At Capitalism.com, we believe in celebrating and learning from the successes of others. It is for this very reason we often feature profiles of accomplished entrepreneurs within our community. These features highlight entrepreneurs, from all walks of life, who were able to create wealth by building businesses that solve problems for many people. Some are billionaires, others made millions by selling online, and a growing number are apart of The Backroom, our networking and masterminding group that is exclusive to owners of businesses that do at least $1 million in annual sales.
Amanda Royer’s story epitomizes the pursuit of freedom. After the birth of her second child, Royer began to reevaluate her life and came to the realization that her day job wasn’t giving her a sense of fulfillment. She started selling homemade bath bombs on Etsy as a hobby and ultimately was able to grow her online store so much that it allowed her to escape corporate America and become a full-time entrepreneur.
“I was doing everything myself for the first few years. Eventually, it got to be too much for just me,” said Amanda. “I still wanted to be a really small company. I was just going to have a few friends. Then it became too much for the few friends to handle, and suddenly I was hiring people I didn’t know who were friends of friends, and soon it was like, ‘Oh, we’ve run out of friends of friends of friends. Now where do we find people?’”
At the age of 26, Charles is already on track to do $40 million in sales this year. He started a business while he was still in college, eventually sold that business and used the proceeds to start Keeva Organics, an acne products company. Among other things, Charles attributes his success to developing a product that people would reorder several times throughout the year and implementing a “subscribe and save” mode that allows his customers to sign up to receive a regular shipment of his products once a month.
Daniel Gremspaw is another member of The Backroom mastermind group who runs a 7 figure earning business. He is the owner of 9 Grids, Inc., an advertising agency based in the Philippines. He also develops and sells various products online. Daniel cites video as one of his most powerful tools when coming up with and promoting his products.
His usual process: Coming up with a problem that he thinks exists in the marketplace, learning the demographics of people who might be suffering from that problem and ultimately coming up with a new product that might resolve that pain point. After which he produces videos to promote these products online to see if there is any interest.
Aspiring entrepreneurs are often warned not to venture into highly saturated industries due to how difficult it is to prosper in them. Sisters Gemma Pearce and Georgie Mayhew, however, were ready for a challenge and decided to start a yoga accessories brand. Despite the fierce competition, they have been rapidly growing from the start. In fact, within twelve months they have grossed more than $1 million. Instead of solely focusing on creating products that they thought would sell well, the sisters set out to build a lifestyle brand with followers who believed in the same things that they did.
When asked what has been the secret to their early sales success, Gemma told Capitalism.com, “We love our products, and we always strive to create things that we would use ourselves. Since we essentially represent our target audience, we tend to just make products that we like. It’s fun! Obviously we look at them numbers and viability of the product, but at the end of the day we trust our instincts, and focus on the brand as a whole.”
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