I’ve had a pretty great year 2019!!!
Made about $340K in biz, $237K in stock. So $577K income before tax!
Business made about $850K in revenue. Close to a million!
Sales on Amazon US is great even after Xmas. Amazon CA not so much, but CA grew by 1000% since last year!!!! And overall on Amazon, we grew by 50%!!!
On Etsy we stayed about the same as last year. On KT we grew by 31%.
Overall, what an amazing year!!!
And I went to Peru, Amsterdam, Prague, London, Fiji, and China! And had an especially amazing time in China!
I’m very grateful.
Now, I’m thinking about:
- Systemizing KT
- Growing KT
- Moving to my own apartment by beginning of Feb.
- Building communities of good friends
- Creating a new biz!
New Biz:
I believe that these markets have the biggest demands: Getting rich and becoming more beautiful. Healthy is 3rd.
Dating related topics are good too.
The end goal in all of the above is to have more love!
The first one, money, is also to get more freedom, more options, better options.
Everybody wants more love.
I want to make a positive impact on the world. I also want to be more rich.
Like an actor deliberately choosing to star in a sci-fi because it’ll propel them to stardom, I’m going to do the same.
Let’s see:
- I can visit Korea. Find an awesome beauty product / service there.
- Keep this concept in the back of my mind and find opportunities involving wealth, beauty, health, and love.
I also want to double Knot Theory. This past year we did $670K USD in revenue. If we double, we’ll be able to join the MDS group and similar. They might require us to do 7 figures in just Amazon USA, so we need to more than double (US 2019 sales is $473K).
I’ve written an article on how to increase our sales. I’ll dig that up and update this one with it.
Let’s see:
- More colours (25 more colours this year for 25% growth) This is the easier growth factor, so I should increase colour offerings. Make it 50 colours.
- Neon Pink
- Neon Lemon
- Neon Orange
- Neon tie dye
- Neon Lemon Striped Ring
- Teal striped
- Royal purple striped
- Aqua striped
- Metallic striped if possible
- Dusty rose
- Pewter purple
- Pewter teal
- Powder pink
- Primary Red
- Classic Blue
- Primary Yellow
- Oxford Grey
- Thunder (pottery pewter grey)
- Another rose gold (the real kind)
- Fred: White Marble
- Black Marble
- Pink Marble
- Rainbow
- Light Grey
- Cantaloupe (for women) or orange (for men)
- Primary Green
- Dark Green (for men)
- More styles (Celtic, Claddagh, 8mm CF, etc) (Estimated 10% growth)
- Push the colours to more styles (e.g. antique gold on BCF and CF8mm and 2mm, pearl white to BCF) (Depends on #1 and #2)
- More patterns (Estimated 15% growth) (If this pans out, also a great assured way to grow) 15 patterns:
- Wood dark brown
- Wood ash
- Lace
- Rose
- Flower2
- Flower3
- Flower4
- Hearts
- China porcelain
- Cat paws or cats
- Dog paws
- Water waves birds eye view
- Sky / sun / cloud
- Xmas Snowflakes
- Leopard print
- If can have positioning: NYC or Paris
- Mountains e.g. Everest, K2
- Plaid1 (like Burberry)
- Plaid2
- American Flag
- Canada Flag
- Celtic
- Music (notes or wave pattern)
- Waves
- Xmas1
- Xmas2
- Ombre
- Mermaid
- World map1
- World map2
- Engraved rings (even on Amazon if possible!) (Estimated 10% growth)
- Give examples of engraving encouraging words also
- Better Amazon listings for better conversion (split striped rings out) (5% growth)
- Social media advertising (FB, IG, Pinterest) (10% growth) 75%
- Social media presence (Repost influencers awesome posts, ring or no ring) (1% growth)
- More platforms (e.g. Walmart, eBay) (5% growth)
- Wholesale to stores (5% growth)
- Wholesale to organizations such as hospitals (5% growth)
- Affiliate (1% growth)
- Email marketing (1% growth)
- A great video for branding and ads (1% growth)
- Optimize Etsy listing and marketing and have more updates (1% growth) 95%
- Increase bow tie options, optimize listings, add insert (0.5% growth)
- [TBD] Do a kickstarter on rings (5% growth)
- [TBD] Do a kickstarter on scarves (5% growth)
- Amp up influencer outreach (0.5% growth)
- SEO (3% growth)
- Optimize for mobile (subscribe to that app) (0.5% growth)
- Optimize website according to Shopify (e.g. add Shipping section) (0.5% growth) 100%
- Bracelets (5% growth)