Part 4 - Business Case Study
31st May Update
31st May Update
It’s taken a very long time (not really but feels like) to reach our £10/day net profit goal.
Technically we will only reach it on the next reveal as the current completed week was £8/day, but we’ve already reached it this week so I’m happy to report we did get there eventually.
In reality this has been an interesting learning curve since day one. I think this is the fastest business I’ve built to get to £10/day especially if you include actual day 1 projects, rather than when inventory landed and things of that nature.
I’m pretty happy with the progress on a macro-scale, but on a micro-scale, there’s still so much we can do to be more effective and improve profitability.
Since week 1’s review on the 23rd of march, it’s taken about 2 months to reach this £10/day net profit mark.
What’s more is, it’s one of the first times I’ve seen a business model look easier as you get more involved than look more difficult.
Usually everything looks easier “from the outside in” - meaning, you hear a lot of people say “it’s so easy to run a coffee shop” or “it’s easy running a design agency”.
It’s very easy from the outside because you don’t know what you don’t know. It’s the unknown unknowns.
Whereas when you start a business, things usually go from optimistic to pessimistic really quickly as you realise the sheer amount of work needed to make something work and grow.
It’s a grind.
It’s just tough.
But on this KDP side, it feels like a lot of groundwork for all this was laid months and years ago with the amazon marketing research, capital to get started, understanding VA communication and hiring, freelancer mentalities and all these soft skills that no one sees from the outside.
But, in short, we’ve reached stage 1, now it’s time to push towards more profitability and scale.
The next few goals are based on performance and growth as per normal.
The next 2 key ones; £30/day net and £100/day net (the main primary goal of the series).
Part 5 will be released in a few weeks.