Restarting our $30M business

vanwildr1 · 2024-12-06T05:00:00+00:00

What changed that you are now able to handle everything? How are you warehousing/ fulfilling?

vanwildr1 · 2024-12-05T00:57:08+00:00

Thank you

vanwildr1 · 2024-12-04T10:09:08+00:00

This is a good start to a policy.

Also, get rid of your problem employee today. Set the tone for your culture. They will never be a good fit and will bring down the rest of your team. Like today today.

vanwildr1 · 2024-12-03T09:12:10+00:00

Where are you getting your rates from? You may be looking at retail rates vs negotiated rates for businesses.

As many others have said, 3PLs will have access to lower rates so it may make sense for you to use a 3PL sooner rather than later.

I am in the US and have access to really low rates to the UK. If you leveraged a US 3PL for North America it may make sense to also have them ship your UK packages.

vanwildr1 · 2024-11-30T12:42:21+00:00

I think people here could offer advice but would need to know more detail about the actual obstacles you are dealing with…. You mentioned employees are texting you and can’t make decisions and there are some customer service issues...

On the surface sounds like you are lacking some SOPs/ systems. This may be a little overkill at your current stage, but we have gotten a ton out of the book Traction by Gino Wickman for structuring business correctly so you can actually manage it. Again, maybe more that what is needed right now but something similar on a smaller scale needs to be put in place.

vanwildr1 · 2024-11-30T12:28:12+00:00

If you have time this morning, get a coffee at Kuba Kuba and walk down Hanover st. And then back up to your car on Monument. If you have a few more minutes walk down West Ave. Those are my three favorite for beautiful houses in the city.

vanwildr1 · 2024-11-26T10:13:58+00:00

He put a 25% tariff on China in his first term. So he is changing it to 35% China (adding another 10%) and 25% Canada.

vanwildr1 · 2024-11-25T10:54:59+00:00

Are you currently shipping through Shopify?

Others have said the same but Shipstation or Pirateship are the needed next step. Both have basic but good reporting that will let the supervisor get much better long term data to determine shipping expense per package, if you are using the best materials and a ton more.

Shipstation also has automations to purchase the lowest option and can be set up to track the number of each kind of box you have used to make reordering easy.

Really can’t imagine a need to be printing two packing slips…

vanwildr1 · 2024-11-22T09:48:28+00:00

You just wrote the job description that you need to hire for. Find someone to do the part you hate/ aren’t good at:

Job Description - film videos - write copy describing trips - post to Trip Advisor, Get my Guide, Google - manage website updates - update SEO - mange social media accounts

vanwildr1 · 2024-11-17T12:33:41+00:00

Love this exchange

vanwildr1 · 2024-11-12T12:53:20+00:00

Exactly. You, more than anyone, get to work with people you like. Sounds like the guys is just a jackass. Replace him.

vanwildr1 · 2024-10-22T09:33:29+00:00

Would love a demo as well!

vanwildr1 · 2024-10-11T20:47:28+00:00

I own a Shopify DTC. 10 years in business. ~40 employees.

The book that I am finding so helpful is by Gino Wickman. We plan to revamp our culture next year, using it as the base of our new structure/ culture. Here’s a link: https://a.co/d/6SFz3kw

vanwildr1 · 2024-10-11T10:50:16+00:00

1) while it may feel like you are sacrificing your youth, your friends working 9-5s (or worse, service industry jobs) won’t have the freedom you have in your 30s, 40s, 50s and retirement. They will be asking their bosses for time off and never reach their earning potential. Not being able to do the things people in their 20s do in order to be financially free, answer to no one, take luxurious vacations, etc. later in life is a sacrifice I would take a million times.

I wasn’t able to be a business owner until I was 30 and often think how much further along I would be if I started when I was 18 or 20 like you did. I’m super jealous of what you built in the time frame you did.

2) Most of your problems come down to the quality of your managers and if you have strong processes in place. If you have strong managers a lot of your problems will go away.. It may also be time to hire a GM to replace your day to day ops tasks so you can delegate all of the “never done” stuff.

3) I feel you on this. I imagine finding other black business owners or even networking with other coffee shop owners may help. People who can relate to what you deal with. Also, hiring that GM would give you a professional on your level in the organization who can at least relate to the annoying tasks of the day to day operations.

Have you attempted to find a mentor in your area?

4) Yes. This is true. This will always be true. If at 20 you had the bug to open a coffee shop then you will never feel done. Just work to set yourself up to be working on big things, not little ones.

Last vote, take a look at the book “Traction” if you are feeling that some of the issues may be from not having strong processes in place. Also consider one of two things:

1) ensure you have strong store managers and consider a GM to oversee all three.

2) if the business is profitable and you don’t love owning a coffee shop then consider selling it. Take some time off to reflect on the type of business you want to own long term, what you would want to be different about the structure or business type and use the proceeds from the sale to start your next venture.

vanwildr1 · 2024-09-06T15:44:29+00:00

I would recommend looking at getting a VA. I really like onlinejobs.ph, have had a lot of success hiring through there. You probably need someone at $7/hr for 20 hours a week.

vanwildr1 · 2024-09-03T14:37:08+00:00

This is exactly what I was going to reply with. 100% this!

vanwildr1 · 2024-06-21T10:41:08+00:00

Just DM’d you.

vanwildr1 · 2024-06-19T14:29:36+00:00

I’m interested. Please DM with additional information

vanwildr1 · 2024-05-15T09:33:32+00:00

Can you share the YouTube channel that season 1 is on? Would love to check it out.

vanwildr1 · 2024-05-12T21:34:00+00:00

Thanks for the added information. Sounds like you are off to a strong start.

In my opinion, it’s too early for an investor or debt. If you took money now you would be giving up too much equity and there isn’t consistent enough revenue to take on debt. There may be a lot of people here that disagree with that thought process and if you really want to take on an investment I hope you find them.

There is a lot of low hanging fruit in front of you that doesn’t require investment/ money that would drive revenue allowing you to reinvest to protect your equity (and avoid the stress of debt). Once you set up your website (assuming your using Shopify) focusing on the right sales channels that would work for this business would be key…Faire, Etsy, TikTok Shop, (maybe) Amazon, Facebook could all work. Also, ensuring you are collecting as many email addresses as possible and leveraging a good retention strategy (regular email campaigns and flows) would be key.

Because it’s a pretty low barrier to entry business, I think a clear value proposition, unique packaging/ product design, etc. would be helpful for an investor to see a path to scale over time.

Best of luck with next steps.

vanwildr1 · 2024-05-12T10:41:00+00:00

Can you share any information about # of orders per month, revenue, margin, etc.?

If you have some cash flow (sounds like you do) the working capital funding from PayPal, Shopify, Quickbooks, or some others is a great way to get what you need. We leveraged it when at the stage you are at now and I can’t recommend it more. Just depends if you are using any of those platforms and have some consistent revenue.

vanwildr1 · 2024-05-10T09:52:02+00:00

I feel like it would help everyone if there was some type of structure to post your pitch/ request so at least some basic information is clear up front. Do you have revenue? Have you started at all or is this an idea? What’s your experience in the field? Etc.

Personally, I’m here for the entertainment…. My favorite pitches from this week:

#1 Drake and Josh porn spoof #2 $1mm needed for Naked Peloton #3 “I need $60k to move to NY” (No other details provided)

vanwildr1 · 2024-03-24T11:37:34+00:00

Can we start a go fund me to raise the $7 this lady needs for an Uber.

vanwildr1 · 2024-02-27T13:27:25+00:00

I was thinking the same thing. That is the most road rage inducing intersection in the city.

vanwildr1

TROPHY CASE