Entrepreneurial Thoughts

[jpowell]

wats up fellas/ladies:

thinking of going into business for myself. Services, business. background on myself associates degree in accounting, bach degree in bus, cert personal trainer. too many people i have talked to say to go into business for yourself vs working with a gym or anybody else.

my plans are to start an e-company--face to face contact only via like Skype, and providing service through an encrypted email service.

carry products that will cater specifically to bodybuilders, gym rats, and the like.

i have a real good connect to where i can get sups (otc sups) at bulk prices sorta like what a store would pay. i will then mark these prices up accordingly to see a profit. but still be cheaper than say GNC.

i figure doing e-business id cut back on overhead, and dont need a storage just yet, because i can get it shipped strate from to your door via the manufacturer.

of course id like a partner, but id prefer it b a local person so we can meet daily/weekly to go over plans. but that may be down the road.

right now still in brainstorming phase and open to any and all feedback--

lemme no what you guys think.

thanks-

jpowell

[JohnnyVegas]

Owning a business has been the most rewarding, and soul crushing, thing I have done. I started in 1994, so almost 20 years in business. Holy crap, where did all the time go?

Online retailing? Come up with a good business name, domain name, identity (including logo) and start with a Wordpress template that is set up for e-commerce. That will get you up and running if your supplier drop ships. If you need to have stock, then you will need a lot more capital. I have a second hobby business that sells t-shirts to a very narrow niche market and it takes a lot of work just to process orders, throw stuff in boxes and get them shipped. Hopefully you don't need to deal with customers much, otherwise you will need fatter margins to cover increased costs.

Competition is massive, so you would need actual marketing dollars. I wouldn't consider starting this business if you don't have a marketing budget.

Gotta go to the gym, but I look forward to seeing where this thread goes.

[Lunk1]

What kind of srvives would you be providing tat you would need to do so through encrypted E-mail?

If we are talking legal and legitamite supps then I think one has to consider the HUGE number of online companies already in existance. What could you do or provide to set yourself apart from the rest of the pack!

[jpowell]

Owning a business has been the most rewarding, and soul crushing, thing I have done. I started in 1994, so almost 20 years in business. Holy crap, where did all the time go?

Online retailing? Come up with a good business name, domain name, identity (including logo) and start with a Wordpress template that is set up for e-commerce. That will get you up and running if your supplier drop ships. If you need to have stock, then you will need a lot more capital. I have a second hobby business that sells t-shirts to a very narrow niche market and it takes a lot of work just to process orders, throw stuff in boxes and get them shipped. Hopefully you don't need to deal with customers much, otherwise you will need fatter margins to cover increased costs.

Competition is massive, so you would need actual marketing dollars. I wouldn't consider starting this business if you don't have a marketing budget.

Gotta go to the gym, but I look forward to seeing where this thread goes.

valid points--I have a budget set for marketing. as things progress itll grow. for now tho--what i plan on doing is reaching out to people (target) who i know will use the products and my services. this includes teens, men, and women who consistently workout and train.

myself being the biggest marketing tool, esp to the teens- and young guys who rely on sups. They see me getting it in in the gym, and also noticed that pre/post im drinking xxx sup- their thoughts are gonna be hey lemme try it out, just like trends our now.

then word of mouth will travel. i also plan on setting up ad on numerous websites--wich is where the money is reli gonna be going out.

almost 20 years in man, good stuff. def challenging im sure. but it must be some what cool seeing you have a hobby business. lol.

thanks for the tips broski.

[jpowell]

What kind of srvives would you be providing tat you would need to do so through encrypted E-mail?
encrypted would be strictly communicated between me an partner as time grew. mainly for security and no peekers seeing whats going on stealing ideas.
If we are talking legal and legitamite supps then I think one has to consider the HUGE number of online companies already in existance. What could you do or provide to set yourself apart from the rest of the pack!

yes, legit and legal. I am aware of the huge number of competitors, but like i said, i can get this stuff at a major discount and make up (no exaggeration) 40% and still be cheaper than where many guys go for products. its not what about i can verbalize or put into words what i can do to stick out--i rather show through actions--but its gonna be top of the line customer service.

i realize nobody knows my motives, but being is business is about money, but my difference wod come into to guarantee that nobody would beat my prices or customer service.

[Lunk1]

yes, legit and legal. I am aware of the huge number of competitors, but like i said, i can get this stuff at a major discount and make up (no exaggeration) 40% and still be cheaper than where many guys go for products. its not what about i can verbalize or put into words what i can do to stick out--i rather show through actions--but its gonna be top of the line customer service.

i realize nobody knows my motives, but being is business is about money, but my difference wod come into to guarantee that nobody would beat my prices or customer service.

Best of luck...it seems to be a very flooded market.

[jpowell]

Best of luck...it seems to be a very flooded market.

not even sure gonna do it.

just contemplating, brainstorming, tryna get outsiders thoughts.

thanks for your blessing broski.

[JohnnyVegas]

yes, legit and legal. I am aware of the huge number of competitors, but like i said, i can get this stuff at a major discount and make up (no exaggeration) 40% and still be cheaper than where many guys go for products. its not what about i can verbalize or put into words what i can do to stick out--i rather show through actions--but its gonna be top of the line customer service.

i realize nobody knows my motives, but being is business is about money, but my difference wod come into to guarantee that nobody would beat my prices or customer service.

Is a 40% margin good in that business? You would need to move a lot of volume if you needed warehouse space and a few employees.

Be careful with partners. I have been through several. They usually don't work out. In the end there is always an argument about who does more, or who's job is more important. The sales guys says, "this business is nothing without me, I brought all these clients to the door and I can take them with me." and the production guy says, "I make this place run, I get every order out the door on time with no mistakes, you could never do that." The money guys says, "ideas are a dime a dozen, everyone has an idea but it was my money that made this place exist so I could get a new sales guy and production guy and continue without BOTH of you guys." By the way, it is best to be the money guy, but you have the most to lose.

[jpowell]

Is a 40% margin good in that business? You would need to move a lot of volume if you needed warehouse space and a few employees.

Be careful with partners. I have been through several. They usually don't work out. In the end there is always an argument about who does more, or who's job is more important. The sales guys says, "this business is nothing without me, I brought all these clients to the door and I can take them with me." and the production guy says, "I make this place run, I get every order out the door on time with no mistakes, you could never do that." The money guys says, "ideas are a dime a dozen, everyone has an idea but it was my money that made this place exist so I could get a new sales guy and production guy and continue without BOTH of you guys." By the way, it is best to be the money guy, but you have the most to lose.

this is how im looking at it:

i purchase 5k initially worth of product...stored at manufactuer location.

b/c i bought so much- i am able to get lets say evogen evp at $25.00 a tub--these sale online, in stores for 60.00

which means on this alone i can markup 90%-or 22$ for a total price of 47.50 + 2.96 in taxes--

with taxes, deliverly, markup, im still under any competitor price.

now figuring out overhead and whether its worth it, thas another story lol.

be like a personal training/sup store online.

[lovbyts]

If you are going to cater to BB and such since most of us have an excess of testosterone when the E2 isnt to high how about being a pimp to take care of our other physical needs.

[jpowell]

If you are going to cater to BB and such since most of us have an excess of testosterone when the E2 isnt to high how about being a pimp to take care of our other physical needs.

companionator--ive alrdy thought about it, but illegal except in vegas.

[JohnnyVegas]

companionator--ive alrdy thought about it, but illegal except in vegas.

It is illegal here, but legal in the surrounding counties.

[gixxerboy1]

Supplement companies are hard. There is a ton of competition online and they are all competitive. Yes gnc is expensive and easy to beat but the hundreds of others arent

[jpowell]

Supplement companies are hard. There is a ton of competition online and they are all competitive. Yes gnc is expensive and easy to beat but the hundreds of others arent

gixx with no avi? something must be wrong.

you think it would be hard to compete even tho practically im just playing middle man?

[gixxerboy1]

gixx with no avi? something must be wrong.

you think it would be hard to compete even tho practically im just playing middle man?

yes. you dont think other people are doing that also?

[Chx beach 79]

If you don't do it, You will always regret it... You don't want to die wondering what if it worked... Over prepare and run extra tight numbers and go for it...

Good Luck and Godspeed!

[Armykid93]

If you don't do it, You will always regret it... You don't want to die wondering what if it worked... Over prepare and run extra tight numbers and go for it...

Good Luck and Godspeed!

Good advice. And it sounds like it won't break you financially to start this business. I say go for it. Eventually we will all be buying from you haha

[Chx beach 79]

Use grassroots marketing... Friends, Facebook, twitter... Read the book guerrilla marketing! It was a game changer for me...

[jpowell]

yes thas what i was thinking, just basic marketing skills to start off. and it wont break me to setup. it actually only reqs a small amount of money to get started. the biggest battled id face would be retaining clients on a consistent basis. other than that, i dont see failing due to any other issue.

[Chx beach 79]

yes thas what i was thinking, just basic marketing skills to start off. and it wont break me to setup. it actually only reqs a small amount of money to get started. the biggest battled id face would be retaining clients on a consistent basis. other than that, i dont see failing due to any other issue.

You have to run it super lean in this economy... Before you start come up with multiple ways to keep costs down... If you hire anyone, think about doing it on commission only or a profit share so there will be no waste, they will be more accountable, have more of a feeling of ownership and their pay is based on how much money they make the company. In return they can make more $ if they can cut it, if they can't you don't lose... If you need office space or storage go to a crumby part of town and negotiate rent and leases... You can get stuff cheap, just tell them what you want to pay, it's better then the owner/real estate company sitting on empty space... Your biggest expense is usually payroll! Including your own! You can do it and be successful... Business is just like putting together a puzzle. The first time it will take a while and be tricky but anyone can do it if they are diligent enough. If you do it again and again it gets easier and easier.. Good luck! We need more people helping our economy...

Also, I don't say this without experience... This is all from experience...

[cherrydrpepper]

Id say go for it life is pretty lame without a dream. If the market is saturated then do yours in a new and different way. It sounds like you already have some ideas for that. A lot of people in history have taken market share by doing something thats been done forever in a new or cheaper way. I too want to throw my hat in on a small business I just don't have the capital yet.

[jpowell]

yea, i have everything mapped out. of course shit sounds simple and im very optimistic, but i just dont feel i can pass up this opportunity.

like was mentioned i cant live wondering what if, etc.
who knows, mayb admin will give me a space at the bottom

[gixxerboy1]

yea, i have everything mapped out. of course shit sounds simple and im very optimistic, but i just dont feel i can pass up this opportunity.

like was mentioned i cant live wondering what if, etc.
who knows, mayb admin will give me a space at the bottom

you know there already is a supplement company here

Good luck to you. If its a small investment it may be worth a try. To me its not the money i'd loose but the time i could have put into something else

[MuscleInk]

you know there already is a supplement company here

Good luck to you. If its a small investment it may be worth a try. To me its not the money i'd loose but the time i could have put into something else

Well speak of the devil!!! Hey Gixx. You've been missed.

[gixxerboy1]

Well speak of the devil!!! Hey Gixx. You've been missed.

just a ton of stuff going on, so havent been on much.

[MuscleInk]

just a ton of stuff going on, so havent been on much.

Ya, told the guys you had a new gig and were a lot busier.

[jpowell]

you know there already is a supplement company here

Good luck to you. If its a small investment it may be worth a try. To me its not the money i'd loose but the time i could have put into something else

thas why i like this guy...shuts you down, but still leves the optimistic beliefs in the air. lol.