Starting in 2017, I began publicly sharing goals related to building my Amazon FBA business as well as growing The Bootstrap Boutique. I set quarterly goals and do a check in on YouTube every two weeks to keep you updated on my progress and to hold myself accountable to working consistently towards meeting these goals.
For the first quarter of 2017, I set the following goals for myself:
- Sell all 500 units of my Private Label Product
- Launch a second Private Label Product
- Gain 5,000 Twitter Followers
- Send out 1,000 Tweets
- Earn 200 YouTube Subscribers
- Post 20 YouTube Videos
- Review 3 books on YouTube
- Appear on 3 Podcasts or YouTube Channels
So how did I do? Let’s check in!
Sell all 250 units of my Private Label Product
0 / 250
So you guys know that I’ve got my first product live on Amazon, I am super excited. It just went live yesterday, or maybe the night before, but anyway. I haven’t sold anything yet, which is fine. I’m running PPC so just waiting for that to kind of kick in and find me some good keywords to focus in on.
But do you notice anything different about this chart that I’m showing on the screen right now? Give you a second. Ok, look at that top number. 250. What did that say last time we checked in? 500. I got my shipment in and it’s 250 units, not 500 units. And at first I was like, “uhh, what happened?” So I went back and looked at my purchase order and nope, Megan you ordered 250 units. Not 500 units.
And on one hand that’s ok, You know it’s ok, its less to sell and I’m glad I don’t have 50 boxes in my house because they are kind of sizeable. The problem is that my product cost is double what I thought it was. So it is going to be almost impossible for me to make a profit because my product cost is actually right under $13, actually $12.92 and I thought it was going to be more like $6.50 so I have almost no margin. I don’t know what I’m going to do. I’m probably taking a hit on profitability on this first product.
So, I am very upset with myself. I don’t want to talk about it anymore. Maybe another time.
Launch a second Private Label Product
Let’s move on to the second product, I’m still in the research phase, still using Jungle Scout.
What I’ve actually done is I took a sheet of paper, I’ve got it around here somewhere, but I said I’m not even going to start pricing and sourcing until I can fill up this whole sheet of paper with good ideas and so I have been spending lots of time in the bowels of the Amazon search engine trying to uncover some good opportunities.
I do have 2 or 3 things I’m pretty excited about but I’m really just, I think the problem might be with this first product is that I didn’t go deep enough, so I’m trying to go super deep this time and just make sure I’m on more solid footing with what I am trying to source.
So, I’m still working, I’m working really hard on this one actually. Like my two main focuses right now are optimizing the listing for product one and really digging deep on product 2. That’s where I am right now.
Gain 5,000 Twitter Followers
4522 / 5000
Moving over to twitter, I am so close to my goal of 5,000 twitter followers as of today I am at 4,522 people following the @MegLoftin handle which is just incredible.
I really enjoy Twitter, I hadn’t really been on it before, I’ve had this handle for a long time but I just kind of grabbed it a while back so I could get my name, but I hadn’t ever really used it until the last 8 or 9 months or so.
But I really enjoy twitter, I enjoy checking in on it and interacting with people so if you are on twitter make sure that you are following me @MegLoftin come say hi.
Let’s be uhhh, twitter friends, I don’t know what that’s called.
Send out 1,000 Tweets (GOAL MET)
1061 / 1000
Ok the second goal related to twitter at least is to have over 1,000 tweets on my @megloftin handle, I have surpassed that now as of this morning I was at 1,061 and you know that just continues to keep happening because like I said, I enjoy Twitter.
I enjoy interacting, I enjoy being there , so I have definitely already hit that goal with really just a month in, 6 weeks in maybe to this quarter so that number is just going to continue to grow because I like tweeting.
Earn 200 YouTube Subscribers (GOAL MET)
288 / 200
Wow, you guys. YouTube subscribers, we are up to 288 on this channel.
So that is amazing, thank you, and you know I’ve been adding about 20 a week or so and I just hope that continues I think I’ve got some really good videos coming up that I hope appeal to people and make them want to hit that subscribe button so we can continue to grow and learn from each other and help each other.
So again, if you think these videos are worth watching, maybe you think they are worth sharing too and you can tell your friends that are interested in Amazon about it and we can just kind of all grow together. Let’s do it.
Post 20 YouTube Videos
15 / 20
The next YouTube goal was to have 20 videos at The Bootstrap Boutique channel, I’m up to 64 videos now from 49 so well on the way to hitting, I’ll actually hit 20 here pretty soon.
Probably by the next goal update or the one after that. So I’m not worried about hitting this goal, I’m definitely going to exceed it, doing the 2 videos a week plus the one every other Friday definitely puts me in the ball park to hit 20 in the first quarter so that’s awesome!
Review 3 books on YouTube
2 / 3
The next goal was to review 3 books at The Bootstrap Boutique channel in the first quarter so you guys know I did Eat That Frog!
I also did 5 book reviews in 1 video but they were only 1 sentence each. So it’s really what is the essence of this book. And I just did classic books that everybody that is interested in running a business should absolutely read, there’s no doubt about that for any of these books. Got some good feedback on it, people seemed to enjoy it.
I don’t know that I’ll do it again because I’m just trying to fill out one more space which I already have the book ready to go, I’m really excited to share it with you for my last one for this goal, but as things come up in the future, especially if I can kind of find a theme, like this one I was calling the “classic business books” so maybe we’ll do a productivity one or something like that. I don’t know. Stay tuned.
Appear on 3 Podcasts or YouTube Channels
1 / 3
And then the last goal that I have was the 3 appearances and/or collaborations on podcasts on YouTube channels, on whatever and I still only have in the books Be Moving Forward with John Lim that is coming out March 7th.
I’m super excited about that. I do have a meeting on the books this afternoon to talk with another creator about doing some collaboration stuff so I’m super excited about that.
Of course I will keep you guys posted. And then we would just be looking for one more opportunity.
If you know somebody that you think I would be a good fit for and mesh well with and you want to see me pop up on their podcast, on their youtube channel, on their blog, whatever, just let me know. I am open.
That’s going to wrap it up for this 2 week period. As you can see, there’s a lot of work to do still on the Amazon stuff, the YouTube, the Twitter, we’re making progress there. But let me tell you, my focus is really going to be on marketing that product. I’ve got some fun ideas and things I’m trying out to drive traffic to my Amazon listing. So more to come there, I will be sharing it all along the way, of course. And I will talk to you next time. Take care!
You can watch this video on The Bootstrap Boutique’s YouTube Channel here.
You can see all The Bootstrap Boutique’s YouTube videos here.