I’ve come to the realization – go big or go home!
Go big while I’m still young.
Go big so I make the mark.
No more hesitation.
Going big comes with a lot of spillover benefits, the ripple effects.
- Street cred
- Smart friends
- Opportunities
- Fun stuff!!
Basically, it’s levelling up.
I worry about stuff like, having too many employees, getting too high up there and falling harder if that ever happens, and having more stress, etc.
I’m going to stop overthinking.
I’m in the best possible position to do this – I’m still young, I have money, we have potential and un-excavated markets – LOTS of them!
I want to dominate one market to begin with.
Equestrian perhaps?
Let’s work from the goal and reverse engineer this!
- $10M will be 3.7 times our current $2.7M
- If we are aiming for 70% Shopify and 30% Amazon, it would be: $7M on Shopify and $3M on Amazon
- Which means growing 7x on Shopify, and 3x on Amazon
- Let’s say we do so by brute force: Shopify: $30k/month ad spend * 7 = $210k/month. Amazon: $30k/month ad spend * 3 = $100k/month. So that’s us spending $310K/month, which is $3.72M/year
- We currently spend about $60K/m, which is $0.72M/year
- So we’ll be spending $3M more (5.17x)
- If it works, it’ll mean $7M in profit (Subtracting operational expenses. probably still at least $2M in profit)
- We’ll ramp it up though, of course. Scaling profitably.
- What does it take to grow 7x on Shopify?
- If we start selling let’s say, metal rings to 20% of our customers, at $250 AOV (as opposed to $50AOV), then we’ll 2x just from that. (1/5 of the customers with 5x the AOV = current total, which is about $1M on Shopify)
- SWOT this
- If we start doing content and reaching 5x more customers, we’ll be able to 5x. Currently doing 56K sessions in the past 30 days, which is up 71% from last year.
- Traffic x Conversion Rate x AOV x LTV = 7
- What is the best bang for my buck?
- What are some successful guerrilla techniques? Ask chatGPT