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omar faruk
Aug 03, 2022
In General Discussions
How much did you raise? A: We've raised about $15,000 and were trying to raise $5,000. Indeed, in the early days of the company, my cousins ​​and partners trusted the product far more than I did. I thought it was a great product, loved it and used it myself, but I didn't expect someone to pay $20 or $25 early on. If someone only pays $10 for it, it's not a functional business model. Even if someone only pays $15, it's not a functional business model. Crowdfunding was a big eye opener for me to have had more than just novelty items on Spencers shelves. Q: How long did it take you from the beginning to reach the 8-digit mark? A: We shipped our first product in January 2014. That first year whatsapp database created six numbers. In 2015, it was held seven times. I will be 8 years old this year. Q: I know you were talking at dinner about one of the ways that helped you get there. Want to talk a little bit about it? A: Yes, of course. You historically looked back at companies and concepts and crowdfunding was step one. About 1,000 units were sold in five or six countries. It didn't cost much to get started, but it paid for the product. Looking at 2014, as soon as I got over it, it became a reality: one, I didn't know what I was doing, and two, 1,000 sales were high. Booting sounds great, but not much. We're not basically building our business out of 300-400 customers. We've been tinkering with Facebook ads and AdWords and Twitter ads and all the normal things people are going to do for maybe 7-8 months. What I immediately understood was this product. Need to see it actually work.
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