The title of this post is from a conversation this week at a Reddit Denver Business Owners meetup/meeting. When I first heard it, I nodded my head in agreement, but today when I was speaking with my accountant about my failed business, Survival Gift Shop, she said, “Did you make any money from it?” The sad answer to that was no.
I’m not terribly proud of this fact, especially since I sunk $700 in product, fees (PayPal and Shopify), and advertising, not even counting my time (because really, what startup actually places a price on their time in the beginning). Results? Not a single person clicked BUY over the 6 month period where it was heavily marketed and even got some organic search traffic. At the very end, I even tried unloading them at cost on ebay and still no takers over two 7 day auctions. Now I grant you, a wise woman who loved the idea and built a Lady’s Personal Survival Kit of her own once exclaimed that it was more of an impulse buy, so the method of delivery was possibly wrong (not the idea), but I didn’t have the capital or the faith to try it again.
Continue reading Until You Ask For Money, You Don’t Know How Serious They Are