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Sam (crazy candle person) ✦
@samantha
My friend this weekend gave me good (but controversial) advice. He bootstrapped his profitable CNC machine business to about $10m in ARR without any family support or venture funding in around 7 years. He told me that people don't realize that they are in control of the outcome of their work because external factors get in the way of our deciison making. The specific example we talked about was getting /humankind to $1m in ARR. I think one thing I'm grateful for is having had worked both in B2B SAAS and a bit of consumer. So it's easy for me to create the sales funnel and do the math on how many conversions/retention I need to get to $1m in ARR - it's only about 10,000 candles yearly or less than 1000 candles a month since my AOV is around $100. My retention rate is around 20%, so that's about 50,000 candles (around $5m ARR) I have to sell to maintain a $1m ARR. And surprisingly these are not huge numbers. /continued
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Sam (crazy candle person) ✦
@samantha
But I just keep making these excuses as to why I can't do it - I'm scared of outbound sales, I have my day job, I don't know what channel to go to try out next etc. These are all excuses because I know the knowledge can be acquired. The crazy thing is that I know how to get there I'm just scared. Like I have the map written out in my head. The ooey-wooey in me and the spirituality in me tells me I can't be attached to outcomes and just to try my best. The business skinsuit in my tells me it's just work I have to put in. It's probably a bit of a balance of not being too attached to the outcome and having the discipline to persistently put in the work to get there. Just thought that kind of clarity was surprising.
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Marcela
@laursa.eth
i know how you feel
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Adam
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You need to hire someone who can do your sales and marketing. I hired a whole team to do all of that for me so I can concentrate in other areas. $23k for a patent and 5 years of marketing and advertising. Plus they also send my product out to all the top manufactures in the country for me to get contacts. Trade shows, they are creating me a web2 domain for advertising, I will tie this to my web3 domain. Bring my IRL products onchain. But an experienced sales and marketing person can really make a huge difference to help you expand and gain more business.
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