I know what to do now!!!
I realized last night and this morning, 3 things:
- I really want to build a comfortable place to live in
- I need a lot of money to do this, because I’d like to first provide a new house for Mom and a nice place for Dad to live in, or at least at around the same time.
- I need to have a revenue of $1MM a year at least, so I can join the MDS group with Stan.
You see, I suddenly realized that, Baby Bibi will reach $1MM in sales so soon. 6 to 12 months. Once they do, I’ll be left on the outside. I need to hustle!!
And if I’m in the MDS group, I get so many benefits to help me get even further in business.
All I have to do, is to triple my sales!
I realized recently (omg so many realizations, I love it!) that adding comfort fit had really increased the sales I wouldn’t have had. I mean, I knew this with the colours that I had. I was smart to add so many colour the first, second year of my Amazon business. But I stopped, because my manufacturer’s MOQ was too high, and mold costs are high.
But now, with Martin, MOQ is lower. We have exclusivity. So, let’s re-evaluate!
I’m very excited about all the expansions we can do, at all the different levels. By this time next year, Knot Theory will be #1 in silicone wedding rings!!! Mark my words!!!
Amazon is a great place to increase sales, but not profit necessarily. Once you’ve found something that generates sales and profit, it’s time to focus on expanding that niche!
- Product Level
- Small batch laser engraved patterns to test out new designs without opening new moulds
- Hearts, equality, crossfit,
- Logo for sports teams, gyms, events (crossfit games)
- See-through engraving for holes
- More colors, especially pale gold, mermaid/peacock, and whichever is trending next (iPhone and Apple watch colors too)
- Customization – engraving on inside and outside, motivational or gift-friendly or wedding-friendly
- Also sell bracelets – very nice looking ones
- Also engraveable
- Classy unlike the current ones
- Beaded bracelets
- Motivational bracelets
- Road ID bracelets
- Teething bracelets
- Customizable words
- Adjustable length
- New Designs
- Step Edge
- Celtic and filigree
- Faceted
- Ask focus group
- Parallel Products
- B2B Sales Level
- Kent
- Stores
- Amazon B2B
- Hospitals
- Firefighters
- Police
- Army
- Mom groups
- Army Wife groups
- Wholesale on website
- Tradeshows
- Gym, sports teams – approach for collaborations and custom engraving
- B2C Sales Level
- Focus group / Many Chat
- Returning Customer – monthly new release and other reasons to come back. Easy birthday gift etc. Gift draws for people to win. Tell them recent buyers only?
- Number of purchases per transaction – Couple matching rings to encourage buying in set. Upsell tools.
- Frequency of purchase – more new releases, newsletters/manychat, sign people up for manychat in followup emails, know customer’s birthdays, know their taste so when a similar ring is released, we can promote to them.
- Making life time customers – membership and member forever discount
- Allow people to donate with rings to causes they believe in
- Allow people to buy in bulk for themselves too – especially engraving – 3 for $5 more. Save on shipping too.
- Allow people to buy for the whole (extended) family and loves ones
- Engrave different messages and dates for your loved ones
- Marketing Level
- IG, FB, Youtube, Google Shopping and Display Ads. What other places?
- Better photos and videos
Bracelet:
- great fundraiser
- ideally:
- has a story
- helps community
- cheap to make
- earth friendly – eco materials, recycled materials
- looks good on everyone
- adjustable in size
- easy to customize
- can have many colors
How do I want to live this life? What is the story of my life? Role models?
I want to live a life free of stress. But maybe just temporarily. Some stress is good.
I want to build dream houses.
I want to have a comfortable home to live in.
I don’t have a burning desire to live around the world.
But I do want very interesting friends.
I want to be a very interesting friend.
I want to make a positive impact to the world. Starting with alopecia.
IDEAS:
Recycled tire:Â http://www.itoproducts.com/recycled-tire-bracelets/bracelet-options/
Cool designs, sorta:
Fundraising On Your Wrist With Xbracelets
https://www.positivepromotions.com/friendship-bracelet/p/osa7242/
https://www.bravelets.com/
Very cool company:Â https://www.instagram.com/puravidabracelets/
Bracelets from ghost fish nets:Â https://bracenet.net/en/products/
Check most common fundraisers (cause and demographics) for ideas: https://www.gofundme.com/discover
Recycled sari fabrics:Â https://anindilyakwaarts.com.au/product/18-5139-fabric-and-ghost-net-disk-earrings-with-shell/