Starting Again
Discussion
Searched out this topic Dave to see if there were any updates. Glad things are going from strength to strengh.
We started up a bit earlier than you as you know, and I’m back in the office this morning after really needing a 2 week break to recharge.
1st year we turned over 250k, 2nd £550k, 3rd £1.3m and we’ve done £500k in the 1st quarter of this year with a target £2m. The diversification into different areas of the medical industry has certainly helped and our eggs are no longer in the same basket. 2 new members of staff in the last 12 months and finally feeling comfortable about the business as a whole as we become established in the market - and earning decent money with a nice Christmas dividend.
We’re certainly ruffling some feathers and worrying the UK arms of some large multinationals.
What have you got planned for 2020? I’m really excited and couldn’t wait to get back to it.
Drop me a message, lets have a coffee! It’s been a while!
PS you’re the only person I know earning £30k and driving a Bentley Bentayga :-)
We started up a bit earlier than you as you know, and I’m back in the office this morning after really needing a 2 week break to recharge.
1st year we turned over 250k, 2nd £550k, 3rd £1.3m and we’ve done £500k in the 1st quarter of this year with a target £2m. The diversification into different areas of the medical industry has certainly helped and our eggs are no longer in the same basket. 2 new members of staff in the last 12 months and finally feeling comfortable about the business as a whole as we become established in the market - and earning decent money with a nice Christmas dividend.
We’re certainly ruffling some feathers and worrying the UK arms of some large multinationals.
What have you got planned for 2020? I’m really excited and couldn’t wait to get back to it.
Drop me a message, lets have a coffee! It’s been a while!
PS you’re the only person I know earning £30k and driving a Bentley Bentayga :-)
Just recently read through this topic - fantastic writeup and valuable information! I'm currently diversifying business to look more at online, dropshipping and ways to generate some additional income given times are very hard in the transport industry which I supply parts for.
One thing that has got me well and truly baffled is csv files (I'm not computery minded lol). Any tips/advice you can pass to a fellow cash-strapped PHer? Lol.
And keep up the good work, fab it's paying off!
Thanks in advance
Dave
One thing that has got me well and truly baffled is csv files (I'm not computery minded lol). Any tips/advice you can pass to a fellow cash-strapped PHer? Lol.
And keep up the good work, fab it's paying off!
Thanks in advance
Dave
You will have a feed from your supplier, it won’t be exactly as eBay wants it but anyone handy with spreadsheets should be able to knock it into shape.
More info here https://developer.ebay.com/Devzone/merchant-produc...
Going forward look at linnworks or channel advisor etc to control stock over multiple selling channels.
I’ll email you
More info here https://developer.ebay.com/Devzone/merchant-produc...
Going forward look at linnworks or channel advisor etc to control stock over multiple selling channels.
I’ll email you
While I am here may as well do a quick update.
We have started working with an ex Shopify Plus team member who left to start his own e-commerce and has some spare time, target is one enterprise level build a month, this could be a game change as its on top of the work that "finds" us anyway.
We have an issue with back end dev but are hopeful a new project manager will be able to source that talent.
To be honest I am flapping a bit as we are picking up speed on the dev side far faster than ever anticipated, the advantage is we can turn work down but the flip is the management of the projects needs more PM`s of greater skill (= ££)
Marketing is serenely just picking up clients, the team and Director we have now are better than I ever had, and for SEO Paul is very very good but there is only one of him hence we are hiring.
We have just sent in our first 6 figure web proposal for a huge household name, we don't really expect to get it but we really did spend ages on that proposal, the feedback from it will be invaluable. With Shopify its a much cheaper build than Magento so it's rare to hit such high numbers but this includes a bespoke app to manage 2500+ sales agents commision hence the high cost.
If anything slows this project it will be cash flow, total bugger but we will have in place a triple-level support system from own funds to emergency fund to overdraft - I have calculated it will be very poor management if we need the latter (!)
We have started working with an ex Shopify Plus team member who left to start his own e-commerce and has some spare time, target is one enterprise level build a month, this could be a game change as its on top of the work that "finds" us anyway.
We have an issue with back end dev but are hopeful a new project manager will be able to source that talent.
To be honest I am flapping a bit as we are picking up speed on the dev side far faster than ever anticipated, the advantage is we can turn work down but the flip is the management of the projects needs more PM`s of greater skill (= ££)
Marketing is serenely just picking up clients, the team and Director we have now are better than I ever had, and for SEO Paul is very very good but there is only one of him hence we are hiring.
We have just sent in our first 6 figure web proposal for a huge household name, we don't really expect to get it but we really did spend ages on that proposal, the feedback from it will be invaluable. With Shopify its a much cheaper build than Magento so it's rare to hit such high numbers but this includes a bespoke app to manage 2500+ sales agents commision hence the high cost.
If anything slows this project it will be cash flow, total bugger but we will have in place a triple-level support system from own funds to emergency fund to overdraft - I have calculated it will be very poor management if we need the latter (!)
Great thread DS I read the last page understood nothing about your business the roles etc and half the lingo then went back to the start to get the jist of it through the updates. Nice to see the business grow with the updates and posting about the mistakes as well as the successes makes it a more interesting and balanced read.
I can relate to business mistakes and learning from it though I am in a completely different sector and type of market (as well as scale)
I can relate to business mistakes and learning from it though I am in a completely different sector and type of market (as well as scale)
Hi Dave, just chanced upon your thread. Really interesting read.
I hate to jump on the bandwagon, but I was just wondering if you ever used freelance copywriters at all?
I've worked at many of the big London agencies over the years and won a few awards here and there. But now looking to work more remotely and build up a roster of clients away from the big city scene.
Anyway, just thought I'd mention it. If I can help at all, just shout.
Luke
I hate to jump on the bandwagon, but I was just wondering if you ever used freelance copywriters at all?
I've worked at many of the big London agencies over the years and won a few awards here and there. But now looking to work more remotely and build up a roster of clients away from the big city scene.
Anyway, just thought I'd mention it. If I can help at all, just shout.
Luke
Hey Luke, we don’t offer it as a service but we do recommend writers who have a specialist field. No writer that’s affordable can cover pillows to organic baby food etc. Send me your info.
In the last update I said we had put our first 6 fig proposal into a huge family brand - well we only bloody won it!! I’m under NDA until completion so can’t say but I will when I can. We got to the final 2, both pitches on same day and we were informed it was unanimous 10 minutes after the other company pitched (!) we really put a detailed proposal in and did lots of process homework so no questions would catch us.
Game changer.
In the last update I said we had put our first 6 fig proposal into a huge family brand - well we only bloody won it!! I’m under NDA until completion so can’t say but I will when I can. We got to the final 2, both pitches on same day and we were informed it was unanimous 10 minutes after the other company pitched (!) we really put a detailed proposal in and did lots of process homework so no questions would catch us.
Game changer.
Edited by DSLiverpool on Saturday 1st February 14:15
DSLiverpool said:
Hey Luke, we don’t offer it as a service but we do recommend writers who have a specialist field. No writer that’s affordable can cover pillows to organic baby food etc. Send me your info.
In the last update I said we had put our first 6 fig proposal into a huge family brand - well we only bloody won it!! I’m under NDA until completion so can’t say but I will when I can. We got to the final 2, both pitches on same day and we were informed it was unanimous 10 minutes after the other company pitched (!) we really put a detailed proposal in and did lots of process homework so no questions would catch us.
Game changer.
well done, that is brilliantIn the last update I said we had put our first 6 fig proposal into a huge family brand - well we only bloody won it!! I’m under NDA until completion so can’t say but I will when I can. We got to the final 2, both pitches on same day and we were informed it was unanimous 10 minutes after the other company pitched (!) we really put a detailed proposal in and did lots of process homework so no questions would catch us.
Game changer.
Edited by DSLiverpool on Saturday 1st February 14:15
DSLiverpool said:
Only downside 60 day terms, we are strictly 50/35/15 on web builds but play in the big sandpit and you have to obey the rules.
Negotiable on a unanimous decision I would expect. They will have put a lot of work into the tender / selection and to think they might lose their much preferred supplier for the sake of finding a way to make a couple of payments a bit quicker than normal would disappoint them. Do talk with them about them helping "a small supplier" like you not being so well able to weather long payment terms as they are and to do their bit for helping small suppliers. You might get a result.It seems the bigger they are, the worse the payment terms. We’ve got a few FTSE100 clients now and they all owe us for months worth of work.
One is EOM-60-30. Meaning when you send an invoice they don’t even recognise it until the end of that month. Then they wait 60 days to put it into the “to pay” column, then they pay 30 days later. So 4 months for us as we bill on the 1st of the month. Not fun when you are doing £15k worth of monthly work for them and fronting another £10k in media spend. But it’s a case of take it or we’ll use another agency.
One is EOM-60-30. Meaning when you send an invoice they don’t even recognise it until the end of that month. Then they wait 60 days to put it into the “to pay” column, then they pay 30 days later. So 4 months for us as we bill on the 1st of the month. Not fun when you are doing £15k worth of monthly work for them and fronting another £10k in media spend. But it’s a case of take it or we’ll use another agency.
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