![]() ![]() This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". ![]() These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. Very inspiring message! Please let us know in the comments what you thought of this e-commerce success story, as well as whether you have any follow up questions. Applying for a line of credit from the bank at a time when we didn’t need it was very helpful down the road when we needed extra cash. Being small and nimble is a competitive advantage we could use during our start-up days. Adapting to our customer’s demands is critical, especially in the early stages as we had to find a way to stand out from the competition. One of the best moves I made early on was to hire a full-time graphic and web designer which allowed me to offload tasks to focus on growing the business and eventually hire more team members. At that point, it was a no-brainer that I could increase revenue greatly if I could dedicate an additional 40 hours (80 hours total) and be solely focused on the business. Ultimately, I continued working my day job and ran my side business during the nights and weekends until the business made enough revenue and profit to replace my day job. I asked myself this question all the time and spoke about this topic with mentors and business folks that I respected. Figuring out the best time to jump into the boat with both feet and knowing you won’t fall short or drown is one of the toughest decisions for entrepreneurs. If I had to do it all over again with my current level of experience, I would start off with a much higher amount of money.īefore I went full time with my companies, I was working as a Business Technology Analyst for Deloitte Consulting for a couple of years. Luckily, we were profitable in the first few weeks because there was a high demand for the product and very low overhead costs. This is a strategy that always works and is very true with TikTok today. We also were able to market through Facebook at a time when organic social was free and the reach was great. We were then able to save enough money to create our own product that was 100% focused on our target audience. We first started by retailing existing products and by providing a better customer experience than our competitors. I relied on simply providing value to my target audience. It was very difficult to start off with no resources and no prior experience growing an eCommerce business. I started out with $100 selling merchandise out of the trunk of my car. Here, without further ado, is Brian’s story in his own words. 5000 for six years in a row and scored deals through Shark Tank’s Mark Cuban and Daymond John. For the rest of the story, let’s turn to the words of the founder.īrian was a great interview! His brand has been featured in the Inc. Of course, this is just one reason that iHearRaves has been able to capture such a dominant slice of this market. As a result, if you can build a brand that is positioned as an expert that furnishes that hobby, you will create your own e-commerce success story! They are always looking to stand out among their peers, to be a leader within their groups, and be the first one to identify the latest trend. These people are PASSIONATE about hearing their favorite artists, connecting with other fest-goers, and, of course, dressing up for each event!Īs I’ve mentioned elsewhere on the blog, enthusiastic hobbyists make great customers. ![]() If you don’t go to festivals and electronic concerts yourself, you probably know at least one person who does. Something that we harp on continually is the need to focus in on a niche with your e-commerce store. There are a few things that I love about this brand. They currently haul in around $30M per year! IHeartRaves is a wildly successful e-commerce brand specializing in fashion worn by festival and concert-goers around the world. We had the honor of speaking with Brian Lim, the founder of iHeartRaves. Welcome! Today, I am excited to share another brilliant e-commerce success story with you. ![]()
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