How I started building my company: why I left the corporate world & my first steps
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- เผยแพร่เมื่อ 18 พ.ค. 2024
- Everyone always only talks about how they made a billion dollars with their start-up... In my newly begun 'going broke in 100 days while founding my sustainable start-up' series I'm talking about my strategy, what I could be doing better, and I'm hoping for your advice.
I want to share my authentic journey with you and what a mess running a business is.
In today's video I talk about what I have done so far.
The Squid Studios Instagram: @the.squid.studios
Anna's Instagram: @boomers_hate_this_trick
webshop: www.the-squid-studios.com
tell me what you think :)
#startingabusiness #quittingmyjob #sustainablebusiness #founderstories #ecommerce #startupgrind
I’m also on a failing and most likely doomed entrepreneurial journey for this summer in no code apps. But I don’t even have funds, so gotta work as a freelancer too just to get by. We can do this, I hope. Best of luck.
Helll yeeaaaa !!! Lets go :) Also, go check out Ludwig Sonneck on TH-cam, he's building a SaaS. Best of luck to you too
Well that's a lovely office you got there now.
Important to stay flexible... If a certain plan gets too annoying just go change it. That's the great thing when the plans are your own ones ;) Love your upgrade with a bit more structure and backstory!!
Hahahaha agree love that I don’t have to follow some boomers plan lol
As a newly minted 27 year old, your rant on the corporate world just hit home so hard haha. I feel like you should DM girls with lots of followers and offer them to try your product for free btw. Cheers!
Hahahaha yeah - I'm definitely making another video just dedicated to ranting, because I have so much more to say and hate on hahaha - Also yeah, I'm already doing that, but I feel like they get so many messages from brands, that sometimes it just feels like a waste of time and also as the jewellery is made from real silver and freshwater pearls it's really expensive to just be gifting them out. I've already lost some money to influencers that way :(
Really great video especially for someone who wants to start a startup/ e-commerce biz... Some advice I've learned throughout starting an e-commerce myself.. Side note: I'm an engineering student and started doing e-commerce in sim racing electronics (a very niche community especially in Asia where I'm based, so do take this comment with biasness) and I'm nowhere close to being net profitable.. but here are some lessons I've learnt:
1. PLANNING - Don't rush through the process of making money, do make some background research on the product and make sure you know your competitors, most importantly set a fixed budget on how much you are going to spend - both time and money on the start up. Also plan what ifs... what if you are not earning after a few years, do you invest in hiring or do you start a new biz... what if your biz is booming, where do i invest the capital, how do i expand...
Personally, I hardly did any planning that's why I overspent in R&D. after the end of couple months in, I tabulated the cost of marketing, R&D, labour, I didn't even realised I spent that much. i didn't even plan the cost price of each product... So please plan properly
2. BUDGET SPENDING - Know where to invest your money.. as said, I spent too much on R&D and things that have less to no impact on being PROFITABLE (when you spend even a single dollar, think if it is going to impact the company/consumer). The reason for overspending in R&D is due to poor planning as mentioned above. But i want to bring up the 'other things' that was unnecessary. one of the few things are actually branding, logo and things that makes me look 'professional'. I spent quite a lot of time designing my logo and brand name which honestly I'm still not impressed with. Honestly speaking on the consumer's perspective, having a nice name and slogan or even outstanding packaging and card/ notes doesn't make me more inclined to buying from you. Ultimately I want a product that meet my demands/ expectations )and maybe post sales support is also important). So honestly, I would not spend so much time in the logo, design packaging etc. just give yourself a deadline and after the deadline, don't make any changes after that. Instead, work on supporting the weak aspect of the biz. and in my case is publicising and marketing... Hate those stuff lol
3. TIME ALLOCATION - Lastly is to spend time appropriately... Different people have their own strengths and weaknesses.. I'm sure uve heard of it a lot but honestly understanding the facts is one thing, and acting on it is another. As an engineering student i really enjoyed designing and R&D with new components, that's why i spent most of my money and time in this category... on the other hand, marketing and putting my brand out there, is a strong reason why my biz is failing so bad.. so know what you are weak at and work on it.. I'm sure this advice is something most people have heard of, but its not easy to act upon it.
So my advice on the logo and packaging is to not spend too much time on it, you will NEVER find a perfect one, and you have to see yourself as a consumer POV too.. Would the logo and packaging really change my mind if I really liked your product? Personally, focus more on the product and making sure people know what your product is actually worth.
I don't normally comment on videos but I seriously hope you guys can take a point or two from it. Hope you guys can also share your advice by replying to this comment. ALL THE BEST
Thank you so so so much, for taking the time to comment on my video with these helpful tips. Yea I really get that, I spent too much time on making and developing the perfect product I think, and too little time on marketing and actual sales. The stuff making you profitable. I also hate marketing, which is why I'm really bad at it. So I kind of started this TH-cam channel to put myself more out there. And you are right, I really shouldn't lose more time on the logo...
Hey doing great keep going😀
Thank youuuu
Nice video, again! It was interesting to learn more about how and why you started your company.👍
Failure is a normal part of such a journey. It's rare to get everything right on the first try. Realizing and accepting that things failed are necessary to change and improve stuff. (I mean, these videos are the best example: you now have a microphone and more structure).
Keep going and enjoy the sun!😁
Glad you liked it and thank you for the support ♥️ means a lot knowing there’s people who are interested in what I do 🤍 🥹
Relatable as a founder, a mutual sub wouldn’t hurt 😂
Nice! I really appreciate the additional context.
Instagram will be the most difficult social media channel to penetrate. (Don’t just take my word for that.)
Your microphone sure makes a big difference! Good stuff! (Maybe check your levels?)
Your first 100 TH-cam videos are supposed to suck. That’s just the price you pay to get good.
I’ll be looking forward to your next video!
Thank youuuuu 🥰 will definitely check the levels I think it works better when I clip it to my clothes instead of waving it around before my mouth haha
Keeping going we can see your growths
Thank youuuuu 🖤 means a lot 🥹
love this! where abouts are you based?
Thanks so much!
Be slow … talk slow… is someone chasing you ?
noted :)
But the content you sharing is real commendable… thank you