Just about a year after registering my business I can finally say that I am open for business! After countless hours of planning, learning, preparation and expenses I am finally able to launch my product to the world. This has been a long time coming and I feel as if the past year has flown by. It was just one year ago that I decided that I needed to take action to start my own company and to be my own boss. One of my favorite entrepreneur quotes is “If you don’t build your dreams. Someone else will hire you to help build theirs”. This quote has stuck with me and I hope that it inspires you all in the same way it has done for me. So now that my product is available to sell what’s next?
I will call this stage 2 and it is the make or break stage. Will my product sell? Will people like it? Will people use it? There are a lot of questions to ask but from what I’ve researched about this business is you just need to keep moving. There is no failure only feedback. I recorded my first sale without any marketing or paid advertising on August 29th. I will be officially launching my product in September so in my next post I can’t wait to share the results with you all.
So what were my expenses this month?
Website renewal, Hosting, email renewal – $120
Phone.com (Phone number renewal) – $143
GS1 Barcode Renewal – $50
71 Cartons of product shipped to amazon warehouses (UPS) – $1619
Freight Forwarder (End to end) – $830
Freight Forwarder Final Packing costs- $324
Promotional Video – $216
As you can see it has been an expensive month. I expect to spend around $2000 next month for the product launch also. At some point I will create a post on the total amount of expenses it has been end to end.
As I mentioned last month that I would end up calculating my total annual expenses for keeping my business up and running. That total comes to $2,085.25 with all of the renewals and fees.
This is just the reality of starting a business as there are a lot of upfront costs to get it off the ground.
See you all next month!