Timeline/Reality/Dreams

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Tourist
39 0 1
How do you determine deadlines and know how when to stop “hustling” if the hustling isn’t making you money. My confusion is since I’m new to this and don’t have a set mentor I often find myself thinking I’m doing the right things with my time like say tweaking my site or adding apps, watching 100’s of videos, site speed, seo Etc but maybe it should be product research? Since I started which was June 1st I’ve made 5 sales and spent $600 on ads and hundreds of hours of time “working” calling Shopify etc but I’m now in debt, in addition to that I’m out of money/low on ads so I can’t run any right now, making me think my fb ad data won’t be relevant when I’m able to run ads again(assuming I know how to apply the fb ad data). I guess is there a realistic dead line when my store should be profitable after or at break even? Like is it 6 months 1 year 5 years? Like at what point do you say ok something is really wrong. I constantly say keep going etc but I’m not sure if I’m working “smart” only hard because I don’t know what I don’t know. I don’t mind hustling but I’d like to have confidence it’s on the right things. With all the hype and apps in Shopify, I find myself almost getting away from the main goal of a business-make money. Does anyone have any advice on this long winded situation I find myself in? To make things even more concerning I’ve deleted some products from my the store that I ran ads to so any data on that product would be sort of useless even with my fb ad data. I’m trying to make this dream a reality and not have it just be a dream... but with no set “deadlines” I just keep going... waiting for that 1 🔥, which I’m not sure is a good mindset.
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Hi EONX5,

 

Thank you for being honest about it - I wish more ecommerce business owners would be open about the fact that running an online business is hard work, and money doesn't come "fast and easy" as the FB "gurus" want you to think.

You touched on a very good point here - research. If you didn't do product research, competitor research or market research, running a business then feels like throwing a paste onto the wall and seeing what sticks. 

Yes, hustling is important, but you also need to be sure you spend the time productively, i.e. on the tasks that give results.

I recommend pausing any ads for now [you probably already did at this point], and spend the next 7 days on the research - and I don't mean buy "winning products formula" course or wholesalers list.

Spend this time deciding on a niche you'd like to work in - something you have a knowledge of and are passionate about. You'd want to have passion for your business, otherwise when the tough times come you won't have enough fire to keep going. See why the specific niche is more profitable than a general niche: https://youtu.be/sayTnDksQx0

 

Once you find a niche, then decide on a target customer - create a perfect buyer persona. See how: https://www.rockpapercopy.com/customer-research/

Having one target customer type will give you more clarity as to where to promote your business to find them, which will save you money and time in the long run and help you drive more relevant traffic, improving your conversion rate.

 

Once that's done, make sure to run competitor research - find at least three closest competitors selling in the same niche and targeting the same audience. See what they are offering, and how you can improve on it profitably. You can also copy their marketing strategy to get some momentum.

 

When it comes to the timeline, I'd say it would be fair to expect to be profitable within the first year, however it depends on your overheads and the initial investment.

 

I've launched four online businesses [2 successful, 2 not so much], so if you'd like to chat and get some free tips, feel free to book a free 15-minute chat below:

https://calendly.com/rockpapercopy/free-chat-15

 

Best regards,

Maggie

Shopify Partner | Ecommerce expert

Rock Paper Copy  

maggie@rockpapercopy.info 


If you found these tips useful, please leave a 5* review on my TrustPilot profile. Thank you!

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Tourist
39 0 1
Thanks for the feedback. As far as product research goes I’ve been using a few methods/resources as follows
Pexda
Aliexpress(eye catching products, pick one that was recently added to an high Selling store)
Shop inspect
Sales Source
Google Trends
Facebook

And a few more... It seems as though I know what to do but I don’t know how to do it. (If that makes sense) However, I don’t understand factual data that proves a product is a winner. In my situation and what I’m told from people is in the beginning you have to spend money to lose money. Moreover, they say data is king therefore it’s not wasted money. However where does consistency ever come into play if my product pages have changed or my products have been deleted? It seems like it would hold much value to me. Since I am not running ads right now I’m doing all straight hustle with my IG Facebook and Pinterest Channel. There seems to also be a lot of people in the Shopify community that are very good at telling you what to do but not showing you what to do, there also seems to be people that make $ on Shopify and others who are good at building stores and thinking/preaching about Shopify. I don’t always know if web design is always so cool, because I’ve seen simple websites make 6 figures. Personally with the plethora of people offering advice it’s sometimes difficult to know the ones that make actual $ as I rather listen to them. I follow a 4 letter word KISS keep it simple stupid in life but often find that hard to do with all the fluff on Shopify, then it’s determining what’s fluff and not fluff. Side note/personal: Shopify seems to be very good at selling you this big dream(this is cool) they give you all these apps etc, big forums and glorification, like “I’m this cool entrepreneur” but meanwhile most don’t make $ and I feel like holding onto a dream without having deadlines is dangerous. They almost instill a sense of entitlement/confidence giving you an online store platform, I’m this cool entrepreneur no more 9/5 lol. Personally until I’m profitable thats very fake to me. I’m less richer then when I started

Let me know your thoughts!
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Hey there,

 

Running an online business can give you a lot of sleepless nights in the beginning - while it's rewarding, as you can call yourself your own boss, it's not all roses and honey. I honestly don't think you MUST pay for data - lots of research papers are free to access if you have the time to do it and analyze the results. 

Absolutely, having a timeline and a detailed plan of action will definitely help. You don't want to keep waking up each morning thinking you have to do 100s of different things that day - having a plan will allow you to focus on one thing, and once that's done, move onto the next without feeling overwhelmed or risking a burnout [I've went through two burnouts, so that's a real danger]. 

 

Hope it helps,

Maggie 

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