Hey!
For those who know, I am about to test and this will be where I document anything I've learnt about my idea etc.
My XYZ hypothesis is that 10% of the people searching for my product will click on and that 25% will buy giving me a nice base to begin with.
440 clicks == 110 sales == $1000 a month give or take.
If 50% of people reorder, that's 55 reorders each month plus 110 so I'd grow until hitting around 300 sales a month within a few months on my first 2 products.. This becomes $2500.
THIS MATH IS PURELY THEORETICAL. This could all be a self-made lie, so therefore I will test my hypothesis.
Firstly, I am launching a website with the 2 products listed. I won't bother with social media for now, however I'll be collecting emails for potential future use and to see if people are willing to give me their emails (Interest in my offer.)
I am going to test an ad running to a sales page and then take orders, which I will refund the next day with an "Out of Stock" apology along with a questionnaire that if they fill out they'll still get the product.
Maximum loss around $300-$400.
Maximum gain is a business generating 1000's a month, atleast double my wage. Oh and I calculated profit assuming I am using a fulfilment centre, outsourcing marketing and all the other little niggly costs like website domain, ads etc.
For those who know, I am about to test and this will be where I document anything I've learnt about my idea etc.
My XYZ hypothesis is that 10% of the people searching for my product will click on and that 25% will buy giving me a nice base to begin with.
440 clicks == 110 sales == $1000 a month give or take.
If 50% of people reorder, that's 55 reorders each month plus 110 so I'd grow until hitting around 300 sales a month within a few months on my first 2 products.. This becomes $2500.
THIS MATH IS PURELY THEORETICAL. This could all be a self-made lie, so therefore I will test my hypothesis.
Firstly, I am launching a website with the 2 products listed. I won't bother with social media for now, however I'll be collecting emails for potential future use and to see if people are willing to give me their emails (Interest in my offer.)
I am going to test an ad running to a sales page and then take orders, which I will refund the next day with an "Out of Stock" apology along with a questionnaire that if they fill out they'll still get the product.
Maximum loss around $300-$400.
Maximum gain is a business generating 1000's a month, atleast double my wage. Oh and I calculated profit assuming I am using a fulfilment centre, outsourcing marketing and all the other little niggly costs like website domain, ads etc.
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