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10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month - Business - Nairaland

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10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by jaelz(m): 3:52pm On Jan 12, 2018
Am Jaelz by name, a seasoned Computer Science Graduate, I actually finished back then in 2015 and served in 2016. I moved to Lagos from Jos to pursue my music career and hustle but along the line I dropped it. During my university days in Jos, people were always requesting to buy shoes that I wore and I ended up selling my shoes to them. This continued up-til my service. Always been obsessed about shoes right from my university days, and that saw me getting my first blog about shoes and fashion www.kicksrepublic.; a blog dedicated to stylish shoes. During my service year I contacted a shoe maker told him to send me pictures on Whatsapp so I upload to my status on social media. As I uploaded it I got so many responses and was able to secure 3 clients that paid 8k each for the shoe. I made a profit of 8k on the 3 shoes. However profit dropped in 2016 and couldn't get more orders throughout 2016. In 2017, February to be precised I started getting bumper orders again and within 8 months I made sales worth a 700k from just Instagram and Facebook posts, with just occasional paid sponsorship on posts. Although I engaged in aggressive Digital Media Marketing after being certified by Google. Things were going on fine and I registered up on some e-commerce site like Jumia, Konga and Jiji with Jumia being the biggest market. Within 2 days of selling on Jumia I had 22 orders, and each of my shoes cost 15k on Jumia.

How Did I Loose The Money?

Because I was still growing the brand, I decided to make my business and still wanna make it an on-demand commerce site. Well in June to be precised was when I signed up to be a merchant on Jumia. And everybody knows Jumia you must ship with 24 hours of order. Gbam and here I was with 22 orders of my shoes to produce within 24 hours. I decided to quickly start and even contacted Jumia to help out but no way they have their policies to satisfy their clients. So that was how most of them cancelled the order and Jumia ended up closing my store due to 50% cancellation rate. And then the materials I had bought to start work ended up being used for other shoes, which were sold later.

What I learn't :

1. You fit blow anytime o.

2. Never Underestimate yourself.

3. To Grow you have to start.

4. People buy Quality, Customer Care and Delivery and not your Products.

5. People value a Trusted Brand, try to build your brand.

6. Feasibility studies is very necessary before starting a business.

7. Running a one man business is the most difficult thing ever.

8. Persistence and Consistency is key to success.

9. Don't wait for the right capital or time to start, just start even thought it's just with deciding your company name or designing the logo alone

10. Branding is important, packaging.


Advice: you miss 100% of shots you don't take, just take the first shot...

cc: lalasticlala, seun, onila, farano, mynd44, airforce1

check me out on Instagram : @lmcbyjaelz
my website : www.lmcbyjaelz.com (Currently being upgraded to a OD-Commerce Site)
Telephone : 08186325139

Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by jaelz(m): 3:54pm On Jan 12, 2018
More Photos: Note pixs have been edited

Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by jaelz(m): 3:57pm On Jan 12, 2018
More Photos

Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by jaelz(m): 3:58pm On Jan 12, 2018
More Photos :

Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by jaelz(m): 3:59pm On Jan 12, 2018
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Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by Nobody: 4:10pm On Jan 12, 2018
nice shoes....well well

1 Like

Re: 10tins I Learnt 4m My Business + How I Lost 350k In 3days + Made 800k In 7 Month by kunlesmiles(m): 4:36pm On Jan 12, 2018
Nice work sir

1 Like

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