What are some paths to 10x?
- Tiktok going viral
- Wholesale
- Adding metal rings and ring boxes (engraving too)
- 10x ad spend
- Spend more money on collabs
- Become the supplier to other silicone ring brands
- Collab with influencers – design for them. They can sell on their site (dropship)
- Invade the low end rings on Amazon (compete with Thunderfit)
- Be early to the next platform, whatever it is
- Be early to the next trend, whatever it is
What are some paths to 10x production?
- 30x production with bulk engraving
- Out-sourcing engraving and gold inlay of silicone rings to China
- Or set up engraving shop in China
- Out-sourcing engraving of metal rings to China
- Send rings from China
Thoughts:
- There are tasks which don’t produce 10x results but they need to be done. For example: design new collections, write blogs, send emails, post on social
- I think the key is to delegate those tasks, as opposed to not doing them at all
- The Team needs to do maintenance tasks, and also need to work on 10x projects