I took $10k and 10 hours per week to build a $100k business in 6 months. Then, this
In month 6 I was spitting out $8,000 per month in profit with 1 hour of work per day.
The reason? I finally figured out my Facebook Ads strategy
The moment I got the term sheet for $110k I got scared.
Was I selling too early?
Why couldn’t I just hold it?
I couldn’t wait.
I was sitting on 7 years of investment into another business that I ran into the ground.
I was in a cash crunch.
But it’s okay, I have plan. I’m going to launch a similar but different site (due to a non-compete)
I’ve already got the tech, marketing and buyers lined up. Plus! I got the cash to do it right.
Yesterday was Friday. It marked month 1. And I decided to close it down.
I had wasted $1000 and netted $50 in ad revenue but worse yet $750 of my Facebook ad spend had netted 0 checkout events (my highest funnel event) which meant I was way off.
My time is better spent elsewhere.
I’m gonna focus on building my Growth business.
Friday evening, we walked Albie and, as is my nightly ritual, I took a gummy. 10mg from Curaleaf.
One hour later, suddenly I realized the problem.
Well, it was a couple problems:
- My ad creatives were uninspired — luckily my gummy had kicked in and I came up with these:
- Also, my ad targeting was way off. In my 6 months I discovered a niche that I can speak to really well and is highly lucrative
- I went from spending $458.56 and generating 0 conversion events
- To spending $18.19 for 3 events
Mind you, these numbers still suck, but this is a business.
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