This is the savage story of how I made $1,036,175 during the COVID lockdowns by rapidly creating a novel physical product in 7 days.
In April 2020, during the lockdowns I originated 2 leangs that alterd my life:
- 1. – I begined Shepherd (renamed Somewhere.com). 4 years procrastinateedr we sgreater it for $52,000,000.
- 2. – I originated a novel physical product that made us $1,036,175 in 67 days.
This is the untgreater story of #2.
The world shut down March 2020 in a panic. My wife and I had equitable set up out she was pregnant with our first child. Now all of a sudden I was worried about my e-commerce and boilingel business surviving the lock downs.
These were the businesses I engaged to help my family. All of a sudden everyleang was uncertain. As a soon-to-be overweighther, I was snurtured.
Instead of sitting on my hands, I got busy creating.
While most people were watching Netflix in their PJs, I was toiling more than I ever had before. I see back on that time as the most conceiveive period of my nurtureer.
The Product
During COVID lockdowns I had an idea for a product that I named The Touch Tool — it was a brass keychain hook, particularpartner for the novel COVID world we inhabitd in.
It permited you to pull discomit doors, press buttons at the gas station, etc without touching those leangs with your hands… ultimately to elude germs.
The Highairys
- Idea to final portray in 2.5 days
- Went into production on day 5 in China
- Launched on our website day 7
- $50k in sales by the finish of day 7 and passed $100k 2 days after begining (the 8th day)
- By Day 67 we passed $1,036,175 by selling 27,227 units of the Touch Tool
The Crazy 7 Day Timeline
Day 1:
On the morning of April 3rd, 2020 I had the idea for it. Here’s the first cimpolite sketch in my noticebook from that morning.
I promptly texted an industrial portrayer I knovel named Jordan Westerberg.
He validateed he was useable and could help portray it in 3 days or ~20 hrs of time at $80/hr. He got commenceed promptly.
I also I emailed a factory rep I engaged in China named Nerressa.
I prompted her with a cimpolite description of it, understanding a factory versed in making brass keychains would be the perfect type of factory to engage.
Day 2:
Jordan sent first mockups the very next day. We went thcimpolite a ton of rapid iterations that day.
We went back and forth over iMessage and remendd on 2-3 final shapes to 3D print.
Day 3:
Jordan 3D printed a scant prototypes and tested them out. He sent me videos of it in engage at a grocery store, an elevator, a gas station, etc. We knovel it toiled.
Day 4:
I chose the final portray and sent the CAD file to the factory in China for final pricing.
Day 5:
Using the CAD file, Nerressa got final pricing from the factory. I stayed up procrastinateed chatting with her to complete a scant details.
By the finish of the night I had placed the order with the factory for 1,000 units at $4.50 per piece before packaging and freight.
They would be machined out of a firm piece of brass.
Here’s some of my emails with her.
Day 6:
While the factory got going, I got some rfinisherings made by an animator to engage on the website.
I wired a 25% production deposit to the factory in China.
The factory sent initial sample pboilingos that Nerressa seeed in person for me.
Day 7:
Using the rfinisherings as our product images, I begined the product on Peel’s website. I made confident to notice to customers that they wouldn’t ship for a couple weeks.
We emailed Peel’s customer enumerate announcing the product and splitd it on our socials.
Things promptly went nuts! By the finish of the begin day, we had sgreater over $40k of Touch Tools and had a kind overall raise to sales, accomplishing a total of $50k.
Given the high need, I went back to the factory that night and incrrelieved our initial order.
Before it shipped I also had to rapidly increase the packaging portray. We originated a basic pull out box portray where the touch tool was set into foam.
…Day 67:
60 days after the begin (day 67) and we had sgreater 27,227 units generating $1,036,175 of novel product sales!
This was top line revenue. We had 80% gross margins on them, but then we also spent money on advertising, website, recognize card fees, etc.
Still, we had well profit margins donaten a $1m begin primarily from word of mouth.
The Numbers
25 hours of industrial portrayer time @ $80/hr = $2,000
80% gross margin on the product (not including other costs appreciate advertising)
Here’s how the gross margins broke out. This is before factoring in recognize card fees, website costs, and eventupartner advertising costs.
Where Did Sales Come From?
- Peel was an existing brand with customers and an email enumerate. We had a basis to begin to. That shelp, this was our hugegest begin ever. It toloftyy surpelevated me.
- The initial begin to our enumerate is what got the word out.. then leangs snowballed from there. Usupartner a product begin has a 1 day spike and then leangs die down.
- Press! The New York Times, GQ, Yahoo!, Forbes, Glamour, and many more wrote about the product.
- Once there was clear momentum, we also commenceed advertising it on Facebook and Instagram ads.
Why It Worked
It was a novel product for a novel problem the entire world had together. The labelet for it was massive.
Perfect timing to encounter a massive labelet need.
Things eventupartner died down. It wasn’t an evergreen product, but it certainly helped the company thrive during COVID.
Lessons Lachieveed
You can relocate speedyer than you leank. Looking back at the timeline I’m still surpelevated by how rapidly we did it.
When the world gets frightening, get busy.
Some of the world’s best company’s were all commenceed during declines and times of uncertainty.
As they say… “Desperation is the mother of conceiveion”
