Background & Bio: Greg Connolly is a veteran entrepreneur with 5 companies and 2 successful acquisitions under his belt. He is currently Founder / CEO of Trifecta, the largest ‘all Organic’ meal delivery service in the country that has experienced over 11,000% growth in the first 12 months since it launched. Greg also writes for Entrepreneur Magazine, Founder Magazine, and Bodybuilding.com and has coached several dozen CEO’s through Clarity.fm and other platforms.
Comments Q and A
- What was the initial investment and how close/far are you from breaking even?
Merch by Amazon is Amazon’s newest platform and sells t-shirts based on a print on demand model. I applied for an invite in November 2015 and got approved in late February 2016. I created 25 simple designs on my computer and uploaded them for free to the Merch by Amazon website. My profit for my first week at the end month of February was $49.84. I didn’t have to buy any inventory (Amazon owned and printed the t-shirts themselves).
At this time I didn’t know how the marketplace was going to work. Was it going to be like TeeSpring where I had to drive traffic, or was it going to be something different? I was thrilled to make my first $49 with 100% organic traffic. It proved to me that if I can make $50 with 25 t-shirts and no advertising, then it’s just a question of scale and publishing more designs. Continue reading
- It’s not a get rich quick internet tech drop-shipping 4 hours a year business, but if you enjoy working with electronics and have the time to devote to learning the skill (and doing the work), $2k isn’t bad for getting into mobile phone repair. Lot’s of great free resources out there.
Start small and slow, make sure you have customers and the desire to do the business. Your primary costs will be in having stock of the most common spare parts.