Тёмный

How To Lose Money Selling Products 

Vanader
Подписаться 217 тыс.
Просмотров 58 тыс.
50% 1

Get My Product Pricing Guide:
www.vanader.com/profits
Chapters:
0:00 - Introduction to Maker Magic Costs and Profits
1:30 - The Realities of Shipping Costs
3:00 - Tackling the Challenges of Reducing Costs
4:30 - Understanding and Improving Average Order Value (AOV)
6:00 - Creative Strategies for Enhancing Product Value
7:30 - Efficient Packing and Shipping Process
9:00 - Conclusion: Maximizing Profits and Future Strategies
Hi! My name is Evan, I'm a business owner and entrepreneur that loves to help previous versions of myself. I started an ecom accelerator that has helped thousands of people start their businesses. To learn more about me and what I can do to help you, check out vanader.com or click the link below!
www.vanader.com/bio
Podcast:
vanader.libsyn.com
Instagram:
/ vanadergrowth
TikTok:
/ vanader
Twitter:
intent/user?scree...
LinkedIn:
/ evan-van-auken
Hi! my name is Evan and I'm super stoked you want to learn more about me!
I show people how to build their businesses. I learn a skill, test it with my own companies and share it!
I got my start by selling CDs at 13 years old. I’ve worked as a fry cook, I’ve mowed lawns, built go-peds, managed restaurants, sold mortgages, worked in Hollywood, and sat at a desk. I’ve cold-called, done graphic design, pounded pavement, traded crypto, and worked on an ambulance.
I finally settled down and devoted my life to becoming a firefighter in my early 20’s. It took me 5 years of training, fire academies, and paramedic school to finally land that job.
I spent 8 years of my life answering 911 calls. Now I get to pursue my real passion, which is building businesses and educating.
My first successful company is called Scorch Marker.
I was building a commemorative plaque for the fire department in my woodshop and desperately wanted to burn our motto “together in, together out” into the wood. So I pulled out my wood-burning tool, plugged it into the wall, and screwed the whole thing up!
But my wife and I had found another way. We created a chemical solution that reacts with heat. We were inspired by RU-vid creators! You apply the liquid to wood, apply heat, and the wood burns only where you drew! Pretty cool right? We invented the world’s first wood-burning marker - Scorch Marker.
Little did we know that this was the beginning of something big. We agreed to spend $500 of our savings to see if we could turn the idea into a product. 2 years later and we got into retail, became a bestseller on Amazon, created jobs, and made a lot of mistakes.
It’s the mistakes that are important. Those are the valuable, teachable moments that doers get to enjoy and learn from. They make you stronger.
Building, maintaining, scaling, running, or managing a business is not easy. But it can be done!
That's why I'm here. To teach what I've learned so you don't have to make the same mistakes that I did!
One of the things I feel I was put on this planet for is teaching. I absolutely love connecting with other humans who want to do what I've done, build a DTC company.
That's why I built my personal brand Vanader. I test the things I'm learning with Scorch Marker, make the mistakes, lose the money, succeed then I teach it.
It keeps me sharp, keeps me progressing and most importantly it help me make friends in the space.
Can't wait to hear from you!
Evan
Vanader.com
www.vanader.com/bio

Опубликовано:

 

1 июн 2024

Поделиться:

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист
Посмотреть позже
Комментарии : 153   
@1conu593
@1conu593 4 месяца назад
I’m an e-commerce business runner myself and I have to say between the thousand of contents from this so called business magician everywhere you’re the only one that actually know what he’s talking about ! Good job 👍
@Vanader
@Vanader 4 месяца назад
thank you for watching my friend
@shazzz_land
@shazzz_land 4 месяца назад
the only working ecommerce at the moment are gaming and youtube ing
@nicopicco
@nicopicco 4 месяца назад
$10 is to acquire a new customer. Return customers cost you nothing, just a small retention cost. Lucky for you, this product is a consumable.
@kurtzxcvb3481
@kurtzxcvb3481 4 месяца назад
This is why websites incentivize free shipping at a certain price point so that it pushes you to buy more than one item so you can get the free shipping
@alvesco96
@alvesco96 5 месяцев назад
I don't even do e-Commerce or anything like that but your explanations are very clear and the whole topic is really interesting! Thanks for making this, I sure will check out your other videos!
@lindsayjordan3386
@lindsayjordan3386 4 месяца назад
Your video popped up in my feed and I thought ‘man, this product sounds familiar’ and I remembered that you and your wife came to my painting class at Pinot’s Palette months ago! So glad your business is doing well and I dig your content!
@JuniusJones
@JuniusJones 4 месяца назад
This is a really good way to make business marketing concepts relatable
@TheSandyMerchant
@TheSandyMerchant 5 месяцев назад
Amazing video! Very helpful and straightforward. Thank you!
@user-uo4xp6yk9n
@user-uo4xp6yk9n 4 месяца назад
I'd just like to say thank you for all you share in the world of e-commerce!!!!! it's so much fluff & disgust on RU-vid University. I appreciate your clear and useful videos
@josephworwa8193
@josephworwa8193 4 месяца назад
Great video! I need to look at my pricing and packages again.
@georgehyker
@georgehyker Месяц назад
Great video and content. Your presentation and authority are welcome! One of the clearest and concise videos I've watched.
@gulawellness
@gulawellness 4 месяца назад
Thank you for sharing this information. I am a new business order, and I've been finding this out the hard way. You don't know what you don't know.
@rezzyredskin
@rezzyredskin 4 месяца назад
Thank you for your help i recently opened my first shopify store last month and these video's have been very helpful with getting ahead of the learning curve
@neilmunro5360
@neilmunro5360 3 месяца назад
Great video. Practical examples and real world experience. Good job!
@dwightk.schruteiii8454
@dwightk.schruteiii8454 4 месяца назад
I’m just blown away dude, thank you.
@keithn4304
@keithn4304 2 месяца назад
Great video. This explains why lots of e-commerce offers free shipping for orders over $50
@Blancaamezcua103
@Blancaamezcua103 4 месяца назад
This is how Frank V. From Melaleuca started. I did everything you are doing right now at a little over minimum wage. Bro, this is easy peasy.
@tinkerbel8800
@tinkerbel8800 5 месяцев назад
I am going to order some on amazon. really great video!
@aleksandars9254
@aleksandars9254 5 месяцев назад
Im glad yt is pushing your content. Got a new sub.
@fahey5719
@fahey5719 4 месяца назад
Thanks for your excellent advice.
@wlbrobinson
@wlbrobinson 4 месяца назад
This is excellent advice for a small business, my small pizza chain had free delivery and we had a very high percentage of high profit, low cost adds , very subtle sales techniques were used by all the order takers, not unusual to add 30% to the order that had very little additional costs, bread sticks and an extra topping special for example. Give back a percentage in weekly profit sharing from selling those specials directly to the workers and you could guarantee everyone was onboard. So a $2000 night would be $2600 using your average sale technique.
@4Fecta
@4Fecta 4 месяца назад
Great video. Thanks.
@Sosnapping
@Sosnapping 4 месяца назад
But with three, wouldn't it make more sense to give one normal pack and two refill packs? That would take up less space and use less plastic... is that worth thinking about?
@RoseKindred
@RoseKindred 3 месяца назад
I was confused at a bunch of this at first, then I realised it was the same things I did when I was able to work retail. Different words, and I know this is a brief overview because there are other things you can do, but still interesting.
@kurtzxcvb3481
@kurtzxcvb3481 4 месяца назад
Have you tried calculating other shipping services like Pirate Bay or others like that
@DistractedDaisy
@DistractedDaisy 5 месяцев назад
Wow, most valuable information yet this year. Now I just have to find my product or product line. Happy New Year 🎈
@Vanader
@Vanader 5 месяцев назад
thanks for watching. when you are ready i can help you
@robertmorgan5467
@robertmorgan5467 4 месяца назад
Great job
@carolinmancini
@carolinmancini 3 месяца назад
Excellent!
@rgg7260
@rgg7260 23 дня назад
excellent, good tough sales method and advise from the school of hard knocks...thanks for sharing. acquiring and retaining clients is so difficult these days...when i buy online vitamins ie i like to buy several items from same seller so he could save on shipping/ handling fees...i wasn't aware of your formula though how profits are realized that way...
@chadrichardson4905
@chadrichardson4905 5 месяцев назад
Dude you’re a Wizard!! 🙌🏼🥰 I just came across your content and love it!! Thanks for sharing your wisdom!! 🙏🏼🥰 Keep up the great work!! ✨ Cheers!!
@Vanader
@Vanader 5 месяцев назад
Thanks for watching Chad!
@HuskerTexan
@HuskerTexan 4 месяца назад
Well done video
@rudeboy1127
@rudeboy1127 4 месяца назад
Wow… i never knew this… thanks for the wealth of information,
@bobeman6531
@bobeman6531 4 месяца назад
bravo. Everything you said is true
@veritas4us
@veritas4us 5 месяцев назад
One of the best explained videos on YT. Thank you so much
@slickrick1856
@slickrick1856 2 месяца назад
Good stuff
@AclypseOfReason
@AclypseOfReason 2 месяца назад
We have run into the same problem and FB is the culprit. FB costs are now disproportionate to their value. Of course that’s the hard part. Finding a better marketing engine than FB as it s no longer the value choice.
@Vanader
@Vanader 2 месяца назад
i would agree with this
@airborne_fpv1983
@airborne_fpv1983 4 месяца назад
Thank you
@katiefinnegan4649
@katiefinnegan4649 2 месяца назад
I do love a good bundle
@FatOlli
@FatOlli Месяц назад
I think I could probably get your CAC down but I'd have to see your current ad set and ad strategy, its possible its just a tough product to sell if the target is too broad.
@rolandamarantoii170
@rolandamarantoii170 3 месяца назад
Subscribed!
@LIVE781REDRUM
@LIVE781REDRUM 5 месяцев назад
Probably the best explanation video I have ever seen on ROI. Well Done Sir I have seen many videos
@amitbali8938
@amitbali8938 4 месяца назад
man this video made me to subscribe.
@catsrule9841
@catsrule9841 3 месяца назад
Lower the weight with packaging to under a pound for first class shipping,slightly cheaper, make that for the people who want a small amount, then sell in gallon size with all the bells and whistles for people who use it a lot. And do the triple for 50 like you’ve been doing,good problem to have,as long as people keep buying it.
@SteveCole73
@SteveCole73 5 месяцев назад
The $10 for generating leads off Facebook is only for new customers right? Do your customers go through Facebook every time they want to buy something from you? It seems once you have a customer, they should not have to go to facebook to purchase your products. Am I missing something in the description??
@StephenSatire
@StephenSatire 4 месяца назад
Yeah your CAC is how much your spent on advertising or paying someone to post on Facebook and instagram or whatever divided by how many new customers you get. Once those customers are established and buying again, you start segmenting them by their lifetime value or CLV. They still might utilize an ad to buy, but that’s factored into the CLV
@SteveCole73
@SteveCole73 4 месяца назад
@@StephenSatire thanks for the explanation!
@jmackinjersey1
@jmackinjersey1 5 месяцев назад
I'm confused as to why you are paying for shipping. People understand that it takes another party to move the product. Heck, I pay shipping on a lot of small items or low priced orders. It's art of doing business.
@fahey5719
@fahey5719 4 месяца назад
Customer *always* ends up paying shipping, either separate or included in the price. For some twisted psychological reason, MANY (most?) _love_ so called free shipping. So you have to "comply". Same thing with so called "no interest" credit payments.
@barongerhardt
@barongerhardt 3 месяца назад
@@fahey5719 There are a few reasons. Shipping handling costs don't scale linearly with order size. By pricing it in you are taking a higher profit on larger orders and subsidizing the smaller ones. That can reduce the friction on a new sale going to completion. The second and more psychological is that a big add on at the end of the shopping experience is a big of abandonment. Another way he could have structured the sale is $15 per container and a fixed $5 s&s. One would be $20 and the three is still $50. Marketing at $15 might get more leads but that $5 hit at the end, a third more in cost will also make many reconsider the deal. Even more so if it is unexpected. People don't like surprise increases in costs. See how much people hate sales tax and tipping being added to the bill. All credit programs help make the sale today, rather when the customer has the money. The "no interest" part get them to pay a higher margin and gets people to ignore the hidden high interest rate and/or fees if they fail to follow the terms. Lots of money is made on people screwing up "free" deals.
@mistermaykul
@mistermaykul 4 месяца назад
Subscribed.
@RadoHudran
@RadoHudran 4 месяца назад
Today I learned something
@GundamExia88
@GundamExia88 3 месяца назад
Do you need to pay tax too on stuffs you sold?
@AntediluvianBrew
@AntediluvianBrew 4 месяца назад
Perfect
@freespacejunkremoval
@freespacejunkremoval 4 месяца назад
what if you try to use inventright youtube channel / schooling to learn licensing & go for a royalty of 2.5% - 8% deal & start 12.5 for negotiations & let a mega company blow those out way faster & cheaper vs venturing...
@Sosnapping
@Sosnapping 4 месяца назад
He makes a video but works on the side, which is efficient and likeable
@Vanader
@Vanader 4 месяца назад
thank you for watching friend
@franknorth164
@franknorth164 3 месяца назад
Not sure how this video ended up in my feed. But, if I really enjoyed it lol..
@laurencewainwright
@laurencewainwright 4 месяца назад
What is picking and packing and who are you paying to do that?
@Vanader
@Vanader 4 месяца назад
3pl or a warehouse that ships for us
@roofster
@roofster 4 месяца назад
I like you. If your goal is to make friends then you are winning my friend 😊
@fauxspox2383
@fauxspox2383 4 месяца назад
Congratulations, you figured out what Costco has been doing for years, now you just have to sell a membership
@thranax
@thranax 2 месяца назад
Can someone type what he called that wooden spoon at 6:49 I never heard it before, it sounds french. Its bugging me since I can't type it close enough to have Google correct me. Not that I have a thing for knowing the correct way to say that exact wooden spoon but learning it wouldn't hurt.
@easyas314
@easyas314 2 месяца назад
Accoutrement. He's saying it with a bit of a French flair. It means accessory.
@thranax
@thranax 2 месяца назад
@@easyas314 Thank you, i would have never gotten close.
@Skillz_Required
@Skillz_Required 5 месяцев назад
Great Info Thank You 👍❤
@Vanader
@Vanader 5 месяцев назад
You are so welcome thank you for watching
@jascollinscork
@jascollinscork 4 месяца назад
What is the product?
@gonzaloamadorottier2065
@gonzaloamadorottier2065 2 месяца назад
Isn´t shipping paid by the customer?
@JasonMitchellofcompsci
@JasonMitchellofcompsci 4 месяца назад
You should actually lower your price a little bit more on the larger order and definitely raise your price on the single order from where it is. Think about how much more attractive the larger order will be if the small one is 22 or 25. You should actually make less profit per volume on larger orders than small orders by a tiny bit, not more. If that isn't happening then you are pricing your smaller order wrong. Unless correctly you view your small orders as a marketing cost to get people to take larger orders. So then you should calculate the marketing value per small bottle that goes out, and make sure that total with actual profit is higher or on par per unit than your large orders. I wonder how an even smaller product would perform on that metric. Your average cost of customer acquisition would actually be less because of the higher conversion and your adjusted profit would be about the same. It better be positive or why sell it?
@sauce6625
@sauce6625 4 месяца назад
Ads cost $10? Mean for 1 product or every single pcs sir?
@barongerhardt
@barongerhardt 3 месяца назад
That is his customer or sale acquisition cost. To put some simple but realistic numbers to it, you might pay $100 to have your ad shown to ten thousand people ($10 CPM [cost per thousand]). From there you expect about 1% (100 people, $1/click) will go to your online store and of those 10% (10 people, $10/conversion) will purchase. Knowing all those different numbers helps you evaluate different aspects of an advertising campaign, websites, sales platforms, checkout systems, and more.
@paulschena8493
@paulschena8493 5 месяцев назад
Dude, I can supply you with the containers and induction caps.
@RichardBellII
@RichardBellII 4 месяца назад
Do you have insurance?
@turningpetrolheads
@turningpetrolheads 4 месяца назад
Good video, thanks! But is no one here apart from me wondering since when 25 - 8 comes to 18? 🤔😅
@johnmaxwell1356
@johnmaxwell1356 Месяц назад
That is the real reason he is losing money!!! lol
@garryb.1334
@garryb.1334 5 месяцев назад
24.99 a piece, buy two get one free until you can tighten the other parameters?
@Vanader
@Vanader 5 месяцев назад
that is an excellent suggestion! one i have seen work in many businesses
@garryb.1334
@garryb.1334 4 месяца назад
Maybe then it will put you in the green at least for single orders. Maybe it will potentially have more viewer appeal effectively lowering your cost to acquire a new customer. Whenever you want to take an L on single units in hopes of spreading rand awareness you could just run a sale on your singles for your 19.99 price point.
@jefffather4663
@jefffather4663 4 месяца назад
adding accessories - VALUE ADDED...
@sledninja
@sledninja 15 дней назад
It's kind of like synergy
@BradMillsXRP
@BradMillsXRP 4 месяца назад
Repeat sales should have a zero customer acquisition cost. therefore adding $10 to your gains
@nneisler
@nneisler 3 месяца назад
Fixed costs vs Variable costs
@FormerMPSGT
@FormerMPSGT 4 месяца назад
YOU SAID IT: HOLY COW! IN MY BEST 19TH CENTURY BRITISH SOLDIERS ACCENT: ONLY IN INJA! (India).
@ericnakahara4170
@ericnakahara4170 4 месяца назад
If my school teachers had taught like how you are, I'd be a lot richer! ADHD sucks!
@scotthughes7440
@scotthughes7440 2 месяца назад
raise the price - hire oompa loompas - do affilliate marketing and have people sell your product for you
@ciprianionut8629
@ciprianionut8629 Месяц назад
What ads 10$ cost mean? Do you pay 10$ for each 1 bottle selling?!
@PaintballVideosNet
@PaintballVideosNet 4 месяца назад
Sell french fries. Boom, problem solved.
@disamcontractors5636
@disamcontractors5636 4 месяца назад
Now is why Google and Meta is so rich
@willvader6972
@willvader6972 4 месяца назад
Simple solution, change your marketing. If you pay $10 per customer and they spend only $20 a unit you either need repeat customers or to lower your advertising cost. Do other forms of advertising simple.
@fahey5719
@fahey5719 4 месяца назад
You have any suggestions? Please post it.
@willvader6972
@willvader6972 4 месяца назад
@@fahey5719 It would depend on the business, but you can implement incentives for word of mouth spread, offer affiliate bonuses, or use different mediums of advertisement, such as tv, newspaper, or youtube.
@vtecmissle
@vtecmissle 2 месяца назад
put it in a square container and save on space
@XX-fq8kp
@XX-fq8kp 4 месяца назад
SO, Someone packed all those containers in a box, that you are unpacking, hmmm.. 😮
@fahey5719
@fahey5719 4 месяца назад
He already explained that he was selling much more than what he could produce in his garage (good for him), so he was subcontracting some. It all depends on scale.
@michaelshearer3559
@michaelshearer3559 4 месяца назад
Dave off the top rope! That bit on Kamala was incredible.
@johnroberts4823
@johnroberts4823 2 месяца назад
In a single, Drop the contents down one ounce and selling it for $18.98
@natalierenee8311
@natalierenee8311 5 месяцев назад
Only one making money is ad company
@Sb69minis
@Sb69minis 18 дней назад
Great video and I admire your enthusiasm and entrepreneurship, but $20 for glue..I’ll pass thanks
@ytaca307
@ytaca307 3 месяца назад
Hi i live in yemen i want make my products i want success.
@wichitafallssam
@wichitafallssam 5 месяцев назад
Margin help
@mrwonk
@mrwonk 3 месяца назад
That's some creative math. $25-$8=$18? You mean $17... :)
@peeegeee8397
@peeegeee8397 4 месяца назад
Hi I know how to lower your cost on advertisement hire me based on performance
@AhsokaTanoTheWhite
@AhsokaTanoTheWhite 4 месяца назад
So it costs $10 in advertising per product? I dont believe you. But I'm not in business...
@mk-wz2sh
@mk-wz2sh 4 месяца назад
each piece sold cost $10 for advertising? This is very expensive advertising
@user-xp8rj8di4n
@user-xp8rj8di4n 4 месяца назад
Too much words. Cost of 3 becimes cost of 1. People will get confused.
@gmomj9633
@gmomj9633 3 месяца назад
Champion🎉 can u please help me in mine?
@regibson23
@regibson23 3 месяца назад
25 - 8 = 17 not 18
@slimsx34
@slimsx34 5 месяцев назад
So you lose money on the product but make it selling the calculator. Got it
@locosmuevenmundo
@locosmuevenmundo 4 месяца назад
You miss complete the point of the video
@andyg5050
@andyg5050 4 месяца назад
25-8=18? I hope his other calculator works better 😂
@tyrone6987
@tyrone6987 4 месяца назад
Eager to comment but not eager to watch till the end. It's 2024
@good2go4
@good2go4 4 месяца назад
​@locosmuevenmundo yeah, man, some people just never understand
@chistianzarza593
@chistianzarza593 4 месяца назад
Tell me you didn't watch the video without telling me you didn't watch the video
@nickbryantfyi
@nickbryantfyi 2 месяца назад
Meanwhile amazon is banking
@martinsriggs2441
@martinsriggs2441 3 месяца назад
Thank you for sharing this amazing and cool video!! Very engaging from start to finish. Nevertheless, the best investment strategy is to engage in an investment that gives you time to pursue your other projects, which we can call an advanced investment. I am currently involved in one where I earn 4 figures every 7 days.
@martinsriggs2441
@martinsriggs2441 3 месяца назад
When you are ignorant, you cannot change your financial situation. While the wise accumulate wealth through high yielding investments, the unwary remain poor because they always have an excuse not to invest. I have achieved high returns on my investment and a steady stream of income working with an investment advisor (Larry Kent Burton).
@sarahrafeal6412
@sarahrafeal6412 3 месяца назад
I'm surprised to see Larry's name here. I was able to create a source of passive income by allowing him to manage my investments as well as financial planning. In my experience, working with an investment advisor is much more resourceful than relying on investing RU-vid videos or reading investing books.
@martinsriggs2441
@martinsriggs2441 3 месяца назад
He's on Instagram ***
@martinsriggs2441
@martinsriggs2441 3 месяца назад
@ Larry Kent Nick Trading ***
@playframe6231
@playframe6231 4 месяца назад
This is why paid advertisement is dumb. Use the money you spend on ads to make a product that advertises itself.
@fahey5719
@fahey5719 4 месяца назад
No such a thing. Hey, Coca Cola spends hundreds of millions in publicity. Maybe they know something.
@lumpython5351
@lumpython5351 4 месяца назад
That's why people choose made in China
@fahey5719
@fahey5719 4 месяца назад
Sure, they pay _cents_ for shipping. Way less than any American. Thank Bill Clinton for that. Not kidding, China was declared a "third world struggling Country' and pays cents for shipping. Us Post _loses_ 4-5$ per package.
@mikeb7929
@mikeb7929 2 месяца назад
your mixing glue in your garage. and renaming it ?
@ammarooooo6729
@ammarooooo6729 4 месяца назад
how want 3 pic es of glou?😂
@steveng216
@steveng216 2 месяца назад
Seems like the move would be to make a minimum order 2 for $30. That's a $7 profit if shipping is calculated at a $6 cost.
@AB-these-handles-are-stupid
@AB-these-handles-are-stupid 5 месяцев назад
Your ads are ridiculously expensive.
@vincentpelletier1246
@vincentpelletier1246 2 месяца назад
So, I'm a bit lost since in some of this guy's video, he talks about a 700$ setup that makes 1 million a year in revenues. One video later and the same guy breaks down how little he makes. There are numbers that dont click and thats peculiarly annoying 🤔
Далее
The Truth about Hobby CNC Businesses
13:08
Просмотров 822 тыс.
Meet The Billionaire that Works a Normal Job
11:40
Dancing makes everything better 🕺🏼
00:16
Просмотров 2,3 млн
HELLUVA BOSS - THE FULL MOON  // S2: Episode 8
23:10
KO’P GAP ESHAKKA YUK!😂
00:57
Просмотров 948 тыс.
I Tried Starting A Laser Engraving Business In 7 Days
8:01
Make $40,202 Per Month Selling Mugs With A.I.
19:09
Просмотров 275 тыс.
How My Desktop CNC Made Over $500,000 in 2 Years
11:34
How To Price Your Products To Avoid Losing Money
11:37
How To Manage Your Money Like The 1%
12:45
Просмотров 477 тыс.
I Built a $1M AI App [No Code]
16:14
Просмотров 482 тыс.
Dancing makes everything better 🕺🏼
00:16
Просмотров 2,3 млн