It’s Dave here. I’ve taken the reigns from Mr. Jackness in order to bring you an update on the status of my second ecommerce venture.
Regular listeners to this podcast will know that I sold my first company two years ago. After going on a hiatus for a couple of months, the call to entrepreneurship became too strong to ignore. So in June of last year, I started another business with the intention of generating a million dollars in revenue by March 2018.
It’s been 8 months now and I still haven’t broken through the 1M mark. But, revenue projections are on an upward trend and profit margins have increased. There have been some hiccups along the way but the business is growing. Given the numbers, we’re in a strong position to achieve $1.75 million in revenue by 2019.
- Getting brand registered (finally!)
- Amazon.ca continues to be a big revenue driver
- Google Shopping and Facebook Remarketing ads are also doing really well
- Hired a full-time VA
- Dispute with the buyer of my first company
- A major quality issue with a product that caused it to be removed temporarily from Amazon
- Slow eBay sales
- The Canadian version of our website was a complete flop
For more details of my 18-month ecommerce journey, check out the accompanying blog post here.
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