When mosquitos attack, this marketing manager creates a wristband to ward them off. The project is a swarming success!
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
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things and welcome. This is critical about your host foresight. Hustle school right! Have you back
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You just joined recently great to have you here for the first time, every down a show and telling a story of someone who creates a little more freedom for themselves
not everyone wants to be a full time. Entrepreneurs, but most people want more freedom. Most people want more options and choices
and that's what aside us can bring you. We have to know how to start the right one and that
try to hide on the show, not telling people to get part time, jobs
not telling people to participate in the gig economy, but actually create an asset for yourself. That's what it's all about, em
on the road to meet listeners and readers at my brand new book side, hustle from idea income in twenty seven days today, I'm in
cargo Illinois this actually my last
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Talk with you somewhere along the way now we're going to start
We got strong with a fantastic story. This is one of my
new favorites? It's about a corporate, employ a marketing manager
extra hundred and fifty thousand dollars selling mosquito wristbands that is threatened
two thousand dollars in a single year. In fact, and in addition to that huge success, there are a lot of lessons in the story. He didn't know
What about mosquitoes? He was just annoyed by them. Like everyone is, he didn't know.
About manufacturing, arrests, wristband but actual see he drawn some existing skills and some experience acquired from his job to figure it out. Sawdust schools,
about figuring things out. I think you're gonna, like this one,
bring it to you after this quick. Thank you to our sponsor
not you constant. Turkey has always had a knack for knowing what would sell all of that.
EL came as a result of his day job as a market
and you're. A software company has responsibilities, involve seeking out small businesses. That would benefit from having a better inventory system and in its previous job. That was
possible for sourcing medical supplies and equipment from China. These experiences given
exposure and knowledge needed to understand the different aspects of running a business. All that would
when useful, as men has always had some kind of sight us off some six.
For some not, but he was certainly also have the necessary skills to launch something bigger you into question
he had to figure out where what to sell and how to sell it. In his extensive
travels. He had found himself struggling to deal with mosquitoes, especially in the current
and other human places like Thailand, with the airplane restrictions
aerosols he found himself. Looking for a good anti mosquito product, it would be easy to travel with and still worked after much research. He decided to cry
a mosquito bracelet that would release
the Rainy, a substance that was proven to repel mosquitoes MAC, contacted me:
for suppliers to the online platform. Alibaba hunted for one
was willing and able to produce what he wanted. His idea
simply to create generic mosquito, responds and then slap a brand name on it to differentiate the product. From the rest, the name he chose
was invisible and not for a lot of people. This step might be intimidating, especially the prosper.
Of dealing with unknown suppliers far away, but not understood this process. He knew we just had a prospective suppliers on Skype
give them a call and choose the one with the best responsiveness and communication he says most people over complicate the step or never
the cars in the first place, but there's no
to have any pre existing contacts. There are many supply
who eager to work with you.
Talking to them on a simple phone call, would give you
information on how they do business in the second part of it
asian format was figuring out how he would movies products from supplier to consumer searching for a distribution company he
clay stumbled on fulfilled by Amazon, also known as FBI, a service
by Amazon that helps anyone store pack and ship their products. I talked,
A few times on the show, I always get lots of emails about it for a lot of people.
A lot of side, our by Amazon can be great. The
challenge with a slight learning curve in the process of setting up an Amazon, has strict rules about packaging and labelling
format. However, it was worth it because he could have a suppliers ship directly to Amazon Fulfilment Centres and he would
totally hands off. You wouldn't have to manage the inventory himself. All this would have been for not
Matt wasn't able to generate some kind of demand for his product. In fact, you would probably be a little crazy for
that was aware of this, and he listed envisage banned on indigo before even launched his hunch. That invisibility cell was quickly validated as he raised more than
thousand dollars being successful and crowd. Funding can be
out of its own, but the gist of what
did was just hustle. He says the most common
Make people make is simply listing their product and hoping for an audience to show up. Man didn't do that. He got to work
talking to everybody. He knew and pitching journalists. His.
Energy was to seek out journalists and writers who have covered similar products and then reach out to them with especial angle, format that angle
under promising and over delivering backers of invisible,
expect to receive a batch of five bracelets within two weeks of making their pledge of just nineteen dollars, he had committed to manufacture
two thousand responds before launching to ensure that they would
instantly right. A ship would backers place their order if you ever
a pledge to something I Kickstarter, owing to wait a year or sometimes longer for the item to show up. You know that this kind of issue,
already delivery schedule is rare. Building on this
did the INDIGO campaign and all the research
he had done about fulfilled by Amazon. The product was a tremendous success
a ban gross more than six hundred thousand dollars in the first year and with profit margins over fifty percent,
actually made more than three hundred fifty thousand dollars. Yet for such a huge profit, his start up costs were minimal after that first order he only
yelled at production when demand for invisible was validated is fulfilled by Amazon Account
just forty dollars at the beginning, as
began to sell more those fees increased, but he was also making a lot of money. Maybe
there is something else that happened randomly that also helped him a lot for better or worse panic.
Zeke a virus, brought a lot of attention to the need to avoid mosquitoes Matt. Never
The product as a precaution does Ega, because that will be
in the: U S: food and Drug Administration guidelines, but still people were definitely buying it as a response to that
demanded since fallen about other invisible continues to make more than the typical months salary, so to be clear, he's make,
more from the site I sought than he did in his full time, job the worst,
France was having a ten thousand dollars shipment seas of the border because of documentation issues which almost cripple the business at that point in time here
fly out and negotiate with border agents for them to release his goods. It turned out it wasn't there
because once you actually showed up, but the experience with frightening. In fact, the whole journey from
so far has been somewhat of an emotional rollercoaster, but it was all worth it
from the moment he made his first sale, he knew it stick with it, in fact, is thought was this works one customer down
millions to go.
He hasn't got to his millions yet, but he's doing pretty well. For those
thought about making installing a product like him, my husband vice versa, by
when I talk about all the time on social school, think about it,
no problem. You have to consider what product or service might solve that problem. If a product already exists
Can you make it better and then what
Have that idea find a manufacturer on a platform like Alibaba request samples, establishing credibility through crap?
funding and then launch on Amazon using them
I'll, buy Amazon system, as this
system that Matthews anyone can sign up for it and why,
not guaranteed to make sure in and fifty thousand dollars its wide open for experimentation. Since during this,
Jack. True to the spirit of side, hustling medicines gone on too
two more brands in completely different industries. He's now looking at
sorting and helping other clients with product launches, and, yes, he still selling mosquito bracelets. He says he
focus on a single product at first then shut
you go along to make sure you have continued success,
Do we mosquitoes attack? You call this
team, ok and also
as you call invisible and so much we get
about this. Congratulations to my first of all. I love you too,
Action on this found a way to take a little risk, but not too much uses fulfilled by Amazon system which, as I said, is accessible. It does have
but if a learning curve, but as you can see, the results can be worth it and he also figure
how to hack Alibaba, I a lot of people are intimidated.
Trying to find a manufacturer overseas, or that's also
simple, like there is a learning curve to that as well. But its doable now want to read you something.
Project was featured an entrepreneur magazine. I want to look up the article on theirs
Rapid stood out to me this paragraph says this: isn't it
mosquito repelling Whereabout to raise money on indigo. Last summer, the kite mosquito patch, a two by two
Instead, he Square also launched a campaign on the platform that product was an absolute hit.
Going past. Its initial funding all of seventy five thousand dollars in a mere four days. Not what is that suggest to you,
the reason I wanted to highlight. That is because people often ask me this is one of my most frequently asked questions I've entity
few times on the show, but people keep asking me,
if somebody else is already doing what you're thinking of well here is a great eggs.
But on the same platform, just
Previous summer. Somebody else,
on almost exactly what Matt was doing, it was a little bit different. It was
Adhesive square, not a bracelet, but still an attempt
a solution for the same problem. Instead of being
here it off by this instead of thinking like out too bad, I can't do this got to do something else that success
success is showing like hey. People are interested in this. If I create the right product, if I think about the right brandname, I get some details right.
They're very well might be more demand, for this suggests to restate
is because somebody else has created something similar to your idea, does not me
Shouldn't proceed very well may be a good sign.
Was. I said: I love this story there so much we could take from it and hope you will take something from it. Inspiration is good, but inspiration.
Action is so much better today
including links to everything I disguised filled by Amazon
Alibaba at mats project are excited school dot, com slashed to eight to only back tomorrow, uncritical about four sided, so small.
Transcript generated on 2020-08-06.