Hung out with Stan, drank a bottle of cabs together as dinner lat night.
Woke up with a revelation. One that I re-remembered. But this is an important point in my life I believe. It’ll change my course of action.
I have to build on my existing foundation, somehow. The more leverage the better.
Imagine trying to build land in the ocean. You can have scattered floating pieces, or you can have them all together, which give you an area of land. Then build on top of that, castles and dreams.
Imagine building a city, or, an empire rather.
You can build schools, industries, hospitals. But don’t go build two of the same thing that don’t feed off each other. Two hospitals and no school doesn’t help grow an empire.
So what do I do?
Quest is a food company, not just a power bar.
Impact Theory wants to be Disney.
Elon Musk built Paypal. He didn’t build another version of Paypal. He leveraged his money and credibility to build Tesla and SpaceX. Same as Mark Lore.
I was giving up on Knot Theory too soon. I hit challenges and I blame it on the length of the name, the complexity of the name, the price of my rings, etc etc. The truth is, I can overcome all that with strong branding, great products, great marketing.
K-Theory
K Theory
I woke up also with a wary feeling, because, I didn’t expand Knot Theory fast enough when the time was right. I was a bit behind in everything it feels like. I didn’t expand to more products in the early days of Amazon. I didn’t expand to more price points in the early days of Knot Theory. I got those tips, but I didn’t take them.
So, the important question is, what will I do differently this time?
I think about the future of Knot Theory on Amazon. The profit margin will get slimmer and slimmer for sure.
To overcome that, I need to be stronger off Amazon. And on Amazon, I need to offer products that are competitively priced.
Just like Dad said, that I need to offer some really expensive rings. I can go both ways I think.
I need to build on what I have build.
I need to leverage what I have.
Not going to start from scratch again on the rings. New social media. Can you imagine! Just love the brand. Make it amazing!
So, I’ll order more rings from Fred. We’ll compete with Thunderfit. Come to think of it, Knot Theory is only 1 space longer than Thunderfit! And our name looks so classy.
If I want to look at all the ways that Knot Theory is more amazing than the other brands, I could! And I should!
We have so many amazing colours. We are engravable soon. We can have Swarovski soon.
We are priced perfectly to go both up and down!
We can offer customization on Amazon. We can spend money on ads. We can sell to stores and still make a profit.
Learn to really, REALLY, love what I have.
My life, people in my life, my accomplishments, my past, my products – who are my children!
Knot Theory is my child.
I’m going to build you up!
Never gonna give you up. Gonna rick roll you! hahaha
Now, Etsy.
Day One. (Jeff Bezos is so smart)