About 10 years ago I made nearly $50,000 with my homemade CNC making a jewelry makers kit that I invented, I also got my 15 minutes of fame when I made a few things for the Martha Stewart Living magazine that was featured in their magazine. So I know from experience that it can be done.
when ppl see this. theyll be like "500k in 2years?wow. thats easy!"... but they dont see the effort put down to get there... burnt down. stress. tired. alone. everything. thank you for not leaving that part out of the video.❤
Is there anything easy in preaty much any bussiness? The clints don't care about the struggle behind any product. So i don't see the logic behind your comment..sorry but this is the reality.
My story is practically indential - but I started out by personalised engraving right from the get-go, Around 8 years ago, I determined that a single order for £10,000 is a lot better than 1000 orders for £10, so I moved in to engraving items for industrial customers. Today, my company has over 2000 corporate customers in 22 countries around the world - including many of the world's best-known companies. From starting on my kitchen table 12 years ago with a tiny Roland engraving machine doing 10 pet tags a day, to producing over 100,000 engraved industrial items annually - the secret is not about "how to engrave"... Regardless of what you do, operating and thinking in a business-like manner is what counts. You did this, and that's why you've succeeded.
@@garrettp.5018 If you think about it, practically every organisation (not just companies) need engraved tags, plaques, ID plates at some point. I supply organisations in every sector - from advertising agencies to zoos (and every letter in the alphabet between). Over the years I have a (commercial) customer base of over 2000 organisations - many of whom order on a regular basis - and these extend to over 20 countries worldwide. We have made tags and plates for nuclear power stations in Japan, to oil rigs on the Caspian Sea, to specialist aerospace companies, pharmaceutical companies, furniture manufaturers, car companies - even the British Royal Household (we supplied branded luggage tags for Buckingham Palace, and precision brass door numbers for Windsor Castle)... and the list is practically endless... It is vital however, that you know what materials are best suited for the intended use. We generally offer advice to customers before we produce goods, and in 90% of cases, send free samples so they can see what we offer. When a large company trusts you, they order time and time again. SOme of our (very large) customers place big orders 5 - 6 times a year. Focus on finding the best, most worthwhile customers - and treat them like kings. Never compromise on quality, and be prepared to answer the phone at any time of the day or night. See a handful of our clients here: tagmakers.co.uk/industrial-and-commercial
Thanks a lot for sharing! it really does help CNC startup like me. Ryan story and yours have different type of customers, both are extremely helpful, its like 2 very good options and mindset for me to try. If there are more advice you would give, I would love to hear it! Again, appreciate it!
@@thanhnhanhuynhnguyen3652 Like any business, a good strategy s very important. Today, a business has to be online, and if you are selling to the public and/or to industry, your website must be easy and logical to use, and very easy for customers to place an order, or make an enquiry. The website must also look and behave very professionally - a bad website tells customers you're probably a bad business-person too. But even running an online business, the "rules" of business still remain. Good financial management is important. Know your products supremely well - and remember - people will buy from you if you meet a need, or solve a problem - and what you sell adds value to your customers and THEIR business. I get a lot of phone calls and emails from companies who need tags and ID plates for a specific purpose. I do my best to advise them and in many cases send free samples so they can try them out before they decide on which is best for their needs. I keep contact with them, both to get feedback as well as to offer advice. I NEVER try to force a sale... NEVER! On average, when we send out samples, about 8 out of 10 enquiries result in orders. On many occasions, we work through the night to meet urgent deadlines - especially for large orders. Look after GOOD customers, and get rid of bad ones. Bad customers COST you more than they are worth... I am quite happy for such customers to take their business to my competitors. When a perron calls and starts the conversation asking about discounts, I immediately say I do not offer discounts, but am happy to listen to what they need. Sometimes they keep raising the issue of discounts and "cheap" prices, and then I politely end the call. I do not sell "cheap". My prices reflect value - value that the customer will derive, and which will benefit their business. Rather have my competitors have problems and incur losses... I only want GOOD customers who add value to my business. Avoid people who try hard to get you to lower prices - tell them to shop on eBay... In this way, you win the CUSTOMER - not the SALE. Never try to force a sale - most people don't like it. If you serve a customer well, and prove that what you are offering helps them solve a problem, or meet a critical need, not only will they place the order, they will TRUST you and come back time and time again. I have several hundred company customers who started ordering when I opened my business, and who come back regularly... Some place orders EVERY DAY (including weekends). I have six very large and important customers who place such daily orders - and every morning we engrave their tags and post them - even on Christmas Day! We get the engraving data emailed to us by 8 in the morning - and by lunch time we have engraved up to 2000 tags, which are then posted that afternoon. My customers can telephone any time of the day or night. If I am near the phone I will answer it - even at 3 in the morning. Find and keep good, valuable customers - there are many customers you don't want... Making a SALE is not the same as making a PROFIT. In a lot of cases, you can make better PROFITS by not making a sale! Business is not about "selling"... it is about providing value to other companies, and making a good profit yourself.
I am a beginner to woodwork, the main test I have with this bundle th-cam.com/users/postUgkxTNB_zFBSnTo_O1PqfVUwgi7ityw0JlKt is that I think that its hard to settle on a choice of the plan and outline to use as there are a large portion of them there. Nonetheless, I like the simple stride to step directions laid out there.
My son at 15 has made more then this guy. He now has 12 machines and employs 20 people. But has 92% profits after all landing costs. This cost alot of money to operate this type of business. I own a machine shop. My son learned Cnc from me along with other machines I got in my shop. He isn't putting profits because he is full of it. I've helped my son learn how profits r made and how to build his business. He has free rent and pays no electricity because he is operating out of my old warehouse shop. This kid isn't including those cost and the cost of programs and supplies for operating costs. My son wouldn't make 92% profits if he didn't have my oldshop and that is off my powerbill. This guy is full of it. I bet he is only making 25% off the 500k. My son also uses my machine shop to advertise his business and that's alot of cost he don't have.
This is the video I needed to see. I’m 20 years old and I’ve been woodworking for almost my entire life and I always hear “oh you should sell this stuff on Etsy” but I never would think it would work. Maybe I give it a try!
There's quite a bit to learn here, but I think you glossed over some important points: 1. The first person to market has a MASSIVE advantage. The real MVP of this story is market timing. An interesting topic for the future would be your product iteration and thought process on the way to coming up with the docking station. 2. A good business needs a high barrier of entry. The idea of a docking station is easy to replicate and rip off. It's why, even though you made a fair amount of money due to your first mover advantage, you don't (I'm guessing) have an international business that is the industry leader in docking stations. 3. People are blind to their own advantages. You're overlooking the HUGE advantage of having a low / free rent area to work in. Having an easily accessible space to run that machine is MASSIVE. Most people don't have that. I'm not saying everyone should have access to a barn. I'm saying we're blind to the things we each have going for us. Nobody is truly self made. Everyone on this planet has unique advantages that they're likely overlooking. The way it came across in the video, it feels like you're seriously undervaluing your parent's horse barn. ;) That being said. Good job man. Seriously. You busted your ass and probably graduated college debt free. As someone who did something similar I understand how hard that is and have mad respect. :)
You don't have to be an international conglomerate to make a little cash and plenty of people can find the space if they just rely on parents, friends, and nice people. You would just have to cover electric cost if you drive up the bill.
"No billionaire is self-made, and you can't bake an apple pie without first inventing the universe." Those are thought-provoking ideas, but not something we need to slap onto every conversation. Some people do exceedingly well compared to their peers: they're self-made. -> I bought apples, sugar, and flour yesterday and made an apple pie: it was homemade.
Just found a CNC machine tonight and used Google to find this video. All I can say is WOW! Because my mind had just started reverse engineering the very same info you are sharing. I am motivated even more now! Thanks Bro!!
Fantastic, am working in a company that make furniture and am operating a CNC router, sometimes I just ask my self questions like where can I get money to purchase a small CNC router to do my projects and eventually earn extra income, and how can I start so that I end up quitting my job and focusing on my business, so you inspired me a lot.
One lesson I learnt - the mistake is the come up with what we think is a brilliant idea so good that everyone will see that they have to have one. The sensible way is to find what they want/need. To do that you have to do your research, ask questions, be very observant. Also, realise that you not in the business of selling widgets, you are here to help solve a problem for someone.
Words are cheap. Why not show your gratitude by giving him a complimentary upgrade to your newest machine? I literally would not have even known you make CNC machines if not for this video.
How he made 500k = Be first, with a popular product, get lucky. It is not the CNC that made you 500k. The CNC gave you an opportunity but the rest was skills you had and luck.
New ideas are waiting to be born all the time. He is telling you what his thought process was and what need in customers he targeted. It's up to you to learn from his story and create your own success.
$500,000 thats more than I will male in my entire life working for a company and you made it as a student wow! thanks for sharing your actual products and ideas most people talk about attitude but never show what they actual make!
You definitely got into Etsy at the right time there's no way starting in 2023 that you would even come close to that. Great video though and great work and I'm proud of you man for doing it figured it out..
Lol people have been saying that every year since etsy has been out. Just need the right product, etsy is bigger than its ever been and people make millions still, even with new products.
Thank you man! You are truly an inspiration to me. I have just started my CNC furniture company last year here in Amsterdam and it is sometimes hard to find people with the same enthusiasm for woodwork. Grateful that there are people like you on the internet sharing so much on how they started their business. Cheers
Ik woon vlakbij Amsterdam en ik hou van CNC. Jammer dat je mensen op straat niet herkend als CNC houtbewerk liefhebbers. Misschien moet ik een.. I love CNC.. t-shirt gaan dragen 😊 Ik deel je passie en moeite om andere te vinden.
Mijn werkplaats zit in de NDSM werf nummertje 23, mocht je een keer in de buurt zijn klop dan zeker even op de deur. Gezellig over cnc´s praten met een bakkie koffie
If you make 8 of these docks every hour To make 50 000 you need 781 days working 8 hour every single day for 2.1 years. Monday to Sunday working 56 hours per week. To make those 50.000 you claim you made. These calculations exclude, finishing up, varnishing and wrapping each unit. Then you need to send the parcels too.. and let’s not forget about admin, keeping up with Etsys costumers etc… And also this machines are expensive. And they break, how many did you break? How much in repair costs? How much did you spend in materials too? To recap for you to have “earned” 500 000 With your calculations: You must of worked 781 days non-stop at an average of 10-11 hours a day. It would be $58 per hour before taxes. Excluding expenses, and material costs and machine repairs, without forgetting the cost of hiring staff..
Not to mention that one needs 50 000 or 5000 (if everyone buys 10 products) and one can wonder how without advertising (which costs money) anyone should have noted that this "company" and product exists
you're one of the few creators who got me into CNC. I made the mistake and went big too early. I bought he xcarve pro 4x4 as my first CNC at the start of this year. I got frustrated with easel, nobody has bought anything, and now I'm at the point of closing the doors, and selling my CNC. I've had a couple of problems with it, that I regret buying it. Watching this video has sparked interest again to go back and apply what you taught. Maybe this time around I can make something happen :( the CNC's been sitting in the garage since I gave up months ago. haven't made a single dime off of it...
Baby steps. Sometimes you need to burn yourself out developing the product before you bring CNC into the equation. I started making pens last year and I'm already clocking five digit sales totals and just now considering CNC now that I have products and a customer base.
Maybe this will help you , but everytime when you need that one last impossible push that you fell you want to give up , just try one more time and it will come to you. Just when you loose hope, then it reveals , or you ignore it and go downward even more ...
@@DaBuick didnt know I had to. Well.lets see, catch all.trays, flags, sport teams flags, signs, only about 100 different designs of those you can do, shall I go on?
Actually no, you don't have to come up with anything. You can just copy anybody else's (unprotected) product and sell that, it's all marketing. And people buy almost anything, walk into any Michael's store and look around. What is the utility of raffia or hollyhock balls or a "Home Sweet Home" sign? The real question is, are you gonna be HAPPY producing totally unoriginal crap all day just to pay your rent or mortgage?
@@mytuberforyouman just to pay the mortgage? If I was making what I needed to pay the mortgage on a side hustle, heck yes. Sign me up. Give me your ideas, I’ll use them. 😂
Brilliant stuff, well done and great to hear about your journey and success. Not many people would share their money making processes with people either so it is refreshing to hear you explain this to everyone. Like many business owners you seem to have gone through the long hours and difficult times to come out the other end, well done.
That's it. That's what I'm doing. I was going to get a plasma table and an engraver but im going to get a cnc machine instead 😊 you so much man, thank you thank you thank you!!!
It looks good to have a degree and a backup plan business is so volatile these days. Saying that though if i was making 250k a year it would get to my head and i would drop out.
Successful people don't go to college they hire college people because they have been trained to obey rules😅 get money higher the biggest brains in the industry, seem like you're smart Step two profit.
Man, it's great to have a passion for something that makes you killer money and really activates the creative parts of your brain. Pretty sweet gig. Having parents with a horse barn helps, I'm sure, lol! Cheers!
Says he can't show his design so 'it's doesn't get stolen', yet, 50,000 people have bought his design, apparently he doesn't think it can't be stolen by them? Lol.
@@someotherdude yes this. this video is highly sus.. i dont know anyone with a crappy wood dock.. let alone 50,000 people. not to mention the insane amount of wood dock on etsy
Why would anyone give this a thumbs down?!?! A young person starting up with nothing but a skill that he's learnt and progressing upwards and onwards. Kudos from me.
When you stand in daddy's horse barn where you have a cost free working place and got they thousands of bucks for the machine this is a start from something.
This is insane. Huge respect ! I have metalworking cncs for my own projects, did some hustle here and there for some other fellow aircraft builders but never figured out the product I wanted to spend the time working and with enough sales potential. My best success so far was dashboards, but the time spent drawing kills it for me, until I can figure out a way to semi-automate that process with a good website.
Curious how you are designing the dashboards. Are you drawing custom dashboards for each customer, or are you reusing shapes or modules, but just placing them differently? Do you have a link to your work?
My next move when I get the money is to get a CNC mill and lathe that can both cut aluminum. I have so many things I can make out of aluminum but I'm currently limited to 3d printing and it's just not strong enough for those parts. Also working on a strength-enhancing exoskeleton and designed most of the gloves, but many of the parts break due to how much combined speed and torque my servos have (also I custom designed the servos myself because high-torque linear servos are extremely expensive). When I start making metal parts I'm gonna go hard on this exoskeleton project.
Great job Ryan! Love what y'all are doing down the road. Wish we would've started sooner and could be already having a freindly competition amongst each other. We'll get there though. I think another big point which you somewhat touched on is being one of the first to offer a design/service that people want to buy. You will have sales from other offerings, but the unique ones are going to more than likely catapult you ahead of the competition faster
Thank You so much! I love what you have done and have done. I love your wide perspective on your business. You have a great attitude about your work and your life! I'm so glad My Friend introduced me to your videos. Thank You for sharing your knowledge and experience with those of us who so much appreciate what you are doing. Many happy positive thoughts are going your way today. KCP
Thank you so much, I really appreciate you and your friend. What else would you like to see from me? We have big plans for the future on the channel and on the business.
Instead of going crazy producing things nobody wants, do market research and find that special something that makes your product different and appealing to the users. Good you live in a country with thousands and thousand of potential buyers, sadly a situation alien to me living in an underdeveloped country in constant economic crisis. Congratulations for having this vision and realizing the path to success.
I started watching this to see what a machine like this is capable of and I was about to switch off until he mentioned the docking station. My daughter bought me one of these things as an extra stocking filler ( not that particular model ) and 3 months on it's still in its box. I have no use for it whatsoever ( and don't really see the point ) but so funny that this was mainly what the video was about 😁
Depends on what you're going to school for. I got an engineering degree and the knowledge and experience is worth all the money in the world. It opens the world up in a way you don't really understand otherwise. So glad I stuck it out and did it.
You don’t. Look at Steve Jobs and all the others but they have the drive to create and sell which most people don’t so they get guided in life to follow others - to college and other schooling methods.
@@braaap6292starting a business and making $250k a year is much more valuable than an engineering degree with college debt starting pay at like $70k. If it’s about the knowledge or “education” anyone can learn anything that you know just by taking the time to read on the subject. College is a waste of time and money. Unless you want to be an engineer or doctor etc..
machines don't work, but your knowledge is wealth, you are smarter than your CNC, many people have bigger CNC, but don't have the skills to do what you achieved with your smaller machine, first tool to money making is skills.
The point is selling for a profit and finding a customer for your product. So finding 5000 to 50.000 customers (depending on the selling price) is the point.
Man, well done! This is inspirational stuff! I've got a unique CNC at home I'm hoping to dial in a simple product for. It's amazing just how much money you made working with such a small-scale CNC. This really makes me want to have at it again and give Etsy a try. Thanks again!
Thank you for sharing your idea. You lost my interest when you said "I won't show you my original one because you might steal the idea and make it." You are the first woodworker I have watched that has done that. All of the others may have great ideas and not say a word about them. But what I do know is that they are confident in their skill and craft that they want everyone to succeed. They give great advice so people want to watch more and more. Glad you found what is working for you.
Being the original maker of the product is huge in being successful on this project. Making it efficient on your end is how you make it last. Now so many people are making things like it that pretty much no one is making any money at it.
Your video really made me want to give this a try making some custom wood items, but when I looked up the price of that Laguna IQ CNC next to you ($14,000) I'll have to wait a while on that.
Start small... MPCNC. Definitely not the best money can buy, but you can have it running for under $600-$700. If you have a computer already that is. ;-)
Yeah, I've been playing with these lines and have recognised the speed and efficiency of CNC machines because wood products are being produced so cheaply. There is no money to be made without serious speed or extreme special one offs.
2 words: craft fair. 3 big fairs can be your whole year. Then you just work at your leisure, accumulating goods for the fairs. Sell all at once, do it over again
Hello Ryan. Now I live in another country far from my workshop. Now I have no woodworking machines. But I have a large cnc router 1300x2500mm. I also have a laser machine 1000x1600mm. There is good plywood in this city. I made a children's chair with various height adjustments. I have sold 3 of the 4 chairs I have made. I like it but I still want to go home and do woodworking in my workshop. There is no good plywood in my city, but I have large remnants of oak and beech. Do you think I can compete with those sellers from other cities? Or do you need to create some kind of unique product? A big problem for me is online shopping. They cut prices way too much.
It is like selling brides' dresses. A lot offer bulk for a cheap price, so you have to go offer personal stuff with an engraving of initials or motives people want. So they buy it for special occasions and make yourself a brand name as the go to guy for the personal solutions.
Rather than trying to figure out the very max you can get from a product, I have always been a believer that a successful business is based on an individual actually taking pride in their product while providing a good value to customers. It really doesn't matter if you are selling food or ammunition. I guess I got that shit all wrong.....
The most impressive part of this video to me is that your girlfriend's parents loaned you $6k ....? You *KNOW* this is a good guy when the gf's parents think this much of you. 👍
They probably thought it was a cheap method of testing if their daughters BF is worth it. Will he be stand up and pay us back? Or will we spend 6k getting rid of a bum before my daughter invests time with him.
@@randybobandy9828 Ha ha, I know if my daughter was dating a bum, $6k to get rid of him without any hard feelings from her towards me would be a *bargain.* 🤣
I love a video that has the opportunity to show us an actual CNC machine doing something that would help reveal just how you could use it to make $500,000, and then the presenter spends the entire time just talking. :-)
Makes me think about just how much of a waste school can be. I always say you can spend the same amount of effort and time doing something that makes you good money as you can doing something that makes you little. I restore and sell furniture and can make more profit just by buying pieces that are worth more by being selective.
Really good content about the technology, but I think you are selling yourself a bit short. I suspect you invested a huge amount of work into making this work. Respected! Cheers, JR
He said in his 7 tips video he put in like 80-100 hour weeks in his parents old horse barn while going to school. This guy has the worth ethic and smarts no doubt. Inspirational. Im myself and starting a fine furniture business, lots of competition in my area but im hopping to carve a niche.
Do you still have plans on instructional videos on the IQ Pro? I have an IQ Pro ATC and there is very little stuff out there on youtube. I am new to CNCs and trying to learn on a gifted IQ Pro. If you know of a resources for this machine please let me know. Thanks!
you can't have it all. God took your hair away young but damn, he gave you brains, drive, and personality! I'm envious of your start at such a young age but you're still an inspiration to me! Keep up the great work and congrats on all your success sir!
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About 10 years ago I made nearly $50,000 with my homemade CNC making a jewelry makers kit that I invented, I also got my 15 minutes of fame when I made a few things for the Martha Stewart Living magazine that was featured in their magazine. So I know from experience that it can be done.
Hello, what is a jewelry maker's kit?
@@nicholash8021 it was a kit to make Viking knit jewelry
Hi mate, I am new to all this CNC machine, looking up for ideas with it@@nicholash8021
WHY aren't you doing that today?
when ppl see this. theyll be like "500k in 2years?wow. thats easy!"... but they dont see the effort put down to get there... burnt down. stress. tired. alone. everything. thank you for not leaving that part out of the video.❤
My thoughts exactly
Is there anything easy in preaty much any bussiness? The clints don't care about the struggle behind any product. So i don't see the logic behind your comment..sorry but this is the reality.
My story is practically indential - but I started out by personalised engraving right from the get-go, Around 8 years ago, I determined that a single order for £10,000 is a lot better than 1000 orders for £10, so I moved in to engraving items for industrial customers. Today, my company has over 2000 corporate customers in 22 countries around the world - including many of the world's best-known companies. From starting on my kitchen table 12 years ago with a tiny Roland engraving machine doing 10 pet tags a day, to producing over 100,000 engraved industrial items annually - the secret is not about "how to engrave"... Regardless of what you do, operating and thinking in a business-like manner is what counts. You did this, and that's why you've succeeded.
Cool story, bro, and I'm not being sarcastic. Very motivating.
What do you engrave for industrial customers? I agree that having 1000 orders for 10 is crazy!
@@garrettp.5018 If you think about it, practically every organisation (not just companies) need engraved tags, plaques, ID plates at some point. I supply organisations in every sector - from advertising agencies to zoos (and every letter in the alphabet between). Over the years I have a (commercial) customer base of over 2000 organisations - many of whom order on a regular basis - and these extend to over 20 countries worldwide. We have made tags and plates for nuclear power stations in Japan, to oil rigs on the Caspian Sea, to specialist aerospace companies, pharmaceutical companies, furniture manufaturers, car companies - even the British Royal Household (we supplied branded luggage tags for Buckingham Palace, and precision brass door numbers for Windsor Castle)... and the list is practically endless...
It is vital however, that you know what materials are best suited for the intended use. We generally offer advice to customers before we produce goods, and in 90% of cases, send free samples so they can see what we offer.
When a large company trusts you, they order time and time again. SOme of our (very large) customers place big orders 5 - 6 times a year.
Focus on finding the best, most worthwhile customers - and treat them like kings. Never compromise on quality, and be prepared to answer the phone at any time of the day or night.
See a handful of our clients here:
tagmakers.co.uk/industrial-and-commercial
Thanks a lot for sharing! it really does help CNC startup like me. Ryan story and yours have different type of customers, both are extremely helpful, its like 2 very good options and mindset for me to try.
If there are more advice you would give, I would love to hear it!
Again, appreciate it!
@@thanhnhanhuynhnguyen3652 Like any business, a good strategy s very important. Today, a business has to be online, and if you are selling to the public and/or to industry, your website must be easy and logical to use, and very easy for customers to place an order, or make an enquiry.
The website must also look and behave very professionally - a bad website tells customers you're probably a bad business-person too.
But even running an online business, the "rules" of business still remain. Good financial management is important. Know your products supremely well - and remember - people will buy from you if you meet a need, or solve a problem - and what you sell adds value to your customers and THEIR business.
I get a lot of phone calls and emails from companies who need tags and ID plates for a specific purpose. I do my best to advise them and in many cases send free samples so they can try them out before they decide on which is best for their needs. I keep contact with them, both to get feedback as well as to offer advice. I NEVER try to force a sale... NEVER!
On average, when we send out samples, about 8 out of 10 enquiries result in orders. On many occasions, we work through the night to meet urgent deadlines - especially for large orders.
Look after GOOD customers, and get rid of bad ones. Bad customers COST you more than they are worth... I am quite happy for such customers to take their business to my competitors. When a perron calls and starts the conversation asking about discounts, I immediately say I do not offer discounts, but am happy to listen to what they need. Sometimes they keep raising the issue of discounts and "cheap" prices, and then I politely end the call. I do not sell "cheap". My prices reflect value - value that the customer will derive, and which will benefit their business. Rather have my competitors have problems and incur losses... I only want GOOD customers who add value to my business. Avoid people who try hard to get you to lower prices - tell them to shop on eBay...
In this way, you win the CUSTOMER - not the SALE. Never try to force a sale - most people don't like it. If you serve a customer well, and prove that what you are offering helps them solve a problem, or meet a critical need, not only will they place the order, they will TRUST you and come back time and time again.
I have several hundred company customers who started ordering when I opened my business, and who come back regularly... Some place orders EVERY DAY (including weekends). I have six very large and important customers who place such daily orders - and every morning we engrave their tags and post them - even on Christmas Day! We get the engraving data emailed to us by 8 in the morning - and by lunch time we have engraved up to 2000 tags, which are then posted that afternoon.
My customers can telephone any time of the day or night. If I am near the phone I will answer it - even at 3 in the morning.
Find and keep good, valuable customers - there are many customers you don't want... Making a SALE is not the same as making a PROFIT. In a lot of cases, you can make better PROFITS by not making a sale!
Business is not about "selling"... it is about providing value to other companies, and making a good profit yourself.
I am a beginner to woodwork, the main test I have with this bundle th-cam.com/users/postUgkxTNB_zFBSnTo_O1PqfVUwgi7ityw0JlKt is that I think that its hard to settle on a choice of the plan and outline to use as there are a large portion of them there. Nonetheless, I like the simple stride to step directions laid out there.
in sales and profits are 2 different things, whats the profit on it? can have 500k in sales and 460k in material
My son at 15 has made more then this guy. He now has 12 machines and employs 20 people. But has 92% profits after all landing costs. This cost alot of money to operate this type of business. I own a machine shop. My son learned Cnc from me along with other machines I got in my shop. He isn't putting profits because he is full of it. I've helped my son learn how profits r made and how to build his business. He has free rent and pays no electricity because he is operating out of my old warehouse shop. This kid isn't including those cost and the cost of programs and supplies for operating costs. My son wouldn't make 92% profits if he didn't have my oldshop and that is off my powerbill. This guy is full of it. I bet he is only making 25% off the 500k. My son also uses my machine shop to advertise his business and that's alot of cost he don't have.
Exactly
Just a minor detail, it's not the destination, it's the journey, etc etc lol
He bought a $300,000 CNC machine..... how do you think his profits are? 📈
@@jonteesdale18 wut it's like 12K
This is the video I needed to see. I’m 20 years old and I’ve been woodworking for almost my entire life and I always hear “oh you should sell this stuff on Etsy” but I never would think it would work. Maybe I give it a try!
There's quite a bit to learn here, but I think you glossed over some important points:
1. The first person to market has a MASSIVE advantage. The real MVP of this story is market timing. An interesting topic for the future would be your product iteration and thought process on the way to coming up with the docking station.
2. A good business needs a high barrier of entry. The idea of a docking station is easy to replicate and rip off. It's why, even though you made a fair amount of money due to your first mover advantage, you don't (I'm guessing) have an international business that is the industry leader in docking stations.
3. People are blind to their own advantages. You're overlooking the HUGE advantage of having a low / free rent area to work in. Having an easily accessible space to run that machine is MASSIVE. Most people don't have that. I'm not saying everyone should have access to a barn. I'm saying we're blind to the things we each have going for us. Nobody is truly self made. Everyone on this planet has unique advantages that they're likely overlooking. The way it came across in the video, it feels like you're seriously undervaluing your parent's horse barn. ;)
That being said. Good job man. Seriously. You busted your ass and probably graduated college debt free. As someone who did something similar I understand how hard that is and have mad respect. :)
👍👍👍
You don't have to be an international conglomerate to make a little cash and plenty of people can find the space if they just rely on parents, friends, and nice people. You would just have to cover electric cost if you drive up the bill.
"No billionaire is self-made, and you can't bake an apple pie without first inventing the universe." Those are thought-provoking ideas, but not something we need to slap onto every conversation.
Some people do exceedingly well compared to their peers: they're self-made. ->
I bought apples, sugar, and flour yesterday and made an apple pie: it was homemade.
commie-talk, plain and simple excuse making.
Opportunity comes to those who are prepared.
Just found a CNC machine tonight and used Google to find this video. All I can say is WOW! Because my mind had just started reverse engineering the very same info you are sharing. I am motivated even more now! Thanks Bro!!
Hello, I am an Egyptian designer and professional operator on this project. I want to work. Can you help me?
Fantastic, am working in a company that make furniture and am operating a CNC router, sometimes I just ask my self questions like where can I get money to purchase a small CNC router to do my projects and eventually earn extra income, and how can I start so that I end up quitting my job and focusing on my business, so you inspired me a lot.
One lesson I learnt - the mistake is the come up with what we think is a brilliant idea so good that everyone will see that they have to have one. The sensible way is to find what they want/need. To do that you have to do your research, ask questions, be very observant.
Also, realise that you not in the business of selling widgets, you are here to help solve a problem for someone.
Its inspiring to see what you've done with our IQ Desktop CNC Ryan 👏🏼.
April Wilkerson seems to like your machines too.
Words are cheap. Why not show your gratitude by giving him a complimentary upgrade to your newest machine? I literally would not have even known you make CNC machines if not for this video.
@@alphaforce6998good call
stop using cheap round rails, its embarrassing
@@alphaforce6998 Why would they do that when now they can charge more for the free advertising? 😆
The entire key is that he was first to market with a nice product. All credit to him though , super impressive
How he made 500k = Be first, with a popular product, get lucky. It is not the CNC that made you 500k. The CNC gave you an opportunity but the rest was skills you had and luck.
exactly. "here is how i made $500k in 2 years...from 2016-2017 before the Etsy ecosystem was flooded"
New ideas are waiting to be born all the time. He is telling you what his thought process was and what need in customers he targeted. It's up to you to learn from his story and create your own success.
The title says "how I made..." it doesn't say, "I'm going to make you $500k"
@@eddiemartinez9492 Exactly 💯
Its called creativity
$500,000 thats more than I will male in my entire life working for a company and you made it as a student wow!
thanks for sharing your actual products and ideas most people talk about attitude but never show what they actual make!
You definitely got into Etsy at the right time there's no way starting in 2023 that you would even come close to that. Great video though and great work and I'm proud of you man for doing it figured it out..
Lol people have been saying that every year since etsy has been out. Just need the right product, etsy is bigger than its ever been and people make millions still, even with new products.
Yah. These days etsy is a lost cause there are way to many sellers that price so low to drown competitors its crazy
I will say the realization that charging by the job not the hour is the real trick to owning a quality business. It's the mind shift that is needed...
Thank you man! You are truly an inspiration to me. I have just started my CNC furniture company last year here in Amsterdam and it is sometimes hard to find people with the same enthusiasm for woodwork. Grateful that there are people like you on the internet sharing so much on how they started their business. Cheers
Ik woon vlakbij Amsterdam en ik hou van CNC. Jammer dat je mensen op straat niet herkend als CNC houtbewerk liefhebbers. Misschien moet ik een.. I love CNC.. t-shirt gaan dragen 😊 Ik deel je passie en moeite om andere te vinden.
Mijn werkplaats zit in de NDSM werf nummertje 23, mocht je een keer in de buurt zijn klop dan zeker even op de deur. Gezellig over cnc´s praten met een bakkie koffie
Hows the company going man?
🙏🙏
Hello, I am an Egyptian designer and professional operator on this project. I want to work. Can you help me?
If you make 8 of these docks every hour
To make 50 000 you need 781 days working 8 hour every single day for 2.1 years.
Monday to Sunday working 56 hours per week.
To make those 50.000 you claim you made.
These calculations exclude, finishing up, varnishing and wrapping each unit. Then you need to send the parcels too..
and let’s not forget about admin, keeping up with Etsys costumers etc…
And also this machines are expensive. And they break, how many did you break? How much in repair costs? How much did you spend in materials too?
To recap for you to have “earned” 500 000
With your calculations:
You must of worked 781 days non-stop at an average of 10-11 hours a day.
It would be $58 per hour before taxes.
Excluding expenses, and material costs and machine repairs, without forgetting the cost of hiring staff..
Not to mention that one needs 50 000 or 5000 (if everyone buys 10 products) and one can wonder how without advertising (which costs money) anyone should have noted that this "company" and product exists
I love hearing stories like this from young innovative people. 'Upscaling' is the key to business success.
Not always. Knowing when to stay small and agile is important too
you're one of the few creators who got me into CNC. I made the mistake and went big too early. I bought he xcarve pro 4x4 as my first CNC at the start of this year. I got frustrated with easel, nobody has bought anything, and now I'm at the point of closing the doors, and selling my CNC. I've had a couple of problems with it, that I regret buying it. Watching this video has sparked interest again to go back and apply what you taught. Maybe this time around I can make something happen :( the CNC's been sitting in the garage since I gave up months ago. haven't made a single dime off of it...
Baby steps. Sometimes you need to burn yourself out developing the product before you bring CNC into the equation. I started making pens last year and I'm already clocking five digit sales totals and just now considering CNC now that I have products and a customer base.
Maybe this will help you , but everytime when you need that one last impossible push that you fell you want to give up , just try one more time and it will come to you. Just when you loose hope, then it reveals , or you ignore it and go downward even more ...
Thats pretty sad. Its easy to sell things made by cnc. Even simple things.
@@bsr8129 you can’t even list some ideas. Just say “simple things” 😂
@@DaBuick didnt know I had to. Well.lets see, catch all.trays, flags, sport teams flags, signs, only about 100 different designs of those you can do, shall I go on?
So basically, we need to come up with a good idea that people are willing to buy. Got it. Glad you have been successful in your passion!
🤔
Actually no, you don't have to come up with anything. You can just copy anybody else's (unprotected) product and sell that, it's all marketing. And people buy almost anything, walk into any Michael's store and look around. What is the utility of raffia or hollyhock balls or a "Home Sweet Home" sign? The real question is, are you gonna be HAPPY producing totally unoriginal crap all day just to pay your rent or mortgage?
@@mytuberforyouman just to pay the mortgage? If I was making what I needed to pay the mortgage on a side hustle, heck yes. Sign me up. Give me your ideas, I’ll use them. 😂
Brilliant stuff, well done and great to hear about your journey and success. Not many people would share their money making processes with people either so it is refreshing to hear you explain this to everyone. Like many business owners you seem to have gone through the long hours and difficult times to come out the other end, well done.
Exactly
Did not make sense to go to college in those conditions. Pure waste of time.
your thinking is what made you the money, you asked the right questions for example asking how instead of why.
My favorite part was when you talked about your money troubles while standing in your parents horse barn.
And getting a six grand loan from his gf's parents lmao
Dude obviously comes from some kind of money between the two sets of parents
It's never about what you DO. It's always about how you SELL what you do.
No money is ever made until a sale takes place.
That's it. That's what I'm doing. I was going to get a plasma table and an engraver but im going to get a cnc machine instead 😊 you so much man, thank you thank you thank you!!!
I run the same Onsrud at work, just bigger tables, 72"x 96". No complaints. Very user friendly.
I'm starting my journey here in Brazil in this way (but a bit latter on my life), your story is very inspiring!!! Thanks for sharing with us!
Hermano te deseo éxito !! Dime cómo te está yendo ! Yo también estoy empezando ! Saludos desde puerto rico !
I'm skeptical. If I was making 250,000 a year I don't think I would bother with college.
Do a business degree.
It looks good to have a degree and a backup plan business is so volatile these days. Saying that though if i was making 250k a year it would get to my head and i would drop out.
He said "sales" not profit. He had to hire someone and materials/shipping / etsy fees etc.
Successful people don't go to college they hire college people because they have been trained to obey rules😅 get money higher the biggest brains in the industry, seem like you're smart Step two profit.
Most of these kinds of videos are just clickbaity scam, but you actually answered what was in the title, so thanks for that.
Man, it's great to have a passion for something that makes you killer money and really activates the creative parts of your brain. Pretty sweet gig. Having parents with a horse barn helps, I'm sure, lol! Cheers!
Love to see another successful hard working aggie. I'm headed to college station tomorrow for my son's graduation from T A&M.
I love that I’m watching this while my phone is charging on something you probably made! My wife bought me a personalized dock back in 2017 😍
lol you weren’t the first person making docking stations 😂
Incredible man!!! Most people go their whole lives without figuring out what you did!!! Congrats..:)
Says he can't show his design so 'it's doesn't get stolen', yet, 50,000 people have bought his design, apparently he doesn't think it can't be stolen by them? Lol.
This young man just proved the dilemma that entrepreneurship is just as if not more valuable than a college education ... nice work
There's a sucker born every minute.... generally they think they can make half a million $ with almost no effort.
@@someotherdude yes this. this video is highly sus.. i dont know anyone with a crappy wood dock.. let alone 50,000 people. not to mention the insane amount of wood dock on etsy
Why would anyone give this a thumbs down?!?! A young person starting up with nothing but a skill that he's learnt and progressing upwards and onwards. Kudos from me.
When you stand in daddy's horse barn where you have a cost free working place and got they thousands of bucks for the machine this is a start from something.
A persons name and reputation is irreplaceable! 😎🇺🇸. Well done young man.
This is insane. Huge respect ! I have metalworking cncs for my own projects, did some hustle here and there for some other fellow aircraft builders but never figured out the product I wanted to spend the time working and with enough sales potential. My best success so far was dashboards, but the time spent drawing kills it for me, until I can figure out a way to semi-automate that process with a good website.
Thanks for the support!
Curious how you are designing the dashboards. Are you drawing custom dashboards for each customer, or are you reusing shapes or modules, but just placing them differently? Do you have a link to your work?
My next move when I get the money is to get a CNC mill and lathe that can both cut aluminum. I have so many things I can make out of aluminum but I'm currently limited to 3d printing and it's just not strong enough for those parts. Also working on a strength-enhancing exoskeleton and designed most of the gloves, but many of the parts break due to how much combined speed and torque my servos have (also I custom designed the servos myself because high-torque linear servos are extremely expensive). When I start making metal parts I'm gonna go hard on this exoskeleton project.
Great job Ryan! Love what y'all are doing down the road. Wish we would've started sooner and could be already having a freindly competition amongst each other. We'll get there though. I think another big point which you somewhat touched on is being one of the first to offer a design/service that people want to buy. You will have sales from other offerings, but the unique ones are going to more than likely catapult you ahead of the competition faster
Thank You so much! I love what you have done and have done. I love your wide perspective on your business. You have a great attitude about your work and your life! I'm so glad My Friend introduced me to your videos. Thank You for sharing your knowledge and experience with those of us who so much appreciate what you are doing. Many happy positive thoughts are going your way today. KCP
Thank you so much, I really appreciate you and your friend. What else would you like to see from me? We have big plans for the future on the channel and on the business.
This video got me into CNC. Can't wait to see where it goes!
Howd it go
Good for you dude,,working hard and paying your way👍🏻
You learned more out of college than in. Great video
Video starts at 6:00. He personalizes things like everyone else. You're welcome.
Instead of going crazy producing things nobody wants, do market research and find that special something that makes your product different and appealing to the users. Good you live in a country with thousands and thousand of potential buyers, sadly a situation alien to me living in an underdeveloped country in constant economic crisis. Congratulations for having this vision and realizing the path to success.
What country do you live in? 🤔
I started watching this to see what a machine like this is capable of and I was about to switch off until he mentioned the docking station. My daughter bought me one of these things as an extra stocking filler ( not that particular model ) and 3 months on it's still in its box. I have no use for it whatsoever ( and don't really see the point ) but so funny that this was mainly what the video was about 😁
I will buy it, how much?
Well done young man, awesome job and you are on your way! 👍🏻💥👏🏻
A lot more to come I hope!
"I started with nothing but a $10,000 loan and an old horse barn" 😂
Still, I don't hate the video
And what happen
you are a great entrepreneur and a great credit to your mum and dad!
Thank you so much!
if you can make 250k in a year, why do you need to go to college? I would be more than happy with that kind of paycheck.
Unless you are a doctor or lawyer college is a ripoff
Depends on what you're going to school for. I got an engineering degree and the knowledge and experience is worth all the money in the world. It opens the world up in a way you don't really understand otherwise. So glad I stuck it out and did it.
You don’t. Look at Steve Jobs and all the others but they have the drive to create and sell which most people don’t so they get guided in life to follow others - to college and other schooling methods.
@@braaap6292starting a business and making $250k a year is much more valuable than an engineering degree with college debt starting pay at like $70k. If it’s about the knowledge or “education” anyone can learn anything that you know just by taking the time to read on the subject. College is a waste of time and money. Unless you want to be an engineer or doctor etc..
Congratulations, bro, with your success and thanks for sharing your story.👍
You're an inspiration man. Great job!
very happy for you big dog that was the smartest loan ever!
The hustle is with you strong.
Wow, man, this is truly motivating! You did a great job and thank you for sharing this!
machines don't work, but your knowledge is wealth, you are smarter than your CNC, many people have bigger CNC, but don't have the skills to do what you achieved with your smaller machine, first tool to money making is skills.
The point is selling for a profit and finding a customer for your product. So finding 5000 to 50.000 customers (depending on the selling price) is the point.
Man, well done! This is inspirational stuff! I've got a unique CNC at home I'm hoping to dial in a simple product for. It's amazing just how much money you made working with such a small-scale CNC. This really makes me want to have at it again and give Etsy a try. Thanks again!
Dude you need to share your story with Dave Ramsey... you put yourself through college debt free.... awesome job man!!!!!
wow this guy talk so much about things that are so obvious like 10 years ago and he is so excited about his discovery.
Thank you for sharing your idea. You lost my interest when you said "I won't show you my original one because you might steal the idea and make it." You are the first woodworker I have watched that has done that. All of the others may have great ideas and not say a word about them. But what I do know is that they are confident in their skill and craft that they want everyone to succeed. They give great advice so people want to watch more and more. Glad you found what is working for you.
There are very few people on TH-cam that actually make a living and employ people via woodworking, most make a living from TH-cam.
Can I ask where you live?
Being the original maker of the product is huge in being successful on this project. Making it efficient on your end is how you make it last.
Now so many people are making things like it that pretty much no one is making any money at it.
Your video really made me want to give this a try making some custom wood items, but when I looked up the price of that Laguna IQ CNC next to you ($14,000) I'll have to wait a while on that.
Start small... MPCNC. Definitely not the best money can buy, but you can have it running for under $600-$700. If you have a computer already that is. ;-)
A 3018 is the cheapest way to learn.
Yeah, I've been playing with these lines and have recognised the speed and efficiency of CNC machines because wood products are being produced so cheaply. There is no money to be made without serious speed or extreme special one offs.
2 words: craft fair. 3 big fairs can be your whole year. Then you just work at your leisure, accumulating goods for the fairs. Sell all at once, do it over again
Hello Ryan. Now I live in another country far from my workshop. Now I have no woodworking machines. But I have a large cnc router 1300x2500mm. I also have a laser machine 1000x1600mm. There is good plywood in this city. I made a children's chair with various height adjustments. I have sold 3 of the 4 chairs I have made. I like it but I still want to go home and do woodworking in my workshop. There is no good plywood in my city, but I have large remnants of oak and beech. Do you think I can compete with those sellers from other cities? Or do you need to create some kind of unique product? A big problem for me is online shopping. They cut prices way too much.
It is like selling brides' dresses. A lot offer bulk for a cheap price, so you have to go offer personal stuff with an engraving of initials or motives people want. So they buy it for special occasions and make yourself a brand name as the go to guy for the personal solutions.
Rather than trying to figure out the very max you can get from a product, I have always been a believer that a successful business is based on an individual actually taking pride in their product while providing a good value to customers. It really doesn't matter if you are selling food or ammunition. I guess I got that shit all wrong.....
I love the honesty about the tears and the pressure of needing to make money at 4am
You’re an impressive man congratulations on your achievements
Brilliant video. Very informative and inspiring. Well done!
Glad you enjoyed it!
Very informative. If you want to cut, what depth does it cut? Which materials ?
Thanks for this. As, I’m shifting now from personal items for locals to thinking bigger. Thanks for the confirmation.
7:53 to get the answer and skip the blabering
The most impressive part of this video to me is that your girlfriend's parents loaned you $6k ....? You *KNOW* this is a good guy when the gf's parents think this much of you. 👍
They probably thought it was a cheap method of testing if their daughters BF is worth it. Will he be stand up and pay us back? Or will we spend 6k getting rid of a bum before my daughter invests time with him.
@@randybobandy9828 Ha ha, I know if my daughter was dating a bum, $6k to get rid of him without any hard feelings from her towards me would be a *bargain.* 🤣
@BasicFolders exactly lol. Could be a very cheap way of saving your daughters time and heartache.
I just start in cnc, thanks for sharing your story
I love a video that has the opportunity to show us an actual CNC machine doing something that would help reveal just how you could use it to make $500,000, and then the presenter spends the entire time just talking. :-)
Makes me think about just how much of a waste school can be. I always say you can spend the same amount of effort and time doing something that makes you good money as you can doing something that makes you little. I restore and sell furniture and can make more profit just by buying pieces that are worth more by being selective.
Thank you very much Ryan, very inspirational!
Really good content about the technology, but I think you are selling yourself a bit short. I suspect you invested a huge amount of work into making this work. Respected! Cheers, JR
He said in his 7 tips video he put in like 80-100 hour weeks in his parents old horse barn while going to school. This guy has the worth ethic and smarts no doubt. Inspirational. Im myself and starting a fine furniture business, lots of competition in my area but im hopping to carve a niche.
Do you still have plans on instructional videos on the IQ Pro? I have an IQ Pro ATC and there is very little stuff out there on youtube. I am new to CNCs and trying to learn on a gifted IQ Pro. If you know of a resources for this machine please let me know. Thanks!
What a great video, mindset and approach is everything
I sure appreciate your willingness to share
The 20 dollars paid for the material and stains to make the product! The extra 10 for engraving the product was the profit margin per customer!
Thanks for sharing!! You’re truly a great inspiration!! 😃
This is awesome! I would have geeked out and bought like 5 CNC machines during the process lol
Suggestion: index your videos so viewers can see what's covered, advance to the subjects most important to them, etc.
Amazing! Thank you very much for sharing this!
Thank you for the great walkthrough of your thought process.
I like stories like this!..Congrats to you brother
I appreciate it!
you can't have it all. God took your hair away young but damn, he gave you brains, drive, and personality! I'm envious of your start at such a young age but you're still an inspiration to me! Keep up the great work and congrats on all your success sir!
Cool. I'll be right back after I look up what a CNC machine is
wow - fantastic - not into CNC but love entrepreneurship and you certainly hit the mark !!
This is inspiring, Ryan. Thank you!
Thanks!!!! I thought about it but did not give it that much importance until now.
i love it dude, congrats =)
What CNC machine did you use? Where is it available?
Great vid and great determination 👌🏽
Thanks, it is very good example how it can be scaled.
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