tips or advice on getting into this and pros and cons?
For all of the people that created their own product, made a brand and started to sell the product, what were the biggest challenges throughout the process?
I don't have entrepreneur experience and just want to get some ideas and advice from people that have experience. thanks.
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