Wow, its been over 2 months since I wrote a blog! Time goes by fast.
Update - Things are slowly moving along! Launched a new women's apparel brand, its not doing bad. Did about 9.5K in revenue in the last 30 days. Looking to x4 - x5 that for the next month. Its a very unique product line and something which I don't have lot of knowledge off so i am heavily dependent on 'fashion consultants'. I am just not getting the right conversion right now. It maybe the landing page as the CTR is pretty high - almost 6 - 7%.
There are a few things that I can think of
1) Landing page needs to provide additional and more detailed information
2) Quality of the images
3) The price point is to low, perhaps at a higher point, we might have better success. Someone in the past told me with clothing, people usually associate price with quality.
So apparently, we are the top 3 spenders in Toronto on Social Media. Pretty amazing feat that a small business operating from a warehouse in Mississauga is spending more on digital marketing then most fortune 500 companies. This also means we get free tickets to sporting events and dinner/lunches.
I been feeling a bit lot of place lately with feelings of anxiety. Kinda like a puzzle piece who is looking to find its place in the big picture. Especially yesterday, when I went out with a few classmates from my University program. Yes, I know - I am going out to a social event! Crazy eh. But I really didn't want to go but I felt 'hey give it a shot' - #yolo! While there I was having fun, there was a voice in the back of head keep bugging me with negative feelings. Like I was embarrassing myself or worse! I felt I was constantly being judged.
Business is going pretty well. We are in the 3rd month with the goal still in the back of head of $100M in sales. So far based on our previous months and not taking into consideration of the 4th Quarter jump. We are expected to make about 60M in sales. Still very far away from the goal. We are really focusing on bringing in the right products. Also expansion into the UK/Australia market will definitely help us reach our goal.
Funny fact, regarding MaRs Center - Information & Communications Technology 2013 Projects. So MaRs provided Entrepreneurs $166 Million of Investment across over 600 business and had a revenue of $93 Million. Which although is a remarkable achievement, it still makes me wonder, 166M invested and only 93M in revenue?
We eventually want to go public with our company! I am excited for that day. We are hoping for a fair valuation.
Check back on goals!
My list of New Year Resolution for 2015
Get involved with a local Charity - not complete
Go to India and work handson with a local charity - not complete
Loss weight and get fit - definitely not complete!
Eat Healthier and Diet - not complete
Spend More Time with Family - Getting there!
Hit 100,000,000 in Sales in 2015 - Getting there!
Learn Something New - Maybe take a course in human psychology - not complete!
Join Mauy Thai - I completely forgot about this one!
Create More brands and expand business into non-English speaking country - India underway, business registration takes so long.
Start my first commercial real estate project - Under process!
Thank you for reading!
Amar Gandhi, 28