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Hey all, my name is Allen. Been in the e-commerce game but could still use help

Discussion in 'Introductions' started by connor51, Aug 26, 2014.

  1. connor51

    connor51 Newbie

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    Hey everybody,

    Being a lurker here on and off for a while, i have learned a lot but could still use a little help/contacts. Currently I own a Pre-Owned Rolex Watch Company. I've been in the business of selling watches for over 7 years now. I started as an operations manager for a large e-commerce website and saw that they were making $30,000 to $40,000 in profit every month after cost of all goods and overhead. I made the mistake of quitting that job and starting my own venture and since i didn't have the proper marketing strategy I ended up with a beautiful website with 1 year of SEO but no revenue because of the lack of funding. Now i'm currently selling watches on ebay which is the lowest wholesale price point in the world and net profiting $1,000 per each sale. If only I had the proper backing and marketing for my website I could be making $2,000 per each sale but unfortunately I don't have the funding. Imagine if 1 watch was sold per day with 2k net profit. Already took a dip investing $70k on the website with the full magento crm system and SEO. Spent nearly 20k on worthless SEO sheesh :/. So now I'm basically here just trying to learn, share, take, give back and see what happens. I've been more of an Offline guy and currently have a construction company here in Los Angeles and I VIP Host in Hollywood some nights. Look forward to working with some of you guys
     
  2. DTZNL

    DTZNL Junior Member

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    Hm...watches. You've sparked my interest. Got an affiliate option with an interesting revenue % by any chance?
     
  3. connor51

    connor51 Newbie

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    Yes we do have an affiliate program where we pay a % if someone can refer us a sale. I went ahead and sent you a PM
     
  4. connor51

    connor51 Newbie

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    Ah shoot I actually can't post a PM because I don't have 15 posts but generally its 5% a sale. Each pre-owned watch sells at an average of $3,000-$5,000
     
  5. DTZNL

    DTZNL Junior Member

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    I'll send you a PM with contact details, no worries :)
     
  6. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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    Welcome to BHW

    So you spent $70k on Magento Enterprise/Premium so that you could sell watches on ebay? j/k

    I just don't understand how you could spend that sort of money without any strategy.

    You need to scale things a little better.

    Good Luck
     
  7. blackpackets

    blackpackets Jr. VIP Jr. VIP Premium Member

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    Huh.. why Ebay? Why don't you try some PPC traffic, Audience is much more likely to be pay the prices you want, then Ebay which is a price undercutters paradise.

    You got an affiliate program?
     
  8. connor51

    connor51 Newbie

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    Let me rephrase it a little better. I didn't spend $70K on magento enterprise. I spent about $40,000 on inventory which about $5,000 is left of it. Most of the inventory I liquidated thru ebay and than used the money back on marketing the site/office/living expenses/etc. Than I spent about 10k on the back-end/customized programming, a full CRM Ordering system which can manage a full salesforce - tracking orders - tracking sales with graphs - ease of sale thru merchants - controll access to the backend for salespeople or administrators. Updating prices with with 1 click by %, automated themes, christmas, banners, customizing the chat program with customers thru the site, customizing the search engine, special features to say what part of the watch has been serviced for example (red, yellow, and green). It's hard to explain without actually being logged into the back-end but a lot of people underestimate the value of the back-end of a full sophisticated site. The back-end itself is worth a lot more if it was sourced in the USA but it was outsourced with competitive pricing. With the back-end also comes the actual front-end. All in all that's what it cost me couple years ago. Than I had to pay another $25k for the SEO which was using Very difficult keywords such as "Rolex Watches" "Rolex Datejust" "Rolex President" "Mens Rolex" "Mens Rolex Datejust" and many more. <-- This was a mistake because the SEO company I used was obviously not a very good one even because after 1 year I was only ranked on the bottom first page of Google. The only way to actually get leads is to be the top 3 for Rolex on the first page of Google. If I was at the top 3, I would be selling 1 watch per day. 1 watch per day equals to about $2,000 average net profit. Lets be conservative and multiply that by 20 (not including weekends). Thats $60,000 a month.

    It was a big investment not to mention a big loss of $70k. So now I'm stuck with a 4 year old website that has 1 year of Good SEO but here I am now trying to figure out how to monetize it or ill probably look for a JV and run the full operations and give 50% of the profits. I've been in this business for over 7 years and if you could make at least 1k thru ebay which is the lowest wholesale price in the world than imagine what the potential is thru an e-commerce site
     
  9. connor51

    connor51 Newbie

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    Blackpackets,

    I do have an affiliate program, if you want you can message me with your skype or email and I can send you some info because I can't post due to my limit
     
  10. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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    OK, that makes a little more sense.

    Try to break your posts up a little as it is hard to read.

    Are you called Allen Connor or Connor Allen? you are confusing me lol

    Anyway good luck with the site and I hope you can recoup your losses
     
  11. connor51

    connor51 Newbie

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    I just go by Allen, thanks :)
     
  12. zubidoo

    zubidoo Regular Member

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    Look into web 2.0's, PBN's and linking high DA sites to your money site. Blast the DA sites and web 2.0's with gsa ser to pass link juice.
    Get on instagram and market the rolex lifestyle to impressionable kids with deep pockets
     
    • Thanks Thanks x 1
  13. connor51

    connor51 Newbie

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    I got the instagram part, need to go set that up. As far as the web 2.0's, PBN's, and linking high DA sites and blasting them with gsa ser to pass link juice. If you can elaborate on that or does anyone here provide that service. I'm more into the offline stuff, i'm assuming if I was more aware of the IM stuff, it would of been a successful venture. I should probably look for a JV who can take care of this stuff because when it comes to Sales, Operations, Shipping, Logistics, HR, I got it all down to a science. It's just the marketing, getting to page 1 on top 3 with good keywords and getting the proper funding for ppc and really just getting leads. That was the main problem why the business failed
     
  14. gary2

    gary2 Jr. VIP Jr. VIP Premium Member

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    i still feel u have spent a lot on your venture without any marketing plan :(
    you should not have done this... how can you dive without a marketing plan... hope you find luck here
     
  15. connor51

    connor51 Newbie

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    Unfortunately yes I had to learn the hard way at a really high price.
     
    Last edited: Aug 28, 2014