A recent post on /r/Entrepreneur…
My ecom brand did $3.7-million in sales ($980k in profit) last year, here’s what I learned:
NOTHING.
I have absolutely no clue what I’m doing.
The same person shares their backstory in the comments…
Got into ecom in 2017. Got super lucky with my first store and made $1-million in revenue in about 2 months selling gun accessories. Used the $200k in profits I made from that and tried a buncha stuff. I made okay money from 2017 – 2019 just trying a lot of different stores (PoD, dropshipping, buying bulk from China), but none of them really took off.
Eventually one did take off, resulting in $3.7 million in sales last year 💰
The OP continues…
To be honest, my background and story won’t help most of you. I got here cuz of sheer luck. When you have $200k to throw around at random business ideas, one is bound to work as long as you’re not wasting money like an idiot. But most don’t have that.
I’ve tried helping countless people start their own thing, but all of them have quit because they couldn’t get past the idea of having to spend a lot of money to make money.
There’s some truth to that, though I’ve seen tons of examples of people bootstrapping businesses to significant earnings.
This particular person is in ecom though, and they apparently built their own physical product. You’ll usually need a lot of capital to do something like that 🏦
Still, I find it reassuring to hear that someone earning almost $1 million a year in profit considers themselves to be pretty clueless about business.
It’s not like you figure everything out and then all the fear and uncertainty goes away. Which means there’s no point waiting for the fear and uncertainty to go away.
Just do your best to shrug it off and keep moving forward 💪
