I just had a blast giving a presentation to a bunch of entrepreneurs in Kiev, Ukraine about how to make a whack ton of money selling physical products.
How can you do it? Offer 3 to 5 products. Price them at $25 to $35 each. Sell 25 to 35 of them a day. If you can keep that up, you’ll have made a million dollars after 12 months. It’s a simple formula, but It’ll take hard work to get to that point and keep it up.
If you can find a thousand people who are really interested in what you have to offer – whether it’s through Facebook, Instagram, a blog, or whatever – you can find 100 people in that group who to become your brand’s superfans. They’ll buy your products at full price and incessantly rave about how awesome your brand is to their friends and family online and offline until they buy it to get them to shut up about it.
Who wouldn’t want fans like that? You can find people that dedicated by targeting a superniche in a way that really speaks to them as human beings, even in a market that seems otherwise saturated.
Don’t feel like you’re a “bad” entrepreneur because you’re “only” making hundreds of thousands of dollars a year when you see others who have scaled up to 7, 8, or 9 figure success. Even multimillionaires have their insecurities. It’s all about the chase to live a life on your own terms, not someone else’s. Don’t lose sight of that.