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We sold $200,000,000+ worth of earbuds in 3.5 years.
All bootstrapped with zero funding.
Here’s how we did it. 🧵
All bootstrapped with zero funding.
Here’s how we did it. 🧵
In 2017, Ray Lee contacted me on @ecommercefuel (a platform for ecommerce pros).
Ray wanted to start a shoe business.
I told him not to.
That was the end of our interaction.
Ray wanted to start a shoe business.
I told him not to.
That was the end of our interaction.
@ecommercefuel Why did I advise him not to sell shoes?
I’d also tried to start a shoe biz a few years earlier.
SKU, colors, size, styles… too complicated.
Too much working capital needed.
We failed quickly.
I wanted Ray to learn from our failure.
I’d also tried to start a shoe biz a few years earlier.
SKU, colors, size, styles… too complicated.
Too much working capital needed.
We failed quickly.
I wanted Ray to learn from our failure.
@ecommercefuel A year later, Ray reached out to me again about another business.
He had just launched a consumer electronics brand with the artist Ray J.
Their catalog ranged from $1,200 e-bikes and hoverboards to Bluetooth mics and wireless speakers.
He had just launched a consumer electronics brand with the artist Ray J.
Their catalog ranged from $1,200 e-bikes and hoverboards to Bluetooth mics and wireless speakers.
@ecommercefuel But their business was struggling.
Even with a celeb co-founder, they were selling $100 a day on their webshop.
Ray asked me what they needed to change.
Even with a celeb co-founder, they were selling $100 a day on their webshop.
Ray asked me what they needed to change.
@ecommercefuel Honestly, I loved their vision.
They wanted to democratize consumer electronics.
So I wanted to help.
They wanted to democratize consumer electronics.
So I wanted to help.
@ecommercefuel I looked through their product categories to identify the most promising one.
The CAGR for wireless earbuds was insane.
And Google Trends, keyword volume… everything pointed in the right direction.
Earbuds should be the focus.
The CAGR for wireless earbuds was insane.
And Google Trends, keyword volume… everything pointed in the right direction.
Earbuds should be the focus.
@ecommercefuel Why earbuds?
Because Apple had just removed the headphone jack from iPhones and introduced AirPods.
So I had an idea:
Earbuds at HALF the price of Apple’s.
Kill the e-bikes and other random shit and become a premium wireless audio brand.
Because Apple had just removed the headphone jack from iPhones and introduced AirPods.
So I had an idea:
Earbuds at HALF the price of Apple’s.
Kill the e-bikes and other random shit and become a premium wireless audio brand.
@ecommercefuel On Monday, I gave Ray some homework.
Produce 3 landing pages and 20 ad creatives for a wireless audio brand.
Due Friday.
Meanwhile, I went into his ad accounts to set up pixels and prep campaigns.
Produce 3 landing pages and 20 ad creatives for a wireless audio brand.
Due Friday.
Meanwhile, I went into his ad accounts to set up pixels and prep campaigns.
@ecommercefuel I told him I wouldn’t work with him if he wasn’t serious and didn’t do the homework.
On Friday, he turned in the homework.
We were off to the races.
On Friday, he turned in the homework.
We were off to the races.
@ecommercefuel Our sales grew from $100 to $20,000 a day in less than two weeks.
200x sales with just one product.
Wireless earbuds.
200x sales with just one product.
Wireless earbuds.
@ecommercefuel Our sales skyrocketed over the next few years.
2018: $7 million
2019: $32 million
2020: $72 million
All bootstrapped. All profitable.
How did we do it?
2018: $7 million
2019: $32 million
2020: $72 million
All bootstrapped. All profitable.
How did we do it?
@ecommercefuel Our playbook:
Year 1: Google Ads + Facebook Ads
Year 2: Google Ads + Facebook Ads + influencer marketing
Year 3: Optimize the above and blitzscale
Year 1: Google Ads + Facebook Ads
Year 2: Google Ads + Facebook Ads + influencer marketing
Year 3: Optimize the above and blitzscale
@ecommercefuel My main takeaways?
1. Start with the right product.
2. Be like Ray. Do your homework. 🤓 😈
Now, want to know exactly how we scaled our influencer marketing?
Reply with INFLUENCER, and I’ll write a thread.
1. Start with the right product.
2. Be like Ray. Do your homework. 🤓 😈
Now, want to know exactly how we scaled our influencer marketing?
Reply with INFLUENCER, and I’ll write a thread.
@ecommercefuel If you’ve read this far, you deserve a voucher.
Use ROMAN20 to get 20% off on rayconglobal.com.
Use ROMAN20 to get 20% off on rayconglobal.com.
If you found this thread interesting:
1. Follow me @RomanEcom for anecdotes and insights about DTC, entrepreneurship, and investing.
2. RT the tweet below to share this story with your followers.
1. Follow me @RomanEcom for anecdotes and insights about DTC, entrepreneurship, and investing.
2. RT the tweet below to share this story with your followers.
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Grant Lee @thisisgrantlee
·
Apr 24, 2023
Incredible story