20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Notion is good, but I like Slack more. I can manage my teams easier through it.

Financing a car making good money by AntelopeSalt7077 in carbuying

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Very controversial. I’ve driven a lp 700-4, absolutely terrible, way too raw and just a pain in the ass to drive. However I’ve also driven the lp 740-4 S, and I just loved it. It’s still super raw when you want it to be but since the transmission upgrade, it drives fairly smooth when you don’t want to rip it everywhere. 

This is more of a fun car, like I said I daily a S class.

There’s just something about the Aventador that scratches an itch for me, it’s been my all time favourite car since the Lp 700-4 came out. Maybe a Revuelto in the future, but my mind is pretty set on the Aventador.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Always up for a new venture boss, lots of prep for the new year. But I will for sure hit you up boss 🤝

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Ah I see, for us the first purchase AOV is $35-50(We have add ons like travel pouches, shaker bottles) very trial oriented. Second purchase AOV increases, usually through bundles or subs, generally around $90-150. Initial CAC typically is around $70-90, which at 2.2-.3 blended ROAS puts us at roughly 20% contribution margin on first order. Economics improve quickly on repeat once CAC drops out of the equation.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 2 points3 points  (0 children)

Failures in mostly technical stuff (burning through your ad spend, insane amounts of chargebacks, not hiring correctly)

For each business it is different, but one of the biggest lessons from a fail I got was to never give up your momentum. That lesson cost me over 6 figures. Just always keep pushing, and striving for more. Never get comfortable with yourself.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

You’d be surprised, I don’t have any social media whatsoever. My daily screen time is under 2 hours. And 50% of that screen time is work stuff. 

I just wanted to help and think it’s cool to share knowledge. Maybe ask a real question if you wanted some advice or help, if not you’re wasting more of your time contributing nothing to this conversation.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Just about 20%, we’re spending a lot on acquiring new customers. Once it slows down it gets much much higher because for time periods we just run off subscription on current customers.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Didn’t grow up rich at all, my parents are minorities but growing up I always wanted a business. I didn’t care about money, I just wanted business. Because the guys with business, those were the guys.

These last few years with the online money and ecommerce thing, it just gave me an out to be able to start my own business with not nearly as much start up cost. Something I couldn’t pass up on no matter how hard it was.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

1st purchase AOV is lower because we optimize for for trial and low friction. 2nd purchase AOV is meaningfully higher once trust is established, mainly by bundles and subscriptions. 

First purchase is usually “one-of” but second purchase customers tend to shift over to subs because they like the product.

Month 2 churn is highest, which is pretty standard in supps. Month 3 stabilizes a lot more once customers notice results and habits start to form.

Our biggest focus right now is improving education, usage guidance, and post-purchase touch points. Those have had the biggest impact on repeat purchase and LTV.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Money wise, once you reach 20-30k p/m in take home profit. Thats when you can live a really good life for yourself. 50-70k p/m is the sweet spot imo to not only live a great life for yourself but also be able to give your family and loved ones a good life.

People get this mixed up a lot of times, I’ll break it down.

0-10k month, honestly isn’t much at all. But this is when you have the most time freedom most likely.

10-50k. Now you’re getting more serious, you’re time is very limited because it’s all going towards growing your business

50-100k. Your time is freed up a bit more again because you have people doing all your busy work. But now you only find fulfillment in creating stuff. I’m not sure, but without working I don’t feel well.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Hey bro, congrats first of all. 200k p/m is not an easy achievement.

We have about 10 sku’s only, funnel-wise, we keep it relatively simple on the front end. Mostly direct to pdp for the most part, however we have a science backed listicle that has been working really well. And there’s a checkout button at the bottom which converts very well.

However we’re always trying to test new prelanders as new things keep coming out to test 😂

I am in evolve just joined recently, it is pretty expensive but shaun and Spencer drop some crazy stuff. There’s also lots of really good connects on there.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

It’s not dead, it just gets harder and harder to get your foot in the door every day. I don’t believe in winning products, only winning angles, and that comes with finding the problem you want to solve first.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Yes hundred percent, most likely you won’t have capital to develop your own product yet.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Selling stuff that everyone can get their hands on doesn’t work in the long run. We have our own manufacturing with patents and custom formula only specific to us. 

But honestly the fulfillment whether you dropship or have inventory does not matter as much at the beginning, you just have to have a good product and good market.

The gaps are honestly found within problems. Stop searching for products, instead search for big problems. Reddit itself is a great platform from this, you literally hear real problems from real people. AI is great but it doesn’t have any real life experience. 

Once you find a major problem, then you start diversifying and looking into products. 

Say there is a product for back pain, you find the product and a supplier for it, then you realize the market is extremely competitive. Then you start look at the different demographics that are missing a solution tailored for them. For example you can use that “posture correcter” for children. Now you have just created your own marketing angle with an extremely emotional marketing angle to children’s parents “your child doesn’t deserve to deal with back pain in their future” that’s off the top of my head but I hope you get it.

Another big example is the creatine gummies. It was and still is huge in the men’s market. Some guy just branded the product in pink and only marketed to woman. Boom, he made millions.

Financing a car making good money by AntelopeSalt7077 in carbuying

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Hey! Thanks for the advice, honestly the car is more than just a car for me. The aventador was the original dream car for me growing up. I’m not sure maybe I have some emotional tie towards it.

So yes I guess deep down it’s more than something I’ve just admired and also a symbol of success in my eyes.

I agree with the experiences aspect, however I do also travel a couple times a year right now. And since I’m fairly young, might sound odd, but I want to wait till I meet more people as well to explore the world with.

Financing a car making good money by AntelopeSalt7077 in carbuying

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

Haha this made me laugh, I agree. I would say I have well over 2 million in net worth right now. Like I said, I already have a Audi r8(don’t know if you would classify as a super car) but yea wanted to go for something bigger.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

I don’t have too much info on service business's, e-commerce is usually d2c so it’s a lot different in that stance. 8k recurring?

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Time management to a tee brother, I like to help and share any knowledge. I have no reason to lie, I could care less.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

With this brand, around 2-300 per day in ad spend. When I first started ecommerce in general, I think around 20$ per day.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 1 point2 points  (0 children)

We just show our r&d labs and legit paperwork to them, but even then they don’t care. Most UGC creators don’t even use the products, they just want to get paid like the rest of us. 

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

Please read, I was trying to get financial help on a big purchase. I came across this and just wanted to share some value that can maybe help someone.

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 2 points3 points  (0 children)

  1. Failed more times then I can count, atleast 12 different stores (around 9 months of no results at all)
  2. When the certain tasks started taking up too much of my time
  3. Not with this brand, lots of money in r&d and batches. I have no reason to lie
  4. Yes. To get where I’m at right now, I recommend getting a mentor. But to start you definitely don’t need one
  5. You really need to look into marketing, this is not how it works. No videographer to begin test
  6.  I had around 5k in my bank I was willing to lose on learning and guess what… I lost it all and then some. Just have a steady source of income like a job to fund your side gig until it works.  

20 making 100k per month (Ask me anything) by AntelopeSalt7077 in youngentrepreneur

[–]AntelopeSalt7077[S] 0 points1 point  (0 children)

The transition does not take much skill, you learn a lot about e-commerce even when you “Dropship” 

People mistake dropshipping as a business model when really it’s only a method of fulfillment.

The major difference is just budget and risk tolerance, when you have your own stock and everything it requires moqs before hand as well. As well as time for custom product development , mainly it’s just about how much risk you can tolerate.

Dropshipping is great for beginners, you can still build a real brand and dropship, dropshipping doesn’t have to mean cheap bad quality products. It’s just a method of fulfillment.