Posted on January 02 2018
As you probably noticed I have changed the name of the Blog to Jimmy's Blog. Going forward I will be personally posting here to keep you updated on news relating to Fired Up X Heated Apparel.
When I founded this company I had no idea how long it would take to get to the next level. The most important things for any new company to be successful are:
1. An exceptional product
2. Amazing Customer Service
3. Marketing/Social Media Presence
4. Stable finances to fund inventory, orders and day to day operations
I knew the product was great. Living in a cold environment meant that there would be demand, it was just a matter of how do I get the funding to fulfill orders. Getting orders was a non issue as my whole life that is all I have done in my past jobs. It was a matter of having hundreds of thousands of dollars to finance these orders. Yes a sad reality is that you need money to make money.
After about 5 years I was able to refine the products and was lucky enough to find an angel investor who believed in the product but most importantly; believed in me. That's when the Costco experience started. Our first major retailer. Meeting with them went great. The buyers loved the product and were willing to sell it online. We agreed to pay for some marketing dollars in The Costco Connection with a very aggressive 20% off promo.
Now it is a significant investment for the ad but from my experience dealing with Costco in the past in a previous job, the results are 10 fold for this type of promotion. My angel investor fronted the money for the inventory. Was I scared? Yes. What if the product didn't sell?
To be continued... ;)